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Nine Mile Metals Ltd
(NINE)
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Rating:48Neutral
Price Target:
C$0.12
▼(-30.00% Downside)
Action:Reiterated
Date:10/22/26
The score is primarily held back by weak financial performance (no revenue, ongoing losses and cash burn despite a debt-free balance sheet). Technicals are a relative positive with price trading above major moving averages and moderately positive momentum, but valuation remains challenged due to unprofitability and no dividend support.
Positive Factors
Debt-Free Balance Sheet
Zero reported debt keeps financial leverage and refinancing exposure low, giving Nine Mile Metals greater flexibility while it advances exploration assets. This reduces fixed financing obligations and preserves more capacity to direct available funds toward property work and evaluation.
Negative Factors
No Operating Revenue
The absence of operating revenue means the company has not yet demonstrated a commercial business that can fund itself through customer sales. Until an exploration asset is monetized or reaches production, financial progress remains dependent on exploration outcomes and external capital.
Read all positive and negative factors
Positive Factors
Negative Factors
Debt-Free Balance Sheet
Zero reported debt keeps financial leverage and refinancing exposure low, giving Nine Mile Metals greater flexibility while it advances exploration assets. This reduces fixed financing obligations and preserves more capacity to direct available funds toward property work and evaluation.
Read all positive factors
Nine Mile Metals Ltd (NINE) vs. iShares MSCI Canada ETF (EWC)
Market Cap
C$23.39M
Dividend YieldN/A
Average Volume (3M)789.86K
Price to Earnings (P/E)―
Beta (1Y)3.94
Revenue GrowthN/A
EPS Growth-3.29%
CountryCA
Employees1
SectorBasic Materials
Sector Strength58
IndustryOther Precious Metals
Share Statistics
EPS (TTM)-0.02
Shares Outstanding194,956,270
10 Day Avg. Volume839,832
30 Day Avg. Volume789,863
Financial Highlights & Ratios
PEG Ratio0.02
Price to Book (P/B)0.22
Price to Sales (P/S)0.00
P/FCF Ratio-1.32
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price Target
C$0.37Price Target Upside117.65% Upside
Rating ConsensusModerate Buy
Number of Analyst Covering1
EPS Forecast (FY)N/A
Revenue Forecast (FY)N/A
Nine Mile Metals Ltd Business Overview & Revenue Model
Company Description
Nine Mile Metals Ltd. primarily focuses on the procurement, development, and geological assessment of mineral properties. Its portfolio includes interests in the Black Point Property, situated in Eureka County, Nevada. Additionally, the company po...
How the Company Makes Money
Nine Mile Metals Ltd does not typically generate recurring operating revenue from selling products or providing services because it is primarily an exploration-stage company. Instead, it generally funds operations through capital markets financing...
Nine Mile Metals Ltd Financial Statement Overview
Summary
Income Statement
12
Very Negative
Balance Sheet
58
Neutral
Cash Flow
22
Negative
| Breakdown | TTM | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Gross Profit | 0.00 | -6.53K | -3.92K | 0.00 | 0.00 | 0.00 |
| EBITDA | -2.69M | -856.41K | -2.12M | -410.63K | 3.60M | -1.14M |
| Net Income | -2.67M | -883.45K | -2.17M | -2.70M | -1.72M | -6.27M |
Balance Sheet | ||||||
| Total Assets | 10.27M | 4.83M | 5.10M | 4.95M | 5.25M | 982.40K |
| Cash, Cash Equivalents and Short-Term Investments | 4.92M | 44.14K | 387.47K | 446.00K | 1.07M | 947.36K |
| Total Debt | 0.00 | 0.00 | 220.85K | 0.00 | 0.00 | 50.37K |
| Total Liabilities | 280.85K | 503.16K | 622.11K | 170.48K | 22.00K | 75.69K |
| Stockholders Equity | 9.99M | 4.32M | 4.48M | 4.78M | 5.23M | 906.71K |
Cash Flow | ||||||
| Free Cash Flow | -1.87M | -730.69K | -1.89M | -2.37M | -1.42M | -1.08M |
| Operating Cash Flow | -1.87M | -730.69K | -1.84M | -2.29M | -1.33M | -1.07M |
| Investing Cash Flow | -287.65K | -9.00K | -50.00K | -80.00K | -85.00K | 11.20K |
| Financing Cash Flow | 7.07M | 396.36K | 1.83M | 1.74M | 1.54M | 1.75M |
Nine Mile Metals Ltd Technical Analysis
Neutral
0.17
Price Trends
0.12
Positive
0.10
Positive
0.10
Positive
Market Momentum
<0.01
Positive
48.58
Neutral
40.30
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For TSE:NINE, the sentiment is Neutral. The current price of 0.17 is above the 20-day moving average (MA) of 0.14, above the 50-day MA of 0.12, and above the 200-day MA of 0.10, indicating a neutral trend. The MACD of <0.01 indicates Positive momentum. The RSI at 48.58 is Neutral, neither overbought nor oversold. The STOCH value of 40.30 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Neutral sentiment for TSE:NINE.
