26 Metals (IRON) AI Stock Analysis

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26 Metals

(CNQX:IRON)

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Rating:50Neutral

Price Target:CAD 0.35▼(-5.41% Downside)

Action:reiterated

Date:10/02/26

The overall score is held down primarily by very weak financial performance, with persistent losses and negative cash flows despite a clean, debt-free balance sheet. Technical momentum is a clear relative strength, as the price trades above key moving averages with supportive but not extreme momentum indicators. Valuation offers limited support given the negative P/E and lack of dividend, reinforcing the view that the stock is a speculative, higher-risk investment reliant on future operational progress rather than current fundamentals.

Positive Factors

Zero DebtA debt-free balance sheet reduces mandatory interest and repayment obligations, preserving financial flexibility while the company remains exploration-stage. This lowers solvency pressure and gives management more capacity to direct available capital toward projects, although it does not resolve the lack of operating revenue.

Negative Factors

No Revenue BaseNo reported revenue means the company has not demonstrated commercial traction or an operating engine capable of funding exploration internally. Its financial outlook therefore remains tied to project advancement and external capital, while the absence of sales makes future profitability and execution outcomes highly uncertain.

26 Metals (IRON) vs. iShares MSCI Canada ETF (EWC)

Market Cap: CAD 12.89M
Dividend Yield: ―
Average Volume (3M): 32.18K
Price to Earnings (P/E): -0.3
Beta (1Y): 1.11
Revenue Growth: ―
EPS Growth: 66.92%
Country: Canada
Employees: 0
Sector: Basic Materials
Sector Strength: 61
Industry: Industrial Materials

26 Metals Business Overview & Revenue Model

Company Description

26 Metals Inc. engages in the exploration company, engages in the exploration and development of mineral resource properties. The company explores for iron ore. its flagship project is Florália Hematite Iron Ore Project covers approximately 613 hecta...

How the Company Makes Money

At the mineral exploration stage, companies typically do not generate recurring operating revenue from selling products; instead, they fund exploration programs (e.g., mapping, sampling, geophysics, drilling, and technical studies) primarily through...

26 Metals Financial Statement Overview

Summary

Financial performance is very weak: the company is pre-revenue with escalating net losses, consistently negative operating and free cash flow, and deeply negative return on equity, partially offset by zero debt and improving equity levels.

Income Statement

5Very Negative

Balance Sheet

35Negative

Cash Flow

10Very Negative

Financial statement breakdown
Breakdown	TTM	Dec 2025	Mar 2025	Mar 2024	Mar 2023	Mar 2022
Income Statement
Total Revenue	0	0	0	0	0	0
Gross Profit	0	0	-192.75K	0	-6,000	-18
EBITDA	-4.21M	-3.76M	-2.40M	-561.05K	-671.21K	-1.40M
Net Income	-3.76M	-3.76M	-2.42M	-595.53K	-761.25K	-1.16M
Balance Sheet
Total Assets	4.82M	4.82M	3.28M	293.09K	383.23K	871.37K
Cash, Cash Equivalents and Short-Term Investments	2.76M	2.76M	88.81K	69.67K	153.47K	600.38K
Total Debt	0	0	0	0	0	0
Total Liabilities	808.21K	808.21K	1.24M	1.60M	1.34M	1.01M
Stockholders Equity	4.01M	4.01M	2.21M	-1.12M	-773.32K	51.29K
Cash Flow
Free Cash Flow	-663.37K	-648.37K	-2.59M	-331.84K	-383.55K	-565.38K
Operating Cash Flow	-648.37K	-648.37K	-2.44M	-331.84K	-383.55K	-565.38K
Investing Cash Flow	-789.59K	-789.59K	-146.50K	0	-63.37K	-1,987
Financing Cash Flow	4.11M	4.11M	2.61M	248.04K	0	771.81K

26 Metals Technical Analysis

Technical Analysis SentimentNegative

Last Price0.37

Price Trends

50DMA0.42Negative

100DMA0.44Negative

200DMA0.48Negative

Market Momentum

MACD-0.01Positive

RSI41.47Neutral

STOCH31.94Neutral

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For TSE:IRON, the sentiment is Negative. The current price of 0.37 is below the 20-day moving average (MA) of 0.39, below the 50-day MA of 0.42, and below the 200-day MA of 0.48, indicating a bearish trend. The MACD of -0.01 indicates Positive momentum. The RSI at 41.47 is Neutral, neither overbought nor oversold. The STOCH value of 31.94 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for TSE:IRON.

26 Metals Peers Comparison

Overall Rating

UnderperformOutperform

Sector (61)

Financial Indicators

TSE:IRON against its peers
Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
Sector *	61Neutral	$10.43B	7.12	-0.05%	2.87%	2.86%	-36.73%
TSE:FCI	55Neutral	CAD 28.58M	-11.38	-63.49%	―	―	48.97%
TSE:IRON	50Neutral	CAD 17.34M	-0.29	-137.79%	―	―	66.92%
TSE:OWLI	41Neutral	CAD 5.53M	-5.32	31.85%	―	―	29.23%
TSE:QBAT	41Neutral	CAD 3.15M	-0.38	-313.02%	―	―	-462.29%
TSE:VRB	40Underperform	CAD 1.32M	-1.32	-9.26%	―	―	-24.26%
TSE:POWR	39Underperform	CAD 652.30K	-2.22	137.53%	―	―	90.36%

* Basic Materials Sector Average

Performance Comparison

TSE:IRON and its peers over the selected period
Ticker	Company Name	Price	Change	% Change
TSE:IRON	26 Metals Inc.	0.37	-0.20	-35.09%
TSE:FCI	Green Battery Minerals Inc	0.62	0.44	244.44%
TSE:VRB	Vanadiumcorp Resource	0.05	-0.17	-77.27%
TSE:OWLI	One World Lithium	0.03	0.00	0.00%
TSE:QBAT	Quantum Battery Metals Corp.	0.33	-0.14	-29.03%
TSE:POWR	Clear Sky Lithium Corp	0.01	-0.02	-66.67%

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 02, 2026

26 Metals AI Stock Analysis