TGB Basic Materials

Trekor Metals Limited

$7.42+0.13%

Price as of close on Nov 3, 2026 · Financials updated Oct 1, 2026

Basics

Sector: Basic Materials
Industry: Copper
Country: Canada
Market cap: 2.7B USD
Enterprise value: 3.3B USD

Overall health

Strength: growing faster than most peersgrowing faster than peers
Drawback: less profitable than most peersless profitable than peers
Drawback: its shares are priced higher than most peers relative to what it earnspriced higher than peers for its earnings
Drawback: higher risk than most peers: its share price swings more than most peers’ (beta 2.07 vs a peer median of 0.69) and more debt relative to equity (0.96× vs a peer median of 0.36×)higher risk: bigger price swings (beta 2.07 vs peers 0.69) and more debt vs equity (0.96× vs peers 0.36×)

Ranks #990 of 1,217 basic materials companies (bottom 19%)

See how it ranks against its peers

Worth knowing

Valuation signals disagree. Cheaper than 74% of peers on free cash flow, but only 0% on earnings.
Relative to its free cash flow, Trekor Metals looks cheaper than 74% of peers; relative to its earnings, cheaper than only 0%. The valuation score blends the two, so look at which measure fits this business best.
Sales growing faster than profits. Since 2022 (an unusually weak year for operating profit): revenue +72%, operating profit −64%.Since 2022: revenue +72%, operating profit −64%.
Since 2022, Trekor Metals's revenue changed +72% while operating profit fell 64%: costs rose faster than sales.
Not profitable yet. Reported a loss in the 12 months to December 2025.
Trekor Metals reported a net loss over the last twelve months, so earnings-based measures can't show it as cheap.
Financials may be out of date. Latest financial period ended 10 months ago.
The latest financial period we have ended 10 months ago, so the scores may not reflect recent results.

StockQuotient Score

32/ 100

Oct 5 31 → Nov 4 32 (+1)

Valuation

Is the price right?

35/100

Weak▲ 1 since Oct 27 close

3/3 inputs reported · High confidence

Since last year: No major changeValuation also moves with the share price every day.

Why it changed since the Oct 27, 2026 close: Score 34 → 35

Share price -7.6%+1

Each step re-scores the company against its peers as they were on Oct 28, 2026; the parts add up to the change. Price effects on EBITDA yield are approximate.

Why

Weaker than most peers on:

▼ Earnings yield
▼ EBITDA yield

Compare with peers

Behind the score

Sector-normalized EBITDA, earnings, and free cash flow yields.

Earnings yield-0.8%

SEC filings (IFRS mapped) · 12 months to Dec 2025 · CAD→USD at the current rateNegative (a loss or cash outflow), so it counts as zero whatever the share price30% base weight · Z-score -1.00Sector median: 0.0364 · MAD: 0.0364

EBITDA yield2.8%

SEC filings (IFRS mapped) · 12 months to Dec 2025 · CAD→USD at the current rateReported value50% base weight · Z-score -1.10Sector median: 0.0854 · MAD: 0.0520

Free cash flow yield7.0%

Yahoo Finance fallback · SEC cash flow or share count unavailable · trailing 12 months · CAD→USD converted · operating cash flow − capital spendingReported value20% base weight · Z-score 1.70Sector median: 0.0261 · MAD: 0.0261

Other data (not scored)

Book yield20.6%

SEC filings (IFRS mapped) · latest balance sheet · CAD→USD at the current rateReported valueInformational · 0% composite weightSector median: 0.5947 · MAD: 0.3137

Growth

Is it growing?

69/100

Moderate

3/3 inputs reported · High confidence

Since last year: ▲ Stronger

12-month revenue up 10.7%

Why

Stronger than most peers on:

▲ 3-yr revenue
▲ Revenue growth

Compare with peers

Behind the score

Revenue and earnings-per-share growth over one year, and revenue growth over three years.

