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Barton Gold Holdings Limited
(Sydney:BGD)
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Rating:48Neutral
Price Target:
AU$0.86
▼(-17.69% Downside)
Action:Reiterated
Date:10/01/26
The score is held back primarily by weak financial performance: unstable revenue, widening losses, and accelerating cash burn. Technicals are mixed-to-neutral (neutral RSI and slight positive MACD, but below the 20-day average), providing limited support. Valuation is also constrained by a negative P/E tied to unprofitability and no stated dividend yield.
Positive Factors
Very low leverage
A near debt-free balance sheet reduces solvency and refinancing pressure while preserving flexibility to fund exploration, studies, and development. This conservative capital structure gives Barton more capacity to manage volatility in project timing and commodity-linked outcomes over the next several quarters.
Negative Factors
Revenue instability
The sharp reversal from meaningful 2025 revenue to zero in 2026 shows that Barton has not established a dependable operating revenue stream. Such volatility makes internal funding less predictable and increases dependence on successful project milestones or external capital.
Read all positive and negative factors
Positive Factors
Negative Factors
Very low leverage
A near debt-free balance sheet reduces solvency and refinancing pressure while preserving flexibility to fund exploration, studies, and development. This conservative capital structure gives Barton more capacity to manage volatility in project timing and commodity-linked outcomes over the next several quarters.
Read all positive factors
Barton Gold Holdings Limited (BGD) vs. iShares MSCI Australia ETF (EWA)
Market Cap
AU$229.76M
Dividend YieldN/A
Average Volume (3M)268.06K
Price to Earnings (P/E)―
Beta (1Y)1.69
Revenue Growth-100.00%
EPS Growth-1011.90%
CountryAU
Employees19
SectorBasic Materials
Sector Strength58
IndustryGold
Share Statistics
EPS (TTM)-0.09
Shares Outstanding271,903,050
10 Day Avg. Volume194,861
30 Day Avg. Volume268,059
Financial Highlights & Ratios
PEG Ratio>-0.01
Price to Book (P/B)5.75
Price to Sales (P/S)0.00
P/FCF Ratio-11.11
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price Target
AU$2.05Price Target Upside97.12% Upside
Rating ConsensusModerate Buy
Number of Analyst Covering1
EPS Forecast (FY)-0.03
Revenue Forecast (FY)AU$13.92M
Barton Gold Holdings Limited Business Overview & Revenue Model
Company Description
Operating within South Australia, Barton Gold Holdings Limited's primary focus is the exploration for gold deposits. The company holds complete 100% ownership of its Challenger, Tarcoola, and Tunkillia projects. Established in 2019, its corporate ...
Barton Gold Holdings Limited Financial Statement Overview
Summary
Income Statement
18
Very Negative
Balance Sheet
74
Positive
Cash Flow
27
Negative
| Breakdown | Jun 2026 | Jun 2025 | Jun 2024 | Jun 2023 | Jun 2022 |
|---|---|---|---|---|---|
Income Statement | |||||
| Total Revenue | 0.00 | 9.26M | 32.00K | 491.00K | 1.00M |
| Gross Profit | -527.00K | 8.81M | -785.00K | -193.00K | 715.00K |
| EBITDA | -23.15M | -946.00K | -8.60M | -4.98M | -3.82M |
| Net Income | -22.41M | -1.84M | -9.40M | -5.68M | -4.11M |
Balance Sheet | |||||
| Total Assets | 53.11M | 23.66M | 25.31M | 25.09M | 25.93M |
| Cash, Cash Equivalents and Short-Term Investments | 31.86M | 2.49M | 10.22M | 10.45M | 11.20M |
| Total Debt | 73.00K | 151.00K | 60.00K | 113.00K | 0.00 |
| Total Liabilities | 19.34M | 14.80M | 18.99M | 16.39M | 15.66M |
| Stockholders Equity | 33.77M | 8.86M | 6.33M | 8.70M | 10.27M |
Cash Flow | |||||
| Free Cash Flow | -17.48M | -4.87M | -6.75M | -5.04M | -4.38M |
| Operating Cash Flow | -17.23M | -4.75M | -6.52M | -4.86M | -4.37M |
| Investing Cash Flow | -481.00K | 582.00K | -23.00K | 550.00K | 676.00K |
| Financing Cash Flow | 40.59M | 2.94M | 6.31M | 3.56M | 0.00 |
Barton Gold Holdings Limited Technical Analysis
Negative
1.04
Price Trends
1.02
Negative
0.90
Negative
0.97
Negative
Market Momentum
-0.05
Positive
35.26
Neutral
16.67
Positive
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For AU:BGD, the sentiment is Negative. The current price of 1.04 is above the 20-day moving average (MA) of 0.93, above the 50-day MA of 1.02, and above the 200-day MA of 0.97, indicating a bearish trend. The MACD of -0.05 indicates Positive momentum. The RSI at 35.26 is Neutral, neither overbought nor oversold. The STOCH value of 16.67 is Positive, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for AU:BGD.
