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DevEx Resources Ltd
(Sydney:DEV)
DevEx Resources Ltd (DEV) vs. iShares MSCI Australia ETF (EWA)
DevEx Resources Ltd Business Overview & Revenue Model
DevEx Resources Ltd Financial Statement Overview
| Breakdown | TTM | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 355.32K | 355.32K | 100.00K | 14.17K | 0.00 | 0.00 |
| Gross Profit | 131.91K | 355.32K | 100.00K | -294.00K | -376.00K | -488.00K |
| EBITDA | -9.30M | -9.30M | -9.90M | -12.61M | -11.51M | -6.08M |
| Net Income | -9.11M | -9.11M | -10.79M | -12.94M | -11.91M | -6.58M |
Balance Sheet | ||||||
| Total Assets | 16.07M | 16.07M | 26.31M | 15.92M | 11.29M | 19.49M |
| Cash, Cash Equivalents and Short-Term Investments | 7.12M | 7.12M | 16.77M | 12.67M | 7.87M | 16.58M |
| Total Debt | 147.29K | 147.29K | 262.23K | 366.66K | 435.70K | 495.99K |
| Total Liabilities | 2.31M | 2.31M | 3.43M | 3.46M | 3.20M | 2.70M |
| Stockholders Equity | 13.75M | 13.75M | 22.88M | 12.46M | 8.08M | 16.79M |
Cash Flow | ||||||
| Free Cash Flow | -9.39M | -9.39M | -15.12M | -12.14M | -9.32M | -6.15M |
| Operating Cash Flow | -9.34M | -9.34M | -14.84M | -12.02M | -9.24M | -5.96M |
| Investing Cash Flow | -121.19K | -121.19K | -656.83K | -116.32K | -188.28K | -185.97K |
| Financing Cash Flow | -189.39K | -189.39K | 19.59M | 16.94M | 723.19K | 20.51M |
DevEx Resources Ltd Technical Analysis
DevEx Resources Ltd Peers Comparison
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% | |
50 Neutral | AU$113.70M | -10.26 | -96.79% | ― | ― | -116.67% | |
50 Neutral | AU$47.20M | -30.51 | -10.97% | ― | ― | 71.63% | |
47 Neutral | AU$181.07M | -12.38 | -49.01% | ― | -100.00% | 19.53% | |
47 Neutral | AU$154.92M | -4.69 | -32.57% | ― | -100.00% | -477.06% | |
42 Neutral | AU$70.53M | -11.93 | -16.71% | ― | ― | -18.92% | |
41 Neutral | AU$62.36M | -20.63 | -39.80% | ― | ― | -4.13% |
DevEx Resources Ltd Corporate Events
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 fully paid ordinary shares for a total consideration of approximately $3.625 million, lifting his total direct and indirect holding to 111.9 million shares. The expanded stake further consolidates insider ownership in the company, which may be interpreted by investors as a sign of confidence in DevEx’s prospects and could influence market perceptions of the stock’s longer-term outlook.
The most recent analyst rating on (AU:DEV) stock is a Hold with a A$0.24 price target. To see the full list of analyst forecasts on DevEx Resources Ltd stock, see the AU:DEV Stock Forecast page.
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 110,266,988 new shares at $0.145 each to raise about $16 million, with proceeds earmarked for acquiring further tenure in the Alligator Rivers Uranium Province, funding an expanded 2026 exploration program at the Nabarlek and Murphy West uranium projects, and providing general working capital, strengthening the company’s exploration pipeline and strategic footprint in a key uranium district.
The most recent analyst rating on (AU:DEV) stock is a Hold with a A$0.24 price target. To see the full list of analyst forecasts on DevEx Resources Ltd stock, see the AU:DEV Stock Forecast page.
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, will expand the company’s listed share base, with implications for its capital structure and liquidity for existing and new shareholders.
