Alkane Resources Ltd (ALK) AI Stock Analysis

• Market Cap: AU$2.15B
• Dividend Yield: N/A
• Average Volume (3M): 5.24M
• Price to Earnings (P/E): 28.8
• Beta (1Y): 1.38
• Revenue Growth: 51.66%
• EPS Growth: 86.35%
• Country: AU
• Employees: 105
• Sector: Basic Materials
• Sector Strength: 58
• Industry: Gold
• EPS (TTM): <0.01
• Shares Outstanding: 1,366,204,800
• 10 Day Avg. Volume: 6,697,637
• 30 Day Avg. Volume: 5,239,966
• PEG Ratio: 0.15
• Price to Book (P/B): 1.25
• Price to Sales (P/S): 1.65
• P/FCF Ratio: 31.05
• Enterprise Value/Market Cap: N/A
• Enterprise Value/Revenue: N/A
• Enterprise Value/Gross Profit: N/A
• Enterprise Value/Ebitda: N/A
• 1Y Price Target: AU$1.98
• Price Target Upside: 25.22% Upside
• Rating Consensus: Strong Buy
• Number of Analyst Covering: 4
• EPS Forecast (FY): 0.17
• Revenue Forecast (FY): AU$837.06M

• Rating: 69 Neutral
• Price Target: AU$1.50 ▼(-5.06% Downside)

The score is driven primarily by solid financial performance (strong revenue growth and conservative leverage) but is held back by weak free cash flow trends. Technicals are supportive with a clear uptrend, though overbought signals add caution. Valuation (P/E 23.81) is a modest headwind without a stated dividend yield.

Positive Factors

Revenue Growth

Sustained revenue expansion (27.7%) signals durable demand and operational scaling at core assets. Over the medium term this supports reinvestment into operations and projects, improves ability to service obligations, and provides a base for financing development without relying solely on equity issuance.

Conservative Balance Sheet

A low debt load (D/E ~0.17) and healthy equity base provide financial flexibility to withstand commodity cycles and fund project milestones. Conservative leverage reduces refinancing risk, preserves optionality for strategic partnerships, and supports long-term capital allocation choices.

Operating Asset plus Development Pipeline

Having a producing asset (Tomingley) delivers ongoing revenue while the Boda–Kaiser project offers material optional upside if advanced via partnership. This production+pipeline mix supports steady cash inflows now and scalable growth via JV/farm‑in structures, reducing single-source dependency long term.

Negative Factors

Weak Free Cash Flow

A sharp decline in free cash flow and a low FCF-to-net‑income ratio limit internal funding for capex, exploration and dividends. Persistently weak FCF may force reliance on external funding or project farm‑downs, increasing dilution or slowing development timelines over the medium term.

Margin Compression

Eroding gross and net margins point to pressure from costs, grades or recoveries. If margins remain compressed, profitability and cash conversion will be structurally weaker, reducing the scope for reinvestment and buffering against commodity or cost shocks over coming quarters.

Concentration to Gold and Production Risk

Heavy reliance on a single producing mine and sensitivity to the AUD gold price exposes revenues and cash flows to price and operational volatility. Until pipeline projects are de‑risked, this concentration limits revenue diversification and makes long‑term planning vulnerable to commodity swings.

Alkane Resources Ltd Business Overview & Revenue Model

Company Description

Alkane Resources Limited operates as a gold production company in Australia. It explores for gold, copper, nickel, zinc, and silver deposits. The company holds various interests in the Tomingley Gold project that consists of four gold deposits; and the Northern Molong Porphyry Project, which covers an area of 115 square kilometers located in the Central West of New South Wales. Its exploration projects comprise Boda and Kaiser, Cudal, Peak Hill, Elsienora, Rockley, Armstrongs, Trangie, and Mt Conqueror projects. The company also invests in junior gold mining companies and projects. Alkane Resources Limited was incorporated in 1969 and is headquartered in West Perth, Australia.

