Tartisan Nickel Corp (TN) AI Stock Analysis

• Market Cap: C$37.33M
• Dividend Yield: N/A
• Average Volume (3M): 107.51K
• Price to Earnings (P/E): 2878.6
• Beta (1Y): 0.87
• Revenue Growth: N/A
• EPS Growth: 74.27%
• Country: CA
• Employees: N/A
• Sector: Basic Materials
• Sector Strength: 58
• Industry: Industrial Materials
• EPS (TTM): 0.00
• Shares Outstanding: 130,996,780
• 10 Day Avg. Volume: 83,924
• 30 Day Avg. Volume: 107,509
• PEG Ratio: 0.21
• Price to Book (P/B): 1.58
• Price to Sales (P/S): 0.00
• P/FCF Ratio: -8.05
• 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: C$0.60
• Price Target Upside: 114.29% Upside
• Rating Consensus: Moderate Buy
• Number of Analyst Covering: 1
• EPS Forecast (FY): N/A
• Revenue Forecast (FY): N/A

• Rating: 44 Neutral
• Price Target: C$0.29 ▲(2.14% Upside)
• Action: Reiterated Date: 03/06/26
• Date: Action: Reiterated 03/06/26

The score is primarily weighed down by weak financial performance driven by a pre-revenue model with ongoing losses and sustained cash burn, despite a low-debt balance sheet. Technicals also lean negative with price below key moving averages and a negative MACD, and valuation is pressured by an extremely high P/E with no dividend support.

Positive Factors

Conservative balance sheet

Very low leverage and stable assets reduce financial risk for an exploration company. With roughly $14.5M of equity and assets around $15.8M TTM, management has flexibility to pace programs, withstand commodity cycles, and avoid near-term insolvency, preserving optionality for project advancement.

Narrowing net losses trend

A sustained reduction in net losses indicates improving cost control and operational discipline. Over 2–6 months this trajectory can lower the frequency/amount of capital raises required, increase runway for exploration work, and improve the odds of reaching value-enhancing drilling or deal milestones.

Nickel-focused exploration exposure

Concentrated exposure to nickel provides structural upside if exploration converts to resources given long-term battery and industrial demand. As an early-stage explorer, successful discoveries or JV/option deals offer scalable value creation tied to durable secular demand for battery metals.

Negative Factors

Persistent negative cash flow

Consistent negative operating and free cash flow means the company cannot self-fund exploration or development. Over time this forces reliance on external capital, limits ability to execute multi-stage programs, and increases the chance that projects are delayed or scaled back if financing conditions worsen.

Reliance on equity financing

Dependence on issuing equity or monetizing assets for cash is structurally dilutive and timing-dependent. In multi-quarter horizons this reliance can erode existing shareholders' stakes, hamper long-term returns, and expose project timelines to capital-market volatility that may delay value realization.

Negative returns on equity

A TTM ROE around -7% signals capital is not creating value. Persistent negative returns increase pressure to raise more capital or sell assets and make it harder to attract non-dilutive funding. Over months, this dynamic can limit scale-up options and compress long-term shareholder value.

Tartisan Nickel Corp Business Overview & Revenue Model

Company Description

Tartisan Nickel Corp. engages in the acquisition, exploration, and development of mineral properties in Canada and Peru. The company primarily explores for nickel, copper, and cobalt deposits. Its flagship property is the 100% owned Kenbridge nickel project, which includes 93 contiguous patented mining claims, 114 unpatented single cell mining claims, and four mining licenses covering an area of approximately 3,668.13 hectares located in Kenora Mining Division, Northwestern Ontario. The company was formerly known as Tartisan Resources Corp. and changed its name to Tartisan Nickel Corp. in February 2018. Tartisan Nickel Corp. was incorporated in 2008 and is headquartered in Toronto, Canada.

