Alpha HPA Limited (AU:A4N)
ASX:A4N
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Alpha HPA Limited
(Sydney:A4N)
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Rating:42Neutral
Price Target:
AU$0.65
▼(-2.54% Downside)
Action:ReiteratedDate:03/26/26
The score is driven primarily by weak financial quality—large losses, negative margins, and negative operating cash flow—despite rapid revenue growth and low leverage. Technicals further weigh on the rating with a clear downtrend and negative MACD, while valuation provides little support because the negative P/E reflects ongoing losses and no dividend yield is available.
Positive Factors
Revenue Growth
Sustained, large revenue gains demonstrate product demand traction and early market adoption for HPA offerings. Durable top-line expansion can enable scale economies, support negotiating leverage with customers and suppliers, and provide a foundation for future margin recovery if costs are controlled.
Negative Factors
Negative Profitability
Deep and persistent negative margins show the company is not yet profitable at scale and absorbs significant losses as it grows. This structural profitability gap limits internal funding, raises the bar for achieving sustainable unit economics, and threatens long-term viability absent material margin improvement.
Read all positive and negative factors
Positive Factors
Negative Factors
Revenue Growth
Sustained, large revenue gains demonstrate product demand traction and early market adoption for HPA offerings. Durable top-line expansion can enable scale economies, support negotiating leverage with customers and suppliers, and provide a foundation for future margin recovery if costs are controlled.
Read all positive factors
Alpha HPA Limited (A4N) vs. iShares MSCI Australia ETF (EWA)
Market Cap
AU$987.29M
Dividend YieldN/A
Average Volume (3M)960.39K
Price to Earnings (P/E)―
Beta (1Y)1.77
Revenue Growth467.60%
EPS Growth-21.48%
CountryAU
Employees65
SectorBasic Materials
Sector Strength58
IndustryIndustrial Materials
Share Statistics
EPS (TTM)-0.03
Shares Outstanding1,451,896,400
10 Day Avg. Volume943,881
30 Day Avg. Volume960,392
Financial Highlights & Ratios
PEG Ratio-5.05
Price to Book (P/B)4.44
Price to Sales (P/S)3058.02
P/FCF Ratio-9.12
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price Target
AU$1.15Price Target Upside71.64% Upside
Rating ConsensusModerate Buy
Number of Analyst Covering2
EPS Forecast (FY)-0.03
Revenue Forecast (FY)AU$1.53M
Alpha HPA Limited Business Overview & Revenue Model
Company Description
Alpha HPA Limited engages in the evaluation, exploration, and development of mineral properties. It primarily explores for high purity alumina (HPA) deposits. The company holds interest in the HPA First project located in Gladstone, Queensland. It...
How the Company Makes Money
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Alpha HPA Limited Financial Statement Overview
Summary
Income Statement
25
Negative
Balance Sheet
40
Negative
Cash Flow
30
Negative
| Breakdown | TTM | Jun 2025 | Jun 2024 | Jun 2023 | Jun 2022 | Jun 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 510.07K | 317.52K | 44.05K | 16.15K | 38.74K | 0.00 |
| Gross Profit | -15.98M | -3.01M | -8.98M | -983.56K | -141.27K | -47.19K |
| EBITDA | -40.19M | -28.91M | -22.80M | -16.26M | -14.23M | -17.12M |
| Net Income | -39.25M | -32.56M | -24.98M | -15.68M | -7.36M | -16.27M |
Balance Sheet | ||||||
| Total Assets | 305.35M | 283.37M | 267.30M | 67.11M | 54.56M | 51.97M |
| Cash, Cash Equivalents and Short-Term Investments | 45.94M | 102.04M | 189.62M | 20.59M | 16.83M | 50.34M |
| Total Debt | 33.79M | 4.42M | 3.69M | 338.81K | 537.59K | 56.61K |
| Total Liabilities | 99.54M | 64.50M | 20.12M | 11.10M | 7.69M | 1.69M |
| Stockholders Equity | 205.81M | 218.88M | 247.17M | 56.02M | 46.87M | 50.28M |
Cash Flow | ||||||
| Free Cash Flow | -140.46M | -106.48M | -47.75M | -35.50M | -34.95M | -8.36M |
| Operating Cash Flow | -12.69M | -18.24M | -22.42M | -11.29M | -3.76M | -1.63M |
| Investing Cash Flow | -67.06M | -69.39M | -25.13M | -8.00M | -31.14M | -6.71M |
| Financing Cash Flow | 26.38M | -367.52K | 216.58M | 23.07M | 1.39M | 50.80M |
Alpha HPA Limited Technical Analysis
Neutral
0.67
Price Trends
0.60
Positive
0.69
Negative
0.78
Negative
Market Momentum
0.01
Negative
63.82
Neutral
94.26
Negative
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For AU:A4N, the sentiment is Neutral. The current price of 0.67 is above the 20-day moving average (MA) of 0.57, above the 50-day MA of 0.60, and below the 200-day MA of 0.78, indicating a neutral trend. The MACD of 0.01 indicates Negative momentum. The RSI at 63.82 is Neutral, neither overbought nor oversold. The STOCH value of 94.26 is Negative, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Neutral sentiment for AU:A4N.
