Want to see AU:NMG full AI Analyst Report?
Top Page
Ora Gold
(Sydney:NMG)
Select Model
Select Model
Rating:74Outperform
Price Target:
AU$0.07
â–²(32.00% Upside)
Action:Reiterated
Date:10/02/26
The score is driven primarily by a major 2026 financial turnaround with exceptional margins, strong free cash flow, and very low leverage. This is tempered by a volatile multi-year history of losses and cash burn that raises durability risk, while technical indicators are mixed/neutral. Valuation is supportive due to the low P/E, with no dividend yield data available.
Positive Factors
Revenue and profit inflection
The sharp 2026 increase in revenue and profitability indicates a substantial improvement in operating performance and earnings capacity. If the step-change proves repeatable, the resulting margins could support stronger internal funding, business expansion, and improved competitive positioning over the next several quarters.
Negative Factors
Unproven earnings durability
The latest earnings improvement is not yet supported by a long record of consistent performance. A history of minimal revenue and losses makes it difficult to establish whether the 2026 revenue and margin levels are durable, increasing the risk that future results could normalize materially lower.
Read all positive and negative factors
Positive Factors
Negative Factors
Revenue and profit inflection
The sharp 2026 increase in revenue and profitability indicates a substantial improvement in operating performance and earnings capacity. If the step-change proves repeatable, the resulting margins could support stronger internal funding, business expansion, and improved competitive positioning over the next several quarters.
Read all positive factors
Ora Gold (NMG) vs. iShares MSCI Australia ETF (EWA)
Market Cap
AU$700.65M
Dividend Yield0%
Average Volume (3M)28.52M
Price to Earnings (P/E)5.1
Beta (1Y)0.84
Revenue Growth1594866.18%
EPS GrowthN/A
CountryAU
Employees9
SectorBasic Materials
Sector Strength58
IndustryOther Precious Metals
Share Statistics
EPS (TTM)N/A
Shares Outstanding10,947,705,000
10 Day Avg. Volume18,753,204
30 Day Avg. Volume28,524,502
Financial Highlights & Ratios
PEG Ratio<0.01
Price to Book (P/B)2.08
Price to Sales (P/S)1.20
P/FCF Ratio2.25
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
Ora Gold Business Overview & Revenue Model
Company Description
New Murchison Gold Limited engages in the mineral exploration activities in Australia. The company primarily explores for gold. Its flagship property is the Garden Gully property consisting of 677 square kilometers tenure package located in the Ab...
How the Company Makes Money
null...
Ora Gold Financial Statement Overview
Summary
Income Statement
86
Very Positive
Balance Sheet
83
Very Positive
Cash Flow
71
Positive
| Breakdown | TTM | Jun 2026 | Sep 2025 | Sep 2024 | Sep 2023 | Sep 2022 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 219.29M | 362.82M | 17.96M | 13.75K | 24.03K | 378.00 |
| Gross Profit | 150.41M | 244.72M | 8.34M | 0.00 | 24.03K | -12.57K |
| EBITDA | 161.91M | 263.51M | 7.16M | -2.59M | -1.97M | -2.05M |
| Net Income | 126.74M | 195.93M | 4.79M | -2.71M | -2.16M | -2.31M |
Balance Sheet | ||||||
| Total Assets | 232.08M | 270.18M | 77.11M | 14.75M | 7.11M | 243.69K |
| Cash, Cash Equivalents and Short-Term Investments | 155.65M | 201.73M | 19.75M | 3.39M | 2.30M | 108.74K |
| Total Debt | 370.00K | 1.16M | 479.43K | 112.27K | 165.36K | 4.32M |
| Total Liabilities | 50.65M | 61.49M | 18.87M | 1.09M | 2.14M | 4.64M |
| Stockholders Equity | 181.42M | 208.68M | 58.24M | 13.66M | 4.97M | -4.39M |
Cash Flow | ||||||
| Free Cash Flow | 133.86M | 192.35M | -10.47M | -3.24M | -4.10M | -2.06M |
| Operating Cash Flow | 141.28M | 195.20M | -3.80M | -3.18M | -765.88K | -905.95K |
| Investing Cash Flow | -22.10M | -13.86M | -18.00M | -6.17M | -3.67M | -1.14M |
| Financing Cash Flow | 15.02M | 641.00K | 38.15M | 10.44M | 6.63M | 1.90M |
Ora Gold Technical Analysis
Positive
0.05
Price Trends
0.07
Negative
0.06
Positive
0.06
Positive
Market Momentum
>-0.01
Negative
50.66
Neutral
75.00
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For AU:NMG, the sentiment is Positive. The current price of 0.05 is below the 20-day moving average (MA) of 0.06, below the 50-day MA of 0.07, and below the 200-day MA of 0.06, indicating a neutral trend. The MACD of >-0.01 indicates Negative momentum. The RSI at 50.66 is Neutral, neither overbought nor oversold. The STOCH value of 75.00 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for AU:NMG.
