Iconic Minerals (ICM) AI Stock Analysis

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Iconic Minerals

(TSXV:ICM)

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Rating:47Neutral

Price Target:CAD 0.06▲(16.36% Upside)

Action:reiterated

Date:08/26/26

The score is held down primarily by weak financial performance (pre-revenue, ongoing operating losses, and significant negative TTM cash flow), partly offset by a low-debt balance sheet and improved equity base. Technicals contribute a modest lift due to near-term strength above shorter moving averages and positive MACD, while valuation remains challenged because the company is unprofitable and has no stated dividend yield.

Positive Factors

Low DebtThe absence of reported debt in the latest periods reduces mandatory financing costs and near-term solvency pressure. This gives Iconic Minerals greater flexibility to direct available capital toward exploration and operations, although it does not offset the company’s current losses or cash burn.

Negative Factors

Pre-Revenue ProfileThe absence of reported revenue means Iconic Minerals has not yet established a demonstrated commercial earnings base. Without recurring sales, future funding remains dependent on advancing the business from development toward monetization, making operating progress and financial outcomes less predictable.

Iconic Minerals (ICM) vs. iShares MSCI Canada ETF (EWC)

Market Cap: CAD 10.22M
Dividend Yield: ―
Average Volume (3M): 151.64K
Price to Earnings (P/E): -4.5
Beta (1Y): 1.64
Revenue Growth: ―
EPS Growth: -480.95%
Country: Canada
Employees: 10
Sector: General
Sector Strength: 55
Industry: Gold

Iconic Minerals Business Overview & Revenue Model

Company Description

Iconic Minerals Ltd. is a mineral exploration company dedicated to the discovery and development of gold and lithium deposits across Nevada and Canada. In Nevada, the company maintains a diverse portfolio of holdings. This includes outright ownership...

Iconic Minerals Financial Statement Overview

Summary

Overall fundamentals are weak: the company is pre-revenue with recurring operating losses and materially negative TTM operating cash flow/free cash flow (elevated cash burn and reliance on external funding). The key offset is a currently low-debt balance sheet (no reported debt in 2024–TTM) and improved equity in TTM, which supports near-term solvency but does not resolve negative returns and earnings quality concerns.

Income Statement

18Very Negative

Balance Sheet

46Neutral

Cash Flow

22Negative

Financial statement breakdown
Breakdown	TTM	Aug 2025	Nov 2024	Nov 2023	Nov 2022	Nov 2021
Income Statement
Total Revenue	0	0	0	0	0	0
Gross Profit	0	0	0	0	0	0
EBITDA	-2.38M	-291.13K	-712.80K	-1.94M	-768.89K	-1.87M
Net Income	-2.02M	-291.12K	-2.28M	17.58M	-1.05M	-1.21M
Balance Sheet
Total Assets	3.83M	1.79M	2.13M	4.26M	9.01M	7.04M
Cash, Cash Equivalents and Short-Term Investments	2.02M	316.87K	403.66K	2.41M	137.39K	1.53M
Total Debt	0	0	0	0	1.65M	1.83M
Total Liabilities	319.83K	1.42M	1.52M	1.39M	7.45M	4.58M
Stockholders Equity	3.51M	362.23K	610.66K	2.87M	1.57M	2.47M
Cash Flow
Free Cash Flow	-2.05M	-566.18K	-222.80K	-3.32M	-1.04M	-1.26M
Operating Cash Flow	-2.05M	-566.18K	-222.80K	-3.32M	1.70M	29.60K
Investing Cash Flow	-102.90K	324.67K	-60.42K	-160.15K	-174.70K	579.73K
Financing Cash Flow	4.06M	387.50K	0	-16.54K	-316.18K	1.64M

Iconic Minerals Technical Analysis

Technical Analysis SentimentNegative

Last Price0.06

Price Trends

50DMA0.07Negative

100DMA0.06Negative

200DMA0.10Negative

Market Momentum

MACD-0.00Positive

RSI42.00Neutral

STOCH50.00Neutral

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For TSE:ICM, the sentiment is Negative. The current price of 0.06 is below the 20-day moving average (MA) of 0.07, below the 50-day MA of 0.07, and below the 200-day MA of 0.10, indicating a bearish trend. The MACD of -0.00 indicates Positive momentum. The RSI at 42.00 is Neutral, neither overbought nor oversold. The STOCH value of 50.00 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for TSE:ICM.

Iconic Minerals Peers Comparison

Overall Rating

UnderperformOutperform

Sector (55)

Financial Indicators

TSE:ICM against its peers
Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
Sector *	55Neutral	$6.65B	3.83	-15.92%	6.20%	10.91%	7.18%
TSE:BARU	48Neutral	CAD 16.45M	-5.13	-89.43%	―	―	25.71%
TSE:ICM	47Neutral	CAD 10.22M	-4.51	-107.29%	―	―	-480.95%
TSE:KALO	39Underperform	CAD 13.54M	-1.09	-161.75%	―	―	-78.95%
TSE:DLTA	38Underperform	CAD 27.19M	-11.07	-133.88%	―	―	58.10%
TSE:OMM	37Underperform	CAD 12.05M	-6.08	-36.04%	―	―	42.64%

* General Sector Average

Performance Comparison

TSE:ICM and its peers over the selected period
Ticker	Company Name	Price	Change	% Change
TSE:ICM	Iconic Minerals	0.06	-0.01	-15.38%
TSE:BARU	Baru Gold Corp.	0.04	-0.03	-42.86%
TSE:DLTA	Delta Resources Ltd.	0.17	-0.01	-2.94%
TSE:OMM	Omineca Mining and Metals	0.04	-0.01	-25.00%
TSE:OCI	Orefinders Resources	0.14	0.05	58.82%
TSE:KALO	Kalo Gold Holdings Corp.	0.12	-0.27	-69.74%

Iconic Minerals Corporate Events

Business Operations and Strategy

Iconic Minerals Reports Strong Near-Surface Gold-Silver Intercepts at Nevada’s New Pass Project

Positive

Sep 17, 2026

Iconic Minerals has reported a second batch of encouraging assay results from its 2026 drill program at the New Pass gold property in Nevada, with five of six new holes delivering continuous near-surface gold and silver intervals up to 55 meters that...

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: Aug 25, 2026

Iconic Minerals AI Stock Analysis