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Northern Graphite
(NGC)
Select Model
Select Model
Rating:43Neutral
Price Target:
C$0.10
▲(1.00% Upside)
Action:Reiterated
Date:09/06/26
The score is weighed down primarily by very weak financial performance (sharp revenue decline, persistent large losses, negative free cash flow, and a stressed balance sheet with negative equity and rising debt). Technicals add further pressure with the stock trading below key moving averages and negative MACD. Valuation provides only limited offset because the negative P/E reflects ongoing losses and dividend yield data is unavailable.
Positive Factors
Graphite product exposure
A focused position in natural graphite gives Northern Graphite direct exposure to industrial applications and battery-related supply chains. Its concentrate-oriented model can support customer qualification and product development across these end markets as the company develops its operating platform.
Negative Factors
Sharp revenue contraction
A roughly 44% decline in trailing revenue signals weakening commercial scale and reduces the volume over which fixed operating costs can be absorbed. Continued top-line pressure could delay project development, weaken customer momentum, and make a durable return to profitability more difficult.
Read all positive and negative factors
Positive Factors
Negative Factors
Graphite product exposure
A focused position in natural graphite gives Northern Graphite direct exposure to industrial applications and battery-related supply chains. Its concentrate-oriented model can support customer qualification and product development across these end markets as the company develops its operating platform.
Read all positive factors
Northern Graphite (NGC) vs. iShares MSCI Canada ETF (EWC)
Market Cap
C$17.43M
Dividend YieldN/A
Average Volume (3M)110.40K
Price to Earnings (P/E)―
Beta (1Y)0.92
Revenue Growth-64.07%
EPS Growth7.64%
CountryCA
Employees76
SectorBasic Materials
Sector Strength58
IndustryIndustrial Materials
Share Statistics
EPS (TTM)-0.19
Shares Outstanding166,013,670
10 Day Avg. Volume49,598
30 Day Avg. Volume110,399
Financial Highlights & Ratios
PEG Ratio0.02
Price to Book (P/B)-0.65
Price to Sales (P/S)1.28
P/FCF Ratio-16.02
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)0.1
Revenue Forecast (FY)C$91.50M
Northern Graphite Business Overview & Revenue Model
Company Description
Northern Graphite Corporation is a Canadian enterprise dedicated to the exploration and development of graphite properties. The company's primary asset is the Bissett Creek graphite project, located in southern Ontario, Canada, which consists of t...
How the Company Makes Money
Northern Graphite makes money primarily by selling natural graphite products (including graphite concentrate) to customers. Revenue is generated through commercial sales volumes multiplied by realized selling prices, which are influenced by produc...
Northern Graphite Financial Statement Overview
Summary
Income Statement
18
Very Negative
Balance Sheet
22
Negative
Cash Flow
27
Negative
| Breakdown | TTM | Mar 2026 | Mar 2025 | Mar 2024 | Mar 2023 | Mar 2022 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 8.77M | 19.23M | 22.73M | 17.10M | 11.99M | 0.00 |
| Gross Profit | -2.18M | -3.96M | -310.00K | 1.93M | 2.65M | -31.50K |
| EBITDA | -24.37M | -10.77M | -20.96M | -14.55M | -7.79M | -3.19M |
| Net Income | -27.91M | -21.31M | -38.80M | -23.64M | -14.55M | -3.23M |
Balance Sheet | ||||||
| Total Assets | 76.00M | 73.53M | 77.24M | 91.23M | 102.06M | 19.66M |
| Cash, Cash Equivalents and Short-Term Investments | 239.00K | 2.54M | 373.00K | 3.60M | 5.64M | 4.33M |
| Total Debt | 52.43M | 47.68M | 41.10M | 27.55M | 21.90M | 0.00 |
| Total Liabilities | 123.72M | 111.48M | 98.64M | 75.44M | 65.88M | 1.92M |
| Stockholders Equity | -47.72M | -37.95M | -21.40M | 15.79M | 36.18M | 17.73M |
Cash Flow | ||||||
| Free Cash Flow | -11.28M | -1.54M | -1.70M | -9.65M | -16.96M | -2.08M |
| Operating Cash Flow | -5.47M | 2.27M | -1.18M | -4.73M | -10.51M | -1.40M |
| Investing Cash Flow | -6.07M | -4.87M | -563.00K | -4.48M | -51.57M | -1.30M |
| Financing Cash Flow | 9.71M | 4.77M | -1.01M | 7.34M | 63.38M | 5.06M |
Northern Graphite Technical Analysis
Negative
0.10
Price Trends
0.12
Negative
0.14
Negative
0.18
Negative
Market Momentum
>-0.01
Negative
43.00
Neutral
38.89
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For TSE:NGC, the sentiment is Negative. The current price of 0.1 is below the 20-day moving average (MA) of 0.11, below the 50-day MA of 0.12, and below the 200-day MA of 0.18, indicating a bearish trend. The MACD of >-0.01 indicates Negative momentum. The RSI at 43.00 is Neutral, neither overbought nor oversold. The STOCH value of 38.89 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for TSE:NGC.
Northern Graphite 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% | |
48 Neutral | C$10.01M | -1.80 | -32.56% | ― | ― | -106.55% | |
43 Neutral | C$17.43M | -0.55 | 66.83% | ― | -64.07% | 7.64% | |
43 Neutral | C$14.24M | -22.92 | -4.15% | ― | ― | 86.05% | |
43 Neutral | C$43.15M | -7.99 | 253.60% | ― | ― | -41.04% |
* Basic Materials Sector Average
TSE:NGC
Northern Graphite
0.11
-0.05
-32.26%
TSE:AMY
RecycLiCo Battery Materials
0.06
-0.07
-54.17%
TSE:FMS
Focus Graphite
0.39
0.09
27.87%
TSE:LMR
Lomiko Metals
0.13
0.03
31.58%
TSE:IBAT
International Battery Metals
0.10
-0.15
-59.18%
Northern Graphite Corporate Events
Business Operations and StrategyFinancial DisclosuresPrivate Placements and Financing
Northern Graphite Restructures Debt as Lac des Iles Restart Slips and Battery Strategy Advances
Neutral
Sep 1, 2026
Northern Graphite reported second-quarter 2026 results marked by a debt restructuring deal with Sprott Streaming that will remove about US$22.5 million from its balance sheet and make Sprott its largest shareholder, strengthening the company’...
Business Operations and StrategyLegal ProceedingsRegulatory Filings and Compliance
Northern Graphite Faces Lac des Iles Restart Delay Amid Quebec Mining Lease Dispute
Negative
Aug 19, 2026
Northern Graphite has received environmental authorization from Quebec’s MELCCFP to proceed with a staged pit expansion at its Lac des Iles graphite mine, a project that could extend mine life by up to eight years and support a three-year Ph...
Business Operations and Strategy
Northern Graphite Joins Canada–Japan Battery Materials Evaluation Program
Positive
Aug 17, 2026
Northern Graphite has been selected by Natural Resources Canada to represent Canada in a strategic battery materials evaluation program with Japan’s Lithium-ion Battery Technology and Evaluation Center, receiving funding support of CAD 155,8...
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.