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NGX Limited
(Sydney:NGX)
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Rating:46Neutral
Price Target:
AU$0.13
▼(-25.29% Downside)
Action:Reiterated
Date:10/31/26
The score is held down primarily by weak financial performance—persistent losses, unstable/limited revenue, and ongoing cash burn—despite a relatively low-leverage balance sheet. Technicals are supportive (price above moving averages and positive MACD) but appear overbought (high RSI/Stoch), while valuation remains constrained by negative earnings and no stated dividend yield.
Positive Factors
Market Infrastructure Platform
NGX supports multiple stages of Nigerian capital-market activity through exchange, clearing, settlement, technology and data services. This integrated infrastructure role can create operational relevance across market participants and provide a durable platform for future activity.
Negative Factors
Persistent Net Losses
Recurring losses across the full 2021–2026 period show that NGX has not yet demonstrated a sustainable profit model. Continued losses reduce retained resources, weaken returns on the capital base, and can limit the company’s ability to fund growth internally.
Read all positive and negative factors
Positive Factors
Negative Factors
Market Infrastructure Platform
NGX supports multiple stages of Nigerian capital-market activity through exchange, clearing, settlement, technology and data services. This integrated infrastructure role can create operational relevance across market participants and provide a durable platform for future activity.
Read all positive factors
NGX Limited (NGX) vs. iShares MSCI Australia ETF (EWA)
Market Cap
AU$11.78M
Dividend YieldN/A
Average Volume (3M)119.95K
Price to Earnings (P/E)―
Beta (1Y)0.41
Revenue GrowthN/A
EPS Growth9.42%
CountryAU
Employees15
SectorBasic Materials
Sector Strength58
IndustryIndustrial Materials
Share Statistics
EPS (TTM)-0.03
Shares Outstanding90,611,840
10 Day Avg. Volume197,088
30 Day Avg. Volume119,955
Financial Highlights & Ratios
PEG Ratio0.22
Price to Book (P/B)1.01
Price to Sales (P/S)0.00
P/FCF Ratio-3.77
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
NGX Limited Business Overview & Revenue Model
Company Description
NGX Limited is primarily engaged in advancing and exploring graphite deposits situated in Malawi. The company possesses full ownership of four distinct graphite ventures within Malawi: the Nanzeka, Duwi, Malingunde, and Mabuwa projects. Establishe...
NGX Limited Financial Statement Overview
Summary
Income Statement
9
Very Negative
Balance Sheet
46
Neutral
Cash Flow
12
Very Negative
| Breakdown | Jun 2026 | Jun 2025 | Jun 2024 | Jun 2023 | Jun 2022 |
|---|---|---|---|---|---|
Income Statement | |||||
| Total Revenue | 0.00 | 233.18K | 0.00 | 0.00 | 0.00 |
| Gross Profit | -18.36K | 233.18K | 0.00 | 0.00 | -135.92K |
| EBITDA | -2.35M | -2.47M | -2.69M | -1.51M | 0.00 |
| Net Income | -2.27M | -2.50M | -2.39M | -3.49M | -585.10K |
Balance Sheet | |||||
| Total Assets | 8.32M | 10.50M | 12.82M | 15.36M | 40.00 |
| Cash, Cash Equivalents and Short-Term Investments | 1.65M | 3.81M | 5.98M | 8.75M | 0.00 |
| Total Debt | 0.00 | 0.00 | 0.00 | 34.85K | 549.72K |
| Total Liabilities | 257.64K | 167.26K | 139.49K | 350.21K | 694.54K |
| Stockholders Equity | 8.06M | 10.34M | 12.68M | 15.01M | -694.50K |
Cash Flow | |||||
| Free Cash Flow | -2.16M | -2.24M | -2.72M | -932.05K | 0.00 |
| Operating Cash Flow | -2.16M | -2.24M | -2.55M | -929.88K | 0.00 |
| Investing Cash Flow | 0.00 | 70.43K | -170.65K | 142.02K | 0.00 |
| Financing Cash Flow | 0.00 | 0.00 | -34.85K | 9.54M | 0.00 |
NGX Limited Technical Analysis
Positive
0.17
Price Trends
0.08
Positive
0.08
Positive
0.09
Positive
Market Momentum
0.01
Negative
81.09
Negative
82.05
Negative
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For AU:NGX, the sentiment is Positive. The current price of 0.17 is above the 20-day moving average (MA) of 0.08, above the 50-day MA of 0.08, and above the 200-day MA of 0.09, indicating a bullish trend. The MACD of 0.01 indicates Negative momentum. The RSI at 81.09 is Negative, neither overbought nor oversold. The STOCH value of 82.05 is Negative, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for AU:NGX.
