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Comet Ridge Ltd
(Sydney:COI)
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Rating:43Neutral
Price Target:
AU$0.06
â–¼(-30.00% Downside)
Action:Reiterated
Date:10/16/26
The score is primarily held back by weak financial performance (ongoing losses and negative operating/free cash flow) and a bearish technical setup (price below all major moving averages with negative MACD). A stronger balance sheet and low leverage provide some support, but valuation is still challenged by negative earnings and no dividend yield data.
Positive Factors
Low leverage and equity base
Low leverage and a substantial equity base provide Comet Ridge with greater financial flexibility than a highly indebted exploration company. This can support continued technical work and development planning while reducing balance-sheet pressure during the period before gas projects generate commercial returns.
Negative Factors
Persistent unprofitability
Recurring losses show that Comet Ridge has not yet established a profitable operating model. The wider 2026 loss, despite earlier improvement, reduces confidence in near-term earnings sustainability and means future value depends heavily on successful project progression and eventual gas commercialization.
Read all positive and negative factors
Positive Factors
Negative Factors
Low leverage and equity base
Low leverage and a substantial equity base provide Comet Ridge with greater financial flexibility than a highly indebted exploration company. This can support continued technical work and development planning while reducing balance-sheet pressure during the period before gas projects generate commercial returns.
Read all positive factors
Comet Ridge Ltd (COI) vs. iShares MSCI Australia ETF (EWA)
Market Cap
AU$117.53M
Dividend YieldN/A
Average Volume (3M)2.03M
Price to Earnings (P/E)―
Beta (1Y)0.66
Revenue GrowthN/A
EPS Growth-76.19%
CountryAU
Employees1,123
SectorEnergy
Sector Strength52
IndustryOil & Gas Exploration & Production
Share Statistics
EPS (TTM)>-0.01
Shares Outstanding1,679,009,000
10 Day Avg. Volume2,445,135
30 Day Avg. Volume2,028,492
Financial Highlights & Ratios
PEG Ratio-1.58
Price to Book (P/B)1.05
Price to Sales (P/S)0.00
P/FCF Ratio-31.19
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price TargetN/A
Price Target UpsideN/A
Rating ConsensusN/A
Number of Analyst Covering0
EPS Forecast (FY)>-0.01
Revenue Forecast (FY)N/A
Comet Ridge Ltd Business Overview & Revenue Model
Company Description
Comet Ridge Limited engages in the oil and gas exploration, appraisal, and development activities in Australia. The company’s flagship property is the Mahalo Gas Hub which consists of 2 reserves and 2 contingent resources of 676 petajoules located...
Comet Ridge Ltd Financial Statement Overview
Summary
Income Statement
18
Very Negative
Balance Sheet
67
Positive
Cash Flow
22
Negative
| Breakdown | Jun 2026 | Jun 2025 | Jun 2024 | Jun 2023 | Jun 2022 |
|---|---|---|---|---|---|
Income Statement | |||||
| Total Revenue | 0.00 | 2.79M | 0.00 | 0.00 | 0.00 |
| Gross Profit | -280.00K | 2.79M | -198.00K | -124.00K | -71.00K |
| EBITDA | -2.35M | -39.00K | -4.92M | -3.52M | -7.45M |
| Net Income | -4.37M | -2.47M | -7.17M | -6.57M | -8.63M |
Balance Sheet | |||||
| Total Assets | 149.92M | 125.00M | 120.30M | 111.36M | 109.36M |
| Cash, Cash Equivalents and Short-Term Investments | 28.25M | 13.30M | 16.78M | 11.65M | 8.00M |
| Total Debt | 7.93M | 6.95M | 7.44M | 7.21M | 19.44M |
| Total Liabilities | 44.94M | 44.68M | 47.80M | 47.05M | 61.81M |
| Stockholders Equity | 104.97M | 80.32M | 72.51M | 64.31M | 47.55M |
Cash Flow | |||||
| Free Cash Flow | -3.53M | -20.43M | -8.94M | -9.20M | -11.69M |
| Operating Cash Flow | -3.52M | -4.12M | -4.22M | -3.80M | -3.36M |
| Investing Cash Flow | -10.92M | -10.61M | -4.63M | -6.54M | -20.33M |
| Financing Cash Flow | 28.91M | 11.25M | 13.97M | 14.62M | 27.72M |
Comet Ridge Ltd Technical Analysis
Negative
0.09
Price Trends
0.08
Negative
0.09
Negative
0.11
Negative
Market Momentum
>-0.01
Negative
42.74
Neutral
66.67
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For AU:COI, the sentiment is Negative. The current price of 0.09 is above the 20-day moving average (MA) of 0.07, above the 50-day MA of 0.08, and below the 200-day MA of 0.11, indicating a bearish trend. The MACD of >-0.01 indicates Negative momentum. The RSI at 42.74 is Neutral, neither overbought nor oversold. The STOCH value of 66.67 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for AU:COI.