Barton Gold Holdings Limited Peers Comparison
UnderperformOutperform
Sector (61)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
61 Neutral | $10.43B | 7.12 | -0.05% | 2.87% | 2.86% | -36.73% | |
51 Neutral | AU$253.23M | -87.50 | -1.53% | ― | ― | 34.78% | |
48 Neutral | AU$229.76M | -9.05 | -80.60% | ― | -100.00% | -1011.90% | |
47 Neutral | AU$240.74M | -53.26 | -4.59% | ― | ― | -53.33% | |
46 Neutral | AU$172.51M | -32.83 | -20.08% | ― | ― | -21.85% | |
45 Neutral | AU$150.17M | -3.25 | -13.58% | ― | ― | -99.21% | |
41 Neutral | AU$254.58M | -28.42 | -12.57% | ― | ― | 59.02% |
* Basic Materials Sector Average
AU:BGD
Barton Gold Holdings Limited
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Barton Gold Holdings Limited Corporate Events
Barton Gold Director Increases Shareholding as Options Lapse
Oct 20, 2026
Barton Gold Holdings Limited, an Australian gold exploration and development company listed on the ASX, maintains a capital structure comprising fully paid ordinary shares and multiple tranches of unlisted options. Director interests are partly he...
Barton Gold Lists Additional Shares on ASX
Oct 19, 2026
Barton Gold Holdings Limited has applied for quotation of an additional 27,662 ordinary fully paid shares on the ASX under the code BGD, with an issue date of 20 October 2026. The new securities arise from the exercise of options or conversion of ...
Barton Gold Relocates Corporate Headquarters to Central Adelaide
Oct 19, 2026
Barton Gold Holdings Limited has relocated its registered office and principal place of business to Level 22, 30 Pirie Street in central Adelaide, South Australia. The company has also updated its postal address to GPO Box 664, Adelaide SA 5001, r...
Barton Gold’s Tunkillia Drilling Delivers High-Grade Assays Ahead of Resource Upgrade
Oct 6, 2026
Barton Gold has reported final assays from its Phase 2 reverse circulation drilling at the Tunkillia Gold Project, confirming multiple broad, high-grade gold intersections within the planned Starter Pits. These results, derived from nearly 58,000 ...
Barton Gold Corrects Director Interest Notice in Governance Update
Oct 2, 2026
Barton Gold Holdings has issued an amended Change of Director’s Interest Notice to correct an administrative error in the reported number of securities held by a director following a recent change in interest. The correction clarifies the di...
Barton Gold Updates Director Alexander Scanlon’s Securities Holdings
Oct 2, 2026
Barton Gold Holdings Limited has reported a change in director Alexander Scanlon’s interests in the company’s securities, covering both his direct holdings and those held indirectly through entities and his spouse. The disclosure outli...
Barton Gold Streamlines Capital Structure as Lapsed Options Expire
Oct 2, 2026
Barton Gold Holdings Limited has notified the market of the cessation of two tranches of ASX-listed options, BGDAR and BGDAX, following the lapse of conditional rights attached to these securities. A total of 884,485 options expired on 30 Septembe...
Barton Gold Files 2026 Corporate Governance Statement with ASX
Sep 29, 2026
Barton Gold Holdings Limited has lodged its Corporate Governance Statement for the financial year ended 30 June 2026, confirming compliance with ASX Listing Rule requirements. The statement, current as of 29 September 2026, is hosted on the compan...
Barton Gold Sets Out FY26 Corporate Governance Framework
Sep 29, 2026
Barton Gold Holdings Limited has released its FY26 Corporate Governance Statement, affirming its commitment to high standards of governance and accountability to protect shareholder interests. The Board has implemented a comprehensive framework th...
