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Horizon Gold Ltd
(Sydney:HRN)
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Rating:44Neutral
Price Target:
AU$0.92
▲(11.08% Upside)
Action:Reiterated
Date:07/18/26
The score is primarily held down by weak financial performance: zero revenue in 2025, ongoing losses, and sustained negative operating/free cash flow (cash burn). Technicals add downside pressure with the stock trading below key moving averages and negative MACD. Valuation is also constrained by a negative P/E and no dividend yield, with the low-debt balance sheet being the main supporting factor.
Positive Factors
Low leverage balance sheet
A near-zero debt load provides durable financial flexibility and materially lowers solvency risk. This reduces short-term refinancing pressure, supports continued exploration spend or strategic optioning, and preserves the ability to raise capital from equity without distressed balance-sheet constraints.
Negative Factors
Zero revenue, persistent losses
Lack of operating revenue and negative gross profit indicate the business remains pre-revenue and unable to cover direct costs. Over months this undermines self-funding capacity, meaning project advancement depends on external capital or asset transactions rather than internally generated earnings.
Read all positive and negative factors
Positive Factors
Negative Factors
Low leverage balance sheet
A near-zero debt load provides durable financial flexibility and materially lowers solvency risk. This reduces short-term refinancing pressure, supports continued exploration spend or strategic optioning, and preserves the ability to raise capital from equity without distressed balance-sheet constraints.
Read all positive factors
Horizon Gold Ltd (HRN) vs. iShares MSCI Australia ETF (EWA)
Market Cap
AU$210.19M
Dividend YieldN/A
Average Volume (3M)55.13K
Price to Earnings (P/E)―
Beta (1Y)0.69
Revenue GrowthN/A
EPS Growth-92.31%
CountryAU
Employees1
SectorBasic Materials
Sector Strength58
IndustryGold
Share Statistics
EPS (TTM)N/A
Shares Outstanding178,126,020
10 Day Avg. Volume57,113
30 Day Avg. Volume55,127
Financial Highlights & Ratios
PEG Ratio1.87
Price to Book (P/B)2.39
Price to Sales (P/S)0.00
P/FCF Ratio-14.91
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price Target
AU$2.03Price Target Upside143.98% Upside
Rating ConsensusModerate Buy
Number of Analyst Covering2
EPS Forecast (FY)N/A
Revenue Forecast (FY)N/A
Horizon Gold Ltd Business Overview & Revenue Model
Company Description
Horizon Gold Limited is an Australian company focused on the full lifecycle of gold resources, from identifying and appraising potential sites to developing and operating mines. Its key asset is the Gum Creek gold project, which encompasses approx...
How the Company Makes Money
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Horizon Gold Ltd Financial Statement Overview
Summary
Income Statement
18
Very Negative
Balance Sheet
72
Positive
Cash Flow
22
Negative
| Breakdown | TTM | Jun 2025 | Jun 2024 | Jun 2023 | Jun 2022 | Jun 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | -38.00K | 0.00 | 65.00K | 135.00K | 136.00K | 17.00K |
| Gross Profit | -298.00K | -506.00K | -508.00K | -298.00K | -66.00K | -11.00K |
| EBITDA | -1.55M | -1.60M | -1.11M | -1.71M | -477.00K | -1.04M |
| Net Income | -1.11M | -972.00K | -1.71M | -2.14M | -487.00K | -1.07M |
Balance Sheet | ||||||
| Total Assets | 57.98M | 48.30M | 44.10M | 40.75M | 41.97M | 36.44M |
| Cash, Cash Equivalents and Short-Term Investments | 4.41M | 503.00K | 219.00K | 238.00K | 211.00K | 1.27M |
| Total Debt | 0.00 | 500.00K | 0.00 | 41.00K | 40.00K | 0.00 |
| Total Liabilities | 13.24M | 14.77M | 12.15M | 11.94M | 11.50M | 11.56M |
| Stockholders Equity | 44.74M | 33.53M | 31.96M | 28.80M | 30.47M | 24.88M |
Cash Flow | ||||||
| Free Cash Flow | -4.37M | -5.37M | -2.59M | -5.91M | -6.20M | -3.78M |
| Operating Cash Flow | -955.00K | -791.00K | -755.00K | -646.00K | -637.00K | -1.25M |
| Investing Cash Flow | -9.58M | 575.00K | -5.00M | 237.00K | -6.37M | -7.03M |
| Financing Cash Flow | 11.31M | 500.00K | 5.74M | 436.00K | 5.95M | 9.38M |
Horizon Gold Ltd Technical Analysis
Positive
0.83
Price Trends
1.03
Positive
1.06
Positive
1.05
Positive
Market Momentum
0.05
Negative
64.48
Neutral
89.31
Negative
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For AU:HRN, the sentiment is Positive. The current price of 0.83 is below the 20-day moving average (MA) of 1.08, below the 50-day MA of 1.03, and below the 200-day MA of 1.05, indicating a bullish trend. The MACD of 0.05 indicates Negative momentum. The RSI at 64.48 is Neutral, neither overbought nor oversold. The STOCH value of 89.31 is Negative, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for AU:HRN.
