Tactical Resources (TREO)
Market Price (11/5/2026): $1.71 | Market Cap: $23.3 MilSector: Materials | Industry: Diversified Metals & Mining
Tactical Resources (TREO)
Market Price (11/5/2026): $1.71Market Cap: $23.3 MilSector: MaterialsIndustry: Diversified Metals & Mining
Investment Highlights Why It Matters Detailed financial logic regarding cash flow yields vs trend-riding momentum.
Megatrend and thematic driversMegatrends include Battery Technology & Metals, Renewable Energy Transition, and Electric Vehicles & Autonomous Driving. Themes include Advanced Battery Components, Show more. | Weak multi-year price returns2Y Excs Rtn is -107% | Very low revenueRev LTMTotal Revenue or Sales, Last Twelve Months is 0 Not profitable at operating income levelOp Inc LTMOperating Income, Last Twelve Months is -1.2 Mil Yield minus risk free rate is negativeERPEquity Risk Premium (ERP) = Total Yield - Risk Free Rate, Reflects the premium above risk free assets offered by the investment. is -106% High stock price volatilityVol 12M is 138% |
| Megatrend and thematic driversMegatrends include Battery Technology & Metals, Renewable Energy Transition, and Electric Vehicles & Autonomous Driving. Themes include Advanced Battery Components, Show more. |
| Weak multi-year price returns2Y Excs Rtn is -107% |
| Very low revenueRev LTMTotal Revenue or Sales, Last Twelve Months is 0 |
| Not profitable at operating income levelOp Inc LTMOperating Income, Last Twelve Months is -1.2 Mil |
| Yield minus risk free rate is negativeERPEquity Risk Premium (ERP) = Total Yield - Risk Free Rate, Reflects the premium above risk free assets offered by the investment. is -106% |
| High stock price volatilityVol 12M is 138% |
Qualitative Assessment
AI Analysis | Feedback
Updated on 11/1/2026
Tactical Resources (TREO) stock has lost about 95% since 7/31/2026 because of the following key factors:
1. Severe Financial Instability and Going Concern Warning.
Tactical Resources reported no revenue and a net loss of approximately $2.9 million for the fiscal year ended July 31, 2026 (FY2026). As of July 31, 2026, the company also disclosed a significant working capital deficit of approximately $6.9 million and an accumulated deficit of approximately $16.2 million. Management explicitly stated that "substantial doubt exists about its ability to continue as a going concern," highlighting severe financial challenges.
2. Early Stage and Lack of Commercial Operations for Key Projects.
The company's primary asset, the Peak Rare Earth Elements (REE) Project, remains in the exploration stage, and Tactical Resources has not yet established commercially exploitable mineral reserves. Despite announcements in fiscal Q1 2027 (starting August 2026) regarding plans to advance the project and appoint advisors, the absence of revenue and commercially viable operations contributes to high risk and uncertainty for investors in an exploration and development company.
Show more
Tactical Resources (TREO) stock has lost about 95% since 7/31/2026 because of the following key factors:
1. Severe Financial Instability and Going Concern Warning.
Tactical Resources reported no revenue and a net loss of approximately $2.9 million for the fiscal year ended July 31, 2026 (FY2026). As of July 31, 2026, the company also disclosed a significant working capital deficit of approximately $6.9 million and an accumulated deficit of approximately $16.2 million. Management explicitly stated that "substantial doubt exists about its ability to continue as a going concern," highlighting severe financial challenges.
2. Early Stage and Lack of Commercial Operations for Key Projects.
The company's primary asset, the Peak Rare Earth Elements (REE) Project, remains in the exploration stage, and Tactical Resources has not yet established commercially exploitable mineral reserves. Despite announcements in fiscal Q1 2027 (starting August 2026) regarding plans to advance the project and appoint advisors, the absence of revenue and commercially viable operations contributes to high risk and uncertainty for investors in an exploration and development company.
