Surge Copper Corp (TSE:SURG)
:SURG
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Surge Copper Corp
(SURG)
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Rating:44Neutral
Price Target:
C$0.53
▼(-2.91% Downside)
Action:ReiteratedDate:03/20/26
The score is primarily held down by weak financial performance (no revenue, recurring losses, and ongoing cash burn), despite a low-debt balance sheet. Technical indicators also reflect bearish momentum versus key moving averages, and valuation is limited by the absence of earnings (negative P/E) with no dividend support.
Positive Factors
Low leverage / conservatively levered balance sheet
Very low debt and a conservatively levered balance sheet materially reduce solvency and liquidity risk for an exploration developer. This structural strength provides runway to pursue drilling and studies, and improves ability to obtain project financing on better terms over months.
Negative Factors
No revenue and persistent operating losses
The absence of operating revenue and recurring net losses mean the company cannot self-fund exploration from cash flows. Over a multi-month horizon this elevates execution risk, forces reliance on capital markets, and limits demonstrated operational progress toward producing cash-generating assets.
Read all positive and negative factors
Positive Factors
Negative Factors
Low leverage / conservatively levered balance sheet
Very low debt and a conservatively levered balance sheet materially reduce solvency and liquidity risk for an exploration developer. This structural strength provides runway to pursue drilling and studies, and improves ability to obtain project financing on better terms over months.
Read all positive factors
Surge Copper Corp (SURG) vs. iShares MSCI Canada ETF (EWC)
Market Cap
C$207.76M
Dividend YieldN/A
Average Volume (3M)520.21K
Price to Earnings (P/E)―
Beta (1Y)2.37
Revenue GrowthN/A
EPS Growth-18.67%
CountryCA
EmployeesN/A
SectorGeneral
Sector StrengthN/A
IndustryIndustrial Materials
Share Statistics
EPS (TTM)>-0.01
Shares Outstanding377,754,500
10 Day Avg. Volume434,681
30 Day Avg. Volume520,209
Financial Highlights & Ratios
PEG Ratio0.56
Price to Book (P/B)0.57
Price to Sales (P/S)0.00
P/FCF Ratio-15.28
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price Target
C$1.60Price Target Upside190.91% Upside
Rating ConsensusModerate Buy
Number of Analyst Covering2
EPS Forecast (FY)N/A
Revenue Forecast (FY)N/A
Surge Copper Corp Business Overview & Revenue Model
Company Description
Surge Copper Corp. engages in the acquisition, exploration, and development of mineral properties in Canada. It explores for copper, gold, silver, and molybdenum deposits. The company holds a 100% interest in the Ootsa property that comprises 138 ...
How the Company Makes Money
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Surge Copper Corp Financial Statement Overview
Summary
Income Statement
18
Very Negative
Balance Sheet
72
Positive
Cash Flow
30
Negative
| Breakdown | TTM | Jun 2025 | Jun 2024 | Jun 2022 | Jun 2021 | Jun 2020 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Gross Profit | -31.87K | 0.00 | -36.06K | -39.33K | -48.79K | -51.52K |
| EBITDA | -2.61M | -3.10M | -2.58M | -1.77M | -2.27M | -4.46M |
| Net Income | -3.49M | -2.05M | -1.73M | -2.11M | -4.89M | -5.80M |
Balance Sheet | ||||||
| Total Assets | 66.02M | 57.02M | 51.34M | 50.35M | 47.28M | 33.91M |
| Cash, Cash Equivalents and Short-Term Investments | 4.30M | 1.88M | 84.66K | 2.82M | 7.82M | 3.27M |
| Total Debt | 27.95K | 51.63K | 80.37K | 105.03K | 126.11K | 25.22K |
| Total Liabilities | 6.09M | 4.57M | 4.91M | 5.65M | 5.75M | 1.95M |
| Stockholders Equity | 59.94M | 52.44M | 46.43M | 44.70M | 41.53M | 31.96M |
Cash Flow | ||||||
| Free Cash Flow | -2.98M | -1.95M | -859.24K | -874.71K | -1.60M | -1.51M |
| Operating Cash Flow | -1.86M | -1.93M | -849.75K | -871.36K | -1.56M | -1.47M |
| Investing Cash Flow | -6.64M | -3.56M | -2.03M | -8.25M | -7.84M | -4.39M |
| Financing Cash Flow | 10.22M | 7.29M | 144.25K | 4.12M | 13.95M | 9.11M |
Surge Copper Corp Technical Analysis
Negative
0.55
Price Trends
0.60
Negative
0.52
Positive
0.36
Positive
Market Momentum
-0.02
Negative
45.79
Neutral
52.94
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For TSE:SURG, the sentiment is Negative. The current price of 0.55 is below the 20-day moving average (MA) of 0.57, below the 50-day MA of 0.60, and above the 200-day MA of 0.36, indicating a neutral trend. The MACD of -0.02 indicates Negative momentum. The RSI at 45.79 is Neutral, neither overbought nor oversold. The STOCH value of 52.94 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for TSE:SURG.