Comet Ridge Ltd Peers Comparison
UnderperformOutperform
Sector (65)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
65 Neutral | $15.17B | 7.61 | 4.09% | 5.20% | 3.87% | -62.32% | |
65 Neutral | AU$73.83M | 16.94 | 7.48% | 4.76% | -8.38% | -31.11% | |
52 Neutral | AU$38.39M | -7.73 | -13.43% | ― | 2.57% | -163.46% | |
49 Neutral | AU$1.56B | -94.43 | -1.57% | ― | ― | 51.03% | |
46 Neutral | AU$19.70M | -3.22 | -23.11% | ― | ― | 71.52% | |
43 Neutral | AU$117.53M | -18.65 | -4.77% | ― | ― | -76.19% | |
43 Neutral | AU$361.93M | -15.86 | -9.91% | ― | ― | 28.92% |
* Energy Sector Average
AU:COI
Comet Ridge Ltd
0.07
-0.06
-46.15%
AU:BRU
Buru Energy
0.01
>-0.01
-22.22%
AU:CUE
Cue Energy Resources Limited
0.11
0.00
0.00%
AU:BTL
Empire Energy Group Limited
0.24
-0.04
-15.79%
AU:CTP
Central Petroleum Limited
0.05
-0.01
-21.54%
AU:TBN
Tamboran Resources Limited
0.22
0.03
15.18%
Comet Ridge Ltd Corporate Events
Comet Ridge Sets AGM Date and Opens Board Nominations
Oct 2, 2026
Comet Ridge Limited has scheduled its Annual General Meeting for 11:00am Brisbane time on Tuesday, 24 November 2026, covering the financial year ended 30 June 2026. The company will circulate a Notice of Meeting to shareholders early next month an...
Comet Ridge Files Updated Corporate Governance Statement and Appendix 4G
Sep 24, 2026
Comet Ridge Limited has lodged its updated corporate governance statement for the year ended 30 June 2026, confirming compliance with ASX Listing Rules and the ASX Corporate Governance Council’s principles. The statement, current as at 23 Se...
Comet Ridge Releases Comprehensive 2026 Annual Report
Sep 24, 2026
Comet Ridge Limited has released its 2026 annual report, outlining an overview of activities, a joint letter from the chairman and managing director, and a 2024 annual reserves statement alongside its full audited financials. The report also detai...
Comet Ridge underscores risk as it touts east coast gas position
Sep 16, 2026
Comet Ridge has presented itself to investors as a compelling east coast gas play, following its move to hold 100% ownership of the Mahalo Gas Hub. The company’s latest investor presentation, delivered at recent gas industry events, outlines...
Comet Ridge boosts Mahalo gas stake with Santos share-funded deal
Aug 24, 2026
Comet Ridge Limited has completed the acquisition of Santos QNT Pty Ltd’s 42.86% interest in the Mahalo joint venture, significantly increasing its stake in the Queensland coal seam gas project. As part of the revised acquisition terms, Sant...