Show more
Updated on 11/1/2026
Tactical Resources (TREO) stock has lost about 95% since 7/31/2026 because of the following key factors:
1. Severe Financial Instability and Going Concern Warning.
Tactical Resources reported no revenue and a net loss of approximately $2.9 million for the fiscal year ended July 31, 2026 (FY2026). As of July 31, 2026, the company also disclosed a significant working capital deficit of approximately $6.9 million and an accumulated deficit of approximately $16.2 million. Management explicitly stated that "substantial doubt exists about its ability to continue as a going concern," highlighting severe financial challenges.
2. Early Stage and Lack of Commercial Operations for Key Projects.
The company's primary asset, the Peak Rare Earth Elements (REE) Project, remains in the exploration stage, and Tactical Resources has not yet established commercially exploitable mineral reserves. Despite announcements in fiscal Q1 2027 (starting August 2026) regarding plans to advance the project and appoint advisors, the absence of revenue and commercially viable operations contributes to high risk and uncertainty for investors in an exploration and development company.
3. Negative Investor Sentiment Following Reverse Stock Split and Nasdaq Listing Context.
On August 17, 2026, Tactical Resources executed a 1-for-4 reverse stock split, which was primarily conducted to meet Nasdaq Capital Market listing requirements for minimum share price. While this action enabled the company's common shares to begin trading on the Nasdaq Capital Market under the ticker symbol "TREO" on August 20, 2026, such reverse stock splits often signal underlying financial distress and can lead to a sustained erosion of investor confidence, especially when followed by continued stock price decline.
4. Debt Settlement Through Share Issuance.
In fiscal Q1 2027, specifically on August 13, 2026, Tactical Resources issued 920,147 common shares at a deemed price of $2.30 per share to settle approximately $2.1 million of indebtedness owed to certain officers and consultants. This reliance on equity for debt resolution can be viewed negatively by investors as it indicates cash flow issues and potential dilution, impacting the perception of the company's financial health.
Show less
Tactical Resources (TREO) stock has lost about 95% since 7/31/2026 because of the following key factors:
1. Severe Financial Instability and Going Concern Warning.
Tactical Resources reported no revenue and a net loss of approximately $2.9 million for the fiscal year ended July 31, 2026 (FY2026). As of July 31, 2026, the company also disclosed a significant working capital deficit of approximately $6.9 million and an accumulated deficit of approximately $16.2 million. Management explicitly stated that "substantial doubt exists about its ability to continue as a going concern," highlighting severe financial challenges.
2. Early Stage and Lack of Commercial Operations for Key Projects.
The company's primary asset, the Peak Rare Earth Elements (REE) Project, remains in the exploration stage, and Tactical Resources has not yet established commercially exploitable mineral reserves. Despite announcements in fiscal Q1 2027 (starting August 2026) regarding plans to advance the project and appoint advisors, the absence of revenue and commercially viable operations contributes to high risk and uncertainty for investors in an exploration and development company.
3. Negative Investor Sentiment Following Reverse Stock Split and Nasdaq Listing Context.
On August 17, 2026, Tactical Resources executed a 1-for-4 reverse stock split, which was primarily conducted to meet Nasdaq Capital Market listing requirements for minimum share price. While this action enabled the company's common shares to begin trading on the Nasdaq Capital Market under the ticker symbol "TREO" on August 20, 2026, such reverse stock splits often signal underlying financial distress and can lead to a sustained erosion of investor confidence, especially when followed by continued stock price decline.
4. Debt Settlement Through Share Issuance.
In fiscal Q1 2027, specifically on August 13, 2026, Tactical Resources issued 920,147 common shares at a deemed price of $2.30 per share to settle approximately $2.1 million of indebtedness owed to certain officers and consultants. This reliance on equity for debt resolution can be viewed negatively by investors as it indicates cash flow issues and potential dilution, impacting the perception of the company's financial health.
