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Magnetite Mines Limited
(Sydney:MGT)
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Rating:44Neutral
Price Target:
AU$0.02
â–¼(-25.00% Downside)
Action:Reiterated
Date:10/14/26
The score is held down primarily by weak financial performance (negligible/volatile revenue, persistent losses, and ongoing cash burn) and a bearish technical setup (price below key moving averages with negative MACD). A low-leverage balance sheet provides some stability, but valuation is constrained by negative earnings and no dividend support.
Positive Factors
Low Leverage
Low leverage and a sizable equity base provide financial flexibility while Magnetite Mines advances its projects. Limited debt reduces interest and refinancing pressure, allowing more of the company’s available capital to support exploration and development rather than servicing creditors.
Negative Factors
Minimal Volatile Revenue
The very small and inconsistent revenue base shows that the company has not yet established commercial operating income. This leaves financial performance dependent on project advancement and external funding, while making near-term revenue growth difficult to forecast with confidence.
Read all positive and negative factors
Positive Factors
Negative Factors
Low Leverage
Low leverage and a sizable equity base provide financial flexibility while Magnetite Mines advances its projects. Limited debt reduces interest and refinancing pressure, allowing more of the company’s available capital to support exploration and development rather than servicing creditors.
Read all positive factors
Magnetite Mines Limited (MGT) vs. iShares MSCI Australia ETF (EWA)
Market Cap
AU$3.44M
Dividend YieldN/A
Average Volume (3M)307.12K
Price to Earnings (P/E)―
Beta (1Y)0.84
Revenue GrowthN/A
EPS Growth43.89%
CountryAU
EmployeesN/A
SectorBasic Materials
Sector Strength58
IndustryIndustrial Materials
Share Statistics
EPS (TTM)-0.02
Shares Outstanding229,014,220
10 Day Avg. Volume456,412
30 Day Avg. Volume307,124
Financial Highlights & Ratios
PEG Ratio0.02
Price to Book (P/B)0.09
Price to Sales (P/S)0.00
P/FCF Ratio-1.71
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 ...
Magnetite Mines Limited Financial Statement Overview
Summary
Income Statement
12
Very Negative
Balance Sheet
64
Positive
Cash Flow
28
Negative
| Breakdown | Jun 2026 | Jun 2025 | Jun 2024 | Jun 2023 | Jun 2022 |
|---|---|---|---|---|---|
Income Statement | |||||
| Total Revenue | 0.00 | 1.22K | 214.49K | 212.59K | 195.44K |
| Gross Profit | -206.61K | 1.22K | 214.49K | -43.09K | 88.69K |
| EBITDA | -3.33M | -3.82M | -4.35M | -4.94M | -3.45M |
| Net Income | -3.91M | -4.19M | -4.85M | -5.33M | -3.66M |
Balance Sheet | |||||
| Total Assets | 43.27M | 41.30M | 38.23M | 38.97M | 45.79M |
| Cash, Cash Equivalents and Short-Term Investments | 2.01M | 1.49M | 1.21M | 5.13M | 19.35M |
| Total Debt | 2.79M | 3.20M | 117.33K | 2.42M | 2.21M |
| Total Liabilities | 3.84M | 4.31M | 1.38M | 3.66M | 6.44M |
| Stockholders Equity | 39.43M | 36.99M | 36.84M | 35.31M | 39.35M |
Cash Flow | |||||
| Free Cash Flow | -2.13M | -5.82M | -7.25M | -13.86M | -12.26M |
| Operating Cash Flow | -2.12M | -2.81M | -3.67M | -3.87M | -2.29M |
| Investing Cash Flow | -1.43M | -2.91M | -3.77M | -9.98M | -10.04M |
| Financing Cash Flow | 4.08M | 5.99M | 3.52M | -358.20K | 15.10M |
Magnetite Mines Limited Technical Analysis
Neutral
0.02
Price Trends
0.02
Positive
0.02
Negative
0.03
Negative
Market Momentum
>-0.01
Negative
52.28
Neutral
111.11
Negative
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For AU:MGT, the sentiment is Neutral. 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 0.03, indicating a neutral trend. The MACD of >-0.01 indicates Negative momentum. The RSI at 52.28 is Neutral, neither overbought nor oversold. The STOCH value of 111.11 is Negative, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Neutral 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% | |
46 Neutral | AU$28.04M | 150.00 | -0.13% | ― | ― | 97.78% | |
46 Neutral | AU$8.68M | -0.29 | -9.07% | ― | ― | 65.52% | |
45 Neutral | AU$22.49M | -0.62 | -34.45% | ― | ― | 59.26% | |
44 Neutral | AU$3.44M | -0.69 | -9.87% | ― | ― | 43.89% | |
44 Neutral | AU$13.78M | -5.56 | -3.39% | ― | ― | 10.00% | |
42 Neutral | AU$12.75M | -36.07 | -0.73% | 3.48% | 24.21% | 94.92% |
* Basic Materials Sector Average
AU:MGT
Magnetite Mines Limited
0.02
-0.05
-75.81%
AU:HIO
Hawsons Iron Ltd
0.01
-0.02
-65.52%
AU:VR8
Vanadium Resources Ltd.