Comet Ridge Seeks ASX Quotation for 83.8 Million New Shares
Aug 24, 2026
Comet Ridge Ltd has applied to the ASX for quotation of 83,782,550 new ordinary fully paid shares, with an issue date of August 21, 2026. The application, lodged as an Appendix 2A, formalises the move to have these previously announced securities ...
Regal Partners Sells Down Stake, Ceases as Substantial Holder in Comet Ridge
Aug 17, 2026
Regal Partners Funds Management Pty Limited and its associated entities have ceased to be substantial shareholders in Comet Ridge Ltd, according to a notice filed under Section 671B of the Corporations Act. The change follows a series of on-market...
Comet Ridge Director Boosts Stake via Approved Share Placement
Aug 17, 2026
Comet Ridge director James Martin Riley has increased his direct holding in the company by participating in a recent share placement, signalling confidence in the company’s capital raising strategy. Riley subscribed for 321,951 ordinary shar...
Comet Ridge Director Increases Stake Through Capital Placement
Aug 17, 2026
Comet Ridge has disclosed a change in director Tor McCaul’s relevant interests following his participation, via associated entities, in a recent capital placement. The transaction saw the acquisition of 673,170 fully paid ordinary shares and...
Comet Ridge Completes Tranche 2 Placement and Resets Warrant Terms
Aug 13, 2026
Comet Ridge has completed the second tranche of a previously announced $40 million capital raising, issuing 91,824,387 new fully paid ordinary shares at $0.1025 each to institutional and sophisticated investors. The shares, which form Tranche 2 of...
Comet Ridge Issues 195 Million Unquoted Options Under Existing Deal
Aug 13, 2026
Comet Ridge Limited has notified the market of the issue of 195,121,940 unquoted options, exercisable at $0.15 and expiring on 30 June 2028, with an issue date of 13 August 2026. The options, which stem from a previously announced transaction and ...
Comet Ridge Issues New Unquoted Options Expiring in 2028
Aug 13, 2026
Comet Ridge Limited has notified the ASX of the issue of 4,271,927 unquoted options, exercisable at $0.15 and expiring on 30 June 2028, with an issue date of 13 August 2026. The move modestly increases the company’s pool of equity-linked sec...
Comet Ridge Seeks ASX Quotation for 91.8 Million New Shares
Aug 13, 2026
Comet Ridge Limited has applied for quotation on the ASX of 91,824,387 new ordinary fully paid shares, with an issue date of 14 August 2026. The securities are being quoted as part of previously announced transactions, expanding the company’...
Comet Ridge Director McCabe Buys 500,000 Shares on Market
Aug 10, 2026
Comet Ridge Ltd has disclosed a change in director interests, with director Mark Nicholas McCabe purchasing 500,000 ordinary shares on market. The transaction, completed on 10 August 2026 at an average price of $0.0842 per share for a total of abo...
Comet Ridge Wins Strong Shareholder Backing for Capital Raising and Santos Share Issue
Aug 6, 2026
Comet Ridge shareholders have approved all resolutions put to a general meeting on 6 August 2026, with each item passed by poll. The outcome confirms strong investor backing for the company’s capital management plans and its broader strategi...
Comet Ridge Seeks ASX Quotation for 8.5 Million New Shares
Jul 30, 2026
Comet Ridge Ltd has applied for quotation on the ASX of 8,543,861 new ordinary fully paid shares, to be issued on 31 July 2026. The new securities, which arise from previously announced transactions, will expand the company’s listed share ba...
Comet Ridge Raises $40.9m to Lift Stake in Mahalo Gas Project
Jul 29, 2026
Comet Ridge Limited has completed its Share Purchase Plan, offering eligible shareholders up to $30,000 of new shares at $0.1025 each, raising $875,750 and issuing 8,543,861 new shares that commence trading on 31 July 2026. Together with a twoR...
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.