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Australian Strategic Materials Ltd
(Sydney:ASM)
Australian Strategic Materials Ltd (ASM) vs. iShares MSCI Australia ETF (EWA)
Australian Strategic Materials Ltd Business Overview & Revenue Model
Australian Strategic Materials Ltd Financial Statement Overview
| 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
Australian Strategic Materials Ltd Peers Comparison
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% | |
47 Neutral | AU$396.86M | -3.48 | -10.21% | ― | 2.00% | 8.82% | |
47 Neutral | AU$89.04M | -11.27 | -10.46% | ― | -85.84% | 73.66% | |
46 Neutral | AU$78.88M | -5.71 | -8.98% | ― | ― | 42.69% | |
41 Neutral | AU$25.47M | -3.95 | -105.69% | ― | -100.00% | 8.51% | |
37 Underperform | AU$25.10M | -352.11 | 74.51% | ― | 71.37% | 82.48% |
Australian Strategic Materials Ltd Corporate Events
Australian Strategic Materials Ltd has disclosed a change in director Dominic John Heaton’s shareholding following participation in a share placement. Heaton acquired 41,667 ordinary fully paid shares at $1.20 per share on 13 March 2026, increasing his direct holding from 53,126 to 94,793 shares.
The new shares were issued as part of a broader placement that had been announced in October 2025 and subsequently approved by shareholders at a general meeting in February 2026. The transaction did not occur during a closed trading period, indicating compliance with the company’s trading policies and continuous disclosure obligations.
The most recent analyst rating on (AU:ASM) stock is a Hold with a A$1.50 price target. To see the full list of analyst forecasts on Australian Strategic Materials Ltd stock, see the AU:ASM Stock Forecast page.
Australian Strategic Materials Limited has issued 2,841,667 fully paid ordinary shares at $1.20 per share to non-executive director Dominic Heaton and substantial shareholder Chapelgreen Pty Ltd or their nominees, following prior shareholder approval. The company confirmed the issuance was made without a prospectus under the Corporations Act, stated it is compliant with its financial reporting and continuous disclosure obligations, and reported there is no excluded information that must be disclosed to the market.
The notice reinforces that the share placement to key existing stakeholders was conducted in accordance with Australian corporate law provisions governing secondary share issues. It also signals that ASM remains up to date with its regulatory and reporting duties, providing reassurance to investors that the capital raising has been executed within the required compliance framework.
The most recent analyst rating on (AU:ASM) stock is a Hold with a A$1.50 price target. To see the full list of analyst forecasts on Australian Strategic Materials Ltd stock, see the AU:ASM Stock Forecast page.
Australian Strategic Materials Ltd has lodged an application with the ASX for quotation of 2,841,667 new ordinary fully paid shares under the code ASM, with an issue date of March 13, 2026. The additional quoted securities, issued under a previously announced transaction, will expand the company’s listed capital base and may enhance trading liquidity and access to equity funding for its strategic materials operations.
This latest share quotation forms part of ASM’s ongoing use of the capital markets to support its business, signalling continued corporate activity and engagement with investors in the strategic materials space. The move may influence existing shareholders through dilution but also positions the company with a broader platform of tradeable securities as it advances its growth and operational plans.
The most recent analyst rating on (AU:ASM) stock is a Hold with a A$1.50 price target. To see the full list of analyst forecasts on Australian Strategic Materials Ltd stock, see the AU:ASM Stock Forecast page.
Australian Strategic Materials has amended the terms of its proposed acquisition by Energy Fuels, shifting a previously planned unfranked special dividend of up to A$0.13 per share into a direct A$0.13 cash payment from Energy Fuels to ASM shareholders on the scheme record date. In addition to this cash component, shareholders will also receive 0.053 Energy Fuels shares or CHESS Depositary Interests per ASM share, with all other key terms of the transaction remaining unchanged.
The Option Scheme consideration for ASM option holders is unaffected by the revised structure, preserving the original treatment for quoted options. ASM’s board continues to unanimously recommend that securityholders vote in favour of both the Share Scheme and Option Scheme, with scheme meetings expected in the second quarter of 2026 and implementation targeted before 30 June 2026, subject to court and securityholder approvals.