Alpha HPA Limited Peers Comparison
UnderperformOutperform
Sector (61)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
73 Outperform | AU$390.46M | 0.16 | 81.38% | ― | 23.11% | ― | |
68 Neutral | AU$496.83M | 3.21 | 16.49% | ― | 7.77% | 152.21% | |
61 Neutral | $10.43B | 7.12 | -0.05% | 2.87% | 2.86% | -36.73% | |
47 Neutral | AU$213.11M | -3.97 | -12.76% | ― | ― | 17.61% | |
44 Neutral | AU$1.92B | -8.87 | -35.30% | ― | ― | -50.75% | |
42 Neutral | AU$987.29M | -9.79 | -18.49% | ― | 467.60% | -21.48% | |
41 Neutral | AU$278.39M | -15.09 | -26.32% | ― | ― | -6.36% |
* Basic Materials Sector Average
AU:A4N
Alpha HPA Limited
0.68
-0.31
-31.66%
AU:AIS
Aeris Resources Limited
0.42
0.24
130.56%
AU:MMI
Metro Mining Limited
1.27
0.21
19.81%
AU:IPX
Iperionx Limited
5.65
2.10
59.15%
AU:LOT
Lotus Resources Limited
0.78
-1.35
-63.33%
AU:CAY
Canyon Resources Limited
0.14
-0.10
-41.30%
Alpha HPA Limited Corporate Events
Alpha HPA advances Gladstone expansion as AI-driven semiconductor demand accelerates
Apr 30, 2026
Alpha HPA reported strong progress on Stage 2 of its HPA First project in Gladstone, where civil works, major solvent extraction modules, bulk reagent tanks and pipe racks are advancing toward what is planned to be the world’s largest single...
Alpha HPA Cancels 230,000 Lapsed Performance Rights
Mar 31, 2026
Alpha HPA Limited has notified the market of the cessation of 230,000 performance rights (A4NAD) following the lapse of conditional rights that could not be, or were no longer capable of being, satisfied as of 31 March 2026. The cancellation of th...
Alpha HPA director Robert Williamson lifts stake with on-market share purchase
Mar 29, 2026
Alpha HPA Limited has disclosed a change in director interests following an on-market purchase of company shares by director Robert Williamson. The transaction, undertaken in accordance with ASX listing requirements, modestly increases Williamson&...
Alpha HPA Director Increases Shareholding via On-Market Purchase
Mar 26, 2026
Alpha HPA Limited has reported a change in director Rimas Kairaitis’s interests in the company following an on-market purchase of additional shares. The filing, made under ASX Listing Rule 3.19A, outlines the updated holdings structure and c...
Alpha HPA Seeks ASX Quotation for 160 Million New Shares
Mar 13, 2026
Alpha HPA Limited has applied to the ASX for quotation of 160,000,000 new fully paid ordinary shares under its ticker A4N, with the securities scheduled for issue on March 16, 2026. The new shares, issued as part of previously announced transactio...
Alpha HPA Shareholders Back Capital-Raising Resolutions at Extraordinary Meeting
Mar 11, 2026
Alpha HPA Limited has informed investors that all resolutions presented at its Extraordinary General Meeting on 11 March 2026 were approved by shareholders via a poll, reflecting strong support for the company’s proposed capital initiatives....
Alpha HPA Director Increases Stake Through Share Purchase Plan
Mar 3, 2026
Alpha HPA Limited has disclosed a change in director interests following non-executive director Marghanita Johnson’s participation in the company’s Share Purchase Plan. Johnson acquired 31,250 fully paid ordinary shares for $20,000, in...
Alpha HPA seeks ASX quotation for 10.6 million new shares
Feb 27, 2026
Alpha HPA Limited has applied to the ASX for quotation of 10,613,461 new fully paid ordinary shares under its ticker A4N. The newly issued securities, dated 27 February 2026, arise from previously announced transactions and will expand the company...
Alpha HPA Revenue Jumps but Half-Year Loss Deepens as Growth Investment Continues
Feb 26, 2026
Alpha HPA Limited has released its half-year report for the period ended 31 December 2025, filing an audited Appendix 4D and interim financial statements with the ASX. The company reported a 270.9% increase in revenue from ordinary activities to $...
Alpha HPA Raises $6.8m in Strongly Supported Retail Share Purchase Plan
Feb 23, 2026
Alpha HPA Limited has completed its share purchase plan, following a prior A$225 million institutional placement, as part of its broader funding strategy for the HPA First Project and ongoing growth. The plan closed with strong retail investor par...
Alpha HPA Flags Funding Uncertainty and Risks Around HPA First Project Study
Feb 9, 2026
Alpha HPA has updated investors on its Definitive Feasibility Study for the HPA First project, including a 2026 re-baseline of Stage 2 financials that reassesses the technical and economic viability of its high-purity alumina development. The comp...
Alpha HPA Calls March 2026 EGM to Approve Major Share Placements
Feb 9, 2026
Alpha HPA Limited has called an Extraordinary General Meeting for 11 March 2026 in Sydney to seek shareholder approval on two share placement resolutions that underpin its latest capital-raising efforts. Shareholders will be asked to ratify a prio...
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.