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CANEX Metals
(CANX)
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Rating:44Neutral
Price Target:
C$0.34
▲(13.33% Upside)
Action:Reiterated
Date:10/17/26
The score is primarily held back by weak financial performance (no revenue, higher TTM losses and cash burn), with only partial support from a debt-free balance sheet and improved equity capitalization. Technical indicators also point to weak momentum, and valuation signals are constrained by a negative P/E with no dividend yield data.
Positive Factors
Debt-free balance sheet
Zero debt across all periods removes interest expense and lowers balance-sheet stress, giving CANEX more flexibility to direct available capital toward exploration and property holding costs. This conservative structure also reduces refinancing exposure while projects remain pre-revenue.
Negative Factors
No operating revenue
No revenue in annual and TTM periods confirms CANEX remains pre-revenue and dependent on exploration success rather than established operating income. Without producing-mine revenue, funding for ongoing programs and corporate costs must come from capital markets or eventual project transactions.
Read all positive and negative factors
Positive Factors
Negative Factors
Debt-free balance sheet
Zero debt across all periods removes interest expense and lowers balance-sheet stress, giving CANEX more flexibility to direct available capital toward exploration and property holding costs. This conservative structure also reduces refinancing exposure while projects remain pre-revenue.
Read all positive factors
CANEX Metals (CANX) vs. iShares MSCI Canada ETF (EWC)
Market Cap
C$91.59M
Dividend YieldN/A
Average Volume (3M)375.78K
Price to Earnings (P/E)―
Beta (1Y)1.26
Revenue GrowthN/A
EPS Growth-232.26%
CountryCA
Employees389
SectorBasic Materials
Sector Strength58
IndustryGold
Share Statistics
EPS (TTM)-0.01
Shares Outstanding247,532,840
10 Day Avg. Volume183,933
30 Day Avg. Volume375,783
Financial Highlights & Ratios
PEG Ratio-0.76
Price to Book (P/B)2.90
Price to Sales (P/S)0.00
P/FCF Ratio-83.56
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
CANEX Metals Business Overview & Revenue Model
Company Description
CANEX Metals Inc., explores and develops of mineral properties in Canada and the United States. The company explores for gold, copper, and silver deposits. It holds interests in the Gold Range property that consists of 261 lode mining claims and 2...
How the Company Makes Money
CANEX Metals does not primarily generate operating revenue from producing mines; instead, it typically creates potential value by advancing exploration assets and seeking to monetize them through transactions and capital markets. The company’s eco...
CANEX Metals Financial Statement Overview
Summary
Income Statement
12
Very Negative
Balance Sheet
55
Neutral
Cash Flow
24
Negative
| Breakdown | TTM | Sep 2025 | Sep 2024 | Sep 2023 | Sep 2022 | Sep 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Gross Profit | -2.25K | -4.73K | -2.13K | -3.38K | -30.00 | -18.00 |
| EBITDA | -2.05M | -492.08K | -246.87K | -463.60K | -781.33K | -805.00K |
| Net Income | -1.95M | -496.82K | -279.00K | -535.40K | -781.36K | -806.00K |
Balance Sheet | ||||||
| Total Assets | 32.56M | 7.60M | 5.97M | 5.92M | 5.77M | 3.88M |
| Cash, Cash Equivalents and Short-Term Investments | 724.44K | 663.91K | 189.13K | 785.75K | 1.77M | 1.82M |
| Total Debt | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Total Liabilities | 2.35M | 319.77K | 96.15K | 98.25K | 145.09K | 233.70K |
| Stockholders Equity | 30.21M | 7.28M | 5.87M | 5.83M | 5.62M | 3.65M |
Cash Flow | ||||||
| Free Cash Flow | -1.35M | -252.24K | -596.13K | -1.52M | -2.59M | -1.28M |
| Operating Cash Flow | -1.31M | -252.24K | -251.90K | -465.71K | -528.57K | -481.98K |
| Investing Cash Flow | -2.23M | -956.20K | -282.67K | -888.91K | -1.83M | -668.50K |
| Financing Cash Flow | 3.00M | 1.71M | -3.25K | 591.97K | 2.62M | 1.90M |
CANEX Metals Technical Analysis
Neutral
0.30
Price Trends
0.37
Negative
0.31
Positive
0.28
Positive
Market Momentum
>-0.01
Positive
44.51
Neutral
16.67
Positive
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For TSE:CANX, the sentiment is Neutral. The current price of 0.3 is below the 20-day moving average (MA) of 0.41, below the 50-day MA of 0.37, and above the 200-day MA of 0.28, indicating a neutral trend. The MACD of >-0.01 indicates Positive momentum. The RSI at 44.51 is Neutral, neither overbought nor oversold. The STOCH value of 16.67 is Positive, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Neutral sentiment for TSE:CANX.
