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Coda Minerals Ltd (COD) AI Stock Analysis

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AU:COD

Coda Minerals Ltd

(ASX:COD)

Select Model
Rating:43Neutral
Price Target:AUD 0.09â–¼(-3.33% Downside)
Action:reiterated
Date:09/30/26

The score is held down primarily by weak financial performance (pre-revenue, ongoing losses, and higher 2026 cash burn) and bearish technicals (price below all key moving averages with negative MACD). A low-debt balance sheet provides some support, but the negative P/E and lack of dividend underline the elevated risk and uncertain path to profitability.

Positive Factors
Low LeverageVery low debt relative to equity gives Coda greater financial flexibility while it advances exploration and development projects. This reduces balance-sheet pressure from borrowing and leaves more capacity to manage ongoing losses or pursue work programs without relying entirely on leverage.
Negative Factors
Pre-Revenue BusinessCoda has not yet established operating revenue, leaving its financial profile dependent on exploration progress and eventual project development or transaction outcomes. Without recurring sales, near-term profitability and internally generated funding remain uncertain over the next several quarters.

Coda Minerals Ltd (COD) vs. iShares MSCI Australia ETF (EWA)

-25%0%25%50%75%100%125%AU:COD-10.00%EWA+16.39%Dec '25Jan '26Feb '26Mar '26Apr '26May '26Jun '26Jul '26Aug '26Sep '26Oct '26Nov '26
Market Cap
AUD 38.39M
Dividend Yield
―
Average Volume (3M)
404.55K
Price to Earnings (P/E)
-2.7
Beta (1Y)
1.02
Revenue Growth
―
EPS Growth
-113.13%
Country
Australia
Employees
13
Sector
Basic Materials
Sector Strength
61
Industry
Industrial Materials

Coda Minerals Ltd Business Overview & Revenue Model

Company Description

Coda Minerals Limited functions as a mineral exploration company, dedicated to the search, identification, and advancement of deposits across the base metal, precious metal, and battery mineral sectors. The firm possesses full ownership of two signif...

Coda Minerals Ltd Financial Statement Overview

Summary

Financial profile is weak overall: the company is pre-revenue with persistent operating and net losses, and cash burn increased materially in 2026. The main offsetting positive is a conservatively levered balance sheet with low debt and meaningful equity/assets, providing some financial flexibility despite negative returns on equity.

Income Statement

12Very Negative

Balance Sheet

62Positive

Cash Flow

28Negative
Financial statement breakdown
BreakdownTTMJun 2026Jun 2025Jun 2024Jun 2023Jun 2022
Income Statement
Total Revenue000000
Gross Profit-163.59K-163.59K-160.78K-162.87K-162.46K-147.53K
EBITDA-10.98M-10.98M-4.15M-4.49M-7.64M-14.85M
Net Income-10.86M-10.86M-4.29M-4.57M-7.76M-14.21M
Balance Sheet
Total Assets29.51M29.51M22.93M22.24M23.55M27.60M
Cash, Cash Equivalents and Short-Term Investments10.77M10.77M3.96M3.43M4.72M8.18M
Total Debt121.85K121.85K213.87K123.98K7,66898.40K
Total Liabilities1.67M1.67M815.41K646.20K858.91K1.72M
Stockholders Equity27.84M27.84M22.12M21.60M22.70M25.88M
Cash Flow
Free Cash Flow-8.93M-8.93M-3.90M-4.05M-7.52M-14.42M
Operating Cash Flow-8.87M-8.87M-3.88M-4.05M-7.51M-14.33M
Investing Cash Flow-84.41K-84.41K-10.71K-1,817281.69K828.95K
Financing Cash Flow15.76M15.76M4.43M2.76M3.76M-90.83K

Coda Minerals Ltd Technical Analysis

Technical Analysis SentimentNegative
Last Price0.09

Price Trends

50DMA0.11Negative
100DMA0.11Negative
200DMA0.13Negative

Market Momentum

MACD-0.00Positive
RSI42.72Neutral
STOCH24.38Neutral

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For AU:COD, the sentiment is Negative. The current price of 0.09 is below the 20-day moving average (MA) of 0.10, below the 50-day MA of 0.11, and below the 200-day MA of 0.13, indicating a bearish trend. The MACD of -0.00 indicates Positive momentum. The RSI at 42.72 is Neutral, neither overbought nor oversold. The STOCH value of 24.38 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for AU:COD.

Coda Minerals Ltd Peers Comparison

Overall Rating

UnderperformOutperform
Sector (61)

Financial Indicators

AU:COD against its peers
NameOverall RatingMarket CapP/E RatioROEDividend YieldRevenue GrowthEPS Growth
Sector *61Neutral$10.43B7.12-0.05%2.87%2.86%-36.73%
AU:STMAU:STM45NeutralAUD 48.29M-15.35-2.63%――11.63%
AU:AW1AU:AW143NeutralAUD 29.51M-1.66337.06%――50.00%
AU:CODAU:COD43NeutralAUD 39.24M-2.70-38.32%――-113.13%
AU:COBAU:COB41NeutralAUD 28.79M-2.73-24.22%――-28.87%
AU:MTHAU:MTH41NeutralAUD 32.81M-6.13-8.90%―――
AU:BSXAU:BSX38UnderperformAUD 35.83M-2.56-16.19%――46.91%

