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Horseshoe Metals Limited
(Sydney:HOR)
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Rating:40Underperform
Price Target:
AU$0.01
▼(-53.33% Downside)
Action:Reiterated
Date:10/29/26
The score is driven primarily by very weak financial performance—persistent losses, negative operating/free cash flow, and negative equity with meaningful debt—indicating elevated funding and balance-sheet risk. Technicals add downside pressure with price below all key moving averages and negative MACD. Valuation offers limited support because the company is loss-making (negative P/E) and no dividend yield is available.
Positive Factors
Base and battery metals focus
The company is aligned with base and battery metals, areas that support long-term exploration relevance and potential resource development. Its work spans mapping, geochemical and geophysical surveys, and drilling, providing a defined pathway from prospect generation toward mineral-resource evaluation.
Negative Factors
Persistent unprofitability
Large operating and net losses show that the company has not yet reached a sustainable earnings scale. The 2025 revenue rebound did not translate into improved profitability, leaving exploration progress dependent on future operating improvement or additional financing rather than internally generated earnings.
Read all positive and negative factors
Positive Factors
Negative Factors
Base and battery metals focus
The company is aligned with base and battery metals, areas that support long-term exploration relevance and potential resource development. Its work spans mapping, geochemical and geophysical surveys, and drilling, providing a defined pathway from prospect generation toward mineral-resource evaluation.
Read all positive factors
Horseshoe Metals Limited (HOR) vs. iShares MSCI Australia ETF (EWA)
Market Cap
AU$10.50M
Dividend YieldN/A
Average Volume (3M)317.92K
Price to Earnings (P/E)―
Beta (1Y)-0.14
Revenue GrowthN/A
EPS Growth-200.00%
CountryAU
Employees3
SectorBasic Materials
Sector Strength58
IndustryIndustrial Materials
Share Statistics
EPS (TTM)>-0.01
Shares Outstanding750,009,100
10 Day Avg. Volume327,854
30 Day Avg. Volume317,916
Financial Highlights & Ratios
PEG Ratio-0.21
Price to Book (P/B)-22.34
Price to Sales (P/S)121.34
P/FCF Ratio-26.85
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
Horseshoe Metals Limited Business Overview & Revenue Model
Company Description
Horseshoe Metals Limited is an Australian enterprise dedicated to the exploration and advancement of mineral assets, primarily targeting copper and gold deposits. The company boasts complete ownership of the Horseshoe Lights project, an extensive ...
Horseshoe Metals Limited Financial Statement Overview
Summary
Income Statement
12
Very Negative
Balance Sheet
18
Very Negative
Cash Flow
14
Very Negative
| Breakdown | TTM | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 400.00K | 250.00K | 11.91K | 8.61K | 21.49K | 93.31K |
| Gross Profit | -530.40K | -685.65K | -19.32K | -4.75K | -12.31K | 89.34K |
| EBITDA | -1.21M | -557.59K | -787.71K | -1.18M | -2.26M | -2.13M |
| Net Income | -2.44M | -1.68M | -845.65K | -1.29M | -2.37M | -2.31M |
Balance Sheet | ||||||
| Total Assets | 10.42M | 10.12M | 8.86M | 8.54M | 8.26M | 8.47M |
| Cash, Cash Equivalents and Short-Term Investments | 2.63K | 27.62K | 399.00 | 2.47K | 6.78K | 1.37M |
| Total Debt | 1.85M | 1.70M | 1.19M | 1.69M | 1.59M | 1.64M |
| Total Liabilities | 12.10M | 11.47M | 10.11M | 9.10M | 9.79M | 10.30M |
| Stockholders Equity | -1.67M | -1.36M | -1.25M | -560.53K | -1.53M | -1.84M |
Cash Flow | ||||||
| Free Cash Flow | -743.46K | -1.13M | -166.70K | -1.86M | -3.24M | -955.53K |
| Operating Cash Flow | -167.94K | -546.48K | -166.70K | -1.85M | -3.19M | -955.53K |
| Investing Cash Flow | -691.09K | -583.42K | 0.00 | -727.00 | -47.68K | 0.00 |
| Financing Cash Flow | 655.60K | 1.16M | 164.63K | 1.85M | 1.87M | 2.23M |
Horseshoe Metals Limited Technical Analysis
Negative
0.03
Price Trends
0.02
Negative
0.02
Negative
0.03
Negative
Market Momentum
>-0.01
Positive
33.29
Neutral
6.67
Positive
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For AU:HOR, the sentiment is Negative. The current price of 0.03 is above the 20-day moving average (MA) of 0.02, above the 50-day MA of 0.02, and above the 200-day MA of 0.03, indicating a bearish trend. The MACD of >-0.01 indicates Positive momentum. The RSI at 33.29 is Neutral, neither overbought nor oversold. The STOCH value of 6.67 is Positive, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for AU:HOR.
