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Heavy Minerals Ltd
(Sydney:HVY)
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Rating:42Neutral
Price Target:
AU$0.33
â–¼(-34.80% Downside)
Action:Reiterated
Date:10/07/26
The score is driven primarily by weak financial performance: persistent losses, zero revenue in the latest period, ongoing cash burn, and a weakening balance sheet with rising debt and shrinking equity. Technicals are also unfavorable with the price below major moving averages and negative MACD, while valuation provides limited support due to a negative P/E and no dividend data.
Positive Factors
Mineral exploration optionality
HVY’s exploration model targets deposits containing ilmenite, rutile, zircon and related products serving pigment, titanium-metal and industrial uses. This provides multiple potential end markets and a defined pathway from exploration and metallurgical work toward project development or monetisation if deposits advance.
Negative Factors
Persistent unprofitable operations
Recurring operating and net losses across six reported years show that HVY has not yet established a profitable operating model. The latest period’s zero revenue and deeply negative margins where revenue existed increase reliance on financing and make sustained project advancement more difficult.
Read all positive and negative factors
Positive Factors
Negative Factors
Mineral exploration optionality
HVY’s exploration model targets deposits containing ilmenite, rutile, zircon and related products serving pigment, titanium-metal and industrial uses. This provides multiple potential end markets and a defined pathway from exploration and metallurgical work toward project development or monetisation if deposits advance.
Read all positive factors
Heavy Minerals Ltd (HVY) vs. iShares MSCI Australia ETF (EWA)
Market Cap
AU$27.89M
Dividend YieldN/A
Average Volume (3M)51.72K
Price to Earnings (P/E)―
Beta (1Y)1.32
Revenue GrowthN/A
EPS Growth-81.45%
CountryAU
EmployeesN/A
SectorBasic Materials
Sector Strength58
IndustryIndustrial Materials
Share Statistics
EPS (TTM)-0.04
Shares Outstanding73,393,590
10 Day Avg. Volume10,920
30 Day Avg. Volume51,716
Financial Highlights & Ratios
PEG Ratio-0.12
Price to Book (P/B)26.00
Price to Sales (P/S)0.00
P/FCF Ratio-41.18
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
Heavy Minerals Ltd Business Overview & Revenue Model
Company Description
Heavy Minerals Limited, established in 2021 and based in Perth, Australia, specializes in the exploration and development of mineral resource projects. Their operations span both Western Australia and Mozambique, focusing on unearthing deposits of...
Heavy Minerals Ltd Financial Statement Overview
Summary
Income Statement
14
Very Negative
Balance Sheet
28
Negative
Cash Flow
17
Very Negative
| Breakdown | Jun 2026 | Jun 2025 | Jun 2024 | Jun 2023 | Jun 2022 |
|---|---|---|---|---|---|
Income Statement | |||||
| Total Revenue | 0.00 | 44.13K | 40.17K | 27.34K | 8.80K |
| Gross Profit | -80.68K | 44.13K | 40.17K | 7.23K | 6.76K |
| EBITDA | -2.77M | -1.45M | -1.05M | -1.15M | -1.05M |
| Net Income | -2.84M | -1.48M | -1.15M | -1.17M | -1.05M |
Balance Sheet | |||||
| Total Assets | 5.36M | 5.31M | 4.40M | 3.54M | 4.47M |
| Cash, Cash Equivalents and Short-Term Investments | 35.72K | 33.17K | 47.48K | 319.90K | 2.41M |
| Total Debt | 3.59M | 2.36M | 853.39K | 0.00 | 0.00 |
| Total Liabilities | 4.34M | 2.97M | 1.19M | 76.03K | 129.07K |
| Stockholders Equity | 1.06M | 2.37M | 3.26M | 3.51M | 4.39M |
Cash Flow | |||||
| Free Cash Flow | -666.68K | -1.71M | -1.38M | -2.09M | -2.76M |
| Operating Cash Flow | -666.68K | -721.70K | -616.66K | -866.26K | -1.36M |
| Investing Cash Flow | -770.41K | -991.53K | -766.12K | 279.28K | -2.90M |
| Financing Cash Flow | 1.44M | 1.70M | 1.11M | -4.75K | 5.14M |
Heavy Minerals Ltd Technical Analysis
Negative
0.50
Price Trends
0.37
Negative
0.41
Negative
0.46
Negative
Market Momentum
>-0.01
Negative
47.51
Neutral
47.55
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For AU:HVY, the sentiment is Negative. The current price of 0.5 is above the 20-day moving average (MA) of 0.34, above the 50-day MA of 0.37, and above the 200-day MA of 0.46, indicating a bearish trend. The MACD of >-0.01 indicates Negative momentum. The RSI at 47.51 is Neutral, neither overbought nor oversold. The STOCH value of 47.55 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for AU:HVY.