Earnings per share growthUnavailable

The loss per share widened33% base weight · Z-score -1.09Sector median: 0.0941 · MAD: 0.3300

3-year revenue growth19.8%

SEC filings (IFRS mapped) · 3 years to Dec 2025Reported value33% base weight · Z-score 2.73Sector median: -0.0005 · MAD: 0.0725

Revenue growth10.7%

SEC filings (IFRS mapped) · 12 months to Dec 2025Reported value33% base weight · Z-score 0.77Sector median: 0.0335 · MAD: 0.0952

Profitability

Does it earn well?

20/100

Weak

3/3 inputs reported · High confidence

Since last year: ▼ Weaker

Operating margin fell 14.1 points to 3.0%

Why

Weaker than most peers on:

▼ ROA
▼ ROIC
▼ Operating margin

Compare with peers

Behind the score

Return on invested capital, operating margin, and return on assets.

Operating margin3.0%

SEC filings (IFRS mapped) · 12 months to Dec 2025Reported value33% base weight · Z-score -0.75Sector median: 0.0757 · MAD: 0.0617

Return on assets-1.2%

SEC filings (IFRS mapped) · 12 months to Dec 2025Reported value33% base weight · Z-score -1.40Sector median: 0.0249 · MAD: 0.0265

Return on invested capital1.2%

SEC filings (IFRS mapped) · 12 months to Dec 2025Reported value33% base weight · Z-score -0.97Sector median: 0.0675 · MAD: 0.0575

Other data (not scored)

Gross margin22.0%

SEC filings (IFRS mapped) · 12 months to Dec 2025Reported valueInformational · 0% composite weightSector median: 0.2138 · MAD: 0.1202

Return on equity-3.9%

SEC filings (IFRS mapped) · 12 months to Dec 2025Reported valueInformational · 0% composite weightSector median: 0.0537 · MAD: 0.0694

Risk

Debt, liquidity, price swings

Higher

Higher relative risk

3/3 inputs reported · High confidence

Since last year: ▼ Weaker

Operating profit now covers interest only 0.3x

Why

Weaker than most peers on:

▼ Beta
▼ Debt / equity
▼ Current ratio

Compare with peers

Behind the score

Relative to sector peers: 0 = lower relative risk · 1 = moderate · 2 = higher. Based on leverage, beta and liquidity.

Beta2.07

Yahoo Finance · 5-year monthly beta vs the marketOutlier capped at sector 5th/95th percentile33% base weight · Z-score -3.96Sector median: 0.6950 · MAD: 0.2810

Current ratio1.50×

SEC filings (IFRS mapped) · latest balance sheetReported value33% base weight · Z-score -0.39Sector median: 1.7610 · MAD: 0.6770

Debt / equity0.96×

SEC filings (IFRS mapped) · latest balance sheetReported value33% base weight · Z-score -2.05Sector median: 0.3578 · MAD: 0.2929

Valuation, growth and profitability scores: higher is better. Risk: 0 is lower, 2 is higher. Risk is a relative proxy, not a bankruptcy probability. Scores depend on available sector peers.

