SPC Nickel (TSE:SPC)
:SPC
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SPC Nickel
(SPC)
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Rating:43Neutral
Price Target:
C$0.05
▼(-40.00% Downside)
Action:ReiteratedDate:03/28/26
The score is held down primarily by the no-revenue, loss-making financial profile and sustained negative operating/free cash flow, which increases funding risk despite very low leverage. Technicals also weaken the outlook, with price below key moving averages and negative MACD. Valuation is constrained by a negative P/E and no dividend support.
Positive Factors
Low leverage
Very low debt reduces near-term financial risk and interest burden, giving management structural flexibility to prioritize operational fixes or R&D without heavy creditor constraints. This durable balance-sheet conservatism improves survival odds during multi-quarter cash burn periods.
Negative Factors
No revenue
Absent any reported revenue, the company lacks an operationally validated product-market fit and cannot self-fund operations. Over 2–6 months this condition forces dependence on external capital, makes margin sustainability hypothetical, and heightens execution risk for commercialization plans.
Read all positive and negative factors
Positive Factors
Negative Factors
Low leverage
Very low debt reduces near-term financial risk and interest burden, giving management structural flexibility to prioritize operational fixes or R&D without heavy creditor constraints. This durable balance-sheet conservatism improves survival odds during multi-quarter cash burn periods.
Read all positive factors
SPC Nickel (SPC) vs. iShares MSCI Canada ETF (EWC)
Market Cap
C$18.40M
Dividend YieldN/A
Average Volume (3M)451.44K
Price to Earnings (P/E)―
Beta (1Y)1.57
Revenue GrowthN/A
EPS Growth10.17%
CountryCA
Employees1
SectorBasic Materials
Sector Strength58
IndustryIndustrial Materials
Share Statistics
EPS (TTM)N/A
Shares Outstanding368,053,830
10 Day Avg. Volume431,545
30 Day Avg. Volume451,443
Financial Highlights & Ratios
PEG Ratio-0.33
Price to Book (P/B)3.33
Price to Sales (P/S)0.00
P/FCF Ratio-2.88
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
SPC Nickel Business Overview & Revenue Model
Company Description
SPC Nickel Corp. engages in the acquisition, exploration and development of mineral properties in Canada. It primarily explores for nickel, copper, and platinum group metals. The company holds interest in the Aer-Kidd property located on the Worth...
How the Company Makes Money
null...
SPC Nickel Financial Statement Overview
Summary
Income Statement
8
Very Negative
Balance Sheet
52
Neutral
Cash Flow
14
Very Negative
| Breakdown | Nov 2025 | Nov 2024 | Nov 2023 | Nov 2022 | Nov 2021 |
|---|---|---|---|---|---|
Income Statement | |||||
| Total Revenue | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Gross Profit | -38.59K | -42.05K | -32.91K | -32.02K | -21.12K |
| EBITDA | -2.98M | -2.45M | -4.32M | -4.48M | -4.61M |
| Net Income | -3.02M | -2.19M | -4.35M | -4.50M | -4.31M |
Balance Sheet | |||||
| Total Assets | 3.18M | 2.34M | 2.73M | 4.20M | 6.08M |
| Cash, Cash Equivalents and Short-Term Investments | 2.91M | 2.03M | 2.08M | 3.81M | 5.36M |
| Total Debt | 19.55K | 55.00K | 86.28K | 113.74K | 137.80K |
| Total Liabilities | 987.10K | 518.17K | 857.46K | 396.67K | 1.30M |
| Stockholders Equity | 2.19M | 1.82M | 1.87M | 3.81M | 4.78M |
Cash Flow | |||||
| Free Cash Flow | -2.53M | -1.97M | -3.90M | -4.47M | -3.53M |
| Operating Cash Flow | -2.53M | -1.97M | -3.90M | -4.47M | -3.43M |
| Investing Cash Flow | -4.74K | -1.68K | 20.74K | 20.84K | -180.27K |
| Financing Cash Flow | 3.31M | 1.92M | 2.15M | 2.92M | 7.16M |
SPC Nickel Technical Analysis
Negative
0.08
Price Trends
0.07
Negative
0.07
Negative
0.05
Negative
Market Momentum
>-0.01
Positive
36.35
Neutral
17.78
Positive
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For TSE:SPC, the sentiment is Negative. The current price of 0.08 is above the 20-day moving average (MA) of 0.06, above the 50-day MA of 0.07, and above the 200-day MA of 0.05, indicating a bearish trend. The MACD of >-0.01 indicates Positive momentum. The RSI at 36.35 is Neutral, neither overbought nor oversold. The STOCH value of 17.78 is Positive, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for TSE:SPC.
SPC Nickel 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% | |
49 Neutral | C$15.57M | -5.07 | -9.69% | ― | ― | ― | |
46 Neutral | C$11.83M | -6.86 | -11.70% | ― | ― | -17.47% | |
44 Neutral | C$43.23M | 2,878.60 | -7.40% | ― | ― | 74.27% | |
43 Neutral | C$18.40M | -11.07 | -237.82% | ― | ― | 10.17% | |
43 Neutral | C$27.59M | -4.42 | 82.92% | ― | ― | 37.82% | |
43 Neutral | C$29.71M | -12.53 | -83.99% | ― | ― | 21.31% |
* Basic Materials Sector Average
TSE:SPC
SPC Nickel
0.05
0.02
61.29%
TSE:SX
St-Georges Platinum and Base Metals
0.05
-0.03
-37.50%
TSE:TN
Tartisan Nickel Corp
0.33
0.18
120.00%
TSE:GIGA
Giga Metals Corporation
0.09
-0.02
-14.29%
TSE:NICO
Class 1 Nickel & Technologies
0.15
-0.08
-34.78%
TSE:EVNI
EV Nickel, Inc.
0.23
-0.06
-20.69%
SPC Nickel Corporate Events
Business Operations and StrategyPrivate Placements and Financing
SPC Nickel Launches $6.6 Million Private Placement to Advance Critical Minerals Exploration
Positive
Mar 6, 2026
SPC Nickel Corp. has announced a non-brokered private placement to raise up to $6.6 million through the issuance of common share units and charity flow-through units, each bundled with half-warrants exercisable over 18 months. The company may also...
Business Operations and Strategy
SPC Nickel Metallurgical Tests De-Risk West Graham Project in Sudbury
Positive
Feb 27, 2026
SPC Nickel has reported positive metallurgical results from its 2025 study on the West Graham Nickel-Copper Project in Sudbury, Ontario, demonstrating that the disseminated sulphide mineralization responds well to conventional Sudbury flotation fl...
Business Operations and Strategy
SPC Nickel Outlines Major New Geophysical Targets at Muskox Cu-Ni-PGM Project
Positive
Jan 26, 2026
SPC Nickel has completed a 1,109 line-km MobileMT electromagnetic survey at its 100%-owned Muskox Cu-Ni-PGM Project in Nunavut, identifying a large, shallow, north-plunging conductive horizon more than 27 kilometres long, interpreted as serpentini...
Business Operations and Strategy
SPC Nickel Defines Large-Scale Conductive Targets at Muskox Cu-Ni-PGM Project in Nunavut
Positive
Jan 26, 2026
SPC Nickel has identified multiple large-scale, high-priority geophysical targets at its 100%-owned Muskox copper-nickel-PGM project in Nunavut following completion of a 1,109 line-km MobileMT electromagnetic survey. The new property-wide dataset ...
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.