DevEx Resources Ltd (AU:DEV)
ASX:DEV
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DevEx Resources Ltd
(Sydney:DEV)
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Rating:44Neutral
Price Target:
AU$0.16
▲(0.00% 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 debt-to-equity ratio of 0.01 indicates minimal financial leverage, reducing solvency risk and preserving optionality. Structurally, low leverage helps the company survive exploration cycles, maintain access to capital markets, and avoid debt-servicing constraints that could impede long-term project advancement.
Negative Factors
Revenue Decline
A steep revenue drop of ~53% signals material deterioration in top-line capacity to generate operating inflows. Over the medium term this reduces internal funding for exploration, increases dependency on external capital, and limits the company's ability to scale or advance projects without dilutive financings.
Read all positive and negative factors
Positive Factors
Negative Factors
Low Leverage
A debt-to-equity ratio of 0.01 indicates minimal financial leverage, reducing solvency risk and preserving optionality. Structurally, low leverage helps the company survive exploration cycles, maintain access to capital markets, and avoid debt-servicing constraints that could impede long-term project advancement.
Read all positive factors
DevEx Resources Ltd (DEV) vs. iShares MSCI Australia ETF (EWA)
Market Cap
AU$120.71M
Dividend YieldN/A
Average Volume (3M)1.76M
Price to Earnings (P/E)―
Beta (1Y)1.15
Revenue Growth-100.00%
EPS Growth19.53%
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
null...
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
Neutral
0.16
Price Trends
0.21
Negative
0.19
Negative
0.14
Positive
Market Momentum
-0.02
Positive
43.14
Neutral
28.79
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For AU:DEV, the sentiment is Neutral. The current price of 0.16 is below the 20-day moving average (MA) of 0.19, below the 50-day MA of 0.21, and above the 200-day MA of 0.14, indicating a neutral trend. The MACD of -0.02 indicates Positive momentum. The RSI at 43.14 is Neutral, neither overbought nor oversold. The STOCH value of 28.79 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Neutral 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 |
|---|---|---|---|---|---|---|---|
61 Neutral | $10.43B | 7.12 | -0.05% | 2.87% | 2.86% | -36.73% | |
47 Neutral | AU$79.23M | -19.53 | -29.72% | ― | ― | -4.13% | |
44 Neutral | AU$120.71M | -3.42 | -38.38% | ― | -100.00% | 19.53% | |
44 Neutral | AU$64.64M | -8.49 | -10.02% | ― | ― | -18.92% | |
44 Neutral | AU$96.74M | -3.89 | -36.51% | ― | -100.00% | -477.06% | |
42 Neutral | AU$31.02M | -15.92 | -6.83% | ― | ― | 71.63% | |
41 Neutral | AU$84.11M | -3.57 | -102.38% | ― | ― | -116.67% |
* Basic Materials Sector Average
AU:DEV
DevEx Resources Ltd
0.17
0.08
80.85%
AU:SRZ
Stellar Resources Limited
0.03
0.01
55.00%
AU:EMC
Everest Metals Corporation Limited
0.12
-0.04
-25.81%
AU:MTC
MetalsTech Ltd
0.30
0.19
168.18%
AU:CRS
Caprice Resources Ltd.
0.08
0.02
27.12%
AU:WR1
Winsome Resources Limited
0.40
0.17
75.56%
DevEx Resources Ltd Corporate Events
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...
DevEx Shareholders Back All Resolutions at 2026 General Meeting
Jan 22, 2026
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, ...
DevEx Highlights Uranium and Rare Earths Portfolio as Sector Rebounds
Jan 22, 2026
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 a...
DevEx Reshapes Leadership, Expands Uranium and Rare Earth Portfolio with Strong Capital Backing
Jan 21, 2026
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 serie...
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.
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