Show less
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Stock Movement Drivers
Fundamental Drivers
The -93.6% change in TREO stock from 7/31/2026 to 11/4/2026 was primarily driven by a 0.0% change in the company's Shares Outstanding (Mil).| (LTM values as of) | 7312026 | 11042026 | Change |
|---|---|---|---|
| Stock Price ($) | 25.76 | 1.65 | -93.6% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 0 | 0 | 0.0% |
| P/S Multiple | ∞ | ∞ | 0.0% |
| Shares Outstanding (Mil) | 2 | 2 | 0.0% |
| Cumulative Contribution | 0.0% |
Market Drivers
7/31/2026 to 11/4/2026| Return | Correlation | |
|---|---|---|
| TREO | -93.6% | |
| Market (SPY) | 2.6% | 25.1% |
| Sector (XLB) | 6.9% | 1.4% |
Fundamental Drivers
The -90.5% change in TREO stock from 4/30/2026 to 11/4/2026 was primarily driven by a -6.8% change in the company's Shares Outstanding (Mil).| (LTM values as of) | 4302026 | 11042026 | Change |
|---|---|---|---|
| Stock Price ($) | 17.41 | 1.65 | -90.5% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 0 | 0 | 0.0% |
| P/S Multiple | ∞ | ∞ | 0.0% |
| Shares Outstanding (Mil) | 2 | 2 | -6.8% |
| Cumulative Contribution | 0.0% |
Market Drivers
4/30/2026 to 11/4/2026| Return | Correlation | |
|---|---|---|
| TREO | -90.5% | |
| Market (SPY) | 7.0% | 12.0% |
| Sector (XLB) | 5.1% | 0.3% |
Fundamental Drivers
The -92.9% change in TREO stock from 10/31/2025 to 11/4/2026 was primarily driven by a -14.3% change in the company's Shares Outstanding (Mil).| (LTM values as of) | 10312025 | 11042026 | Change |
|---|---|---|---|
| Stock Price ($) | 23.20 | 1.65 | -92.9% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 0 | 0 | 0.0% |
| P/S Multiple | ∞ | ∞ | 0.0% |
| Shares Outstanding (Mil) | 2 | 2 | -14.3% |
| Cumulative Contribution | 0.0% |
Market Drivers
10/31/2025 to 11/4/2026| Return | Correlation | |
|---|---|---|
| TREO | -92.9% | |
| Market (SPY) | 13.4% | 13.0% |
| Sector (XLB) | 27.5% | 4.9% |
Fundamental Drivers
The 130.4% change in TREO stock from 10/31/2023 to 11/4/2026 was primarily driven by a 0.0% change in the company's Total Revenues ($ Mil).| (LTM values as of) | 10312023 | 11042026 | Change |
|---|---|---|---|
| Stock Price ($) | 0.72 | 1.65 | 130.4% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 0 | 0 | 0.0% |
| P/S Multiple | ∞ | ∞ | 0.0% |
| Shares Outstanding (Mil) | 2 | 2 | -14.3% |
| Cumulative Contribution | 0.0% |
Market Drivers
10/31/2023 to 11/4/2026| Return | Correlation | |
|---|---|---|
| TREO | 130.4% | |
| Market (SPY) | 89.7% | 3.9% |
| Sector (XLB) | 49.4% | -1.8% |
Price Returns Compared
| 2021 | 2022 | 2023 | 2024 | 2025 | 2026 | Total [1] | |
|---|---|---|---|---|---|---|---|
| Returns | |||||||
| TREO Return | - | -65% | -36% | -32% | 3891% | -92% | -49% |
| Peers Return | 30% | -16% | -8% | -25% | 10121% | -42% | 4335% |
| S&P 500 Return | 27% | -19% | 24% | 23% | 16% | 11% | 102% |
Monthly Win Rates [3] | |||||||
| TREO Win Rate | - | 29% | 58% | 58% | 67% | 36% | |
| Peers Win Rate | 27% | 25% | 29% | 33% | 65% | 32% | |
| S&P 500 Win Rate | 75% | 42% | 67% | 75% | 67% | 36% | |
Max Drawdowns [4] | |||||||
| TREO Max Drawdown | - | - | -93% | -94% | -60% | -95% | |
| Peers Max Drawdown | -22% | -29% | -39% | -39% | -56% | -65% | |
| S&P 500 Max Drawdown | -5% | -25% | -10% | -8% | -19% | -9% | |
[1] Cumulative total returns since the beginning of 2021
[2] Peers: MP, USAR, UUUU, NB, REA.
