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Catalyst Metals Limited (AU:CYL)
ASX:CYL
Australian Market

Catalyst Metals Limited (CYL) AI Stock Analysis

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AU:CYL

Catalyst Metals Limited

(Sydney:CYL)

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Neutral 68 (OpenAI - 5.2)
Rating:68Neutral
Price Target:
AU$8.50
▲(1.67% Upside)
Action:ReiteratedDate:01/17/26
The score is driven primarily by strong profitability and a very low-leverage balance sheet, tempered by weakening growth signals (revenue decline and sharply lower free cash flow growth). Technicals remain trend-positive but are overbought, and valuation is only moderate with no dividend data to add support.
Positive Factors
High profitability
Sustained high gross and net margins indicate durable operational efficiency and pricing power in production. These margins support internal funding for maintenance, exploration and near-term growth, and provide a buffer versus commodity price volatility over the medium term.
Very low leverage
Extremely low debt levels give the company financial flexibility to fund capex, exploration or opportunistic M&A without strained coverage. Low leverage reduces default risk during commodity downturns and supports long-term strategic optionality.
Strong cash conversion
Operating cash conversion above 1 signals earnings quality and the company’s ability to turn profits into cash. Reliable cash generation underpins operational sustainability, funds near-term project spending and reduces reliance on external financing.
Negative Factors
Declining revenue trend
A drop in revenue growth indicates pressure on top-line scalability, which can erode operating leverage and limit the company’s ability to expand margins. Persisting revenue declines may reflect production constraints or resource maturity and threaten medium-term earnings resilience.
Sharp fall in free cash flow growth
A steep decline in FCF growth materially reduces internal funds available for exploration, sustaining capex and discretionary returns. Over several quarters this constrains reinvestment and heightens vulnerability to funding shortfalls if commodity prices or production dip.
Limited free cash available for returns
A low FCF-to-net-income ratio and absence of dividend data suggest profits are not translating into distributable cash. This limits shareholder returns and reduces buffer to finance growth internally, increasing reliance on future cash generation or external capital.

Catalyst Metals Limited (CYL) vs. iShares MSCI Australia ETF (EWA)

Catalyst Metals Limited Business Overview & Revenue Model

Company DescriptionCatalyst Metals Limited explores for and evaluates mineral properties in Australia. The company also produces gold. It holds interests in the Four Eagles, Tandarra, Drummartin, Golden Camel, Macorna Bore, Raydarra, Boort, and Sebastian projects located in Whitelaw Gold Belt, Victoria, as well as the Henty gold mine located in Tasmaina. The company was incorporated in 2006 and is based in Subiaco, Australia.
How the Company Makes MoneyCatalyst Metals Limited generates revenue primarily through the exploration and potential development of its mineral projects. The company aims to discover economically viable gold deposits and may eventually monetize its assets through mining operations or the sale of joint venture interests. Key revenue streams include the sale of extracted minerals, potential royalties from production, and partnerships with other mining companies for exploration and development activities. The company may also benefit from strategic partnerships that provide funding or shared expertise, enhancing its ability to advance projects and increase shareholder value.