Barton Gold Releases 2026 Annual Report Detailing Governance and Resources
Sep 29, 2026
Barton Gold Holdings Limited has released its annual report for the year ended 30 June 2026, detailing its corporate governance structure, financial statements, mineral resource information, and risk disclosures. The report outlines the compositio...
Barton Gold underscores informational and legal limits of new investor document
Sep 22, 2026
Barton Gold Holdings has released an investor-focused document tied to its participation in the Beaver Creek Precious Metals Conference, outlining its position as a South Australian gold developer with a 2.25 million-ounce resource base. The compa...
Barton Gold assays point to new high-grade zone at Tunkillia
Sep 15, 2026
Barton Gold has reported further high-grade assay results from its 39,000 metre Phase 2 reverse circulation drilling program at the Tunkillia Gold Project, confirming a new shallow zone of mineralisation within the central ‘Starter Pit’...
Barton Gold Wins Key Environmental Approval for Tunkillia Project
Sep 7, 2026
Barton Gold Holdings has secured approval of the Environmental Scoping Report for its Tunkillia Gold Project in South Australia, marking the first formal step in the mining lease and broader development approvals process. The report now serves as ...
Barton Gold Director Restructures Shareholdings Without Changing Exposure
Aug 27, 2026
Barton Gold Holdings has reported a change in the interests of director Kenneth Williams, involving an internal transfer of 32,765 fully paid ordinary shares from his direct holding to an indirect holding via a custodian for a superannuation fund ...
Barton Gold Issues New Unquoted Options Under Employee Incentive Scheme
Aug 21, 2026
Barton Gold Holdings Limited has notified the market of the issue of 34,965 unquoted options under its employee incentive scheme, with these options expiring on 10 December 2028 and carrying no exercise price. The move reinforces the company’...
Barton Gold Director Adjusts Equity Holdings via Option Exercise
Aug 18, 2026
Barton Gold Holdings Limited has reported a change in the interests of director Alexander Scanlon, reflecting the exercise of unquoted options and a corresponding adjustment in his holdings of fully paid ordinary shares. The transaction involved t...
Barton Gold Adds 299,535 New Shares to ASX Listing
Aug 18, 2026
Barton Gold Holdings Limited has applied for quotation on the ASX of 299,535 additional ordinary fully paid shares under its existing BGD issuer code. The new securities, resulting from the exercise or conversion of existing options or other conve...
Barton Gold Extends High-Grade Tolmer Silver Discovery in South Australia
Aug 17, 2026
Barton Gold has reported numerous new high-grade silver and gold assays from a 3,677m reverse circulation drilling program at its Tolmer silver discovery within the Tarcoola Gold Project in South Australia. The results infill the shallow ‘we...
Barton Gold Completes Major Tunkillia Drilling Phase as Pre-Feasibility Study Begins
Aug 5, 2026
Barton Gold Holdings has completed Phase 2 resource upgrade drilling at its Tunkillia Gold Project in South Australia, adding to an intensive 57,653 metres across 520 holes over Phases 1 and 2. The program is aimed at upgrading mineralisation with...
Barton Gold Advances Tunkillia Drilling and PFS on Higher-Grade Assays
Jul 29, 2026
Barton Gold has reported further assay results from its Phase 2 reverse circulation resource upgrade drilling at the Tunkillia Gold Project, infilling Area 223 North and the southern portion of the main Area 223 optimised open pits. The latest ass...
Barton Gold outlines South Australian Tarcoola project in caution-laden briefing
Jul 28, 2026
Barton Gold has released a conference presentation dated 29 July 2026 outlining its Tarcoola Project and Perseverance Mine, framing the company as a 2.25 million-ounce South Australian gold developer. The document is primarily a high-level, inform...
Barton Gold posts cash outflow but boosts liquidity through equity raise
Jul 27, 2026
Barton Gold Holdings Limited reported a net operating cash outflow of A$6.7 million for the June 2026 quarter and A$17.2 million for the year, driven by significant exploration, evaluation, and corporate expenditures. Modest interest income and pr...
Barton Gold Advances SA Projects With High-Grade Drilling and Fresh Funding
Jul 27, 2026
Barton reported strong June quarter drilling results across its South Australian gold portfolio, including high-grade mineralisation at the Challenger project and resource growth potential at Tunkillia. The company is progressing a Definitive Feas...
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.