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Harvest Minerals
(LSE:HMI)
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Rating:45Neutral
Price Target:
0.29 p
▲(17.20% Upside)
Action:Reiterated
Date:09/15/26
The score is primarily constrained by weak financial performance—shrinking revenue, negative gross profit, widening losses, sharp equity erosion, and continued cash burn—raising financing and solvency risk. Technicals provide partial offset with price above major moving averages and neutral-to-positive momentum, but valuation remains challenged due to negative earnings and no dividend yield data.
Positive Factors
Improved cash burn
The improvement in operating cash flow from the exceptionally weak 2023 level indicates some progress in cash management, even though cash generation remains negative. If sustained, this could reduce the pace of external funding needs and provide a better base for operational recovery.
Negative Factors
Falling revenue and negative gross profit
The sharp revenue decline and move to negative gross profit point to deteriorating operating economics and weaker scale. This undermines the company’s ability to cover costs internally, makes recovery more dependent on improved sales or margins, and threatens earnings durability over coming quarters.
Read all positive and negative factors
Positive Factors
Negative Factors
Improved cash burn
The improvement in operating cash flow from the exceptionally weak 2023 level indicates some progress in cash management, even though cash generation remains negative. If sustained, this could reduce the pace of external funding needs and provide a better base for operational recovery.
Read all positive factors
Harvest Minerals (HMI) vs. iShares MSCI United Kingdom ETF (EWC)
Market Cap
£1.49M
Dividend YieldN/A
Average Volume (3M)1.26M
Price to Earnings (P/E)―
Beta (1Y)-1.31
Revenue Growth-37.32%
EPS Growth14.63%
CountryUK
EmployeesN/A
SectorBasic Materials
Sector Strength58
IndustryAgricultural Inputs
Share Statistics
EPS (TTM)-0.01
Shares Outstanding543,169,200
10 Day Avg. Volume2,019,303
30 Day Avg. Volume1,260,084
Financial Highlights & Ratios
PEG Ratio0.05
Price to Book (P/B)6.86
Price to Sales (P/S)1.05
P/FCF Ratio-2.94
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
Harvest Minerals Business Overview & Revenue Model
Company Description
Harvest Minerals Limited (HMI.L), an Australian-based company founded in 2010 and headquartered in Perth, specializes in mineral exploration and the production of organic natural fertilizers, with all its operations situated in Brazil. The company...
Harvest Minerals Financial Statement Overview
Summary
Income Statement
18
Very Negative
Balance Sheet
32
Negative
Cash Flow
22
Negative
| Breakdown | Dec 2025 | Dec 2024 | Dec 2023 | Jun 2023 | Jun 2022 |
|---|---|---|---|---|---|
Income Statement | |||||
| Total Revenue | 1.73M | 2.65M | 3.13M | 8.63M | 4.86M |
| Gross Profit | -108.69K | 90.54K | 1.48M | 5.76M | 3.59M |
| EBITDA | -1.67M | -3.00M | -2.69M | 755.95K | -4.13M |
| Net Income | -5.72M | -3.67M | -3.18M | 197.80K | -4.17M |
Balance Sheet | |||||
| Total Assets | 5.15M | 9.07M | 11.61M | 10.75M | 9.22M |
| Cash, Cash Equivalents and Short-Term Investments | 1.15M | 1.01M | 795.55K | 2.72M | 1.71M |
| Total Debt | 3.40M | 3.17M | 2.79M | 245.68K | 253.53K |
| Total Liabilities | 4.89M | 4.56M | 4.28M | 1.04M | 607.21K |
| Stockholders Equity | 264.00K | 4.51M | 7.33M | 9.71M | 8.61M |
Cash Flow | |||||
| Free Cash Flow | -616.69K | -405.24K | -1.02M | 406.01K | -1.34M |
| Operating Cash Flow | -519.50K | -393.53K | -3.05M | 2.48M | -820.19K |
| Investing Cash Flow | -70.64K | -11.71K | -1.27M | -2.07M | -695.79K |
| Financing Cash Flow | 701.34K | 859.60K | 2.35M | -74.58K | 253.53K |
Harvest Minerals Technical Analysis
Positive
0.25
Price Trends
0.24
Positive
0.27
Positive
0.29
Negative
Market Momentum
0.01
Negative
57.96
Neutral
61.54
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For GB:HMI, the sentiment is Positive. The current price of 0.25 is below the 20-day moving average (MA) of 0.26, above the 50-day MA of 0.24, and below the 200-day MA of 0.29, indicating a neutral trend. The MACD of 0.01 indicates Negative momentum. The RSI at 57.96 is Neutral, neither overbought nor oversold. The STOCH value of 61.54 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for GB:HMI.
Harvest Minerals Peers Comparison
UnderperformOutperform
Sector (61)
GB:HMI
Harvest Minerals
0.28
>-0.01
-3.51%
GB:KP2
Kore Potash PLC
3.70
-0.20
-5.13%
GB:KRPZ
Kropz Plc
0.55
0.04
7.84%
Harvest Minerals Corporate Events
Business Operations and Strategy
Harvest Minerals seals Brazilian Geological Survey partnership on rare earth projects
Positive
Sep 14, 2026
Harvest Minerals has signed a 24‑month technical‑scientific cooperation agreement with the Brazilian Geological Survey to study the rare earth potential of its Capão Bonito, Carambeí, Cerro Azul and Sguário Granite proje...
Business Operations and StrategyShareholder Meetings
Harvest Minerals Secures Shareholder Backing at AGM
Positive
Sep 14, 2026
Harvest Minerals Limited has confirmed that all resolutions at its Annual General Meeting held on 14 September 2026 were duly passed. The formal approval by shareholders signals continued support for the current board and corporate strategy, provi...
Business Operations and StrategyM&A Transactions
Harvest Minerals closes Scanty deal to build Brazilian rare earths portfolio
Positive
Sep 1, 2026
Harvest Minerals has completed the acquisition of Scanty Mineração, adding eight ionic adsorption clay rare earth projects across four Brazilian states to complement its Arapua rare earth project and fertilizer business. The portfolio in...
Regulatory Filings and ComplianceShareholder Meetings
Harvest Minerals Sets Date and Details for 2026 Annual General Meeting
Neutral
Aug 14, 2026
Harvest Minerals Limited has scheduled its Annual General Meeting for 4.00pm AWST on 14 September 2026 at 22 Lindsay Street in Perth, Western Australia. The company has distributed the AGM notice and proxy form to shareholders and has also made th...
Business Operations and StrategyM&A Transactions
Harvest Minerals Buys Brazilian Rare Earth Portfolio in Strategic Expansion
Positive
Jul 21, 2026
Harvest Minerals has agreed to acquire Scanty Mineração Ltda from Union Star Metals, adding eight ionic clay and hard rock rare earth projects across 27 Brazilian exploration tenements. The portfolio includes advanced Capão Bonito a...
Business Operations and StrategyFinancial DisclosuresLegal ProceedingsPrivate Placements and Financing
Harvest Minerals posts deeper 2025 loss as Arapua impairment and Brazilian debt talks weigh
Negative
Jun 30, 2026
Harvest Minerals reported a difficult 2025, with fertiliser sales falling to 25,983 tonnes and revenue dropping to $1.75 million, resulting in a net loss of $5.8 million and a sharp reduction in net assets to $0.26 million, driven by an impairment...
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.