Cobalt Blue Holdings (COB) AI Stock Analysis

• Market Cap: AU$39.70M
• Dividend Yield: N/A
• Average Volume (3M): 2.34M
• Price to Earnings (P/E): ―
• Beta (1Y): 1.26
• Revenue Growth: N/A
• EPS Growth: 85.44%
• Country: AU
• Employees: N/A
• Sector: Basic Materials
• Sector Strength: 58
• Industry: Industrial Materials
• EPS (TTM): -0.01
• Shares Outstanding: 583,893,400
• 10 Day Avg. Volume: 3,315,696
• 30 Day Avg. Volume: 2,338,328
• PEG Ratio: 0.04
• Price to Book (P/B): 0.75
• Price to Sales (P/S): 0.00
• P/FCF Ratio: -3.19
• Enterprise Value/Market Cap: N/A
• Enterprise Value/Revenue: N/A
• Enterprise Value/Gross Profit: N/A
• Enterprise Value/Ebitda: N/A
• 1Y Price Target: N/A
• Price Target Upside: N/A
• Rating Consensus: N/A
• Number of Analyst Covering: 0
• EPS Forecast (FY): N/A
• Revenue Forecast (FY): N/A

• Rating: 44 Neutral
• Price Target: AU$0.07 ▼(-40.00% Downside)
• Action: Reiterated Date: 01/04/26
• Date: Action: Reiterated 01/04/26

The score is held down primarily by weak financial performance (persistent losses, zero revenue in the latest year, and ongoing cash burn), with only partial support from a low-leverage balance sheet. Technicals also lean bearish/soft (negative MACD and price below key moving averages), while valuation is constrained by loss-making earnings and no provided dividend yield.

Positive Factors

Battery-critical asset focus

Cobalt Blue's core project targets cobalt and nickel for battery supply chains, aligning the company with durable structural demand from EVs and grid storage. A focused upstream asset positions the firm to capture long-term commodity demand if it advances to production and secures offtake or partners.

Low leverage balance sheet

Modest debt levels reduce refinancing and interest risks during project development. A low leverage profile preserves capacity to raise project finance, equity or strategic partnerships, giving the company structural financial flexibility to fund development stages without heavy immediate debt strain.

Improving free cash flow trend

A material reduction in free cash flow burn indicates management is beginning to rein in cash outflows or progress project milestones that lower spending. Sustained improvement in cash burn improves runway and reduces the frequency or size of future capital raises if the trend continues.

Negative Factors

Zero revenue and persistent losses

The company reported no revenue in the latest year and has recurring net losses, which means it cannot self-fund development or demonstrate commercial operations. Over a multi-month horizon this raises execution and financing risk, increasing reliance on external capital or partners.

Consistent negative operating cash flow

Persistent negative operating cash flow signals ongoing cash burn from operations and project development. This structural outflow pressures liquidity and likely necessitates continued external funding, which can dilute shareholders or increase leverage if capital markets tighten.

Eroding equity and negative returns

Declining shareholder equity and negative returns on equity reflect value erosion from sustained losses. Over time this undermines the company's capital base, makes future fundraising harder or more expensive, and signals that invested capital is not generating acceptable long-term returns.

Cobalt Blue Holdings Business Overview & Revenue Model

Company Description

Cobalt Blue Holdings (COB) is an Australian-based exploration and project development company primarily focused on the production and supply of cobalt. The company operates within the mining and resources sector and is engaged in the development of its flagship project, the Broken Hill Cobalt Project, located in New South Wales, Australia. COB aims to provide sustainable and ethically sourced cobalt, which is a critical component in the production of rechargeable batteries for electric vehicles and energy storage systems.

How the Company Makes Money

null

Cobalt Blue Holdings Financial Statement Overview

Summary

Overall fundamentals are weak: the income statement shows persistent losses and revenue fell to zero in the latest year, while cash flow remains consistently negative (ongoing operating and free cash flow burn). The balance sheet is a relative strength with low leverage and a meaningful equity base, but equity has declined and negative returns reflect continued value erosion.

Income Statement

The income statement is weak, with persistent losses across the period and highly volatile results. Revenue is very small and fell to zero in 2025 (annual), following a sharp decline from 2023 levels, which limits visibility on scale-up. Profitability remains deeply negative (negative EBIT/EBITDA and net income every year), including a particularly large loss in 2024, indicating a cost base that is not yet supported by operating revenue.