Catalyst Metals Limited Financial Statement Overview

Summary
Strong profitability (net margin 33%, gross margin 41.5%) and a solid balance sheet (very low debt-to-equity 0.034, ROE 25.34%). The score is held back by declining revenue growth (-11.27%) and a sharp drop in free cash flow growth (-67.13%), which raises sustainability concerns.
Income Statement
75
Positive
Catalyst Metals Limited has shown strong profitability with a high net profit margin of 33% and a gross profit margin of 41.5% in the latest year. However, the revenue growth rate has declined by 11.27%, indicating a potential challenge in maintaining growth momentum. The EBIT and EBITDA margins are robust, reflecting efficient operations.
Balance Sheet
80
Positive
The company maintains a low debt-to-equity ratio of 0.034, indicating low leverage and financial stability. The return on equity is strong at 25.34%, showcasing effective use of equity to generate profits. The equity ratio is healthy, suggesting a solid financial position.
Cash Flow
60
Neutral
The operating cash flow to net income ratio is favorable at 1.58, indicating good cash generation relative to net income. However, the free cash flow growth rate has significantly declined by 67.13%, which could impact future investments and liquidity. The free cash flow to net income ratio is moderate at 0.19.
BreakdownTTMJun 2025Jun 2024Jun 2023Jun 2022Jun 2021
Income Statement
Total Revenue405.15M361.41M241.95M63.94M63.33M28.51M
Gross Profit218.80M150.07M68.75M-6.28M3.69M6.41M
EBITDA190.19M153.44M63.28M-614.00K10.50M6.00M
Net Income118.60M119.27M23.56M-15.60M2.09M934.75K
Balance Sheet
Total Assets777.00M651.93M340.48M315.42M79.54M82.81M
Cash, Cash Equivalents and Short-Term Investments227.46M222.05M39.04M31.98M21.24M30.52M
Total Debt17.21M15.84M26.31M33.82M2.27M1.25M
Total Liabilities195.72M181.20M138.50M143.65M21.82M27.63M
Stockholders Equity581.28M470.73M201.98M171.77M57.72M55.18M
Cash Flow
Free Cash Flow109.18M36.50M37.96M-17.35M-8.60M-4.22M
Operating Cash Flow211.68M196.08M70.71M7.86M6.99M10.91M
Investing Cash Flow-205.21M-141.46M-37.73M-16.89M-20.80M-23.58M
Financing Cash Flow142.87M132.56M-30.84M19.58M1.53M24.85M

Catalyst Metals Limited Technical Analysis

Technical Analysis Sentiment
Positive
Last Price8.36
Price Trends
50DMA
8.03
Positive
100DMA
7.54
Positive
200DMA
7.03
Positive
Market Momentum
MACD
0.13
Negative
RSI
53.84
Neutral
STOCH
70.30
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For AU:CYL, the sentiment is Positive. The current price of 8.36 is above the 20-day moving average (MA) of 7.96, above the 50-day MA of 8.03, and above the 200-day MA of 7.03, indicating a bullish trend. The MACD of 0.13 indicates Negative momentum. The RSI at 53.84 is Neutral, neither overbought nor oversold. The STOCH value of 70.30 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for AU:CYL.

Catalyst Metals Limited Peers Comparison

Overall Rating
UnderperformOutperform
Sector (61)
Financial Indicators
Name
Overall Rating
Market Cap
P/E Ratio
ROE
Dividend Yield
Revenue Growth
EPS Growth
73
Outperform
AU$2.64B7.6397.13%88.71%541.56%
72
Outperform
AU$3.47B15.301.55%42.75%-5.56%
68
Neutral
AU$2.11B7.8627.46%14.01%331.24%
62
Neutral
AU$2.25B5.9312.22%55.73%
61
Neutral
$10.43B7.12-0.05%2.87%2.86%-36.73%
54
Neutral
AU$2.57B-37.45-6.52%-29.27%
52
Neutral
AU$2.69B240.15-6.65%69.51%-153.68%
* Basic Materials Sector Average
Performance Comparison
Ticker
Company Name
Price
Change
% Change
AU:CYL
Catalyst Metals Limited
8.11
3.92
93.56%
AU:RSG
Resolute Mining
1.53
1.13
286.08%
AU:OBM
Ora Banda Mining
1.36
0.40
41.15%
AU:PNR
Pantoro Gold Limited
5.52
3.22
140.52%
AU:PDI
Predictive Discovery Limited
0.98
0.64
186.76%
AU:BGL
Bellevue Gold Limited
1.74
0.51
42.04%

Catalyst Metals Limited Corporate Events

Catalyst Metals Director Trims Shareholding in $5.8m On-Market Trade
Feb 10, 2026

Catalyst Metals has disclosed a change in the holdings of director James Champion de Crespigny, who has reduced his interest in the company via on-market trades. The director disposed of 750,000 fully paid ordinary shares, cutting his direct and indirect shareholding to 2,885,833 shares while retaining his existing performance and production incentive rights, signalling a notable but measured adjustment to his equity exposure.

The transaction, valued at about $5.8 million, reflects personal portfolio activity rather than any alteration to the company’s capital structure or incentive schemes. Existing performance-related rights, including STI, LTI, and production incentive rights, remain unchanged, suggesting continuity in the director’s long-term alignment with shareholder outcomes despite the sale of a significant parcel of shares.

