Orex Minerals (REX) AI Stock Analysis

• Market Cap: C$7.97M
• Dividend Yield: N/A
• Average Volume (3M): 86.83K
• Price to Earnings (P/E): ―
• Beta (1Y): 2.08
• Revenue Growth: N/A
• EPS Growth: -42.55%
• Country: CA
• Employees: N/A
• Sector: Basic Materials
• Sector Strength: 58
• Industry: Industrial Materials
• EPS (TTM): -0.01
• Shares Outstanding: 36,220,577
• 10 Day Avg. Volume: 56,588
• 30 Day Avg. Volume: 86,834
• PEG Ratio: -0.11
• Price to Book (P/B): 1.54
• Price to Sales (P/S): 0.00
• P/FCF Ratio: -1.70
• Enterprise Value/Market Cap: N/A
• Enterprise Value/Revenue: N/A
• Enterprise Value/Gross Profit: N/A
• Enterprise Value/Ebitda: N/A
• 1Y Price Target: N/A
• Price Target Upside: N/A
• Rating Consensus: N/A
• Number of Analyst Covering: 0
• EPS Forecast (FY): N/A
• Revenue Forecast (FY): N/A

• Rating: 49 Neutral
• Price Target: C$0.22 ▼(-24.48% Downside)

The score is held down primarily by very weak financial performance (no revenue, sustained losses, and continued cash burn with shrinking equity). Technical momentum is a key offset (price above major moving averages with positive MACD), while valuation provides limited support due to negative earnings and no dividend yield data.

Positive Factors

Debt-free balance sheet

A debt-free balance sheet materially lowers near-term bankruptcy and interest-cost risk, preserving capacity to finance exploration or operations through equity or project finance rather than servicing debt. This structural flexibility supports strategic options and resilience over the next 2–6 months.

Intermittent improvement in cash burn

Signs of reduced cash burn in 2024 versus other years indicate the company can implement cost controls or timing changes that meaningfully affect runway. If sustained, these operational adjustments can extend liquidity and reduce near-term financing pressure over several months.

Smaller reported losses in 2024

A reduction in reported losses year-over-year signals possible expense discipline or one-off items normalizing. Even modest improvement in underlying operating performance can slow equity erosion and lower the frequency of dilutive capital raises if the trend continues.

Negative Factors

No revenue generation

Absence of revenue means the firm is not a recurring operating business and must rely on financing or asset monetization. This undermines margin sustainability and the ability to self-fund growth, making the capital structure and funding cadence the primary drivers of viability over months.

Persistent negative cash flow

Sustained negative operating and free cash flows erode liquidity and shorten operational runway, forcing recurring capital raises. Over a 2–6 month horizon this limits strategic flexibility, increases dilution risk, and constrains the ability to invest in value-creating projects.

Shrinking equity and deeply negative ROE

Material equity erosion and a deeply negative ROE indicate shareholder capital is being consumed rather than compounded. A shrinking capital base increases vulnerability to funding shocks and magnifies dilution needed to raise new capital, a structural risk for the firm's continuity.

Orex Minerals Business Overview & Revenue Model

Company Description

Orex Minerals Inc., a mineral exploration company, engages in the acquisition and exploration of mineral properties in Mexico and Canada. It owns interests in the Coneto silver-gold project that covers an area of 16,346 hectares of mineral concessions located in the Mesa Central on the eastern flank of the Sierra Madre Occidental Mountains; the Sandra Escobar silver-gold project situated to the north of the town of Tepehuanes, Durango; and the Jumping Josephine gold project totalling 11,200 hectares located in the West Kootenay region of Southeastern British Columbia. The company was incorporated in 1996 and is headquartered in Vancouver, Canada.

How the Company Makes Money

Orex Minerals generates revenue through the discovery and development of mineral resources, primarily focusing on silver and gold. The company makes money by advancing its exploration projects to a stage where they can attract joint venture partners or be sold to larger mining companies. Orex often enters into strategic partnerships and joint ventures with other mining companies to share costs and risks associated with exploration and development. These partnerships can result in Orex receiving payments, such as cash advances, shares, or royalties, as part of the agreement. Additionally, once a project reaches production, Orex can earn revenue from the sale of extracted minerals. The company's earnings are significantly influenced by factors such as commodity prices, exploration success, and the ability to secure favorable partnership agreements.

Orex Minerals Financial Statement Overview

Summary

Financial performance is very weak: the company reports no revenue, persistent net losses (TTM about -$3.27M), and ongoing cash burn (TTM operating cash flow about -$1.46M). The main positive is a debt-free balance sheet, but equity has eroded materially over time, increasing funding/dilution risk.

Income Statement

Across annual periods and TTM (Trailing-Twelve-Months), the company reports no revenue and consistently negative gross profit, indicating it is not operating as a revenue-generating business. Losses remain significant, with net income roughly in the -$1.9M to -$3.3M range, and TTM net loss of about -$3.27M. A modest positive is that losses were smaller in 2024 versus 2025, but the overall earnings profile remains weak and volatile with no visible path to profitability in the provided data.

