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Horseshoe Metals Limited
(Sydney:HOR)
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Rating:49Neutral
Price Target:
AU$0.03
▼(-6.67% Downside)
Action:Reiterated
Date:08/20/26
The score is primarily held down by weak financial performance—persistent losses, ongoing cash burn, and negative equity—implying continued reliance on external funding. Technicals are comparatively supportive with improving short-term momentum, but valuation is constrained by negative earnings and the absence of a dividend.
Positive Factors
Copper and gold exploration focus
A focused portfolio of copper and gold exploration projects gives Horseshoe Metals exposure to established base and precious metals markets. Advancing prospects can create value through resource definition, partnerships, asset sales, or eventual mine development.
Negative Factors
Negative equity and rising debt
Negative equity materially restricts financial flexibility, while higher debt adds obligations despite continuing losses. This combination increases dependence on external funding and may constrain the company’s ability to advance exploration without dilution, refinancing, or asset transactions.
Read all positive and negative factors
Positive Factors
Negative Factors
Copper and gold exploration focus
A focused portfolio of copper and gold exploration projects gives Horseshoe Metals exposure to established base and precious metals markets. Advancing prospects can create value through resource definition, partnerships, asset sales, or eventual mine development.
Read all positive factors
Horseshoe Metals Limited (HOR) vs. iShares MSCI Australia ETF (EWA)
Market Cap
AU$21.00M
Dividend YieldN/A
Average Volume (3M)181.30K
Price to Earnings (P/E)―
Beta (1Y)0.27
Revenue GrowthN/A
EPS Growth-84.62%
CountryAU
Employees3
SectorBasic Materials
Sector Strength58
IndustryIndustrial Materials
Share Statistics
EPS (TTM)>-0.01
Shares Outstanding750,009,100
10 Day Avg. Volume111,354
30 Day Avg. Volume181,296
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 ...
How the Company Makes Money
Horseshoe Metals Limited is primarily an exploration-stage mining company, so it typically does not generate recurring operating revenue from product sales unless and until it develops a project into production. Its economic model is generally bas...
Horseshoe Metals Limited Financial Statement Overview
Summary
Income Statement
12
Very Negative
Balance Sheet
18
Very Negative
Cash Flow
14
Very Negative
| Breakdown | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|
Income Statement | |||||
| Total Revenue | 250.00K | 11.91K | 8.61K | 21.49K | 93.31K |
| Gross Profit | -685.65K | -19.32K | -4.75K | -12.31K | 89.34K |
| EBITDA | -1.48M | -787.71K | -1.18M | -2.26M | -2.13M |
| Net Income | -1.68M | -845.65K | -1.29M | -2.37M | -2.31M |
Balance Sheet | |||||
| Total Assets | 10.12M | 8.86M | 8.54M | 8.26M | 8.47M |
| Cash, Cash Equivalents and Short-Term Investments | 27.62K | 399.00 | 2.47K | 6.78K | 1.37M |
| Total Debt | 1.70M | 1.19M | 1.69M | 1.59M | 1.64M |
| Total Liabilities | 11.47M | 10.11M | 9.10M | 9.79M | 10.30M |
| Stockholders Equity | -1.36M | -1.25M | -560.53K | -1.53M | -1.84M |
Cash Flow | |||||
| Free Cash Flow | -1.13M | -166.70K | -1.86M | -3.24M | -955.53K |
| Operating Cash Flow | -546.48K | -166.70K | -1.85M | -3.19M | -955.53K |
| Investing Cash Flow | -583.42K | 0.00 | -727.00 | -47.68K | 0.00 |
| Financing Cash Flow | 1.16M | 164.63K | 1.85M | 1.87M | 2.23M |
Horseshoe Metals Limited Technical Analysis
Neutral
0.03
Price Trends
0.02
Positive
0.03
Positive
0.03
Negative
Market Momentum
<0.01
Positive
49.74
Neutral
3.33
Positive
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For AU:HOR, the sentiment is Neutral. The current price of 0.03 is above the 20-day moving average (MA) of 0.03, above the 50-day MA of 0.02, and below the 200-day MA of 0.03, indicating a neutral trend. The MACD of <0.01 indicates Positive momentum. The RSI at 49.74 is Neutral, neither overbought nor oversold. The STOCH value of 3.33 is Positive, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Neutral 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% | |
50 Neutral | AU$17.55M | -2.98 | -57.07% | 1.07% | ― | 49.56% | |
49 Neutral | AU$21.00M | -12.17 | 112.84% | ― | ― | -84.62% | |
46 Neutral | AU$15.23M | -3.50 | -42.15% | ― | -11.28% | 41.18% | |
44 Neutral | AU$14.47M | -5.56 | -3.39% | ― | ― | 10.00% | |
42 Neutral | AU$17.10M | -11.68 | -2.36% | ― | ― | 10.09% | |
37 Underperform | AU$29.78M | -1.33 | -107.26% | 26.19% | ― | 71.99% |
* Basic Materials Sector Average
AU:HOR
Horseshoe Metals Limited
0.03
>-0.01
-12.50%
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Horseshoe Metals Limited Corporate Events
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...
Horseshoe Metals Options Vest Under Employee Incentive Plan
Jul 1, 2026
Horseshoe Metals Limited has confirmed that vesting conditions have been met for a total of 7,550,000 options issued under its Employee Securities Incentive Plan. These options, granted at a zero exercise price and subject to continuous service co...
Horseshoe Metals Issues Director Placement Shares and Lodges Cleansing Notice
Jun 16, 2026
Horseshoe Metals has issued 1,000,000 fully paid ordinary shares as a director placement to board member Kate Stoney, following shareholder approval at the company’s 20 May 2026 annual general meeting. The new shares form part of the company...
Horseshoe Metals Seeks ASX Quotation for 1 Million New Shares
Jun 16, 2026
Horseshoe Metals Limited has applied to the ASX for quotation of 1,000,000 ordinary fully paid shares, with an issue date of 16 June 2026. The new securities form part of previously announced transactions and will increase the company’s quot...
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.