0.04
<0.01
8.11%
AU:GEN
Genmin Ltd.
0.01
-0.01
-50.00%
AU:MGL
Magontec Limited
0.22
0.00
0.00%
AU:MIO
Macarthur Minerals Ltd.
0.02
-0.05
-66.18%
Magnetite Mines Limited Corporate Events
Magnetite Mines Sets Closing Date for Discounted Share Plan With Free Options
Oct 11, 2026
Magnetite Mines has reminded eligible shareholders that its Share Purchase Plan, which offers new shares at the lower of $0.015 or a 10% discount to the five-day VWAP, will close at 5:00pm Sydney time on 16 October 2026. Subject to shareholder app...
Magnetite Mines outlines target market for free attaching options under 2026 SPP
Oct 4, 2026
Magnetite Mines has released a target market determination for up to 68.7 million free attaching options to acquire ordinary shares, offered to eligible shareholders who participate in its 2026 share purchase plan. The options, exercisable at a 25...
Magnetite Mines Details Free-Attaching Options for SPP and Top-Up Placement
Oct 4, 2026
Magnetite Mines Limited has released an options prospectus detailing the issue of up to 68,704,266 options to participants in its share purchase plan and up to 57,253,555 options to investors in a related top-up placement. These options are to be ...
Magnetite Mines Opens Share Purchase Plan with Cleansing Notice to ASX
Oct 4, 2026
Magnetite Mines Limited has launched a share purchase plan, allowing eligible shareholders to apply for new fully paid ordinary shares without the need for a full disclosure document under Australian corporations law. The offer opens on 5 October ...
Magnetite Mines launches discounted $1m share purchase plan with free options
Oct 4, 2026
Magnetite Mines Limited has launched a partially underwritten share purchase plan offering eligible Australian and New Zealand shareholders up to $30,000 in new shares at a discount to market, targeting a $1 million raise with a $500,000 underwrit...
Magnetite Mines launches discounted share purchase plan with free options
Oct 4, 2026
Magnetite Mines Limited has opened a share purchase plan offering eligible shareholders in Australia and New Zealand the opportunity to buy up to $30,000 of new shares at a discount to recent trading prices, without brokerage or transaction costs....
Magnetite Mines Updates Corporate Governance Framework for 2026
Sep 30, 2026
Magnetite Mines Limited has detailed its corporate governance framework for the 2025–26 reporting period, confirming broad adherence to the ASX Corporate Governance Council’s fourth edition Principles and Recommendations. The company o...
Magnetite Mines Releases 2026 Annual Report
Sep 30, 2026
Magnetite Mines Limited has released its 2026 Annual Report, providing a comprehensive overview of its corporate governance, operations, financial performance, and capital structure. The report also includes audited financial statements and detail...
Magnetite Mines Unveils Share Purchase Plan and Option Placement
Sep 27, 2026
Magnetite Mines Limited has announced a proposed issue of securities under a securities purchase plan and a separate placement, together totaling up to approximately 137 million new securities. The offer includes ordinary fully paid shares and ass...
Magnetite Mines Launches Discounted Share Purchase Plan for Eligible Investors
Sep 27, 2026
Magnetite Mines Limited has launched a share purchase plan offering eligible shareholders the chance to subscribe for up to A$30,000 of new fully paid ordinary shares at a discount and without brokerage or transaction costs. The offer is optional,...
Magnetite Mines details equity raising to advance Razorback iron ore project
Sep 27, 2026
Magnetite Mines has released an equity raising presentation tied to a share purchase plan and broader capital raising announced in late September 2026, intended to support development of its Razorback Iron Ore Project and related activities. The c...
Magnetite Mines launches discounted share plan to fund Razorback iron ore push
Sep 27, 2026
Magnetite Mines has launched a partially underwritten share purchase plan to raise about $1 million, offering existing eligible shareholders discounted shares with free attaching options and no brokerage costs. The issue price will be set at the l...
Magnetite Mines streamlines Razorback iron ore plan in revised scoping study
Sep 4, 2026
Magnetite Mines has released a new scoping study for the Razorback Iron Ore Project that substantially revises the development plan to improve economics and reduce risk. The updated configuration retains conventional mining and processing but intr...
Magnetite Mines Plans Option Issue to Support Capital Needs
Aug 12, 2026
Magnetite Mines Limited has announced a proposed issue of options as part of a placement, with each option exercisable into one fully paid ordinary share at a price of A$0.015 and expiring three years from the issue date. The securities are to be ...
Magnetite Mines Extends $2.7m Convertible Notes to Bolster Razorback Funding Flexibility
Aug 12, 2026
Magnetite Mines Ltd is an ASX-listed iron ore developer focused on magnetite resources in South Australia’s Braemar Iron Formation, anchored by its 100%-owned Razorback Iron Ore Project capable of producing premium direct reduction grade con...
Magnetite Mines Resets Strategy and Funding for Razorback as Exploration Delivers Rare Earths and Gold Targets
Jul 30, 2026
Magnetite Mines has undertaken a strategic reset in the June quarter to preserve capital, cut cash burn and pursue lower-capital development options for its flagship Razorback Iron Ore Project, while continuing regulatory work and government engag...
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.