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Meeka Gold Limited
(Sydney:MEK)
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Rating:64Neutral
Price Target:
AU$0.08
â–¼(-31.67% Downside)
Action:Downgraded
Date:09/29/26
The score is driven mainly by the sharp improvement in FY2026 financial performance (strong profitability and operating cash flow) and a low P/E valuation. These positives are tempered by weak technicals (price below all key moving averages with negative MACD) and the remaining cash-flow risk from negative free cash flow and a limited multi-year track record.
Positive Factors
FY2026 Revenue and Profit Inflection
The sharp FY2026 revenue increase and move to strong profitability show a substantial operating inflection after several loss-making years. If the company can sustain this level of activity, the expanded earnings base could support continued project advancement and strengthen internal funding capacity.
Negative Factors
Negative Free Cash Flow
Despite improved operating cash generation, continued negative free cash flow shows that investment and spending are absorbing more cash than the business currently generates after capital expenditure. This may require ongoing funding and makes cash-generation durability less established over the next several periods.
Read all positive and negative factors
Positive Factors
Negative Factors
FY2026 Revenue and Profit Inflection
The sharp FY2026 revenue increase and move to strong profitability show a substantial operating inflection after several loss-making years. If the company can sustain this level of activity, the expanded earnings base could support continued project advancement and strengthen internal funding capacity.
Read all positive factors
Meeka Gold Limited (MEK) vs. iShares MSCI Australia ETF (EWA)
Market Cap
AU$264.25M
Dividend YieldN/A
Average Volume (3M)25.55M
Price to Earnings (P/E)4.6
Beta (1Y)0.69
Revenue GrowthN/A
EPS GrowthN/A
CountryAU
Employees109
SectorBasic Materials
Sector Strength58
IndustryGold
Share Statistics
EPS (TTM)0.02
Shares Outstanding3,431,758,800
10 Day Avg. Volume15,911,439
30 Day Avg. Volume25,551,245
Financial Highlights & Ratios
PEG Ratio>-0.01
Price to Book (P/B)1.33
Price to Sales (P/S)1.73
P/FCF Ratio-16.17
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price Target
AU$0.17Price Target Upside41.67% Upside
Rating ConsensusModerate Buy
Number of Analyst Covering1
EPS Forecast (FY)0.02
Revenue Forecast (FY)AU$246.15M
Meeka Gold Limited Business Overview & Revenue Model
Company Description
Meeka Metals Limited is an Australian company primarily engaged in the exploration of precious metals and critical minerals, specifically gold and rare earth elements. The company's key asset is the Murchison gold project, which encompasses a sign...
Meeka Gold Limited Financial Statement Overview
Summary
Income Statement
78
Positive
Balance Sheet
72
Positive
Cash Flow
58
Neutral
| Breakdown | Jun 2026 | Jun 2025 | Jun 2024 | Jun 2023 | Jun 2022 |
|---|---|---|---|---|---|
Income Statement | |||||
| Total Revenue | 160.76M | 1.39M | 0.00 | 200.00K | 30.00K |
| Gross Profit | 73.35M | 1.39M | -72.12K | 139.28K | -18.26K |
| EBITDA | 115.04M | -2.11M | -2.71M | -933.00K | -2.95M |
| Net Income | 51.31M | -4.24M | -2.94M | -994.00K | -2.99M |
Balance Sheet | |||||
| Total Assets | 279.81M | 180.53M | 35.45M | 30.18M | 22.27M |
| Cash, Cash Equivalents and Short-Term Investments | 37.93M | 55.65M | 2.95M | 2.77M | 2.47M |
| Total Debt | 19.46M | 2.06M | 2.23M | 147.80K | 130.42K |
| Total Liabilities | 69.80M | 28.89M | 7.53M | 4.76M | 4.27M |
| Stockholders Equity | 210.00M | 151.63M | 27.92M | 25.42M | 18.00M |
Cash Flow | |||||
| Free Cash Flow | -17.24M | -71.66M | -7.03M | -8.19M | -6.30M |
| Operating Cash Flow | 89.78M | -4.49M | -1.52M | -1.07M | -676.46K |
| Investing Cash Flow | -107.02M | -67.17M | -5.50M | -6.92M | -6.02M |
| Financing Cash Flow | -483.00K | 124.36M | 7.20M | 8.30M | -43.33K |
Meeka Gold Limited Technical Analysis
Negative
0.12
Price Trends
0.11
Negative
0.11
Negative
0.14
Negative
Market Momentum
>-0.01
Positive
32.14
Neutral
19.17
Positive
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For AU:MEK, the sentiment is Negative. The current price of 0.12 is above the 20-day moving average (MA) of 0.09, above the 50-day MA of 0.11, and below the 200-day MA of 0.14, indicating a bearish trend. The MACD of >-0.01 indicates Positive momentum. The RSI at 32.14 is Neutral, neither overbought nor oversold. The STOCH value of 19.17 is Positive, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for AU:MEK.