The most recent analyst rating on (AU:DEV) stock is a Hold with a A$0.24 price target. To see the full list of analyst forecasts on DevEx Resources Ltd stock, see the AU:DEV Stock Forecast page.
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 designed to align employees’ and executives’ interests with shareholder value creation, potentially affecting the company’s capital structure over time through future conversions while supporting staff retention and performance in a competitive resources sector.
The most recent analyst rating on (AU:DEV) stock is a Hold with a A$0.24 price target. To see the full list of analyst forecasts on DevEx Resources Ltd stock, see the AU:DEV Stock Forecast page.
DevEx Resources Limited has confirmed that all resolutions put to shareholders at its 22 January 2026 general meeting were passed by poll, with strong levels of support recorded across the board. The vote outcomes ratified prior share placements, approved the issue of additional Tranche 2 placement shares to directors and other participants, and endorsed the grant of options and performance rights to key executives and directors, reinforcing the company’s existing capital-raising program and incentive structures and signalling solid shareholder backing for its current strategy and governance framework.
The most recent analyst rating on (AU:DEV) stock is a Hold with a A$0.19 price target. To see the full list of analyst forecasts on DevEx Resources Ltd stock, see the AU:DEV Stock Forecast page.
DevEx Resources has released an investor presentation positioning the company for growth in a recovering uranium market, highlighting a series of recent exploration results and targets across its Nabarlek and Murphy West uranium projects as well as an inferred mineral resource and ongoing metallurgical advances at its Kennedy rare earths project. The company reiterates that several key resource estimates, including the Caramal uranium mineral resource and Kennedy rare earths resource, are based on historical or prior technical work and have not yet been updated under the latest reporting standards, underscoring both the potential scale of its asset base and the need for further evaluation and exploration before these resources can be fully recognised and leveraged by investors and stakeholders.
The most recent analyst rating on (AU:DEV) stock is a Hold with a A$0.19 price target. To see the full list of analyst forecasts on DevEx Resources Ltd stock, see the AU:DEV Stock Forecast page.
DevEx Resources has overhauled its leadership team, appointing former Rio Tinto executive Marnie Finlayson as managing director and experienced exploration geologist Matthew Yates as a non-executive director, while simultaneously executing a series of strategic project acquisitions and financings to accelerate growth. The company has struck binding deals to acquire Alligator Energy’s uranium exploration tenure and nine Rio Tinto licence applications adjacent to its Nabarlek Uranium Project in the Alligator Rivers Uranium Province, consolidating more than 50km of under-explored uranium-bearing structures and expanding its footprint around high-grade deposits. At Nabarlek, DevEx has defined priority drill targets at the Sandfire prospect, secured environmental approvals for drilling in 2026, and advanced soil sampling and drill planning at the Murphy West uranium project. In Queensland, metallurgical test work at the Kennedy rare earth project has demonstrated strong recoveries and favourable leach characteristics consistent with a simple heap leach flowsheet for its ionic adsorption clay resource, underscoring its potential as a strategically important domestic REE asset. To fund these initiatives and its expanded exploration program, DevEx raised approximately $38.9 million through an institutional placement and oversubscribed share purchase plan, leaving it well capitalised to pursue its acquisition-led growth strategy and further corporate opportunities aimed at enhancing shareholder value.
The most recent analyst rating on (AU:DEV) stock is a Hold with a A$0.19 price target. To see the full list of analyst forecasts on DevEx Resources Ltd stock, see the AU:DEV Stock Forecast page.
DevEx Resources has disclosed a change in director Tim Goyder’s relevant interests in the company’s securities following his participation, via associated entities, in a Share Purchase Plan on 30 December 2025. Through the TRB Goyder Superannuation Fund and his wife Linda Goyder’s holdings, Goyder indirectly acquired a total of 413,794 fully paid ordinary shares for $60,000, lifting his aggregate holding to 86,897,621 shares, a move that modestly increases his exposure to the company and may be viewed as a signal of continued confidence in DevEx’s prospects by a key insider.
