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Horizon Gold Ltd
(Sydney:HRN)
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Rating:53Neutral
Price Target:
AU$1.00
▲(20.48% Upside)
Action:Reiterated
Date:10/01/26
The score is held back primarily by weak financial performance (pre-revenue losses and ongoing cash burn), partially offset by a low-debt balance sheet. Technicals are moderately supportive with the price trading above key moving averages, while valuation is constrained by negative earnings and no indicated dividend yield.
Positive Factors
Minimal Debt
Minimal leverage reduces refinancing exposure and preserves financial flexibility while the company advances its exploration portfolio. A debt-light structure can also limit fixed financial obligations, allowing more capital to remain available for geological work, studies, and project development.
Negative Factors
Pre-Revenue Profile
Zero revenue confirms that Horizon Gold has not yet reached a producing phase, so its activities are not currently supported by operating income. Until a project advances into production or another value-realisation event, financial performance remains highly dependent on funding and exploration progress.
Read all positive and negative factors
Positive Factors
Negative Factors
Minimal Debt
Minimal leverage reduces refinancing exposure and preserves financial flexibility while the company advances its exploration portfolio. A debt-light structure can also limit fixed financial obligations, allowing more capital to remain available for geological work, studies, and project development.
Read all positive factors
Horizon Gold Ltd (HRN) vs. iShares MSCI Australia ETF (EWA)
Market Cap
AU$199.10M
Dividend YieldN/A
Average Volume (3M)30.36K
Price to Earnings (P/E)―
Beta (1Y)0.71
Revenue GrowthN/A
EPS Growth-75.76%
CountryAU
Employees2
SectorBasic Materials
Sector Strength58
IndustryGold
Share Statistics
EPS (TTM)N/A
Shares Outstanding195,192,500
10 Day Avg. Volume38,530
30 Day Avg. Volume30,363
Financial Highlights & Ratios
PEG Ratio-1.24
Price to Book (P/B)2.53
Price to Sales (P/S)0.00
P/FCF Ratio-80.07
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price Target
AU$2.00Price Target Upside140.96% 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
null...
Horizon Gold Ltd Financial Statement Overview
Summary
Income Statement
12
Very Negative
Balance Sheet
62
Positive
Cash Flow
28
Negative
| Breakdown | Jun 2026 | Jun 2025 | Jun 2024 | Jun 2023 | Jun 2022 |
|---|---|---|---|---|---|
Income Statement | |||||
| Total Revenue | 0.00 | 0.00 | 65.00K | 135.00K | 136.00K |
| Gross Profit | -520.00K | -506.00K | -508.00K | -298.00K | -66.00K |
| EBITDA | -2.43M | -1.60M | -1.10M | -1.71M | -282.00K |
| Net Income | -2.02M | -972.00K | -1.71M | -2.14M | -487.00K |
Balance Sheet | |||||
| Total Assets | 88.61M | 48.30M | 44.10M | 40.75M | 41.97M |
| Cash, Cash Equivalents and Short-Term Investments | 24.05M | 503.00K | 219.00K | 238.00K | 211.00K |
| Total Debt | 0.00 | 500.00K | 0.00 | 41.00K | 40.00K |
| Total Liabilities | 16.46M | 14.77M | 12.15M | 11.94M | 11.50M |
| Stockholders Equity | 72.14M | 33.53M | 31.96M | 28.80M | 30.47M |
Cash Flow | |||||
| Free Cash Flow | -2.28M | -5.37M | -2.59M | -5.91M | -6.20M |
| Operating Cash Flow | -1.43M | -791.00K | -755.00K | -646.00K | -637.00K |
| Investing Cash Flow | -14.20M | 575.00K | -5.00M | 237.00K | -6.37M |
| Financing Cash Flow | 39.18M | 500.00K | 5.74M | 436.00K | 5.95M |
Horizon Gold Ltd Technical Analysis
Negative
0.83
Price Trends
1.07
Negative
1.05
Negative
1.09
Negative
Market Momentum
-0.01
Positive
42.53
Neutral
14.44
Positive
