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Surge Battery Metals Inc (NILI) fair value: what the stock is really worth

As of Nov 6, 2026: fair value (intrinsic value) of Surge Battery Metals Inc stock C$0.42, price C$0.52, that is 19.0% below the price, quality 39 out of 100. Rating: overvalued. The value is an estimate: none of our valuation models currently carries, it draws on revenue and assets compared with similar companies. Updated daily.

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Basic Materials CA · ISIN CA86882X1096

SB Surge Battery Metals Inc logo Thin data Nov 10, 2026

Surge Battery Metals Inc

NILI · V
Expensive, weak quality

Our calculation puts a fair price 19% below what the stock costs today.

Mixed vs. peers (3/7)
Fair value C$0.4173 · Overvalued
Quality 39/100
Negative free cash flow
Narrow moat 3/100 · thin data
Thin data
⟳ CyclicalEstimate
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26 valuation models 8 families, DCF to NCAV 37 quality factors margins, balance sheet, cashflow, debt 6 AI factors moat, what no ratio measures 2,000+ data points verified, per stock, median

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Price vs Fair Value

C$1.48 C$0.0400 Fair Value C$0.4173 Aug 2021 Nov 2026

White line = price, green steps = our fair value per fiscal year. As of Nov 10, 2026.

How to read this chart

60‑month range C$0.0400 – C$1.48 · fair‑value band C$0.3130 – C$0.5216 · the C$0.5150 price screens above the C$0.4173 fair value. As of Nov 10, 2026.

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Company profile

Surge Battery Metals Inc., an exploration stage company, acquires, explores, and develops mineral properties in North America. It primarily explores for lithium and nickel.

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The company's flagship property is the 100% owned Nevada North lithium project consisting of 685 mineral claims located in Elko County, Nevada. The company was formerly known as Surge Exploration Inc. and changed its name to Surge Battery Metals Inc. in March 2021.

Surge Battery Metals Inc. was incorporated in 1987 and is based in West Vancouver, Canada.

Stock analysis

Surge Battery Metals Inc (NILI) currently trades at C$0.5150, while our estimate is C$0.4173, 19% below the price, so the stock looks overvalued today.

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Valuation

None of our valuation models currently carries for this company, usually because of losses or heavy investment. The estimate draws on revenue and assets compared with similar companies and is less precise than a model-based fair value.

Scenario range: C$0.3130 (bear) to C$0.5216 (bull), the price of C$0.5150 sits inside it. Bear and bull are the same models on cautious and optimistic assumptions, a range, not a price target.

Quality & growth

The Quality Score stands at 39/100 (below-average quality), in the Basic Materials sector.

Surge Battery Metals Inc reported revenue of C$0 in FY2025 versus C$0 in FY2021. Reported net income was −C$6.7M in FY2025.

Key figures

Market cap C$171M (≈ $121M) Micro · EPS (TTM) C$−0.0800 · Return on equity −26.1% · Return on assets (EBIT) −51.7% (5-year average) · Free cash flow −C$3.7M.

Competitive moat

Our AI-assisted moat analysis scores the competitive advantage at 3 out of 100 (low confidence).

What moves the price

The share trades about 50% below its 52-week high and 29% above its 52-week low, currently below its 200-day average.

For context, the median of 10 Basic Materials peers we cover trades at −10% fair-value upside, at −19%, NILI screens richer than that median.

Fair Value

Bear C$0.3130 Fair Value C$0.4173 Bull C$0.5216
Price C$0.5150 · Downside -19.0%
Estimate. None of our valuation models currently carries for this company, usually because of losses or heavy investment. The estimate draws on revenue and assets compared with similar companies and is less precise than a model-based fair value.

Quality Score breakdown

Overall quality 39/100

It rates the business: profits, how they develop, real cash, balance sheet, investing and share count.

Profitability 0
How much profit the company makes from its sales and capital
Quality Growth 75
Are margins and returns getting better?
Cashflow 52
Do the profits arrive as real cash?
Financial strength 88
Debt, balance sheet and risk of trouble
Investment 0
Does it invest with discipline instead of growing at any price?
Low Volatility 37
How calm the share price moves, does not count
Price momentum 32
Price momentum of the last 3 to 12 months, does not count
Near the 52-week high 37
Distance to the 52-week high, does not count
New shares 0
Buys back shares or issues new ones?

