Atha Energy Corp. (SASK) AI Stock Analysis

• Market Cap: C$334.26M
• Dividend Yield: N/A
• Average Volume (3M): 1.05M
• Price to Earnings (P/E): ―
• Beta (1Y): 1.53
• Revenue Growth: N/A
• EPS Growth: 52.63%
• Country: CA
• Employees: N/A
• Sector: Energy
• Sector Strength: 52
• Industry: Uranium
• EPS (TTM): -0.01
• Shares Outstanding: 303,869,400
• 10 Day Avg. Volume: 896,463
• 30 Day Avg. Volume: 1,046,419
• PEG Ratio: 0.22
• Price to Book (P/B): 0.61
• Price to Sales (P/S): 0.00
• P/FCF Ratio: -3.06
• 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: 54 Neutral
• Price Target: C$1.00 ▲(38.89% Upside)

The score is held back primarily by very weak financial performance (no revenue, ongoing losses, and significant cash burn), despite a low-debt balance sheet. Technicals are a clear positive with a strong uptrend and positive momentum, while valuation remains pressured by the negative P/E and lack of dividend yield data.

Positive Factors

Low leverage / strong balance sheet

Very low debt gives Atha structural financial flexibility and a longer runway to fund exploration cycles without high interest burdens. This durable balance-sheet strength reduces bankruptcy risk and preserves optionality for project development and strategic transactions over months.

Confirmed near-term financing

An upsized $25M convertible debenture financing materially extends funding for Angilak exploration and general corporate needs. Durable impact: reduces immediate cash stress and funds value-creating exploration stages, improving the probability of project advancement over the next several months.

High-quality project jurisdiction

Concentrating activity in the Athabasca Basin and advancing Angilak situates Atha in a structurally advantaged, high-grade uranium region. This geographic and asset focus supports long-term resource potential and strategic relevance as global uranium demand evolves over years.

Negative Factors

Zero revenue / persistent net losses

No recurring revenue and sustained net losses indicate the company remains pre-commercial and dependent on exploration outcomes. Over months this limits ability to self-fund operations, constrains reinvestment capacity, and raises execution risk for advancing projects to revenue generation.

Material cash burn

Persistent negative operating and free cash flow create structural funding needs and signal the company cannot sustain operations from internal cash generation. Until operating cash flow turns positive, Atha’s strategy depends on external capital, increasing execution and financing risk over the medium term.

Dilution and capital-structure risk from convertibles

Reliance on unsecured convertible debentures with an option for more creates structural dilution and potential governance pressure if converted. Over months this can change equity ownership, compress future per-share returns and shift incentives, affecting long-term shareholder value.

Atha Energy Corp. Business Overview & Revenue Model

Company Description

Atha Energy Corp. operates as a mineral exploration company. It focuses on the acquisition, exploration, and development of mineral resource properties. Atha Energy Corp. was formerly known as Inglenook Ventures Ltd. and changed its name to Atha Energy Corp. in May 2022. The company was incorporated in 2021 and is based in Vancouver, Canada.

How the Company Makes Money

Atha Energy Corp. generates revenue through the exploration and extraction of energy resources, primarily focusing on oil and natural gas. The company monetizes these resources by selling them to various markets, including industrial, commercial, and residential sectors. Additionally, Atha Energy Corp. may engage in strategic partnerships and joint ventures to optimize resource development and share operational risks, thus enhancing profitability. The company's earnings are influenced by factors such as global energy prices, production volumes, and operational efficiencies.

Atha Energy Corp. Financial Statement Overview

Summary

Operating performance is very weak (TTM revenue of zero, sizable net loss) and cash flow is materially negative (negative operating and deeply negative free cash flow), indicating ongoing funding dependence. This is partially offset by a balance-sheet strength: very low leverage and strong flexibility due to minimal debt.

Income Statement

Profitability is weak and trending poorly. In TTM (Trailing-Twelve-Months), the company generated no revenue and reported a sizable net loss (about -$10.6M), following another net loss in 2024 (about -$11.4M). The lack of revenue consistency (revenue present in 2023 but zero in 2024 and TTM) and persistently negative operating results indicate an early-stage/transition profile with limited visibility into near-term earnings power.

Balance Sheet

The balance sheet is a relative strength due to very low leverage. Total debt is minimal versus equity in both TTM (Trailing-Twelve-Months) and 2024 (debt-to-equity near zero), suggesting ample balance-sheet flexibility. The key weakness is continued losses driving negative returns on equity (roughly -5% in TTM and 2024), meaning the capital base is not currently generating shareholder returns.

