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Pantoro Gold Limited
(Sydney:PNR)
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Rating:74Outperform
Price Target:
AU$3.00
â–˛(10.29% Upside)
Action:Upgraded
Date:09/30/26
The score is driven primarily by improved financial performance (sharp profitability and cash flow recovery alongside low leverage), partially offset by historical volatility typical of gold miners. Technicals are moderately positive but not fully long-term bullish given the price remains below the 200-day moving average. Valuation is supportive with a moderate P/E, though no dividend yield data is available.
Positive Factors
Profitability turnaround
The move from losses to strong profitability, alongside accelerating revenue and wider margins, indicates a meaningful operating recovery. If sustained, improved earnings power can support reinvestment, strengthen resilience, and provide a better foundation for future mine development.
Negative Factors
Historical earnings volatility
The sharp historical swing in results demonstrates that Pantoro’s earnings are not consistently stable across cycles. Such volatility can complicate mine planning, capital allocation, and forecasting, particularly when operating conditions or gold prices become less supportive.
Read all positive and negative factors
Positive Factors
Negative Factors
Profitability turnaround
The move from losses to strong profitability, alongside accelerating revenue and wider margins, indicates a meaningful operating recovery. If sustained, improved earnings power can support reinvestment, strengthen resilience, and provide a better foundation for future mine development.
Read all positive factors
Pantoro Gold Limited (PNR) vs. iShares MSCI Australia ETF (EWA)
Market Cap
AU$1.11B
Dividend YieldN/A
Average Volume (3M)3.19M
Price to Earnings (P/E)10.2
Beta (1Y)2.62
Revenue Growth34.55%
EPS Growth98.48%
CountryAU
Employees2
SectorBasic Materials
Sector Strength58
IndustryGold
Share Statistics
EPS (TTM)0.28
Shares Outstanding389,727,050
10 Day Avg. Volume2,614,489
30 Day Avg. Volume3,186,446
Financial Highlights & Ratios
PEG Ratio0.09
Price to Book (P/B)1.49
Price to Sales (P/S)1.89
P/FCF Ratio5.80
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price Target
AU$4.12Price Target Upside51.47% Upside
Rating ConsensusStrong Buy
Number of Analyst Covering5
EPS Forecast (FY)0.35
Revenue Forecast (FY)AU$604.71M
Pantoro Gold Limited Business Overview & Revenue Model
Company Description
Operating primarily in Western Australia, Pantoro Limited and its subsidiaries are actively engaged in the exploration, mining, and processing of gold. The company's prospecting efforts extend to both gold and silver deposits. Its flagship asset i...
How the Company Makes Money
Pantoro Gold Limited primarily makes money by producing and selling gold. Its main revenue stream is the sale of gold (typically in the form of doré) generated from mining ore and processing it through its plant to recover gold. Revenue is general...
Pantoro Gold Limited Financial Statement Overview
Summary
Income Statement
78
Positive
Balance Sheet
84
Very Positive
Cash Flow
74
Positive
| Breakdown | Jun 2026 | Jun 2025 | Jun 2024 | Jun 2023 | Jun 2022 |
|---|---|---|---|---|---|
Income Statement | |||||
| Total Revenue | 480.74M | 357.30M | 229.43M | 98.54M | 73.52M |
| Gross Profit | 166.23M | 96.40M | 31.46M | -55.02M | -1.84M |
| EBITDA | 266.92M | 183.89M | 51.22M | -55.48M | 20.74M |
| Net Income | 113.18M | 56.66M | -49.31M | -74.64M | -10.74M |
Balance Sheet | |||||
| Total Assets | 846.34M | 692.79M | 560.88M | 514.91M | 294.63M |
| Cash, Cash Equivalents and Short-Term Investments | 202.88M | 151.65M | 98.12M | 42.61M | 52.04M |
| Total Debt | 70.13M | 78.35M | 56.12M | 79.57M | 56.50M |
| Total Liabilities | 235.18M | 183.49M | 147.58M | 176.69M | 101.74M |
| Stockholders Equity | 611.17M | 509.30M | 413.30M | 338.22M | 192.90M |
Cash Flow | |||||
| Free Cash Flow | 156.61M | 75.26M | -41.29M | -81.08M | -49.21M |
| Operating Cash Flow | 276.25M | 182.00M | -563.17K | -17.13M | 19.74M |
| Investing Cash Flow | -185.02M | -104.17M | -11.33M | -68.28M | -73.63M |
| Financing Cash Flow | -39.99M | -24.31M | 67.40M | 75.98M | 58.55M |
Pantoro Gold Limited Technical Analysis
Positive
2.72
Price Trends
2.81
Positive
2.57
Positive
3.29
Negative
Market Momentum
0.01
Positive
57.60
Neutral
83.05
Negative
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For AU:PNR, the sentiment is Positive. The current price of 2.72 is below the 20-day moving average (MA) of 2.88, below the 50-day MA of 2.81, and below the 200-day MA of 3.29, indicating a neutral trend. The MACD of 0.01 indicates Positive momentum. The RSI at 57.60 is Neutral, neither overbought nor oversold. The STOCH value of 83.05 is Negative, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for AU:PNR.