[3] Win Rate = % of calendar months in which monthly returns were positive
[4] Max drawdown represents maximum peak-to-trough decline within a year
[5] 2026 data is for the year up to 11/4/2026 (YTD)
How Low Can It Go
| Event | TREO | S&P 500 |
|---|---|---|
| 2025 US Tariff Shock | ||
| % Loss | -23.1% | -18.8% |
| % Gain to Breakeven | 30.0% | 23.1% |
| Time to Breakeven | 3 days | 79 days |
| 2024 Yen Carry Trade Unwind | ||
| % Loss | -31.0% | -7.8% |
| % Gain to Breakeven | 45.0% | 8.5% |
| Time to Breakeven | 4 days | 18 days |
| Summer-Fall 2023 Five Percent Yield Shock | ||
| % Loss | -87.8% | -9.5% |
| % Gain to Breakeven | 716.9% | 10.5% |
| Time to Breakeven | 192 days | 24 days |
| 2023 SVB Regional Banking Crisis | ||
| % Loss | -82.9% | -6.7% |
| % Gain to Breakeven | 484.6% | 7.1% |
| Time to Breakeven | 451 days | 31 days |
| 2022 Inflation Shock & Fed Tightening | ||
| % Loss | -76.9% | -24.5% |
| % Gain to Breakeven | 333.3% | 32.4% |
| Time to Breakeven | 102 days | 427 days |
In The Past
Tactical Resources's stock fell -23.1% during the 2025 US Tariff Shock. Such a loss loss requires a 30.0% gain to breakeven.
Preserve Wealth
Limiting losses and compounding gains is essential to preserving wealth.
Asset Allocation
Actively managed asset allocation strategies protect wealth. Learn more.
| Event | TREO | S&P 500 |
|---|---|---|
| 2025 US Tariff Shock | ||
| % Loss | -23.1% | -18.8% |
| % Gain to Breakeven | 30.0% | 23.1% |
| Time to Breakeven | 3 days | 79 days |
| 2024 Yen Carry Trade Unwind | ||
| % Loss | -31.0% | -7.8% |
| % Gain to Breakeven | 45.0% | 8.5% |
| Time to Breakeven | 4 days | 18 days |
| Summer-Fall 2023 Five Percent Yield Shock | ||
| % Loss | -87.8% | -9.5% |
| % Gain to Breakeven | 716.9% | 10.5% |
| Time to Breakeven | 192 days | 24 days |
| 2023 SVB Regional Banking Crisis | ||
| % Loss | -82.9% | -6.7% |
| % Gain to Breakeven | 484.6% | 7.1% |
| Time to Breakeven | 451 days | 31 days |
| 2022 Inflation Shock & Fed Tightening | ||
| % Loss | -76.9% | -24.5% |
| % Gain to Breakeven | 333.3% | 32.4% |
| Time to Breakeven | 102 days | 427 days |
In The Past
Tactical Resources's stock fell -23.1% during the 2025 US Tariff Shock. Such a loss loss requires a 30.0% gain to breakeven.
Preserve Wealth
Limiting losses and compounding gains is essential to preserving wealth.
Asset Allocation
Actively managed asset allocation strategies protect wealth. Learn more.
Peer Outperformance in Diversified Metals & Mining
nullShare of Diversified Metals & Mining constituents that TREO has outperformed, by holding period. Peers without a full price history over a given window are excluded from that window.