How the Company Makes Money

Alkane Resources generates revenue primarily through the sale of gold produced from its mining operations. The company’s revenue model includes the extraction and processing of gold ore, which is then sold to various customers, including bullion traders, refiners, and other entities in the precious metals market. Key revenue streams consist of direct gold sales and potentially future income from other mineral resources discovered during exploration activities. Additionally, strategic partnerships with other mining and exploration companies may enhance its operational efficiency and expand its resource base, contributing to the overall earnings. Market fluctuations in gold prices also significantly influence Alkane's revenue potential, as higher gold prices can lead to increased income from sales.

Alkane Resources Ltd Financial Statement Overview

Summary

Strong revenue growth (27.71%) and low leverage (Debt-to-Equity 0.17) support the score, but declining margins and a sharp deterioration in free cash flow (-130.77% growth; FCF/Net Income 0.19) meaningfully increase risk.

Income Statement

Alkane Resources Ltd has demonstrated strong revenue growth of 27.71% in the latest period, indicating a positive trajectory. The company maintains healthy margins with a Gross Profit Margin of 19.66% and a Net Profit Margin of 12.59%. However, these margins have decreased compared to previous years, suggesting some pressure on profitability. Overall, the income statement reflects solid growth but with some margin compression.

Balance Sheet

The balance sheet shows a stable financial position with a low Debt-to-Equity Ratio of 0.17, indicating conservative leverage. The Return on Equity is moderate at 9.56%, reflecting decent profitability. The Equity Ratio stands at a healthy level, suggesting a strong equity base. However, the decline in ROE from previous years highlights potential challenges in maintaining profitability.

Cash Flow

The cash flow statement reveals a concerning decline in Free Cash Flow, with a negative growth rate of -130.77%. The Operating Cash Flow to Net Income Ratio is close to 1, indicating adequate cash generation relative to net income. However, the Free Cash Flow to Net Income Ratio is low at 0.19, suggesting limited free cash flow generation. Overall, cash flow management appears to be an area needing improvement.

Breakdown	TTM	Dec 2025	Dec 2024	Dec 2023	Dec 2022	Dec 2021
Income Statement
Total Revenue	262.36M	262.36M	172.99M	190.53M	165.01M	127.83M
Gross Profit	53.77M	51.59M	29.85M	71.22M	57.30M	57.37M
EBITDA	101.34M	103.03M	62.93M	97.75M	137.32M	71.12M
Net Income	33.04M	33.04M	17.68M	42.45M	70.25M	55.70M
Balance Sheet
Total Assets	543.29M	543.29M	464.70M	425.77M	367.85M	236.22M
Cash, Cash Equivalents and Short-Term Investments	48.09M	48.09M	45.52M	80.29M	77.89M	18.99M
Total Debt	59.32M	59.32M	49.02M	13.55M	15.05M	9.22M
Total Liabilities	197.60M	197.60M	155.32M	112.19M	86.81M	44.65M
Stockholders Equity	345.69M	345.69M	309.37M	300.00M	268.87M	191.56M
Cash Flow
Free Cash Flow	11.07M	13.93M	-82.59M	3.75M	2.96M	-15.00M
Operating Cash Flow	71.98M	71.98M	52.90M	95.55M	86.48M	71.12M
Investing Cash Flow	-78.66M	-78.66M	-123.52M	-91.43M	-33.24M	-102.73M
Financing Cash Flow	9.25M	9.25M	35.84M	-1.72M	5.67M	2.26M

Alkane Resources Ltd Technical Analysis

• Technical Analysis Sentiment: Positive
• Last Price: 1.58
• 50DMA: Positive
• 100DMA: Positive
• 200DMA: Positive
• MACD: Positive
• RSI: Neutral
• STOCH: Neutral

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For AU:ALK, the sentiment is Positive. The current price of 1.58 is above the 20-day moving average (MA) of 1.56, above the 50-day MA of 1.30, and above the 200-day MA of 0.99, indicating a bullish trend. The MACD of 0.08 indicates Positive momentum. The RSI at 58.27 is Neutral, neither overbought nor oversold. The STOCH value of 31.21 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for AU:ALK.