Heavy Minerals 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% | |
47 Neutral | AU$34.94M | -6.04 | -20.81% | ― | ― | -20.45% | |
45 Neutral | AU$14.07M | -8.47 | -8.30% | ― | ― | -40.00% | |
45 Neutral | AU$18.96M | -0.22 | -943.96% | 12.16% | 397.37% | -578.07% | |
42 Neutral | AU$27.89M | -8.48 | -163.69% | ― | ― | -81.45% | |
42 Neutral | AU$14.26M | -0.27 | -63.22% | ― | ― | -138.28% | |
41 Neutral | AU$17.90M | -13.41 | -20.00% | ― | ― | 72.94% |
* Basic Materials Sector Average
AU:HVY
Heavy Minerals Ltd
0.34
-0.09
-20.93%
AU:SFX
Sheffield Resources Limited
0.04
-0.11
-75.17%
AU:TSL
Titanium Sands
0.01
0.00
0.00%
AU:IMA
Image Resources NL
0.02
-0.05
-75.00%
AU:VRX
VRX Silica Ltd.
0.03
-0.07
-68.93%
AU:IND
Industrial Minerals Limited
0.11
-0.06
-33.33%
Heavy Minerals Ltd Corporate Events
Heavy Minerals Advances Red Hill Toward Maiden Garnet Resource
Oct 4, 2026
Heavy Minerals Ltd has commissioned Mineral Technologies to build a geological model and deliver a maiden JORC-compliant Mineral Resource estimate for its 100%-owned Red Hill Garnet Project in Western Australia, using existing drilling, assay and ...
Heavy Minerals Shares Reinstated to ASX Quotation After Annual Report Lodgement
Oct 2, 2026
Trading in Heavy Minerals Limited shares on the ASX will resume from the start of Monday, 5 October 2026, after the company lodged its Annual Financial Report for the year ended 30 June 2026. The reinstatement to quotation restores liquidity for s...
Heavy Minerals Updates ASX Corporate Governance Disclosures
Oct 2, 2026
Heavy Minerals Limited has lodged its updated corporate governance statement for the year ended 30 June 2026 with the ASX, confirming compliance with key Corporate Governance Council principles. The statement, current as of 2 October 2026, is host...
Heavy Minerals Tightens Board Oversight With Updated Governance Charter
Oct 2, 2026
Heavy Minerals Ltd has reaffirmed its commitment to high standards of corporate governance, stating that its practices largely align with the ASX Corporate Governance Council’s 4th Edition Principles and Recommendations. The board acknowledg...
Heavy Minerals Limited Publishes 2026 Annual Report
Oct 2, 2026
Heavy Minerals Limited has released its annual report for the year ended 30 June 2026, outlining consolidated financial performance, cash flows and changes in equity across the company and its controlled entities. The report also details corporate...
Heavy Minerals Suspended from ASX Quotation Over Late Periodic Report
Oct 1, 2026
Heavy Minerals Ltd has had its securities suspended from quotation on the ASX after failing to lodge its required periodic report by the specified deadline. The suspension, imposed under Listing Rule 17.5 alongside several other issuers, will rema...
Heavy Minerals Corrects Expired Performance Rights Disclosure
Sep 17, 2026
Heavy Minerals Ltd has corrected a prior disclosure regarding the cessation of securities, specifically updating the reported number of expired performance rights. The company now states that 1,440,408 performance rights have lapsed, amending an e...