Ora Gold Peers Comparison
UnderperformOutperform
Sector (61)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
78 Outperform | AU$731.21M | 8.38 | 19.73% | 2.35% | 39.82% | 68.86% | |
74 Outperform | AU$700.65M | 5.13 | 105.77% | 0.00% | 1594866.18% | ― | |
61 Neutral | $10.43B | 7.12 | -0.05% | 2.87% | 2.86% | -36.73% | |
51 Neutral | AU$153.89M | -8.39 | -13.99% | ― | ― | -93.75% | |
42 Neutral | AU$251.98M | -106.11 | -3.69% | ― | ― | 87.36% |
* Basic Materials Sector Average
AU:NMG
Ora Gold
0.06
0.03
100.00%
AU:AMI
Aurelia Metals
0.43
0.19
77.82%
AU:GBR
Great Boulder Resources Ltd
0.08
<0.01
4.00%
AU:AUE
Aurum Resources Limited
0.49
-0.07
-12.61%
Ora Gold Corporate Events
New Murchison Gold Corrects Director Shareholding Disclosure
Oct 26, 2026
New Murchison Gold Limited has issued a correction to an Appendix 3Y Change of Director’s Interest Notice previously lodged with the ASX. The company clarified that the opening balance of ordinary shares held indirectly by chairman Rick Crab...
New Murchison Gold Issues 47.5m Shares via Option and Rights Conversion
Oct 26, 2026
New Murchison Gold Limited has issued 47.5 million fully paid ordinary shares following the exercise and conversion of previously issued unlisted options and performance rights, modestly increasing its share count and potentially enhancing liquidi...
Ora Gold Director Rick Crabb Increases Stake Through Option Exercise
Oct 26, 2026
Ora Gold has disclosed a change in director Rick W. Crabb’s indirect interest in the company, following the exercise of 10,000,000 unquoted options. Crabb paid $87,000 to convert these options into ordinary fully paid shares, strengthening h...
New Murchison Gold Expands ASX-Quoted Share Base
Oct 26, 2026
New Murchison Gold Limited has applied to the ASX for quotation of 47,500,000 new ordinary fully paid shares under the code NMG, with an issue date of October 23, 2026. The substantial increase in quoted securities signals an expansion of the comp...
New Murchison Gold lifts cash, declares maiden dividend as Crown Prince ramps up
Oct 21, 2026
New Murchison Gold reported a solid September quarter from its Crown Prince operations, selling 160,483 tonnes of ore grading 2.2 grams per tonne gold and containing 10,837 ounces, taking 12‑month ore sales to 65,789 ounces since mining bega...
New Murchison Gold Declares Maiden Dividend on Strong Gold Mine Performance
Oct 21, 2026
New Murchison Gold Limited has declared its first dividend to shareholders, driven by strong operational performance since commencing mining at the Crown Prince open pit gold mine. The maiden fully franked dividend of AUD 0.0025 per ordinary share...
New Murchison Gold Doubles Airstrip Strike as High‑Grade Results Extend Mineralised Corridor
Oct 19, 2026
New Murchison Gold has reported strong drilling results from the Airstrip prospect at its Garden Gully Gold Project, with multiple high‑grade gold intercepts at Airstrip East and West extending the known mineralisation. The Airstrip East min...
New Murchison Gold Sets Hybrid AGM for November 2026
Oct 19, 2026
New Murchison Gold Limited has called its annual general meeting for 24 November 2026 at 10:00am AWST, to be held as a hybrid event in Perth and online via the Computershare Meeting Platform. The company has set 22 November 2026 as the record date...
New Murchison Gold Issues Long-Dated Employee Performance Rights
Oct 9, 2026
New Murchison Gold Limited has notified the ASX of the issue of a substantial tranche of unquoted employee performance rights, with new classes of securities expiring between June 2028 and September 2029. The performance rights, which total nearly...
New Murchison Gold Executives Vest Performance Rights After 390% TSR Surge
Oct 9, 2026
New Murchison Gold has announced that 60,000,000 Tranche 4 Performance Rights held by its chief executive and chief financial officer have vested, following the achievement of the required Total Shareholder Return hurdle. The rights, which can now...
New Murchison Gold Sets AGM Date and Director Nomination Deadline
Sep 25, 2026
New Murchison Gold Limited has scheduled its Annual General Meeting for 10:00am AWST on Tuesday, 24 November 2026, with full meeting details and resolutions to be outlined in a forthcoming notice of meeting and explanatory memorandum published via...