* Basic Materials Sector Average

Performance Comparison

-50%0%50%100%AU:CODAU:COBAU:STMAU:BSXAU:MTHAU:AW1Dec '25Jan '26Feb '26Mar '26Apr '26May '26Jun '26Jul '26Aug '26Sep '26Oct '26Nov '26
AU:COD and its peers over the selected period
Show on chartTickerCompany NamePriceChange% Change
AU:CODCoda Minerals Ltd0.09-0.01-10.00%
AU:COBCobalt Blue Holdings Ltd.0.05-0.06-54.55%
AU:STMSunstone Metals Limited0.17-0.49-74.20%
AU:BSXBlackstone Minerals Ltd0.02-0.02-50.00%
AU:MTHMithril Resources Ltd0.17-0.32-64.29%
AU:AW1American West Metals Ltd.0.03-0.02-46.00%

Coda Minerals Ltd Corporate Events

Coda Minerals Advances Elizabeth Creek Hydro Studies and Shifts Drill Rig to Oakden Prospect

Oct 27, 2026

Coda Minerals has completed a six-hole hydrogeological drilling program at its Elizabeth Creek project, installing three production and three monitoring bores to support groundwater monitoring for environmental approvals and mine design. The data fro...

Coda Minerals Sets November Date for In-Person AGM and Proxy Voting

Oct 9, 2026

Coda Minerals Ltd has called its Annual General Meeting of shareholders for 11.00am WST on Wednesday, 11 November 2026, at the Park Business Centre in West Perth. The company will provide the Notice of Meeting primarily via electronic access through...

Coda Minerals Confirms Governance Structure in Annual Report

Sep 29, 2026

Coda Minerals Ltd, an ASX-listed mineral exploration company based in West Perth, Western Australia, has confirmed its current corporate structure and governance framework. The board includes a non-executive chairperson, several non-executive directo...

Coda Minerals Files Updated Corporate Governance Statement with ASX

Sep 29, 2026

Coda Minerals Ltd has lodged its corporate governance statement and accompanying Appendix 4G with the ASX for the year ended 30 June 2026, confirming compliance with key ASX Corporate Governance Council recommendations. The statement, current as at 2...

Coda Minerals Confirms Strong Recoveries as Elizabeth Creek PFS Advances

Sep 25, 2026

Coda Minerals has issued an amended version of its September 21 announcement after identifying that metal feed grades in a key table were incorrectly reported as calculated head grades rather than assayed head grades. The correction aligns the table...

Coda Minerals Posts Strong Leach Results in Elizabeth Creek PFS Push

Sep 20, 2026

Coda Minerals has reported strong preliminary metallurgical results from variability testing of its preferred whole-ore chloride leach process at the Elizabeth Creek Copper-Silver Project. Representative Emmie Bluff samples delivered average recoveri...

Coda Minerals issues cautionary investor presentation to sophisticated investors

Sep 9, 2026

Coda Minerals has released an investor presentation intended to provide general information about the company’s activities and outlook to a select audience of sophisticated and institutional investors. The document emphasises that it is not a p...

Coda Minerals Adds Small Parcel of New Shares to ASX Quotation

Sep 8, 2026

Coda Minerals Ltd has applied to the Australian Securities Exchange for quotation of a small parcel of additional ordinary fully paid shares. The company is seeking listing of 4,124 COD securities issued on 7 September 2026, expanding its quoted shar...

Coda Minerals Issues New Shares Under Cleansing Notice

Aug 25, 2026

Coda Minerals has issued 800,000 fully paid ordinary shares at a deemed price of $0.075 per share, with the new equity being placed without a prospectus under the small-scale disclosure provisions of the Corporations Act. The company has confirmed on...

Coda Minerals Issues Shares to Settle Investor Relations Fees

Aug 25, 2026

Coda Minerals Ltd has applied to the Australian Securities Exchange for quotation of 800,000 new ordinary fully paid shares. The shares were issued on 25 August 2026 and will be listed under the company’s existing ASX code COD.The new shares ar...

Coda Minerals Director Keith Jones Increases Equity Stake via Share Placement

Aug 14, 2026

Coda Minerals has disclosed a change in director Keith Jones’s relevant interests in the company’s securities, following a recent shareholder-approved placement. Jones holds his interests indirectly through entities White Silk Pty Ltd as...

Coda Minerals Reports Lapse of Over 3 Million Performance Rights

Aug 14, 2026

Coda Minerals Ltd has reported the lapse of 3,080,680 performance rights that were scheduled to expire on November 13, 2028. The rights ceased on August 13, 2026 after the conditional requirements attached to these securities were not met or became i...

Coda Minerals Raises $2m in Second Tranche of Share and Option Placement

Aug 10, 2026

Coda Minerals has completed the second tranche of a previously announced capital placement, issuing 15,384,617 new fully paid ordinary shares at $0.13 each to raise $2 million before costs, alongside 12,884,616 quoted options exercisable at $0.15 by...

Coda Minerals Issues 7.7 Million Unquoted Options

Aug 10, 2026

Coda Minerals has notified the market of the issue of 7,700,000 unquoted options, exercisable at $0.26 each and expiring three years from the issue date. These options form part of previously announced transactions and are not intended to be quoted o...

Coda Minerals Seeks ASX Quotation for New Shares and Options

Aug 10, 2026

Coda Minerals Ltd has applied to the ASX for quotation of 15,384,617 new fully paid ordinary shares and 12,884,616 options expiring on 28 March 2029, with an issue date of 10 August 2026. The quotation of these securities, previously flagged in an ea...

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.

Date of analysis: Sep 30, 2026