Tactical Resources (TREO)
Market Price (9/21/2026): $4.02 | Market Cap: $8.4 MilSector: Materials | Industry: Diversified Metals & Mining
Tactical Resources (TREO)
Market Price (9/21/2026): $4.02Market Cap: $8.4 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 -77% | 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 -46% High stock price volatilityVol 12M is 147% |
| 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 -77% |
| 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 -46% |
| High stock price volatilityVol 12M is 147% |
Qualitative Assessment
AI Analysis | Feedback
Updated on 9/17/2026
Tactical Resources (TREO) stock has lost about 80% since 5/31/2026 because of the following key factors:
1. Continued Operating Losses and Significant Cash Burn.
Tactical Resources, a mineral exploration and development company, reported an Earnings Per Share (EPS) of -0.09 for its fiscal Q3 2026, which ended April 30, 2026, indicating ongoing unprofitability. Further, the company exhibited a negative Levered Free Cash Flow (YoY) of -68.37% and a Return on Assets of -332.26%, signaling substantial cash consumption and inefficient asset utilization. For a development-stage company, consistent financial losses without a clear path to profitability or significant revenue generation can severely undermine investor confidence and valuation.
2. Market Re-evaluation Post-Share Consolidation and Nasdaq Listing.
Tactical Resources completed a 4-for-1 share consolidation and commenced trading on the Nasdaq Capital Market under the ticker symbol "TREO" on August 20, 2026. While the Nasdaq listing was intended to enhance visibility and attract more capital, such major corporate restructuring, especially following a SPAC transaction, often leads to a market re-evaluation. If the pre-consolidation valuation was perceived as inflated, or if initial investor enthusiasm for the Nasdaq listing waned, this event could have triggered substantial selling pressure as investors adjusted their expectations and assessed the company's valuation against its financial performance and project progress.
Show more
Tactical Resources (TREO) stock has lost about 80% since 5/31/2026 because of the following key factors:
1. Continued Operating Losses and Significant Cash Burn.
Tactical Resources, a mineral exploration and development company, reported an Earnings Per Share (EPS) of -0.09 for its fiscal Q3 2026, which ended April 30, 2026, indicating ongoing unprofitability. Further, the company exhibited a negative Levered Free Cash Flow (YoY) of -68.37% and a Return on Assets of -332.26%, signaling substantial cash consumption and inefficient asset utilization. For a development-stage company, consistent financial losses without a clear path to profitability or significant revenue generation can severely undermine investor confidence and valuation.
2. Market Re-evaluation Post-Share Consolidation and Nasdaq Listing.
Tactical Resources completed a 4-for-1 share consolidation and commenced trading on the Nasdaq Capital Market under the ticker symbol "TREO" on August 20, 2026. While the Nasdaq listing was intended to enhance visibility and attract more capital, such major corporate restructuring, especially following a SPAC transaction, often leads to a market re-evaluation. If the pre-consolidation valuation was perceived as inflated, or if initial investor enthusiasm for the Nasdaq listing waned, this event could have triggered substantial selling pressure as investors adjusted their expectations and assessed the company's valuation against its financial performance and project progress.
Show more
Updated on 9/17/2026
Tactical Resources (TREO) stock has lost about 80% since 5/31/2026 because of the following key factors:
1. Continued Operating Losses and Significant Cash Burn.
Tactical Resources, a mineral exploration and development company, reported an Earnings Per Share (EPS) of -0.09 for its fiscal Q3 2026, which ended April 30, 2026, indicating ongoing unprofitability. Further, the company exhibited a negative Levered Free Cash Flow (YoY) of -68.37% and a Return on Assets of -332.26%, signaling substantial cash consumption and inefficient asset utilization. For a development-stage company, consistent financial losses without a clear path to profitability or significant revenue generation can severely undermine investor confidence and valuation.
2. Market Re-evaluation Post-Share Consolidation and Nasdaq Listing.
Tactical Resources completed a 4-for-1 share consolidation and commenced trading on the Nasdaq Capital Market under the ticker symbol "TREO" on August 20, 2026. While the Nasdaq listing was intended to enhance visibility and attract more capital, such major corporate restructuring, especially following a SPAC transaction, often leads to a market re-evaluation. If the pre-consolidation valuation was perceived as inflated, or if initial investor enthusiasm for the Nasdaq listing waned, this event could have triggered substantial selling pressure as investors adjusted their expectations and assessed the company's valuation against its financial performance and project progress.