Meeka Gold Limited Peers Comparison
UnderperformOutperform
Sector (61)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
78 Outperform | AU$332.85M | 7.25 | 51.83% | 5.24% | 60.14% | ― | |
75 Outperform | AU$266.01M | 3.50 | 25.21% | 3.91% | 28.38% | 127.83% | |
64 Neutral | AU$264.25M | 4.57 | 25.79% | ― | ― | ― | |
61 Neutral | $10.43B | 7.12 | -0.05% | 2.87% | 2.86% | -36.73% | |
58 Neutral | AU$648.41M | -56.98 | -4.83% | 3.03% | ― | 30.19% | |
54 Neutral | AU$304.63M | -30.00 | -5.89% | ― | ― | 9.68% | |
52 Neutral | AU$614.99M | -9.50 | -25.63% | ― | 91.40% | ― |
* Basic Materials Sector Average
AU:MEK
Meeka Gold Limited
0.08
-0.11
-58.38%
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0.41
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Meeka Gold Limited Corporate Events
Meeka Metals Sets Date and Voting Arrangements for 2026 AGM
Oct 23, 2026
Meeka Metals Limited has called its 2026 Annual General Meeting to be held in person at the offices of Steinepreis Paganin in the QV1 Building on St Georges Terrace, Perth, on 24 November 2026 at 11:00 a.m. AWST. The board has authorised the notic...
Meeka Metals Director Increases Indirect Shareholding via On-Market Purchase
Oct 22, 2026
Meeka Metals Limited has disclosed a change in director Timothy Davidson’s interests in the company’s securities, following an on-market purchase. Davidson, through his direct holdings and indirect interest via Mine Planner Pty Ltd, ac...
Meeka Metals Starts Fairway Decline to Add Second High-Grade Underground Mine
Oct 11, 2026
Meeka Metals has begun decline development at the Fairway underground mine at Turnberry, its second high-grade operation at the Murchison Gold Project in Western Australia. The new mine, located about 20 kilometres from the processing plant, will ...
Meeka Metals lifts gold output and cash as it pivots deeper underground
Oct 8, 2026
Meeka Metals reported a rise in quarterly gold production to 7,237 ounces for the September 2026 quarter, supported by 150,000 tonnes of ore processed at a strong metallurgical recovery of 95%. Underground output from the Andy Well mine continues ...
Meeka Metals Expands Capital Base With ASX Placement
Oct 1, 2026
Meeka Metals Limited has completed the issue of 329,815,836 fully paid ordinary shares using its placement capacity under ASX Listing Rule 7.1, expanding its share base without a disclosure document under Part 6D.2 of the Corporations Act. The com...
Meeka Metals Seeks Quotation for 330 Million New ASX Shares
Oct 1, 2026
Meeka Metals Limited has applied for quotation of 329,815,836 new ordinary fully paid shares on the Australian Securities Exchange, with an issue date of 1 October 2026. The large volume of new securities, issued as part of previously announced tr...
Meeka Metals Reaffirms JORC Compliance and Clarifies Investment Risk Framework
Sep 28, 2026
Meeka Metals has released a detailed presentation outlining key regulatory, technical and compliance frameworks that govern its mineral resource and ore reserve reporting. The company emphasises adherence to the JORC Code, the use of an internal C...
Meeka Metals Raises $40m to Accelerate Underground Gold Growth
Sep 25, 2026
Meeka Metals has secured firm commitments for a two-tranche institutional placement raising $40 million net at $0.10 per share, backed by existing and new domestic and international investors. The fresh capital will fund deferred consideration for...
Meeka Metals Sets Key Dates for 2026 AGM and Director Nominations
Sep 24, 2026
Meeka Metals Limited has announced the timetable for its 2026 Annual General Meeting, confirming the meeting will be held on Tuesday, 24 November 2026. The company outlined the governance framework under which the AGM will operate, aligning with A...