Open the full quality analysis →

Revenue & earnings trend

What shareholders gained per year ⓘWe only publish this rate when it is defensible. Reason: fiscal 2025 is a loss year, no rate is defined from a loss
not computed

NILI screens overvalued: fair value 19% below the price. Compare with BHP Group →

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Peer GroupⓘHow this stock ranks against its industry: the green marker is this stock, the band is the typical 25–75% peer range, and the tick is the median.Other Industrial Metals & Mining · 577 stocks

Beats the industry median on 3/6 measures
A mixed picture versus its industry peers.
Valuation
Quality Score 39 · Above median
Fair Value upside −19.0% · Above median
Profitability
Return on assets −37.8% · Bottom 25%
Operating margin (12 months) 0.0% · Above median
Growth and dividend
Revenue growth (quarter YoY) 0.0% · Below median

Valuation Multiplesvs Other Industrial Metals & Mining median · lower = cheaper

P/B 6.94× · Priciest 25%

Strength profile in five axes (Snowflake)

VALUEFUTUREPASTHEALTHDIVIDEND
This stock
VALUEFUTUREPASTHEALTHDIVIDEND
Sector peers
VALUE (fair-value potential)8 · sector 4
FUTURE (revenue growth)0 · sector 45
PAST (return on equity)0 · sector 0
HEALTH (low debt)0 · sector 96
DIVIDEND (yield)0 · sector 33

Context: sector, industry, market

Values & ESG

Does this company touch areas you may want to avoid? The classification is inferred from sector and industry.

None of the checked exposures detected

Similar stocks

10 more Other Industrial Metals & Mining stocks, each showing price versus our Fair Value estimate.

Stock Price Fair Value vs Fair Value Compare
Vedanta Limited VEDL ₹262.00 ₹334.17 +28% vs NILI
Saudi Arabian Mining Company 1211 57.00 SAR 64.24 SAR +13% vs NILI
Western Mining Co 601168 ¥28.25 ¥30.98 +10% vs NILI
Hindustan Zinc Limited HINDZINC ₹575.95 ₹624.91 +9% vs NILI
Boliden AB BOL kr 515.20 kr 464.45 −10% vs NILI
BHP Group BHP A$60.39 A$47.47 −21% vs NILI
Zhejiang Huayou Cobalt Co 603799 ¥32.69 ¥25.57 −22% vs NILI
Korea Zinc Company 010130 967,000 KRW 649,125 KRW −33% vs NILI
CMOC Group 603993 ¥13.71 ¥6.82 −50% vs NILI
China Tungsten And Hightech Materials Co 000657 ¥40.90 ¥4.44 −89% vs NILI

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Surge Battery Metals Inc: fair value per Fair Value Calculator

Cite: Fair Value Calculator (2026). "Surge Battery Metals Inc Fair Value". https://www.fairvalue-calculator.com/stock/NILI