3. Absence of Significant New Positive Developments for the Peak Project.
As a company focused on rare earth elements (REE) development, Tactical Resources' stock performance is heavily tied to the progress and potential of its flagship Peak Project in Texas. Despite the Nasdaq listing being aimed at accelerating the project's development, news from May 31, 2026, to September 17, 2026, did not feature any major new operational milestones, significant resource upgrades, or definitive off-take agreements. The lack of new concrete positive updates, coupled with ongoing losses and the absence of analyst coverage or revenue forecasts, likely contributed to investor uncertainty and a decline in the stock's value as confidence in the project's timeline or economic viability may have diminished.
Show less
Tactical Resources (TREO) stock has lost about 80% since 5/31/2026 because of the following key factors:
1. Continued Operating Losses and Significant Cash Burn.
Tactical Resources, a mineral exploration and development company, reported an Earnings Per Share (EPS) of -0.09 for its fiscal Q3 2026, which ended April 30, 2026, indicating ongoing unprofitability. Further, the company exhibited a negative Levered Free Cash Flow (YoY) of -68.37% and a Return on Assets of -332.26%, signaling substantial cash consumption and inefficient asset utilization. For a development-stage company, consistent financial losses without a clear path to profitability or significant revenue generation can severely undermine investor confidence and valuation.
2. Market Re-evaluation Post-Share Consolidation and Nasdaq Listing.
Tactical Resources completed a 4-for-1 share consolidation and commenced trading on the Nasdaq Capital Market under the ticker symbol "TREO" on August 20, 2026. While the Nasdaq listing was intended to enhance visibility and attract more capital, such major corporate restructuring, especially following a SPAC transaction, often leads to a market re-evaluation. If the pre-consolidation valuation was perceived as inflated, or if initial investor enthusiasm for the Nasdaq listing waned, this event could have triggered substantial selling pressure as investors adjusted their expectations and assessed the company's valuation against its financial performance and project progress.
3. Absence of Significant New Positive Developments for the Peak Project.
As a company focused on rare earth elements (REE) development, Tactical Resources' stock performance is heavily tied to the progress and potential of its flagship Peak Project in Texas. Despite the Nasdaq listing being aimed at accelerating the project's development, news from May 31, 2026, to September 17, 2026, did not feature any major new operational milestones, significant resource upgrades, or definitive off-take agreements. The lack of new concrete positive updates, coupled with ongoing losses and the absence of analyst coverage or revenue forecasts, likely contributed to investor uncertainty and a decline in the stock's value as confidence in the project's timeline or economic viability may have diminished.
Show less
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Stock Movement Drivers
Fundamental Drivers
The -80.4% change in TREO stock from 5/31/2026 to 9/20/2026 was primarily driven by a -6.8% change in the company's Shares Outstanding (Mil).| (LTM values as of) | 5312026 | 9202026 | Change |
|---|---|---|---|
| Stock Price ($) | 20.44 | 4.01 | -80.4% |
| 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
5/31/2026 to 9/20/2026| Return | Correlation | |
|---|---|---|
| TREO | -80.4% | |
| Market (SPY) | 0.9% | 8.2% |
| Sector (XLB) | -2.3% | 2.2% |
Fundamental Drivers
The -77.0% change in TREO stock from 2/28/2026 to 9/20/2026 was primarily driven by a -13.1% change in the company's Shares Outstanding (Mil).| (LTM values as of) | 2282026 | 9202026 | Change |
|---|---|---|---|
