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Bathurst Resources Ltd
(Sydney:BRL)
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Rating:45Neutral
Price Target:
AU$0.40
â–¼(-10.23% Downside)
Action:Reiterated
Date:10/08/26
The score is held down primarily by weak recent financial performance (FY2026 profitability and cash flow turning negative) and a bearish price trend (below key moving averages). A strong, low-debt balance sheet provides some support, but valuation is difficult to interpret due to the negative P/E and no dividend data.
Positive Factors
Conservative leverage
Very low debt relative to equity gives Bathurst substantial financial resilience despite its recent loss. Limited leverage reduces interest and refinancing pressure, preserves borrowing capacity, and leaves more flexibility to sustain operations or fund opportunities through a difficult coal cycle.
Negative Factors
Sharp revenue decline and loss
The latest deterioration shows that Bathurst’s earnings are highly exposed to changes in coal demand, pricing, volumes, or product mix. A sharp revenue contraction followed by a net loss weakens internal funding capacity and makes near-term profitability less dependable.
Read all positive and negative factors
Positive Factors
Negative Factors
Conservative leverage
Very low debt relative to equity gives Bathurst substantial financial resilience despite its recent loss. Limited leverage reduces interest and refinancing pressure, preserves borrowing capacity, and leaves more flexibility to sustain operations or fund opportunities through a difficult coal cycle.
Read all positive factors
Bathurst Resources Ltd (BRL) vs. iShares MSCI Australia ETF (EWA)
Market Cap
AU$94.82M
Dividend Yield2.68%
Average Volume (3M)10.95K
Price to Earnings (P/E)―
Beta (1Y)0.39
Revenue Growth-52.34%
EPS Growth-169.14%
CountryAU
Employees700
SectorBasic Materials
Sector Strength58
IndustryCoal
Share Statistics
EPS (TTM)-0.02
Shares Outstanding240,052,980
10 Day Avg. Volume11,169
30 Day Avg. Volume10,948
Financial Highlights & Ratios
PEG Ratio0.17
Price to Book (P/B)0.41
Price to Sales (P/S)6.67
P/FCF Ratio-59.70
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price Target
AU$0.80Price Target Upside81.82% Upside
Rating ConsensusModerate Buy
Number of Analyst Covering1
EPS Forecast (FY)-0.01
Revenue Forecast (FY)AU$14.60M
Bathurst Resources Ltd Business Overview & Revenue Model
Company Description
Based in New Zealand, Bathurst Resources Limited engages in the prospecting, extraction, development, and international sale of coal. The company, established in 2013 and headquartered in Wellington, adopted its current name, Bathurst Resources Li...
How the Company Makes Money
BRL primarily makes money by selling coal produced from its mining operations. Revenue is generated when mined coal is processed (where applicable) and sold under customer supply arrangements, with earnings driven by (i) sales volumes, (ii) realiz...
Bathurst Resources Ltd Earnings Call Summary
Earnings Call Date:Aug 25, 2024
(Q4-2024)
| Next Earnings Date:Mar 02, 2027
Earnings Call Sentiment Neutral
The earnings call revealed a mix of strong financial stability and future growth potential, overshadowed by recent operational challenges and a reduction in EBITDA. While the company maintains a healthy cash position and has future projects lined up, the significant setbacks in export operations and unmet financial guidance highlight areas of concern.Positive Updates
Strong Cash Position
BRL.AX maintains a strong cash position with $141 million in cash and no real debt, which ensures financial stability and potential for future investments.
Negative Updates
Reduction in EBITDA and Export Pricing
Significant reduction in EBITDA for the full year due to reduced export pricing and tonnage, with a 5% decrease from the previous year.
Read all updates
Q4-2024 Updates
Positive
Negative
Strong Cash Position
BRL.AX maintains a strong cash position with $141 million in cash and no real debt, which ensures financial stability and potential for future investments.
Read all positive updates
Company Guidance
In the Q4 2024 earnings call for BRL.AX, Richard Tacon outlined the company's performance and future guidance, emphasizing various financial and operational metrics. The company reported an EBITDA of $90.5 million for the full year, a decline of approximately 5% from the previous year, primarily due to reduced export pricing and operational disruptions, including a tunnel incident at Reefton. Despite these challenges, the company maintains a strong financial position with $141 million in cash and no significant debt. Looking ahead, BRL.AX anticipates an EBITDA range of $55 million to $65 million for FY '25, factoring in continued challenges with the Reefton tunnel and export pricing. Operationally, the company is focusing on expanding its New Zealand mines and exploring growth opportunities in British Columbia, Canada, while maintaining its commitment to environmental and community responsibilities, particularly with First Nations groups.Bathurst Resources Ltd Financial Statement Overview
Summary
Income Statement
38
Negative
Balance Sheet
78
Positive
Cash Flow
34
Negative
| Breakdown | Jun 2026 | Jun 2025 | Jun 2024 | Jun 2023 | Jun 2022 |
|---|---|---|---|---|---|
Income Statement | |||||
| Total Revenue | 18.00M | 38.52M | 39.69M | 40.20M | 35.81M |
| Gross Profit | 41.44K | 7.19M | 9.21M | 5.50M | 4.76M |
| EBITDA | -3.34M | 3.89M | 41.00M | -324.86K | -4.08M |
| Net Income | -3.97M | 4.12M | 35.28M | 83.14M | 27.51M |
Balance Sheet | |||||
| Total Assets | 309.40M | 353.20M | 315.34M | 274.74M | 189.58M |
| Cash, Cash Equivalents and Short-Term Investments | 10.79M | 33.08M | 7.10M | 11.77M | 4.30M |
| Total Debt | 524.67K | 1.35M | 1.76M | 1.18M | 692.64K |
| Total Liabilities | 18.70M | 22.78M | 23.69M | 14.82M | 15.22M |
| Stockholders Equity | 290.70M | 330.42M | 291.64M | 259.84M | 174.88M |
Cash Flow | |||||
| Free Cash Flow | -2.01M | -4.21M | -8.97M | 8.57M | 4.53M |
| Operating Cash Flow | -1.66M | 4.75M | 4.00M | 12.37M | 7.26M |
| Investing Cash Flow | -17.12M | -10.44M | -15.02M | 6.52M | 4.43M |
| Financing Cash Flow | -714.89K | 31.56M | 594.83K | 387.98K | -2.31M |
Bathurst Resources Ltd Technical Analysis
Negative
0.44
Price Trends
0.43
Negative
0.45
Negative
0.53
Negative
Market Momentum
-0.01
Negative
45.33
Neutral
76.67
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For AU:BRL, the sentiment is Negative. The current price of 0.44 is above the 20-day moving average (MA) of 0.41, above the 50-day MA of 0.43, and below the 200-day MA of 0.53, indicating a bearish trend. The MACD of -0.01 indicates Negative momentum. The RSI at 45.33 is Neutral, neither overbought nor oversold. The STOCH value of 76.67 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for AU:BRL.