Balance Sheet

The balance sheet is a relative strength. Leverage is low, with debt-to-equity consistently modest (roughly 0.05–0.17), and equity remains sizeable across the years, providing financial flexibility. The key weakness is ongoing negative returns on equity driven by recurring net losses, and equity has also declined meaningfully from 2023 to 2025, which suggests continued value erosion if losses persist.

Cash Flow

Cash flow quality is pressured by consistently negative operating cash flow and negative free cash flow in every year provided. While free cash flow burn improved substantially in 2025 versus 2024 (less negative), it remains meaningfully negative overall and has been volatile (notably weaker in 2022–2023). Free cash flow is generally more negative than accounting earnings (free cash flow to net income well above 1 in most years), indicating material cash outflows beyond reported losses.

Breakdown	TTM	Jun 2025	Jun 2024	Jun 2023	Jun 2022	Jun 2021
Income Statement
Total Revenue	0.00	0.00	75.00K	233.00K	0.00	50.00K
Gross Profit	-211.00K	-187.00K	75.00K	73.00K	-228.00K	116.00K
EBITDA	-4.64M	-5.85M	-37.42M	-5.26M	-4.99M	-2.42M
Net Income	-8.42M	-6.10M	-37.59M	-5.47M	-5.23M	-2.68M
Balance Sheet
Total Assets	39.27M	33.57M	40.96M	76.42M	50.43M	36.99M
Cash, Cash Equivalents and Short-Term Investments	6.72M	1.22M	8.74M	15.62M	10.53M	9.44M
Total Debt	542.00K	2.27M	3.09M	3.14M	2.93M	2.21M
Total Liabilities	1.93M	3.69M	6.76M	10.43M	6.33M	4.36M
Stockholders Equity	37.34M	29.88M	34.20M	65.99M	44.10M	32.63M
Cash Flow
Free Cash Flow	-4.89M	-7.03M	-15.73M	-28.77M	-13.15M	-8.50M
Operating Cash Flow	-4.88M	-7.03M	-5.67M	-3.62M	-3.47M	-2.11M
Investing Cash Flow	-10.00K	531.00K	-5.71M	-16.62M	-9.26M	-5.31M
Financing Cash Flow	6.22M	-1.02M	4.50M	25.33M	13.82M	14.80M

Cobalt Blue Holdings Technical Analysis

• Technical Analysis Sentiment: Negative
• Last Price: 0.11
• 50DMA: Negative
• 100DMA: Negative
• 200DMA: Negative
• MACD: Positive
• RSI: Neutral
• STOCH: Neutral

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For AU:COB, the sentiment is Negative. The current price of 0.11 is above the 20-day moving average (MA) of 0.07, above the 50-day MA of 0.08, and above the 200-day MA of 0.08, indicating a bearish trend. The MACD of >-0.01 indicates Positive momentum. The RSI at 42.04 is Neutral, neither overbought nor oversold. The STOCH value of 20.51 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for AU:COB.

Cobalt Blue Holdings Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
Sector *	61 Neutral	$10.43B	7.12	-0.05%	2.87%	2.86%	-36.73%
LMG	47 Neutral	AU$56.30M	-5.83	-6.35%	―	―	59.26%
COB	44 Neutral	AU$39.70M	-1.48	-25.04%	―	―	85.44%
LGM	44 Neutral	AU$30.02M	-10.66	-13.50%	―	―	-241.18%
GCM	43 Neutral	AU$33.32M	-2.50	-26.62%	―	―	-18.18%
ARD	42 Neutral	AU$42.53M	-13.00	-71.61%	―	―	-26.67%
WAK	40 Underperform	AU$17.45M	-1.51	-104.39%	―	90.14%	52.54%

Cobalt Blue Holdings Corporate Events

Cobalt Blue Releases Half-Year Financial Report for December 2025

Cobalt Blue Holdings has released its half-year financial report for the period ended 31 December 2025, outlining its financial performance, balance sheet position and cash flow movements for the six-month period. The report provides investors with updated visibility on the company’s capital structure and funding runway as it advances its cobalt projects, offering a basis for assessing the firm’s operational progress and financial resilience in a volatile commodity-price environment.

The most recent analyst rating on (AU:COB) stock is a Sell with a A$0.07 price target. To see the full list of analyst forecasts on Cobalt Blue Holdings stock, see the AU:COB Stock Forecast page.

Cobalt Blue Wins Shareholder Backing for Capital Raising and Option Issues

Cobalt Blue Holdings Limited has confirmed that all resolutions put to shareholders at its 6 February 2026 extraordinary general meeting were approved by poll, including the ratification of previously issued placement shares and Lind subscription shares, as well as approvals to issue placement options and joint lead manager options. The strong majorities in favour across all items clear the way for the company to validate recent capital raisings and proceed with issuing additional equity-linked securities, underpinning its funding arrangements and providing flexibility to support ongoing project and corporate development, with implications for existing shareholders through potential dilution but improved balance-sheet capacity.