CANEX Metals 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% | |
54 Neutral | C$29.56M | 11.40 | 10.78% | ― | ― | ― | |
49 Neutral | C$38.38M | -2.21 | -44.03% | ― | ― | -761.62% | |
48 Neutral | C$51.68M | -1.28 | 4706.10% | ― | ― | -131.06% | |
45 Neutral | C$35.36M | -6.99 | -18.49% | ― | ― | 31.25% | |
45 Neutral | C$35.19M | 0.18 | 0.37% | ― | ― | ― | |
44 Neutral | C$91.59M | -35.92 | -11.17% | ― | ― | -232.26% |
* Basic Materials Sector Average
TSE:CANX
CANEX Metals
0.37
0.26
221.74%
TSE:BTR
BonTerra Resources
0.14
-0.05
-27.84%
TSE:JG
Japan Gold
0.10
-0.03
-23.08%
TSE:USGD
American Pacific Mining
0.15
-0.09
-36.96%
TSE:FUTR
Gold'n Futures Mineral
0.33
-0.68
-67.50%
TSE:RDG
Ridgeline Minerals
0.21
-0.09
-30.51%
CANEX Metals Corporate Events
Business Operations and StrategyLegal Proceedings
Court voids Helix joint venture, clearing path for CANEX at Gold Basin
Positive
Oct 13, 2026
The Supreme Court of British Columbia has declared Helix Resources Ltd.’s earn-in and joint venture agreement on CANEX Metals’ Gold Basin property to be set aside and unenforceable. The ruling clarifies that Helix has no rights or inte...
Business Operations and StrategyM&A TransactionsPrivate Placements and Financing
CANEX Metals Raises C$9.55 Million to Accelerate Exploration at Gold and Copper Projects
Positive
Sep 29, 2026
CANEX Metals has closed an oversubscribed non-brokered private placement raising C$9.55 million through the issuance of common and charity flow-through shares. The financing drew a C$3 million lead order from its largest shareholder, N. Eric Fier,...
Business Operations and StrategyPrivate Placements and Financing
CANEX Metals Upsizes Financing to C$9 Million to Advance Gold and Copper Projects
Positive
Sep 8, 2026
CANEX Metals Inc., a Calgary-based junior exploration company focused on gold and copper projects in Arizona and British Columbia, has expanded its non-brokered equity financing in response to strong shareholder demand. The firm’s portfolio ...
Business Operations and StrategyPrivate Placements and Financing
CANEX Metals Secures C$6.5 Million to Drive Exploration at Gold Basin and Louise Projects
Positive
Sep 8, 2026
CANEX Metals has announced a C$6.5 million strategic financing to accelerate exploration and pre-development at its newly consolidated Gold Basin/Gold Range oxide gold project in Northern Arizona, and to fund drilling at the Louise Copper-Gold Por...
Business Operations and StrategyM&A Transactions
CANEX Finalizes Gold Basin Takeover and Ramps Up Exploration in Arizona and B.C.
Positive
Aug 18, 2026
CANEX Metals has initiated the final procedural step to complete its year-long hostile acquisition of Gold Basin Resources, marking the first successful takeover bid of a cease-traded issuer in Canada. The consolidation unites the Gold Range and G...
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.