Comet Ridge Ltd (AU:COI)
ASX:COI
Want to see AU:COI full AI Analyst Report?
Top Page
Comet Ridge Ltd
(Sydney:COI)
Select Model
Select Model
Rating:52Neutral
Price Target:
AU$0.18
▲(18.00% Upside)
Action:ReiteratedDate:04/24/26
The score is held back primarily by weak financial quality—ongoing net losses and significant negative free cash flow despite some improvement—while the balance sheet remains a relative strength. Technicals provide support with a clear uptrend and positive momentum, but valuation is constrained by negative earnings and the absence of dividend yield data.
Positive Factors
Low Leverage / Balance Sheet Strength
The company’s very low debt-to-equity (~0.09) materially reduces interest burden and refinancing risk, providing durable financial flexibility to fund exploration and appraisal activity. Lower leverage supports multi‑month project pacing and reduces vulnerability to short-term market shocks.
Negative Factors
Persistent Negative Cash Generation
Deeply negative free cash flow and ongoing negative operating cash flow demonstrate structural cash burn. Continued outflows constrain the ability to self-fund development, increase reliance on external capital, and raise execution and dilution risk for advancing projects over the medium term.
Read all positive and negative factors
Positive Factors
Negative Factors
Low Leverage / Balance Sheet Strength
The company’s very low debt-to-equity (~0.09) materially reduces interest burden and refinancing risk, providing durable financial flexibility to fund exploration and appraisal activity. Lower leverage supports multi‑month project pacing and reduces vulnerability to short-term market shocks.
Read all positive factors
Comet Ridge Ltd (COI) vs. iShares MSCI Australia ETF (EWA)
Market Cap
AU$209.38M
Dividend YieldN/A
Average Volume (3M)337.20K
Price to Earnings (P/E)―
Beta (1Y)0.73
Revenue GrowthN/A
EPS Growth70.00%
CountryAU
EmployeesN/A
SectorEnergy
Sector Strength52
IndustryOil & Gas Exploration & Production
Share Statistics
EPS (TTM)>-0.01
Shares Outstanding1,196,438,700
10 Day Avg. Volume505,534
30 Day Avg. Volume337,198
Financial Highlights & Ratios
PEG Ratio0.00
Price to Book (P/B)1.40
Price to Sales (P/S)40.29
P/FCF Ratio-5.50
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price Target
AU$0.25Price Target Upside66.67% Upside
Rating ConsensusModerate Buy
Number of Analyst Covering1
EPS Forecast (FY)>-0.01
Revenue Forecast (FY)N/A
Comet Ridge Ltd Business Overview & Revenue Model
Company Description
Comet Ridge Limited, together with its subsidiaries, engages in the oil and gas exploration activities in Australia. The company's flagship asset includes Mahalo gas project covering an area of 989 square kilometers located in the Bowen Basin, Que...
How the Company Makes Money
Comet Ridge Ltd’s specific, company-disclosed revenue model and current material revenue streams are not available in the information provided, so a detailed breakdown of how it makes money (e.g., whether through gas sales, farm-outs, asset sales,...
