Spruce Ridge Resources Ltd (TSE:SHL)
:SHL
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Spruce Ridge Resources
(SHL)
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Rating:55Neutral
Price Target:
C$0.47
▲(490.00% Upside)
Action:ReiteratedDate:04/06/26
The score is held back primarily by weak financial performance, with persistent losses and ongoing operating/free-cash-flow burn, despite a low-debt balance sheet. Technicals are a positive offset with the stock trading above key moving averages and neutral-to-positive momentum. Valuation is modestly supportive via a low P/E, but lack of dividends and weak underlying profitability temper its benefit.
Positive Factors
Low Leverage / Balance Sheet Strength
Very low debt provides durable financial flexibility to fund exploration or survive operating drawdowns without heavy interest burdens. This reduces insolvency risk, supports JV/option negotiations, and preserves runway for discovery-driven value creation over the medium term.
Negative Factors
Persistent Cash Burn
Ongoing negative operating and free cash flow shows the company is consuming capital to fund activities rather than generating it. Over months this raises reliance on external funding, heightens dilution risk, and could force project slowdowns or asset disposals that delay value realization from exploration work.
Read all positive and negative factors
Positive Factors
Negative Factors
Low Leverage / Balance Sheet Strength
Very low debt provides durable financial flexibility to fund exploration or survive operating drawdowns without heavy interest burdens. This reduces insolvency risk, supports JV/option negotiations, and preserves runway for discovery-driven value creation over the medium term.
Read all positive factors
Spruce Ridge Resources (SHL) vs. iShares MSCI Canada ETF (EWC)
Market Cap
C$110.79M
Dividend YieldN/A
Average Volume (3M)186.43K
Price to Earnings (P/E)39.6
Beta (1Y)1.78
Revenue GrowthN/A
EPS Growth94.93%
CountryCA
EmployeesN/A
SectorBasic Materials
Sector Strength58
IndustryOther Precious Metals
Share Statistics
EPS (TTM)<0.01
Shares Outstanding226,096,800
10 Day Avg. Volume299,004
30 Day Avg. Volume186,428
Financial Highlights & Ratios
PEG Ratio-0.28
Price to Book (P/B)0.73
Price to Sales (P/S)0.00
P/FCF Ratio-6.73
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price TargetN/A
Price Target UpsideN/A
Rating ConsensusN/A
Number of Analyst Covering0
EPS Forecast (FY)N/A
Revenue Forecast (FY)N/A
Spruce Ridge Resources Business Overview & Revenue Model
Company Description
Homeland Nickel, Inc. is a mineral exploration company, which engages in the acquisition, exploration and development of exploration, and evaluation properties. Its projects include Cleopatra property, Red Flat Nickel property, Eight Dollar Mounta...
How the Company Makes Money
Spruce Ridge Resources generates revenue primarily by identifying and advancing mining projects with significant resource potential. The company explores these properties and either develops them into producing mines or sells/option them to other ...
Spruce Ridge Resources Financial Statement Overview
Summary
Income Statement
18
Very Negative
Balance Sheet
72
Positive
Cash Flow
27
Negative
| Breakdown | TTM | Apr 2025 | Jul 2023 | Jul 2021 | Jul 2020 | Apr 2019 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 0.00 | 0.00 | 0.00 | 131.39K | 0.00 | 0.00 |
| Gross Profit | -17.15K | -18.94K | -54.31K | -484.00K | -6.94K | -7.77K |
| EBITDA | -1.41M | -2.24M | 345.59K | -2.15M | 8.62M | -598.55K |
| Net Income | -249.42K | -4.97M | 320.79K | -10.66M | 8.61M | -603.58K |
Balance Sheet | ||||||
| Total Assets | 10.69M | 10.11M | 14.43M | 16.84M | 11.85M | 1.92M |
| Cash, Cash Equivalents and Short-Term Investments | 4.24M | 3.87M | 7.44M | 7.45M | 4.67M | 24.31K |
| Total Debt | 0.00 | 0.00 | 0.00 | 60.00K | 45.00 | 74.86K |
| Total Liabilities | 505.78K | 521.68K | 241.90K | 612.23K | 386.60K | 541.13K |
| Stockholders Equity | 10.18M | 9.53M | 13.10M | 16.22M | 11.46M | 1.37M |
Cash Flow | ||||||
| Free Cash Flow | -2.39M | -1.61M | -1.42M | -3.15M | -989.81K | -605.22K |
| Operating Cash Flow | -1.91M | -1.61M | -257.34K | -3.02M | -981.41K | -514.84K |
| Investing Cash Flow | 2.30M | 1.75M | -777.16K | -71.10K | 876.82K | -90.39K |
| Financing Cash Flow | 0.00 | 0.00 | 992.99K | 1.63M | 80.39K | 628.13K |
Spruce Ridge Resources Technical Analysis
Positive
0.08
Price Trends
0.44
Positive
0.32
Positive
0.20
Positive
Market Momentum
0.02
Negative
57.89
Neutral
76.39
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For TSE:SHL, the sentiment is Positive. The current price of 0.08 is below the 20-day moving average (MA) of 0.44, below the 50-day MA of 0.44, and below the 200-day MA of 0.20, indicating a bullish trend. The MACD of 0.02 indicates Negative momentum. The RSI at 57.89 is Neutral, neither overbought nor oversold. The STOCH value of 76.39 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for TSE:SHL.
