Matador Mining Ltd (AU:AAM)
ASX:AAM
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Matador Mining Ltd
(Sydney:AAM)
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Rating:48Neutral
Price Target:
AU$0.04
▼(-2.50% Downside)
Action:ReiteratedDate:04/09/26
The score is primarily constrained by weak financial performance—no revenue, widening losses, sharply worse cash burn, and a major reduction in equity/assets despite low debt. Technical indicators are relatively steady with mild positive momentum, but they do not offset the fundamental funding and profitability risks. Valuation is also penalized because a negative P/E reflects ongoing unprofitability and there is no indicated dividend yield support.
Positive Factors
Focused gold exploration model
A clear, focused business model on gold exploration in Newfoundland supports concentrated technical expertise and repeatable workflows (mapping, geophysics, drilling). That structural focus enables disciplined capital deployment and scalable project advancement if exploration success continues, benefiting long-term project optionality.
Negative Factors
No revenue; widening losses
Absence of operating revenue and materially increasing net losses indicate the company remains pre-revenue and economically dependent on capital raises. Persistent, widening losses erode equity and make long-term viability contingent on either successful resource definition or repeated external funding, increasing structural investor risk.
Read all positive and negative factors
Positive Factors
Negative Factors
Focused gold exploration model
A clear, focused business model on gold exploration in Newfoundland supports concentrated technical expertise and repeatable workflows (mapping, geophysics, drilling). That structural focus enables disciplined capital deployment and scalable project advancement if exploration success continues, benefiting long-term project optionality.
Read all positive factors
Matador Mining Ltd (AAM) vs. iShares MSCI Australia ETF (EWA)
Market Cap
AU$31.97M
Dividend YieldN/A
Average Volume (3M)1.97M
Price to Earnings (P/E)―
Beta (1Y)0.91
Revenue GrowthN/A
EPS GrowthN/A
CountryAU
Employees8
SectorBasic Materials
Sector Strength58
IndustryGold
Share Statistics
EPS (TTM)-0.01
Shares Outstanding887,939,000
10 Day Avg. Volume2,999,169
30 Day Avg. Volume1,974,422
Financial Highlights & Ratios
PEG Ratio-0.03
Price to Book (P/B)12.46
Price to Sales (P/S)0.00
P/FCF Ratio-2.61
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
Matador Mining Ltd Business Overview & Revenue Model
Company Description
AuMEGA Metals Ltd, a junior exploration company, engages in the mining and mineral exploration activities in Canada. The company explores for gold deposits. Its principal assets include the Cape Ray gold project and the Hermitage project located i...
How the Company Makes Money
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Matador Mining Ltd Financial Statement Overview
Summary
Income Statement
12
Very Negative
Balance Sheet
38
Negative
Cash Flow
14
Very Negative
| Breakdown | Dec 2025 | Dec 2024 | Dec 2023 | Jun 2021 | Jun 2020 |
|---|---|---|---|---|---|
Income Statement | |||||
| Total Revenue | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Gross Profit | -113.63K | -148.65K | -155.07K | -104.26K | -43.88K |
| EBITDA | -15.04M | -2.86M | -6.89M | -1.77M | -2.65M |
| Net Income | -11.70M | -4.66M | -7.40M | -5.51M | -4.91M |
Balance Sheet | |||||
| Total Assets | 4.77M | 66.60M | 59.62M | 47.80M | 50.75M |
| Cash, Cash Equivalents and Short-Term Investments | 4.02M | 15.73M | 9.45M | 3.10M | 22.02M |
| Total Debt | 24.30K | 98.71K | 92.86K | 0.00 | 0.00 |
| Total Liabilities | 2.31M | 12.42M | 8.61M | 7.73M | 8.07M |
| Stockholders Equity | 2.47M | 54.17M | 50.05M | 40.07M | 42.68M |
Cash Flow | |||||
| Free Cash Flow | -11.77M | -8.45M | -7.28M | -19.70M | -11.45M |
| Operating Cash Flow | -11.72M | -2.44M | -3.00M | -3.44M | -1.89M |
| Investing Cash Flow | -49.75K | -6.87M | -4.99M | -16.37M | -9.55M |
| Financing Cash Flow | -222.34K | 16.92M | 8.96M | 846.79K | 31.09M |
Matador Mining Ltd Peers Comparison
UnderperformOutperform
Sector (61)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
61 Neutral | $10.43B | 7.12 | -0.05% | 2.87% | 2.86% | -36.73% | |
48 Neutral | AU$31.97M | -2.63 | -26.06% | ― | ― | ― | |
46 Neutral | AU$32.16M | -30.22 | -4.96% | ― | ― | 37.50% | |
45 Neutral | AU$22.76M | -6.13 | -78.42% | ― | ― | ― | |
44 Neutral | AU$26.08M | -1.26 | -18.70% | ― | ― | 9.01% | |
42 Neutral | AU$47.05M | -1.91 | -342.09% | ― | ― | 40.17% |
* Basic Materials Sector Average
AU:AAM
Matador Mining Ltd
0.04
>-0.01
-14.29%
AU:IR1
Iris Metals Limited
0.10
-0.09
-47.37%
AU:HAW
Hawthorn Resources Limited
0.10
0.05
128.57%
AU:WGR
Western Gold Resources Ltd.
