Carnaby Resources Ltd. (AU:CNB)
ASX:CNB
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Carnaby Resources Ltd.
(Sydney:CNB)
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Rating:44Neutral
Price Target:
AU$0.43
▲(1.67% Upside)
Action:ReiteratedDate:03/26/26
The score is held down primarily by weak operating performance—no revenue, ongoing losses, and continued cash burn—despite a strong, low-debt balance sheet. Technical signals are neutral-to-weak with negative MACD and price below key mid-term averages, and valuation remains challenged due to negative earnings and no dividend support.
Positive Factors
Very low leverage and growing equity
A very low debt-to-equity ratio and materially higher equity provide durable financial flexibility for an exploration company. This reduces bankruptcy risk, supports multi-stage drilling programs or JV negotiations, and lengthens runway versus peers reliant on debt financing.
Negative Factors
No revenue base
Absence of operating revenue means the company lacks a self-sustaining business line and must rely on external capital. Over the medium term this raises execution risk: continued exploration requires financing, and delays in monetization can dilute shareholders or stall projects.
Read all positive and negative factors
Positive Factors
Negative Factors
Very low leverage and growing equity
A very low debt-to-equity ratio and materially higher equity provide durable financial flexibility for an exploration company. This reduces bankruptcy risk, supports multi-stage drilling programs or JV negotiations, and lengthens runway versus peers reliant on debt financing.
Read all positive factors
Carnaby Resources Ltd. (CNB) vs. iShares MSCI Australia ETF (EWA)
Market Cap
AU$117.35M
Dividend YieldN/A
Average Volume (3M)1.62M
Price to Earnings (P/E)―
Beta (1Y)1.82
Revenue GrowthN/A
EPS Growth54.41%
CountryAU
EmployeesN/A
SectorBasic Materials
Sector Strength58
IndustryOther Precious Metals
Share Statistics
EPS (TTM)-0.02
Shares Outstanding276,119,870
10 Day Avg. Volume1,632,606
30 Day Avg. Volume1,622,823
Financial Highlights & Ratios
PEG Ratio0.21
Price to Book (P/B)2.14
Price to Sales (P/S)0.00
P/FCF Ratio-6.70
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price Target
AU$0.80Price Target Upside90.48% Upside
Rating ConsensusModerate Buy
Number of Analyst Covering2
EPS Forecast (FY)-0.04
Revenue Forecast (FY)N/A
Carnaby Resources Ltd. Business Overview & Revenue Model
Company Description
Carnaby Resources Limited engages in the exploration and development of mineral properties in Australia. The company explores for gold and copper deposits. It holds interests in the Pilbara Gold projects covering an area of approximately 442 squar...
How the Company Makes Money
null...
Carnaby Resources Ltd. Financial Statement Overview
Summary
Income Statement
18
Very Negative
Balance Sheet
72
Positive
Cash Flow
24
Negative
| Breakdown | TTM | Jun 2025 | Jun 2024 | Jun 2023 | Jun 2022 | Jun 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 4.38M |
| Gross Profit | 0.00 | -98.75K | -100.66K | -93.87K | -51.19K | 4.38K |
| EBITDA | -7.68M | -7.29M | -11.98M | -12.13M | -8.16M | 413.19K |
| Net Income | -7.58M | -7.39M | -12.09M | -12.23M | -8.22M | 371.38K |
Balance Sheet | ||||||
| Total Assets | 52.60M | 46.33M | 29.85M | 35.01M | 26.53M | 11.85M |
| Cash, Cash Equivalents and Short-Term Investments | 14.62M | 15.77M | 10.31M | 26.94M | 17.95M | 6.68M |
| Total Debt | 96.50K | 18.70K | 65.60K | 18.71K | 63.84K | 9.10K |
| Total Liabilities | 3.49M | 10.04M | 3.07M | 3.40M | 3.00M | 1.25M |
| Stockholders Equity | 49.12M | 36.29M | 26.78M | 31.61M | 23.53M | 10.60M |
Cash Flow | ||||||
| Free Cash Flow | -15.06M | -11.59M | -16.46M | -11.46M | -9.30M | 613.45K |
| Operating Cash Flow | -6.56M | -7.68M | -12.05M | -11.27M | -8.16M | 677.68K |
| Investing Cash Flow | -7.25M | -7.71M | -3.51M | 990.50K | -370.12K | -39.42K |
| Financing Cash Flow | 16.71M | 17.05M | -172.54K | 19.68M | 19.80M | 4.95M |
Carnaby Resources Ltd. Technical Analysis
Positive
0.42
Price Trends
0.46
Negative
0.45
Negative
0.42
Positive
Market Momentum
-0.01
Negative
48.20
Neutral
77.58
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For AU:CNB, the sentiment is Positive. The current price of 0.42 is above the 20-day moving average (MA) of 0.42, below the 50-day MA of 0.46, and above the 200-day MA of 0.42, indicating a neutral trend. The MACD of -0.01 indicates Negative momentum. The RSI at 48.20 is Neutral, neither overbought nor oversold. The STOCH value of 77.58 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for AU:CNB.
