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Bathurst Resources Ltd
(Sydney:BRL)
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Rating:48Neutral
Price Target:
AU$0.45
▲(8.78% Upside)
Action:Reiterated
Date:07/21/26
The score is weighed down primarily by weak financial performance (declining profitability and negative free-cash-flow dynamics) and a bearish technical setup (price below key moving averages with negative MACD and low RSI). A relatively strong, low-leverage balance sheet provides some offset, while valuation inputs are inconclusive due to a negative P/E and no dividend yield data.
Positive Factors
Low Leverage / Strong Equity
A low debt-to-equity profile and strong equity position provide durable financial flexibility, lowering refinancing and default risk. This supports capital expenditure funding for mines and buffers commodity cycles, enabling longer-term operational continuity and strategic optionality.
Negative Factors
Declining Revenue
A nearly 30% revenue decline points to weakening demand, pricing or production issues. Persisting top-line contraction undermines scale economics, limits reinvestment capacity, and increases per-unit costs, making it harder to restore margins and fund mine development sustainably.
Read all positive and negative factors
Positive Factors
Negative Factors
Low Leverage / Strong Equity
A low debt-to-equity profile and strong equity position provide durable financial flexibility, lowering refinancing and default risk. This supports capital expenditure funding for mines and buffers commodity cycles, enabling longer-term operational continuity and strategic optionality.
Read all positive factors
Bathurst Resources Ltd (BRL) vs. iShares MSCI Australia ETF (EWA)
Market Cap
AU$103.22M
Dividend YieldN/A
Average Volume (3M)12.12K
Price to Earnings (P/E)―
Beta (1Y)0.41
Revenue Growth-28.30%
EPS Growth-114.94%
CountryAU
Employees700
SectorBasic Materials
Sector Strength58
IndustryCoal
Share Statistics
EPS (TTM)-0.03
Shares Outstanding240,052,980
10 Day Avg. Volume11,038
30 Day Avg. Volume12,124
Financial Highlights & Ratios
PEG Ratio-0.43
Price to Book (P/B)0.48
Price to Sales (P/S)4.15
P/FCF Ratio-37.94
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price Target
AU$0.78Price Target Upside90.24% Upside
Rating ConsensusModerate Buy
Number of Analyst Covering1
EPS Forecast (FY)0.05
Revenue Forecast (FY)AU$21.60M
Bathurst Resources Ltd Business Overview & Revenue Model
Company Description
Bathurst Resources Ltd (BRL) is a New Zealand-based coal mining company focused on the development and operation of coal assets. Through its operating mines and development projects, the company supplies coal products used in energy generation and...
How the Company Makes Money
BRL primarily makes money by selling coal produced from its mining operations. Revenue is generated when mined coal is processed (where applicable) and sold under customer supply arrangements, with earnings driven by (i) sales volumes, (ii) realiz...
Bathurst Resources Ltd Earnings Call Summary
Earnings Call Date:Aug 25, 2024
(Q4-2024)
| Next Earnings Date:Sep 01, 2026
Earnings Call Sentiment Neutral
The earnings call revealed a mix of strong financial stability and future growth potential, overshadowed by recent operational challenges and a reduction in EBITDA. While the company maintains a healthy cash position and has future projects lined up, the significant setbacks in export operations and unmet financial guidance highlight areas of concern.Positive Updates
Strong Cash Position
BRL.AX maintains a strong cash position with $141 million in cash and no real debt, which ensures financial stability and potential for future investments.
Negative Updates
Reduction in EBITDA and Export Pricing
Significant reduction in EBITDA for the full year due to reduced export pricing and tonnage, with a 5% decrease from the previous year.
Read all updates
Q4-2024 Updates
Positive
Negative
Strong Cash Position
BRL.AX maintains a strong cash position with $141 million in cash and no real debt, which ensures financial stability and potential for future investments.
