Want to see TSE:MNO full AI Analyst Report?
Top Page
Meridian Mining SE
(TSX:MNO)
Select Model
Select Model
Rating:51Neutral
Price Target:
C$2.00
▲(13.64% Upside)
Action:Reiterated
Date:09/23/26
The score is held back primarily by weak financial performance—no revenue, sizable ongoing losses, and continued operating/free-cash-flow burn—despite the benefit of a debt-free balance sheet and improved equity base. Technicals are a relative strength with the stock trading above major moving averages and modestly positive momentum. Valuation support is limited because the P/E is negative and there is no dividend yield provided.
Positive Factors
Debt-free balance sheet
The absence of reported debt limits financial risk while Meridian remains in a capital-intensive development phase. A debt-free structure avoids mandatory interest and principal payments, preserves financing flexibility, and gives the company more capacity to fund projects without immediate leverage pressure.
Negative Factors
No reported revenue
Meridian remains pre-revenue, so its projects have not yet translated into operating sales. This leaves the company without internally generated revenue to support ongoing expenses, making future commercialization or production milestones critical to establishing a sustainable business model.
Read all positive and negative factors
Positive Factors
Negative Factors
Debt-free balance sheet
The absence of reported debt limits financial risk while Meridian remains in a capital-intensive development phase. A debt-free structure avoids mandatory interest and principal payments, preserves financing flexibility, and gives the company more capacity to fund projects without immediate leverage pressure.
Read all positive factors
Meridian Mining SE (MNO) vs. iShares MSCI Canada ETF (EWC)
Market Cap
C$886.74M
Dividend YieldN/A
Average Volume (3M)916.28K
Price to Earnings (P/E)―
Beta (1Y)1.86
Revenue GrowthN/A
EPS Growth8.75%
CountryCA
Employees78
SectorBasic Materials
Sector Strength58
IndustryIndustrial Materials
Share Statistics
EPS (TTM)-0.05
Shares Outstanding487,219,100
10 Day Avg. Volume534,828
30 Day Avg. Volume916,276
Financial Highlights & Ratios
PEG Ratio0.88
Price to Book (P/B)9.61
Price to Sales (P/S)0.00
P/FCF Ratio-27.30
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price Target
C$3.23Price Target Upside83.41% Upside
Rating ConsensusStrong Buy
Number of Analyst Covering5
EPS Forecast (FY)-0.05
Revenue Forecast (FY)C$469.85K
Meridian Mining SE Business Overview & Revenue Model
Company Description
Meridian Mining Plc, together with its subsidiaries, engages in the acquisition, exploration, and development of mineral properties in Brazil. It explores for manganese, gold, copper, silver, and tin deposits. The company's flagship property is th...
Meridian Mining SE Financial Statement Overview
Summary
Income Statement
12
Very Negative
Balance Sheet
46
Neutral
Cash Flow
18
Very Negative
| Breakdown | TTM | Dec 2025 | Mar 2025 | Dec 2023 | Mar 2023 | Mar 2022 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Gross Profit | -208.06K | -211.16K | -73.92K | -62.45K | -133.00K | -48.02K |
| EBITDA | -22.25M | -18.30M | -18.00M | -11.75M | 1.15M | -9.38M |
| Net Income | -17.93M | -17.30M | -18.23M | -11.99M | 800.11K | -37.58M |
Balance Sheet | ||||||
| Total Assets | 104.87M | 46.04M | 11.23M | 17.45M | 15.25M | 16.19M |
| Cash, Cash Equivalents and Short-Term Investments | 95.98M | 41.63M | 7.71M | 7.10M | 6.17M | 9.06M |
| Total Debt | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Total Liabilities | 2.75M | 3.19M | 2.04M | 2.43M | 3.63M | 19.90M |
| Stockholders Equity | 102.13M | 42.85M | 9.19M | 15.02M | 11.62M | -3.72M |
Cash Flow | ||||||
| Free Cash Flow | -20.11M | -15.08M | -12.83M | -11.87M | -9.30M | -7.45M |
| Operating Cash Flow | -17.53M | -14.87M | -12.12M | -10.60M | -9.05M | -6.49M |
| Investing Cash Flow | -3.14M | -939.23K | -704.31K | -1.26M | -173.68K | -941.67K |
| Financing Cash Flow | 104.88M | 49.50M | 14.06M | 12.71M | 6.61M | 12.00M |
Meridian Mining SE Technical Analysis
Negative
1.76
Price Trends
2.00
Negative
1.80
Negative
1.78
Negative
Market Momentum
-0.08
Positive
32.34
Neutral
8.84
Positive
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For TSE:MNO, the sentiment is Negative. The current price of 1.76 is below the 20-day moving average (MA) of 2.08, below the 50-day MA of 2.00, and below the 200-day MA of 1.78, indicating a bearish trend. The MACD of -0.08 indicates Positive momentum. The RSI at 32.34 is Neutral, neither overbought nor oversold. The STOCH value of 8.84 is Positive, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for TSE:MNO.
Meridian Mining SE Peers Comparison
UnderperformOutperform
Sector (61)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
61 Neutral | $10.43B | 7.12 | -0.05% | 2.87% | 2.86% | -36.73% | |
53 Neutral | C$645.34M | -53.62 | -7.25% | ― | ― | -41.92% | |
51 Neutral | C$886.74M | -23.44 | -43.89% | ― | ― | 8.75% | |
50 Neutral | C$638.97M | -9.06 | -54.38% | ― | 299.49% | -530.99% | |
45 Neutral | C$542.82M | -83.92 | -2.57% | ― | ― | -60.67% | |
44 Neutral | C$551.81M | -12.10 | -80.30% | ― | ― | -5.97% | |
42 Neutral | C$1.02B | -38.08 | -27.24% | ― | ― | -97.05% |
* Basic Materials Sector Average
TSE:MNO
Meridian Mining SE
1.82
0.53
41.09%
TSE:WRN
Western Copper
2.40
-0.54
-18.37%
TSE:NCX
NorthIsle Copper and Gold
3.05
1.17
62.23%
TSE:FWZ
Fireweed Zinc
2.43
-0.78
-24.30%
TSE:ALDE
Aldebaran Resources Inc
3.48
-0.32
-8.42%
TSE:NICU
Magna Mining
2.04
-0.65
-24.16%
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.