Coda Minerals Ltd (AU:COD)
ASX:COD
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Coda Minerals Ltd
(Sydney:COD)
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Rating:45Neutral
Price Target:
AU$0.12
▼(-23.75% Downside)
Action:ReiteratedDate:03/21/26
The score is primarily constrained by weak financial performance (pre-revenue, ongoing losses and cash burn despite improvement) and bearish technical trends (price below key moving averages with negative MACD). Valuation is only modestly supportive because the negative P/E reflects continued unprofitability and there is no dividend yield data.
Positive Factors
Low Leverage / Strong Balance Sheet Primer
Extremely low debt (~0.01 D/E) materially reduces refinancing and interest-rate risk for a pre-revenue explorer. This conservatively levered balance sheet preserves optionality to fund exploration through equity or earn-ins without near-term solvency pressure, improving strategic flexibility over the next several months.
Negative Factors
Pre-revenue Business Model
Being pre-revenue means intrinsic value hinges on successful exploration and resource development, not operating cash flows. This structural profile requires sustained capital infusions, increases project execution risk, and leaves valuation and shareholder returns contingent on uncertain future discoveries.
Read all positive and negative factors
Positive Factors
Negative Factors
Low Leverage / Strong Balance Sheet Primer
Extremely low debt (~0.01 D/E) materially reduces refinancing and interest-rate risk for a pre-revenue explorer. This conservatively levered balance sheet preserves optionality to fund exploration through equity or earn-ins without near-term solvency pressure, improving strategic flexibility over the next several months.
Read all positive factors
Coda Minerals Ltd (COD) vs. iShares MSCI Australia ETF (EWA)
Market Cap
AU$48.65M
Dividend YieldN/A
Average Volume (3M)687.98K
Price to Earnings (P/E)―
Beta (1Y)1.25
Revenue GrowthN/A
EPS Growth42.65%
CountryAU
EmployeesN/A
SectorBasic Materials
Sector Strength58
IndustryIndustrial Materials
Share Statistics
EPS (TTM)-0.02
Shares Outstanding374,195,340
10 Day Avg. Volume427,130
30 Day Avg. Volume687,979
Financial Highlights & Ratios
PEG Ratio0.11
Price to Book (P/B)0.86
Price to Sales (P/S)0.00
P/FCF Ratio-4.90
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price TargetN/A
Price Target UpsideN/A
Rating ConsensusN/A
Number of Analyst Covering0
EPS Forecast (FY)-0.03
Revenue Forecast (FY)N/A
Coda Minerals Ltd Business Overview & Revenue Model
Company Description
Coda Minerals Limited, an exploration company, focuses on the exploration, discovery, and development of minerals in the base metals, precious metals, and battery minerals sector. The company holds 100% interest in the Elizabeth Creek copper proje...
How the Company Makes Money
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Coda Minerals Ltd Financial Statement Overview
Summary
Income Statement
12
Very Negative
Balance Sheet
72
Positive
Cash Flow
20
Very 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 | 0.00 |
| Gross Profit | -161.23K | -160.78K | -162.87K | -162.46K | -147.53K | -122.13K |
| EBITDA | -7.41M | -4.15M | -4.59M | -7.64M | -14.85M | -6.39M |
| Net Income | -7.45M | -4.29M | -4.57M | -7.76M | -14.21M | -6.52M |
Balance Sheet | ||||||
| Total Assets | 30.43M | 22.93M | 22.24M | 23.55M | 27.60M | 24.20M |
| Cash, Cash Equivalents and Short-Term Investments | 11.25M | 3.96M | 3.43M | 4.72M | 8.18M | 21.79M |
| Total Debt | 163.37K | 213.87K | 123.98K | 7.67K | 98.40K | 190.05K |
| Total Liabilities | 1.60M | 815.41K | 646.20K | 858.91K | 1.72M | 1.22M |
| Stockholders Equity | 28.83M | 22.12M | 21.60M | 22.70M | 25.88M | 22.98M |
Cash Flow | ||||||
| Free Cash Flow | -5.92M | -3.90M | -4.05M | -7.52M | -14.42M | -5.79M |
| Operating Cash Flow | -5.88M | -3.88M | -4.05M | -7.51M | -14.33M | -5.54M |
| Investing Cash Flow | -36.20K | -10.71K | -1.82K | 281.69K | 828.95K | -239.39K |
| Financing Cash Flow | 11.17M | 4.43M | 2.76M | 3.76M | -90.83K | 23.38M |
Coda Minerals Ltd Technical Analysis
Negative
0.16
Price Trends
0.17
Negative
0.15
Negative
0.13
Positive
Market Momentum
-0.01
Positive
41.05
Neutral
27.92
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For AU:COD, the sentiment is Negative. The current price of 0.16 is above the 20-day moving average (MA) of 0.15, below the 50-day MA of 0.17, and above the 200-day MA of 0.13, indicating a neutral trend. The MACD of -0.01 indicates Positive momentum. The RSI at 41.05 is Neutral, neither overbought nor oversold. The STOCH value of 27.92 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for AU:COD.
