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Canada Nickel Company
(CNC)
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Rating:49Neutral
Price Target:
C$1.50
▲(1.35% Upside)
Action:Reiterated
Date:08/24/26
The score is held down primarily by weak financial performance (no revenue, persistent losses, and higher TTM cash burn), which outweighs positives. Corporate events provide a modest offset via improved near-term financing runway and encouraging exploration updates. Technicals are broadly neutral and valuation is challenged by the negative P/E and lack of dividend support.
Positive Factors
Low-to-moderate leverage
Moderate leverage gives Canada Nickel greater financial flexibility than a highly debt-funded developer. A stronger capital structure can support permitting, engineering and exploration while reducing the burden of interest and refinancing as the Crawford project advances.
Negative Factors
No operating revenue
The absence of operating revenue confirms that Canada Nickel remains pre-commercial and has not demonstrated a revenue model in practice. Future value therefore depends on permitting, financing, construction and commissioning before nickel sales can begin.
Read all positive and negative factors
Positive Factors
Negative Factors
Low-to-moderate leverage
Moderate leverage gives Canada Nickel greater financial flexibility than a highly debt-funded developer. A stronger capital structure can support permitting, engineering and exploration while reducing the burden of interest and refinancing as the Crawford project advances.
Read all positive factors
Canada Nickel Company (CNC) vs. iShares MSCI Canada ETF (EWC)
Market Cap
C$357.13M
Dividend YieldN/A
Average Volume (3M)672.22K
Price to Earnings (P/E)―
Beta (1Y)1.48
Revenue GrowthN/A
EPS Growth-65.13%
CountryCA
Employees34
SectorBasic Materials
Sector Strength58
IndustryIndustrial Materials
Share Statistics
EPS (TTM)-0.11
Shares Outstanding244,607,510
10 Day Avg. Volume353,233
30 Day Avg. Volume672,218
Financial Highlights & Ratios
PEG Ratio-0.02
Price to Book (P/B)1.06
Price to Sales (P/S)0.00
P/FCF Ratio-45.78
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price Target
C$3.00Price Target Upside102.70% Upside
Rating ConsensusModerate Buy
Number of Analyst Covering1
EPS Forecast (FY)-0.06
Revenue Forecast (FY)C$636.00M
Canada Nickel Company Business Overview & Revenue Model
Company Description
Canada Nickel Company Inc., along with its subsidiary, focuses on the exploration, identification, and development of nickel sulphide resources. The company holds full ownership of the Crawford Nickel-Cobalt Sulphide project, strategically located...
How the Company Makes Money
CNC is primarily an exploration and development-stage company; public disclosures indicate it does not operate a producing mine, so recurring operating revenue from nickel sales is null. The company’s funding and value creation are typically drive...
Canada Nickel Company Financial Statement Overview
Summary
Income Statement
18
Very Negative
Balance Sheet
62
Positive
Cash Flow
27
Negative
| Breakdown | TTM | Oct 2025 | Jan 2025 | Jan 2024 | Jan 2023 | Oct 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 | 0.00 |
| EBITDA | -15.58M | -12.69M | -13.85M | -10.51M | -2.39M | -6.38M |
| Net Income | -24.82M | -26.21M | -3.22M | -14.22M | -5.54M | -6.38M |
Balance Sheet | ||||||
| Total Assets | 316.48M | 284.23M | 264.55M | 183.07M | 144.31M | 55.25M |
| Cash, Cash Equivalents and Short-Term Investments | 14.21M | 1.63M | 4.66M | 14.43M | 13.01M | 3.33M |
| Total Debt | 56.99M | 41.40M | 21.61M | 16.88M | 13.29M | 117.03K |
| Total Liabilities | 79.53M | 60.31M | 59.18M | 27.03M | 25.49M | 7.95M |
| Stockholders Equity | 234.44M | 221.41M | 205.38M | 156.04M | 118.83M | 47.30M |
Cash Flow | ||||||
| Free Cash Flow | -18.48M | -5.13M | -15.08M | -7.51M | -2.10M | -6.71M |
| Operating Cash Flow | -18.41M | -4.99M | -14.84M | -7.39M | -1.87M | -6.30M |
| Investing Cash Flow | -46.60M | -45.53M | -56.91M | -37.37M | -49.51M | -19.84M |
| Financing Cash Flow | 78.70M | 47.50M | 61.97M | 46.19M | 61.06M | 18.30M |
Canada Nickel Company Technical Analysis
Negative
1.48
Price Trends
1.46
Negative
1.55
Negative
1.62
Negative
Market Momentum
-0.01
Positive
46.29
Neutral
22.82
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For TSE:CNC, the sentiment is Negative. The current price of 1.48 is below the 20-day moving average (MA) of 1.51, above the 50-day MA of 1.46, and below the 200-day MA of 1.62, indicating a bearish trend. The MACD of -0.01 indicates Positive momentum. The RSI at 46.29 is Neutral, neither overbought nor oversold. The STOCH value of 22.82 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for TSE:CNC.