| Stock Price ($) | 17.45 | 4.01 | -77.0% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 0 | 0 | 0.0% |
| P/S Multiple | ∞ | ∞ | 0.0% |
| Shares Outstanding (Mil) | 2 | 2 | -13.1% |
| Cumulative Contribution | 0.0% |
Market Drivers
2/28/2026 to 9/20/2026| Return | Correlation | |
|---|---|---|
| TREO | -77.0% | |
| Market (SPY) | 11.6% | 11.2% |
| Sector (XLB) | -6.0% | 6.5% |
Fundamental Drivers
The -64.4% change in TREO stock from 8/31/2025 to 9/20/2026 was primarily driven by a -14.3% change in the company's Shares Outstanding (Mil).| (LTM values as of) | 8312025 | 9202026 | Change |
|---|---|---|---|
| Stock Price ($) | 11.26 | 4.01 | -64.4% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 0 | 0 | 0.0% |
| P/S Multiple | ∞ | ∞ | 0.0% |
| Shares Outstanding (Mil) | 2 | 2 | -14.3% |
| Cumulative Contribution | 0.0% |
Market Drivers
8/31/2025 to 9/20/2026| Return | Correlation | |
|---|---|---|
| TREO | -64.4% | |
| Market (SPY) | 19.4% | 13.1% |
| Sector (XLB) | 9.9% | 5.4% |
Fundamental Drivers
The 17.9% change in TREO stock from 8/31/2023 to 9/20/2026 was primarily driven by a 0.0% change in the company's Total Revenues ($ Mil).| (LTM values as of) | 8312023 | 9202026 | Change |
|---|---|---|---|
| Stock Price ($) | 3.40 | 4.01 | 17.9% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 0 | 0 | 0.0% |
| P/S Multiple | ∞ | ∞ | 0.0% |
| Shares Outstanding (Mil) | 2 | 2 | -14.3% |
| Cumulative Contribution | 0.0% |
Market Drivers
8/31/2023 to 9/20/2026| Return | Correlation | |
|---|---|---|
| TREO | 17.9% | |
| Market (SPY) | 75.6% | 2.7% |
| Sector (XLB) | 27.3% | -2.8% |
Price Returns Compared
| 2021 | 2022 | 2023 | 2024 | 2025 | 2026 | Total [1] | |
|---|---|---|---|---|---|---|---|
| Returns | |||||||
| TREO Return | - | -65% | -36% | -32% | 3891% | -80% | 23% |
| Peers Return | 30% | -16% | -8% | -25% | 10121% | -12% | 6645% |
| S&P 500 Return | 27% | -19% | 24% | 23% | 16% | 12% | 103% |
Monthly Win Rates [3] | |||||||
| TREO Win Rate | - | 29% | 58% | 58% | 67% | 44% | |
| Peers Win Rate | 27% | 25% | 29% | 33% | 65% | 37% | |
| S&P 500 Win Rate | 75% | 42% | 67% | 75% | 67% | 44% | |
Max Drawdowns [4] | |||||||
| TREO Max Drawdown | - | - | -93% | -94% | -60% | -86% | |
| Peers Max Drawdown | -22% | -29% | -39% | -39% | -56% | -55% | |
| 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 9/18/2026 (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
6%
of 32 industry peers · -62.5% return
3Y
70%
of 27 industry peers · 186.0% 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 | 75.0% | 96.2% | 327.4% | COPR 973% · HBM 411% · TGB 399% |
| Steel | 13 | 14.3% | 39.3% | 178.1% | HCC 346% · STLD 339% · NWPX 331% |
| Silver | 6 | 108.5% | 344.0% | 169.4% | AYA 319% · HL 254% · SVM 202% |
| Gold | 34 | 24.3% | 211.0% | 160.9% | IAG 821% · KGC 458% · CNL 440% |
| Aluminum | 3 | 41.5% | 128.9% | 71.3% | CENX 220% · KALU 71% · AA 3% |
| Construction Materials | 7 | -22.9% | 22.2% | 47.0% | USLM 375% · CRH 84% · SMID 61% |
| Diversified Metals & Mining ← | 23 | -19.9% | -2.4% | 25.3% | ATLX 207043% · USAR 51477% · TII 778% |
| Metal, Glass & Plastic Containers | 11 | -8.7% | 5.9% | 1.7% | KRT 183% · MYE 83% · GEF 60% |
| Paper & Plastic Packaging Products & Materials | 7 | 6.5% | 8.4% | -8.0% | PKG 95% · CCK 11% · SON -1% |
| Specialty Chemicals | 41 | 6.9% | 2.8% | -8.5% | ODC 471% · NEU 202% · CMT 106% |
| Diversified Chemicals | 4 | -5.8% | -29.6% | -25.8% | CBT 79% · ASH -14% · CC -37% |
| Precious Metals & Minerals | 8 | 28.9% | 175.6% | -26.4% | ASM 697% · PPTA 371% · MTA 44% |
| Commodity Chemicals | 12 | 9.9% | -11.8% | -27.0% | HWKN 285% · KOP 60% · MEOH 57% |
| Fertilizers & Agricultural Chemicals | 10 | -11.2% | -5.5% | -35.4% | CF 189% · CTVA 106% · NTR 47% |
| Paper Products | 3 | -24.0% | -51.0% | -95.7% | CLW -40% · ITP -96% · MERC -96% |
Median of constituents with a full price history over each window. Top names are unfiltered by size in this render.