Balance Sheet

The balance sheet shows no debt, which reduces financial risk and provides flexibility. However, equity has declined materially over time (from about $8.5M in 2022 to about $1.8M in TTM), reflecting ongoing losses and balance sheet erosion. Returns on equity are deeply negative (TTM around -135%), signaling that shareholder capital is being consumed rather than compounded; while leverage is low, the shrinking equity base is a key concern.

Cash Flow

Cash generation is consistently negative, with operating cash flow and free cash flow both meaningfully below zero in every period (TTM operating cash flow about -$1.46M; annual 2025 about -$2.11M). Free cash flow trends are choppy, including a steep TTM decline versus the prior period, which suggests limited operating stability. While cash burn improved in some years (e.g., 2024 vs 2023/2025), the company remains structurally cash-consuming based on the data provided.

Breakdown	Dec 2025	Dec 2024	Dec 2023	Dec 2022	Dec 2021
Income Statement
Total Revenue	0.00	0.00	0.00	0.00	0.00
Gross Profit	-1.68K	-2.99K	-3.99K	-5.32K	-7.09K
EBITDA	-2.56M	-1.40M	-1.77M	-2.03M	-2.49M
Net Income	-3.30M	-1.87M	-2.33M	-2.33M	-2.54M
Balance Sheet
Total Assets	2.86M	3.47M	4.61M	8.59M	3.15M
Cash, Cash Equivalents and Short-Term Investments	69.05K	27.91K	1.13M	3.30M	5.63M
Total Debt	0.00	0.00	0.00	0.00	0.00
Total Liabilities	524.38K	523.48K	83.42K	66.18K	103.97K
Stockholders Equity	2.34M	2.94M	4.52M	8.52M	3.05M
Cash Flow
Free Cash Flow	-2.11M	-1.13M	-1.76M	-2.06M	-1.48M
Operating Cash Flow	-2.11M	-1.13M	-1.76M	-2.06M	-1.48M
Investing Cash Flow	-50.00K	-141.31K	-419.06K	-75.42K	-70.51K
Financing Cash Flow	2.20M	171.18K	0.00	7.52M	7.52M

Orex Minerals Technical Analysis

• Technical Analysis Sentiment: Positive
• Last Price: 0.29
• 50DMA: Positive
• 100DMA: Positive
• 200DMA: Positive
• MACD: Positive
• RSI: Neutral
• STOCH: Neutral

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For TSE:REX, the sentiment is Positive. The current price of 0.29 is above the 20-day moving average (MA) of 0.27, above the 50-day MA of 0.23, and above the 200-day MA of 0.19, indicating a neutral trend. The MACD of >-0.01 indicates Positive momentum. The RSI at 49.22 is Neutral, neither overbought nor oversold. The STOCH value of 25.00 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for TSE:REX.

Orex Minerals Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
Sector *	61 Neutral	$10.43B	7.12	-0.05%	2.87%	2.86%	-36.73%
XTM	60 Neutral	C$6.55M	2.18	67.36%	―	―	―
GLM	52 Neutral	C$12.48M	-20.91	-5.30%	―	―	―
REX	49 Neutral	C$7.97M	-2.65	-133.71%	―	―	-42.55%
PER	49 Neutral	C$15.22M	73.33	14.20%	―	16.85%	―
LMR	48 Neutral	C$10.17M	-2.09	-11.09%	―	―	-84.65%

Orex Minerals Corporate Events

Orex Minerals Advances Sale of Coneto Stake to Silver Viper

Orex Minerals has confirmed it is moving ahead with the sale of its 38.79% interest in the Coneto Silver-Gold Project in Mexico to Silver Viper Minerals, alongside partner Fresnillo plc, which is divesting its 61.21% stake. Although the parties missed their initial January 2026 target for signing a definitive share purchase agreement, they report steady progress on finalizing terms, securing approvals and satisfying closing conditions, with Orex now set to receive a mix of cash and Silver Viper shares while Fresnillo will be paid solely in Silver Viper equity at a deemed price of CAD$0.80 per share. The transaction values Coneto at about US$15 million and would leave Fresnillo and Orex holding roughly 12% and 7% of Silver Viper, respectively, reinforcing their exposure to the asset through equity rather than direct ownership, while also establishing anti-dilution protections for Fresnillo and a technical committee to guide future project advancement, subject to customary regulatory and shareholder approvals.

The most recent analyst rating on (TSE:REX) stock is a Hold with a C$0.23 price target. To see the full list of analyst forecasts on Orex Minerals stock, see the TSE:REX Stock Forecast page.

Orex Minerals Launches $5 Million Private Placement to Bolster Working Capital

Orex Minerals Inc. has announced plans to raise up to $5 million through a non-brokered private placement of up to 30,303,030 units at $0.165 per unit, each comprising one common share and one two-year warrant exercisable at $0.20. The financing, expected to close around February 12, 2026 subject to TSX Venture Exchange approval and customary conditions, will be used for general working capital and may include finder’s fees, reinforcing Orex’s liquidity position as it advances its exploration partnerships and projects in Mexico and Canada.

The most recent analyst rating on (TSE:REX) stock is a Hold with a C$0.22 price target. To see the full list of analyst forecasts on Orex Minerals stock, see the TSE:REX Stock Forecast page.