Alkane Resources Ltd Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
ALK	69 Neutral	AU$2.15B	28.85	9.84%	―	51.66%	86.35%
KCN	63 Neutral	AU$1.52B	49.78	10.01%	―	153.02%	-85.25%
Sector *	61 Neutral	$10.43B	7.12	-0.05%	2.87%	2.86%	-36.73%
MEK	54 Neutral	AU$721.74M	-122.50	-4.97%	―	―	16.67%
TCG	54 Neutral	AU$742.20M	-38.74	―	―	―	―
BC8	49 Neutral	AU$1.08B	-31.97	-13.44%	―	―	-267.46%
SBM	46 Neutral	$871.05M	-7.30	-15.01%	―	-3.61%	-49.39%

Alkane Resources Ltd Corporate Events

Alkane Director Reduces Shareholding Through On‑Market Sales

Alkane Resources Ltd has reported a change in the shareholding of director Frazer William Bourchier, in line with ASX disclosure requirements. Bourchier conducted a series of on‑market share sales over three consecutive days in late January 2026, disposing of a total of 460,912 Alkane shares for consideration denominated in Canadian dollars, and reducing his direct holding from 3,840,928 to 3,380,016 ordinary shares; the company noted the trades did not occur during a closed period, indicating standard course personal dealing rather than activity subject to trading restrictions.

The most recent analyst rating on (AU:ALK) stock is a Buy with a A$2.00 price target. To see the full list of analyst forecasts on Alkane Resources Ltd stock, see the AU:ALK Stock Forecast page.

Alkane Resources Posts Record Quarterly Output and Cash Build on Mandalay Merger Synergies

Alkane Resources reported record quarterly group production for the three months to 31 December 2025, delivering 43,663 gold-equivalent ounces at an all-in sustaining cost of $2,739 per ounce and site operating cash flow of $133 million. The strong result, driven by improved output at Tomingley and the first full quarter of production from Björkdal and Costerfield post-merger, lifted cash, bullion and listed investments to $246 million despite tax payments, while quarterly sales of 44,084 gold-equivalent ounces generated revenue of $256 million at robust realised gold and antimony prices; simultaneous high-grade exploration successes at Storheden and Tomingley, and progress on key infrastructure such as the Newell Highway realignment, reinforce Alkane’s production guidance of 160,000–175,000 gold-equivalent ounces for FY26 and strengthen its operational and balance-sheet position for stakeholders.

The most recent analyst rating on (AU:ALK) stock is a Buy with a A$2.00 price target. To see the full list of analyst forecasts on Alkane Resources Ltd stock, see the AU:ALK Stock Forecast page.

Alkane Resources Lifts Cash Reserves on Strong December Quarter Output

Alkane Resources reported a solid December 2025 quarter with production of 43,663 ounces of gold equivalent from its Tomingley, Costerfield and Björkdal operations, including 42,767 ounces of gold and 267 tonnes of antimony, while group year-to-date output reached 80,070 gold-equivalent ounces. The miner ended the quarter with A$246 million in cash, bullion and listed investments, up A$55 million despite an A$11 million income tax payment, remains effectively debt free apart from A$22 million in equipment finance, and reaffirmed its FY2026 production guidance of 160,000–175,000 gold-equivalent ounces at an all-in sustaining cost of A$2,600–A$2,900 per ounce, underscoring strengthened financial capacity and operational stability following the integration of its three mine portfolio.

The most recent analyst rating on (AU:ALK) stock is a Hold with a A$1.50 price target. To see the full list of analyst forecasts on Alkane Resources Ltd stock, see the AU:ALK Stock Forecast page.

Alkane Resources Lists New Shares Issued Under Employee Bonus Plan

Alkane Resources Limited has applied for quotation on the ASX of 823 new ordinary fully paid shares issued on 7 January 2026 under its Bonus Employee Share Plan. The new securities, valued at A$1,000 and granted to an eligible employee, reflect the company’s continued use of equity-based remuneration to incentivise staff and minimally expand its share capital without a material impact on existing shareholders.

