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Australian Strategic Materials Ltd
(Sydney:ASM)
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Rating:44Neutral
Price Target:
AU$0.97
▼(-7.21% Downside)
Action:Reiterated
Date:06/12/26
The score is primarily held down by weak financial quality (ongoing losses and negative operating/free cash flow) and bearish technical momentum (price below key moving averages with negative MACD). Low leverage supports the balance sheet, but a negative P/E and no dividend yield provided limit valuation support.
Positive Factors
Revenue Growth
Sustained top-line expansion (64% growth) signals strengthening product demand and progressing commercialization. Over a multi-month horizon this improves scale economics, supports deeper customer qualification, and underpins investments in processing capacity and margin expansion if trend persists.
Negative Factors
Negative Cash Flow
Persistent negative operating and free cash flow constrains internal funding for capex, commercial scale-up and working capital. Over several months this increases dependence on external financing, risks dilution, and can delay full utilization of processing assets or customer qualification timelines.
Read all positive and negative factors
Positive Factors
Negative Factors
Revenue Growth
Sustained top-line expansion (64% growth) signals strengthening product demand and progressing commercialization. Over a multi-month horizon this improves scale economics, supports deeper customer qualification, and underpins investments in processing capacity and margin expansion if trend persists.
Read all positive factors
Australian Strategic Materials Ltd (ASM) vs. iShares MSCI Australia ETF (EWA)
Market Cap
AU$270.37M
Dividend Yield13.01%
Average Volume (3M)1.60M
Price to Earnings (P/E)―
Beta (1Y)2.31
Revenue Growth294.23%
EPS Growth37.64%
CountryAU
Employees73
SectorBasic Materials
Sector Strength58
IndustryOther Precious Metals
Share Statistics
EPS (TTM)-0.11
Shares Outstanding271,730,680
10 Day Avg. Volume3,710,543
30 Day Avg. Volume1,600,267
Financial Highlights & Ratios
PEG Ratio0.54
Price to Book (P/B)0.49
Price to Sales (P/S)17.41
P/FCF Ratio-3.12
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)-0.1
Revenue Forecast (FY)AU$46.90M
Australian Strategic Materials Ltd Business Overview & Revenue Model
Company Description
Australian Strategic Materials Ltd (ASM) is an integrated Australian-based producer specializing in critical metals essential for advanced and environmentally conscious technologies. A key asset is the company's interest in the Dubbo Project, loca...
How the Company Makes Money
ASM’s revenue model is centered on selling processed critical mineral products rather than only developing mineral projects. Key revenue streams include: (1) Sales of refined oxides/metals from its processing operations (notably the Korean Metals ...
Australian Strategic Materials Ltd Financial Statement Overview
Summary
Income Statement
45
Neutral
Balance Sheet
55
Neutral
Cash Flow
40
Negative
| Breakdown | TTM | Jun 2025 | Jun 2024 | Jun 2023 | Jun 2022 | Jun 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 8.85M | 5.09M | 3.11M | 4.44M | 1.87M | 1.38M |
| Gross Profit | -2.75M | 3.41M | -10.47M | -11.32M | -11.21M | -2.40M |
| EBITDA | -17.59M | -20.10M | -22.51M | -26.02M | -26.37M | -1.00M |
| Net Income | -21.57M | -24.57M | -25.15M | -26.27M | -24.27M | -783.00K |
Balance Sheet | ||||||
| Total Assets | 279.07M | 227.17M | 258.96M | 267.22M | 250.70M | 228.63M |
| Cash, Cash Equivalents and Short-Term Investments | 69.67M | 19.01M | 47.60M | 56.66M | 60.22M | 93.32M |
| Total Debt | 3.60M | 14.05M | 16.86M | 17.70M | 17.27M | 0.00 |
| Total Liabilities | 38.00M | 45.70M | 54.37M | 51.26M | 51.00M | 26.03M |
| Stockholders Equity | 241.03M | 181.44M | 204.58M | 215.92M | 199.62M | 202.55M |
Cash Flow | ||||||
| Free Cash Flow | -20.78M | -28.44M | -30.79M | -47.29M | -78.61M | -14.21M |
| Operating Cash Flow | -15.14M | -16.16M | -15.62M | -35.02M | -37.59M | -5.21M |
| Investing Cash Flow | -5.28M | -8.00M | -7.69M | -7.98M | -33.53M | -9.29M |
| Financing Cash Flow | 58.94M | -4.53M | 14.35M | 39.78M | 38.04M | 89.29M |
Australian Strategic Materials Ltd Technical Analysis
Negative
1.04
Price Trends
1.22
Negative
1.37
Negative
1.22
Negative
Market Momentum
-0.07
Negative
39.55
Neutral
16.67
Positive
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For AU:ASM, the sentiment is Negative. The current price of 1.04 is below the 20-day moving average (MA) of 1.06, below the 50-day MA of 1.22, and below the 200-day MA of 1.22, indicating a bearish trend. The MACD of -0.07 indicates Negative momentum. The RSI at 39.55 is Neutral, neither overbought nor oversold. The STOCH value of 16.67 is Positive, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for AU:ASM.
