Magna Mining

MGMNF

Industrial Materials · Basic Materials

Price

$1.94

+0.10 (+5.66%)

Market Cap

$486.6M

Exchange

Other OTC

Winston Score

Winston is worried

Weak fundamentals across most pillars.

Data as of Aug 23, 2026 · filings through Jun 30, 2026

How the score breaks down

Quality

Weak

Growth

Mixed

Cash Flow

Weak

Stability

Good

Valuation

Data not available

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Share count rising — dilution

+83.2% over 4y

The company has issued more shares over this period, which dilutes each existing shareholder’s stake.

Diluted shares outstanding: 117.4M (2021) → 215.0M (2025)

Winston Score History

The full picture

Magna Mining Inc. is a Canadian mining company focused on exploring and developing nickel, copper, and cobalt deposits in the Sudbury Basin of Ontario, Canada. Sudbury is one of the world's most prolific mining regions, and Magna holds several properties there, including the Shakespeare and Crean Hill projects. The company targets metals that are used in electric vehicle batteries and industrial applications.

Magna Mining makes money by eventually selling mined metals, but it is still in the exploration and development stage, meaning it is not yet generating meaningful revenue from production. This explains its negative margins — the company is spending money to advance its projects without significant sales coming in yet. Its competitive position rests on owning properties in a proven mining district with existing infrastructure nearby, which lowers development costs. The key growth driver is advancing its projects toward production, but the main risk is that doing so requires raising additional capital, which can dilute existing shareholders.

Growth Profile

For growth stock investors

When traditional metrics don't capture the full picture, these are the signals growth stock investors use instead.

Revenue Growth

+61.1% YoY

YoY Growth Rate

Strong revenue growth

EPS Growth

+29.8% YoY

YoY Growth Rate

EPS growth accelerating

R&D Spend

C$0/ year

0.0% of revenue

Below sector average (3%)

Research and development spending

Insider Activity

26.2%ownership

Insiders own a meaningful stake in the company

Cash Position

Cash flow positive

C$42M cash & investments

Quarterly Free Cash Flow

↓ Burn rate worsening

Company generates more cash than it spends — no dilution risk from fundraising

Strong grower

Magna Mining is growing revenue at 61% year-over-year. The Winston Score penalises unprofitable companies, but revenue at this pace tells a different story — this is a company still in "build mode."

The Winston Score above measures business quality today. Growth stocks often score lower because they invest in the future rather than maximising current profits. These metrics show what matters most for evaluating that future.

Score breakdown

Every number that matters to educated investors.

Each metric is explained in plain language so you know exactly what you're looking at. Start your free trial now.

Quality

Profit per sale

Gross Margin

0.9%

Thin — 0.9% gross margin

Profit after running costs

Operating Margin

-27.1%

Losing money on operations — -27.1%

Return on the money invested

ROCE

-30.0%

Weak — -30.0% return on capital

Negative ROIC means the business is losing money on every dollar invested in it.

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Growth

Sales growth

Sales YoY

+326.3%

Fast-growing sales (+326.3% YoY)

Profit growth

EPS YoY

-570.4%

Earnings shrinking (-570.4% YoY)

Earnings per share down more than 10%. Either a bad year, or a real decline.

How steady the profit is

EPS Consistency

2/8 quarters

Earnings rarely grow — volatile business

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Cash Flow

Profit that turns into cash

Cash Conversion

N/A

Data not available

Spare cash per sale

FCF Margin

-41.4%

Burning cash (-41.4%)

Free cash flow is negative. They are burning cash, not generating it.

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Stability

What it owes vs what it owns

Debt / Equity

0.19

Conservative — low debt load (0.19)

Covers its interest

Interest Cover

N/A

Data not available

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Valuation

Price vs profit

P/E Ratio (TTM)

N/M

Negative earnings — P/E not meaningful

Cheaper or dearer next year

P/E vs Forward

N/A

not available

Data not available

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Dividends

Not applicable for this business.

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