The most recent analyst rating on (AU:ASM) stock is a Hold with a A$1.50 price target. To see the full list of analyst forecasts on Australian Strategic Materials Ltd stock, see the AU:ASM Stock Forecast page.
Australian Strategic Materials Ltd has released its interim financial report for the half-year ended 31 December 2025, including the Directors’ Report and reviewed consolidated financial statements. The report outlines the group’s operations, financial position, and governance arrangements over the period, providing investors with an update on performance and key corporate details.
The document confirms the composition of the board, highlights the company’s continued listing on the ASX, and details its corporate directory including registered office and key external service providers. This interim disclosure supports ongoing transparency and regulatory compliance, giving stakeholders a formal snapshot of ASM’s financial status at the half-year mark.
The most recent analyst rating on (AU:ASM) stock is a Hold with a A$1.50 price target. To see the full list of analyst forecasts on Australian Strategic Materials Ltd stock, see the AU:ASM Stock Forecast page.
Australian Strategic Materials Limited announced that all resolutions presented at its Extraordinary General Meeting on 23 February 2026 were passed by shareholders via poll. The resolutions included ratification of previously issued placement shares under ASX Listing Rules 7.1 and 7.1A and approval for further share issues to key investors and related parties.
The strong support across all resolutions confirms shareholder backing for ASM’s recent capital raising and equity allocation strategy. This outcome provides the company with greater flexibility in managing its capital structure and funding plans, reinforcing its ability to advance strategic projects and potentially strengthening its position within the critical materials sector.
The most recent analyst rating on (AU:ASM) stock is a Hold with a A$1.50 price target. To see the full list of analyst forecasts on Australian Strategic Materials Ltd stock, see the AU:ASM Stock Forecast page.
Australian Strategic Materials has informed the market that it received a formal disclosure letter from London-based Kryger Capital Limited regarding Kryger’s financial exposure to ASM shares via equity derivatives. The company said the correspondence, released under Australian Takeovers Panel Guidance Note 20, outlines Kryger’s use of contracts for difference referenced to ASM’s ordinary shares.
According to the notice, Kryger holds long contracts for difference over 16,114,576 ASM shares as of 4 February 2026, with a reference price of A$1.566394 as at 21 January 2026. The disclosure states that Kryger has no offsetting short positions or associates with additional long equity derivative interests in ASM, signalling a sizable but purely long economic interest that may be relevant to investors monitoring potential changes in ASM’s share register or control dynamics.
The most recent analyst rating on (AU:ASM) stock is a Hold with a A$1.50 price target. To see the full list of analyst forecasts on Australian Strategic Materials Ltd stock, see the AU:ASM Stock Forecast page.
Australian Strategic Materials Ltd has applied for quotation on the ASX of 33 additional ordinary fully paid shares, issued on 6 February 2026 following the exercise or conversion of existing options or other convertible securities. The minor increase in quoted capital reflects routine securities issuance and does not materially alter the company’s capital structure, but maintains transparency and compliance with ASX listing requirements for shareholders and the market.
The application, lodged as a new announcement on 10 February 2026, confirms that the new shares will rank equally with existing ASM ordinary shares once quoted. This administrative step underscores the company’s ongoing use of equity-based instruments and its adherence to listing rule processes, providing clarity to investors on incremental changes in the number of ASM securities on issue.
The most recent analyst rating on (AU:ASM) stock is a Hold with a A$1.50 price target. To see the full list of analyst forecasts on Australian Strategic Materials Ltd stock, see the AU:ASM Stock Forecast page.
Australian Strategic Materials reported strong operational momentum for the December 2025 quarter, highlighted by a 75% quarter-on-quarter increase in NdFeB alloy deliveries from its Korean Metals Plant to about 24.3 tonnes and ongoing progress on Phase 2 expansion that would lift alloy production capacity to roughly 3,600 tonnes per annum. The company also advanced heavy rare earth capabilities through pilot-scale metallisation furnace testing and progressed a heap leach pre-feasibility study for the Dubbo Project, including an alternative pathway to produce mixed rare earth hydroxide. Post-quarter, ASM received a unanimously recommended acquisition offer from US-based Energy Fuels Inc., described as a transformational deal that could significantly enhance shareholder value and accelerate the creation of a Western “mine to metal & alloy” rare earths champion, while strengthening ASM’s role in a more secure, diversified critical minerals supply chain for customers and government stakeholders in Australia and the United States.
