Want to see TBN full AI Analyst Report?
Top Page
Tamboran Resources Corporation
(NYSE:TBN)
Select Model
Select Model
Rating:47Neutral
Price Target:
$30.00
▼(-18.83% Downside)
Action:Reiterated
Date:10/24/26
The score is held down primarily by weak financial performance (minimal revenue, persistent losses, and ongoing cash burn) and bearish technicals (trading below key moving averages with negative momentum). Offsetting these are a stronger low-leverage balance sheet and a constructive earnings-call outlook driven by first gas sales and operational execution, but key commercialization, commissioning, and scaling uncertainties remain.
Positive Factors
Initial Commercialization
First gas sales demonstrate that Tamboran has moved beyond exploration toward commercial operations. Establishing production and market delivery creates a foundation for future revenue, validates the basin’s strategic importance, and supports potential expansion as commissioning and demand constraints ease.
Negative Factors
Persistent Losses and Cash Burn
Tamboran remains dependent on external funding because its operating base does not yet generate cash and development spending produces volatile negative free cash flow. Continued losses and cash burn could constrain the pace of appraisal, infrastructure investment, and eventual shareholder returns.
Read all positive and negative factors
Positive Factors
Negative Factors
Initial Commercialization
First gas sales demonstrate that Tamboran has moved beyond exploration toward commercial operations. Establishing production and market delivery creates a foundation for future revenue, validates the basin’s strategic importance, and supports potential expansion as commissioning and demand constraints ease.
Read all positive factors
Tamboran Resources Corporation (TBN) vs. SPDR S&P 500 ETF (SPY)
Market Cap
$1.07B
Dividend YieldN/A
Average Volume (3M)174.23K
Price to Earnings (P/E)―
Beta (1Y)-0.24
Revenue GrowthN/A
EPS Growth49.49%
CountryUS
Employees47
SectorEnergy
Sector Strength52
IndustryOil & Gas Exploration & Production
Share Statistics
EPS (TTM)-1.27
Shares Outstanding34,960,007
10 Day Avg. Volume259,649
30 Day Avg. Volume174,230
Financial Highlights & Ratios
PEG Ratio0.52
Price to Book (P/B)0.92
Price to Sales (P/S)0.00
P/FCF Ratio-9.05
Enterprise Value/Market Cap1.09
Enterprise Value/RevenueN/A
Enterprise Value/Gross Profit-1.73K
Enterprise Value/Ebitda-35.62
Forecast
1Y Price Target
$58.00Price Target Upside56.93% Upside
Rating ConsensusStrong Buy
Number of Analyst Covering5
EPS Forecast (FY)-15.86
Revenue Forecast (FY)$52.05M
Tamboran Resources Corporation Business Overview & Revenue Model
Company Description
Tamboran Resources Corporation is an energy firm focused on natural gas, with a core mission to unlock unconventional gas reserves situated in Australia's Northern Territory. The company's asset portfolio encompasses a 25% non-operated stake in EP...
Tamboran Resources Corporation Earnings Call Summary
Earnings Call Date:Sep 25, 2026
(Q4-2026)
| % Change Since: |
Next Earnings Date:Nov 13, 2026
Earnings Call Sentiment Positive
The call was predominantly positive, centered on delivery of First Gas Sales, on-time and under-budget completion of the compression facility, improved drilling and stimulation performance, potential local-sand savings, expanded appraisal activity, and a strengthened balance sheet. The main challenges were current demand-related volume limits, ongoing commissioning, limited long-term well data, uncertainty over strategic partner timing and capital planning, and infrastructure requirements for future expansion. Highlights significantly outweighed the stated lowlights.Positive Updates
First Gas Sales Delivered from the Beetaloo Basin
Tamboran delivered First Gas Sales from the Beetaloo Basin to the Northern Territory gas market, with homes and businesses in Darwin now being powered by a local onshore resource. The sales also generate royalties for the Northern Territory Government and native title holders and support job opportunities for Territorians.
Negative Updates
Pipeline Expansion Depends on Infrastructure Certainty
A key uncertainty for expanding the Sturt Plateau compression facility is whether the surrounding infrastructure network will allow incremental volumes to reach incremental markets. Tamboran does not own the surrounding pipelines and said it needs greater certainty about gas flows and future pipeline upgrades or modifications before making the investment decision.