Read all positive updates
Company Guidance
In the Q4 2024 earnings call for BRL.AX, Richard Tacon outlined the company's performance and future guidance, emphasizing various financial and operational metrics. The company reported an EBITDA of $90.5 million for the full year, a decline of approximately 5% from the previous year, primarily due to reduced export pricing and operational disruptions, including a tunnel incident at Reefton. Despite these challenges, the company maintains a strong financial position with $141 million in cash and no significant debt. Looking ahead, BRL.AX anticipates an EBITDA range of $55 million to $65 million for FY '25, factoring in continued challenges with the Reefton tunnel and export pricing. Operationally, the company is focusing on expanding its New Zealand mines and exploring growth opportunities in British Columbia, Canada, while maintaining its commitment to environmental and community responsibilities, particularly with First Nations groups.Bathurst Resources Ltd Financial Statement Overview
Summary
Income Statement
45
Neutral
Balance Sheet
65
Positive
Cash Flow
40
Negative
| Breakdown | TTM | Jun 2025 | Jun 2024 | Jun 2023 | Jun 2022 | Jun 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 28.47M | 38.52M | 39.69M | 40.20M | 35.81M | 44.90M |
| Gross Profit | 4.28M | 7.19M | 9.21M | 5.50M | 4.76M | 9.35M |
| EBITDA | -2.23M | 2.29M | 37.45M | -340.05K | -4.08M | 9.45M |
| Net Income | -6.55M | 4.12M | 35.28M | 83.14M | 27.51M | 62.09M |
Balance Sheet | ||||||
| Total Assets | 329.09M | 353.20M | 315.34M | 274.74M | 189.58M | 148.78M |
| Cash, Cash Equivalents and Short-Term Investments | 25.48M | 33.08M | 7.10M | 11.77M | 4.30M | 4.09M |
| Total Debt | 1.14M | 1.35M | 1.76M | 1.18M | 692.64K | 12.19M |
| Total Liabilities | 22.50M | 22.78M | 23.69M | 14.82M | 15.22M | 28.95M |
| Stockholders Equity | 306.60M | 330.42M | 291.64M | 259.84M | 174.88M | 119.84M |
Cash Flow | ||||||
| Free Cash Flow | -5.19M | -4.21M | -8.97M | 8.57M | 4.53M | 4.41M |
| Operating Cash Flow | 3.79M | 4.75M | 4.00M | 12.37M | 7.26M | 8.88M |
| Investing Cash Flow | -14.20M | -10.44M | -15.02M | 6.52M | 4.43M | -5.51M |
| Financing Cash Flow | 31.95M | 31.56M | 594.83K | 387.98K | -2.31M | -3.41M |
Bathurst Resources Ltd Peers Comparison
UnderperformOutperform
Sector (61)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
66 Neutral | AU$6.27B | 9.94 | 11.25% | 1.28% | -13.80% | 268.90% | |
63 Neutral | AU$7.63B | 17.52 | 4.93% | 2.99% | -13.48% | -63.82% | |
61 Neutral | $10.43B | 7.12 | -0.05% | 2.87% | 2.86% | -36.73% | |
59 Neutral | AU$4.51B | 29.01 | 5.87% | 3.72% | -20.55% | -72.75% | |
58 Neutral | AU$2.33B | -33.97 | -2.82% | 4.10% | -19.76% | -125.65% | |
48 Neutral | AU$103.22M | -14.83 | -2.06% | ― | -28.30% | -114.94% | |
44 Neutral | AU$268.23M | -0.28 | -98.22% | ― | -7.35% | -115.78% |
* Basic Materials Sector Average
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Bathurst Resources Ltd Corporate Events
Bathurst wins consent to extend Maramarua mine life by four years
Aug 4, 2026
Bathurst Resources has secured consents to develop the new M2 pit at its Maramarua coal mine in New Zealand’s Waikato region, with coal production expected to begin in the third quarter of FY27 once customer contracts are confirmed. The proj...
Bathurst Resources Hits Top-End FY26 EBITDA and Pushes Ahead With Long-Life Coal Projects
Jul 30, 2026
Bathurst Resources has reported unaudited consolidated EBITDA of $45 million for FY26, hitting the top end of its guidance range despite prolonged weakness in international coal prices. A late-year rebound in the hard coking coal benchmark, recove...
Bathurst Resources Issues Investor Presentation with Strong Disclaimers
Jul 22, 2026
Bathurst Resources has released an investor presentation for the Noosa Mining Investor Conference outlining high-level information on its operations and reporting framework. The document emphasises that the material is a general summary, prepared ...
Bathurst Resources Lapses Over 570,000 Performance Rights After Conditions Unmet
Jul 1, 2026
Bathurst Resources Limited has announced the lapse of 571,421 performance rights on its register, after conditions attached to these conditional securities were not satisfied or became incapable of being met. The cessation of these securities mode...
Bathurst director loses 2026 performance rights after targets missed
Jul 1, 2026
Bathurst Resources has reported a change in director Russell Lee Scott Middleton’s indirect interests, following the cancellation of a tranche of long-term incentive performance rights. Middleton holds his interests through the Middleton Sup...
Bathurst director loses 2026 performance rights after hurdles missed
Jul 1, 2026
Bathurst Resources has reported a change in the security holdings of director Richard John Tacon, reflecting the structure and performance linkage of its long-term incentive arrangements. The disclosure highlights the company’s ongoing use o...
Bathurst Resources Appoints Acting Company Secretary After Sudden Passing
Jun 18, 2026
Bathurst Resources has announced the unexpected passing of its company secretary, Larissa Brown, marking a significant loss for the organisation’s leadership team. In response, Chief Financial Officer Kieran McColl has been appointed acting ...
Bathurst outlines Q3 FY26 update and reporting framework
May 12, 2026
Bathurst Resources has released a Q3 FY26 update presentation that provides a high-level summary of its operations and financial information for the period. The company emphasises that the document is informational only, not a prospectus or offer,...
Bathurst Resources Sets Webcast to Discuss Q3 FY26 Results and Outlook
May 6, 2026
Bathurst Resources has announced that it released its third quarter fiscal 2026 results on 29 April and will host a webcast to update investors on the figures and broader business outlook. The briefing is scheduled for 12 May, and questions from p...
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.