First Atlantic Nickel & Cobalt (FAN) Stock Overview

Engages in the identification, evaluation, and acquisition of mineral properties in Canada. More details

FAN fundamental analysis
Snowflake Score
Valuation	0/6
Future Growth	0/6
Past Performance	0/6
Financial Health	5/6
Dividends	0/6

Risk Analysis

Earnings have declined by 29.8% per year over past 5 years

Shareholders have been substantially diluted in the past year

Makes less than USD$1m in revenue (CA$0)

Volatile share price over the past 3 months compared to the Canadian market

+ 1 more risk

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First Atlantic Nickel & Cobalt Corp. Competitors

Price History & Performance

Summary of share price highs, lows and changes for First Atlantic Nickel & Cobalt
Historical stock prices
Current Share Price	CA$0.72
52 Week High	CA$1.47
52 Week Low	CA$0.13
Beta	1.96
1 Month Change	33.33%
3 Month Change	-20.00%
1 Year Change	380.00%
3 Year Change	396.55%
5 Year Change	10.77%
Change since IPO	-92.00%

Recent updates

Analysis Article • Dec 20

Is First Atlantic Nickel (CVE:FAN) Using Too Much Debt?

Warren Buffett famously said, 'Volatility is far from synonymous with risk.' So it might be obvious that you need to...

Analysis Article • Sep 04

Is First Atlantic Nickel (CVE:FAN) A Risky Investment?

Howard Marks put it nicely when he said that, rather than worrying about share price volatility, 'The possibility of...

Shareholder Returns

	FAN	CA Metals and Mining	CA Market
7D	12.5%	-4.0%	-2.5%
1Y	380.0%	46.6%	21.7%

Return vs Industry: FAN exceeded the Canadian Metals and Mining industry which returned 46.6% over the past year.

Return vs Market: FAN exceeded the Canadian Market which returned 21.7% over the past year.

Price Volatility

Is FAN's price volatile compared to industry and market?
FAN volatility
FAN Average Weekly Movement	13.8%
Metals and Mining Industry Average Movement	10.9%
Market Average Movement	9.4%
10% most volatile stocks in CA Market	16.5%
10% least volatile stocks in CA Market	3.7%

Stable Share Price: FAN's share price has been volatile over the past 3 months compared to the Canadian market.

Volatility Over Time: FAN's weekly volatility (14%) has been stable over the past year, but is still higher than 75% of Canadian stocks.

About the Company

Founded	Employees	CEO	Website
2011	n/a	Adrian Smith	www.fanickel.com

First Atlantic Nickel & Cobalt Corp. engages in the identification, evaluation, and acquisition of mineral properties in Canada. It explores for nickel, copper, silver, cobalt, Tungsten, and gold deposits. The company was formerly known as First Atlantic Nickel Corp. and changed its name to First Atlantic Nickel & Cobalt Corp. in April 2026.

First Atlantic Nickel & Cobalt Corp. Fundamentals Summary

How do First Atlantic Nickel & Cobalt's earnings and revenue compare to its market cap?
FAN fundamental statistics
Market cap	CA$109.34m
Earnings (TTM)	-CA$4.22m
Revenue (TTM)	n/a

0.0x

P/S Ratio

-26.3x

P/E Ratio

Is FAN overvalued?

See Fair Value and valuation analysis

Earnings & Revenue

Key profitability statistics from the latest earnings report (TTM)
FAN income statement (TTM)
Revenue	CA$0
Cost of Revenue	CA$0
Gross Profit	CA$0
Other Expenses	CA$4.22m
Earnings	-CA$4.22m

Last Reported Earnings

Apr 30, 2026

Next Earnings Date

n/a

Earnings per share (EPS)	-0.027
Gross Margin	0.00%
Net Profit Margin	0.00%
Debt/Equity Ratio	20.4%

How did FAN perform over the long term?

See historical performance and comparison

Company Analysis and Financial Data Status

Data	Last Updated (UTC time)
Company Analysis	2026/09/11 00:44
End of Day Share Price	2026/09/11 00:00
Earnings	2026/04/30
Annual Earnings	2026/01/31

Data Sources

The data used in our company analysis is from S&P Global Market Intelligence LLC. The following data is used in our analysis model to generate this report. Data is normalised which can introduce a delay from the source being available.

Package	Data	Timeframe	Example US Source ^*
Company Financials	10 years	Income statement Cash flow statement Balance sheet	SEC Form 10-K SEC Form 10-Q
Analyst Consensus Estimates	+3 years	Forecast financials Analyst price targets	Analyst Research Reports Blue Matrix
Market Prices	30 years	Stock prices Dividends, Splits and Actions	ICE Market Data SEC Form S-1
Ownership	10 years	Top shareholders Insider trading	SEC Form 4 SEC Form 13D
Management	10 years	Leadership team Board of directors	SEC Form 10-K SEC Form DEF 14A
Key Developments	10 years	Company announcements	SEC Form 8-K

^* Example for US securities, for non-US equivalent regulatory forms and sources are used.

Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more.

Analysis Model and Snowflake

Details of the analysis model used to generate this report is available on our Github page, we also have guides on how to use our reports and tutorials on Youtube.

Learn about the who designed and built the Simply Wall St analysis model.

Industry and Sector Metrics

Our industry and section metrics are calculated every 6 hours by Simply Wall St, details of our process are available on Github.

Analyst Sources

First Atlantic Nickel & Cobalt Corp. is covered by 0 analysts. 0 of those analysts submitted the estimates of revenue or earnings used as inputs to our report. Analysts submissions are updated throughout the day.

First Atlantic Nickel & Cobalt (FAN) Stock Overview

Risk Analysis

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First Atlantic Nickel & Cobalt Corp. Competitors

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Price History & Performance

Recent News & Updates

First Atlantic Nickel & Cobalt Showcases Awaruite Samples Processed with Onshore Max into High-Grade Alloy Concentrate At Dibx 2026

First Atlantic Nickel & Cobalt Intersects Large-Grain Visible Awaruite over 525 Meters in Deepest Drill Hole Xl-26-16 At Alloy Max Zone, Pipestone Xl Project

First Atlantic Nickel & Cobalt Appoints Former US Critical Minerals Director as Advisor

First Atlantic Nickel & Cobalt Announces Preliminary Results from Its Proprietary Onshore Max Recovery and Concentration Process At Pipestone Xl Nickel-Cobalt Alloy Project

First Atlantic Nickel & Cobalt Corp. Reports Second Large-Scale Awaruite Discovery At Alloy Max North, Pipestone XL Project

New major risk - Share price stability

Recent updates

First Atlantic Nickel & Cobalt Showcases Awaruite Samples Processed with Onshore Max into High-Grade Alloy Concentrate At Dibx 2026

First Atlantic Nickel & Cobalt Intersects Large-Grain Visible Awaruite over 525 Meters in Deepest Drill Hole Xl-26-16 At Alloy Max Zone, Pipestone Xl Project

First Atlantic Nickel & Cobalt Appoints Former US Critical Minerals Director as Advisor

First Atlantic Nickel & Cobalt Announces Preliminary Results from Its Proprietary Onshore Max Recovery and Concentration Process At Pipestone Xl Nickel-Cobalt Alloy Project

First Atlantic Nickel & Cobalt Corp. Reports Second Large-Scale Awaruite Discovery At Alloy Max North, Pipestone XL Project

New major risk - Share price stability

First Atlantic Nickel & Cobalt Corp., Annual General Meeting, Aug 13, 2026

First Atlantic Nickel & Cobalt Corp Showcases Awaruite Nickel-Cobalt Alloy At Critical Minerals For Defence 2026

First Atlantic Nickel & Cobalt Corp Reports Electron Microprobe Analysis Returning 77.62% Nickel and 1.69% Cobalt in Awaruite At the Rpm Zone, Pipestone Xl Project

New minor risk - Share price stability

First Atlantic Nickel Corp Commences Drilling at New Alloy Max Zone Discovery, 7 Km North of RPM Zone, at the Pipestone XL Nickel-Cobalt Alloy Project

First Atlantic Nickel Corp Announces New Alloy Max Zone Discovery At Pipestone Xl Nickel-Cobalt Alloy Project

First Atlantic Nickel Corp. announced that it has received CAD 1.3 million in funding

First Atlantic Nickel Corp. announced that it has received CAD 3.9 million in funding

First Atlantic Nickel Increases RPM Zone Strike Length 50% to over 1.2 Km and Width to over 800 M from Phase 2X Drilling At Pipestone Xl Magnetic Nickel-Cobalt Alloy Project

First Atlantic Nickel Corp. Announces Its Pipestone XL Discovery of Awaruite

New major risk - Shareholder dilution

First Atlantic Nickel Corp. announced that it has received CAD 2.619317 million in funding

Is First Atlantic Nickel (CVE:FAN) Using Too Much Debt?

First Atlantic Nickel Corp. (TSXV:FAN) agreed to acquire Ophiolite-X for CAD 0.05 million.

First Atlantic Nickel Expands Phase 2X Drilling at Pipestone XL Nickel Alloy Project

First Atlantic Nickel Reports Highest Awaruite (Nickel-Iron-Cobalt Alloy) Dtr Grades and Recovery to Date from Expansion Drilling At Pipestone Xl Nickel Alloy Project

First Atlantic Nickel Phase 2X Drilling Expands Lateral Width of Awaruite Nickel Alloy Mineralization Along Sections S1 and S3 at Rp Zone Within Newly Expanded 4-Kilometer Target

First Atlantic Nickel Corp. Reports Phase 2X Results from Pipestone XL Nickel Alloy Project

First Atlantic Nickel Corp. Announces Expanded 4-Kilometer Strike Length at RPM Zone from DTR Surface Sampling at Pipestone XL Nickel Alloy Project

First Atlantic Nickel Corp. Announces its Atlantic Nickel Project to Pipestone XL to Research 100% Ownership of 30 Km Pipestone Ophiolite Complex and Provides Updates on Phase 2X Program

First Atlantic Nickel Corp. Renames Atlantic Nickel Project to Pipestone XL to Reflect 100% Ownership of 30 Km Pipestone Ophiolite Complex and Provides Updates on RPM Phase 2X Program

First Atlantic Nickel Corp. Expands RPM Zone to 750 Meters in Width with Second Phase 2 Drill Hole: An-25-07 Intersects 495 Meters of Visible Awaruite Mineralization

Is First Atlantic Nickel (CVE:FAN) A Risky Investment?

