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Cosmo Metals Limited (AU:CMO)
ASX:CMO
Australian Market

Cosmo Metals Limited (CMO) AI Stock Analysis

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AU:CMO

Cosmo Metals Limited

(Sydney:CMO)

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Neutral 43 (OpenAI - 5.2)
Rating:43Neutral
Price Target:
AU$0.01
▼(-50.00% Downside)
Action:UpgradedDate:12/30/25
The score is held down primarily by pre-revenue financials with widening losses and continued cash burn. A strong, low-debt balance sheet provides some stability, but technicals remain weak with the stock trading below key moving averages and a negative MACD; valuation is also constrained by negative earnings and no dividend data.
Positive Factors
Conservative balance sheet and low leverage
Very low debt and conservative financing reduce solvency risk and provide enduring financial flexibility. Over a 2-6 month horizon this strengthens runway for development, lowers default risk, and allows the company to pursue projects or raise capital from a position of stability.
Growing equity base provides funding cushion
An expanding equity base gives the firm a structural buffer to absorb ongoing losses and finance development activities without immediate reliance on high-cost debt. This durable capital cushion supports continued R&D or project execution while management pursues commercialization.
Free cash flow improved versus FY2023
Improvement in free cash flow versus the prior large outflow indicates progress toward better cash management or lower investment intensity. If sustained, this trend reduces future financing needs and increases the likelihood of reaching self-sustaining operations over the medium term.
Negative Factors
Pre-revenue company with no operating sales
Being pre-revenue means the business model lacks validation from customer sales and remains dependent on external financing. Over months this elevates execution risk: delays or cost overruns can materially lengthen the time to positive cash generation and commercialization.
Persistent negative operating and free cash flow
Ongoing negative operating and free cash flows create continuous funding needs and limit reinvestment capacity. Structurally, this increases reliance on equity raises or debt, raises dilution or leverage risk, and reduces resilience to execution setbacks over a 2-6 month horizon.
Widening net losses and negative ROE
Rising net losses and deteriorating returns on equity indicate weakening profitability dynamics and poor capital efficiency. This structural deterioration pressures management to improve margins or seek capital, increasing long-term dilution risk and signaling material work remains to reach profitable operations.

Cosmo Metals Limited (CMO) vs. iShares MSCI Australia ETF (EWA)

Cosmo Metals Limited Business Overview & Revenue Model

Company DescriptionCosmo Metals Limited operates as a mineral exploration company in Australia. The company explores for copper, nickel, cobalt, and platinum group elements. Its flagship project is the Yamarna project that includes the Mt Venn and Eastern Mafic prospects, which comprise seven granted exploration licenses, one granted prospecting license, and two applications for an exploration and a prospecting license with a total area of 370 square kilometers. The company was incorporated in 2021 and is headquartered in West Perth, Australia.
How the Company Makes Moneynull

Cosmo Metals Limited Financial Statement Overview

Summary
Income statement is very weak with no revenue and recurring losses that widened in FY2025, and cash flow shows persistent negative operating and free cash flow (ongoing burn). The main offset is a strong, conservatively financed balance sheet with minimal debt and growing equity, which reduces near-term solvency risk.
Income Statement
8
Very Negative
Across FY2022–FY2025 the company reported no revenue and consistent operating losses, with negative gross profit and deeply negative EBIT/EBITDA each year. Net losses widened materially in FY2025 (net loss of ~3.1m vs ~1.5m in FY2024), indicating higher cost intensity and weaker earnings trajectory. The main positive is that losses are relatively small versus the balance sheet size, but profitability is currently not established.
Balance Sheet
74
Positive
The balance sheet is conservatively financed with minimal leverage (very low debt-to-equity; debt is ~13.6k in FY2025 and was zero in prior years). Equity has grown over time (from ~8.9m in FY2023 to ~11.5m in FY2025), providing a cushion to fund development-stage operations. The key weakness is persistently negative returns on equity, worsening in FY2025, which reflects ongoing losses despite a solid capital base.
Cash Flow
22
Negative
Cash generation remains weak: operating cash flow is negative in every year shown (roughly -0.6m to -0.8m), and free cash flow is consistently negative, with a particularly large outflow in FY2023 (~-3.1m) and still elevated burn in FY2025 (~-2.4m). While free cash flow improved versus FY2023, the business continues to require funding to sustain operations, and cash outflows are not yet supported by revenue.
BreakdownJun 2025Jun 2024Jun 2023Jun 2022
Income Statement
Total Revenue0.000.000.000.00
Gross Profit-19.94K-20.81K-19.66K-2.96K
EBITDA-818.21K-1.45M-666.97K-1.10M
Net Income-3.11M-1.47M-686.63K-1.10M
Balance Sheet
Total Assets12.09M10.80M9.26M9.20M
Cash, Cash Equivalents and Short-Term Investments730.53K1.28M612.45K3.06M
Total Debt13.58K0.000.000.00
Total Liabilities587.56K682.41K347.33K121.86K
Stockholders Equity11.50M10.11M8.91M9.07M
Cash Flow
Free Cash Flow-2.40M-1.56M-3.06M-1.64M
Operating Cash Flow-792.89K-579.78K-601.86K-585.59K
Investing Cash Flow-1.64M-979.18K-2.41M-1.05M
Financing Cash Flow1.88M2.23M564.47K4.69M