Canada Nickel Company 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$357.13M | -13.12 | -10.81% | ― | ― | -65.13% | |
48 Neutral | C$35.79M | -8.25 | -154.32% | ― | ― | 6.73% | |
46 Neutral | C$101.12M | 38.22 | 2.38% | ― | ― | ― | |
44 Neutral | C$107.38M | -16.04 | -10.05% | ― | ― | -95.41% | |
44 Neutral | C$17.40M | -19.30 | -5.65% | ― | ― | 37.78% | |
44 Neutral | C$30.48M | -23.44 | 45.30% | ― | ― | 45.30% |
* Basic Materials Sector Average
TSE:CNC
Canada Nickel Company
1.46
0.58
65.91%
TSE:FPX
FPX Nickel
0.34
0.09
36.00%
TSE:TN
Tartisan Nickel Corp
0.11
0.03
37.50%
TSE:NKL
Nickel 28 Capital Corp
1.18
0.49
70.29%
TSE:NICO
Class 1 Nickel & Technologies
0.15
0.11
233.33%
TSE:SPC
SPC Nickel
0.08
0.05
166.67%
Canada Nickel Company Corporate Events
Business Operations and StrategyPrivate Placements and Financing
Canada Nickel Raises C$21 Million in Upsized Private Placement to Advance Crawford Project
Positive
Aug 28, 2026
Canada Nickel Company Inc., a Canadian nickel-sulphide project developer targeting the electric vehicle and stainless-steel markets, is also working on net-zero carbon nickel, cobalt and iron products through its flagship Crawford project in the T...
Business Operations and StrategyPrivate Placements and Financing
Canada Nickel Upsizes Private Placement to C$21 Million on Strong Demand
Positive
Aug 12, 2026
Canada Nickel Company has increased its previously announced non-brokered private placement from C$15 million to up to C$21 million in gross proceeds in response to strong investor demand. The upsized offering will comprise up to 14 million units ...
Business Operations and StrategyPrivate Placements and Financing
Canada Nickel Seeks C$15 Million in Private Placement to Advance Crawford Project
Positive
Aug 12, 2026
Canada Nickel Company has launched a non-brokered private placement seeking gross proceeds of C$15 million through the issuance of 10 million units priced at C$1.50, each comprising one common share and half a warrant exercisable at C$2.25 over 36...
Business Operations and StrategyM&A Transactions
Canada Nickel Hits Highest-Grade Intervals Yet at Reid as It Expands Timmins Footprint
Positive
Aug 6, 2026
Canada Nickel reported its highest-grade nickel intervals to date from the Reid Nickel Sulphide Project, including 1.01% nickel over 4.5 metres within a broader 0.54% nickel over 43.5 metres and 0.29% nickel over 576.6 metres in hole REI26-92A. Th...
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.