Carnaby Resources Ltd. (AU:CNB)
ASX:CNB
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Carnaby Resources Ltd.
(Sydney:CNB)
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Rating:55Neutral
Price Target:
AU$0.47
▲(2.61% Upside)
Action:ReiteratedDate:04/25/26
The score is held back primarily by weak financial performance (no revenue, ongoing losses and cash burn), partially offset by a strong, low-leverage balance sheet. Technicals are supportive with price trading above key moving averages and positive MACD, but valuation remains challenged due to negative earnings and no dividend support.
Positive Factors
Low leverage, strong equity base
Extremely low leverage and a materially larger equity base provide durable financial flexibility for exploration cycles. With minimal interest burden the company can fund near-term programs, negotiate partnerships from a position of strength and withstand commodity-cycle timing over months.
Negative Factors
No revenue, recurring net losses
Absent any revenue base, the company relies entirely on exploration value creation rather than operating cash flow. Persistent net losses mean value depends on future discovery or asset transactions, a structural risk that remains until commercial revenues or monetizable resources emerge.
Read all positive and negative factors
Positive Factors
Negative Factors
Low leverage, strong equity base
Extremely low leverage and a materially larger equity base provide durable financial flexibility for exploration cycles. With minimal interest burden the company can fund near-term programs, negotiate partnerships from a position of strength and withstand commodity-cycle timing over months.
Read all positive factors
Carnaby Resources Ltd. (CNB) vs. iShares MSCI Australia ETF (EWA)
Market Cap
AU$127.02M
Dividend YieldN/A
Average Volume (3M)1.62M
Price to Earnings (P/E)―
Beta (1Y)1.89
Revenue GrowthN/A
EPS Growth27.40%
CountryAU
Employees2
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$0.83Price Target Upside79.35% 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
0.46
Price Trends
0.45
Positive
0.46
Positive
0.42
Positive
Market Momentum
<0.01
Negative
52.46
Neutral
67.94
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 0.46 is above the 20-day moving average (MA) of 0.43, above the 50-day MA of 0.45, and above the 200-day MA of 0.42, indicating a bullish trend. The MACD of <0.01 indicates Negative momentum. The RSI at 52.46 is Neutral, neither overbought nor oversold. The STOCH value of 67.94 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% | |
55 Neutral | AU$127.02M | -6.08 | -17.75% | ― | ― | 27.40% | |
| ― | AU$71.28M | -7.04 | -41.06% | ― | ― | -107.69% | |
47 Neutral | AU$83.51M | -3.23 | -52.73% | ― | ― | -2.45% | |
46 Neutral | AU$326.34M | -10.61 | -22.04% | ― | ― | -106.06% | |
42 Neutral | AU$38.72M | -14.39 | -14.46% | ― | ― | -67.35% |
* Basic Materials Sector Average
AU:CNB
Carnaby Resources Ltd.
0.48
0.20
71.43%
AU:LRM
Peak Minerals
0.02
<0.01
72.73%
AU:PTR
Petratherm Ltd
0.10
-0.16
-61.92%
AU:MM8
Medallion Metals Ltd
0.42
0.19
88.64%
AU:OSM
Osmond Resources Limited
0.58
0.18
45.00%
Carnaby Resources Ltd. Corporate Events
Carnaby Advances Greater Duchess Project with Robust PFS and Strong Drill Results
Apr 28, 2026
Carnaby Resources reported strong progress at its Greater Duchess Copper Gold Project, highlighted by a pre-feasibility study outlining a 12-year mine life targeting 9.3 million tonnes at 1.9% copper equivalent and total recovered metal of about 1...
Carnaby Resources Issues 300,000 Unquoted Options Under Employee Incentive Scheme
Apr 22, 2026
Carnaby Resources has notified the market of the issuance of 300,000 unquoted options under its employee incentive scheme. The options, which have various exercise prices and expiry dates, will not be quoted on the ASX, indicating the company is c...
Carnaby launches new drilling push at Greater Duchess copper-gold project
Apr 20, 2026
Carnaby Resources has begun a 3,000-metre reverse circulation drilling campaign at its Greater Duchess Project in Queensland, targeting extensions of recent high-grade copper-gold discoveries at the Trekelano area. The program will test Trek 2, Tr...
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...
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.