Cosmo Metals Limited Technical Analysis

Technical Analysis Sentiment
Negative
Last Price0.02
Price Trends
50DMA
0.01
Negative
100DMA
0.01
Negative
200DMA
0.02
Negative
Market Momentum
MACD
>-0.01
Negative
RSI
27.71
Positive
STOCH
-8.33
Positive
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For AU:CMO, the sentiment is Negative. The current price of 0.02 is above the 20-day moving average (MA) of 0.01, above the 50-day MA of 0.01, and above the 200-day MA of 0.02, indicating a bearish trend. The MACD of >-0.01 indicates Negative momentum. The RSI at 27.71 is Positive, neither overbought nor oversold. The STOCH value of -8.33 is Positive, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for AU:CMO.

Cosmo Metals Limited Peers Comparison

Overall Rating
UnderperformOutperform
Sector (61)
Financial Indicators
Name
Overall Rating
Market Cap
P/E Ratio
ROE
Dividend Yield
Revenue Growth
EPS Growth
61
Neutral
$10.43B7.12-0.05%2.87%2.86%-36.73%
46
Neutral
AU$7.64M-10.40-5.13%20.70%
45
Neutral
AU$19.22M-3.24-104.93%-69.98%
44
Neutral
AU$61.50M-23.63-14.86%-45.08%
43
Neutral
AU$4.71M-0.90-0.03%-17.61%
43
Neutral
AU$6.54M-0.46-67.33%-1.73%
42
Neutral
AU$10.49M-1.84-19.26%71.25%
* Basic Materials Sector Average
Performance Comparison
Ticker
Company Name
Price
Change
% Change
AU:CMO
Cosmo Metals Limited
0.01
>-0.01
-41.18%
AU:MQR
Marquee Resources Ltd
0.01
0.00
0.00%
AU:EV1
Evolution Energy Minerals Limited
0.01
<0.01
8.33%
AU:ENX
Enegex Limited
0.21
0.15
241.67%
AU:CHR
Charger Metals NL
0.09
0.04
70.00%
AU:GRE
Greentech Metals Ltd.
0.07
<0.01
9.38%

Cosmo Metals Limited Corporate Events

Cosmo Metals Issues 12.6 Million Unquoted Options Under Prior Transaction
Mar 16, 2026

Cosmo Metals Limited has notified the market of the issue of 12,616,872 unquoted options, classified as CMOAT and expiring on April 3, 2028. These options, issued on March 16, 2026, form part of a previously announced transaction and are not intended to be quoted on the ASX.

The new options increase Cosmo Metals’ pool of unquoted equity instruments, providing an additional avenue for incentivising stakeholders or structuring prior deals. While there is no immediate listing impact, the expanded option base may affect future dilution and capital management outcomes for existing shareholders.

The most recent analyst rating on (AU:CMO) stock is a Hold with a A$0.01 price target. To see the full list of analyst forecasts on Cosmo Metals Limited stock, see the AU:CMO Stock Forecast page.

Cosmo Metals Seeks ASX Quotation for 50 Million New Shares
Mar 16, 2026

Cosmo Metals Limited has applied for quotation on the ASX of 50,467,422 ordinary fully paid shares under the code CMO, effective March 16, 2026. The shares form part of a previously announced transaction, and the move formalizes their admission to trading, expanding the company’s quoted capital base and potentially improving liquidity for existing and new investors.

The most recent analyst rating on (AU:CMO) stock is a Hold with a A$0.01 price target. To see the full list of analyst forecasts on Cosmo Metals Limited stock, see the AU:CMO Stock Forecast page.

Cosmo Metals Raises $1.55m to Accelerate Drilling at Kanowna and Bingara
Mar 11, 2026

Cosmo Metals has completed a fully underwritten $1.55 million non-renounceable entitlement offer, issuing five new shares for every fourteen held at $0.010, with free attaching options, to fund near-term drilling. The offer was strongly supported by major shareholders, directors and high net worth investors, though about two-thirds of the issue will be placed with sub-underwriters due to under subscription.