Nine Mile Metals Ltd 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% | |
50 Neutral | C$27.78M | -22.11 | -83.66% | ― | ― | -30.85% | |
48 Neutral | C$23.39M | -7.64 | -36.39% | ― | ― | -3.29% | |
42 Neutral | C$9.87M | -5.36 | -13.53% | ― | ― | -97.46% | |
41 Neutral | C$9.37M | -3.45 | -518.12% | ― | ― | -155.88% | |
41 Neutral | C$16.83M | -6.65 | -68.49% | ― | ― | -1878.57% |
* Basic Materials Sector Average
TSE:NINE
Nine Mile Metals Ltd
0.12
0.10
500.00%
TSE:LOT
TomaGold
0.03
>-0.01
-14.29%
TSE:RDU
Radius Gold
0.24
0.10
71.43%
TSE:SXTY
Sixty North Gold Mining
0.13
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TSE:NBRK
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-28.85%
Nine Mile Metals Ltd Corporate Events
Business Operations and Strategy
Nine Mile Metals Hits High-Grade VMS and Expands Nine Mile Brook Claims
Positive
Oct 15, 2026
Nine Mile Metals reported new assay results from drill hole WD-26-15 at the Wedge Mine, intersecting two high-grade VMS zones, including 4.88% copper equivalent over 7.6 metres and 2.89% copper equivalent over 1.2 metres. Management highlighted co...
Business Operations and Strategy
Nine Mile Metals Deploys Second Drill Rig to Advance Wedge VMS Exploration
Positive
Oct 1, 2026
Nine Mile Metals has mobilized a second drill rig to the Tribag-West Wedge target area, about three kilometres northwest of the historic Wedge Mine, to begin testing high-priority Time Domain Electromagnetic VMS targets. This rig allows the compan...
Business Operations and Strategy
Nine Mile Metals Hits High-Grade VMS Zone at Wedge Mine
Positive
Sep 24, 2026
Nine Mile Metals reported strong assay results from drill hole WD-26-14 at the Wedge Mine, intersecting 5.09% copper-equivalent over 14.15 meters, including higher-grade intervals of 6.35% copper-equivalent over 9 meters and 7.45% over 6 meters, w...
Business Operations and Strategy
Nine Mile Metals Intersects Two High-Grade VMS Zones at Wedge Project
Positive
Sep 22, 2026
Nine Mile Metals reported certified assay results from drill hole WD-26-11 at its Wedge Mine project in New Brunswick, confirming two distinct high-grade VMS zones over a combined 27.6 meters. The upper lens is copper-dominant while the lower lens...
Business Operations and Strategy
Nine Mile Metals Hits High-Grade VMS Zones at Wedge Mine Drill Hole WD-26-07
Positive
Aug 25, 2026
Nine Mile Metals reported new assay results from drill hole WD-26-07 at its Wedge Mine project in New Brunswick’s Bathurst Mining Camp, intersecting two distinct VMS zones with strong polymetallic grades. The hole, drilled in the southwest p...
Business Operations and Strategy
Nine Mile Metals Hits High-Grade Polymetallic VMS Lens at Wedge Mine
Positive
Aug 12, 2026
Nine Mile Metals reported certified assay results from drill hole WD-26-09 at the Wedge Mine in New Brunswick, confirming a thick, high-grade VMS lens containing copper, lead, zinc, silver and gold. The hole returned 3.49% copper equivalent over 2...
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.