Questions investors ask about Trekor Metals

Is Trekor Metals getting weaker?: Its latest SEC filing (Mar 31, 2026) got weaker in some ways: operating margin fell 14.1 points to 3.0%; operating profit now covers interest only 0.3x. Its overall score is unchanged at 32/100 since Oct 28, 2026.
How is Trekor Metals valued vs its peers?: Priced higher than most peers relative to what it earns. Valuation scores 35/100 against 1,371 basic materials peers. Free cash flow yield 7.0% vs a peer median of 2.6% (stronger than 74% of peers).Free cash flow yield 7.0% vs peers 2.6% (stronger than 74% of peers). Earnings yield -0.8% vs a peer median of 3.6% (weaker than 100% of peers).Earnings yield -0.8% vs peers 3.6% (weaker than 100% of peers).
Is Trekor Metals growing?: Yes, faster than most of its peers. Growth scores 69/100 against 1,371 basic materials peers. 3-year revenue growth 19.8% vs a peer median of -0.0% (stronger than 89% of peers).3-year revenue growth 19.8% vs peers -0.0% (stronger than 89% of peers).
How profitable is Trekor Metals?: Less profitable than most of its peers. Profitability scores 20/100 against 1,371 basic materials peers. Return on assets -1.2% vs a peer median of 2.5% (weaker than 82% of peers).Return on assets -1.2% vs peers 2.5% (weaker than 82% of peers).
How risky is Trekor Metals?: Higher risk relative to 1,371 basic materials peers, judged on debt, liquidity and share-price swings. Beta 2.07 vs a peer median of 0.69 (weaker than 100% of peers).Beta 2.07 vs peers 0.69 (weaker than 100% of peers). A relative measure, not a bankruptcy probability.

Latest filing: what changed

Year ended Dec 31, 2025 · filed Mar 31, 2026 · compared with the year ended Dec 31, 2024

Got weaker

Operating margin fell 14.1 points to 3.0%
Operating profit now covers interest only 0.3x

	Previous year	Latest year	Change
Revenue (12 months)	608.1M CAD	672.9M CAD	+10.7%
Net income (12 months)	−13.4M CAD	−30.1M CAD	+123.7%
Operating margin	17.1%	3.0%	−14.1 pts
Debt	797.2M CAD	747.0M CAD	−6.3%
Cash	172.7M CAD	188.0M CAD	+8.8%

From the company’s own SEC filings, as filed. Twelve-month figures roll forward one year at a time.

Financials

Fiscal years from SEC annual filings · change vs the prior year · amounts in CAD, as reported

Key ratios	FY 2021	FY 2022	FY 2023	FY 2024	FY 2025	Change
Gross margin	37.8%	13.8%	28.7%	19.3%	22.0%	▲ 2.7 pts
Operating margin	30.1%	14.3%	23.8%	17.1%	3.0%	▼ 14 pts
Net margin	8.4%	-6.6%	15.8%	-2.2%	-4.5%	▼ 2.3 pts
Return on assets (ROA)	3.1%	-2.0%	5.2%	-0.6%	-1.2%	▼ 0.6 pts
Return on equity (ROE)	10.2%	-7.3%	19.1%	-2.7%	-3.9%	▼ 1.2 pts
Free cash flow margin	33.9%	—	—	—	—	—
Current ratio	3.26×	2.14×	1.77×	1.71×	1.50×	▼ 12%
Quick ratio	2.49×	1.31×	0.90×	1.04×	0.92×	▼ 11%
Debt to equity	1.48×	1.65×	1.47×	1.58×	0.96×	▼ 39%
Interest coverage	3.35×	1.34×	2.60×	1.68×	0.28×	▼ 83%

TGB price history

Price history is added with the daily price update and will appear after the next one.

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Bringing the fundamentals into focus…

Overall health

Strength: growing faster than most peersgrowing faster than peers

Drawback: less profitable than most peersless profitable than peers

Drawback: its shares are priced higher than most peers relative to what it earnspriced higher than peers for its earnings

Drawback: higher risk than most peers: its share price swings more than most peers’ (beta 2.07 vs a peer median of 0.69) and more debt relative to equity (0.96× vs a peer median of 0.36×)higher risk: bigger price swings (beta 2.07 vs peers 0.69) and more debt vs equity (0.96× vs peers 0.36×)

Ranks #990 of 1,217 basic materials companies (bottom 19%)

See how it ranks against its peers

Worth knowing

Valuation signals disagree. Cheaper than 74% of peers on free cash flow, but only 0% on earnings.

Relative to its free cash flow, Trekor Metals looks cheaper than 74% of peers; relative to its earnings, cheaper than only 0%. The valuation score blends the two, so look at which measure fits this business best.