Bathurst Resources Ltd Peers Comparison
UnderperformOutperform
Sector (61)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
70 Neutral | AU$2.40B | -41.85 | -2.42% | 4.39% | -6.27% | -1593.02% | |
68 Neutral | AU$7.78B | 26.18 | 3.26% | 3.26% | -1.15% | -69.35% | |
64 Neutral | AU$6.31B | 16.23 | 6.64% | 1.30% | -7.39% | -39.72% | |
62 Neutral | AU$5.07B | 31.07 | 6.17% | 6.55% | 0.19% | -63.33% | |
61 Neutral | $10.43B | 7.12 | -0.05% | 2.87% | 2.86% | -36.73% | |
47 Neutral | AU$285.00M | -0.30 | -135.56% | 2.97% | -7.35% | -115.78% | |
45 Neutral | AU$94.82M | -23.95 | -1.35% | 2.68% | -52.34% | -169.14% |
* Basic Materials Sector Average
AU:BRL
Bathurst Resources Ltd
0.40
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Bathurst Resources Ltd Corporate Events
Bathurst Told to Fix Technical Gaps in Fast-Track Bid for Buller Coal Expansion
Sep 24, 2026
Bathurst Resources Limited and its BT Mining joint venture are advancing the Buller Plateaux Continuation Project, which targets about 20 million tonnes of coking-quality coal from the Stockton and Denniston plateaux on New Zealand’s West Co...
Bathurst Resources Issues FY26 Results Overview With Investor Disclaimers
Sep 2, 2026
Bathurst Resources Limited has released its FY26 results and project updates, presenting consolidated financial information that includes its 100 percent-owned operations and 65 percent equity share of BT Mining Limited. The company emphasises tha...
Bathurst Resources to Host Webcast on FY26 Results and Outlook
Aug 31, 2026
Bathurst Resources has announced it will host a webcast to discuss its financial year 2026 results and provide a business outlook to investors and stakeholders. The online briefing, scheduled for 2 September 2026, will allow participants to submit...
Bathurst Resources Delivers Strong FY26 EBITDA and Advances Long-Life Coal Projects
Aug 26, 2026
Bathurst Resources reported consolidated FY26 EBITDA of $45m, at the top end of its guidance range, despite prolonged weakness in international coal prices in the first half of the year. Stronger hard coking coal prices in the second half, togethe...
Bathurst Resources Lodges 2026 Annual Financial Statements with ASX
Aug 26, 2026
Bathurst Resources Limited has released its financial statements for the year ended 30 June 2026, incorporating the requirements of Appendix 4E and complying with ASX Listing Rule 4.3A. The announcement includes full statutory reporting, such as i...
Bathurst advances Canadian Tenas coal project as updated study lifts project value
Aug 18, 2026
Bathurst Resources has advanced its wholly owned Tenas metallurgical coal project in British Columbia, with the provincial Environmental Assessment Office confirming the project has met information requirements to enter the Effects Assessment and ...
Bathurst Fast-Tracks Approval Bid for 25-Year Buller Coal Project
Aug 17, 2026
Bathurst Resources, together with joint venture partner BT Mining, is advancing the Buller Plateaux Continuation Project on New Zealand’s West Coast, targeting around 20 million tonnes of export-quality coking coal across the Stockton and De...
Bathurst wins consent to extend Maramarua mine life by four years
Aug 4, 2026
Bathurst Resources has secured consents to develop the new M2 pit at its Maramarua coal mine in New Zealand’s Waikato region, with coal production expected to begin in the third quarter of FY27 once customer contracts are confirmed. The proj...
Bathurst Resources Hits Top-End FY26 EBITDA and Pushes Ahead With Long-Life Coal Projects
Jul 30, 2026
Bathurst Resources has reported unaudited consolidated EBITDA of $45 million for FY26, hitting the top end of its guidance range despite prolonged weakness in international coal prices. A late-year rebound in the hard coking coal benchmark, recove...
Bathurst Resources Issues Investor Presentation with Strong Disclaimers
Jul 22, 2026
Bathurst Resources has released an investor presentation for the Noosa Mining Investor Conference outlining high-level information on its operations and reporting framework. The document emphasises that the material is a general summary, prepared ...
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.