Spruce Ridge Resources Peers Comparison
UnderperformOutperform
Sector (61)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
61 Neutral | $10.43B | 7.12 | -0.05% | 2.87% | 2.86% | -36.73% | |
55 Neutral | C$110.79M | 39.60 | -18.39% | ― | ― | 94.93% | |
50 Neutral | C$22.84M | -2.45 | 6.43% | ― | ― | ― | |
49 Neutral | C$43.52M | -10.20 | -18.03% | ― | ― | ― | |
| ― | C$22.90M | 6.58 | 6.24% | ― | ― | ― | |
46 Neutral | C$12.88M | -1.58 | -94.19% | ― | ― | 25.50% | |
42 Neutral | C$19.70M | -98.10 | 19.89% | ― | ― | ― |
* Basic Materials Sector Average
TSE:SHL
Spruce Ridge Resources
0.49
0.44
880.00%
TSE:XGC
Xali Gold Corp.
0.27
0.23
575.00%
TSE:NOB
Noble Mineral Exploration
0.09
0.04
80.00%
TSE:PEX
Pacific Ridge Exploration
0.20
0.08
66.67%
TSE:RRI
Riverside Resources
0.25
0.10
66.45%
TSE:ATHA
Athena Gold
0.55
<0.01
1.10%
Spruce Ridge Resources Corporate Events
Business Operations and Strategy
Homeland Nickel Hires U.S. Investor Relations Firm to Boost Market Visibility
Positive
Mar 25, 2026
Homeland Nickel Inc., a Canadian mineral exploration company with nickel projects in the U.S. and copper and gold projects in Newfoundland, is also an active investor in other junior resource companies through a significant portfolio of mining equ...
Business Operations and Strategy
Homeland Nickel Hires Investor Relations Firm to Boost Market Visibility
Positive
Mar 24, 2026
Homeland Nickel Inc., a Canadian critical metals explorer with nickel assets in Oregon and copper-gold projects in Newfoundland, also holds equity stakes in multiple junior mining companies, reinforcing its exposure to the broader resource sector....
Business Operations and StrategyExecutive/Board ChangesM&A Transactions
Homeland Nickel Expands Oregon Portfolio and Ties With Patriot Nickel
Positive
Mar 17, 2026
Homeland Nickel has appointed veteran mining executive and former U.S. Navy officer Jeffrey Strobel as CEO of Patriot Nickel, which has an option to earn an 80% stake in Homeland’s Cleopatra and Eight Dollar Mountain laterite assets in excha...
Business Operations and StrategyShareholder Meetings
Homeland Nickel to Gain Wider Investor Base Through Noble Share Distribution
Positive
Feb 12, 2026
Homeland Nickel, a Canadian mineral exploration firm specializing in nickel, copper, and gold projects in North America and holding a diversified portfolio of mining equities, continues to build its presence in critical metals markets. The company...
Business Operations and StrategyExecutive/Board Changes
Homeland Nickel Names Jordan Black Corporate Secretary as Errol Farr Steps Down
Positive
Jan 26, 2026
Homeland Nickel Inc. has appointed geotechnical engineer and mining entrepreneur Jordan Black as its new Corporate Secretary, following the resignation of former Corporate Secretary Errol Farr, who is stepping down to focus on his roles as CEO of ...
Other
Homeland Nickel Says No Material Change Behind Surge in Trading Activity
Neutral
Jan 21, 2026
Homeland Nickel Inc. stated that its management is unaware of any undisclosed material change in its operations that would explain the recent spike in trading activity in its shares. The clarification, made at the request of the Canadian Investmen...
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.