New Murchison Gold Details 2026 Transitional Annual Report
Sep 24, 2026
New Murchison Gold Limited, an ASX-listed gold explorer and developer based in West Perth, focuses on advancing mineral resources in Western Australia’s Murchison region. The company’s governance and compliance framework is supported b...
New Murchison Gold Sets Out 2026 Corporate Governance Framework
Sep 24, 2026
New Murchison Gold Limited has outlined its corporate governance framework for the nine months to 30 June 2026, confirming broad adherence to the ASX Corporate Governance Council’s latest principles. The company discloses that where it diver...
New Murchison Gold Lifts Resources and Reserves at Crown Prince
Sep 23, 2026
New Murchison Gold reported an updated Mineral Resources and Ore Reserves statement for the year ended 30 June 2026, highlighting a successful first year of mining at its Crown Prince operation. The group’s total Mineral Resources now stand ...
New Murchison Gold Seeks ASX Quotation for 5 Million New Shares
Sep 21, 2026
New Murchison Gold Limited, an ASX-listed gold company trading under the code NMG, operates in the Australian gold exploration and mining sector. The business is oriented toward expanding its gold resource base and enhancing its market position th...
New Murchison Gold Seeks ASX Quotation for 10 Million New Shares
Sep 17, 2026
New Murchison Gold Limited has applied for quotation of 10 million new ordinary fully paid shares on the ASX, with the securities to be issued on September 17, 2026. The application underlines the company’s continued use of equity issuance t...
Ora Gold Director Adjusts Indirect Share and Option Holdings
Sep 9, 2026
New Murchison Gold Limited has reported changes in the indirect holdings of director Malcolm R. J. Randall, via Renique Holdings Pty Ltd, over the period from 4 September to 9 September 2026. The director’s superannuation-related entity exer...
New Murchison Gold Boosts Share Capital with Option Conversions
Sep 9, 2026
New Murchison Gold Limited has issued 10,000,000 fully paid ordinary shares following the exercise and conversion of previously issued unlisted options. The new shares have been applied for quotation on the ASX, modestly increasing the companyR...
New Murchison Gold Expands Equity Base With 10 Million New ASX Shares
Sep 9, 2026
New Murchison Gold Limited has applied for the quotation of 10,000,000 new ordinary fully paid shares on the ASX, with an issue date of September 8, 2026. The application under the ASX Listing Rules Appendix 2A indicates the securities arise from ...
New Murchison Gold Boosts Capital Through Incentive Plan Share Conversion
Aug 14, 2026
New Murchison Gold Limited has issued 10,963,249 fully paid ordinary shares following the exercise and conversion of unlisted performance rights under its Employee Incentive Plan. The shares have been applied for quotation on the ASX, signalling a...
New Murchison Gold Seeks ASX Quotation for Over 10 Million New Shares
Aug 14, 2026
New Murchison Gold Limited has applied for the quotation of 10,253,407 ordinary fully paid shares on the ASX, with the securities issued on October 7, 2025. The application under Appendix 2A reflects the company’s ongoing use of capital mark...
New Murchison Gold Seeks ASX Quotation for Additional Shares
Aug 14, 2026
New Murchison Gold Limited has applied for quotation of 709,842 ordinary fully paid shares on the Australian Securities Exchange, formalising the issue of new equity under its NMG ticker. The shares, issued on January 16, 2026, reflect the convers...
New Murchison Gold Corrects ASX Filing on Unquoted Securities
Aug 14, 2026
New Murchison Gold Limited has clarified that a previously lodged corporate filing regarding unquoted securities was submitted on the wrong ASX form. The company operates in the gold exploration and mining industry, with its securities traded unde...
New Murchison Gold Performance Rights Lapse After Conditions Not Met
Aug 14, 2026
New Murchison Gold Limited, an Australian gold exploration and mining company listed on the ASX under ticker NMG, structures its capital with ordinary shares and performance-based securities tied to operational or strategic milestones. The use of ...
New Murchison Gold Expands Equity Base Through Conversion of Unquoted Securities
Aug 14, 2026
New Murchison Gold Limited has reported the issue and conversion of unquoted securities into 709,842 fully paid ordinary shares, dated January 16, 2026. The move modestly expands the company’s equity base, potentially affecting existing shar...
New Murchison Gold Converts Unquoted Securities Into 10.3m New Shares
Aug 14, 2026
New Murchison Gold Limited has notified the market of the issue of 10,253,407 ordinary fully paid shares following the conversion or exercise of previously unquoted options or other unquoted convertible securities. The new shares, dated 7 October ...
New Murchison Gold Clears 255,370 Lapsed Performance Rights From Its Capital Structure
Aug 11, 2026
New Murchison Gold Limited has notified the market of the cessation of 255,370 performance rights, which lapsed after the underlying conditions were not met or became incapable of being satisfied. The move slightly streamlines the company’s ...
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.