Frequently asked questions

Is Surge Battery Metals Inc (NILI) overvalued or undervalued?
As of Nov 10, 2026, our estimate of fair value is C$0.4173 versus a price of C$0.5150, about 19% lower (overvalued).
What is the fair value of NILI?
Our estimate for Surge Battery Metals Inc is C$0.4173 (as of Nov 10, 2026), built from audited fundamentals. The current price: C$0.5150.
What is the quality score of NILI?
Surge Battery Metals Inc has a Quality Score of 39/100. It measures business quality (profitability, growth, cash flow, balance-sheet strength, investment discipline, share issuance). Market factors such as price momentum and volatility do not enter the number; they are shown separately in the detail view.
What is the price target for Surge Battery Metals Inc (NILI)?
Our calculated price target is the estimate of C$0.4173 (as of Nov 10, 2026). Cautious scenario C$0.3130, optimistic scenario C$0.5216. It is an estimate from revenue and assets compared with similar companies, because none of our valuation models currently carries, not an analyst target.
What is the Surge Battery Metals Inc stock forecast for 2026?
Our estimate puts fair value at C$0.4173, about 19% lower versus a price of C$0.5150 (overvalued). Cautious scenario C$0.3130, optimistic scenario C$0.5216. The calculation is refreshed regularly with new filings.
What is the intrinsic value of Surge Battery Metals Inc (NILI)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For Surge Battery Metals Inc it is C$0.4173 per share (as of Nov 10, 2026), against a price of C$0.5150.
Is Surge Battery Metals Inc stock overvalued or undervalued in 2026?
As of Nov 10, 2026, NILI trades above its calculated fair value: price C$0.5150, fair value C$0.4173, a gap of about −19% (overvalued). The calculation is refreshed with each new quarterly report, so the verdict can change during the year.
Is fair value the same as the market price of NILI?
No. The price is what the market pays today (C$0.5150); the fair value is what the company's own numbers justify (C$0.4173). For Surge Battery Metals Inc the two are C$0.0977 per share apart. That gap is exactly why we show both numbers side by side.
How much is Surge Battery Metals Inc worth?
The market values Surge Battery Metals Inc at about C$171M (market capitalisation, as of Nov 10, 2026). Per share that is C$0.5150; our models calculate a fair value of C$0.4173 per share.
What do the bullish and bearish scenarios say about NILI?
Our models span a range for Surge Battery Metals Inc: cautious scenario C$0.3130, base C$0.4173, optimistic C$0.5216 per share (as of Nov 10, 2026, price C$0.5150). The range comes from different growth and margin assumptions, not from analyst opinions.
How solid is the balance sheet of Surge Battery Metals Inc (NILI)?
Balance-sheet figures for Surge Battery Metals Inc (as of Nov 10, 2026): return on equity −26.1%. They feed the Quality Score of 39/100, which measures business quality independently of the share price.
How far is NILI from its 52-week high?
Surge Battery Metals Inc trades at C$0.5150, about 50% below its 52-week high of C$1.04 and 29% above the low of C$0.4000 (as of Nov 6, 2026). Distance from the high says nothing about value: that is what the fair value of C$0.4173 is for.
Which stocks are comparable to Surge Battery Metals Inc?
From the same area (Basic Materials) we also value BHP Group, Saudi Arabian Mining Company, CMOC Group, Hindustan Zinc Limited, among others. Each of them has its own fair-value calculation on this site using the same models, so the comparison is like for like.
Is Surge Battery Metals Inc stock attractive at the current price?
The data as of Nov 10, 2026: price C$0.5150, calculated fair value C$0.4173 (−19%), Quality Score 39/100. Whether that fits your horizon and risk tolerance is your call. We provide the calculation, not investment advice.
Is it still worth investing in stocks now?
The global stock market currently sits 15.1% above its aggregate fair value. Surge Battery Metals Inc itself currently trades above fair value. An expensive market is no reason to stay out and no reason to buy everything at once: keep a broad savings plan running, buy single stocks only with money you can do without, and hold part of your money liquid while the market is high. The full picture including sectors is on is it worth investing now.
What is the share price of Surge Battery Metals Inc (NILI)?
The closing price on Nov 6, 2026 was C$0.5150. Our estimate is C$0.4173, about 19% lower (overvalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with Surge Battery Metals Inc right now?
Weak quality (39/100) and above fair value at the same time, the margin of safety is missing on both counts. Evidence is limited here (fewer models, shorter history), so the fair value is a rougher estimate than usual.

Key figures of Surge Battery Metals Inc

How large is the market capitalisation of Surge Battery Metals Inc (NILI)?
The market capitalisation of Surge Battery Metals Inc is C$171M (≈ $121M). The stock-market value of the whole company: share price times number of shares. It is what the market asks for the entire business today.
What are the earnings per share of Surge Battery Metals Inc (NILI)?
Earnings per share at Surge Battery Metals Inc are C$−0.0800. Earnings per share over the last twelve months: total profit spread across every single share.
What is the return on equity of Surge Battery Metals Inc (NILI)?
The return on equity (ROE) of Surge Battery Metals Inc is −26.1% (last twelve months). Profit relative to shareholders' equity, how efficiently the company works with its owners' money.
What is the EBIT return on assets of Surge Battery Metals Inc (NILI)?
On an EBIT basis the return on assets of Surge Battery Metals Inc is −51.7% (avg 5y). Operating profit (EBIT) relative to everything the company owns, as a multi-year average. It describes the business model rather than one good or bad year.
How much free cash flow does Surge Battery Metals Inc (NILI) generate?
The free cash flow of Surge Battery Metals Inc is −C$3.7M (fiscal year 2025). The cash truly left after running and investing in the business, this is what pays dividends and buybacks.
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