1Y
0%
of 31 industry peers · -91.9% return
3Y
77%
of 26 industry peers · 130.4% return
5Y
—
insufficient peer history
null
Median price return by industry across the Materials sector, ranked by 5Y. Diversified Metals & Mining is TREO's own industry. Use this to see which corners of the sector have carried the returns.
| Industry | Names | 1Y med | 3Y med | 5Y med | Top 3 by 5Y |
|---|---|---|---|---|---|
| Copper | 7 | 52.4% | 106.4% | 150.7% | SCCO 273% · TGB 242% · HBM 232% |
| Steel | 14 | 26.5% | 42.4% | 137.5% | STLD 302% · HCC 290% · RS 198% |
| Gold | 37 | 12.4% | 176.7% | 97.3% | IAG 513% · OGC 368% · AGI 308% |
| Silver | 6 | 37.9% | 247.4% | 86.7% | AYA 285% · HL 168% · EXK 58% |
| Construction Materials | 6 | -6.0% | 27.8% | 49.3% | USLM 385% · CRH 112% · VMC 60% |
| Aluminum | 3 | 16.0% | 108.3% | 31.4% | CENX 152% · AA -8% |
| Metal, Glass & Plastic Containers | 11 | 15.1% | 21.4% | 11.1% | GEF 35% · ATR 22% · SLGN 11% |
| Paper & Plastic Packaging Products & Materials | 7 | 29.6% | 17.6% | 2.4% | PKG 123% · CCK 24% · SON 5% |
| Diversified Metals & Mining ← | 23 | -53.0% | -10.4% | -3.1% | SKE 170% · MTRN 108% · MP -3% |
| Diversified Chemicals | 3 | 25.6% | 5.9% | -12.1% | CBT 49% · ASH -12% · CC -45% |
| Specialty Chemicals | 41 | 16.9% | 1.1% | -16.1% | NEU 143% · ECL 46% · SXT 44% |
| Commodity Chemicals | 13 | 23.4% | -21.8% | -28.6% | HWKN 342% · MEOH 52% · DOW -25% |
| Precious Metals & Minerals | 7 | -0.9% | 121.7% | -32.1% | PPTA 260% |
| Fertilizers & Agricultural Chemicals | 10 | 3.1% | 5.9% | -43.5% | CF 112% · CTVA 82% · NTR 27% |
| Paper Products | 4 | -34.7% | -60.2% | -80.6% |
Median of constituents with a full price history over each window. Top names are limited to companies above $2B market cap.
Research & Analysis
Invest in Strategies
Wealth Management
Peer Comparisons
| Peers to compare with: |
Financials
| Median | |
|---|---|
| Name | |
| Mkt Price | 7.50 |
| Mkt Cap | 1.1 |
| Rev LTM | 7 |
| Op Inc LTM | -61 |
| FCF LTM | -79 |
| FCF 3Y Avg | -94 |
| CFO LTM | -39 |
| CFO 3Y Avg | -47 |
Growth & Margins
| Median | |
|---|---|
| Name | |
| Rev Chg LTM | 44.3% |
| Rev Chg 3Y Avg | 28.5% |
| Rev Chg Q | 292.6% |
| QoQ Delta Rev Chg LTM | 24.6% |
| Op Inc Chg LTM | 3.1% |
| Op Inc Chg 3Y Avg | -52.1% |
| Op Mgn LTM | -78.6% |
| Op Mgn 3Y Avg | -72.7% |
| QoQ Delta Op Mgn LTM | 26.8% |
| CFO/Rev LTM | -59.1% |
| CFO/Rev 3Y Avg | -45.6% |
| FCF/Rev LTM | -165.2% |
| FCF/Rev 3Y Avg | -129.8% |
Price Behavior
Price Behavior
| Market Price | $1.65 | |
| Market Cap ($ Bil) | 0.0 | |
| Distance from 52W High | -94.1% | |
| 50 Days | 200 Days | |
| DMA Price | $3.23 | $15.71 |
| DMA Trend | down | down |
| Distance from DMA | -48.9% | -89.5% |
| 3M | 1YR | |
| Volatility | 182.0% | 137.7% |
| Downside Capture | 1458.20 | 357.33 |
| Upside Capture | -108.76 | 2.91 |
| Correlation (S&P 500) | 26.9% | 13.1% |
TREO Betas & Captures as of 10/31/2026