How the Company Makes Money

Tartisan Nickel Corp makes money primarily through the exploration and development of its mineral properties, which are focused on nickel and other base metals. The company generates revenue by discovering and developing mineral resources that can be sold or leased to larger mining companies or by eventually bringing the properties into production. Key revenue streams include the sale of extracted minerals, partnerships or joint ventures with other mining companies, and potentially receiving royalties or fees from the development of its properties. The company's earnings are significantly influenced by factors such as commodity prices, extraction and production costs, and the successful development and commercialization of its mineral projects.

Tartisan Nickel Corp Financial Statement Overview

Summary

Financials reflect an early-stage, pre-revenue profile with persistent losses and negative cash generation. Positives include a very low-debt balance sheet (minimal leverage) and a meaningful narrowing of losses versus prior years, but ongoing negative operating cash flow and free cash flow keep overall financial quality weak.

Income Statement

The company is pre-revenue across all periods shown (revenue remains at 0), so results are driven by ongoing operating costs. Profitability is consistently negative, with EBIT and net income losses in the latest TTM (Trailing-Twelve-Months) (EBIT about -$1.1M; net loss about -$0.8M). Losses have narrowed meaningfully versus the larger net losses seen in prior years (notably 2023–2025 annual periods), which is a positive trajectory, but the absence of revenue and persistent operating losses keep the score low.

Balance Sheet

The balance sheet is conservatively levered, with very low debt relative to equity (debt-to-equity roughly ~0.002 in the latest TTM (Trailing-Twelve-Months)), which reduces financial risk. Equity remains substantial (about $14.5M TTM) and assets are relatively stable (about $15.8M TTM). The key weakness is negative returns on equity in most periods (TTM return on equity about -7%), reflecting ongoing losses and value dilution risk if losses persist.

Cash Flow

Cash generation is a clear pressure point: operating cash flow and free cash flow are negative in every period shown, including the latest TTM (Trailing-Twelve-Months) (operating cash flow about -$1.8M; free cash flow about -$3.4M). There is some improvement in free cash flow growth in the latest TTM (Trailing-Twelve-Months), but the business still relies on funding to cover cash burn. Cash outflows remain disconnected from earnings quality (cash flow remains negative while net losses continue), which elevates financing and liquidity risk over time.

Breakdown	TTM	Jun 2025	Jun 2024	Jun 2023	Jun 2022	Jun 2021
Income Statement
Total Revenue	0.00	0.00	0.00	0.00	0.00	0.00
Gross Profit	0.00	0.00	0.00	0.00	0.00	-3.29K
EBITDA	-1.04M	-742.88K	-1.40M	-6.53M	-1.85M	-1.95M
Net Income	-755.17K	-2.17M	-3.30M	-5.95M	-1.10M	11.26M
Balance Sheet
Total Assets	15.82M	13.21M	13.54M	14.97M	20.02M	17.65M
Cash, Cash Equivalents and Short-Term Investments	1.38M	1.78K	2.15M	3.56M	11.30M	14.30M
Total Debt	17.00K	22.00K	3.29K	5.04K	0.00	71.74K
Total Liabilities	1.32M	1.37M	1.18M	427.50K	1.08M	721.74K
Stockholders Equity	14.49M	11.83M	12.36M	14.54M	18.94M	16.93M
Cash Flow
Free Cash Flow	-3.43M	-2.33M	-1.80M	-3.48M	-5.75M	-1.41M
Operating Cash Flow	-1.83M	-808.93K	-906.66K	-1.07M	-1.00M	-858.27K
Investing Cash Flow	-1.61M	-776.98K	235.26K	-567.87K	-280.55K	24.49K
Financing Cash Flow	4.63M	1.59M	667.60K	1.26M	1.65M	854.07K

Tartisan Nickel Corp Technical Analysis

• Technical Analysis Sentiment: Neutral
• Last Price: 0.28
• 50DMA: Negative
• 100DMA: Positive
• 200DMA: Positive
• MACD: Positive
• RSI: Neutral
• STOCH: Neutral

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For TSE:TN, the sentiment is Neutral. The current price of 0.28 is below the 20-day moving average (MA) of 0.34, below the 50-day MA of 0.34, and above the 200-day MA of 0.16, indicating a neutral trend. The MACD of -0.01 indicates Positive momentum. The RSI at 33.06 is Neutral, neither overbought nor oversold. The STOCH value of 20.36 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Neutral sentiment for TSE:TN.