Sales growing faster than profits. Since 2022 (an unusually weak year for operating profit): revenue +72%, operating profit −64%.Since 2022: revenue +72%, operating profit −64%.

Since 2022, Trekor Metals's revenue changed +72% while operating profit fell 64%: costs rose faster than sales.

Not profitable yet. Reported a loss in the 12 months to December 2025.

Trekor Metals reported a net loss over the last twelve months, so earnings-based measures can't show it as cheap.

Financials may be out of date. Latest financial period ended 10 months ago.

The latest financial period we have ended 10 months ago, so the scores may not reflect recent results.

Questions investors ask about Trekor Metals

Is Trekor Metals getting weaker?

Its latest SEC filing (Mar 31, 2026) got weaker in some ways: operating margin fell 14.1 points to 3.0%; operating profit now covers interest only 0.3x. Its overall score is unchanged at 32/100 since Oct 28, 2026.

How is Trekor Metals valued vs its peers?

Priced higher than most peers relative to what it earns. Valuation scores 35/100 against 1,371 basic materials peers. Free cash flow yield 7.0% vs a peer median of 2.6% (stronger than 74% of peers).Free cash flow yield 7.0% vs peers 2.6% (stronger than 74% of peers). Earnings yield -0.8% vs a peer median of 3.6% (weaker than 100% of peers).Earnings yield -0.8% vs peers 3.6% (weaker than 100% of peers).

Is Trekor Metals growing?

Yes, faster than most of its peers. Growth scores 69/100 against 1,371 basic materials peers. 3-year revenue growth 19.8% vs a peer median of -0.0% (stronger than 89% of peers).3-year revenue growth 19.8% vs peers -0.0% (stronger than 89% of peers).

How profitable is Trekor Metals?

Less profitable than most of its peers. Profitability scores 20/100 against 1,371 basic materials peers. Return on assets -1.2% vs a peer median of 2.5% (weaker than 82% of peers).Return on assets -1.2% vs peers 2.5% (weaker than 82% of peers).

How risky is Trekor Metals?

Higher risk relative to 1,371 basic materials peers, judged on debt, liquidity and share-price swings. Beta 2.07 vs a peer median of 0.69 (weaker than 100% of peers).Beta 2.07 vs peers 0.69 (weaker than 100% of peers). A relative measure, not a bankruptcy probability.

Previous year

Latest year

Change

Revenue (12 months)

608.1M CAD

672.9M CAD

+10.7%

Net income (12 months)

−13.4M CAD

−30.1M CAD

+123.7%

Operating margin

17.1%

3.0%

−14.1 pts

Debt

797.2M CAD

747.0M CAD

−6.3%

Cash

172.7M CAD

188.0M CAD

+8.8%

Key ratios

FY 2021

FY 2022

FY 2023

FY 2024

FY 2025

Change

Gross margin

37.8%

13.8%

28.7%

19.3%

22.0%

▲ 2.7 pts

Operating margin

30.1%

14.3%

23.8%

17.1%

3.0%

▼ 14 pts

Net margin

8.4%

-6.6%

15.8%

-2.2%

-4.5%

▼ 2.3 pts

Return on assets (ROA)

3.1%

-2.0%

5.2%

-0.6%

-1.2%

▼ 0.6 pts

Return on equity (ROE)

10.2%

-7.3%

19.1%

-2.7%

-3.9%

▼ 1.2 pts

Free cash flow margin

33.9%

—

Current ratio

3.26×

2.14×

1.77×

1.71×

1.50×

▼ 12%

Quick ratio

2.49×

1.31×

0.90×

1.04×

0.92×

▼ 11%

Debt to equity

1.48×

1.65×

1.47×

1.58×

0.96×

▼ 39%

Interest coverage

3.35×

1.34×

2.60×

1.68×

0.28×

▼ 83%