The most recent analyst rating on (AU:ASM) stock is a Hold with a A$2.00 price target. To see the full list of analyst forecasts on Australian Strategic Materials Ltd stock, see the AU:ASM Stock Forecast page.
Australian Strategic Materials has postponed its extraordinary general meeting from 28 January 2026 to 23 February 2026 in West Perth, allowing additional time for shareholders to consider updated information related to a proposed acquisition by Energy Fuels Inc. The delay follows ASM’s announcement of a court-approved scheme of arrangement under which Energy Fuels would acquire 100% of ASM, with shareholders to receive Energy Fuels scrip plus a special cash dividend, and optionholders to be separately offered cash for the cancellation of quoted options; the company has also clarified how new shares issued to certain directors would participate and vote in the scheme, ensuring shareholders can make an informed decision on resolutions that may affect entitlements under the transaction.
The most recent analyst rating on (AU:ASM) stock is a Hold with a A$1.50 price target. To see the full list of analyst forecasts on Australian Strategic Materials Ltd stock, see the AU:ASM Stock Forecast page.
Australian Strategic Materials has announced that its Managing Director and CEO, Rowena Smith, and Energy Fuels President and CEO, Mark Chalmers, will host a joint webcast to discuss Energy Fuels’ proposed acquisition of ASM under a recently executed binding Scheme Implementation Deed. The webcast, scheduled for 21 January 2026, is aimed at investors, analysts and media, signalling a key communication step in the transaction process and underscoring the strategic significance of the deal for both companies’ stakeholders in the critical materials value chain.
The most recent analyst rating on (AU:ASM) stock is a Sell with a A$0.68 price target. To see the full list of analyst forecasts on Australian Strategic Materials Ltd stock, see the AU:ASM Stock Forecast page.
Energy Fuels Inc. has agreed to acquire 100% of Australian Strategic Materials via a court-approved scheme of arrangement, valuing ASM at an implied A$1.60 per share, or about A$447 million on a fully diluted basis, through a mix of Energy Fuels stock (or ASX-listed CDIs) and an unfranked special dividend of up to A$0.13 per share. The deal, unanimously recommended by ASM’s board and supported by directors holding about 13.8% of the company, offers shareholders a premium of more than 120% to the last closing price and includes a concurrent cash offer for listed options, while positioning the combined business as a near-term Western rare earths “mine to metal and alloy” champion with enhanced funding capacity, reduced execution risk and diversified exposure to uranium, rare earths and vanadium, supported by an Energy Fuels secondary ASX listing for ongoing investor access.
The most recent analyst rating on (AU:ASM) stock is a Sell with a A$0.68 price target. To see the full list of analyst forecasts on Australian Strategic Materials Ltd stock, see the AU:ASM Stock Forecast page.
Australian Strategic Materials has updated the market on a change in director Rowena Smith’s interests, following the grant of additional FY26 short-term incentive (STI) and long-term incentive (LTI) performance rights at no cash consideration. Smith has been issued 787,097 FY26 STI Performance Rights and 787,097 FY26 LTI Performance Rights, increasing her total holdings of various performance rights and securities in the company, in line with its remuneration and incentive framework to align executive interests with company performance.
The most recent analyst rating on (AU:ASM) stock is a Hold with a A$0.50 price target. To see the full list of analyst forecasts on Australian Strategic Materials Ltd stock, see the AU:ASM Stock Forecast page.
Australian Strategic Materials Limited has notified the market of the issue of 4,212,740 unquoted performance rights under its employee incentive scheme, effective 22 December 2025. The additional performance rights, which will not be quoted on the ASX, indicate ASM’s continued use of equity incentives to align employees’ interests with shareholders, potentially leading to future dilution but supporting talent retention and performance-based remuneration.
The most recent analyst rating on (AU:ASM) stock is a Hold with a A$0.50 price target. To see the full list of analyst forecasts on Australian Strategic Materials Ltd stock, see the AU:ASM Stock Forecast page.