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Magnetite Mines Limited
(Sydney:MGT)
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Rating:42Neutral
Price Target:
AU$0.02
▼(-5.00% Downside)
Action:Upgraded
Date:07/08/26
The score is primarily constrained by weak financial performance (ongoing losses, declining revenue, and negative operating/free cash flow). Technicals also pressure the rating, with the price below all key moving averages and bearish MACD. Valuation offers limited support because the negative P/E is driven by losses and no dividend yield is available.
Positive Factors
Conservative leverage
Low reported debt-to-equity indicates conservative leverage, a durable strength. It reduces refinancing and interest-service risk while the company develops long‑dated mining projects, giving flexibility to fund capex or weather operational delays without immediate solvency pressure.
Negative Factors
Persistent unprofitability
Continued negative net profit and EBIT margins show the company cannot yet convert operations into profit. That structural unprofitability limits internal funding for development, increases reliance on external capital, and erodes returns for shareholders until profitable operations or new revenue streams emerge.
Read all positive and negative factors
Positive Factors
Negative Factors
Conservative leverage
Low reported debt-to-equity indicates conservative leverage, a durable strength. It reduces refinancing and interest-service risk while the company develops long‑dated mining projects, giving flexibility to fund capex or weather operational delays without immediate solvency pressure.
Read all positive factors
Magnetite Mines Limited (MGT) vs. iShares MSCI Australia ETF (EWA)
Market Cap
AU$5.88M
Dividend YieldN/A
Average Volume (3M)195.83K
Price to Earnings (P/E)―
Beta (1Y)0.85
Revenue GrowthN/A
EPS Growth31.93%
CountryAU
EmployeesN/A
SectorBasic Materials
Sector Strength58
IndustryIndustrial Materials
Share Statistics
EPS (TTM)-0.03
Shares Outstanding294,053,500
10 Day Avg. Volume183,849
30 Day Avg. Volume195,829
Financial Highlights & Ratios
PEG Ratio0.07
Price to Book (P/B)0.25
Price to Sales (P/S)7681.25
P/FCF Ratio-1.61
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
Magnetite Mines Limited Business Overview & Revenue Model
Company Description
Magnetite Mines Limited (MGT.AX) is an Australian enterprise primarily engaged in the exploration of mineral deposits across South Australia. Its flagship asset is the Razorback Iron project, which incorporates the Razorback Ridge, Iron Peak, and ...
How the Company Makes Money
null...
Magnetite Mines Limited Financial Statement Overview
Summary
Income Statement
10
Very Negative
Balance Sheet
30
Negative
Cash Flow
20
Very Negative
| Breakdown | TTM | Jun 2025 | Jun 2024 | Jun 2023 | Jun 2022 | Jun 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | -169.61K | 1.22K | 214.49K | 212.59K | 195.44K | 0.00 |
| Gross Profit | -256.65K | 1.22K | 214.49K | -43.09K | 88.69K | -9.19K |
| EBITDA | -3.52M | -4.06M | -4.35M | -4.94M | -3.45M | -1.62M |
| Net Income | -3.88M | -4.19M | -4.85M | -5.33M | -3.66M | -1.73M |
Balance Sheet | ||||||
| Total Assets | 43.30M | 41.30M | 38.23M | 38.97M | 45.79M | 29.70M |
| Cash, Cash Equivalents and Short-Term Investments | 2.82M | 1.49M | 1.21M | 5.13M | 19.35M | 16.59M |
| Total Debt | 2.61M | 3.20M | 117.33K | 2.42M | 2.21M | 1.98M |
| Total Liabilities | 3.50M | 4.31M | 1.38M | 3.66M | 6.44M | 2.81M |
| Stockholders Equity | 39.80M | 36.99M | 36.84M | 35.31M | 39.35M | 26.89M |
Cash Flow | ||||||
| Free Cash Flow | -3.87M | -5.82M | -7.25M | -13.86M | -12.26M | -4.31M |
| Operating Cash Flow | -2.45M | -2.81M | -3.67M | -3.87M | -2.29M | -1.13M |
| Investing Cash Flow | -1.99M | -2.91M | -3.77M | -9.98M | -10.04M | -3.17M |
| Financing Cash Flow | 6.23M | 5.99M | 3.52M | -358.20K | 15.10M | 20.06M |
Magnetite Mines Limited Technical Analysis
Negative
0.02
Price Trends
0.02
Positive
0.02
Negative
0.04
Negative
Market Momentum
>-0.01
Negative
38.74
Neutral
133.33
Negative
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For AU:MGT, the sentiment is Negative. The current price of 0.02 is above the 20-day moving average (MA) of 0.02, above the 50-day MA of 0.02, and below the 200-day MA of 0.04, indicating a neutral trend. The MACD of >-0.01 indicates Negative momentum. The RSI at 38.74 is Neutral, neither overbought nor oversold. The STOCH value of 133.33 is Negative, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for AU:MGT.