Meeka Metals Seeks Trading Halt Ahead of Capital Raising Announcement
Sep 22, 2026
Meeka Metals Limited has requested an immediate trading halt in its securities on the ASX pending the release of an announcement regarding a capital raising. The halt, approved by ASX Supervision, is expected to last until either the company issue...
Meeka Metals Delivers First Profitable Year as Gold Producer and Accelerates Underground Growth
Sep 21, 2026
Meeka Metals has reported its first full-year financial results as a gold producer, posting FY26 revenue of A$160.8 million, net profit after tax of A$51.3 million and operating cash flow of A$89.8 million, with cash of A$37.9 million and minimal ...
Meeka Gold Emphasises Safety, Integrity and Sustainability in Core Values
Sep 21, 2026
Meeka Gold Limited has outlined its core values as central to how it operates, stressing a commitment to maintaining a safe and healthy workplace where safety systems are embedded in everyday work. The company also highlights integrity and respect...
Meeka Metals Strengthens Board Independence and Governance Framework
Sep 21, 2026
Meeka Metals Limited has detailed an updated corporate governance framework that aligns with the ASX Corporate Governance Council’s latest principles and recommendations, emphasising openness, integrity and robust systems of control and risk...
Meeka Metals Unveils 270koz Initial Gold Resource at Mt Holland
Sep 15, 2026
Meeka Metals has reported an initial mineral resource of 270,000 ounces at 2.4 grams per tonne of gold at its Mt Holland project in Western Australia, covering three deposits: Blue Vein, Bushpig and Razorback. The resource is built on approximatel...
S&P Dow Jones Indices Unveils September 2026 S&P/ASX Rebalance
Sep 4, 2026
SP Dow Jones Indices has announced its September 2026 quarterly rebalance of the SP/ASX indices, bringing multiple additions and removals across the SP/ASX 50, 100, 200 and 300, while leaving the SP/ASX 20 unchanged. The reshuffle, which includes ...
Meeka Metals Hits 600ktpa Throughput as Ore Sorter Nears Commissioning
Sep 1, 2026
Meeka Metals has brought its processing plant up to a consistent annualised throughput of about 600,000 tonnes, after achieving 630,000 tonnes per annum on an annualised basis in August 2026. The improvement follows a program of debottlenecking ac...
Meeka Metals Issues 4.9 Million Unquoted Performance Rights Under Employee Incentive Plan
Sep 1, 2026
Meeka Metals Limited has issued 4,898,433 unquoted performance rights under its employee incentive scheme, effective 1 September 2026. The move underscores the company’s use of equity-based compensation to align staff and management with lon...
Meeka Metals Expands Deep Drilling at Turnberry After ASX-Mandated Caution on Visible Gold
Aug 27, 2026
Meeka Metals has reissued its announcement on visible gold intersected 300m below the Turnberry underground reserve after the ASX requested additional cautionary and geological detail. The company emphasised that visual observations of mineral abu...
Meeka Gold Hits Visible Gold in Deep Turnberry Drill, Adds Second Rig
Aug 20, 2026
Meeka Gold has intersected visible gold and abundant sulphide minerals in its deepest diamond drill hole to date at the Turnberry underground reserve, approximately 300 metres below the existing resource. The mineralisation occurs within a broad s...
Meeka Metals Secures Mt Holland Gold Deposits to Drive Growth Pipeline
Aug 16, 2026
Meeka Metals has completed the acquisition of the Blue Vein, Bushpig and Razorback gold deposits and surrounding tenure near Mt Holland in Western Australia’s Forrestania greenstone belt. The mining tenements span 71km2 and cover about 24km ...
Meeka Metals Issues New Shares to Fund Mt Holland South Acquisition
Aug 16, 2026
Meeka Metals Limited has issued 117,804,881 fully paid ordinary shares as part of the consideration for acquiring the Mt Holland South project, marking a significant expansion of its asset base. The share issue underscores the company’s stra...
Meeka Metals Seeks ASX Quotation for Over 117 Million New Shares
Aug 16, 2026
Meeka Metals Limited has lodged an application with the ASX for the quotation of additional ordinary fully paid shares, further leveraging public equity markets to support its metals exploration and development strategy. The company operates withi...
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.