The most recent analyst rating on (AU:DEV) stock is a Hold with a A$0.19 price target. To see the full list of analyst forecasts on DevEx Resources Ltd stock, see the AU:DEV Stock Forecast page.
DevEx Resources has disclosed a change in director Matthew Yates’ indirect shareholding following his participation in the company’s Share Purchase Plan. Through Beacon Exploration Pty Ltd, of which Yates is the sole director, his indirect holding of fully paid ordinary shares increased from 100,000 to 306,897 after acquiring an additional 206,897 shares for $30,000, signalling further alignment of the director’s interests with those of shareholders.
The most recent analyst rating on (AU:DEV) stock is a Hold with a A$0.19 price target. To see the full list of analyst forecasts on DevEx Resources Ltd stock, see the AU:DEV Stock Forecast page.
DevEx Resources Limited has applied to the ASX for quotation of 47,700,097 new fully paid ordinary shares under the code DEV, following their issue on 30 December 2025. The additional securities, issued pursuant to a previously announced transaction, will expand the company’s quoted capital base and may have implications for existing shareholders through increased share liquidity and potential dilution, depending on the terms of the prior capital raising or transaction.
The most recent analyst rating on (AU:DEV) stock is a Hold with a A$0.19 price target. To see the full list of analyst forecasts on DevEx Resources Ltd stock, see the AU:DEV Stock Forecast page.
DevEx Resources has raised approximately A$6.9 million through an oversubscribed Share Purchase Plan, more than doubling its initial A$3 million target after strong demand from existing shareholders. The board chose to accept all valid applications, resulting in the issue of 47.7 million new shares at A$0.145 each, matching the price of a recent placement. The funds will be used to support recently acquired exploration tenure from Rio Tinto Exploration and Alligator Energy in the Alligator Rivers Uranium Province, underpinning an expanded exploration campaign across its consolidated Nabarlek and Murphy West uranium projects in 2026 and providing additional working capital, thereby reinforcing DevEx’s strategic push to build a leading position in this key uranium district.
The most recent analyst rating on (AU:DEV) stock is a Hold with a A$0.19 price target. To see the full list of analyst forecasts on DevEx Resources Ltd stock, see the AU:DEV Stock Forecast page.
DevEx Resources Limited has called a General Meeting of shareholders to be held in West Perth on 22 January 2026 at 10:30am WST. The company will provide the Notice of Meeting and explanatory materials electronically via its website rather than mailing physical copies, except to investors who have opted for hard-copy communications, and is urging shareholders to vote either online or by returning personalised proxy forms to its share registry ahead of the proxy deadline on 20 January 2026, reinforcing its push for efficient, digital shareholder engagement and broad participation in the meeting.
The most recent analyst rating on (AU:DEV) stock is a Hold with a A$0.19 price target. To see the full list of analyst forecasts on DevEx Resources Ltd stock, see the AU:DEV Stock Forecast page.
DevEx Resources Ltd announced that Graham Kluck has ceased to be a substantial holder in the company as of December 9, 2025. This change occurred due to a dilution of shares resulting from new shares issued by the company, affecting over 25 million fully paid ordinary shares. The announcement indicates a shift in the company’s shareholder structure, which may impact its governance and decision-making processes.
The most recent analyst rating on (AU:DEV) stock is a Hold with a A$0.19 price target. To see the full list of analyst forecasts on DevEx Resources Ltd stock, see the AU:DEV Stock Forecast page.
DevEx Resources Limited has issued 110,422,667 fully paid ordinary shares as part of a tranche 1 placement, without disclosure to investors under the Corporations Act. This strategic move is compliant with relevant provisions of the Corporations Act, indicating a robust adherence to regulatory standards, which may enhance the company’s financial position and operational capabilities.