Tartisan Nickel Corp 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%
GIGA	46 Neutral	C$14.46M	-6.86	-11.32%	―	―	-17.47%
TN	44 Neutral	C$37.33M	2,878.60	-7.40%	―	―	74.27%
SX	44 Neutral	C$14.02M	-5.07	-9.69%	―	―	―
NICO	43 Neutral	C$14.72M	-4.42	―	―	―	37.82%
SPC	43 Neutral	C$23.92M	-11.07	-150.61%	―	―	10.17%
EVNI	43 Neutral	C$29.71M	-12.53	-58.79%	―	―	21.31%

Tartisan Nickel Corp Corporate Events

Tartisan Nickel Reports High-Grade Hit in Ongoing Drilling at Kenbridge Project

Tartisan Nickel Corp. has reported new drilling results from its Phase 1 program at the Kenbridge nickel-copper-cobalt project in northwestern Ontario, where it is targeting extensions of existing sulphide mineralization. The company has completed 3,350 metres of drilling across four holes, with a fifth underway to probe below the current shaft bottom and assess the depth continuity of the deposit.

The latest reported hole, KB26-209, intersected two mineralized zones, including a 3.0-metre interval grading 2.17% nickel and 1.45% copper, which management says supports the continuity of high-grade nickel-copper mineralization. These results are expected to bolster Tartisan’s confidence in potentially upgrading the Kenbridge resource and enhancing the project’s overall value proposition for stakeholders, while additional assays from other holes are still pending.

The program is supported by detailed quality assurance and quality control procedures, including systematic use of certified reference materials, duplicates, and blanks, with analyses carried out by accredited independent laboratories. This emphasis on rigorous sampling and testing standards aims to ensure reliability of the assay data as Tartisan refines its geological model and evaluates Kenbridge’s development potential.

The most recent analyst rating on (TSE:TN) stock is a Hold with a C$0.35 price target. To see the full list of analyst forecasts on Tartisan Nickel Corp stock, see the TSE:TN Stock Forecast page.

Tartisan Nickel Expands Turtle Pond Claims to Bolster Kenbridge Hub Strategy

Tartisan Nickel Corp., a Canadian critical minerals explorer and developer with key nickel, copper, cobalt and silver projects in Ontario, has expanded its land position at the Turtle Pond area near Dryden by acquiring eleven additional nickel-copper claims. The enlarged property, now 161 claims over 3,375 hectares held through subsidiary Canadian Arrow Mines Limited, sits in an infrastructure-rich district and complements the firm’s flagship Kenbridge Nickel-Copper-Cobalt Project.

Historical work at Turtle Pond’s Glatz, Double E and Night Danger showings has returned multiple intersections of nickel-copper sulphide mineralization, including grades above 1% nickel in both surface sampling and drilling. Following a late-2024 geophysical survey to refine drill targets, Tartisan plans an exploration program of surface sampling and potential diamond drilling in 2026–27, advancing its strategy to build Kenbridge into an operating mine supported by a central milling hub for regional deposits.

The most recent analyst rating on (TSE:TN) stock is a Sell with a C$0.38 price target. To see the full list of analyst forecasts on Tartisan Nickel Corp stock, see the TSE:TN Stock Forecast page.

Tartisan Nickel Expands Turtle Pond Holdings to Bolster Kenbridge-Centred Growth Plan

Tartisan Nickel Corp. has expanded its land position at the Turtle Pond area in northwestern Ontario by acquiring eleven additional nickel-copper claims, bringing the total property package to 161 claims covering 3,375 hectares. The claims are held through its wholly owned subsidiary Canadian Arrow Mines Limited and are located in an area with strong infrastructure, approximately 70 kilometres east of the company’s flagship Kenbridge project.