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For AU:HRN, the sentiment is Negative. The current price of 0.83 is below the 20-day moving average (MA) of 1.07, below the 50-day MA of 1.07, and below the 200-day MA of 1.09, indicating a bearish trend. The MACD of -0.01 indicates Positive momentum. The RSI at 42.53 is Neutral, neither overbought nor oversold. The STOCH value of 14.44 is Positive, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative 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% | |
53 Neutral | AU$199.10M | -93.58 | -3.46% | ― | ― | -75.76% | |
51 Neutral | AU$163.56M | -22.47 | -5.94% | 2571.81% | ― | -29.82% | |
48 Neutral | AU$261.55M | -10.33 | -80.60% | ― | -100.00% | -1011.90% | |
46 Neutral | AU$182.42M | -34.85 | -20.08% | ― | ― | -21.85% | |
45 Neutral | AU$154.39M | -3.34 | -13.58% | ― | ― | -99.21% | |
44 Neutral | AU$158.41M | -21.15 | -7.32% | ― | ― | 49.90% |
* Basic Materials Sector Average
AU:HRN
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Horizon Gold Ltd Corporate Events
Horizon Gold Sets 2026 AGM Date and Deadline for Director Nominations
Sep 30, 2026
Horizon Gold Limited has scheduled its 2026 Annual General Meeting for 19 November in West Perth, Western Australia, and has set 8 October as the closing date for receipt of written director nominations accompanied by consent to act. The company w...
Horizon Gold Files Updated Corporate Governance Disclosures with ASX
Sep 22, 2026
Horizon Gold Limited has lodged its Appendix 4G with the ASX for the financial year ended 30 June 2026, confirming that its corporate governance statement is current as of 22 September 2026 and accessible on the company’s website. The filing...
Horizon Gold Sets Out Corporate Governance Framework and ASX Compliance
Sep 22, 2026
Horizon Gold Limited has outlined its corporate governance framework, confirming substantial compliance with the ASX Corporate Governance Council’s latest principles and recommendations. The board emphasises high standards of ethical behavio...
Horizon Gold Issues 400,000 New Shares Under Disclosure Relief
Sep 7, 2026
Horizon Gold Limited has issued 400,000 fully paid ordinary shares, adding to its existing class of securities quoted on the Australian Securities Exchange. The company advised that the shares were issued without a prospectus under the disclosure ...
S&P Dow Jones Indices Unveils September Rebalance of Key S&P/ASX Benchmarks
Sep 4, 2026
SP Dow Jones Indices has announced its September 2026 quarterly rebalance of the SP/ASX indices, with several additions and removals across the SP/ASX 50, 100, 200 and 300 benchmarks, while the SP/ASX 20 remains unchanged. The reshuffle, which int...
Horizon Gold drilling points to Gum Creek resource expansion
Aug 25, 2026
Horizon Gold has reported numerous significant gold intercepts from reverse circulation drilling at the Howards, Heron South and Melbourne Bitter prospects within its Gum Creek Gold Project in Western Australia, confirming an 800‑metre south...
Horizon Gold Uncovers High-Grade Drilling Results at Gum Creek
Aug 3, 2026
Horizon Gold has reported a series of broad, high-grade reverse circulation drilling intercepts from the Kingfisher, Hawk and Swan prospects at its Gum Creek Gold Project in Western Australia. The results point to substantial gold mineralisation c...
Horizon Gold’s Gum Creek DFS Maps 10-Year Production Plan Backed by A$30m Raise
Jul 30, 2026
Horizon Gold Ltd has completed a Definitive Feasibility Study for open pit mining at its Gum Creek Gold Project, outlining average annual production of 98,000 ounces over the first five years and total recovered gold of 880,000 ounces across a 10-...
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...
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.