Surge Copper Corp Peers Comparison
UnderperformOutperform
Sector (55)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
55 Neutral | $6.65B | 3.83 | -15.92% | 6.20% | 10.91% | 7.18% | |
48 Neutral | C$132.46M | -32.36 | -7.36% | ― | ― | -60.92% | |
47 Neutral | C$150.84M | -18.01 | -58.94% | ― | ― | 19.92% | |
44 Neutral | C$207.76M | -21.25 | -4.43% | ― | ― | -18.67% | |
44 Neutral | C$134.58M | -19.89 | -6.13% | ― | ― | 54.00% | |
42 Neutral | C$84.03M | -0.27 | -265.40% | ― | ― | 62.30% |
* General Sector Average
TSE:SURG
Surge Copper Corp
0.55
0.46
478.95%
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Surge Copper Corp Corporate Events
Business Operations and StrategyPrivate Placements and Financing
Surge Copper Raises $16 Million in First Tranche of $20 Million Private Placement
Positive
Feb 27, 2026
Surge Copper Corp. has closed the first tranche of its previously announced $20 million non-brokered private placement, raising $16 million through the issuance of 32,040,000 units comprising one common share and one warrant each. The financing, s...
Business Operations and StrategyRegulatory Filings and Compliance
Surge Copper’s Berg Project Joins B.C. Critical Minerals Office Portfolio
Positive
Feb 20, 2026
Surge Copper Corp. has secured acceptance of its Berg Project into British Columbia’s Critical Minerals Office, aligning the large copper-molybdenum deposit with both provincial and federal priorities for secure, responsibly sourced mineral ...
Business Operations and StrategyPrivate Placements and Financing
Surge Copper Upsizes Private Placement to $20 Million for Berg and Ootsa Work
Positive
Feb 12, 2026
Surge Copper Corp. has upsized its previously announced non-brokered private placement to $20 million, now comprising 40 million units priced at $0.50 each. Management says the larger financing reflects strong investor demand and will materially b...
Business Operations and StrategyPrivate Placements and Financing
Surge Copper Launches $15 Million Private Placement to Advance Berg Project
Positive
Feb 10, 2026
Surge Copper Corp. has announced a non-brokered private placement of 30 million units at $0.50 per unit to raise $15 million, with each unit consisting of one common share and a three-year warrant exercisable at $1.00, subject to an acceleration c...
Business Operations and StrategyExecutive/Board Changes
Surge Copper Strengthens Executive Team and Aligns Incentives as Berg Project Advances
Positive
Jan 13, 2026
Surge Copper Corp. has appointed Jennifer Anthony as Vice President, Environment Regulatory Affairs, adding a senior executive with more than two decades of high-level experience in British Columbia’s public sector, particularly in environm...
Business Operations and Strategy
Surge Copper Advances Berg Project Toward Pre-Feasibility After 2025 Drilling Success
Positive
Jan 9, 2026
Surge Copper has completed its 2025 multidisciplinary drilling and data validation program at the Berg Project, generating key technical information to support an updated mineral resource estimate and a pre-feasibility study planned for 2026. The ...
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.