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Horizon Minerals Ltd
(Sydney:MRT)
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Rating:64Neutral
Price Target:
AU$0.68
▼(-45.24% Downside)
Action:Reiterated
Date:09/26/26
The score is primarily supported by the strong 2026 financial rebound and a conservatively levered balance sheet, with additional support from a very low P/E. Offsetting these positives, technical indicators point to weak momentum and the financial turnaround still carries sustainability risk given historical volatility and cash-flow inconsistency.
Positive Factors
Strong Balance Sheet
Very low leverage and a materially expanded equity base provide financial resilience for advancing gold projects. This gives Horizon more capacity to fund exploration and development internally and reduces balance-sheet pressure during commodity or project-cycle volatility.
Negative Factors
Historical Earnings Volatility
Despite the 2026 rebound, Horizon recorded sizable losses across 2022–2025. That history indicates earnings power has not yet been consistent, making project funding and longer-term planning more exposed to another deterioration in profitability.
Read all positive and negative factors
Positive Factors
Negative Factors
Strong Balance Sheet
Very low leverage and a materially expanded equity base provide financial resilience for advancing gold projects. This gives Horizon more capacity to fund exploration and development internally and reduces balance-sheet pressure during commodity or project-cycle volatility.
Read all positive factors
Horizon Minerals Ltd (MRT) vs. iShares MSCI Australia ETF (EWA)
Market Cap
AU$238.65M
Dividend YieldN/A
Average Volume (3M)764.49K
Price to Earnings (P/E)2.5
Beta (1Y)2.01
Revenue Growth118.61%
EPS GrowthN/A
CountryAU
Employees1
SectorBasic Materials
Sector Strength58
IndustryGold
Share Statistics
EPS (TTM)0.26
Shares Outstanding372,883,200
10 Day Avg. Volume672,425
30 Day Avg. Volume764,488
Financial Highlights & Ratios
PEG Ratio>-0.01
Price to Book (P/B)0.44
Price to Sales (P/S)1.90
P/FCF Ratio33.64
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)-0.14
Revenue Forecast (FY)N/A
Horizon Minerals Ltd Business Overview & Revenue Model
Company Description
Maritana Minerals Limited is an Australian company dedicated to the discovery, advancement, and extraction of gold and various other mineral resources. Its primary focus lies in identifying deposits of gold, nickel, cobalt, silver, and zinc. The c...
Horizon Minerals Ltd Financial Statement Overview
Summary
Income Statement
66
Positive
Balance Sheet
84
Very Positive
Cash Flow
52
Neutral
| Breakdown | Jun 2026 | Jun 2025 | Jun 2024 | Jun 2023 | Jun 2022 |
|---|---|---|---|---|---|
Income Statement | |||||
| Total Revenue | 80.57M | 36.85M | 6.61M | 81.88K | 3.32M |
| Gross Profit | 15.93M | 6.28M | 6.61M | 81.25K | 1.26M |
| EBITDA | 23.06M | -10.13M | -1.70M | 2.81M | -27.54M |
| Net Income | 62.89M | -23.85M | -3.46M | -1.01M | -28.03M |
Balance Sheet | |||||
| Total Assets | 407.79M | 195.01M | 58.93M | 44.74M | 46.48M |
| Cash, Cash Equivalents and Short-Term Investments | 230.80M | 15.70M | 4.29M | 5.62M | 5.41M |
| Total Debt | 356.99K | 8.11M | 8.23M | 6.97M | 86.20K |
| Total Liabilities | 62.14M | 110.94M | 12.66M | 9.44M | 6.48M |
| Stockholders Equity | 345.66M | 84.07M | 46.27M | 35.29M | 40.00M |
Cash Flow | |||||
| Free Cash Flow | 4.55M | -25.20M | -5.95M | -13.04M | -9.25M |
| Operating Cash Flow | 8.62M | -15.17M | -5.02M | -6.81M | -2.39M |
| Investing Cash Flow | 17.99M | -6.13M | 3.75M | -3.96M | -7.13M |
| Financing Cash Flow | 187.18M | 32.70M | -785.67K | 10.98M | 3.62M |
Horizon Minerals Ltd Technical Analysis
Negative
1.24
Price Trends
0.73
Negative
0.69
Negative
0.86
Negative
Market Momentum
-0.03
Positive
35.53
Neutral
20.40
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For AU:MRT, the sentiment is Negative. The current price of 1.24 is above the 20-day moving average (MA) of 0.70, above the 50-day MA of 0.73, and above the 200-day MA of 0.86, indicating a bearish trend. The MACD of -0.03 indicates Positive momentum. The RSI at 35.53 is Neutral, neither overbought nor oversold. The STOCH value of 20.40 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for AU:MRT.