0.16
0.11
220.00%
AU:MVL
Marvel Gold Ltd.
0.02
<0.01
45.45%
Matador Mining Ltd Corporate Events
Aumega Metals Launches High-Risk Capital Raising via New Prospectus
Apr 7, 2026
Aumega Metals Limited has released a transaction-specific prospectus outlining several capital-raising offers, including large tranches of CF Units and HD Units, each comprising shares and warrants, as well as a small cleansing offer of ordinary s...
AuMEGA Metals Sharpens Focus on High-Conviction Gold Targets in Newfoundland
Mar 31, 2026
AuMEGA Metals’ latest management discussion outlines its focus on high-potential gold and base metals targets in Newfoundland, particularly the Isle aux Morts Granite and the broader Cape Ray West region. Management emphasizes a multi-layere...
Aumega Metals Files Appendix 4G, Confirms Compliance with ASX Governance Standards
Mar 31, 2026
Aumega Metals Limited has lodged its Appendix 4G and confirmed that its current corporate governance statement for the year ended 31 December 2025 is available on its website, as required under ASX Listing Rules. The company reports that it follow...
AuMEGA Metals Updates Corporate Governance Framework and Board Practices
Mar 31, 2026
AuMEGA Metals has released its latest corporate governance statement, outlining the board’s commitment to high standards of oversight, integrity and risk management in support of long-term shareholder value. The company confirms that it larg...
Aumega Metals Details Governance and Dual-Market Presence in 2025 Annual Report
Mar 31, 2026
Aumega Metals, formerly Matador Mining Ltd, outlined its corporate structure in its annual report for the year ended 31 December 2025, detailing its board of directors, executive leadership and company secretary, as well as its dual Australian and...
AuMEGA Metals Revises Corporate Presentation After ASX Compliance Review
Mar 8, 2026
AuMEGA Metals has reissued its March 2026 corporate presentation after removing two pages that contained a peer comparison not compliant with ASX guidance Listed@ASX Compliance Update #08/18 and #08/24. The company has cautioned investors not to r...
Aumega Metals Issues 98 Million Unquoted Warrants to Bolster Capital Structure
Mar 8, 2026
Aumega Metals Ltd has notified the market of a substantial issue of unquoted equity securities in the form of warrants. The company will issue 98,376,589 unquoted warrants, dated 6 March 2026, under Appendix 3G as previously foreshadowed in an App...
Aumeega Metals Calls Special Meeting to Ratify Major Share and Warrant Issues
Mar 4, 2026
Aumeega Metals Ltd has called a special meeting of shareholders for 10 April 2026 in Perth to vote on a series of capital-related resolutions, including ratifying prior issues of more than 98 million warrants and nearly 100 million tranche one sha...
Aumega Metals seeks C$5.35m via speculative CF unit offer
Mar 3, 2026
Aumega Metals Limited has lodged a transaction-specific prospectus dated 3 March 2026 with ASIC to raise approximately C$5.35 million through a Tranche 1 CF Offer of 98,376,589 CF Units at C$0.0544 per unit, each unit comprising one CF Share and o...
AuMEGA Reaffirms Cape Ray Gold Resource Assumptions and Compliance
Mar 1, 2026
AuMEGA Metals has reiterated the key technical parameters and reporting standards underpinning its Cape Ray Gold Project mineral resource estimate in Newfoundland. The company confirms that no new information has emerged to materially change its p...
Aumega Metals Tweaks Structure of Planned ASX Securities Issue
Feb 24, 2026
Aumega Metals Ltd has lodged an updated Appendix 3B with the ASX detailing a proposed issue of securities via a placement or similar capital-raising structure. The update relates to adjustments in the previously announced two-tranche structure, in...
AuMEGA Metals Locks In Oversubscribed C$30.1m Placement to Accelerate Newfoundland Exploration
Feb 24, 2026
AuMEGA Metals has confirmed it will proceed with its recently announced, oversubscribed C$30.1 million equity financing, led by anchor investor Condire Investors, without accepting any further commitments despite ongoing demand. The updated offeri...
AuMEGA eyes Cape Ray resource uplift amid expanding exploration runway
Feb 4, 2026
AuMEGA’s strategic update underscores a 2023-defined Cape Ray mineral resource of 450,000 ounces indicated and 160,000 ounces inferred, with plans to reassess the resource under higher metal price assumptions, include silver and incorporate ...
AuMEGA Metals Upgrades Key Newfoundland Targets as System-Scale Exploration Gains Traction
Jan 30, 2026
AuMEGA Metals’ latest quarterly report underscores a shift toward system-scale exploration across its Cape Ray district in Newfoundland and Labrador, with integrated till geochemistry, mapping, geophysics and drilling materially improving un...
Aumega Metals Seeks ASX Quotation for 412,088 New Shares
Jan 9, 2026
Aumega Metals Ltd has applied to the ASX for quotation of 412,088 new fully paid ordinary shares, issued on 9 January 2026, following the exercise or conversion of existing options or other convertible securities. The additional shares modestly in...
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
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