Cash Flow

Cash generation is weak with persistent cash burn. TTM (Trailing-Twelve-Months) operating cash flow is negative (about -$3.9M) and free cash flow is deeply negative (about -$27.1M), and 2024 showed even larger outflows (operating cash flow about -$10.3M; free cash flow about -$41.5M). While the year-over-year free cash flow burn improved versus 2024, the business remains reliant on external funding until operating cash flow turns sustainably positive.

Breakdown	TTM	Dec 2024	Dec 2023	Dec 2022	Dec 2021
Income Statement
Total Revenue	0.00	0.00	1.16M	0.00	0.00
Gross Profit	-327.25K	-227.13K	1.13M	-13.60K	0.00
EBITDA	-10.01M	-7.67M	-13.95M	-1.02M	0.00
Net Income	-10.64M	-11.41M	-13.98M	-1.03M	-210.71K
Balance Sheet
Total Assets	230.15M	214.17M	99.16M	42.03M	23.56K
Cash, Cash Equivalents and Short-Term Investments	11.30M	8.26M	34.01M	40.70M	18.34K
Total Debt	395.51K	621.25K	0.00	0.00	0.00
Total Liabilities	10.30M	5.83M	11.39M	34.08M	109.18K
Stockholders Equity	219.86M	208.34M	87.77M	7.96M	-85.62K
Cash Flow
Free Cash Flow	-27.07M	-41.51M	-22.53M	-363.01K	-6.66K
Operating Cash Flow	-3.86M	-10.35M	-4.21M	-220.10K	-6.66K
Investing Cash Flow	-20.92M	-18.10M	-18.32M	-1.19M	0.00
Financing Cash Flow	19.69M	-608.26K	19.03M	42.09M	25.00K

Atha Energy Corp. Technical Analysis

• Technical Analysis Sentiment: Positive
• Last Price: 0.72
• 50DMA: Positive
• 100DMA: Positive
• 200DMA: Positive
• MACD: Negative
• RSI: Negative
• STOCH: Negative

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For TSE:SASK, the sentiment is Positive. The current price of 0.72 is below the 20-day moving average (MA) of 0.83, above the 50-day MA of 0.71, and above the 200-day MA of 0.61, indicating a bullish trend. The MACD of 0.10 indicates Negative momentum. The RSI at 76.36 is Negative, neither overbought nor oversold. The STOCH value of 81.07 is Negative, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for TSE:SASK.

Atha Energy Corp. Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
CCO	68 Neutral	$73.33B	139.38	7.96%	0.19%	23.88%	350.69%
Sector *	65 Neutral	$15.17B	7.61	4.09%	5.20%	3.87%	-62.32%
NXE	62 Neutral	$11.19B	-29.30	-30.71%	―	―	-308.46%
MGA	55 Neutral	C$264.75M	-54.69	-1.98%	―	―	22.89%
SASK	54 Neutral	C$334.26M	-28.42	-4.96%	―	―	52.63%
AEC	50 Neutral	C$182.12M	-11.56	-30.73%	―	―	-234.49%
DML	49 Neutral	$4.83B	―	-38.86%	―	―	―

Atha Energy Corp. Corporate Events

ATHA Energy Upsizes Convertible Debenture Financing to US$25 Million with Queen’s Road Capital

ATHA Energy Corp. has upsized its previously announced private placement of unsecured convertible debentures with Queen’s Road Capital Investment Ltd. to US$25 million, or approximately C$34.5 million, following strong investor demand. The funding will primarily support exploration and development at the company’s flagship Angilak Uranium Project in Nunavut and general corporate purposes, with the debentures carrying a 12% annual interest rate over five years and a conversion price set at C$0.85 per share. The deal deepens ATHA’s relationship with a prominent resource-sector financier and includes an investor rights agreement, an option for QRC to purchase an additional US$25 million of debentures on similar terms over two years, and customary closing conditions, collectively enhancing ATHA’s financial flexibility for advancing its uranium assets while signaling institutional confidence in its growth strategy.

The most recent analyst rating on (TSE:SASK) stock is a Hold with a C$0.75 price target. To see the full list of analyst forecasts on Atha Energy Corp. stock, see the TSE:SASK Stock Forecast page.