The most recent analyst rating on (AU:DEV) stock is a Hold with a A$0.20 price target. To see the full list of analyst forecasts on DevEx Resources Ltd stock, see the AU:DEV Stock Forecast page.
DevEx Resources Ltd has announced the quotation of 110,422,667 fully paid ordinary securities on the Australian Securities Exchange (ASX), effective December 9, 2025. This move is part of previously announced transactions, indicating a strategic step to increase liquidity and potentially attract more investors, thereby strengthening its market position.
The most recent analyst rating on (AU:DEV) stock is a Hold with a A$0.20 price target. To see the full list of analyst forecasts on DevEx Resources Ltd stock, see the AU:DEV Stock Forecast page.
DevEx Resources Ltd has updated its previous announcement regarding the proposed issue of securities, specifically adjusting the minimum acceptance value under the Securities Purchase Plan. This update is part of the company’s strategic financial maneuvers to enhance its capital structure and support its exploration and development activities, potentially impacting its market positioning and stakeholder interests.
The most recent analyst rating on (AU:DEV) stock is a Hold with a A$0.20 price target. To see the full list of analyst forecasts on DevEx Resources Ltd stock, see the AU:DEV Stock Forecast page.
DevEx Resources Limited, a company listed on the Australian Securities Exchange (ASX: DEV), has announced a Share Purchase Plan (SPP) to allow eligible shareholders in Australia and New Zealand to purchase up to $30,000 worth of shares. This initiative is part of a larger capital raising effort to gather $32 million through the issuance of approximately 220.7 million shares at $0.145 per share. The SPP aims to raise up to $3 million, with the company retaining the discretion to accept more or less than this amount. The plan is open from today and will close on December 19, 2025, with the company reserving the right to close it early if necessary. This move is expected to bolster DevEx’s financial position and potentially enhance its market presence.
The most recent analyst rating on (AU:DEV) stock is a Hold with a A$0.20 price target. To see the full list of analyst forecasts on DevEx Resources Ltd stock, see the AU:DEV Stock Forecast page.
DevEx Resources Limited has announced the approval and release of its amended Constitution, following a special resolution by shareholders at the company’s 2025 Annual General Meeting. This amendment, effective from November 27, 2025, aligns with ASX Listing Rule 15.4.2 and signifies a strategic update in the company’s governance framework, potentially impacting its operational and market positioning.
The most recent analyst rating on (AU:DEV) stock is a Hold with a A$0.17 price target. To see the full list of analyst forecasts on DevEx Resources Ltd stock, see the AU:DEV Stock Forecast page.
DevEx Resources Limited, a company listed on the Australian Securities Exchange, has requested a trading halt in its securities. This halt is pending the announcement of a material capital raising, specifically the completion of the bookbuild process. The trading halt is expected to remain in place until the announcement is made or until normal trading resumes on December 3, 2025. This move is significant as it indicates a strategic financial maneuver by the company, potentially impacting its market position and stakeholder interests.
The most recent analyst rating on (AU:DEV) stock is a Hold with a A$0.17 price target. To see the full list of analyst forecasts on DevEx Resources Ltd stock, see the AU:DEV Stock Forecast page.
DevEx Resources Ltd has announced significant developments in its uranium exploration projects, particularly at the Nabarlek Project in Northern Territory, Australia. The company has identified multiple high-priority uranium targets, which could enhance its position in the resurging uranium sector. Additionally, advancements in the Kennedy Project, focusing on rare earth elements, have been highlighted, underscoring the company’s strategic focus on expanding its resource base and capitalizing on market opportunities.
The most recent analyst rating on (AU:DEV) stock is a Hold with a A$0.17 price target. To see the full list of analyst forecasts on DevEx Resources Ltd stock, see the AU:DEV Stock Forecast page.
DevEx Resources Ltd has announced the appointment of Marnie Finlayson as a director, effective December 1, 2025. The announcement includes details of her interests in securities and performance rights, which are subject to shareholder approval. This appointment is expected to strengthen the company’s leadership team and potentially enhance its strategic direction in the mineral exploration sector.