Proceeds will back a high-impact drilling campaign at the Kanowna Gold Project, including a 400m diamond hole co-funded by Western Australia’s Exploration Incentive Scheme, aiming to test a significant gold discovery opportunity near Kalgoorlie. Funds will also advance modern exploration and upcoming drilling at the Bingara gold-antimony and copper project in northern NSW, potentially reshaping Cosmo’s growth pipeline if results confirm the projects’ prospectivity.

The most recent analyst rating on (AU:CMO) stock is a Hold with a A$0.01 price target. To see the full list of analyst forecasts on Cosmo Metals Limited stock, see the AU:CMO Stock Forecast page.

Cosmo Metals Calls March General Meeting, Moves to Digital Notice Distribution
Feb 27, 2026

Cosmo Metals Limited has called a General Meeting of shareholders to be held on 31 March 2026 at Consilium Corporate’s offices in Perth, Western Australia, and will provide the Notice of Meeting exclusively online in line with Corporations Act provisions. Shareholders are being urged to participate by lodging proxy forms with the company’s share registry by 29 March 2026 if they cannot attend in person, underscoring the importance of the meeting’s resolutions for corporate governance and shareholder engagement.

The company is also directing investors to seek professional advice if unsure about how to vote or interpret the meeting materials, highlighting its focus on regulatory compliance and informed decision-making. This approach reflects an ongoing shift among ASX-listed companies toward digital distribution of meeting documentation and more flexible participation mechanisms for shareholders.

The most recent analyst rating on (AU:CMO) stock is a Hold with a A$0.01 price target. To see the full list of analyst forecasts on Cosmo Metals Limited stock, see the AU:CMO Stock Forecast page.

Cosmo Metals Calls March 2026 Meeting to Approve Large Option Issues
Feb 27, 2026

Cosmo Metals Limited has called a general meeting of shareholders for 31 March 2026 in Perth to vote on key capital-related resolutions. Shareholders are urged to lodge proxies by 29 March 2026, with all resolutions to be decided by poll in line with ASX guidelines.

The company is seeking shareholder approval to issue 10 million options to its joint lead managers and up to 77.54 million options to sub-underwriters. These option issues, made under ASX Listing Rule 7.1, are designed to compensate and incentivise parties supporting the company’s capital-raising activities, potentially affecting capital structure and ownership dilution.

The most recent analyst rating on (AU:CMO) stock is a Hold with a A$0.01 price target. To see the full list of analyst forecasts on Cosmo Metals Limited stock, see the AU:CMO Stock Forecast page.

Cosmo Metals Releases Interim Financial Report for December 2025 Half-Year
Feb 27, 2026

Cosmo Metals Limited has released its interim consolidated financial report for the half-year ended 31 December 2025, providing investors with updated profit and loss, balance sheet, cash flow and equity information. The report, which includes directors’ and auditor’s declarations and a review, offers a snapshot of the company’s financial health and governance practices at the midpoint of its financial year.

This interim disclosure helps stakeholders assess Cosmo Metals’ operational progress, capital position and risk profile ahead of its full-year results. By detailing performance and compliance in a formal reviewed statement, the company reinforces transparency and supports ongoing evaluation of its strategy and prospects in the metals exploration sector.

The most recent analyst rating on (AU:CMO) stock is a Hold with a A$0.01 price target. To see the full list of analyst forecasts on Cosmo Metals Limited stock, see the AU:CMO Stock Forecast page.

Cosmo Metals Director Increases Equity Stake Through Performance Rights Conversion
Feb 20, 2026

Cosmo Metals has disclosed a change in director Ian Prentice’s indirect holdings following the vesting of incentive securities. Prentice converted 1 million performance rights into fully paid ordinary shares, increasing his shareholding to 4,942,255 shares while his performance rights decreased to 10 million.

The transaction, carried out via conversion of performance rights rather than an on-market trade, leaves his unlisted option holdings unchanged. The move marginally increases director equity exposure and signals continued alignment of management interests with ordinary shareholders without new cash consideration or dilution beyond previously issued rights.

The most recent analyst rating on (AU:CMO) stock is a Hold with a A$0.01 price target. To see the full list of analyst forecasts on Cosmo Metals Limited stock, see the AU:CMO Stock Forecast page.

Cosmo Metals Plans Large Issue of 2028 Options
Feb 5, 2026

Cosmo Metals Limited has lodged an Appendix 3B with the ASX outlining a proposed placement or other issue of options, to be traded under code CMOAN and expiring 3 April 2028 with an exercise price of $0.015. The company plans to issue up to 87,544,061 of these options, with a proposed issue date of 31 March 2026, signalling a sizeable potential expansion of its capital structure that may provide additional funding flexibility and exposure for investors through leveraged participation in any future share price appreciation.

