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DevEx Resources Ltd
(Sydney:DEV)
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Rating:42Neutral
Price Target:
AU$0.16
▼(-39.23% Downside)
Action:Reiterated
Date:10/02/26
The score is held down primarily by weak financial performance (pre-revenue status, widening losses, and ongoing cash burn) and a bearish technical trend (price below all key moving averages with negative MACD). A strong, low-debt balance sheet provides some stability, but does not offset the lack of operating traction or cash flow sustainability.
Positive Factors
Low leverage
Very low debt relative to equity limits near-term solvency pressure and leaves the company less exposed to interest costs or refinancing demands. This balance-sheet flexibility can help DevEx continue exploration and pursue project opportunities while managing the volatility inherent in uranium discovery.
Negative Factors
Pre-revenue business model
The absence of meaningful operating revenue leaves DevEx dependent on exploration success, asset transactions, partnerships, or future capital raising rather than internally generated sales. This makes financial progress less predictable and increases the time required to convert projects into sustainable economic returns.
Read all positive and negative factors
Positive Factors
Negative Factors
Low leverage
Very low debt relative to equity limits near-term solvency pressure and leaves the company less exposed to interest costs or refinancing demands. This balance-sheet flexibility can help DevEx continue exploration and pursue project opportunities while managing the volatility inherent in uranium discovery.
Read all positive factors
DevEx Resources Ltd (DEV) vs. iShares MSCI Australia ETF (EWA)
Market Cap
AU$117.20M
Dividend YieldN/A
Average Volume (3M)1.36M
Price to Earnings (P/E)―
Beta (1Y)1.86
Revenue GrowthN/A
EPS Growth-54.37%
CountryAU
Employees6
SectorBasic Materials
Sector Strength58
IndustryUranium
Share Statistics
EPS (TTM)-0.03
Shares Outstanding710,330,440
10 Day Avg. Volume2,081,833
30 Day Avg. Volume1,357,313
Financial Highlights & Ratios
PEG Ratio-0.14
Price to Book (P/B)4.11
Price to Sales (P/S)0.00
P/FCF Ratio-16.35
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price Target
AU$5.45Price Target Upside1994.23% Upside
Rating ConsensusModerate Buy
Number of Analyst Covering2
EPS Forecast (FY)-0.02
Revenue Forecast (FY)AU$500.00K
DevEx Resources Ltd Business Overview & Revenue Model
Company Description
DevEx Resources Limited, together with its subsidiaries, engages in the exploration and evaluation of mineral properties in Australia. It explores for uranium, copper, nickel, gold, rare earth element, and platinum group element. The company was f...
How the Company Makes Money
DevEx Resources does not typically generate recurring operating revenue like a producer because it is primarily an exploration-stage company. Its economic model is generally based on creating value through mineral discovery and project advancement...
DevEx Resources Ltd Financial Statement Overview
Summary
Income Statement
12
Very Negative
Balance Sheet
72
Positive
Cash Flow
28
Negative
| Breakdown | Jun 2026 | Jun 2025 | Jun 2024 | Jun 2023 | Jun 2022 |
|---|---|---|---|---|---|
Income Statement | |||||
| Total Revenue | 0.00 | 355.32K | 100.00K | 14.17K | 0.00 |
| Gross Profit | -377.32K | 355.32K | 100.00K | -294.00K | -376.00K |
| EBITDA | -18.46M | -9.30M | -9.90M | -12.61M | -11.51M |
| Net Income | -18.19M | -9.11M | -10.79M | -12.94M | -11.91M |
Balance Sheet | |||||
| Total Assets | 38.05M | 16.07M | 26.31M | 15.92M | 11.29M |
| Cash, Cash Equivalents and Short-Term Investments | 27.17M | 7.12M | 16.77M | 12.67M | 7.87M |
| Total Debt | 153.03K | 147.29K | 262.23K | 366.66K | 435.70K |
| Total Liabilities | 3.19M | 2.31M | 3.43M | 3.46M | 3.20M |
| Stockholders Equity | 34.86M | 13.75M | 22.88M | 12.46M | 8.08M |
Cash Flow | |||||
| Free Cash Flow | -8.76M | -9.39M | -15.12M | -12.14M | -9.32M |
| Operating Cash Flow | -8.56M | -9.34M | -14.84M | -12.02M | -9.24M |
| Investing Cash Flow | -7.37M | -121.19K | -656.83K | -116.32K | -188.28K |
| Financing Cash Flow | 35.98M | -189.39K | 19.59M | 16.94M | 723.19K |
DevEx Resources Ltd Technical Analysis
Negative
0.26
Price Trends
0.22
Negative
0.23
Negative
0.21
Negative
Market Momentum
-0.01
Positive
30.51
Neutral
19.05
Positive
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For AU:DEV, the sentiment is Negative. The current price of 0.26 is above the 20-day moving average (MA) of 0.20, above the 50-day MA of 0.22, and above the 200-day MA of 0.21, indicating a bearish trend. The MACD of -0.01 indicates Positive momentum. The RSI at 30.51 is Neutral, neither overbought nor oversold. The STOCH value of 19.05 is Positive, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for AU:DEV.
