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Four Nines Gold (FNAU) AI Stock Analysis

TSE:FNAU

Four Nines Gold

(CNQX:FNAU)

Select Model
Rating:41Neutral
Price Target:CAD 0.21â–¼(-4.65% Downside)
Action:reiterated
Date:10/23/26

Score is held down primarily by weak financial performance (no revenue, widening losses, and ongoing cash burn that likely requires external financing). Technicals also detract due to a clear downtrend and negative momentum, with only modest support from near-oversold readings. Valuation is constrained by negative earnings (negative P/E) and no dividend yield.

Positive Factors
Low leverageMinimal debt reduces solvency pressure and preserves financial flexibility while the company advances its exploration portfolio. Compared with a highly leveraged explorer, Four Nines Gold has less mandatory interest or principal burden competing with project spending and future financing needs.
Negative Factors
No operating revenueWithout revenue or gross profit, the company has no demonstrated operating engine to fund exploration internally. This leaves financial progress dependent on developing properties successfully and securing capital, making earnings power structurally uncertain over the next several quarters.

Four Nines Gold (FNAU) vs. iShares MSCI Canada ETF (EWC)

-50%0%50%100%150%200%250%TSE:FNAU+7.50%EWC+21.27%Dec '25Jan '26Feb '26Mar '26Apr '26May '26Jun '26Jul '26Aug '26Sep '26Oct '26
Market Cap
CAD 12.51M
Dividend Yield
―
Average Volume (3M)
101.15K
Price to Earnings (P/E)
-12.4
Beta (1Y)
-0.09
Revenue Growth
―
EPS Growth
-57.27%
Country
Canada
Employees
0
Sector
Basic Materials
Sector Strength
61
Industry
Gold

Four Nines Gold Business Overview & Revenue Model

Company Description

Four Nines Gold Inc. operates as a junior resource firm, specializing in the acquisition, exploration, and advancement of gold deposits throughout Canada. The company holds an exclusive option to obtain full ownership of the Bonneville property, whic...

Four Nines Gold Financial Statement Overview

Summary

Pre-revenue exploration profile with no revenue or gross profit and persistent losses that widened in TTM (net loss ~-965k vs. ~-270k in the latest annual period). Cash burn is ongoing (TTM operating cash flow ~-747k; free cash flow ~-769k), implying reliance on external funding. Offset by low leverage and essentially no debt, which reduces solvency risk despite negative returns on equity.

Income Statement

12Very Negative

Balance Sheet

46Neutral

Cash Flow

18Very Negative
Financial statement breakdown
BreakdownTTMApr 2025Apr 2024Apr 2023Apr 2022Apr 2021
Income Statement
Total Revenue000000
Gross Profit000000
EBITDA-497.35K-214.75K-379.00K-231.95K-43.94K-31.10K
Net Income-603.76K-269.71K-395.00K-511.00K-495.00K-469.00K
Balance Sheet
Total Assets4.92M1.34M1.20M840.26K861.05K1.25M
Cash, Cash Equivalents and Short-Term Investments3.56M4,2562522.37K245.54K1.01M
Total Debt105.74K206.28K271.33K000
Total Liabilities350.47K669.92K650.38K218.57K44.60K132.06K
Stockholders Equity4.57M667.40K548.64K621.68K816.45K1.11M
Cash Flow
Free Cash Flow-289.36K-161.83K-145.10K-250.24K-639.56K-239.93K
Operating Cash Flow-201.43K-91.89K-145.10K-160.87K-466.30K-214.93K
Investing Cash Flow-216.84K-204.16K-61.20K-380.08K-356.89K-25.00K
Financing Cash Flow3.96M286.63K196.96K316.45K57.00K876.65K

Four Nines Gold Technical Analysis

Technical Analysis SentimentNegative
Last Price0.21

Price Trends

50DMA0.34Negative
100DMA0.46Negative
200DMA0.44Negative

Market Momentum

MACD-0.03Positive
RSI29.03Positive
STOCH14.29Positive

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For TSE:FNAU, the sentiment is Negative. The current price of 0.21 is below the 20-day moving average (MA) of 0.26, below the 50-day MA of 0.34, and below the 200-day MA of 0.44, indicating a bearish trend. The MACD of -0.03 indicates Positive momentum. The RSI at 29.03 is Positive, neither overbought nor oversold. The STOCH value of 14.29 is Positive, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for TSE:FNAU.

Four Nines Gold Peers Comparison

Overall Rating

UnderperformOutperform
Sector (61)

Financial Indicators

TSE:FNAU against its peers
NameOverall RatingMarket CapP/E RatioROEDividend YieldRevenue GrowthEPS Growth
Sector *61Neutral$10.43B7.12-0.05%2.87%2.86%-36.73%
TSE:ARQTSE:ARQ44NeutralCAD 6.58M-9.98-76.35%―-32.20%-311.67%
TSE:VGTSE:VG44NeutralCAD 5.53M-5.06-76.11%――63.10%
TSE:FNAUTSE:FNAU41NeutralCAD 16.12M-12.36-27.08%――-57.27%
TSE:RFRTSE:RFR39UnderperformCAD 7.06M-7.50123.33%――4.17%

* Basic Materials Sector Average

Performance Comparison

0%200%400%600%TSE:FNAUTSE:ARQTSE:CAND.HTSE:RFRTSE:VGDec '25Jan '26Feb '26Mar '26Apr '26May '26Jun '26Jul '26Aug '26Sep '26Oct '26
TSE:FNAU and its peers over the selected period
Show on chartTickerCompany NamePriceChange% Change
TSE:FNAUFour Nines Gold, Inc. Class A0.210.017.50%
TSE:ARQArgo Gold0.090.0238.46%
TSE:CAND.HCandelaria Mining0.020.01100.00%
TSE:RFRRenforth Resources0.01-0.01-25.00%
TSE:VGVolcanic Gold Mines Inc0.09-0.03-22.50%

Four Nines Gold Corporate Events

Business Operations and Strategy

Four Nines Gold Expands Lower Telegraph Corridor With Broad Hayden Hill Intercepts

Positive
Oct 19, 2026

Four Nines Gold reported assay results from core hole HH26-003 at Hayden Hill, intersecting 80.1 meters averaging 1.08 g/t gold and 10 g/t silver starting just below the existing pit, along with a deeper 8.0-meter interval grading 1.10 g/t gold and 1...

Business Operations and Strategy

Four Nines Gold Hits Key Breccia Zones in Early Hayden Hill Drilling

Positive
Oct 1, 2026

Four Nines Gold has reported encouraging geological results from its maiden core drilling program at the Hayden Hill Gold Project in California, where the first three holes have all intersected hydrothermal brecciation and related epithermal alterati...

Business Operations and Strategy

Four Nines Gold Confirms New Mineralized Zones at Historic Hayden Hill Mine

Positive
Oct 1, 2026

Four Nines Gold reported initial assay results from drill hole HH26-001, the first hole in its maiden exploration program at Hayden Hill in nearly three decades, intersecting 1.05 grams per tonne gold over 104.6 feet and 2.12 grams per tonne gold ove...

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