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Medallion Metals Ltd
(Sydney:MM8)
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Rating:45Neutral
Price Target:
AU$0.37
â–¼(-33.75% Downside)
Action:Reiterated
Date:10/24/26
The score is held down primarily by expanding losses and persistent, worsening cash burn despite a revenue rebound, indicating elevated execution and funding risk. Technicals also detract due to a clear downtrend (price below major moving averages and negative MACD), even though conditions appear oversold. A low-leverage balance sheet provides some offset, while valuation is difficult to assess meaningfully given negative earnings and no dividend data.
Positive Factors
Low Leverage
Very low leverage gives Medallion financial flexibility and limits the burden of interest and debt repayment while it advances its projects. The larger equity base also provides a stronger capital cushion, although continued losses could erode this advantage over time.
Negative Factors
Widening Operating Losses
The scale and worsening direction of operating losses show that revenue growth is not yet translating into a viable earnings model. Persistent losses can consume the equity base, reduce funding flexibility, and make continued exploration and development increasingly dependent on external capital.
Read all positive and negative factors
Positive Factors
Negative Factors
Low Leverage
Very low leverage gives Medallion financial flexibility and limits the burden of interest and debt repayment while it advances its projects. The larger equity base also provides a stronger capital cushion, although continued losses could erode this advantage over time.
Read all positive factors
Medallion Metals Ltd (MM8) vs. iShares MSCI Australia ETF (EWA)
Market Cap
AU$371.30M
Dividend YieldN/A
Average Volume (3M)1.22M
Price to Earnings (P/E)―
Beta (1Y)1.18
Revenue GrowthN/A
EPS Growth-62.33%
CountryAU
EmployeesN/A
SectorBasic Materials
Sector Strength58
IndustryOther Precious Metals
Share Statistics
EPS (TTM)-0.02
Shares Outstanding928,262,300
10 Day Avg. Volume1,326,993
30 Day Avg. Volume1,215,808
Financial Highlights & Ratios
PEG Ratio-0.12
Price to Book (P/B)2.75
Price to Sales (P/S)181.59
P/FCF Ratio-11.72
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price Target
AU$1.11Price Target Upside98.21% Upside
Rating ConsensusModerate Buy
Number of Analyst Covering1
EPS Forecast (FY)0.01
Revenue Forecast (FY)AU$57.93M
Medallion Metals Ltd Business Overview & Revenue Model
Company Description
Medallion Metals Limited is an Australian entity primarily engaged in the discovery and assessment of mineral resources throughout the country. The company's core exploration efforts are directed towards unearthing deposits rich in valuable metals...
How the Company Makes Money
null...
Medallion Metals Ltd Financial Statement Overview
Summary
Income Statement
24
Negative
Balance Sheet
67
Positive
Cash Flow
28
Negative
| Breakdown | Jun 2026 | Jun 2025 | Jun 2024 | Jun 2023 | Jun 2022 |
|---|---|---|---|---|---|
Income Statement | |||||
| Total Revenue | 1.31M | 1.11M | 1.86M | 3.03M | 2.14M |
| Gross Profit | 1.21M | 1.11M | 1.86M | 3.03M | 2.14M |
| EBITDA | -18.94M | -5.85M | -2.58M | -4.68M | -3.21M |
| Net Income | -18.56M | -6.13M | -2.94M | -5.09M | -3.60M |
Balance Sheet | |||||
| Total Assets | 140.48M | 28.93M | 16.42M | 15.59M | 15.93M |
| Cash, Cash Equivalents and Short-Term Investments | 54.02M | 9.46M | 1.71M | 423.51K | 1.84M |
| Total Debt | 389.85K | 2.92M | 2.93M | 4.10M | 4.04M |
| Total Liabilities | 54.21M | 5.00M | 4.48M | 5.77M | 6.04M |
| Stockholders Equity | 86.27M | 23.93M | 11.94M | 9.82M | 9.89M |
Cash Flow | |||||
| Free Cash Flow | -20.28M | -9.54M | -2.16M | -6.02M | -11.14M |
| Operating Cash Flow | -12.35M | -5.02M | -1.57M | -3.87M | -5.18M |
| Investing Cash Flow | -17.65M | -4.45M | -491.39K | -2.14M | -5.95M |
| Financing Cash Flow | 74.50M | 17.15M | 3.34M | 4.59M | 4.16M |
Medallion Metals Ltd Technical Analysis
Negative
0.56
Price Trends
0.50
Negative
0.47
Negative
0.45
Negative
Market Momentum
-0.03
Positive
34.38
Neutral
16.14
Positive
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For AU:MM8, the sentiment is Negative. The current price of 0.56 is above the 20-day moving average (MA) of 0.45, above the 50-day MA of 0.50, and above the 200-day MA of 0.45, indicating a bearish trend. The MACD of -0.03 indicates Positive momentum. The RSI at 34.38 is Neutral, neither overbought nor oversold. The STOCH value of 16.14 is Positive, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for AU:MM8.
Medallion Metals 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% | |
58 Neutral | AU$678.76M | -57.30 | -4.83% | 3.03% | ― | 30.19% | |
57 Neutral | AU$480.51M | -9.65 | -9.19% | 0.93% | 2.93% | 50.61% | |
47 Neutral | AU$314.45M | -52.72 | -4.32% | ― | ― | 5.15% | |
46 Neutral | AU$421.01M | -223.68 | -0.64% | ― | ― | 29.63% | |
45 Neutral | AU$371.30M | -17.27 | -21.51% | ― | ― | -62.33% | |
45 Neutral | AU$11.98M | -1.57 | -30.37% | ― | ― | -90.21% |
* Basic Materials Sector Average
AU:MM8
Medallion Metals Ltd
0.40
-0.02
-4.76%
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Medallion Metals Ltd Corporate Events
Medallion Metals Moves Toward Gold Production as Ravensthorpe and Forrestania Advance
Oct 19, 2026
Medallion Metals says development of its Ravensthorpe and Forrestania gold projects remains on schedule and within budget, marking a key phase in its shift from developer to producer. The company is set to begin processing third‑party ore at...