The most recent analyst rating on (AU:ALK) stock is a Hold with a A$1.50 price target. To see the full list of analyst forecasts on Alkane Resources Ltd stock, see the AU:ALK Stock Forecast page.

Alkane Resources Blames Administrative Oversight for Late Director Interest Notice

Alkane Resources has responded to an ASX query regarding the late lodgement of an Appendix 3Y notice detailing changes in director Bradford Mills’ notifiable interests, acknowledging that the filing was delayed due to an administrative oversight. The company stated that all directors are aware of their disclosure obligations, that it has reviewed and considers its existing compliance arrangements adequate, and that it has reminded directors of notification timeframes and added a board agenda item to reinforce awareness, characterising the incident as isolated rather than indicative of systemic issues.

The most recent analyst rating on (AU:ALK) stock is a Hold with a A$1.00 price target. To see the full list of analyst forecasts on Alkane Resources Ltd stock, see the AU:ALK Stock Forecast page.

Alkane Resources Issues Bonus Shares to Employees Under Incentive Plan

Alkane Resources Limited has applied for quotation on the ASX of 409,031 new ordinary fully paid shares issued on 22 December 2025. The shares have been granted as a bonus allocation to eligible employees under the company’s Bonus Employee Share Plan, representing a non-cash remuneration initiative designed to reward staff and align employee incentives with shareholder interests through increased equity participation.

The most recent analyst rating on (AU:ALK) stock is a Hold with a A$1.00 price target. To see the full list of analyst forecasts on Alkane Resources Ltd stock, see the AU:ALK Stock Forecast page.

Alkane Director Bradford Mills Trims Indirect Shareholding in On-Market Trade

Alkane Resources Ltd has disclosed a change in the interests of Director Bradford Allan Mills, who holds both direct and indirect stakes in the company’s ordinary fully paid shares. Through the indirect holding vehicle CE Mining III MND Limited, Mills disposed of 1,450,000 Alkane shares via an on‑market sale on 8 and 9 December 2025 at an average price of $1.0206 per share, reducing that indirect holding to 178,385,831 shares while his direct holding remains unchanged at 1,608,074 shares. The transaction, reported under ASX listing rule requirements, reflects a modest adjustment to a large existing shareholding without indicating any change to the company’s operational strategy or governance structure.

The most recent analyst rating on (AU:ALK) stock is a Hold with a A$1.00 price target. To see the full list of analyst forecasts on Alkane Resources Ltd stock, see the AU:ALK Stock Forecast page.

Alkane Extends Depth and Strike of Storheden Gold Discovery at Björkdal

Alkane Resources has reported encouraging drilling results from the Storheden deposit, about 600 metres north of its operating Björkdal mine in Sweden, showing gold-bearing quartz veins down to 464 metres—more than double the previously tested depth of 200 metres—and extending the strike length of known mineralisation to over 2.7 kilometres. The company says the deposit remains open at depth with no sign of weakening grades, and that Storheden’s geology appears to mirror and potentially converge with the main Björkdal system, positioning it as a potential new high‑grade production area that could replace lower-grade stockpile feed, support resource growth and enhance the long‑term production profile of the Björkdal operation.

The most recent analyst rating on (AU:ALK) stock is a Hold with a A$1.00 price target. To see the full list of analyst forecasts on Alkane Resources Ltd stock, see the AU:ALK Stock Forecast page.

Alkane Resources Director Acquires New Performance Rights

Alkane Resources Ltd announced a change in the director’s interest, with Nicholas Paul Earner acquiring 977,921 LTI FY2026 performance rights. This acquisition was approved by shareholders at the Annual General Meeting, indicating shareholder support for the company’s long-term incentive plans, which could impact the company’s strategic direction and stakeholder confidence.