Horseshoe Metals Limited 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% | |
46 Neutral | AU$13.71M | -3.00 | -42.15% | ― | -11.28% | 41.18% | |
46 Neutral | AU$14.47M | -5.83 | -3.39% | ― | ― | 10.00% | |
45 Neutral | AU$23.65M | -2.97 | -43.52% | 26.19% | ― | 76.51% | |
45 Neutral | AU$12.17M | -11.87 | -5.09% | ― | ― | -33.93% | |
43 Neutral | AU$12.91M | -2.40 | -52.48% | 1.07% | ― | 35.80% | |
40 Underperform | AU$10.50M | -4.24 | 160.96% | ― | ― | -200.00% |
* Basic Materials Sector Average
AU:HOR
Horseshoe Metals Limited
0.01
-0.02
-54.84%
AU:LIT
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0.01
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AU:NMT
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0.03
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-51.79%
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-61.54%
AU:SVY
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0.01
>-0.01
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AU:NC1
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-40.67%
Horseshoe Metals Limited Corporate Events
Horseshoe Metals Advances DSO Work and Site Upgrades at Horseshoe Lights
Oct 7, 2026
Horseshoe Metals has advanced work at its Horseshoe Lights Copper-Gold Project, carrying out direct shipping ore sampling around the C20 stockpile to support grade control and segregation of mixed chalcocite and lower-grade material for a planned ...
Horseshoe Metals Advances DSO Operations at Horseshoe Lights Copper-Gold Project
Oct 1, 2026
Horseshoe Metals Limited has begun handheld XRF grade control work at its Horseshoe Lights Copper-Gold Project in Western Australia to identify and consolidate high-grade direct shipping ore stockpiles. Camp upgrades are underway to bring in extra...
Horseshoe Metals Details Corporate Framework in Half-Year Report
Sep 11, 2026
Horseshoe Metals Limited, an Australian mining and exploration company listed on the ASX under the code HOR, operates from West Perth with a governance framework built around non-executive directors and professional corporate support services. Its...
Horseshoe Metals Starts DSO Operations at Horseshoe Lights Copper-Gold Project
Aug 19, 2026
Horseshoe Metals Limited has commenced direct shipping ore operations at its 100%-owned Horseshoe Lights Copper-Gold Project in Western Australia, marking a key step in returning the under-developed asset to production. The company will progressiv...
Horseshoe Metals Flags Large-Scale Copper Potential at Horseshoe Lights
Aug 11, 2026
Horseshoe Metals Ltd has outlined a substantial exploration target at the Main Zone of its Horseshoe Lights Copper Gold Project in Western Australia, reinforcing the large-scale potential of the deposit. The company’s modelling indicates con...
Horseshoe Metals Advances Horseshoe Lights Copper-Gold Project With High-Value DSO Potential
Jul 31, 2026
Horseshoe Metals’ June quarter activities centred on advancing its flagship Horseshoe Lights Copper-Gold Project in Western Australia, with multiple workstreams underway and an updated pit optimisation study nearing completion. The company i...
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.