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Equatorial Resources Limited
(Sydney:EQX)
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Rating:43Neutral
Price Target:
AU$0.15
▼(-23.68% Downside)
Action:Reiterated
Date:09/30/26
The score is primarily constrained by weak financial performance—persistent losses, minimal/volatile revenue, and sustained negative operating/free cash flow—despite the benefit of having no reported debt. Technicals are only mildly supportive (short-term improvement but longer-term downtrend and negative MACD), while valuation is pressured by a negative P/E and no dividend yield data.
Positive Factors
Debt-free balance sheet
The absence of reported debt reduces interest and refinancing pressure, giving Equatorial Resources greater financial flexibility than a similarly loss-making, leveraged company. This provides some capacity to manage downturns or fund future activities without servicing a debt burden.
Negative Factors
Persistent operating losses
Recurring operating and net losses show that the business has not yet established a profitable operating model. Continued losses can erode capital, limit internally funded investment, and make a durable improvement in earnings dependent on a substantial turnaround in operations.
Read all positive and negative factors
Positive Factors
Negative Factors
Debt-free balance sheet
The absence of reported debt reduces interest and refinancing pressure, giving Equatorial Resources greater financial flexibility than a similarly loss-making, leveraged company. This provides some capacity to manage downturns or fund future activities without servicing a debt burden.
Read all positive factors
Equatorial Resources Limited (EQX) vs. iShares MSCI Australia ETF (EWA)
Market Cap
AU$19.72M
Dividend YieldN/A
Average Volume (3M)35.82K
Price to Earnings (P/E)―
Beta (1Y)0.56
Revenue GrowthN/A
EPS Growth77.40%
CountryAU
Employees15
SectorBasic Materials
Sector Strength58
IndustrySteel
Share Statistics
EPS (TTM)-0.05
Shares Outstanding131,445,360
10 Day Avg. Volume8,952
30 Day Avg. Volume35,823
Financial Highlights & Ratios
PEG Ratio0.27
Price to Book (P/B)1.92
Price to Sales (P/S)0.00
P/FCF Ratio-7.85
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)N/A
Revenue Forecast (FY)N/A
Equatorial Resources Limited Business Overview & Revenue Model
Company Description
Equatorial Resources Limited, an Australian company established in 1986 and based in Perth, concentrates its efforts on the discovery and advancement of iron ore deposits located within the Republic of Congo....
Equatorial Resources Limited Financial Statement Overview
Summary
Income Statement
12
Very Negative
Balance Sheet
55
Neutral
Cash Flow
18
Very Negative
| Breakdown | TTM | Jun 2026 | Jun 2025 | Jun 2024 | Jun 2023 | Jun 2022 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 0.00 | 0.00 | 571.25K | 0.00 | 0.00 | 0.00 |
| Gross Profit | 0.00 | 0.00 | 571.25K | 0.00 | 0.00 | 0.00 |
| EBITDA | -1.49M | -1.09M | -696.85K | -726.00K | -1.77M | 138.68K |
| Net Income | -7.22M | -964.49K | -4.25M | -1.76M | -4.19M | -17.26M |
Balance Sheet | ||||||
| Total Assets | 8.15M | 7.13M | 9.66M | 15.90M | 16.69M | 18.50M |
| Cash, Cash Equivalents and Short-Term Investments | 8.07M | 7.09M | 9.60M | 13.82M | 16.66M | 18.45M |
| Total Debt | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Total Liabilities | 2.39M | 142.85K | 190.21K | 1.85M | 2.49M | 297.11K |
| Stockholders Equity | 7.46M | 10.29M | 11.17M | 15.31M | 15.90M | 19.90M |
Cash Flow | ||||||
| Free Cash Flow | -4.55K | -2.51M | -4.22M | -2.83M | -1.79M | -1.51M |
| Operating Cash Flow | -4.55K | -2.51M | -4.22M | -2.83M | -1.79M | -1.51M |
| Investing Cash Flow | 0.00 | 0.00 | 0.00 | -7.62K | 0.00 | 0.00 |
| Financing Cash Flow | 0.00 | 0.00 | 0.00 | -6.43K | 0.00 | 0.00 |
Equatorial Resources Limited Technical Analysis
Positive
0.19
Price Trends
0.15
Positive
0.15
Negative
0.17
Negative
Market Momentum
>-0.01
Negative
56.03
Neutral
50.00
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For AU:EQX, the sentiment is Positive. The current price of 0.19 is above the 20-day moving average (MA) of 0.14, above the 50-day MA of 0.15, and above the 200-day MA of 0.17, indicating a neutral trend. The MACD of >-0.01 indicates Negative momentum. The RSI at 56.03 is Neutral, neither overbought nor oversold. The STOCH value of 50.00 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for AU:EQX.
Equatorial Resources Limited Peers Comparison
UnderperformOutperform
Sector (61)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
69 Neutral | AU$138.88M | -0.27 | -60.80% | 10.00% | 1.83% | -1210.61% | |
61 Neutral | $10.43B | 7.12 | -0.05% | 2.87% | 2.86% | -36.73% | |
56 Neutral | AU$383.64M | -12.65 | -7.06% | 3.51% | -42.65% | 62.24% | |
47 Neutral | AU$27.45M | -10.00 | -123.74% | ― | ― | 82.81% | |
43 Neutral | AU$19.72M | -20.55 | -10.87% | ― | ― | 77.40% | |
43 Neutral | AU$7.56M | -0.07 | -248.65% | ― | ― | -2044.26% | |
26 Underperform | AU$6.34M | 3.23 | 67.39% | ― | ― | ― |
* Basic Materials Sector Average
AU:EQX
Equatorial Resources Limited
0.15
-0.06
-28.57%
AU:GRR
Grange Resources Limited
0.12
-0.11
-47.83%
AU:IRD
Iron Road Ltd
0.01
-0.02
-65.52%
AU:MGX
Mount Gibson Iron Limited
0.33
-0.07
-17.72%
AU:PLG
Pearl Gull Iron Ltd
0.03
0.01
63.16%
AU:M4M
Kogi Iron Ltd.
0.01
0.00
0.00%
Equatorial Resources Limited Corporate Events
Equatorial Resources Releases 2026 Annual Report and Governance Overview
Sep 25, 2026
Equatorial Resources Limited is an Australian-listed company in the resources sector, trading on the ASX under the code EQX. Based in Perth, Western Australia, it maintains a corporate structure typical of exploration and development companies, wi...
Equatorial Resources Files Updated Corporate Governance Statement with ASX
Sep 25, 2026
Equatorial Resources Limited has confirmed that its corporate governance framework for the year to 30 June 2026 aligns with ASX Corporate Governance Council principles and recommendations, with a board-approved governance statement accessible via ...
Equatorial Resources Sets AGM Date and Deadline for Director Nominations
Sep 23, 2026
Equatorial Resources Limited has scheduled its Annual General Meeting for 18 November 2026, in line with ASX Listing Rule 3.13.1, with the agenda to include the re-election of directors. The company has set 30 September 2026 as the deadline for sh...
Equatorial Resources Nears Congo Arbitration Award While Bolstering Cash and Legal Strategy
Jul 29, 2026
Equatorial Resources has completed all post-hearing submissions in its ICSID arbitration against the Republic of Congo over alleged unlawful expropriation of its Badondo and Mayoko-Moussondji iron ore investments. The company is seeking substantia...
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.