[1] Upside and downside betas calculated using positive and negative benchmark daily returns respectively
| 1M | 2M | 3M | 6M | 1Y | 3Y | |
|---|---|---|---|---|---|---|
| Beta | 3.61 | 2.84 | 4.35 | 1.43 | 1.41 | 1.81 |
| Up Beta | -13.20 | -3.59 | -0.19 | -1.28 | 1.20 | 0.31 |
| Down Beta | -0.28 | 3.50 | 9.20 | 2.89 | 1.47 | -0.55 |
| Up Capture | 131% | -40% | -93% | -36% | -1% | 572% |
| Bmk +ve Days | 12 | 18 | 28 | 62 | 130 | 427 |
| Stock +ve Days | 4 | 12 | 18 | 42 | 82 | 170 |
| Down Capture | 693% | 539% | 597% | 294% | 180% | 110% |
| Bmk -ve Days | 10 | 25 | 36 | 64 | 121 | 325 |
| Stock -ve Days | 17 | 29 | 38 | 70 | 106 | 204 |
[1] Upside and downside betas calculated using positive and negative benchmark daily returns respectively
Based On 1-Year Data
| Annualized Return | Annualized Volatility | Sharpe Ratio | Correlation with TREO | |
|---|---|---|---|---|
| TREO | -92.7% | 137.7% | -1.05 | - |
| Sector ETF (XLB) | 28.4% | 17.9% | 1.23 | 4.8% |
| Equity (SPY) | 13.2% | 12.9% | 0.68 | 13.0% |
| Gold (GLD) | 1.0% | 28.8% | 0.03 | 11.7% |
| Commodities (DBC) | 35.9% | 21.2% | 1.34 | -3.8% |
| Real Estate (VNQ) | 14.3% | 14.1% | 0.70 | 2.0% |
| Bitcoin (BTCUSD) | -28.2% | 43.4% | -0.65 | -1.5% |
Smart multi-asset allocation framework can stack odds in your favor. Learn How
Based On 5-Year Data
| Annualized Return | Annualized Volatility | Sharpe Ratio | Correlation with TREO | |
|---|---|---|---|---|
| TREO | -12.7% | 610.6% | 1.03 | - |
| Sector ETF (XLB) | 7.0% | 19.1% | 0.25 | -0.0% |
| Equity (SPY) | 12.5% | 17.2% | 0.55 | 3.5% |
| Gold (GLD) | 17.3% | 19.1% | 0.73 | 3.9% |
| Commodities (DBC) | 8.0% | 19.6% | 0.29 | -1.3% |
| Real Estate (VNQ) | 1.8% | 18.9% | -0.01 | 1.6% |
| Bitcoin (BTCUSD) | 5.5% | 51.5% | 0.29 | 0.5% |
Smart multi-asset allocation framework can stack odds in your favor. Learn How
Based On 10-Year Data
| Annualized Return | Annualized Volatility | Sharpe Ratio | Correlation with TREO | |
|---|---|---|---|---|
| TREO | -6.6% | 610.6% | 1.03 | - |
| Sector ETF (XLB) | 10.9% | 20.7% | 0.46 | -0.0% |
| Equity (SPY) | 15.4% | 18.0% | 0.73 | 3.5% |
| Gold (GLD) | 11.9% | 16.5% | 0.59 | 3.9% |
| Commodities (DBC) | 7.4% | 18.1% | 0.33 | -1.3% |
| Real Estate (VNQ) | 5.7% | 20.7% | 0.23 | 1.6% |
| Bitcoin (BTCUSD) | 61.0% | 66.2% | 1.01 | 0.5% |
Smart multi-asset allocation framework can stack odds in your favor. Learn How
Industry Resources
| Materials Resources |
| Chemical & Engineering News (C&EN) |
| Mining.com |
| Plastics News |
| Diversified Metals & Mining Resources |
| Mining Technology |
| International Mining |
| Northern Miner |
External Quote Links
| Y Finance | Barrons |
| TradingView | Morningstar |
| SeekingAlpha | ValueLine |
| Motley Fool | Robinhood |
| CNBC | Etrade |
| MarketWatch | Unusual Whales |
| YCharts | Perplexity Finance |
| FinViz |
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Core Cache Last Updated: 11/4/2026