Australian Strategic Materials 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% | |
50 Neutral | AU$158.39M | -5.46 | -54.77% | ― | -4.13% | 5.02% | |
46 Neutral | AU$255.41M | -0.86 | -30.65% | ― | 6.78% | 32.51% | |
45 Neutral | AU$238.60M | -7.58 | -128.41% | ― | ― | 36.54% | |
44 Neutral | AU$270.37M | -9.05 | -10.21% | 12.45% | 294.23% | 37.64% | |
44 Neutral | AU$23.63M | -4.11 | -19.53% | ― | ― | -8.74% | |
43 Neutral | AU$61.07M | -0.78 | -67.75% | ― | ― | 69.69% |
* Basic Materials Sector Average
AU:ASM
Australian Strategic Materials Ltd
0.99
0.44
81.65%
AU:SYR
Syrah Resources
0.11
-0.15
-58.17%
AU:NTU
Northern Minerals Limited
0.03
>-0.01
-21.21%
AU:TLG
Talga Group
0.29
-0.17
-37.36%
AU:HAS
Hastings Technology Metals Limited
0.28
<0.01
2.23%
AU:AR3
Australian Rare Earths Limited
0.09
>-0.01
-8.16%
Australian Strategic Materials Ltd Corporate Events
ASM dispatches supplementary scheme booklet ahead of Energy Fuels takeover vote
Jul 31, 2026
Australian Strategic Materials Ltd has begun dispatching its Supplementary Scheme Booklet to securityholders as part of the proposed acquisition by EFR Critical Materials Pty Ltd, a wholly owned subsidiary of Energy Fuels Inc., via concurrent sche...
ASM ramps up rare earth output as Energy Fuels merger advances
Jul 30, 2026
Australian Strategic Materials reported continued growth in rare earth metal and alloy output from its Korean Metals Plant, which shipped about 45 tonnes of NdFeB alloy and NdPr metal in the June quarter. The company completed installation of eigh...
ASM Wins Court Approval to Advance Energy Fuels Acquisition Schemes
Jul 27, 2026
Australian Strategic Materials Ltd has secured Federal Court approval to reschedule shareholder and optionholder meetings for 12 August 2026 to vote on schemes for the acquisition of all ASM shares and quoted options by EFR Critical Materials Pty ...
Australian Strategic Materials Updates Market on CEO Performance Rights Vesting and Capital Structure
Jul 27, 2026
Australian Strategic Materials Limited has announced that 27,357 performance rights granted to its Chief Executive Officer and Managing Director on 2 February 2022 have vested and are now capable of exercise. The vesting adds to the company’...
ASM updates market on Energy Fuels takeover and postpones scheme meetings
Jun 23, 2026
Australian Strategic Materials Limited has provided an update on the proposed acquisition by Energy Fuels Inc.’s subsidiary, which is pursuing 100% of ASM’s shares and quoted options via schemes of arrangement. ASM remains focused on p...
ASM delays scheme meetings as Energy Fuels financing triggers fresh disclosure
Jun 19, 2026
Australian Strategic Materials Limited has updated investors on the proposed acquisition by Energy Fuels’ subsidiary, confirming that the transaction will proceed via dual schemes of arrangement covering all fully paid ordinary shares and qu...
ASM Requests Trading Halt Ahead of Schemes of Arrangement Update
Jun 18, 2026
Australian Strategic Materials Limited has requested a trading halt on its ordinary shares and quoted options on the ASX, as the company prepares an update on its proposed schemes of arrangement with shareholders and optionholders, originally anno...
ASM corrects proxy form error ahead of Energy Fuels takeover vote
Jun 3, 2026
Australian Strategic Materials has updated investors on the administrative handling of proxy forms and access letters linked to the proposed acquisition by EFR Critical Materials, a subsidiary of Energy Fuels, via concurrent schemes of arrangement...
ASM Sends Scheme Booklet Ahead of Energy Fuels Takeover Vote
May 21, 2026
Australian Strategic Materials has dispatched its Scheme Booklet to shareholders and optionholders for the proposed acquisition by EFR Critical Materials, a wholly owned subsidiary of U.S.-based Energy Fuels Inc, via parallel schemes of arrangemen...
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.