Trigon Metals Inc (TM) AI Stock Analysis

• Market Cap: C$21.09M
• Dividend Yield: N/A
• Average Volume (3M): 37.48K
• Price to Earnings (P/E): ―
• Beta (1Y): 0.55
• Revenue Growth: -100.00%
• EPS Growth: 35.19%
• Country: CA
• Employees: 535
• Sector: Basic Materials
• Sector Strength: 58
• Industry: Copper
• EPS (TTM): -0.01
• Shares Outstanding: 54,779,080
• 10 Day Avg. Volume: 17,880
• 30 Day Avg. Volume: 37,481
• PEG Ratio: >-0.01
• Price to Book (P/B): -10.45
• Price to Sales (P/S): 0.00
• P/FCF Ratio: 89.92
• 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: 52 Neutral
• Price Target: C$0.43 ▲(34.06% Upside)

The score is held down primarily by weak financial performance (no revenue, ongoing losses, negative operating cash flow, and negative equity with rising debt). This is partially offset by strong technical momentum (price above key moving averages with a positive MACD), while valuation is constrained by loss-making results and no dividend data.

Positive Factors

Strategic Asset Sale

The proposed sale of Kombat Mine could provide Trigon with financial flexibility and focus on its copper and silver projects, enhancing growth prospects.

Operational Focus

Focusing resources on projects in Morocco and Namibia post-sale could streamline operations and potentially improve project outcomes.

Capital Raising

Successful capital raising through private placement indicates strong investor interest, providing funds for working capital and corporate purposes.

Negative Factors

Financial Instability

Negative profitability and high leverage highlight financial instability, posing risks to long-term sustainability and operational flexibility.

Operational Disruptions

Operational disruptions and equipment failures can lead to production halts, impacting revenue and increasing operational risks.

Erratic Revenue Growth

Erratic revenue growth reflects challenges in maintaining consistent operational performance, affecting long-term financial planning.

Trigon Metals Inc Business Overview & Revenue Model

Company Description

Trigon Metals Inc., together with its subsidiaries, engages in the acquisition, exploration, development, and maintenance of mines and mineral properties in the African continent. It primarily explores for copper, lead, and silver deposits. The company holds an 80% interest in its flagship project, the Kombat Mine Property, which consists of five mining licenses that covers approximately 1,219 hectares and one prospecting license covering 1,057 hectares located in Northern Namibia. It also holds 100% interest in the Silver Hill Project comprising approximately 16 square kilometers located in the Anti-Atlas region, Morocco. The company was formerly known as Kombat Copper Inc. and changed its name to Trigon Metals Inc. in December 28, 2016. Trigon Metals Inc. was incorporated in 2005 and is headquartered in Toronto, Canada.

How the Company Makes Money

Trigon Metals Inc. generates revenue primarily through the extraction and sale of base metals, particularly copper and silver, from its mining operations. The company's key revenue streams include the sale of extracted ore and refined metals to various industrial customers and metal traders. Trigon may also enter into strategic partnerships or joint ventures with other mining firms to enhance its operational capabilities and market reach. Additionally, fluctuations in global metal prices and the efficiency of the company's mining operations significantly influence its earnings.

Trigon Metals Inc Financial Statement Overview

Summary

Trigon Metals Inc exhibits financial instability characterized by negative profitability and high leverage. The income statement reveals negative gross and net profit margins with erratic revenue growth, while the balance sheet shows a high debt-to-equity ratio due to negative equity. Cash flow management is challenging with negative operating cash flow and reliance on financing activities.

Income Statement

Trigon Metals Inc shows a negative gross profit margin and net profit margin in the TTM, indicating challenges in managing costs relative to revenue. Revenue growth is erratic, with significant fluctuations over the years. EBITDA margins have been negative, highlighting operational inefficiencies. While there is some revenue generation, profitability remains a concern.

Balance Sheet

The company has a high debt-to-equity ratio due to negative equity, pointing to financial instability and potential solvency risks. Return on equity is negative, reflecting losses. The equity ratio is also negative, highlighting a concerning financial structure with liabilities exceeding assets.

Cash Flow

Cash flow management is challenging, with negative operating cash flow and inconsistent free cash flow trends. The free cash flow has shown some positive movement in recent TTM, but sustainability is uncertain given historical volatility. The reliance on financing activities for cash is evident.