Medallion Metals Sets Key Dates for 2026 AGM and Director Nominations
Sep 29, 2026
Medallion Metals has scheduled its 2026 Annual General Meeting for Tuesday, 17 November 2026, complying with ASX Listing Rule 3.13.1. The meeting will include the re-election of a director as an item of business, highlighting a routine yet importa...
Medallion Metals awards $50m Cosmic Boy EPC as gold and copper projects advance
Aug 31, 2026
Medallion Metals has signed a $50 million engineering, procurement and construction contract with GR Engineering Services to convert the Cosmic Boy Concentrator into a standalone plant producing copper concentrate and gold doré. The deal, exe...
GR Engineering Wins $50m EPC Contract for Cosmic Boy Conversion
Aug 31, 2026
GR Engineering Services Limited has signed a $50 million engineering, procurement and construction contract with Myamba Minerals, a wholly owned subsidiary of Medallion Metals, to convert the existing Cosmic Boy Concentrator into a standalone faci...
Medallion Metals Confirms Compliance on 125 Million-Share Issue
Aug 27, 2026
Medallion Metals Limited has issued 125,000,000 ordinary shares and notified the market that these securities were issued without a prospectus under the disclosure exemptions in the Corporations Act. The company confirmed it remains compliant with...
Medallion Metals Seeks ASX Quotation for 125 Million New Shares
Aug 27, 2026
Medallion Metals Ltd has applied for quotation on the ASX of 125,000,000 new ordinary fully paid shares under its MM8 code. The securities, issued as part of previously announced transactions, expand the company’s listed capital base and may...
Medallion Metals Plans Major Share Placement on ASX
Aug 20, 2026
Medallion Metals Ltd has notified the ASX of a proposed placement of up to 125,000,000 ordinary fully paid shares. The new securities are scheduled for issue on 27 August 2026, with the company applying for their quotation in line with ASX Listing...
Medallion Metals Secures A$60m to Drive Ravensthorpe Development and Exploration
Aug 20, 2026
Medallion Metals has secured binding commitments for a A$60 million single-tranche share placement to high-quality, long-only resources investors, strongly supported by existing institutions. The funds, alongside existing cash and facilities, lift...
Medallion Metals Halts Trading Ahead of Capital Raising Announcement
Aug 18, 2026
Medallion Metals Ltd has requested and received a trading halt on its securities from the ASX, effective 19 August 2026, as it prepares to release a market announcement. The halt is scheduled to remain in place until the earlier of normal trading ...
Medallion Metals Extends High-Grade Gold at Lounge Lizard to Bolster Forrestania Growth
Aug 13, 2026
Medallion Metals has reported strong Slimline RC drilling results from the northern Lounge Lizard area at McMahon’s open pit within its Forrestania Gold Project in Western Australia. The programme confirmed historical data, extended known go...
Medallion Metals picks Macmahon for $240m Ravensthorpe underground contract
Aug 11, 2026
Medallion Metals has selected Macmahon Underground Pty Ltd as preferred tenderer for the underground mining contract at the Ravensthorpe Gold Project in Western Australia. The three‑year contract, expected to start in Q4 2026, is valued at a...
Medallion Metals Begins Airborne EM Survey at Ravensthorpe Gold Project
Aug 10, 2026
Medallion Metals has launched its first helicopter-borne airborne electromagnetic survey over the Ravensthorpe Gold Project in Western Australia. The program follows successful downhole electromagnetic work at the Kundip Mining Centre, where high-...
Medallion Metals Issues 3.5 Million New Shares Under Section 708A
Aug 5, 2026
Medallion Metals Ltd has issued 3,500,000 new ordinary shares, as previously flagged in its ASX filing, and has confirmed the issuance was conducted without a formal prospectus disclosure under the relevant part of the Corporations Act. The compan...
Medallion Metals Seeks ASX Quotation for 3.5 Million New Shares
Aug 5, 2026
Medallion Metals Ltd has lodged an application with the ASX for quotation of 3,500,000 ordinary fully paid shares. The new securities, to be traded under the existing MM8 ticker, were issued on 5 August 2026 and represent an expansion of the compa...
Medallion Metals outlines strategy to scale WA gold production
Aug 3, 2026
Medallion Metals Ltd has released a corporate presentation outlining its strategy to become a scalable gold producer in Western Australia, emphasising its portfolio of exploration results, mineral resources and ore reserves. The company reiterates...
Medallion Metals Wins Final Approval to Start Ravensthorpe Gold Production
Aug 2, 2026
Medallion Metals has secured all key regulatory approvals required to commence development of the Ravensthorpe Gold Project, including the Mining Development and Closure Plan and a Section 45C amendment to Ministerial Statement 1143. With permitti...
Medallion Metals Advances Drilling and Mine Development Across WA Gold Projects
Jul 30, 2026
Medallion Metals reported significant progress in the June 2026 quarter at its Ravensthorpe Gold Project, completing around 16,500 metres of drilling to firm up the early mine plan and test resource extensions. Confirmatory drilling at the Gem and...
Medallion Metals Extends High-Grade Gem Deposit at Ravensthorpe
Jul 26, 2026
Medallion Metals has reported a series of outstanding high-grade gold and copper intercepts from recent reverse circulation and diamond drilling at the Kundip Mining Centre, part of its Ravensthorpe Gold Project in Western Australia. The latest pr...
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.