DevEx Resources Ltd (AU:DEV)
ASX:DEV
Want to see AU:DEV full AI Analyst Report?
Top Page
DevEx Resources Ltd
(Sydney:DEV)
Select Model
Select Model
Rating:44Neutral
Price Target:
AU$0.20
▲(24.38% Upside)
Action:ReiteratedDate:03/31/26
The score is held down primarily by weak financial performance, including declining revenue, ongoing losses, and negative operating/free cash flow. Technical indicators also lean bearish with the price below key moving averages and a negative MACD, partially offset by oversold signals. Valuation provides limited support because a negative P/E reflects unprofitable operations and no dividend yield is available.
Positive Factors
Low leverage
A very low debt load provides durable financial flexibility for an exploration company. Minimal leverage reduces insolvency risk during long exploration cycles, allows management to prioritize strategic farm-outs or staged drilling, and preserves optionality when commodity cycles improve.
Negative Factors
Negative operating and free cash flow
Persistent negative operating and free cash flow is a structural constraint: the company cannot self-fund exploration or studies, increasing reliance on external capital. Over time this drives dilution risk, limits the pace of project advancement, and can force unfavorable financing or asset sales.
Read all positive and negative factors
Positive Factors
Negative Factors
Low leverage
A very low debt load provides durable financial flexibility for an exploration company. Minimal leverage reduces insolvency risk during long exploration cycles, allows management to prioritize strategic farm-outs or staged drilling, and preserves optionality when commodity cycles improve.
Read all positive factors
DevEx Resources Ltd (DEV) vs. iShares MSCI Australia ETF (EWA)
Market Cap
AU$145.57M
Dividend YieldN/A
Average Volume (3M)1.76M
Price to Earnings (P/E)―
Beta (1Y)1.60
Revenue Growth-100.00%
EPS Growth35.62%
CountryAU
Employees4
SectorBasic Materials
Sector Strength58
IndustryIndustrial Materials
Share Statistics
EPS (TTM)-0.01
Shares Outstanding710,080,440
10 Day Avg. Volume2,256,041
30 Day Avg. Volume1,762,349
Financial Highlights & Ratios
PEG Ratio0.17
Price to Book (P/B)2.25
Price to Sales (P/S)87.00
P/FCF Ratio-3.29
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)N/A
Revenue Forecast (FY)N/A
DevEx Resources Ltd Business Overview & Revenue Model
Company Description
DevEx Resources Ltd (DEV) is an Australian mineral exploration company focused on the discovery and development of high-quality resources, primarily in the gold and base metals sectors. The company operates in key mineral-rich regions of Australia...
How the Company Makes Money
DevEx Resources does not generally generate recurring operating revenue from producing mines; instead, it is typically funded through capital raises and any monetisation of exploration assets. Potential ways the company can make money include: (1)...
DevEx Resources Ltd Financial Statement Overview
Summary
Income Statement
20
Very Negative
Balance Sheet
35
Negative
Cash Flow
25
Negative
| Breakdown | TTM | Jun 2025 | Jun 2024 | Jun 2023 | Jun 2022 | Jun 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 0.00 | 355.32K | 100.00K | 14.17K | 0.00 | 0.00 |
| Gross Profit | -389.00K | 355.32K | 100.00K | -294.00K | -376.00K | -488.00K |
| EBITDA | -7.63M | -9.30M | -9.90M | -12.61M | -11.51M | -6.08M |
| Net Income | -8.49M | -9.11M | -10.79M | -12.94M | -11.91M | -6.58M |
Balance Sheet | ||||||
| Total Assets | 33.27M | 16.07M | 26.31M | 15.92M | 11.29M | 19.49M |
| Cash, Cash Equivalents and Short-Term Investments | 24.16M | 7.12M | 16.77M | 12.67M | 7.87M | 16.58M |
| Total Debt | 96.84K | 147.29K | 262.23K | 366.66K | 435.70K | 495.99K |
| Total Liabilities | 2.79M | 2.31M | 3.43M | 3.46M | 3.20M | 2.70M |
| Stockholders Equity | 30.48M | 13.75M | 22.88M | 12.46M | 8.08M | 16.79M |
Cash Flow | ||||||
| Free Cash Flow | -6.23M | -9.39M | -15.12M | -12.14M | -9.32M | -6.15M |
| Operating Cash Flow | -6.17M | -9.34M | -14.84M | -12.02M | -9.24M | -5.96M |
| Investing Cash Flow | -259.21K | -121.19K | -656.83K | -116.32K | -188.28K | -185.97K |
| Financing Cash Flow | 21.55M | -189.39K | 19.59M | 16.94M | 723.19K | 20.51M |
DevEx Resources Ltd Technical Analysis
Positive
0.16
Price Trends
0.21
Positive
0.20
Positive
0.15
Positive
Market Momentum
<0.01
Negative
58.49
Neutral
68.38
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For AU:DEV, the sentiment is Positive. The current price of 0.16 is below the 20-day moving average (MA) of 0.18, below the 50-day MA of 0.21, and above the 200-day MA of 0.15, indicating a bullish trend. The MACD of <0.01 indicates Negative momentum. The RSI at 58.49 is Neutral, neither overbought nor oversold. The STOCH value of 68.38 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for AU:DEV.