Breakdown	TTM	Dec 2025	Dec 2024	Dec 2023	Dec 2022	Dec 2021
Income Statement
Total Revenue	0.00	0.00	9.59M	949.19K	0.00	0.00
Gross Profit	0.00	0.00	-1.15M	-454.19K	-194.28K	-14.59K
EBITDA	-3.96M	-4.07M	1.86M	-13.19M	-6.54M	-6.35M
Net Income	-1.72M	-7.54M	-1.05M	-16.47M	-6.48M	-5.05M
Balance Sheet
Total Assets	35.19M	35.76M	38.05M	35.67M	18.15M	3.02M
Cash, Cash Equivalents and Short-Term Investments	1.38M	1.04M	1.42M	20.73M	319.87K	2.65M
Total Debt	6.87M	1.38M	5.13M	194.18K	3.29M	0.00
Total Liabilities	47.84M	41.91M	42.13M	42.58M	9.27M	1.82M
Stockholders Equity	-6.93M	-729.26K	62.07K	-4.26M	9.78M	1.59M
Cash Flow
Free Cash Flow	-1.28M	84.77K	-22.34M	-13.59M	-16.43M	-3.10M
Operating Cash Flow	-6.48M	84.77K	-4.08M	-8.45M	-2.60M	-2.28M
Investing Cash Flow	0.00	-3.19M	-18.26M	-5.14M	-13.82M	-783.92K
Financing Cash Flow	5.13M	2.73M	3.02M	34.00M	14.07M	4.08M

Trigon Metals Inc Technical Analysis

• Technical Analysis Sentiment: Positive
• Last Price: 0.32
• 50DMA: Positive
• 100DMA: Positive
• 200DMA: Positive
• MACD: Negative
• RSI: Neutral
• STOCH: Neutral

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For TSE:TM, the sentiment is Positive. The current price of 0.32 is below the 20-day moving average (MA) of 0.33, above the 50-day MA of 0.28, and above the 200-day MA of 0.26, indicating a bullish trend. The MACD of 0.04 indicates Negative momentum. The RSI at 68.67 is Neutral, neither overbought nor oversold. The STOCH value of 68.01 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for TSE:TM.

Trigon Metals Inc 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%
TM	52 Neutral	C$21.09M	-5.89	―	―	-100.00%	35.19%
USCU	50 Neutral	C$26.24M	-22.50	-162.83%	―	―	1.23%
WEC	46 Neutral	C$1.69M	4.17	-2.57%	―	―	―
BCU	46 Neutral	C$8.19M	-9.68	-8.66%	―	―	31.11%
WCU	45 Neutral	C$2.63M	-0.12	-79.21%	―	―	-4.86%
CPER	44 Neutral	C$10.11M	-2.37	-84.76%	―	―	-11.14%

Trigon Metals Inc Corporate Events

Trigon Metals Closes Kombat Mine Sale to Fund Moroccan Copper Push

Trigon Metals has closed the sale of its interest in the Kombat Mine and related Namibian assets to Kamino Minerals Limited and its affiliate Horizon Corporation Limited, transferring full operational control of the mine to the buyer. The transaction, completed under a previously signed share purchase agreement, will deliver total cash consideration of US$24 million payable in eight instalments from April 2026, plus a contingent production payment of between US$3.5 million and US$13 million tied to future underground copper production, and a royalty interest on the project. By monetizing Kombat, Trigon significantly strengthens its balance sheet and secures funding for an aggressive exploration program at its Addana copper project in Morocco, marking a strategic pivot in its asset base and future growth focus, subject to final approval by the TSX Venture Exchange.

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

Trigon Metals Strengthens Board with Industry Veteran

Trigon Metals Inc. has appointed Noureddine Mokaddem to its board of directors, enhancing its governance with his extensive experience in the mining industry. Mokaddem’s appointment is expected to bolster Trigon’s exploration efforts in Morocco, particularly at the Addana project, and contribute to the company’s growth and shareholder value.

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

Trigon Metals Launches Drilling Campaign at Addana Project

Trigon Metals Inc. has announced the start of its first drilling campaign at the Addana Project in southern Morocco, targeting silver-lead polymetallic vein systems. The project aims to confirm the continuity and grade of mineralized veins, with the potential to expand vertically and laterally, enhancing Trigon’s position in the mining industry.

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