Horizon Minerals Ltd Peers Comparison
UnderperformOutperform
Sector (61)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
78 Outperform | AU$354.88M | 7.50 | 51.83% | 4.92% | 60.14% | ― | |
75 Outperform | AU$267.59M | 3.47 | 25.21% | 3.95% | 28.38% | 127.83% | |
64 Neutral | AU$238.65M | 2.47 | 26.58% | ― | 118.61% | ― | |
61 Neutral | $10.43B | 7.12 | -0.05% | 2.87% | 2.86% | -36.73% | |
54 Neutral | AU$349.77M | -32.50 | -5.89% | ― | ― | 9.68% | |
41 Neutral | AU$254.58M | -27.51 | -12.57% | ― | ― | 59.02% |
* Basic Materials Sector Average
AU:MRT
Horizon Minerals Ltd
0.64
-0.63
-49.60%
AU:BCN
Beacon Minerals
3.05
0.56
22.39%
AU:TGM
Theta Gold Mines
0.19
-0.02
-7.50%
AU:TBR
Tribune Resources Limited
5.03
-2.24
-30.85%
AU:STN
Saturn Metals Ltd.
0.46
-0.12
-20.87%
Horizon Minerals Ltd Corporate Events
Maritana Minerals Plans Share Placement to Raise New Capital
Oct 14, 2026
Maritana Minerals Limited has lodged a new Appendix 3B with the ASX outlining a proposed placement of up to 354,023 ordinary fully paid shares. The securities are to be issued and quoted on 14 October 2026, indicating a targeted capital raise to s...
Maritana Minerals Sets Date and Governance Agenda for 2026 AGM
Oct 7, 2026
Maritana Minerals has scheduled its 2026 Annual General Meeting for Friday, 27 November 2026 at 2 p.m., with full agenda details to be provided separately to shareholders and made available via the ASX announcements platform and the company’...
Horizon Minerals flags Goldfields growth ambitions amid strict disclosure caveats
Sep 28, 2026
Horizon Minerals has released an investor presentation positioning itself as the next standalone gold producer in the Western Australian Goldfields, outlining its assets and resource base under the JORC Code framework. The document is framed as su...
Maritana Minerals Files Updated Corporate Governance Statement and Appendix 4G
Sep 24, 2026
Maritana Minerals has released its updated corporate governance statement for the year ended 30 June 2026, confirming it is available on the company’s website and current as of 22 September 2026. The statement outlines the extent to which th...
Maritana Minerals Lifts ASX Governance Compliance With New 2026 Framework
Sep 24, 2026
Maritana Minerals has overhauled its corporate governance framework for the financial year ended 30 June 2026, implementing a new Corporate Governance Plan that consolidates key charters and policies, including its Board Charter, Code of Conduct a...
Horizon Minerals Details Governance Structure in 2026 Annual Report
Sep 24, 2026
The annual report for 2026 from Horizon Minerals Ltd focuses on corporate governance and administrative details, including the composition of its board, company secretaries, and key office locations. It confirms the company’s listing on the ...
Maritana extends Boorara gold mineralisation, paving way for resource upgrade
Sep 24, 2026
Maritana Minerals has reported new reverse circulation drilling results from its Boorara Gold Project east of Kalgoorlie that extend gold mineralisation below the planned floor of Pit 4. The drilling, part of a broader 60,000 metre resource conver...
Maritana Minerals Relocates Registered Office to West Perth Hub
Sep 17, 2026
Maritana Minerals Limited has announced a change to its registered office and principal place of business, relocating to Level 4, Westcentre, 1260 Hay Street in West Perth, Western Australia, effective 21 September 2026. The company has confirmed ...
Maritana Minerals Seeks ASX Quotation for New Share Issue
Sep 15, 2026
Maritana Minerals Limited has lodged a new Appendix 2A with the ASX, applying for quotation of 347,797 ordinary fully paid shares issued on September 14, 2026. The securities arise from previously announced transactions and their quotation will mo...
Maritana Minerals Issues New Shares as Payment for Drilling Services
Sep 15, 2026
Maritana Minerals Limited has issued 347,797 fully paid ordinary shares to drilling contractor Raglan Drilling Pty Ltd, using a deemed issue price of $0.6961 per share based on the 10‑day volume‑weighted average price across drilling i...
Maritana Minerals Plans Modest Share Placement on ASX
Sep 14, 2026
Maritana Minerals Limited has announced a proposed issue of new ordinary fully paid shares through a placement on the Australian Securities Exchange. The company plans to issue up to 347,797 MRT securities, with the placement scheduled to occur on...
