Nicola Mining Inc. American Depositary Shares (NICM)

FairStock Score: 13/100 — RISKY

Key Financials

AI Analysis

AI-generated, general educational analysis — not personal investment advice.

Nicola Mining is a junior explorer, not an operating business with a durable moat. It holds mineral properties in Canada for gold, silver, lead, zinc, and copper, including New Craigmont, Treasure Mountain, and Dominion Creek. In fiscal Q2 2026, revenue was $1.1 million and net income was negative $3.0 million, a -273.64% margin. That tells me the company is still spending far more than it earns. Trailing free cash flow was negative $10.7 million, an -8.6% yield on the $125.1 million market cap. Low debt, with D/E of 0.06, is a modest positive, but ROCE is -37.71%, so capital is not being productively employed. FairStock's calculations at the 2026-10-13 close of $5.45 show a negative P/E of -12.67 and a very high P/B of 21.80. The market is paying a rich price for thin book value and no current profits. The Piotroski F-Score is 1/9, the Altman Z-Score is -2.36, and the FairStock Score is 13/100. The Lynch category is none because only 0 years of filed results are available and three are needed. Beta is 0.54, and the 52-week range is $5.09 to $10.60. Graham would want demonstrated earnings and a margin of safety; Buffett would want a business with durable economics. Here, the value depends on future exploration success, not present cash flows. Until there is proof of economic resources or positive free cash flow, this remains a speculative mineral story rather than a compelling value investment.

In plain English: Nicola Mining is a small Canadian junior explorer looking for gold, silver, lead, zinc, and copper. The business looks weak right now: it lost money in its latest reported quarter and burns cash, while its sales are tiny compared with its $125.1 million market value. At the 2026-10-13 close of $5.45, the price looks expensive relative to its reported profits and book value, even though it sits near the low end of its 52-week range.

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Data as of 2026-10-13 close · note generated 2026-10-15 · model deepseek-flash

Fundamentals from company filings and market-data providers; prices are end-of-day, not real-time. AI-generated analysis is general and educational — not personal investment advice. Scoring methodology · Score test · Disclaimer