Dundee (DC.A) AI Stock Analysis

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Dundee

(TSX:DC.A)

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Rating:62Neutral

Price Target:CAD 4.00▲(15.61% Upside)

Action:reiterated

Date:10/23/26

The overall score of 62 reflects a company with a fortress-like balance sheet and an extremely low P/E ratio, which are significant strengths. However, these positives are heavily counterbalanced by a very weak technical picture, with the stock in a deep downtrend and showing strong bearish momentum. The core financial performance is mixed, as impressive net income is undermined by operating losses, making the low valuation potentially a value trap rather than an opportunity. The most significant risk is the technical weakness, while the primary support comes from the company's solid financial foundation and cheap valuation.

Positive Factors

Conservative balance sheetMinimal leverage and substantial equity provide Dundee with financial resilience and flexibility across its investment portfolio. Debt has also declined meaningfully from 2023–2024 levels, reducing balance-sheet strain and supporting continued capital allocation through variable market conditions.

Negative Factors

Volatile historical returnsThe wide variation in returns on equity indicates that Dundee’s performance is cyclical and dependent on changing results from its investment holdings. Such volatility makes earnings power less predictable over the next several quarters and complicates consistent capital planning.

Dundee (DC.A) vs. iShares MSCI Canada ETF (EWC)

Market Cap: CAD 213.66M
Dividend Yield: ―
Average Volume (3M): 155.41K
Price to Earnings (P/E): 1.3
Beta (1Y): 2.03
Revenue Growth: 148.84%
EPS Growth: 462.85%
Country: Canada
Employees: 14
Sector: Basic Materials
Sector Strength: 61
Industry: Asset Management

Dundee Business Overview & Revenue Model

Company Description

Dundee Corp. operates as a holding company, which engages in the provision of investment advisory, corporate finance, energy, resources, agriculture, real estate, and infrastructure. It also holds portfolio of investments in publicly listed and priva...

Dundee Financial Statement Overview

Summary

Financial performance is a tale of two stories. The balance sheet is exceptional, with negligible debt and a 44% return on equity, providing a strong foundation. Profitability has surged, but the TTM operating loss (negative EBIT) reveals a heavy reliance on volatile investment gains rather than consistent core operations. Cash flow has recently turned positive, a welcome improvement, but lacks a stable track record. The overall score reflects the strong balance sheet offset by inconsistent operational earnings quality.

Income Statement

65Positive

Balance Sheet

85Very Positive

Cash Flow

55Neutral

Financial statement breakdown
Breakdown	TTM	Dec 2025	Dec 2024	Dec 2023	Dec 2022	Dec 2021
Income Statement
Total Revenue	11.38M	6.84M	4.63M	6.79M	8.65M	18.45M
Gross Profit	9.28M	4.14M	3.37M	4.83M	5.58M	8.55M
EBITDA	249.46M	334.79M	62.36M	-35.03M	32.28M	-85.20M
Net Income	241.33M	320.50M	59.11M	-38.81M	28.99M	-97.07M
Balance Sheet
Total Assets	575.43M	627.32M	297.26M	309.74M	374.22M	358.19M
Cash, Cash Equivalents and Short-Term Investments	187.41M	455.52M	102.88M	122.03M	47.18M	93.85M
Total Debt	1.72M	1.95M	12.63M	20.93M	8.67M	9.21M
Total Liabilities	6.34M	26.81M	18.90M	28.36M	23.82M	25.30M
Stockholders Equity	569.04M	605.58M	283.69M	290.15M	354.14M	335.29M
Cash Flow
Free Cash Flow	13.86M	-10.86M	-14.44M	-15.03M	-21.44M	-11.54M
Operating Cash Flow	10.53M	-10.84M	-14.44M	-15.03M	-20.91M	-10.67M
Investing Cash Flow	135.19M	128.83M	79.31M	12.94M	-20.39M	51.55M
Financing Cash Flow	-2.56M	-6.51M	-59.22M	-18.95M	-5.18M	-69.60M

Dundee Technical Analysis

Technical Analysis SentimentNegative

Last Price3.46

Price Trends

50DMA4.71Negative

100DMA4.18Negative

200DMA4.22Negative

Market Momentum

MACD-0.32Positive

RSI24.15Positive

STOCH11.99Positive

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For TSE:DC.A, the sentiment is Negative. The current price of 3.46 is below the 20-day moving average (MA) of 4.02, below the 50-day MA of 4.71, and below the 200-day MA of 4.22, indicating a bearish trend. The MACD of -0.32 indicates Positive momentum. The RSI at 24.15 is Positive, neither overbought nor oversold. The STOCH value of 11.99 is Positive, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for TSE:DC.A.

Dundee Peers Comparison

Overall Rating

UnderperformOutperform

Sector (61)

Financial Indicators

TSE:DC.A against its peers
Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
TSE:TRX	66Neutral	CAD 430.11M	-14.29	-26.91%	―	139.67%	-6769.23%
TSE:DC.A	62Neutral	CAD 311.29M	1.29	43.98%	―	148.84%	462.85%
Sector *	61Neutral	$10.43B	7.12	-0.05%	2.87%	2.86%	-36.73%
TSE:CAD	47Neutral	CAD 446.29M	-104.78	-20.08%	―	―	40.72%
TSE:SAU	41Neutral	CAD 221.14M	-8.02	-12.38%	―	―	-1078.57%
TSE:AUMB	40Underperform	CAD 204.01M	-4.70	-91.31%	―	―	-117.38%

* Basic Materials Sector Average

Performance Comparison

TSE:DC.A and its peers over the selected period
Ticker	Company Name	Price	Change	% Change
TSE:DC.A	Dundee Corp	3.46	0.03	0.87%
TSE:TRX	Trx Gold Corporation	1.31	0.49	59.76%
TSE:CAD	Colonial Coal International	2.41	0.93	62.84%
TSE:SAU	St. Augustine Gold	0.14	-0.22	-61.11%
TSE:AUMB	1911 Gold Corp	0.57	-0.35	-38.04%

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.

Date of analysis: Oct 23, 2026

Dundee AI Stock Analysis