Historical work at Turtle Pond, including trenching, grab sampling, and drilling at the Glatz, Double E, and Night Danger showings, has identified nickel-copper sulphide mineralization with locally high-grade intervals, underscoring the area’s exploration potential. A recent TDEM geophysical survey was completed in late 2024 to refine drill targets, and management says the enlarged claim package supports its strategy of developing Kenbridge as an operating mine with a central mill, with new surface sampling and potential diamond drilling at Turtle Pond planned for 2026–27.

The most recent analyst rating on (TSE:TN) stock is a Sell with a C$0.38 price target. To see the full list of analyst forecasts on Tartisan Nickel Corp stock, see the TSE:TN Stock Forecast page.

Tartisan Nickel Adds Medal of Honor Recipient Jack Jacobs to Advisory Board

Tartisan Nickel Corp. has appointed retired U.S. Army Colonel and Congressional Medal of Honor recipient Jack Jacobs to its Board of Advisors, bringing in a high-profile leader with extensive military, academic, and financial sector experience. Jacobs’ background in defense-related finance, capital markets, and engagement with U.S. defense industrial projects is expected to support Tartisan’s efforts to advance its critical minerals portfolio and strengthen relationships with government and corporate stakeholders as the company seeks to elevate its position in the critical minerals space in 2026 and beyond.

The most recent analyst rating on (TSE:TN) stock is a Sell with a C$0.38 price target. To see the full list of analyst forecasts on Tartisan Nickel Corp stock, see the TSE:TN Stock Forecast page.

Tartisan Hits High-Grade Nickel-Copper Intercepts at Kenbridge as 2026 Drill Program Advances

Tartisan Nickel Corp. reported encouraging assay results from the first infill drill hole of its 2026 Phase 1 drill program at the Kenbridge Nickel-Copper-Cobalt Project in northwestern Ontario, confirming significant nickel and copper mineralization in both the A and B zones. Hole KB26-207 intersected 10.7 metres grading 1.58% nickel and 0.79% copper, including 5.0 metres at 3.02% nickel and 1.48% copper, while a second interval returned 9.1 metres of 0.58% nickel and 0.20% copper, supporting efforts to upgrade inferred resources and test the deposit’s depth and on-strike extensions as drilling continues below the existing shaft. With 2,100 metres drilled to date and assays pending from additional holes, the program aims to enhance the size and confidence of the Kenbridge resource, which benefits from existing underground infrastructure and year-round road access, potentially improving the project’s development prospects and Tartisan’s positioning in the critical minerals sector.

The most recent analyst rating on (TSE:TN) stock is a Sell with a C$0.38 price target. To see the full list of analyst forecasts on Tartisan Nickel Corp stock, see the TSE:TN Stock Forecast page.

Tartisan Nickel Moves to Reactivate Historic Sill Lake Silver Project in Ontario

Tartisan Nickel Corp. is moving to reactivate its 100%-owned Sill Lake Silver Project, a 970-hectare former silver-lead producer located north of Sault Ste. Marie, Ontario, by advancing renewed exploration and development efforts. The property hosts a historic NI 43-101 mineral resource estimate for the main vein totalling 103,644 tonnes in measured and indicated resources grading 4.42 oz/ton silver, with associated lead and zinc, and the company plans to evaluate three underexplored vein trends that may hold additional silver mineralization. As part of its advancement strategy, Tartisan is compiling historic data, defining priority drill targets, assessing permitting and infrastructure needs, and initiating stakeholder engagement, positioning Sill Lake as a brownfields silver-lead opportunity in a established Ontario mining jurisdiction that could yield meaningful results through modern validation and drilling programs, though the existing resource figures remain historical and non-current.

The most recent analyst rating on (TSE:TN) stock is a Hold with a C$0.41 price target. To see the full list of analyst forecasts on Tartisan Nickel Corp stock, see the TSE:TN Stock Forecast page.