DevEx Resources Ltd Peers Comparison
UnderperformOutperform
Sector (61)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
63 Neutral | AU$168.05M | 146.12 | 0.67% | ― | ― | -28.57% | |
61 Neutral | $10.43B | 7.12 | -0.05% | 2.87% | 2.86% | -36.73% | |
52 Neutral | AU$155.15M | 51.54 | -0.02% | ― | ― | 99.44% | |
51 Neutral | AU$148.31M | -13.89 | -1.99% | ― | ― | 81.34% | |
47 Neutral | AU$147.25M | -14.15 | -19.34% | ― | ― | 62.50% | |
44 Neutral | AU$145.57M | -3.42 | -38.38% | ― | -100.00% | 35.62% | |
44 Neutral | AU$132.84M | -3.65 | -54.77% | ― | -4.13% | 5.02% |
* Basic Materials Sector Average
AU:DEV
DevEx Resources Ltd
0.21
0.12
146.99%
AU:ARL
Ardea Resources
0.68
0.26
62.65%
AU:TLG
Talga Group
0.26
-0.19
-41.57%
AU:QGL
Quantum Graphite Ltd
0.42
-0.06
-12.50%
AU:GL1
Global Lithium Resources Ltd.
0.59
0.41
227.78%
AU:RNU
Renascor Resources Limited
0.07
>-0.01
-2.94%
DevEx Resources Ltd Corporate Events
DevEx Resources Issues 250,000 Unquoted Options Under Employee Incentive Scheme
Apr 24, 2026
DevEx Resources Limited has issued 250,000 unquoted options under its employee incentive scheme, with various expiry dates and exercise prices, effective 24 April 2026. The move underscores the company’s continued reliance on equity incentiv...
DevEx maps out uranium and rare earths growth strategy
Mar 17, 2026
DevEx Resources has outlined its strategy to become a new force in uranium by advancing exploration at its Nabarlek and Murphy West projects, supported by a series of strong historical drilling and soil anomaly results. The company is leveraging p...
DevEx outlines new kilometre-scale uranium targets at Murphy West ahead of 2026 drilling
Mar 17, 2026
DevEx Resources has identified multiple new kilometre-scale, multi-element soil anomalies at its Murphy West Uranium Project in the Northern Territory, using ongoing surface geochemical sampling over priority radiometric uranium targets. These ano...
DevEx Resources Files Half-Year Report, Details Not Disclosed in Extract
Mar 13, 2026
DevEx Resources Limited has released its half-year report for the period ended 31 December 2024, providing the usual suite of corporate disclosures including a directors’ report, financial statements, notes, and an independent auditor’...
DevEx Resources Issues 2.5 Million Unquoted Options Under Employee Incentive Scheme
Feb 27, 2026
DevEx Resources Ltd has notified the ASX of the issue of 2,500,000 unquoted options under its employee incentive scheme. The options, which expire on various dates and have various exercise prices, are not intended to be quoted on the ASX, indicat...
DevEx Chairman Timothy Goyder Lifts Indirect Stake to Nearly 112m Shares
Jan 29, 2026
DevEx Resources has disclosed a significant increase in chairman Timothy Goyder’s indirect shareholding following recent on-market acquisitions. Through the Goyder Family Trust and his wife Linda Goyder, Goyder acquired a combined 25 million...
DevEx Raises $38.9m to Expand Alligator Rivers Uranium Exploration
Jan 29, 2026
DevEx Resources has completed a two-tranche capital raising, including a placement and share purchase plan, securing a total of $38.9 million before costs. The second tranche, approved by shareholders on 22 January 2026, involved the issue of 110,...
DevEx Seeks ASX Quotation for Over 110 Million New Shares
Jan 29, 2026
DevEx Resources Limited has applied to the ASX for quotation of 110,266,988 new ordinary fully paid shares under code DEV, following a previously announced transaction. The issuance and quotation of these securities, effective 29 January 2026, wil...
DevEx Resources Issues Unquoted Options and Performance Rights Under Employee Incentive Scheme
Jan 27, 2026
DevEx Resources Limited has issued 16 million unquoted options and 9.9 million performance rights under its employee incentive scheme, with both classes of securities allotted on 23 January 2026. The grant of these unquoted equity incentives is de...
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.