Comet Ridge Ltd Financial Statement Overview
Summary
Income Statement
24
Negative
Balance Sheet
62
Positive
Cash Flow
18
Very Negative
| Breakdown | TTM | Jun 2025 | Jun 2024 | Jun 2023 | Jun 2022 | Jun 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 0.00 | 2.79M | 0.00 | 0.00 | 0.00 | 20.00K |
| Gross Profit | -281.00K | 2.79M | -198.00K | -124.00K | -71.00K | -79.98K |
| EBITDA | -2.41M | -17.00K | -4.92M | -3.52M | -7.45M | -6.88M |
| Net Income | -3.38M | -2.47M | -7.17M | -6.57M | -8.63M | -6.96M |
Balance Sheet | ||||||
| Total Assets | 125.28M | 125.00M | 120.30M | 111.36M | 109.36M | 76.23M |
| Cash, Cash Equivalents and Short-Term Investments | 7.05M | 13.30M | 16.78M | 11.65M | 8.00M | 3.97M |
| Total Debt | 229.00K | 6.95M | 7.44M | 7.21M | 19.44M | 0.00 |
| Total Liabilities | 47.06M | 44.68M | 47.80M | 47.05M | 61.81M | 25.82M |
| Stockholders Equity | 78.22M | 80.32M | 72.51M | 64.31M | 47.55M | 50.41M |
Cash Flow | ||||||
| Free Cash Flow | -5.94M | -20.43M | -8.94M | -9.20M | -11.69M | -4.36M |
| Operating Cash Flow | -5.92M | -4.12M | -4.22M | -3.80M | -3.36M | -1.98M |
| Investing Cash Flow | -14.83M | -10.61M | -4.63M | -6.54M | -20.33M | 891.00K |
| Financing Cash Flow | 11.18M | 11.25M | 13.97M | 14.62M | 27.72M | -2.00K |
Comet Ridge Ltd Technical Analysis
Positive
0.15
Price Trends
0.14
Positive
0.13
Positive
0.13
Positive
Market Momentum
<0.01
Negative
60.23
Neutral
77.78
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For AU:COI, the sentiment is Positive. The current price of 0.15 is above the 20-day moving average (MA) of 0.14, above the 50-day MA of 0.14, and above the 200-day MA of 0.13, indicating a bullish trend. The MACD of <0.01 indicates Negative momentum. The RSI at 60.23 is Neutral, neither overbought nor oversold. The STOCH value of 77.78 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for AU:COI.
Comet Ridge Ltd Peers Comparison
UnderperformOutperform
Sector (65)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
78 Outperform | AU$90.97M | 3.94 | 12.05% | 13.04% | 10.44% | -55.67% | |
65 Neutral | $15.17B | 7.61 | 4.09% | 5.20% | 3.87% | -62.32% | |
58 Neutral | AU$58.72M | -6.85 | 11.28% | ― | 17.42% | -38.46% | |
54 Neutral | AU$1.29B | -30.28 | -21.66% | ― | ― | ― | |
52 Neutral | AU$209.38M | -19.23 | -4.74% | ― | ― | 70.00% | |
49 Neutral | AU$445.56M | -6.11 | -14.19% | ― | ― | ― | |
39 Underperform | AU$16.17M | -1.64 | -35.17% | ― | ― | ― |
* Energy Sector Average
AU:COI
Comet Ridge Ltd
0.18
0.04
34.62%
AU:BRU
Buru Energy
0.01
-0.03
-64.10%
AU:CUE
Cue Energy Resources Limited
0.13
0.04
41.30%
AU:BTL
Empire Energy Group Limited
0.30
0.13
76.47%
AU:CTP
Central Petroleum Limited
0.08
0.02
34.48%
AU:TBN
Tamboran Resources Limited
0.25
0.08
50.60%
Comet Ridge Ltd Corporate Events
Comet Ridge Warrants Lapse, Simplifying Capital Structure
Apr 1, 2026
Comet Ridge Limited has notified the market of the cessation of 22,727,273 COIAQ warrants, which expired on 30 March 2026 without being exercised or converted. The expiry of these options slightly simplifies the company’s capital structure a...
Comet Ridge Extends Key Conditions on CleanCo Gas Sales Agreement
Mar 31, 2026
Comet Ridge has secured a mutual extension with CleanCo Queensland for the remaining conditions under their Gas Sales Agreement, moving the deadline to 31 May 2026 for Comet Ridge to obtain project finance and gas transportation and processing arr...
S&P Dow Jones Revises March All Ordinaries Rebalance, Adds New ASX Constituents
Mar 10, 2026
SP Dow Jones Indices has updated the March 2026 quarterly rebalance of the All Ordinaries index, reversing earlier plans by keeping American Rare Earths Limited in the index and not adding African Gold Limited, effective before trading opens on 23...
Comet Ridge Issues Half-Year 2025 Financial Statements
Mar 5, 2026
Comet Ridge Ltd has released its consolidated financial statements for the half-year ended 31 December 2025, providing investors with updated information on its financial performance and position. The report package includes the directors’ r...
Comet Ridge to Take Full Control of Mahalo Gas Hub as Key Approvals and FEED Advance
Jan 29, 2026
Comet Ridge has moved to consolidate full control of its flagship Mahalo Gas Hub in Queensland, signing a binding agreement to acquire Santos QNT’s 42.86% stake in the Mahalo Gas Project, which will give it 100% ownership and operatorship ov...
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.