The most recent analyst rating on (AU:ALK) stock is a Hold with a A$1.00 price target. To see the full list of analyst forecasts on Alkane Resources Ltd stock, see the AU:ALK Stock Forecast page.

Alkane Resources Appoints New Director to Strengthen Leadership

Alkane Resources Limited has announced the appointment of Denise Patricia McComish as a new director, effective from December 1, 2025. This appointment is part of the company’s ongoing efforts to strengthen its leadership team, which could potentially impact its strategic direction and stakeholder relations positively.

The most recent analyst rating on (AU:ALK) stock is a Hold with a A$1.00 price target. To see the full list of analyst forecasts on Alkane Resources Ltd stock, see the AU:ALK Stock Forecast page.

Alkane Resources Secures Shareholder Support at AGM

Alkane Resources Ltd announced that all resolutions at its Annual General Meeting were passed, indicating strong shareholder support for the company’s strategic direction. This outcome reinforces Alkane’s position in the mining industry, potentially boosting stakeholder confidence and supporting its growth trajectory in gold and antimony production.

The most recent analyst rating on (AU:ALK) stock is a Hold with a A$1.00 price target. To see the full list of analyst forecasts on Alkane Resources Ltd stock, see the AU:ALK Stock Forecast page.

Alkane Resources Ltd Reaffirms Commitment to Transparency and Strategic Projects at 2025 AGM

Alkane Resources Ltd held its 2025 Annual General Meeting, where it reiterated its commitment to maintaining transparency and accuracy in its reporting of mineral resources and ore reserves. The company emphasized the importance of its ongoing projects, such as the Boda-Kaiser Copper-Gold Project and the Tomingley and Peak Hill Gold Projects in New South Wales, as well as the Björkdal Gold Mine in Sweden. These projects are crucial for Alkane’s strategic positioning in the mining sector, with a focus on sustainable operations and cost management. The company also highlighted the use of non-IFRS measures like all-in sustaining costs to provide a clearer picture of its financial performance, although these may not be directly comparable to other companies.

The most recent analyst rating on (AU:ALK) stock is a Hold with a A$1.00 price target. To see the full list of analyst forecasts on Alkane Resources Ltd stock, see the AU:ALK Stock Forecast page.

Alkane Resources Prepares for Hybrid AGM with Proxy Voting Summary

Alkane Resources Ltd is set to address its shareholders at the upcoming Annual General Meeting (AGM), which will be conducted both in-person and online. The company has released a summary of proxy votes received ahead of the AGM, with results to be announced shortly after the meeting. This event is part of Alkane’s ongoing efforts to engage with stakeholders and provide updates on its operations and strategic direction.

The most recent analyst rating on (AU:ALK) stock is a Hold with a A$1.00 price target. To see the full list of analyst forecasts on Alkane Resources Ltd stock, see the AU:ALK Stock Forecast page.

Alkane Resources Appoints Denise McComish as Non-Executive Director

Alkane Resources Ltd has appointed Ms. Denise McComish as an independent Non-Executive Director and Chair of the Audit & Risk Committee, effective December 1, 2025. With her extensive experience in financial strategy, governance, and ESG matters, Ms. McComish is expected to contribute significantly to Alkane’s board, aligning with the company’s objective to deliver long-term value to shareholders and stakeholders.

The most recent analyst rating on (AU:ALK) stock is a Hold with a A$1.00 price target. To see the full list of analyst forecasts on Alkane Resources Ltd stock, see the AU:ALK Stock Forecast page.

Alkane Resources Issues Unquoted Securities Under Incentive Scheme

Alkane Resources Ltd announced the issuance of 2,554,928 unquoted securities under an employee incentive scheme. These securities, classified as FY2026 Performance Rights, are subject to transfer restrictions and will not be quoted on the ASX until these restrictions are lifted. This move is part of the company’s strategy to motivate and retain key personnel, potentially impacting its operational efficiency and market competitiveness.

The most recent analyst rating on (AU:ALK) stock is a Buy with a A$1.65 price target. To see the full list of analyst forecasts on Alkane Resources Ltd stock, see the AU:ALK Stock Forecast page.