Pantoro Gold Limited Peers Comparison
UnderperformOutperform
Sector (61)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
78 Outperform | AU$521.54M | 1.52 | 33.30% | 4.40% | 216.46% | 225.85% | |
76 Outperform | AU$1.03B | 3.63 | 56.44% | 5.32% | 77.12% | 829.48% | |
74 Outperform | AU$1.11B | 10.21 | 19.17% | ― | 34.55% | 98.48% | |
69 Neutral | AU$2.42B | 11.13 | 46.66% | ― | 100.85% | 13.66% | |
68 Neutral | AU$419.16M | 4.82 | 25.37% | ― | 909.33% | ― | |
61 Neutral | $10.43B | 7.12 | -0.05% | 2.87% | 2.86% | -36.73% | |
53 Neutral | AU$1.01B | -19.74 | -6.68% | 6.06% | 17.55% | 40.51% |
* Basic Materials Sector Average
AU:PNR
Pantoro Gold Limited
2.86
-2.26
-44.14%
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1.82
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-27.05%
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3.85
0.08
2.07%
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70.10%
AU:BC8
Black Cat Syndicate Ltd.
0.58
-0.45
-43.63%
Pantoro Gold Limited Corporate Events
Pantoro Gold sets November AGM and moves to digital notices
Oct 22, 2026
Pantoro Gold Limited has called its Annual General Meeting of shareholders for 10:00 a.m. AWST on 24 November 2026 at the Country Women’s Association premises in West Perth, Western Australia. The company is shifting to electronic disseminat...
Pantoro Gold Quarterly Update Emphasises Disclaimers and Risk
Oct 21, 2026
Pantoro Gold Limited has released a quarterly results presentation intended as a general information update for investors and stakeholders rather than as an offer or solicitation to buy or sell its securities. The document stresses that the materi...
Pantoro Gold to Brief Investors on Norseman Operations in Quarterly Webinar
Oct 19, 2026
Pantoro Gold Limited will host a quarterly investor webinar on 22 October 2026 to provide an update on operations at its flagship Norseman Gold Project following the release of its September 2026 Quarterly Activities Report. The session, led by Ma...
Pantoro Gold Continues On-Market Share Buy-Back Program
Oct 12, 2026
Pantoro Gold Limited has provided an update on its ongoing on-market share buy-back program for its ordinary fully paid shares. The company reported that it had repurchased a cumulative total of 7,352,729 shares prior to the latest trading day, an...
Pantoro Gold Updates Daily On-Market Share Buy-Back Activity
Oct 9, 2026
Pantoro Gold Limited has provided an update on its on-market share buy-back program for its ordinary fully paid shares listed on the ASX under ticker PNR. The company continues to actively repurchase stock as part of its capital management strateg...
Pantoro Gold Updates Daily On-Market Share Buy-Back Activity
Oct 7, 2026
Pantoro Gold Limited has provided an updated notification to the ASX detailing activity under its on-market share buy-back program for ordinary fully paid shares. The latest daily report shows that the company has repurchased a cumulative total of...
Pantoro Gold Sets AGM Date and Deadline for Board Nominations
Oct 5, 2026
Pantoro Gold Limited has scheduled its Annual General Meeting for 24 November 2026, with the election of directors included as a key item of business. The company has set 9 October 2026 as the deadline for receiving nominations from individuals se...
