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FPX Nickel
(FPX)
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Rating:44Neutral
Price Target:
C$0.34
▼(-5.56% Downside)
Action:Reiterated
Date:08/27/26
The score is primarily held back by weak financial performance—no revenue, widening losses, and worsening free cash flow burn—despite the benefit of very low leverage and a sizable equity base. Technicals also weigh on the outlook with the stock trading below major moving averages and negative MACD, while valuation provides little support due to negative earnings and no dividend yield.
Positive Factors
Very Low Leverage
Extremely low leverage limits interest and refinancing pressure, preserving financial flexibility while FPX advances its nickel project. This provides a stronger foundation than a highly debt-funded development strategy, although it does not remove future funding needs.
Negative Factors
No Revenue Generation
The absence of revenue confirms FPX remains pre-commercial and dependent on capital markets or other funding sources. Until the Baptiste project reaches production, the company lacks operating cash inflows to finance development or offset corporate expenses.
Read all positive and negative factors
Positive Factors
Negative Factors
Very Low Leverage
Extremely low leverage limits interest and refinancing pressure, preserving financial flexibility while FPX advances its nickel project. This provides a stronger foundation than a highly debt-funded development strategy, although it does not remove future funding needs.
Read all positive factors
FPX Nickel (FPX) vs. iShares MSCI Canada ETF (EWC)
Market Cap
C$107.38M
Dividend YieldN/A
Average Volume (3M)43.62K
Price to Earnings (P/E)―
Beta (1Y)0.62
Revenue GrowthN/A
EPS Growth-95.41%
CountryCA
Employees6
SectorGeneral
Sector StrengthN/A
IndustryOther Precious Metals
Share Statistics
EPS (TTM)-0.02
Shares Outstanding315,832,100
10 Day Avg. Volume48,776
30 Day Avg. Volume43,619
Financial Highlights & Ratios
PEG Ratio-0.38
Price to Book (P/B)2.46
Price to Sales (P/S)0.00
P/FCF Ratio-46.17
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)-0.06
Revenue Forecast (FY)C$1.03B
FPX Nickel Business Overview & Revenue Model
Company Description
FPX Nickel Corp. operates as a junior mining company focused on nickel, engaging in the acquisition, exploration, and advancement of mineral properties. Its primary objective is to explore for awaruite, a nickel-iron alloy. The company's key asset...
FPX Nickel Financial Statement Overview
Summary
Income Statement
18
Very Negative
Balance Sheet
66
Positive
Cash Flow
24
Negative
| Breakdown | TTM | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Mar 2022 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Gross Profit | -259.65K | -263.96K | -250.71K | -139.00K | -88.08K | -50.69K |
| EBITDA | -6.90M | -4.89M | -2.52M | -4.27M | -3.61M | -3.75M |
| Net Income | -6.70M | -5.06M | -2.71M | -4.34M | -3.64M | -3.84M |
Balance Sheet | ||||||
| Total Assets | 70.20M | 72.68M | 77.27M | 59.89M | 42.27M | 30.46M |
| Cash, Cash Equivalents and Short-Term Investments | 11.36M | 16.23M | 34.07M | 28.92M | 18.02M | 14.54M |
| Total Debt | 89.03K | 133.43K | 209.26K | 269.44K | 154.07K | 237.71K |
| Total Liabilities | 3.03M | 4.20M | 4.21M | 2.33M | 718.43K | 690.88K |
| Stockholders Equity | 65.40M | 66.67M | 71.64M | 56.06M | 39.94M | 29.77M |
Cash Flow | ||||||
| Free Cash Flow | -5.14M | -3.55M | -1.88M | -2.17M | -10.54M | -6.43M |
| Operating Cash Flow | -3.61M | -3.55M | -1.88M | -1.97M | -3.22M | -1.66M |
| Investing Cash Flow | -10.87M | -14.11M | -11.23M | -6.39M | -7.34M | -4.77M |
| Financing Cash Flow | -255.66K | -177.29K | 18.26M | 19.27M | 14.04M | 15.13M |
FPX Nickel Technical Analysis
Negative
0.36
Price Trends
0.36
Negative
0.42
Negative
0.46
Negative
Market Momentum
>-0.01
Positive
42.14
Neutral
14.29
Positive
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For TSE:FPX, the sentiment is Negative. The current price of 0.36 is above the 20-day moving average (MA) of 0.36, above the 50-day MA of 0.36, and below the 200-day MA of 0.46, indicating a bearish trend. The MACD of >-0.01 indicates Positive momentum. The RSI at 42.14 is Neutral, 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:FPX.
FPX Nickel 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% | |
55 Neutral | C$426.30M | -11.80 | -163.08% | ― | ― | -64.63% | |
49 Neutral | C$18.03M | -1.80 | -146.90% | ― | 89.53% | -16.40% | |
49 Neutral | C$126.98M | -5.30 | -93.99% | ― | ― | 62.56% | |
46 Neutral | C$179.03M | -15.15 | -9999.00% | ― | 351.39% | -682.81% | |
45 Neutral | C$173.93M | -8.33 | -4.40% | ― | ― | -35.71% | |
44 Neutral | C$107.38M | -16.04 | -10.05% | ― | ― | -95.41% |
* General Sector Average
TSE:FPX
FPX Nickel
0.34
0.09
36.00%
TSE:NIM
Nicola Mining
0.78
-0.04
-4.88%
TSE:WM
Wallbridge Mng Co
0.10
<0.01
5.56%
TSE:ELEC
Electric Royalties
0.13
>-0.01
-3.70%
TSE:RUA
Rua Gold
1.11
0.37
50.00%
TSE:MAXX
Max Power Mining Corp
3.06
2.70
750.00%
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.