The most recent analyst rating on (AU:DEV) stock is a Hold with a A$0.17 price target. To see the full list of analyst forecasts on DevEx Resources Ltd stock, see the AU:DEV Stock Forecast page.
DevEx Resources Ltd announced the issuance of 500,000 unquoted equity securities under an employee incentive scheme. This move is part of the company’s strategy to incentivize its workforce, potentially impacting its operational efficiency and aligning employee interests with company growth objectives.
The most recent analyst rating on (AU:DEV) stock is a Hold with a A$0.17 price target. To see the full list of analyst forecasts on DevEx Resources Ltd stock, see the AU:DEV Stock Forecast page.
DevEx Resources Limited announced that all resolutions proposed at its 2025 Annual General Meeting were successfully passed by shareholder vote. The resolutions included the re-election of a director, approval of a 10% placement facility, re-approval of the employee securities incentive plan, approval of potential termination benefits, and modification of the company’s constitution. This successful meeting outcome supports DevEx’s strategic initiatives and governance framework, potentially strengthening its position in the mining sector.
The most recent analyst rating on (AU:DEV) stock is a Hold with a A$0.17 price target. To see the full list of analyst forecasts on DevEx Resources Ltd stock, see the AU:DEV Stock Forecast page.
DevEx Resources Ltd is positioning itself for growth in the uranium sector, driven by a global resurgence in nuclear energy demand. The company is expanding its landholdings in the Alligator Rivers Uranium Province and advancing its Nabarlek Uranium Project with new drilling programs planned. Additionally, DevEx is strengthening its leadership team with the appointment of a new Managing Director and a new board member, aiming to enhance its exploration and development capabilities.
The most recent analyst rating on (AU:DEV) stock is a Hold with a A$0.17 price target. To see the full list of analyst forecasts on DevEx Resources Ltd stock, see the AU:DEV Stock Forecast page.
DevEx Resources Limited has appointed Matthew Yates, a seasoned mining executive with extensive experience in exploration and development, as a non-executive director. This strategic appointment is expected to bolster DevEx’s board with Yates’ expertise in mergers and acquisitions, capital raising, and company growth, aligning with the company’s new era of expansion and enhancing shareholder value.
DevEx Resources Ltd announced the cessation of 800,000 securities due to the expiry of options or other convertible securities without exercise or conversion. This announcement may impact the company’s capital structure and could influence investor perception regarding the company’s financial strategy and future growth prospects.
DevEx Resources Limited has announced significant advancements in the metallurgical processing of its Kennedy Rare Earths Deposit in Queensland. Recent column leach tests have shown promising results, with high recoveries of critical magnet rare earths and low acid consumption, suggesting a viable heap leach processing option. These findings enhance the potential for efficient extraction of valuable rare earth elements, positioning Kennedy favorably compared to other REE deposits in Australia. The results are expected to support further assessments and could have positive implications for stakeholders by improving operational efficiency and resource utilization.
DevEx Resources Ltd has entered into a binding agreement with Rio Tinto Exploration Pty Ltd to acquire nine uranium exploration licence applications in the Alligator Rivers Uranium Province, significantly expanding its exploration footprint. This acquisition aligns with DevEx’s growth strategy, allowing the company to apply its uranium targeting concepts and on-ground knowledge to fast-track exploration activities, enhancing its position in one of the world’s most endowed uranium provinces.
DevEx Resources Ltd has appointed Marnie Finlayson as its new Managing Director, effective December 1, 2025. Finlayson brings extensive experience from her tenure at Rio Tinto, where she played a significant role in developing global strategies, particularly in battery materials. Her leadership is expected to drive DevEx’s growth, focusing on advancing its uranium portfolio and unlocking the value of its rare earths project. The outgoing Managing Director, Todd Ross, is credited with repositioning the company and preparing it for future exploration phases.