Research & Analysis
Invest in Strategies
Wealth Management
Peer Comparisons
| Peers to compare with: |
Financials
| Median | |
|---|---|
| Name | |
| Mkt Price | 11.51 |
| Mkt Cap | 1.7 |
| Rev LTM | 7 |
| Op Inc LTM | -59 |
| FCF LTM | -78 |
| FCF 3Y Avg | -94 |
| CFO LTM | -40 |
| 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 | -56.8% |
| 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 | $4.01 | |
| Market Cap ($ Bil) | 0.0 | |
| Distance from 52W High | -86.5% | |
| 50 Days | 200 Days | |
| DMA Price | $16.65 | $18.48 |
| DMA Trend | down | down |
| Distance from DMA | -75.9% | -78.3% |
| 3M | 1YR | |
| Volatility | 175.8% | 147.5% |
| Downside Capture | 916.89 | 263.25 |
| Upside Capture | -158.98 | 104.01 |
| Correlation (SPY) | 11.0% | 13.4% |
TREO Betas & Captures as of 8/31/2026
[1] Upside and downside betas calculated using positive and negative benchmark daily returns respectively
| 1M | 2M | 3M | 6M | 1Y | 3Y | |
|---|---|---|---|---|---|---|
| Beta | 8.75 | 2.11 | 1.07 | 1.41 | 1.50 | 1.23 |
| Up Beta | 2.15 | 0.71 | -1.00 | 1.52 | 1.80 | 0.31 |
| Down Beta | 63.97 | 5.61 | 2.70 | 1.59 | 1.14 | -1.72 |
| Up Capture | -214% | -128% | -49% | 20% | 111% | 250% |
| Bmk +ve Days | 10 | 21 | 32 | 68 | 138 | 427 |
| Stock +ve Days | 6 | 16 | 22 | 45 | 80 | 165 |
| Down Capture | 2076% | 734% | 393% | 236% | 165% | 108% |
| Bmk -ve Days | 11 | 21 | 32 | 59 | 113 | 324 |
| Stock -ve Days | 9 | 20 | 31 | 52 | 92 | 184 |
[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 | -65.0% | 146.8% | 0.14 | - |
| Sector ETF (XLB) | 11.7% | 17.9% | 0.46 | 5.4% |
| Equity (SPY) | 16.9% | 12.9% | 0.94 | 13.2% |
| Gold (GLD) | 19.1% | 29.3% | 0.60 | 11.0% |
| Commodities (DBC) | 46.3% | 20.6% | 1.73 | -1.8% |
| Real Estate (VNQ) | 4.9% | 13.6% | 0.10 | 0.4% |
| Bitcoin (BTCUSD) | -30.6% | 44.3% | -0.70 | 0.8% |
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 | 4.3% | 619.5% | 1.07 | - |
| Sector ETF (XLB) | 5.5% | 19.1% | 0.18 | -0.0% |
| Equity (SPY) | 12.9% | 17.2% | 0.57 | 3.4% |
| Gold (GLD) | 19.1% | 18.8% | 0.83 | 3.6% |
| Commodities (DBC) | 11.2% | 19.5% | 0.45 | -1.4% |
| Real Estate (VNQ) | 1.1% | 18.8% | -0.05 | 1.7% |
| Bitcoin (BTCUSD) | 12.5% | 52.5% | 0.42 | 0.4% |
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 | 2.1% | 619.5% | 1.07 | - |
| Sector ETF (XLB) | 9.6% | 20.7% | 0.41 | -0.0% |
| Equity (SPY) | 15.1% | 18.0% | 0.72 | 3.4% |
| Gold (GLD) | 12.1% | 16.4% | 0.61 | 3.6% |
| Commodities (DBC) | 8.3% | 18.1% | 0.37 | -1.4% |
| Real Estate (VNQ) | 4.4% | 20.7% | 0.18 | 1.7% |
| Bitcoin (BTCUSD) | 62.6% | 66.2% | 1.02 | 0.4% |
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: 9/20/2026