Heavy Minerals Director Updates Equity-Based Holdings
Sep 14, 2026
Heavy Minerals Limited has disclosed a change in director Christopher Adam Siddons Schofield’s interests, in line with ASX listing rules governing director shareholdings and notifiable interests. The notice details adjustments to his equity&...
Heavy Minerals Tightens Capital Structure as Performance Rights Expire
Sep 14, 2026
Heavy Minerals Ltd has confirmed the lapse of 2,565,408 performance rights, classified under the ASX code HVYAK, following their expiry without being exercised or converted on 14 September 2026. The cessation of these securities reduces the compan...
Heavy Minerals Adds 300,000 New Shares to ASX Quotation
Aug 20, 2026
Heavy Minerals Ltd has applied for quotation on the ASX of 300,000 additional ordinary fully paid shares under its existing HVY ticker. The new securities, issued on August 20, 2026, modestly increase the company’s tradable share base and ma...
Heavy Minerals taps ATM facility at premium to fund garnet project pipeline
Aug 18, 2026
Heavy Minerals Limited has raised $80,000 through its at-the-market subscription agreement with Acuity Capital by setting off 210,000 previously issued collateral shares, reducing Acuity’s remaining collateral obligation to 3.29 million shar...
Heavy Minerals Issues New Unquoted Options Under Incentive Structure
Aug 11, 2026
Heavy Minerals Ltd has notified the market of the issue of 30,000 unquoted options with an exercise price of $0.6357, expiring on July 28, 2028. The new options, recorded via an ASX Appendix 3G filing, modestly expand the company’s pool of i...
Heavy Minerals Ltd to Quote 1.25 Million New Shares on ASX
Aug 11, 2026
Heavy Minerals Ltd has lodged an application with the ASX for quotation of 1,250,000 new ordinary fully paid shares, to be issued on 11 August 2026. The additional securities expand the company’s listed capital base, potentially enhancing li...
Heavy Minerals Issues New Shares as Garnet Projects Advance
Aug 11, 2026
Heavy Minerals Ltd has issued 1,250,000 fully paid ordinary shares, utilising provisions that allow the issuance without a prospectus while confirming compliance with key continuous disclosure and reporting obligations under the Corporations Act. ...
Heavy Minerals Plans Issue of 30,000 Unquoted Options
Aug 11, 2026
Heavy Minerals Ltd has notified the ASX of a proposed issue of 30,000 unquoted options, exercisable at $0.6357 and expiring on 28 July 2028, as part of a placement or other type of securities issue. The options, to be issued on 11 August 2026 subj...
Heavy Minerals Options Lapse, Slightly Simplifying Capital Structure
Aug 3, 2026
Heavy Minerals Ltd has confirmed the expiry of 20,000 options with an exercise price of $0.25, which lapsed unexercised on 30 July 2026. The cessation of these options slightly reduces the company’s potential future share issuance, simplifyi...
Heavy Minerals Issues New Shares Under Corporations Act Exemption
Jul 30, 2026
Heavy Minerals Ltd has issued 60,000 fully paid ordinary shares on 30 July 2026 and confirmed the issuance was conducted without a disclosure document under the relevant provisions of the Corporations Act. The company states it is compliant with i...
Heavy Minerals Director Shifts From Options to Shares in $12,500 Trade
Jul 30, 2026
Heavy Minerals Ltd has reported a change in the indirect shareholding of director Aaron Williams through the Williams Family Trust. Williams has acquired 50,000 fully paid ordinary shares in the company and, in a corresponding move, disposed of 50...
Heavy Minerals Ltd Seeks ASX Quotation for Additional Shares
Jul 30, 2026
Heavy Minerals Ltd has applied for quotation on the ASX of 60,000 new ordinary fully paid shares, with an issue date of July 30, 2026. The modest size of this share issuance suggests a routine capital management or employee-related securities exer...
Heavy Minerals posts strong PFS economics for long-life Port Gregory garnet project
Jul 29, 2026
Heavy Minerals Ltd has released a detailed pre-feasibility study for its Port Gregory Garnet Project in Western Australia, confirming a conventional, low-capex alluvial garnet operation with a 24-year mine life and a maiden Ore Reserve of 85.5 Mt ...
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.