The most recent analyst rating on (AU:CMO) stock is a Hold with a A$0.01 price target. To see the full list of analyst forecasts on Cosmo Metals Limited stock, see the AU:CMO Stock Forecast page.

Cosmo Metals Plans Major Pro Rata Equity and Options Issue
Feb 5, 2026

Cosmo Metals Limited has announced a non-renounceable pro rata issue to its existing shareholders, proposing to issue up to 155,088,121 new fully paid ordinary shares and 38,772,030 options exercisable at $0.015 and expiring on 3 April 2028. The capital raising, structured as a standard pro rata entitlement offer with key dates set in February and March 2026, is intended to expand the company’s equity base and could provide additional funding flexibility, potentially supporting future operational activities and strengthening its position on the ASX for current and prospective investors.

The most recent analyst rating on (AU:CMO) stock is a Hold with a A$0.01 price target. To see the full list of analyst forecasts on Cosmo Metals Limited stock, see the AU:CMO Stock Forecast page.

Cosmo Metals Raises $1.55m to Accelerate Gold and Copper Drilling
Feb 5, 2026

Cosmo Metals has launched a fully underwritten non-renounceable entitlement offer to raise approximately $1.55 million by issuing about 155.1 million new shares at $0.010 each, alongside free attaching options, to eligible shareholders. The capital injection, supported by major shareholder Great Boulder Resources and company directors, will fund near-term drilling at the high-priority Kanowna Gold Project and the Bingara and Nundle gold-antimony and copper projects, as well as exploration at Yamarna and general corporate needs, positioning the company to accelerate exploration in key Australian mineral districts and potentially enhance its resource base and growth prospects.

The most recent analyst rating on (AU:CMO) stock is a Hold with a A$0.01 price target. To see the full list of analyst forecasts on Cosmo Metals Limited stock, see the AU:CMO Stock Forecast page.

Cosmo Metals Requests Trading Halt Ahead of Capital Raising Announcement
Feb 4, 2026

Cosmo Metals Limited has requested and been granted a trading halt on its securities on the ASX while it prepares an announcement regarding a proposed capital raising. The halt will remain in place until either the announcement is released or normal trading commences on 9 February 2026, and the company has indicated it is not aware of any reasons the halt should not be granted or of any additional information required to inform the market.

The most recent analyst rating on (AU:CMO) stock is a Hold with a A$0.01 price target. To see the full list of analyst forecasts on Cosmo Metals Limited stock, see the AU:CMO Stock Forecast page.

Cosmo Metals Advances NSW Gold-Antimony Exploration and Secures Grants for Key Drill Programs
Jan 30, 2026

Cosmo Metals’ December quarter was marked by the completion of its maiden reverse circulation drilling campaign at the Spring Creek gold prospect within the Star of Bingara to Lone Hand trend, the first drilling in the Bingara area in roughly three decades, yielding encouraging gold intercepts including 6m at 9.99g/t Au from shallow depth. The company also advanced target generation across its NSW portfolio by interpreting LiDAR data to define the 8km Antimony Gully trend with high-grade antimony rock chip results, completing a government-backed geochemical program over the Mt Everest–Mona trend, and planning systematic mapping and sampling to refine drill targets, while securing separate WA government co-funding to drill a deep diamond hole at its Kanowna gold project, underscoring growing institutional support for its exploration strategy in both critical minerals and gold.

The most recent analyst rating on (AU:CMO) stock is a Hold with a A$0.01 price target. To see the full list of analyst forecasts on Cosmo Metals Limited stock, see the AU:CMO Stock Forecast page.

Cosmo Metals Outlines High-Priority VMS Targets at Bingara’s Mt Everest–Mona Corridor
Jan 27, 2026

Cosmo Metals has defined two high-priority, previously untested VMS targets—the ~500m Victory Lode and a potential feeder/stockwork zone east of Mt Everest—within a +4km Mt Everest–Mona corridor at its Bingara Project in NSW, following a systematic pXRF geochemistry program that identified strong copper, zinc and arsenic soil anomalies supported by high-grade historical rock chip results. The program, co-funded by a NSW Government grant under the Critical Minerals & High-Tech Exploration Program, sets up ground truthing in early February 2026 and follow-up ground geophysics to refine the first drilling campaign along the 20km-long Bingara VMS belt, potentially transforming an area of largely untested historic copper workings into a modern discovery opportunity for Cosmo and its stakeholders.

The most recent analyst rating on (AU:CMO) stock is a Hold with a A$0.01 price target. To see the full list of analyst forecasts on Cosmo Metals Limited stock, see the AU:CMO Stock Forecast page.

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.Date of analysis: Dec 30, 2025