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Metal Energy Corp
(MERG)
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Rating:40Underperform
Price Target:
C$0.43
▼(-58.04% Downside)
Action:Downgraded
Date:10/07/26
The score is primarily held down by weak financial performance (pre-revenue, recurring losses, and persistent cash burn) and bearish technicals (trading well below key moving averages with negative MACD). Valuation metrics also provide little support because the company is loss-making (negative P/E) and has no dividend yield data.
Positive Factors
Low Leverage
Near-zero debt reduces interest burden and solvency pressure, giving the company greater flexibility while it advances exploration. Although funding needs remain, limited leverage lowers the risk that creditors constrain operations or that debt service absorbs scarce capital.
Negative Factors
No Revenue Base
Zero revenue means the company has no operating sales base to fund exploration, corporate costs, or future development. Its financial outlook therefore depends on discovering and advancing viable properties, creating a long path from exploration spending to potential commercial cash generation.
Read all positive and negative factors
Positive Factors
Negative Factors
Low Leverage
Near-zero debt reduces interest burden and solvency pressure, giving the company greater flexibility while it advances exploration. Although funding needs remain, limited leverage lowers the risk that creditors constrain operations or that debt service absorbs scarce capital.
Read all positive factors
Metal Energy Corp (MERG) vs. iShares MSCI Canada ETF (EWC)
Market Cap
C$21.17M
Dividend YieldN/A
Average Volume (3M)116.87K
Price to Earnings (P/E)―
Beta (1Y)2.04
Revenue GrowthN/A
EPS Growth69.40%
CountryCA
EmployeesN/A
SectorGeneral
Sector StrengthN/A
IndustryIndustrial Materials
Share Statistics
EPS (TTM)-0.06
Shares Outstanding48,672,050
10 Day Avg. Volume117,591
30 Day Avg. Volume116,867
Financial Highlights & Ratios
PEG Ratio0.12
Price to Book (P/B)7.62
Price to Sales (P/S)0.00
P/FCF Ratio-20.83
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)N/A
Revenue Forecast (FY)N/A
Metal Energy Corp Business Overview & Revenue Model
Company Description
Based in Toronto, Canada, Metal Energy Corp. is a company dedicated to the exploration, acquisition, and eventual extraction of mineral properties across Canada. Their primary focus lies in identifying deposits rich in nickel, copper, and platinum...
Metal Energy Corp Financial Statement Overview
Summary
Income Statement
9
Very Negative
Balance Sheet
38
Negative
Cash Flow
18
Very Negative
| Breakdown | TTM | Mar 2026 | Mar 2025 | Mar 2024 | Mar 2023 | Mar 2022 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Gross Profit | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| EBITDA | -2.96M | -2.07M | -90.35K | -136.20K | -4.77M | -3.02M |
| Net Income | -2.97M | -2.10M | -6.16M | -1.67M | -4.77M | -3.02M |
Balance Sheet | ||||||
| Total Assets | 9.58M | 9.80M | 1.38M | 1.84M | 3.16M | 7.07M |
| Cash, Cash Equivalents and Short-Term Investments | 8.80M | 9.66M | 1.30M | 1.74M | 2.78M | 7.01M |
| Total Debt | 0.00 | 0.00 | 496.00 | 0.00 | 26.01K | 0.00 |
| Total Liabilities | 7.69M | 7.36M | 4.52M | 84.17K | 754.18K | 723.49K |
| Stockholders Equity | 1.88M | 2.44M | -3.15M | 1.76M | 2.41M | 6.34M |
Cash Flow | ||||||
| Free Cash Flow | -1.88M | -891.34K | -1.40M | -1.61M | -4.24M | -510.74K |
| Operating Cash Flow | -1.88M | -891.34K | -1.40M | -1.61M | -4.24M | -510.74K |
| Investing Cash Flow | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 177.39K |
| Financing Cash Flow | 10.02M | 9.26M | 964.65K | 568.25K | 26.01K | 7.35M |
Metal Energy Corp Technical Analysis
Negative
1.02
Price Trends
0.79
Negative
0.82
Negative
0.85
Negative
Market Momentum
-0.11
Positive
29.80
Positive
9.42
Positive
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For TSE:MERG, the sentiment is Negative. The current price of 1.02 is above the 20-day moving average (MA) of 0.64, above the 50-day MA of 0.79, and above the 200-day MA of 0.85, indicating a bearish trend. The MACD of -0.11 indicates Positive momentum. The RSI at 29.80 is Positive, neither overbought nor oversold. The STOCH value of 9.42 is Positive, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for TSE:MERG.
Metal Energy Corp 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% | |
51 Neutral | C$37.09M | -8.07 | -71.25% | ― | ― | 74.25% | |
47 Neutral | C$13.92M | -0.52 | -66.28% | ― | ― | -10.86% | |
47 Neutral | C$33.35M | -3.97 | -55.00% | ― | ― | ― | |
44 Neutral | C$30.48M | -23.44 | 45.30% | ― | ― | 45.30% | |
40 Underperform | C$21.17M | -6.89 | -368.32% | ― | ― | 69.40% |
* General Sector Average
TSE:MERG
Metal Energy Corp
0.44
0.22
97.73%
TSE:LIT
Argentina Lithium & Energy
0.08
-0.04
-33.33%
TSE:STS
South Star Battery Metals
0.24
>-0.01
-2.08%
TSE:NICO
Class 1 Nickel & Technologies
0.15
0.08
130.77%
TSE:LBNK
LithiumBank Resources Corp.
0.58
0.13
28.89%
Metal Energy Corp Corporate Events
Business Operations and Strategy
Metal Energy Doubles Drilling Capacity at NIV Copper-Gold Project
Positive
Sep 3, 2026
Metal Energy Corp. has mobilized a second diamond drill rig at its NIV copper-gold project in British Columbia’s Toodoggone District, doubling drilling capacity for the remaining weeks of the 2026 season. The company has already completed si...
Business Operations and Strategy
Metal Energy Confirms Fatal Roadway Impact After Emergency Aircraft Landing
Negative
Aug 24, 2026
Metal Energy Corp. reported that two members of its exploration team were aboard a charter aircraft that made an emergency landing near Prince George, British Columbia, on August 20, 2026. While all passengers and crew, including Metal Energy empl...
Business Operations and StrategyPrivate Placements and Financing
Metal Energy Secures Additional Strategic Funding From Teck and Centerra
Positive
Aug 21, 2026
Metal Energy Corp. has closed an additional C$490,000 equity investment from strategic shareholders Teck Resources and Centerra Gold, who exercised top-up rights to maintain their 9.9% stakes. The financing, comprising 550,000 new common shares at...
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.