DevEx Resources Ltd 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% | |
49 Neutral | AU$269.17M | -38.08 | -4.08% | ― | ― | -76.87% | |
49 Neutral | AU$140.04M | 560.00 | 0.50% | ― | ― | -57.14% | |
44 Neutral | AU$86.79M | -5.63 | -19.42% | ― | ― | -330.91% | |
44 Neutral | AU$132.84M | -6.03 | -42.02% | ― | 89.07% | -4.10% | |
42 Neutral | AU$117.20M | -5.35 | -55.68% | ― | ― | -54.37% | |
42 Neutral | AU$108.68M | -21.88 | -36.73% | ― | ― | 9.86% |
* Basic Materials Sector Average
AU:DEV
DevEx Resources Ltd
0.17
0.05
36.00%
AU:ARL
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0.40
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-35.48%
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Talga Group
0.25
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-43.02%
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Quantum Graphite Ltd
0.28
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-41.67%
AU:GL1
Global Lithium Resources Ltd.
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191.18%
AU:RNU
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0.06
>-0.01
-12.50%
DevEx Resources Ltd Corporate Events
DevEx Resources lodges 2026 ASX corporate governance statement
Sep 29, 2026
DevEx Resources Limited has lodged its annual corporate governance statement for the year ended 30 June 2026 with the ASX, confirming that the statement is current as at 29 September 2026 and available on its website. The filing includes an Append...
DevEx Resources Releases 2026 Annual Report Detailing Mineral Assets and Financials
Sep 29, 2026
DevEx Resources Limited has released its Annual Report for the year ended 31 December 2025, outlining governance, financial performance, and operational details. The report includes directors’ commentary, audited financial statements, disclo...
DevEx Secures Tin Camp Creek Access as Escrow Funds Released to Alligator Energy
Sep 27, 2026
DevEx Resources has renewed the exploration access agreement covering exploration licences 24921 and 24922, which form part of its Tin Camp Creek tenements in the Northern Territory. The licences were acquired as part of a $7.5 million deal with A...
DevEx Resources reinforces uranium ambitions with Nabarlek exploration pipeline
Sep 16, 2026
DevEx Resources Ltd is an Australian uranium exploration company listed on the ASX as DEV, centred on the Nabarlek Uranium Project in the Northern Territory. It is building a district-scale pipeline of uranium prospects through sustained drilling ...
DevEx Resources Reports Lapse of 1.5 Million Options
Sep 8, 2026
DevEx Resources has notified the market of the cessation of 1,500,000 DEVAJ options, which expired on 7 September 2026 after the conditional rights attached to them were not, or could no longer be, satisfied. The lapse of these options reduces the...
DevEx Resources Positions Nabarlek as Emerging District-Scale Uranium Hub
Sep 2, 2026
DevEx Resources has released a presentation positioning itself as a new force in uranium exploration, anchored by its Nabarlek Uranium Project in Australia’s Northern Territory. The release collates a series of ASX announcements detailing si...
DevEx Steps Up Uranium Hunt at Nabarlek with Multi-Year Exploration Campaign
Aug 26, 2026
DevEx Resources has completed the first month of its 2026 dry-season exploration campaign at the Nabarlek Uranium Project, marking the initial phase of a multi-year, target-rich uranium discovery strategy. The company is applying an unconformity-s...
DevEx ramps up Nabarlek drilling as landholding and funding base grow
Jul 30, 2026
DevEx Resources has sharpened its district-scale exploration push at the Nabarlek Uranium Project, confirming four drill-ready targets for its 2026 campaign and initiating a 15,000m RC and diamond drilling program. The company has also expanded it...
DevEx Issues Shares on Conversion of Performance Rights, Confirms Regulatory Compliance
Jul 9, 2026
DevEx Resources has issued 250,000 fully paid ordinary shares following the conversion of an equivalent number of vested performance rights, as previously flagged in an Appendix 2A filing. The company has confirmed that the share issue was conduct...
DevEx Seeks ASX Quotation for 250,000 New Ordinary Shares
Jul 9, 2026
DevEx Resources Limited has applied for quotation on the ASX of 250,000 new ordinary fully paid shares, with an issue date of 8 July 2026. The additional securities arise from the exercise or conversion of existing options or other convertible sec...
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.