Carnaby Resources 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% | |
44 Neutral | AU$117.35M | -6.08 | -23.45% | ― | ― | 54.41% | |
| ― | AU$71.28M | -7.41 | -41.06% | ― | ― | -214.29% | |
44 Neutral | AU$314.40M | -10.61 | -34.16% | ― | -100.00% | -52.08% | |
43 Neutral | AU$75.92M | -3.23 | -52.73% | ― | ― | -643.11% | |
42 Neutral | AU$39.51M | -14.39 | -14.46% | ― | ― | -19.57% |
* Basic Materials Sector Average
AU:CNB
Carnaby Resources Ltd.
0.43
0.19
77.08%
AU:LRM
Peak Minerals
0.02
0.01
100.00%
AU:PTR
Petratherm Ltd
0.10
-0.12
-54.55%
AU:MM8
Medallion Metals Ltd
0.40
0.18
79.55%
AU:OSM
Osmond Resources Limited
0.55
0.20
57.14%
Carnaby Resources Ltd. Corporate Events
Carnaby Reaffirms Greater Duchess Copper-Gold Reserves and Assumptions
Mar 25, 2026
Carnaby Resources has reiterated the status of its Ore Reserve and updated 2026 Mineral Resource estimates for the Greater Duchess Copper Gold Project, confirming there is no new information that materially changes previous disclosures. The compan...
Carnaby hits high‑grade copper‑gold at Trek 1 extension
Mar 24, 2026
Carnaby Resources has reported new high‑grade copper‑gold drill results from the Trek 1 prospect within its Greater Duchess Copper Gold Project in Queensland, highlighting a steeply plunging breccia shoot below the existing open‑...
Carnaby Reaffirms Greater Duchess Copper-Gold Reserves and Resource Assumptions
Mar 18, 2026
Carnaby Resources has reaffirmed its previously reported Ore Reserve estimate and updated 2026 Mineral Resource estimate for the Greater Duchess Copper Gold Project, stating there is no new information that materially changes those figures or the ...
Carnaby Resources Files Interim Financial Report for Half Year to 31 December 2025
Mar 5, 2026
Carnaby Resources Ltd. has released its interim financial report for the half year ended 31 December 2025, outlining its corporate directory, directors’ report, and a series of consolidated interim financial statements and related notes. The...
Carnaby strikes biggest high-grade intercept yet at Trek 2 copper-gold prospect
Mar 2, 2026
Carnaby Resources has reported a standout drill intercept from the Trek 2 prospect at its Greater Duchess Copper Gold Project, including 18 metres at 5.0% copper equivalent within a broader 35-metre zone at 2.9% copper equivalent from 105 metres d...
Carnaby Lifts Greater Duchess Copper-Gold Resource, Consolidates Ownership and Bolsters Cash
Jan 29, 2026
Carnaby Resources reported a 10% increase in the Mineral Resource Estimate at its Greater Duchess Copper Gold Project to 29.2Mt at 1.5% CuEq for 440,500 tonnes of contained copper equivalent, with Indicated resources rising 49% and now comprising ...
Carnaby Lifts Greater Duchess Copper-Gold Resources and Nears Development Milestones
Jan 26, 2026
Carnaby Resources has delivered an updated JORC 2012 Mineral Resource Estimate for its Greater Duchess Copper Gold Project, lifting total resources to 29.2Mt at 1.5% copper equivalent for 440,500 tonnes of contained copper equivalent. The update i...
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.