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Element 29 Resources
(ECU)
Select Model
Select Model
Rating:50Neutral
Price Target:
C$2.00
▲(18.34% Upside)
Action:Reiterated
Date:10/27/26
The score is held back primarily by weak financial performance for a pre-revenue business (continued losses and negative free cash flow), partially offset by an exceptionally low-debt balance sheet. Technicals are moderately supportive with the price above key moving averages, but momentum is mixed. Valuation remains difficult to support given negative earnings and no dividend yield data.
Positive Factors
Very Low Leverage
Extremely low leverage reduces debt-service demands and near-term solvency pressure, preserving financial flexibility for exploration and project advancement. It also means current cash burn is not being driven by interest obligations, although the company still needs funding to sustain operations.
Negative Factors
No Operating Revenue
The absence of operating revenue means the company has not yet demonstrated commercial production or an internally funded business model. Its financial capacity therefore depends on advancing exploration toward a monetizable project, leaving results and future funding closely tied to development progress.
Read all positive and negative factors
Positive Factors
Negative Factors
Very Low Leverage
Extremely low leverage reduces debt-service demands and near-term solvency pressure, preserving financial flexibility for exploration and project advancement. It also means current cash burn is not being driven by interest obligations, although the company still needs funding to sustain operations.
Read all positive factors
Element 29 Resources (ECU) vs. iShares MSCI Canada ETF (EWC)
Market Cap
C$374.86M
Dividend YieldN/A
Average Volume (3M)206.63K
Price to Earnings (P/E)―
Beta (1Y)0.02
Revenue GrowthN/A
EPS Growth-13.58%
CountryCA
Employees1
SectorGeneral
Sector StrengthN/A
IndustryCopper
Share Statistics
EPS (TTM)-0.03
Shares Outstanding196,259,460
10 Day Avg. Volume407,565
30 Day Avg. Volume206,633
Financial Highlights & Ratios
PEG Ratio0.90
Price to Book (P/B)7.09
Price to Sales (P/S)0.00
P/FCF Ratio-117.88
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
Element 29 Resources Business Overview & Revenue Model
Company Description
Element 29 Resources Inc. is an exploration and development company focused on mineral properties throughout Peru. The company's primary objective involves discovering and assessing deposits of copper, molybdenum, gold, silver, lead, zinc, and oth...
How the Company Makes Money
Element 29 Resources is a pre-revenue mineral exploration and development company; it generally does not generate operating revenue from the sale of copper or other metals because it is not a producing miner. As a result, it typically funds operat...
Element 29 Resources Financial Statement Overview
Summary
Income Statement
12
Very Negative
Balance Sheet
72
Positive
Cash Flow
24
Negative
| Breakdown | TTM | Mar 2026 | Dec 2024 | Mar 2024 | Mar 2023 | Mar 2022 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Gross Profit | -39.46K | -54.70K | -58.94K | -39.67K | -17.76K | -5.14K |
| EBITDA | -4.78M | -2.64M | -7.08M | -1.34M | -3.09M | -2.90M |
| Net Income | -4.68M | -2.57M | -7.15M | -1.92M | -5.24M | -2.91M |
Balance Sheet | ||||||
| Total Assets | 58.17M | 24.37M | 13.30M | 15.93M | 14.54M | 17.80M |
| Cash, Cash Equivalents and Short-Term Investments | 36.39M | 7.57M | 1.19M | 1.23M | 1.10M | 7.83M |
| Total Debt | 60.60K | 77.01K | 13.61K | 43.76K | 40.00K | 40.00K |
| Total Liabilities | 1.25M | 1.50M | 459.39K | 177.01K | 460.74K | 791.34K |
| Stockholders Equity | 56.92M | 22.87M | 12.84M | 15.75M | 14.08M | 17.01M |
Cash Flow | ||||||
| Free Cash Flow | -3.35M | -1.38M | -1.31M | -3.26M | -7.47M | -5.20M |
| Operating Cash Flow | -1.68M | -1.35M | -1.31M | -1.86M | -2.23M | -2.01M |
| Investing Cash Flow | -7.44M | -3.68M | -2.31M | -1.38M | -5.25M | -3.22M |
| Financing Cash Flow | 45.21M | 11.41M | 3.58M | 3.39M | 720.00K | 6.84M |
Element 29 Resources Technical Analysis
Positive
1.69
Price Trends
1.77
Positive
1.67
Positive
1.46
Positive
Market Momentum
0.02
Negative
62.52
Neutral
92.20
Negative
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For TSE:ECU, the sentiment is Positive. The current price of 1.69 is below the 20-day moving average (MA) of 1.78, below the 50-day MA of 1.77, and above the 200-day MA of 1.46, indicating a bullish trend. The MACD of 0.02 indicates Negative momentum. The RSI at 62.52 is Neutral, neither overbought nor oversold. The STOCH value of 92.20 is Negative, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for TSE:ECU.
Element 29 Resources Peers Comparison
UnderperformOutperform
Sector (55)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
55 Neutral | $6.65B | 3.83 | -15.92% | 6.20% | 10.91% | 7.18% | |
51 Neutral | C$365.09M | -45.63 | -9.42% | ― | ― | -324.25% | |
50 Neutral | C$374.86M | -68.71 | -14.87% | ― | ― | -13.58% | |
48 Neutral | C$207.94M | -5.37 | 37.58% | ― | 12680.54% | -280.19% | |
45 Neutral | C$76.67M | -4.13 | -19.84% | ― | ― | -6.05% | |
44 Neutral | C$114.57M | 110.36 | 1.79% | ― | ― | ― |
* General Sector Average
TSE:ECU
Element 29 Resources
2.02
1.02
102.00%
TSE:HI
Highland Copper
0.15
<0.01
7.14%
TSE:LA
Los Andes Copper
11.98
3.51
41.55%
TSE:GCU
Gunnison Copper
0.40
-0.03
-8.14%
TSE:VCU
Vizsla Copper
0.83
-0.37
-30.78%
Element 29 Resources Corporate Events
Business Operations and StrategyExecutive/Board ChangesRegulatory Filings and Compliance
Element 29 Grants Stock Options and Deferred Share Units to Directors and Consultants
Neutral
Oct 26, 2026
Element 29 Resources has granted 1,150,000 stock options and 190,000 deferred share units to directors and consultants under its option and long-term incentive plans. The options are exercisable at $1.75 per share for five years, while the DSUs ve...
Business Operations and StrategyRegulatory Filings and Compliance
Element 29 Ramps Up Drilling at Elida Copper Project in Peru
Positive
Oct 13, 2026
Element 29 Resources has mobilized a third drill rig to its flagship Elida copper-molybdenum-silver project in west-central Peru, accelerating an expanded drill program under a 40-platform permit. Two rigs are stepping out from Zone 1 to test deep...
Business Operations and StrategyExecutive/Board ChangesShareholder Meetings
Element 29 Adds Veteran Mining Executives to Board and Expands U.S. Marketing Push
Positive
Sep 28, 2026
Element 29 Resources has strengthened its board by electing mining veterans Randy Smallwood and George Brack as independent directors at its recent annual general meeting, where shareholders also approved all resolutions, including a seven-member ...
Business Operations and StrategyExecutive/Board ChangesShareholder Meetings
Element 29 Taps Veteran Mining Executives for Board Ahead of AGM
Positive
Sep 2, 2026
Element 29 Resources is strengthening its governance as it prepares for its virtual annual general meeting on September 25, 2026. The company has nominated seasoned mining executives Randy Smallwood and George Brack, both with extensive leadership...
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.