Pantoro Gold Reaffirms Broad Compliance With ASX Governance Principles
Sep 28, 2026
Pantoro Gold Limited has detailed the state of its corporate governance framework as at 29 September 2026, confirming broad compliance with the ASX Corporate Governance Council’s fourth edition principles for the year to 30 June 2026. The co...
Pantoro Gold Details Governance and Operations in 2026 Annual Report
Sep 28, 2026
Pantoro Gold Limited has released its 2026 annual report, outlining its corporate structure, governance framework, and key operational sites, including underground operations at Scotia in Western Australia. The report underscores the company’...
Pantoro lifts Norseman gold reserves as growth drilling delivers new ounces
Sep 28, 2026
Pantoro Gold has reported modest year-on-year growth in its Norseman Project inventories, with total mineral resources rising about 2% to 43.1 million tonnes at 3.4 grams per tonne gold for 4.7 million ounces, and ore reserves up 9% to 13.0 millio...
Norges Bank Exits Substantial Holding in Pantoro Gold
Sep 27, 2026
Norges Bank has notified Pantoro Gold Ltd that it has ceased to be a substantial shareholder in the company as of 24 September 2026. The change follows the return of collateral shares amounting to 1,682,324 common shares, reducing Norges Bank̵...
Pantoro Gold Lifts Norseman Output as Green Lantern Pit Comes Online
Sep 20, 2026
Pantoro Gold has reported quarter-to-date production of 19,130 ounces at its Norseman project, in line with its annual guidance of 90,000 to 105,000 ounces, as it prepares to brief investors in North America. The company has brought its second ope...
Pantoro extends high-grade Racetrack ore zone to 900 metres at Norseman
Sep 15, 2026
Pantoro Gold has reported significant drilling results at the Racetrack Discovery within the Norseman Mainfield, extending the high-grade mineralised strike length to about 900 metres from near surface to 600 metres depth. The infill and extension...
Pantoro Gold Director Increases Shareholding Through Rights Conversion
Aug 18, 2026
Pantoro Gold Limited has disclosed a change in director Fiona Van Maanen’s interests in company securities, reflecting the conversion of previously held share rights into fully paid ordinary shares. The update forms part of the company’...
Pantoro Gold Seeks ASX Quotation for Additional Ordinary Shares
Aug 18, 2026
Pantoro Gold Limited has lodged an application with the ASX for quotation of 8,409 new ordinary fully paid shares. The securities, to be traded under the existing PNR code, were issued on August 18, 2026, and represent a small incremental increase...
Pantoro Gold Reports Lapse of 3.8 Million Performance Rights
Aug 18, 2026
Pantoro Gold Limited has notified the market of a cessation of securities, specifically the lapse of 3,795,883 performance rights identified under ASX code PNRAU. These rights ceased on 29 May 2026 because the conditions attached to them were not ...
Pantoro Gold Issues New Unquoted Share Rights Under Employee Incentive Plan
Aug 11, 2026
Pantoro Gold Limited has issued 377,800 unquoted share rights under its employee incentive scheme, as notified in an Appendix 3G filing to the ASX. The share rights, recorded under the security code PNRAH, were granted on 11 August 2026 and are no...
Pantoro Gold’s Racetrack Drilling Confirms High-Grade Continuity Near Norseman Mine
Aug 3, 2026
Pantoro Gold has reported second-phase infill drilling results at the Racetrack Discovery within its Norseman project, confirming a continuous high-grade gold zone over more than 350 metres of strike and down to 600 metres depth. The program has d...
Pantoro Gold Issues Cautious June Quarter Investor Presentation
Jul 30, 2026
Pantoro Gold Limited released a June quarter presentation that primarily sets out general information about the company while stressing that the material is summary in nature and not a complete basis for investment decisions. The document clarifie...
Pantoro Gold lifts Norseman output, maps aggressive growth and exploration push
Jul 29, 2026
Pantoro Gold reported quarterly production of 18,028 ounces of gold, selling 16,366 ounces at an average price of A$6,293 per ounce and achieving an all-in sustaining cost of A$4,107 per ounce, which generated EBITDA of A$44.8 million. The company...
Pantoro Gold to Brief Investors on Norseman Operations in Quarterly Webinar
Jul 27, 2026
Pantoro Gold Limited has scheduled an investor webinar for shareholders and other stakeholders on Thursday, 30 July 2026, to provide an update on operations at its flagship Norseman Gold Project. The session, to be led by Managing Director Paul Cm...
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.