Equatorial Resources Limited (AU:EQX)
ASX:EQX
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Equatorial Resources Limited
(Sydney:EQX)
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Rating:42Neutral
Price Target:
AU$0.15
▼(-18.95% Downside)
Action:Upgraded
Date:06/13/26
The score is primarily constrained by weak financial performance—sustained losses and ongoing cash burn—despite the mitigating benefit of a debt-free balance sheet. Technicals are mildly negative with the stock below key longer-term moving averages, and valuation is not supportive given a negative P/E and no dividend yield data.
Positive Factors
Debt-free balance sheet
Zero debt materially lowers refinancing and interest-rate risk, giving management durable financial flexibility over the next 2–6 months. That solvency cushion supports survival through cash burn, enables opportunistic capital allocation or restructurings, and reduces solvency-driven downside versus leveraged peers.
Negative Factors
Sustained operating losses
Multi-year operating losses and sharply wider losses in the latest year signal persistent unprofitability that erodes shareholder value. Over months this limits the company's ability to self-fund growth, undermines margin recovery prospects, and increases reliance on external capital or severe cost cutting to achieve sustainability.
Read all positive and negative factors
Positive Factors
Negative Factors
Debt-free balance sheet
Zero debt materially lowers refinancing and interest-rate risk, giving management durable financial flexibility over the next 2–6 months. That solvency cushion supports survival through cash burn, enables opportunistic capital allocation or restructurings, and reduces solvency-driven downside versus leveraged peers.
Read all positive factors
Equatorial Resources Limited (EQX) vs. iShares MSCI Australia ETF (EWA)
Market Cap
AU$21.03M
Dividend YieldN/A
Average Volume (3M)300.28K
Price to Earnings (P/E)―
Beta (1Y)0.46
Revenue GrowthN/A
EPS Growth-200.55%
CountryAU
Employees15
SectorBasic Materials
Sector Strength58
IndustrySteel
Share Statistics
EPS (TTM)-0.03
Shares Outstanding131,445,360
10 Day Avg. Volume222,460
30 Day Avg. Volume300,278
Financial Highlights & Ratios
PEG Ratio-0.03
Price to Book (P/B)1.77
Price to Sales (P/S)34.54
P/FCF Ratio-4.68
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
Equatorial Resources Limited Business Overview & Revenue Model
Company Description
Equatorial Resources Limited, an Australian company established in 1986 and based in Perth, concentrates its efforts on the discovery and advancement of iron ore deposits located within the Republic of Congo....
Equatorial Resources Limited Financial Statement Overview
Summary
Income Statement
12
Very Negative
Balance Sheet
62
Positive
Cash Flow
18
Very Negative
| Breakdown | Jun 2025 | Jun 2024 | Jun 2023 | Jun 2022 | Jun 2021 |
|---|---|---|---|---|---|
Income Statement | |||||
| Total Revenue | 571.25K | 0.00 | 0.00 | 0.00 | 0.00 |
| Gross Profit | 571.25K | 0.00 | 0.00 | 0.00 | 0.00 |
| EBITDA | -696.85K | -726.00K | -1.77M | 138.68K | -1.48M |
| Net Income | -4.25M | -1.76M | -4.19M | -17.26M | -7.58M |
Balance Sheet | |||||
| Total Assets | 9.66M | 15.90M | 16.69M | 18.50M | 35.25M |
| Cash, Cash Equivalents and Short-Term Investments | 9.60M | 13.82M | 16.66M | 18.45M | 35.22M |
| Total Debt | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Total Liabilities | 190.21K | 1.85M | 2.49M | 297.11K | 163.45K |
| Stockholders Equity | 11.17M | 15.31M | 15.90M | 19.90M | 36.78M |
Cash Flow | |||||
| Free Cash Flow | -4.22M | -2.83M | -1.79M | -1.51M | -961.49K |
| Operating Cash Flow | -4.22M | -2.83M | -1.79M | -1.51M | -961.49K |
| Investing Cash Flow | 0.00 | -7.62K | 0.00 | 0.00 | -19.82M |
| Financing Cash Flow | 0.00 | -6.43K | 0.00 | 0.00 | 445.77K |
Equatorial Resources Limited Technical Analysis
Negative
0.19
Price Trends
0.17
Negative
0.18
Negative
0.19
Negative
Market Momentum
>-0.01
Negative
48.71
Neutral
60.00
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For AU:EQX, the sentiment is Negative. The current price of 0.19 is above the 20-day moving average (MA) of 0.16, above the 50-day MA of 0.17, and below the 200-day MA of 0.19, indicating a bearish trend. The MACD of >-0.01 indicates Negative momentum. The RSI at 48.71 is Neutral, neither overbought nor oversold. The STOCH value of 60.00 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for AU:EQX.
Equatorial Resources Limited 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% | |
55 Neutral | AU$12.48M | -0.13 | -111.00% | ― | ― | -1844.12% | |
45 Neutral | AU$31.57M | -49.87 | -1.31% | ― | ― | -103.03% | |
42 Neutral | AU$21.03M | -2.91 | -77.53% | ― | ― | -200.55% | |
41 Neutral | AU$36.61M | -3.92 | -123.74% | ― | ― | 82.81% |
* Basic Materials Sector Average
AU:EQX
Equatorial Resources Limited
0.16
0.03
23.08%
AU:IRD
Iron Road Ltd
0.02
-0.03
-65.91%
AU:GWR
GWR Group Limited
0.10
<0.01
6.59%
AU:M4M
Kogi Iron Ltd.
0.01
0.00
0.00%
Equatorial Resources Limited Corporate Events
Equatorial Resources Director Options Expire Without Impact on Shareholdings
Jun 10, 2026
Equatorial Resources has disclosed a change in director John Welborn’s interests, confirming the expiry of 4 million unlisted incentive options without any consideration. Following the expiry, Welborn retains his existing shareholdings held ...
Equatorial Resources Options and Performance Rights Expire Unexercised
Jun 10, 2026
Equatorial Resources Limited has notified the market of changes to its issued capital following the expiry of several equity-linked instruments. The company reported that 500,000 performance rights and a total of 4,000,000 listed options, with exe...
Equatorial Resources Advances Congo Arbitration as Cash Reserves Underpin Strategic Options
Apr 23, 2026
Equatorial Resources has completed the final procedural steps in its international arbitration against the Republic of Congo, lodging post-hearing submissions through its Mauritian subsidiary over alleged unlawful expropriation of the Badondo and ...
Equatorial Resources Advances Congo Arbitration, Changes Legal Counsel
Apr 7, 2026
Equatorial Resources has filed post-hearing submissions in its ongoing arbitration against the Republic of Congo at the International Centre for Settlement of Investment Disputes in Washington, D.C. The case concerns alleged unlawful measures affe...
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.