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Excellon Resources (EXN) AI Stock Analysis

TSE:EXN

Excellon Resources

(TSXV:EXN)

Select Model
Rating:39Underperform
Price Target:CAD 0.23â–¼(-14.34% Downside)
Action:reiterated
Date:10/27/26

The score is driven primarily by severely weak financial performance, including no current revenue and substantial cash burn. Bearish technical conditions and a negative P/E ratio provide little offset, although the reduced debt burden and stronger equity position offer limited balance-sheet support.

Positive Factors
DeleveragingThe substantial reduction in debt has lowered financial leverage and may reduce refinancing and interest pressure relative to prior years. A debt-to-equity ratio of about 0.08 gives Excellon greater balance-sheet flexibility as it evaluates exploration, development, and potential asset transactions.
Negative Factors
No Current RevenueThe absence of reported trailing revenue indicates that Excellon currently lacks a recurring operating income stream from production. Until a project reaches production or is monetized, corporate costs and exploration spending must be supported by financing or asset transactions rather than internally generated sales.

Excellon Resources (EXN) vs. iShares MSCI Canada ETF (EWC)

0%50%100%150%200%TSE:EXN+6.25%EWC+24.02%Dec '25Jan '26Feb '26Mar '26Apr '26May '26Jun '26Jul '26Aug '26Sep '26Oct '26Nov '26
Market Cap
CAD 106.89M
Dividend Yield
―
Average Volume (3M)
839.80K
Price to Earnings (P/E)
-10.5
Beta (1Y)
2.66
Revenue Growth
―
EPS Growth
67.17%
Country
Canada
Employees
3
Sector
General
Sector Strength
55
Industry
Silver

Excellon Resources Business Overview & Revenue Model

Company Description

Established in 1987 and headquartered in Toronto, Canada, Excellon Resources Inc. is dedicated to identifying, acquiring, and developing mineral assets across the United States, Germany, and Mexico. The company primarily seeks out deposits of silver,...

How the Company Makes Money

Excellon Resources makes money (when it is generating operating revenue) primarily through the sale of mined concentrates/metal produced from its mineral properties, typically receiving revenue based on delivered volumes, payable metal content (e.g.,...

Excellon Resources Financial Statement Overview

Summary

Financial performance is severely stressed: revenue is zero, operating losses continue, and free cash flow is approximately -$17.9 million TTM. Lower debt and nearly $29 million of equity provide support, but do not offset the absence of revenue and ongoing cash burn.

Income Statement

18Very Negative

Balance Sheet

46Neutral

Cash Flow

21Negative
Financial statement breakdown
BreakdownTTMDec 2025Dec 2024Mar 2024Mar 2023Mar 2022
Income Statement
Total Revenue000025.82M37.95M
Gross Profit-220.01K-165.85K-102.75K-540.00K-635.00K11.75M
EBITDA-2.20M-3.32M-2.79M-5.47M-6.55M-1.81M
Net Income-4.13M-4.44M-5.22M6.53M-18.84M-57.77M
Balance Sheet
Total Assets38.97M41.61M18.39M16.64M26.66M41.56M
Cash, Cash Equivalents and Short-Term Investments7.43M7.16M1.38M744.00K1.47M4.53M
Total Debt2.35M4.68M4.50M11.99M11.50M9.68M
Total Liabilities11.16M16.42M8.94M26.47M48.56M46.05M
Stockholders Equity28.88M26.73M10.98M-9.83M-21.89M-4.49M
Cash Flow
Free Cash Flow-17.88M-7.24M-2.08M-1.59M-1.77M-5.25M
Operating Cash Flow-5.01M-2.05M-747.00K-1.59M-221.00K2.08M
Investing Cash Flow-12.77M-7.13M-1.30M1.00M-738.00K-6.26M
Financing Cash Flow26.17M15.01M3.53M-6,000-248.00K-447.00K

Excellon Resources Technical Analysis

Technical Analysis SentimentNegative
Last Price0.27

Price Trends

50DMA0.36Negative
100DMA0.35Negative
200DMA0.42Negative

Market Momentum

MACD-0.03Negative
RSI32.34Neutral
STOCH19.44Positive

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For TSE:EXN, the sentiment is Negative. The current price of 0.27 is below the 20-day moving average (MA) of 0.27, below the 50-day MA of 0.36, and below the 200-day MA of 0.42, indicating a bearish trend. The MACD of -0.03 indicates Negative momentum. The RSI at 32.34 is Neutral, neither overbought nor oversold. The STOCH value of 19.44 is Positive, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for TSE:EXN.

Excellon Resources Risk Analysis

Excellon Resources disclosed 41 risk factors in its most recent earnings report. Excellon Resources reported the most risks in the "Legal & Regulatory" category.

Higher RiskSector Avg.Lower RiskFinance & CorporateTech & InnovationLegal & RegulatoryProductionAbility to SellMacro & Political
Legal & Regulatory - Litigation, compliance, new legislation, and taxation risks

Latest Risks Added

0 New Risks

Excellon Resources Peers Comparison

Overall Rating

UnderperformOutperform
Sector (55)

Financial Indicators

TSE:EXN against its peers
NameOverall RatingMarket CapP/E RatioROEDividend YieldRevenue GrowthEPS Growth
TSE:IPTTSE:IPT67NeutralCAD 76.90M13.808.50%―106.11%―
Sector *55Neutral$6.65B3.83-15.92%6.20%10.91%7.18%
TSE:KUYATSE:KUYA49NeutralCAD 58.72M-11.49-11.75%―249.52%39.85%
TSE:KTNTSE:KTN44NeutralCAD 80.61M-8.23-12.39%――-44.58%
TSE:BIGTSE:BIG42NeutralCAD 325.95M-12.19-116.31%――-14.56%
TSE:SVETSE:SVE40UnderperformCAD 109.44M-41.33-3.63%――24.24%
TSE:EXNTSE:EXN39UnderperformCAD 107.11M-10.54-21.83%――67.17%

* General Sector Average

Performance Comparison

0%50%100%150%TSE:EXNTSE:KTNTSE:SVETSE:IPTTSE:KUYATSE:BIGDec '25Jan '26Feb '26Mar '26Apr '26May '26Jun '26Jul '26Aug '26Sep '26Oct '26Nov '26
TSE:EXN and its peers over the selected period
Show on chartTickerCompany NamePriceChange% Change
TSE:EXNExcellon Resources0.260.014.08%
TSE:KTNKootenay Silver0.79-0.53-40.15%
TSE:SVESilver One0.310.000.00%
TSE:IPTIMPACT Silver0.23-0.01-4.26%
TSE:KUYAKuya Silver Corporation0.460.0716.67%
TSE:BIGBald Eagle Gold Corp.0.930.3663.16%

Excellon Resources Corporate Events

Business Operations and Strategy

Excellon Drilling at Mallay Mine Points to Deeper Access and Potential Resource Growth

Positive
Sep 21, 2026

Excellon Resources reported encouraging results from its ongoing underground drill program at the Mallay silver-lead-zinc mine in Peru, confirming grade and width continuity in the Isguiz vein below the 4090 level. The program has also intersected de...

Business Operations and StrategyExecutive/Board ChangesRegulatory Filings and Compliance

Excellon Maps High-Grade Tres Cerros Targets Adjacent to Mallay Mine

Positive
Aug 31, 2026

Excellon Resources has outlined seven exploration targets across roughly 40% of its 11,000-hectare Tres Cerros property in Peru, adjacent to the operating Mallay Mine. The concessions are prospective for epithermal gold-silver and porphyry copper min...

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 27, 2026