Atha Energy Secures US$20 Million Convertible Debenture Financing from Queen’s Road Capital

Atha Energy Corp. has entered into a binding term sheet with Queen’s Road Capital Investment Ltd. for a private placement of US$20 million in unsecured convertible debentures, with QRC also receiving a two-year option to purchase an additional US$20 million of debentures. The funding, structured as five-year debentures bearing 12% annual interest and convertible into Atha shares at C$0.85, will be used primarily to advance exploration and development at the company’s Angilak Uranium Project in Nunavut following five new uranium discoveries and strong drill intercepts in 2025. The investment by QRC, a specialist resource financier with a track record in high-profile uranium names such as NexGen Energy and IsoEnergy, strengthens Atha’s financial position, validates the geological potential of the Angikuni Basin, and could materially support the next phase of work at one of Canada’s more promising uranium exploration districts.

The most recent analyst rating on (TSE:SASK) stock is a Hold with a C$0.69 price target. To see the full list of analyst forecasts on Atha Energy Corp. stock, see the TSE:SASK Stock Forecast page.

ATHA Energy Grants Stock Options and RSUs Under Equity Incentive Plan

ATHA Energy Corp. has granted 10,150,000 incentive stock options and 1,300,000 restricted share units to eligible participants, including directors and officers, under its equity incentive plan, with options vesting in thirds over 12 months at an exercise price of $0.61 and RSUs vesting after 12 months. The awards, which fall within the plan’s 10% cap on shares issuable and use exemptions under Canadian related-party and minority protection rules, are designed to align management and insider incentives with shareholders as ATHA advances its uranium exploration and development portfolio.

The most recent analyst rating on (TSE:SASK) stock is a Hold with a C$0.65 price target. To see the full list of analyst forecasts on Atha Energy Corp. stock, see the TSE:SASK Stock Forecast page.

Atha Energy Corp. Announces Significant Uranium Discoveries at Angilak Project

Atha Energy Corp. has announced significant high-grade uranium discoveries at its Angilak Project, specifically along the Mineralized RIB Corridor. The latest assays from the RIB East, West, and South discoveries confirm substantial uranium mineralization, enhancing the project’s potential. These findings, combined with previous discoveries, underscore the project’s promise and the company’s strategic positioning in the uranium market. The discoveries are expected to have a positive impact on Atha Energy’s operations, potentially increasing its resource base and strengthening its market position.

The most recent analyst rating on (TSE:SASK) stock is a Buy with a C$1.50 price target. To see the full list of analyst forecasts on Atha Energy Corp. stock, see the TSE:SASK Stock Forecast page.

ATHA Energy Unveils High-Grade Uranium Discovery at Angilak Project

ATHA Energy Corp. has announced a significant discovery at its Angilak Uranium Project with the maiden drillhole at RIB North yielding high-grade uranium mineralization. This discovery, marked by a 34.7-meter composite uranium mineralization, reinforces the potential of the Angikuni Basin as a promising uranium district, aligning with the company’s exploration strategy and the Canadian government’s focus on advancing mineral resource projects.

The most recent analyst rating on (TSE:SASK) stock is a Buy with a C$1.50 price target. To see the full list of analyst forecasts on Atha Energy Corp. stock, see the TSE:SASK Stock Forecast page.

ATHA Energy Unveils Major Uranium Discovery at Angilak Project

ATHA Energy Corp. has announced a significant discovery at its Angilak Uranium Project, with assays from its maiden drillhole at the RIB North Discovery revealing 34.7 meters of total composite uranium mineralization. This discovery, which includes high-grade intervals, reinforces the potential of the Angikuni Basin as a promising uranium district, aligning with the company’s exploration strategy and positioning it for future growth.

The most recent analyst rating on (TSE:SASK) stock is a Buy with a C$1.50 price target. To see the full list of analyst forecasts on Atha Energy Corp. stock, see the TSE:SASK Stock Forecast page.

Atha Energy Corp. Reports Major Uranium Discoveries in 2025 Exploration Program

Atha Energy Corp. announced significant progress in its 2025 Angilak Exploration Program, particularly at Mushroom Lake and the KU Discovery. The company successfully intersected high-grade uranium mineralization and identified new structural corridors using advanced EM Inversion modeling. These discoveries not only expand the mineralization footprint but also position Atha Energy as a key player in supplying uranium for the nuclear energy sector, with potential implications for future exploration and development activities.

The most recent analyst rating on (TSE:SASK) stock is a Buy with a C$1.50 price target. To see the full list of analyst forecasts on Atha Energy Corp. stock, see the TSE:SASK Stock Forecast page.