Alkane Resources Ltd Highlights Q1 FY 2026 Mineral Resource Stability

Alkane Resources Ltd has released its Q1 FY 2026 earnings conference call presentation, highlighting its mineral resources and ore reserves across various projects. The company emphasizes the importance of its technical reports compliant with Canadian and Australian standards, which support its mineral resource estimates. Alkane reassures stakeholders that there have been no material changes to the assumptions and technical parameters underpinning these estimates, indicating stability in its resource base.

The most recent analyst rating on (AU:ALK) stock is a Buy with a A$1.40 price target. To see the full list of analyst forecasts on Alkane Resources Ltd stock, see the AU:ALK Stock Forecast page.

Alkane Resources Ltd Reports Q1 2026 Financial and Operational Results

Alkane Resources Ltd has released its management discussion and analysis for the first quarter of 2026, highlighting financial and operational results. The report provides insights into the company’s financial performance, exploration highlights, and risk management strategies, which are crucial for stakeholders to assess the company’s future prospects and industry positioning.

The most recent analyst rating on (AU:ALK) stock is a Buy with a A$1.40 price target. To see the full list of analyst forecasts on Alkane Resources Ltd stock, see the AU:ALK Stock Forecast page.

Alkane Resources Ltd Releases Q3 Financial Statements

Alkane Resources Ltd has released its condensed consolidated interim financial statements for the three months ending September 30, 2025, and 2024. The statements provide insights into the company’s financial performance, including profit or loss, comprehensive income, financial position, changes in equity, and cash flows. This release is crucial for stakeholders as it offers a detailed view of the company’s financial health and operational efficiency over the specified period.

The most recent analyst rating on (AU:ALK) stock is a Buy with a A$1.40 price target. To see the full list of analyst forecasts on Alkane Resources Ltd stock, see the AU:ALK Stock Forecast page.

Alkane Resources Reports Strong Q1 FY2026 Results Amid Strategic Merger

Alkane Resources Ltd reported strong financial results for Q1 FY2026, following its merger with Mandalay Resources Corporation. The company achieved a significant increase in revenue to $147.2 million, driven by enhanced production and sales from its expanded portfolio. Despite a consolidated net loss of $2.7 million due to increased operating costs and one-off merger expenses, Alkane maintains a robust financial position with $191 million in cash, bullion, and investments. This strategic merger positions Alkane as a more substantial player in the mining industry, with implications for enhanced market presence and operational scale.

The most recent analyst rating on (AU:ALK) stock is a Buy with a A$1.40 price target. To see the full list of analyst forecasts on Alkane Resources Ltd stock, see the AU:ALK Stock Forecast page.

Alkane Resources to Announce Q1 FY2026 Financial Results

Alkane Resources Ltd is set to release its Q1 FY2026 operating and financial results on 13 November 2025. Following the release, a conference call and webcast will be hosted by the company’s Managing Director & CEO, Nic Earner, and CFO, James Carter, to discuss the results. This announcement is significant as it provides stakeholders with insights into the company’s financial health and operational performance, potentially impacting its market positioning and investor confidence.

The most recent analyst rating on (AU:ALK) stock is a Buy with a A$1.40 price target. To see the full list of analyst forecasts on Alkane Resources Ltd stock, see the AU:ALK Stock Forecast page.

Alkane Resources to Present at Key Mining Conferences

Alkane Resources Ltd announced that its Managing Director & CEO, Nic Earner, will be presenting at several upcoming mining and investment conferences in Zurich and London. These presentations are part of Alkane’s strategy to engage with investors and showcase its growth potential, supported by its strong balance sheet and ongoing exploration efforts. The company’s participation in these events underscores its commitment to expanding its market presence and enhancing stakeholder value.

The most recent analyst rating on (AU:ALK) stock is a Buy with a A$1.40 price target. To see the full list of analyst forecasts on Alkane Resources Ltd stock, see the AU:ALK Stock Forecast page.