Tartisan Nickel Raises $1 Million to Advance Kenbridge Nickel-Copper-Cobalt Drilling

Tartisan Nickel Corp. has closed a non-brokered flow-through financing of approximately $1 million through the issuance of 4,166,600 flow-through shares at $0.24, with no commission paid and subject to standard hold periods and regulatory review. The proceeds, designated as eligible Canadian Exploration Expenses, will fund ongoing drilling and exploration work at the company’s flagship Kenbridge Nickel-Copper-Cobalt Project in Northwestern Ontario, where management aims to expand the known resource and plans to update the market as results from the current drill program become available.

The most recent analyst rating on (TSE:TN) stock is a Hold with a C$0.20 price target. To see the full list of analyst forecasts on Tartisan Nickel Corp stock, see the TSE:TN Stock Forecast page.

Tartisan Nickel Raises Additional $150,000 in Flow-Through Financing for Kenbridge Project

Tartisan Nickel Corp. has closed an additional $150,000 flow-through financing through the issuance of 750,000 flow-through shares at $0.20 per share, with the securities subject to a four-month-and-one-day holding period and customary regulatory approvals. The gross proceeds will be directed toward advancing exploration and development at the company’s wholly owned Kenbridge Nickel-Copper-Cobalt Project in northwestern Ontario, with a 6% cash commission and 6% broker warrants paid to eligible agents, underscoring ongoing investor support for Tartisan’s critical minerals portfolio and its efforts to advance Kenbridge toward further development milestones.

The most recent analyst rating on (TSE:TN) stock is a Buy with a C$0.45 price target. To see the full list of analyst forecasts on Tartisan Nickel Corp stock, see the TSE:TN Stock Forecast page.

Tartisan Nickel Plans $1 Million Flow-Through Financing for Kenbridge Exploration

Tartisan Nickel Corp. has proposed a non-brokered flow-through financing of up to $1,000,000, issuing flow-through common shares at $0.24 per share. The proceeds will be used to fund eligible Canadian Exploration Expenses that will be renounced to subscribers and directed toward continued exploration and development at the company’s flagship Kenbridge Nickel-Copper-Cobalt Project in Northwestern Ontario. The financing may include finder’s fees in the form of cash commissions and/or broker warrants, and remains subject to customary closing conditions, including regulatory approvals and a statutory hold period under Canadian securities laws.

The most recent analyst rating on (TSE:TN) stock is a Buy with a C$0.45 price target. To see the full list of analyst forecasts on Tartisan Nickel Corp stock, see the TSE:TN Stock Forecast page.

Tartisan Nickel Raises $1.33 Million to Advance Kenbridge Critical Minerals Project

Tartisan Nickel Corp. has closed a $1.325 million flow-through private placement, issuing 6,625,000 flow-through shares at $0.20 each, subject to a standard four-month-plus-one-day hold period. The gross proceeds will be directed to advancing exploration and development at its 100%-owned Kenbridge Nickel-Copper-Cobalt Project in Northwestern Ontario, underscoring the company’s focus on progressing its critical minerals portfolio; the financing also involved payment of a 6% cash commission and 6% broker warrants to eligible agents, reflecting continued capital markets support for its flagship project.

The most recent analyst rating on (TSE:TN) stock is a Buy with a C$0.45 price target. To see the full list of analyst forecasts on Tartisan Nickel Corp stock, see the TSE:TN Stock Forecast page.

Tartisan Nickel Corp. Commences Drilling at Kenbridge Project

Tartisan Nickel Corp. has announced the commencement of drilling by Rodren Drilling Ltd. at its Kenbridge Nickel Copper Cobalt Project in Northwestern Ontario. This drilling campaign aims to achieve several objectives, including resource conversion, testing potential extensions of high-grade nickel-copper sulphide zones, and gathering technical data for future engineering and development studies. The initiative is expected to enhance geological confidence and demonstrate the strategic value of the Kenbridge Project as a critical mineral asset.

The most recent analyst rating on (TSE:TN) stock is a Buy with a C$0.45 price target. To see the full list of analyst forecasts on Tartisan Nickel Corp stock, see the TSE:TN Stock Forecast page.