NGX 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$5.53M | -2.11 | -8.75% | ― | ― | -132.95% | |
46 Neutral | AU$11.78M | -5.12 | -26.42% | ― | ― | 9.42% | |
46 Neutral | AU$4.21M | -0.49 | >-0.01% | ― | ― | 44.59% | |
43 Neutral | AU$7.83M | -2.94 | -910.57% | ― | ― | -17.24% | |
42 Neutral | AU$3.49M | -0.19 | -122.57% | ― | ― | 17.72% | |
39 Underperform | AU$3.69M | -0.56 | -586.39% | ― | ― | 57.14% |
* Basic Materials Sector Average
AU:NGX
NGX Limited
0.13
-0.04
-23.53%
AU:YAR
Consolidated Zinc Limited
0.01
0.00
0.00%
AU:CMO
Cosmo Metals Limited
0.01
-0.01
-50.00%
AU:GES
Genesis Resources Limited
0.01
0.00
0.00%
AU:IMI
Infinity Mining Limited
0.01
0.00
0.00%
AU:ADC
ACDC Metals Ltd
0.05
-0.02
-35.21%
NGX Limited Corporate Events
NGX Secures District-Scale Namibian Gold and Copper Ground, Advances Malawi Rutile
Oct 29, 2026
NGX Limited has secured rights to acquire up to 85% of seven exploration licences in Namibia’s Damara Belt, creating the Erongo Gold Project with a consolidated land package of more than 1,300km² near WIA Gold’s Kokoseb discovery ...
NGX Limited Plans Multi-Tranche 2029 Option Issue on ASX
Oct 26, 2026
NGX Limited has notified the ASX of a proposed issue of new options as part of a placement or similar capital raising or incentive arrangement, with three tranches of options expiring on 30 June 2029 at exercise prices of $0.10, $0.15 and $0.20 re...
NGX Limited Plans 60 Million-Share Placement on ASX
Oct 26, 2026
NGX Limited, listed on the ASX under the code NGX, is an issuer of ordinary fully paid shares and maintains its funding through capital market transactions. Although the announcement does not outline its specific sector or operations, the company&...
ASX Lifts Suspension on NGX After Acquisition and Capital Raising Plan
Oct 26, 2026
The ASX has lifted the suspension on trading in NGX Limited’s securities, allowing the company’s shares to resume quotation on the market. This reinstatement follows NGX’s release of an announcement outlining a proposed acquisiti...
NGX Secures District-Scale Gold and Copper Positions in Namibia
Oct 26, 2026
NGX Limited has secured rights to acquire up to an 85% interest in seven exploration licences in Namibia’s Damara Gold Belt, consolidating a district-scale Erongo Gold Project of more than 1,300km² near WIA Gold’s Kokoseb discover...
NGX Seeks Voluntary ASX Suspension Ahead of Acquisition and Capital Raising
Oct 21, 2026
NGX Limited has requested and received an immediate voluntary suspension of trading in its securities on the ASX, implemented under Listing Rule 17.2 by ASX Supervision. The suspension will remain in place until either the company releases a marke...
NGX Requests ASX Trading Halt Ahead of Acquisition and Capital Raising Update
Oct 19, 2026
NGX Limited has requested an immediate trading halt in its securities on the ASX, with the suspension to remain in place until the company releases a market announcement or normal trading resumes on 22 October 2026. The halt follows NGX’s di...
NGX Limited Files Appendix 4G, Confirms Updated Corporate Governance Statement
Sep 28, 2026
NGX Limited has lodged its Appendix 4G and confirmed that its updated corporate governance statement for the year ended 30 June 2026 is available on its website, in line with ASX Listing Rules. The filing outlines the company’s adherence to ...
NGX Limited Publishes 2026 Annual Report Highlighting Governance and Financial Disclosures
Sep 28, 2026
NGX Limited has released its Annual Report for 2026, outlining its corporate governance framework, financial statements and key statutory disclosures. The report details the directors’ report, audited financial results, statements of financi...
NGX Sets AGM Date and Deadline for Director Nominations
Sep 18, 2026
NGX Limited has scheduled its Annual General Meeting for Tuesday, 17 November 2026, in line with ASX Listing Rule 3.13.1 and the company’s constitution. The meeting will include the re-election of directors, reflecting the company’s ro...
NGX Advances African Exploration and Maintains Debt-Free Balance Sheet
Jul 31, 2026
NGX Limited reported progress in its June 2026 quarter, advancing exploration in Malawi where a hand-auger drilling program at the Msinja prospect identified high-grade shallow rutile in most holes, while results at Lifidzi were weaker. The proxim...
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.