Read all updates
Q4-2026 Updates
Positive
Negative
First Gas Sales Delivered from the Beetaloo Basin
Tamboran delivered First Gas Sales from the Beetaloo Basin to the Northern Territory gas market, with homes and businesses in Darwin now being powered by a local onshore resource. The sales also generate royalties for the Northern Territory Government and native title holders and support job opportunities for Territorians.
Read all positive updates
Company Guidance
Tamboran expects demand and nominations to keep growing through the Northern Territory's peak demand period, with the Northern Territory Government currently nominating 25 terajoule per day and the Gas Sales Agreement moving to supply period on the 40-terajoule per day contract quantity; it will prioritize 2 wells for long-term production and well performance data. Commissioning is expected to continue, with the company receiving 75% of the gas price during the commissioning period, and first quarterly gas sales and revenue are expected in 1Q fiscal '27 earnings in November. The '27 and '28 campaigns will focus on drilling and stimulating at least 6 step-out wells over the next 18 months, including 3 of 4 wells in the Pilot Area this year, 1 next year, 2 Santos wells this year and stimulating next year, and 4 wells in the BCDA. Tamboran expects Betaloo Red Sand could save USD 4 million per well with a 10,000-foot horizontal section, is targeting 25 days or less for drilling, and expects lower emissions pumping equipment to begin phasing into the Betaloo fleet from 2027.Tamboran Resources Corporation Financial Statement Overview
Summary
Income Statement
14
Very Negative
Balance Sheet
62
Positive
Cash Flow
21
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 | -1.25M | -85.95K | -120.44K | -719.29K | -407.63K |
| EBITDA | -31.42M | -32.90M | -20.37M | -31.48M | ― |
| Net Income | -26.07M | -36.90M | -21.92M | -32.03M | -7.83M |
Balance Sheet | |||||
| Total Assets | 1.15B | 446.46M | 358.64M | 182.85M | 134.07M |
| Cash, Cash Equivalents and Short-Term Investments | 219.13M | 39.44M | 74.75M | 7.06M | 26.81M |
| Total Debt | 84.78M | 26.40M | 27.89M | 479.70K | 1.11M |
| Total Liabilities | 184.42M | 57.01M | 50.96M | 22.27M | 5.46M |
| Stockholders Equity | 796.22M | 287.72M | 262.72M | 139.53M | 128.61M |
Cash Flow | |||||
| Free Cash Flow | -80.67M | -139.77M | -75.10M | -21.40M | -65.95M |
| Operating Cash Flow | -42.96M | -29.64M | -11.40M | -12.80M | -11.06M |
| Investing Cash Flow | -187.56M | -98.77M | -66.11M | -86.53M | -56.12M |
| Financing Cash Flow | 412.27M | 101.06M | 146.39M | 85.24M | 31.11M |
Tamboran Resources Corporation Technical Analysis
Negative
36.96
Price Trends
35.70
Negative
34.63
Negative
33.83
Negative
Market Momentum
-1.69
Positive
40.13
Neutral
24.17
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For TBN, the sentiment is Negative. The current price of 36.96 is above the 20-day moving average (MA) of 32.57, above the 50-day MA of 35.70, and above the 200-day MA of 33.83, indicating a bearish trend. The MACD of -1.69 indicates Positive momentum. The RSI at 40.13 is Neutral, neither overbought nor oversold. The STOCH value of 24.17 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for TBN.
Tamboran Resources Corporation Peers Comparison
UnderperformOutperform
Sector (65)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
80 Outperform | $345.28M | 14.34 | 11.47% | ― | -19.15% | -28.59% | |
65 Neutral | $15.17B | 7.61 | 4.09% | 5.20% | 3.87% | -62.32% | |
57 Neutral | $369.97M | -1.29 | -28.80% | ― | -3.15% | -416.57% | |
52 Neutral | $184.48M | 8.90 | 5.13% | 59.31% | -23.70% | 30.67% | |
52 Neutral | $640.00M | -5.81 | 54.96% | 0.94% | 13.75% | 3.54% | |
47 Neutral | $1.07B | -92.13 | -1.57% | ― | ― | 49.49% |
* Energy Sector Average
TBN
Tamboran Resources Corporation
30.58
4.24
16.10%
AMPY
Amplify Energy
4.45
-0.09
-1.98%
PNRG
Primeenergy
218.17
66.78
44.11%
WTI
W&T Offshore
4.24
2.09
97.12%
REI
Ring Energy
1.42
0.42
42.00%
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.