The most recent analyst rating on (AU:CYL) stock is a Hold with a A$8.00 price target. To see the full list of analyst forecasts on Catalyst Metals Limited stock, see the AU:CYL Stock Forecast page.

Catalyst Metals Appoints Mark Connelly as New Chair to Lead Next Growth Phase
Feb 1, 2026

Catalyst Metals has announced that experienced mining executive Mark Connelly will succeed David Jones as independent non-executive director and chair of the board from 2 March 2026, following a February transition period and unanimous board endorsement. The board change is positioned as the next step in the company’s evolution from a smaller East Coast-focused gold player to a mid-cap Western Australian gold producer in the ASX 200, with Connelly expected to leverage his strong track record in gold sector transactions and leadership to support Catalyst’s next phase of growth, operational optimisation and strategic expansion, potentially enhancing long-term value for shareholders and reinforcing the company’s competitive standing in the Australian gold industry.

The most recent analyst rating on (AU:CYL) stock is a Buy with a A$12.51 price target. To see the full list of analyst forecasts on Catalyst Metals Limited stock, see the AU:CYL Stock Forecast page.

Catalyst Fast-Tracks High-Grade K2 Mine to Underpin Plutonic Growth Ambitions
Jan 27, 2026

Catalyst Metals has outlined rapid progress at its K2 satellite gold mine on the Plutonic Belt, a historically mined but largely unexplored deposit that lay dormant since the late 1990s and sits 40km from the company’s Plutonic processing plant. With a current resource of 81,000 ounces at 3.6 g/t and a reserve of 20,000 ounces at 4.3 g/t, Catalyst has spent the past year rehabilitating the existing decline, installing surface infrastructure and undertaking grade control drilling that has returned multiple high-grade intercepts, while also deploying rigs for resource extension and down-dip exploration to expand the mineralised footprint. K2 is now the fourth of five mines being brought into operation in about two and a half years, and, alongside the Trident and Old Highway underground mines, is expected to provide higher-grade ore that increases the blended feed grade through Plutonic’s central plant, reduces unit costs and underpins the company’s plan to grow Plutonic Belt output from around 100,000 to 200,000 ounces of gold annually over a 10-year horizon.

The most recent analyst rating on (AU:CYL) stock is a Buy with a A$12.51 price target. To see the full list of analyst forecasts on Catalyst Metals Limited stock, see the AU:CYL Stock Forecast page.

Catalyst Metals Director Cuts Indirect Shareholding by One Million Shares
Jan 23, 2026

Catalyst Metals Limited has disclosed a change in the indirect shareholding of director Robin MacDiarmid Campbell Scrimgeour, as required under ASX listing rules. Through Citicorp Nominees (Australia) Limited as beneficial holder, Scrimgeour disposed of 1,000,000 fully paid ordinary shares in on-market trades between 20 and 23 January 2026 for total consideration of approximately $9.22 million, reducing his indirect holding from 5,000,000 to 4,000,000 shares. The company confirmed there were no related changes in contractual interests and that the trades did not occur during a closed period, underscoring compliance with corporate governance and disclosure obligations for directors’ dealings in company securities.

The most recent analyst rating on (AU:CYL) stock is a Buy with a A$12.51 price target. To see the full list of analyst forecasts on Catalyst Metals Limited stock, see the AU:CYL Stock Forecast page.

Catalyst Metals Uncovers New High-Grade Zone at Cinnamon, Bolstering Plutonic Growth Plans
Jan 18, 2026

Catalyst Metals has reported further encouraging drill results at the Cinnamon trend on the Plutonic Gold Belt, confirming a 400-metre-long high-grade gold zone beneath the existing Cinnamon open-pit resource that remains open along strike and at depth. The discovery suggests Cinnamon could become a sixth underground ore source alongside Plutonic Main, Plutonic East, Trident, K2 and Old Highway, potentially feeding into the company’s 10-year plan to double Plutonic Belt production from about 100,000 to 200,000 ounces a year and further de-risking that growth profile by converting exploration targets into resources and reserves, while also supporting the case for future expansion options such as a possible restart of a second processing plant at Plutonic.

