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Southern Palladium Ltd.
(Sydney:SPD)
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Rating:51Neutral
Price Target:
AU$2.00
▲(6.38% Upside)
Action:Reiterated
Date:09/29/26
The score is primarily constrained by weak financial performance: the company is pre-revenue with widening losses and deteriorating operating/free cash flow. Technicals are mixed but slightly supportive over longer horizons (price above 50/100/200-day averages and modestly positive MACD), while valuation is pressured by a negative P/E and no stated dividend yield.
Positive Factors
Debt-free balance sheet
A zero-debt balance sheet reduces refinancing pressure and avoids mandatory interest commitments while the project remains pre-revenue. This provides greater financial flexibility to fund exploration and development activities, although it does not eliminate the need for future capital.
Negative Factors
No operating revenue
The absence of operating revenue means the company has not yet demonstrated commercial production or recurring sales. Until a project reaches development and generates income, corporate funding must support activities without an established operating cash engine to absorb ongoing costs.
Read all positive and negative factors
Positive Factors
Negative Factors
Debt-free balance sheet
A zero-debt balance sheet reduces refinancing pressure and avoids mandatory interest commitments while the project remains pre-revenue. This provides greater financial flexibility to fund exploration and development activities, although it does not eliminate the need for future capital.
Read all positive factors
Southern Palladium Ltd. (SPD) vs. iShares MSCI Australia ETF (EWA)
Market Cap
AU$257.38M
Dividend YieldN/A
Average Volume (3M)160.70K
Price to Earnings (P/E)―
Beta (1Y)1.42
Revenue GrowthN/A
EPS Growth-67.62%
CountryAU
Employees5
SectorBasic Materials
Sector Strength58
IndustryOther Precious Metals
Share Statistics
EPS (TTM)-0.09
Shares Outstanding132,328,920
10 Day Avg. Volume321,866
30 Day Avg. Volume160,703
Financial Highlights & Ratios
PEG Ratio-0.18
Price to Book (P/B)2.91
Price to Sales (P/S)0.00
P/FCF Ratio-64.04
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
Southern Palladium Ltd. Business Overview & Revenue Model
Company Description
Focusing on the discovery and advancement of platinum group metals, Southern Palladium Limited's main holding is the Bengwenyama Palladium/rhodium project. This venture, entirely owned by the company, is situated on the Eastern Limb of the Bushvel...
How the Company Makes Money
Southern Palladium Ltd. does not have publicly available information indicating material operating revenue from producing mines or sale of products; therefore, a detailed breakdown of recurring revenue streams (e.g., sales of palladium/platinum or...
Southern Palladium Ltd. Financial Statement Overview
Summary
Income Statement
12
Very Negative
Balance Sheet
64
Positive
Cash Flow
28
Negative
| Breakdown | Jun 2026 | Jun 2025 | Jun 2024 | Jun 2023 | Jun 2022 |
|---|---|---|---|---|---|
Income Statement | |||||
| Total Revenue | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Gross Profit | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| EBITDA | -11.73M | -4.05M | 0.00 | -6.45M | 0.00 |
| Net Income | -10.47M | -4.78M | -6.73M | -7.18M | -2.50M |
Balance Sheet | |||||
| Total Assets | 43.91M | 29.73M | 25.11M | 31.29M | 40.69M |
| Cash, Cash Equivalents and Short-Term Investments | 23.88M | 9.92M | 5.43M | 11.55M | 17.87M |
| Total Debt | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Total Liabilities | 241.32K | 698.75K | 137.81K | 99.29K | 410.33K |
| Stockholders Equity | 43.67M | 29.04M | 24.97M | 31.19M | 40.28M |
Cash Flow | |||||
| Free Cash Flow | -1.99M | -1.16M | -894.00 | -1.06K | -1.36K |
| Operating Cash Flow | -1.99M | -1.16M | -894.00 | -1.06K | -1.36K |
| Investing Cash Flow | -13.47M | -2.35M | -5.22M | -5.26M | -889.00 |
| Financing Cash Flow | 24.42M | 8.00M | 0.00 | 0.00 | 17.86M |
Southern Palladium Ltd. Technical Analysis
Positive
1.88
Price Trends
1.85
Positive
1.57
Positive
1.74
Positive
Market Momentum
0.03
Positive
52.33
Neutral
36.35
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For AU:SPD, the sentiment is Positive. The current price of 1.88 is below the 20-day moving average (MA) of 1.93, above the 50-day MA of 1.85, and above the 200-day MA of 1.74, indicating a bullish trend. The MACD of 0.03 indicates Positive momentum. The RSI at 52.33 is Neutral, neither overbought nor oversold. The STOCH value of 36.35 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for AU:SPD.