Horizon Minerals Notes Expiry of Director Options
Sep 10, 2026
Horizon Minerals Ltd, formerly Maritana Minerals Limited, operates in the resources sector, focusing on exploration and development of mineral assets. The company’s securities are listed on the ASX, and its capital structure includes fully p...
Maritana Minerals boosts ASX-listed share capital with new issue
Sep 8, 2026
Maritana Minerals Limited has applied for quotation of 60,906 new ordinary fully paid shares on the ASX, expanding its listed securities base. The issuance follows the exercise or conversion of existing options or other convertible securities, mod...
Encore Greenlights Windarra Tailings Deal, Boosting Maritana’s Cash Flow and Gold Exposure
Sep 7, 2026
Encore Minerals has made a positive Final Investment Decision on the Windarra Tailings Project, triggering the development phase for processing gold tailings from Windarra and nearby Lancefield using Draslovka’s proprietary glycine leaching ...
Maritana Minerals Lifts Gold Reserves with Maiden Rose Hill Underground Ore Estimate
Aug 30, 2026
Maritana Minerals has declared a maiden underground ore reserve for its Rose Hill Project near Coolgardie, Western Australia, marking a key step in moving the project toward development. The reserve totals 420,000 tonnes at 2.34 grams per tonne of...
Maritana Extends High-Grade Burbanks Gold Mineralisation With Phase 2 Drilling
Aug 26, 2026
Maritana Minerals reported that Phase 2 drilling at its high-grade Burbanks Gold Project has extended underground mineralisation below the Main Lode, with recent assays delivering further high-grade gold intercepts. The program, which follows an e...
Maritana Minerals Seeks ASX Quotation for Additional Ordinary Shares
Aug 26, 2026
Maritana Minerals Ltd has lodged an application with the ASX for quotation of 2,227 new fully paid ordinary shares under ticker MRT. The modest issuance, arising from the conversion of existing options or other convertible securities, slightly inc...
Maritana boosts gold reserves and sharpens focus on WA goldfields
Aug 19, 2026
Maritana Minerals reported a 6.3% increase in Gold Mineral Resources to 1.86 million ounces and a 148% jump in Gold Ore Reserves to 204,000 ounces for the year to 30 June 2026, after mining depletion. The uplift was driven by maiden open-pit reser...
Maritana Minerals Issues Shares to Acquire Nano Metals Tenements
Aug 17, 2026
Maritana Minerals has issued 509,259 fully paid ordinary shares at a deemed price of $1.08 per share as consideration for the acquisition of tenements from Nano Metals, strengthening its exploration asset base. The company stated that the shares w...
Maritana Minerals Seeks ASX Quotation for New Share Issue
Aug 17, 2026
Maritana Minerals Limited has applied for quotation on the ASX of 509,259 ordinary fully paid shares under the code MRT, with an issue date of 14 August 2026. The additional securities, lodged via an Appendix 2A application, expand the companyR...
Maritana Minerals Begins First Major Gold Drilling at Wilsons Near Black Swan Hub
Aug 6, 2026
Maritana Minerals has launched a 4,000-metre aircore drilling program at the Wilsons Gold Prospect, located about 400 metres north of the Black Swan Processing Hub in Western Australia’s Eastern Goldfields. The campaign represents the first ...
Maritana Minerals Seeks ASX Quotation for Additional Shares
Aug 6, 2026
Maritana Minerals has applied to the ASX for quotation of 66,667 new ordinary fully paid shares, expanding its listed securities under code MRT. The shares, issued on 6 August 2026 and linked to a previously announced transaction, modestly increas...
Horizon Minerals outlines WA Goldfields growth ambitions with strong regulatory caveats
Aug 3, 2026
Horizon Minerals Ltd, also referred to as Maritana Minerals Ltd, is an Australian gold mining company focused on developing JORC-compliant ore reserves and mineral resources in the WA Goldfields, with ambitions to become the region’s next st...
Maritana Minerals Bolstered by Asset Sales and Equity Raising Amid Heavy Exploration Spend
Jul 21, 2026
Maritana Minerals reported a net operating cash outflow of A$3.1 million for the June 2026 quarter despite strong year‑to‑date gold sales of A$74.7 million and interest income, as operating payments for production, exploration, staff a...
Maritana Minerals Lists Additional Shares on ASX
Jul 15, 2026
Maritana Minerals Limited has lodged a new application with the ASX for quotation of additional ordinary fully paid shares. The filing covers the listing of 514 new MRT securities issued on July 14, 2026, slightly expanding the company’s tra...
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.