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Surge Exploration Inc
(NILI)
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Rating:51Neutral
Price Target:
C$1.00
▲(19.05% Upside)
Action:Reiterated
Date:09/06/26
The score is primarily constrained by weak financial performance (no revenue, widening losses, and ongoing cash burn). Technicals provide partial offset due to a strong uptrend versus key moving averages and positive MACD, but overbought signals (high RSI/Stoch) temper the technical score. Valuation remains pressured by negative earnings and no dividend support.
Positive Factors
Debt-free balance sheet
The absence of reported debt reduces fixed financial obligations and interest burden, giving the company greater flexibility to direct capital toward exploration. This also limits leverage-related stress while projects are being evaluated and before any potential revenue base is established.
Negative Factors
No revenue base
Persistent absence of revenue means the company has not yet demonstrated commercial production or a self-sustaining operating model. Without sales, future funding remains tied to exploration outcomes and access to capital rather than internally generated business income.
Read all positive and negative factors
Positive Factors
Negative Factors
Debt-free balance sheet
The absence of reported debt reduces fixed financial obligations and interest burden, giving the company greater flexibility to direct capital toward exploration. This also limits leverage-related stress while projects are being evaluated and before any potential revenue base is established.
Read all positive factors
Surge Exploration Inc (NILI) vs. iShares MSCI Canada ETF (EWC)
Market Cap
C$304.54M
Dividend YieldN/A
Average Volume (3M)1.47M
Price to Earnings (P/E)―
Beta (1Y)2.82
Revenue GrowthN/A
EPS Growth-14.48%
CountryCA
EmployeesN/A
SectorGeneral
Sector StrengthN/A
IndustryIndustrial Materials
Share Statistics
EPS (TTM)-0.06
Shares Outstanding327,463,440
10 Day Avg. Volume1,474,971
30 Day Avg. Volume1,472,673
Financial Highlights & Ratios
PEG Ratio0.51
Price to Book (P/B)7.46
Price to Sales (P/S)0.00
P/FCF Ratio-35.39
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)-0.03
Revenue Forecast (FY)N/A
Surge Exploration Inc Business Overview & Revenue Model
Company Description
Surge Battery Metals Inc. is a mineral exploration company dedicated to acquiring, exploring, and developing resource properties across North America. The firm's strategic focus encompasses a diverse array of metals, including gold, copper, lead, ...
Surge Exploration Inc Financial Statement Overview
Summary
Income Statement
8
Very Negative
Balance Sheet
58
Neutral
Cash Flow
18
Very Negative
| Breakdown | TTM | Mar 2026 | Mar 2025 | Mar 2024 | Mar 2023 | Dec 2021 |
|---|---|---|---|---|---|---|
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 | -13.04M | -6.59M | -9.85M | -8.52M | -2.23M | -2.15M |
| Net Income | -12.78M | -6.66M | -9.85M | -8.93M | -2.97M | -2.15M |
Balance Sheet | ||||||
| Total Assets | 86.86M | 17.61M | 12.26M | 16.50M | 4.63M | 6.07M |
| Cash, Cash Equivalents and Short-Term Investments | 74.89M | 5.69M | 1.92M | 6.37M | 1.02M | 3.97M |
| Total Debt | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Total Liabilities | 2.27M | 198.84K | 399.12K | 201.80K | 199.68K | 263.48K |
| Stockholders Equity | 84.59M | 17.41M | 11.86M | 16.30M | 4.43M | 5.80M |
Cash Flow | ||||||
| Free Cash Flow | -3.37M | -3.67M | -2.75M | -3.64M | -3.63M | -2.43M |
| Operating Cash Flow | -3.37M | -3.67M | -2.75M | -3.64M | -2.06M | -2.04M |
| Investing Cash Flow | -25.50M | -3.35M | -619.71K | -6.78M | -1.57M | 414.39K |
| Financing Cash Flow | 75.99M | 8.80M | 952.00K | 12.73M | 684.45K | 5.59M |
Surge Exploration Inc Technical Analysis
Neutral
0.84
Price Trends
0.78
Positive
0.74
Positive
0.71
Positive
Market Momentum
0.05
Positive
52.35
Neutral
27.37
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For TSE:NILI, the sentiment is Neutral. The current price of 0.84 is below the 20-day moving average (MA) of 0.91, above the 50-day MA of 0.78, and above the 200-day MA of 0.71, indicating a neutral trend. The MACD of 0.05 indicates Positive momentum. The RSI at 52.35 is Neutral, neither overbought nor oversold. The STOCH value of 27.37 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Neutral sentiment for TSE:NILI.
Surge Exploration Inc 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% | |
52 Neutral | C$132.77M | -11.58 | -56.38% | ― | ― | -89.18% | |
51 Neutral | C$304.54M | -16.34 | -32.59% | ― | ― | -14.48% | |
50 Neutral | C$248.98M | -40.76 | -7.57% | ― | ― | -106.58% | |
48 Neutral | C$87.74M | -25.27 | -3.40% | ― | ― | 24.32% | |
46 Neutral | C$99.37M | -6.94 | -20.67% | ― | ― | 4.74% | |
46 Neutral | C$213.45M | -67.03 | -4.75% | ― | ― | -1940.00% |
* General Sector Average
TSE:NILI
Surge Exploration Inc
0.93
0.64
220.69%
TSE:CCCM
C3 Metals
0.70
-0.50
-41.67%
TSE:EMO
Emerita Resources
0.34
-1.14
-77.21%
TSE:FPC
Falco Resources
0.61
0.33
121.82%
TSE:SURG
Surge Copper Corp
0.64
0.47
265.71%
TSE:PGE
Group Ten Metals
0.43
0.09
26.87%
Surge Exploration Inc Corporate Events
Business Operations and StrategyPrivate Placements and Financing
Surge Battery Metals Accelerates Nevada Lithium Project Toward Feasibility
Positive
Aug 19, 2026
Surge Battery Metals Inc. and joint-venture partner Evolution Mining have finalized a 2026 drilling program at the Nevada North Lithium Project to generate key technical data for a bankable feasibility study, with drilling set to begin in Septembe...
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.