The most recent analyst rating on (AU:CYL) stock is a Hold with a A$10.00 price target. To see the full list of analyst forecasts on Catalyst Metals Limited stock, see the AU:CYL Stock Forecast page.

Catalyst Metals Delivers Record Plutonic Output and Clears Final Legal Hurdle as Growth Pipeline Advances
Jan 14, 2026

Catalyst Metals reported record quarterly gold production of 28,176 ounces from its Plutonic operations, with ore sourced from three mines and all-in sustaining costs of A$2,565 per ounce produced, while reaffirming full-year guidance of 100,000–110,000 ounces. The company strengthened its growth platform by progressing development at the K2 and Trident mines, expanding exploration across the Plutonic Belt—particularly with high-grade drilling success at Cinnamon—and resolving a legacy legal dispute over K2, all while generating A$74 million in operating cash flow, increasing cash and bullion to A$238 million, and remaining debt-free with total available liquidity of A$338 million, positioning it to pursue its long-life, multi-mine growth strategy in both Western Australia and Victoria.

The most recent analyst rating on (AU:CYL) stock is a Buy with a A$9.00 price target. To see the full list of analyst forecasts on Catalyst Metals Limited stock, see the AU:CYL Stock Forecast page.

State Street Group Ceases to Be Substantial Holder in Catalyst Metals
Jan 1, 2026

State Street Corporation and several of its asset management subsidiaries, including State Street Global Advisors entities and State Street Bank and Trust Company, have lodged a notice confirming they have ceased to be substantial shareholders in Catalyst Metals Limited as of 29 December 2025. The change reduces the presence of a major global institutional investor on Catalyst’s register, potentially altering the company’s shareholder base composition and liquidity profile, and may be closely watched by other investors assessing institutional support and ownership dynamics in the stock.

The most recent analyst rating on (AU:CYL) stock is a Hold with a A$8.00 price target. To see the full list of analyst forecasts on Catalyst Metals Limited stock, see the AU:CYL Stock Forecast page.

State Street Group Ceases to Be Substantial Holder in Catalyst Metals
Dec 28, 2025

State Street Corporation, through several of its asset management and trustee subsidiaries, has lodged a notice that it has ceased to be a substantial shareholder in Catalyst Metals Limited as of 22 December 2025. The filing, made under section 671B of the Corporations Act, indicates that State Street’s group entities no longer hold a stake large enough to require substantial holder disclosure, signalling a reduced institutional presence on the company’s register and a potential shift in Catalyst Metals’ shareholder base that may affect trading dynamics and governance influence by large global investors.

The most recent analyst rating on (AU:CYL) stock is a Hold with a A$8.00 price target. To see the full list of analyst forecasts on Catalyst Metals Limited stock, see the AU:CYL Stock Forecast page.

Catalyst Metals Announces Director’s Shareholding Adjustment
Dec 3, 2025

Catalyst Metals Limited has announced a change in the director’s interest, with Robin MacDiarmid Campbell Scrimgeour reducing his indirect holding of fully paid ordinary shares by 250,000, now holding 5,000,000 shares. This transaction, conducted through on-market trades, reflects a strategic adjustment in the director’s investment portfolio, potentially impacting stakeholder perceptions and the company’s stock market dynamics.

The most recent analyst rating on (AU:CYL) stock is a Buy with a A$10.58 price target. To see the full list of analyst forecasts on Catalyst Metals Limited stock, see the AU:CYL Stock Forecast page.

Catalyst Metals CFO Departure Amidst Expansion Plans
Dec 1, 2025

Catalyst Metals Limited announced the departure of its Chief Financial Officer, Elena O’Connor, and has initiated a search for her replacement. In the interim, the CFO responsibilities will be managed by the senior leadership team to ensure a smooth transition. This change comes as the company is in a phase of significant growth, aiming to increase its gold production and reserves, which could strengthen its position in the mining industry.

The most recent analyst rating on (AU:CYL) stock is a Buy with a A$10.58 price target. To see the full list of analyst forecasts on Catalyst Metals Limited stock, see the AU:CYL Stock Forecast page.

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.Date of analysis: Jan 17, 2026