Southern Palladium Ltd. Peers Comparison
UnderperformOutperform
Sector (61)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
74 Outperform | AU$1.61B | 3.86 | 13.60% | 11.63% | 49.50% | 542.61% | |
66 Neutral | AU$723.53M | 16.63 | 12.48% | 235.60% | 29.37% | 102.31% | |
61 Neutral | $10.43B | 7.12 | -0.05% | 2.87% | 2.86% | -36.73% | |
53 Neutral | AU$473.41M | -21.61 | -21.51% | ― | ― | -62.33% | |
51 Neutral | AU$257.38M | -22.50 | -24.03% | ― | ― | -67.62% | |
47 Neutral | AU$364.63M | -59.24 | -4.32% | ― | ― | 5.15% |
* Basic Materials Sector Average
AU:SPD
Southern Palladium Ltd.
1.95
0.94
93.07%
AU:BOC
Bougainville Copper
0.16
-0.73
-82.02%
AU:A1M
AIC Mines Limited
0.89
0.51
131.17%
AU:ZIM
Zimplats Holdings Limited
14.31
-4.57
-24.21%
AU:AZY
Antipa Minerals Limited
0.55
-0.11
-16.67%
AU:MM8
Medallion Metals Ltd
0.52
-0.02
-2.83%
Southern Palladium Ltd. Corporate Events
Southern Palladium posts wider loss as Bengwenyama PGM project advances to definitive study
Sep 28, 2026
Southern Palladium has released its financial results for the year to 30 June 2026, reporting an operating loss of A$10.47 million, more than double the prior year’s A$4.78 million loss, with basic and headline loss per share rising 67.92% t...
Southern Palladium Sets Date and Nomination Deadline for 2026 AGM
Sep 21, 2026
Southern Palladium Limited has scheduled its 2026 Annual General Meeting for 30 November 2026 at 4:00pm Sydney time, signalling the next key governance event for shareholders across its dual ASX and JSE listings. The company has set 30 September 2...
Southern Palladium Reports Minor Share Disposal by Director Rob Thomson
Aug 14, 2026
Southern Palladium Limited has lodged an Appendix 3Y Change of Director’s Interest Notice regarding director Rob Thomson. The filing, made under ASX listing rule 3.19A.2, discloses a disposal of 6,840 fully paid ordinary shares from Thomson&...
Southern Palladium seeks trading halt ahead of Bengwenyama mining right decision
Aug 6, 2026
Southern Palladium has requested an immediate trading halt on the ASX and will seek a corresponding halt on the Johannesburg Stock Exchange as it prepares to announce the granting of a Mining Right for its Bengwenyama PGM Project in South Africa. ...
Southern Palladium Addresses Director Trade Breach During Closed Period
Aug 3, 2026
Southern Palladium has disclosed a change in director Daan van Heerden’s interests following an off-market purchase of company shares from a family member during a closed trading period. The company said the transaction occurred without prop...
Southern Palladium boosts recoveries, elevates Bengwenyama to diversified PGM-chrome play
Jul 30, 2026
Southern Palladium reported that definitive feasibility study metallurgical test work at its Bengwenyama project has significantly improved recoveries and project economics. Chrome recovery rose from 30% assumed in the prefeasibility study to 85.6...
Southern Palladium Repositions Bengwenyama as PGM-Chrome Co-Product
Jul 23, 2026
Southern Palladium has announced that Executive Chairman Roger Baxter will present at the Noosa Mining Investor Conference on 24 July 2026. The presentation will highlight the strategic repositioning of the Bengwenyama Project as a PGM-chrome co-p...
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.