Magnetite Mines 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% | |
47 Neutral | AU$9.95M | -0.29 | -9.07% | ― | ― | 65.52% | |
44 Neutral | AU$14.47M | -5.83 | -3.39% | ― | ― | 10.00% | |
44 Neutral | AU$18.08M | -10.80 | -5.53% | ― | ― | -7.41% | |
43 Neutral | AU$24.22M | -0.35 | -47.95% | ― | ― | 9.80% | |
42 Neutral | AU$5.88M | -0.71 | -10.09% | ― | ― | 31.93% | |
42 Neutral | AU$13.90M | -39.34 | -0.73% | 3.48% | 24.21% | 94.92% |
* Basic Materials Sector Average
AU:MGT
Magnetite Mines Limited
0.02
-0.04
-68.25%
AU:HIO
Hawsons Iron Ltd
0.01
-0.01
-54.55%
AU:VR8
Vanadium Resources Ltd.
0.03
-0.01
-32.50%
AU:GEN
Genmin Ltd.
0.01
-0.01
-50.00%
AU:MGL
Magontec Limited
0.24
0.04
20.00%
AU:MIO
Macarthur Minerals Ltd.
0.03
<0.01
12.50%
Magnetite Mines Limited Corporate Events
Magnetite Mines issues director shares to conserve cash and align incentives
Jul 3, 2026
Magnetite Mines Limited has issued 1,090,513 fully paid ordinary shares to directors Paul White and Simon Wandke in lieu of a portion of their cash remuneration for the April to June 2026 period, following prior shareholder approval. The shares we...
Magnetite Mines boosts director equity via fee-for-shares issue
Jul 3, 2026
Magnetite Mines Limited has disclosed a change in director Paul White’s holdings, with his relevant interest in fully paid ordinary shares increasing through both direct and indirect structures. The additional shares, valued at $22,500, were...
Magnetite Mines Seeks ASX Quotation for New Employee Incentive Shares
Jul 2, 2026
Magnetite Mines Limited, an ASX-listed iron ore explorer, is engaged in developing magnetite resources for supply to steel producers. The company operates within Australia’s mining sector and seeks to build value through progression of its m...
Magnetite Mines Performance Rights Lapse After Conditions Not Met
Jun 26, 2026
Magnetite Mines Limited has notified the market of the lapse of 9,319,349 performance rights, which ceased on June 26, 2026 after the conditions attached to these rights were not met or became incapable of being satisfied. The cessation of these c...
Magnetite Mines Lists Additional Shares on ASX After Option Conversions
Jun 26, 2026
Magnetite Mines Limited has applied for quotation on the ASX of 889,174 new ordinary fully paid shares, issued on 26 June 2026 following the exercise or conversion of existing securities. The additional shares modestly increase the company’s...
Magnetite Mines shareholders back all resolutions at extraordinary meeting
May 29, 2026
Magnetite Mines Limited has confirmed that all resolutions put to shareholders at its 29 May 2026 extraordinary general meeting were passed by the requisite majority via poll voting. The approved items included the ratification and issue of broker...
Magnetite Mines Flags Historical Gold Targets at Manna Hill Project
May 27, 2026
Magnetite Mines has completed a desktop review of historical data at its newly granted Manna Hill Gold Project in South Australia, identifying historical gold workings and prospects at the Boomerang and Coo-ee areas along a quartz-sulphide vein tr...
Magnetite Mines Appoints Scott Lowe as Director With No Current Shareholding
May 26, 2026
Magnetite Mines Limited has appointed Scott Lowe as a director effective 26 May 2026, formalising the change in its board composition in line with ASX disclosure requirements. The company also disclosed that Lowe currently holds no direct or indir...
Magnetite Mines resets strategy and appoints new CEO to drive Razorback funding
May 26, 2026
Magnetite Mines has launched a strategic reset and leadership transition in response to challenging market conditions, prioritising cost reductions, capital efficiency and near-term funding for its Razorback Iron Ore Project. Managing director Tim...
Magnetite Mines Seeks ASX Quotation for New Shares and Options
May 4, 2026
Magnetite Mines Limited has applied for quotation on the ASX of 1,504,033 new ordinary fully paid shares and an equal number of options exercisable until October 1, 2028, both issued on May 1, 2026. The securities, which arise from previously anno...
Magnetite Mines taps GC Partners Asia to secure Chinese funding for Razorback
May 4, 2026
Magnetite Mines has appointed GC Partners Asia as corporate advisor for its Razorback Iron Ore Project, tasking the firm with engaging potential Chinese strategic investors and offtake partners. The move targets growing demand from China’s d...
Magnetite Mines Gains Major Project Status as Razorback and Exploration Assets Advance
Apr 29, 2026
Magnetite Mines reported solid third-quarter progress at its Razorback Iron Ore Project, which was granted Major Project Status by the Australian Federal Government, giving it priority facilitation through complex approvals and underscoring its na...
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.