Coda Minerals 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% | |
52 Neutral | AU$41.49M | 1.06 | -0.34% | ― | ― | -100.38% | |
52 Neutral | AU$87.23M | -4.90 | -10.28% | ― | ― | 11.11% | |
47 Neutral | AU$53.17M | -5.83 | -6.35% | ― | ― | 59.26% | |
45 Neutral | AU$48.65M | -2.13 | -29.24% | ― | ― | 42.65% | |
42 Neutral | AU$26.23M | -1.73 | -31.61% | ― | ― | 60.00% | |
| ― | AU$57.42M | -2.73 | -0.21% | ― | ― | -61.06% |
* Basic Materials Sector Average
AU:COD
Coda Minerals Ltd
0.13
0.05
62.50%
AU:LEG
Legend Mining Limited
0.01
0.00
0.00%
AU:VMC
Venus Metals Corporation Limited
0.21
0.11
100.00%
AU:GBE
Globe Metals & Mining Limited
0.09
0.06
220.69%
AU:WCE
Errawarra Resources Ltd.
0.16
0.09
128.57%
AU:LMG
Latrobe Magnesium Limited
0.02
<0.01
70.00%
Coda Minerals Ltd Corporate Events
Coda Minerals Updates Director Christopher Stevens’ Indirect Shareholdings
Mar 24, 2026
Coda Minerals has reported a change in the indirect interests of director Christopher Stevens, reflecting adjustments in securities held through his spouse, Dr Catriona Fleur Stevens. The update shows the conversion of performance rights into 348,...
Coda Minerals Seeks ASX Quotation for 619,242 New Shares
Mar 24, 2026
Coda Minerals Ltd has applied to the ASX for quotation of 619,242 new ordinary fully paid shares, which were issued on 20 March 2026. The additional securities follow the exercise or conversion of existing options or other convertible instruments,...
Coda Minerals boosts Elizabeth Creek economics on copper and silver price surge
Mar 10, 2026
Coda Minerals has updated the economics of its Elizabeth Creek Copper-Silver Project, re-releasing figures after adjusting the mine schedule to exclude Inferred Resources from the final two years of production and confirming that the project’...
Coda Minerals Seeks ASX Quotation for 1.56 Million New Shares
Mar 6, 2026
Coda Minerals has applied for quotation on the ASX of 1,555,427 new ordinary fully paid shares, following the issue of these securities on 4 March 2026. The additional quoted shares, arising from the exercise or conversion of existing options or o...
Coda Minerals Builds Copper-Cobalt Base at Elizabeth Creek as Scoping Study Economics Improve
Feb 24, 2026
Coda Minerals has concentrated its half-year efforts on advancing exploration and evaluation at the Elizabeth Creek Copper-Cobalt Project in South Australia, while also assessing the Kinloch Copper and Cameron River Copper-Gold projects and potent...
Coda Minerals Accelerates Elizabeth Creek PFS on Back of Strong Capital Raise
Jan 29, 2026
Coda Minerals has used a strongly supported capital raising of about A$12.3 million to fund a major new drilling campaign and accelerate the Pre‑Feasibility Study (PFS) at its Elizabeth Creek copper‑silver project in South Australia. D...
Coda Minerals Applies for Quotation of Additional Ordinary Shares on ASX
Jan 21, 2026
Coda Minerals Ltd has applied to the ASX for quotation of 2,104 new fully paid ordinary shares (code: COD), following the exercise or conversion of existing options or other convertible securities. The small issuance marginally increases the compa...
Cumulus Wealth Ceases to Be Substantial Holder in Coda Minerals
Jan 19, 2026
Cumulus Wealth Pty Ltd has notified Coda Minerals Ltd that it has ceased to be a substantial shareholder in the company as of 15 January 2026, in accordance with Australian Corporations Act disclosure requirements. The change indicates that Cumulu...
Coda Restarts Elizabeth Creek Drilling as Higher Copper and Silver Prices Boost Project Upside
Jan 11, 2026
Coda Minerals has recommenced its three-rig, 6,000–7,000m diamond drilling campaign at the Emmie Bluff deposit within the Elizabeth Creek Copper-Silver Project after a holiday break, with about 70% of the overall program now complete across ...
Coda Minerals Links Share Surge to Rising Copper and Silver Prices in ASX Query Response
Dec 30, 2025
Coda Minerals has responded to an ASX price and volume query following a sharp rise in its share price and trading volumes in late December 2025, stating it is not aware of any undisclosed information that could explain the recent trading activity...
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.