Horizon Gold 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% | |
52 Neutral | AU$184.58M | -28.81 | -26.45% | ― | ― | -3250.00% | |
50 Neutral | AU$179.74M | -24.69 | -5.94% | 2571.81% | ― | -66.98% | |
45 Neutral | AU$306.23M | -19.35 | -87.62% | ― | -100.00% | -2337.50% | |
45 Neutral | AU$193.53M | -4.19 | -13.58% | ― | ― | -99.21% | |
44 Neutral | AU$210.19M | -142.17 | -2.84% | ― | ― | -92.31% | |
41 Neutral | AU$185.77M | -27.22 | -3.05% | ― | ― | 52.92% |
* Basic Materials Sector Average
AU:HRN
Horizon Gold Ltd
1.18
0.63
115.72%
AU:TTM
Titan Minerals Ltd
0.61
0.15
34.44%
AU:TSO
Tesoro Gold
0.99
0.30
43.48%
AU:BGD
Barton Gold Holdings Limited
1.13
0.19
20.21%
AU:VTM
Victory Goldfields Limited
1.40
0.02
1.09%
AU:WWI
West Wits Mining Limited
0.42
-0.04
-7.78%
Horizon Gold Ltd Corporate Events
Horizon Gold to Brief Investors on Gum Creek Feasibility Study via Webinar
Jul 22, 2026
Horizon Gold has scheduled an investor briefing webinar on MarketOpen Direct Connect for 29 July 2026, where Managing Director and CEO Scott Williamson will present an update on the recently released Definitive Feasibility Study for the Gum Creek ...
Horizon Gold Confirms Feasibility Basis for Gum Creek Project
Jul 21, 2026
Horizon Gold has released a definitive feasibility study presentation for its Gum Creek Gold Project, outlining production targets and financial forecasts that underpin its strategy to develop a major new open-pit gold mine in Western Australia. T...
Horizon Gold DFS Sets Stage for Major Gum Creek Mine Development
Jul 21, 2026
Horizon Gold has completed a Definitive Feasibility Study for the Gum Creek open pit development, confirming a technically de-risked, large-scale gold project with an initial 10-year mine life. The study outlines an average annual production of 88...
Horizon Gold Unveils New Website and Investor Hub to Boost Shareholder Engagement
Jun 17, 2026
Horizon Gold Limited has launched a redesigned corporate website alongside a new Investor Hub platform aimed at centralising access to ASX announcements, reports, presentations and multimedia content for current and potential shareholders. The ini...
Horizon Gold Drilling Delivers High-Grade Hits to Boost Gum Creek Economics
Jun 9, 2026
Horizon Gold has reported multiple high-grade gold intercepts from recent reverse circulation drilling at its Gum Creek project, with notable results from the Swift and Eagle prospects extending mineralisation beyond the current resource model. Th...
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.