The most recent analyst rating on (AU:COB) stock is a Sell with a A$0.08 price target. To see the full list of analyst forecasts on Cobalt Blue Holdings stock, see the AU:COB Stock Forecast page.

Cobalt Blue Lifts Kwinana Cobalt Refinery Economics and Secures Funding Platform

Cobalt Blue Holdings reported a strong December 2025 quarter, highlighting a major uplift in projected financial returns for its Kwinana Cobalt Refinery after re-evaluating project parameters in response to shifting global cobalt markets. By narrowing feedstock assumptions to cobalt hydroxide only and modifying its product mix to include 1,000 tonnes per annum of cobalt alloy-grade metal alongside 2,000 tonnes of cobalt sulphate, the company increased the project’s estimated post-tax NPV from A$90 million to A$155 million, IRR from 23% to 32%, and total free cash flow from A$367 million to A$503 million for the Stage 1 base case. Cobalt Blue is progressing toward a final investment decision on Kwinana with partner Iwatani Australia, has applied for strategic project status under the EU Critical Raw Materials Act to broaden financing options, and has strengthened its funding base with an oversubscribed A$5.3 million capital raise, while complementary work at the Broken Hill Technology Centre on battery black mass positions the refinery to benefit from long-term sustainability and recycling trends.

The most recent analyst rating on (AU:COB) stock is a Sell with a A$0.08 price target. To see the full list of analyst forecasts on Cobalt Blue Holdings stock, see the AU:COB Stock Forecast page.

Cobalt Blue CEO to Present Growth Strategy at Emerging Growth Conference

Cobalt Blue Holdings announced that its CEO, Dr Andrew Tong, will deliver a real-time, interactive corporate presentation at the Emerging Growth Conference on 22 January 2026, outlining the company’s corporate strategy and recent updates. By participating in this high-visibility investor forum, which attracts a broad audience of individual and institutional investors as well as advisors and analysts, Cobalt Blue aims to strengthen engagement with the investment community and highlight its growth potential and strategic direction within the minerals processing and critical materials space.

The most recent analyst rating on (AU:COB) stock is a Sell with a A$0.08 price target. To see the full list of analyst forecasts on Cobalt Blue Holdings stock, see the AU:COB Stock Forecast page.

Cobalt Blue Issues 3.57 Million Shares to Lind Global Fund III LP Under Placement Agreement

Cobalt Blue Holdings has issued 3,571,429 fully paid ordinary shares to Lind Global Fund III LP under an existing placement agreement, linked to a previously announced A$1 million institutional placement. The shares were issued under the company’s available capacity in ASX Listing Rule 7.1 without a prospectus, accompanied by a cleansing notice confirming compliance with Australian corporate reporting and continuous disclosure obligations, thereby facilitating secondary trading and reinforcing the company’s access to institutional capital.

The most recent analyst rating on (AU:COB) stock is a Sell with a A$0.08 price target. To see the full list of analyst forecasts on Cobalt Blue Holdings stock, see the AU:COB Stock Forecast page.

Cobalt Blue Seeks ASX Quotation for 3.57 Million New Shares

Cobalt Blue Holdings has applied to the ASX for quotation of 3,571,429 new fully paid ordinary shares, expanding its total pool of listed securities. The new shares, issued on 15 January 2026 under a previously announced transaction, modestly increase the company’s equity base and free float, with potential implications for liquidity and existing shareholder dilution depending on the broader capital management strategy.

The most recent analyst rating on (AU:COB) stock is a Sell with a A$0.08 price target. To see the full list of analyst forecasts on Cobalt Blue Holdings stock, see the AU:COB Stock Forecast page.

Cobalt Blue Calls Extraordinary General Meeting for February 2026

Cobalt Blue Holdings Limited has called an Extraordinary General Meeting (EGM) of shareholders to be held at its North Sydney offices at 10:00 a.m. Sydney time on Friday, 6 February 2026. The notice outlines procedural details, including voting rights, proxy lodgement, and resolutions to be considered, signalling an upcoming round of shareholder decision-making that may influence the company’s corporate governance and strategic direction.

The most recent analyst rating on (AU:COB) stock is a Hold with a A$0.08 price target. To see the full list of analyst forecasts on Cobalt Blue Holdings stock, see the AU:COB Stock Forecast page.