New major risk - Market cap size

First Atlantic Nickel Corp. Reports Initial Phase 2 Drill Results

First Atlantic Nickel Corp. Unveils Initial Phase 2 Drill Plan Map with Drilling Underway Following Phase 1 Discovery At Rpm Zone Confirming First Large-Scale Awaruite in the Atlantic

First Atlantic Nickel Corp. Announces Positive Davis Tube Recovery (DTR) Metallurgical Test Results from Drill Hole AN-24-05

First Atlantic Nickel Expands RPM Zone Awaruite Nickel-Alloy (Ni3Fe) Discovery: 400-Meter Northern Extension

New major risk - Financial position

First Atlantic Nickel Corp. Announces Positive Davis Tube Recovery Metallurgical Test Results from Drill Hole

First Atlantic Nickel Extends Strike Length of Rpm Zone Discovery by 400 Meters, Intersecting .23% Nickel Over396 Meters in Fourth Drill Hole

First Atlantic Nickel Corp. Starts Phase 2 Drilling to Expand New Nickel Discovery At Rpm Zone in District-Scale Atlantic Nickel Project

First Atlantic Nickel Corp. Announces Assay Results from Drill Hole at the RPM Zone and the Fourth in the Phase 1 Drilling Program at its 100%-Owned Atlantic Nickel Project in Central Newfoundland

First Atlantic Nickel Corp. Announces Assay Results from Drill Hole An-24-04

First Atlantic Nickel Corp. Reports Davis Tube Recovery Metallurgical Test Results from Drill Hole An-24-03

First Atlantic Nickel Reports Dtr Metallurgical Results from Rpm Hole 2: Magnetic Concentrate of 1.32% Nickel & 1.95% Chromium over Entire 216 Meter Drill Hole

First Atlantic Nickel Corp. announced that it has received CAD 1.073198 million in funding

Insufficient new directors

First Atlantic Nickel Corp. announced that it expects to receive CAD 1.073198 million in funding

First Atlantic Nickel Corp. Announces the Assay Results from Drill Hole An-24-03, the Third Drill Hole of the Phase 1 Program and the Second Drill Hole At the Rpm Zone, Located Within Its 100%-Owned Atlantic Nickel Project

First Atlantic Nickel Corp., Annual General Meeting, May 13, 2025

First Atlantic Nickel Releases Initial DTR Metallurgical Results: Magnetic Concentrate of 1.37% Nickel & 1.73% Chromium over 383.1 Metres

First Atlantic Nickel Corp. Reports New Discovery At Super Gulp

First Atlantic Nickel Corp. announced that it has received CAD 3 million in funding

First Atlantic Nickel Corp. announced that it expects to receive CAD 3 million in funding

First Atlantic Nickel Corp. (TSXV:FAN) completed the acquisition of RPM Zone claims.

First Atlantic Nickel Corp. (TSXV:FAN) entered into an asset purchase agreement to acquire RPM Zone claims for CAD 0.16 million.

First Atlantic Nickel Step-Out Drilling Expands RPM Zone Mineralization to 500 Meters in Width with Large Awaruite Grains Up to 1,000 Microns

First Atlantic Nickel Submits Additional Drill Permits and Plans New Direct Access Route to Expand and Accelerate RPM Zone Exploration Program

First Atlantic Drills New Discovery At Rpm Zone with 394 Meters of Visually Disseminated Awaruite, 10 Km South of Super Gulp Zone

First Atlantic Nickel Corp. Provides an Update on the Ongoing Drilling At Its 100% Owned, Multi- Zone, District-Scale Atlantic Nickel Project

First Atlantic Nickel Corp. Commences Drilling at Atlantic Nickel Project After New Visible Awaruite Discoveries Across 30 Km Trend

New major risk - Financial position

First Atlantic Nickel Accelerates Exploration At Atlantic Nickel Project with Expanded Crew, LiDAR Survey, and Infrastructure Upgrades

First Atlantic Nickel Confirms 30 Km Trend At Atlantic Nickel Project and Begins 2024 Exploration Program

First Atlantic Nickel Corp. Identifies 30Km Awaruite Nickel Trend from Data Compilation At Atlantic Nickel Project in Central Newfoundland

First Atlantic Nickel Corp. announced that it has received CAD 2.085 million in funding