Evolution Mining (EVN) AI Stock Analysis

• Market Cap: $24.59B
• Dividend Yield: 1.65%
• Average Volume (3M): 6.18M
• Price to Earnings (P/E): 26.0
• Beta (1Y): 1.15
• Revenue Growth: 35.31%
• EPS Growth: 115.08%
• Country: AU
• Employees: 2,000
• Sector: Basic Materials
• Sector Strength: 58
• Industry: Gold
• EPS (TTM): 0.29
• Shares Outstanding: 2,030,621,300
• 10 Day Avg. Volume: 6,253,044
• 30 Day Avg. Volume: 6,178,526
• PEG Ratio: 0.15
• Price to Book (P/B): 3.14
• Price to Sales (P/S): 3.57
• P/FCF Ratio: 19.67
• Enterprise Value/Market Cap: 0.67
• Enterprise Value/Revenue: 3.81
• Enterprise Value/Gross Profit: 10.63
• Enterprise Value/Ebitda: 7.71
• 1Y Price Target: $10.47
• Price Target Upside: -17.32% Downside
• Rating Consensus: Moderate Sell
• Number of Analyst Covering: 13
• EPS Forecast (FY): N/A
• Revenue Forecast (FY): N/A

• Rating: 77 Outperform
• Price Target: AU$12.00 ▼(-5.21% Downside)

Evolution Mining's strong financial performance and positive earnings call sentiment are the primary drivers of its stock score. The technical analysis suggests bullish momentum, although overbought signals could indicate a short-term correction. The valuation appears stretched, which slightly tempers the overall score.

Positive Factors

Revenue Growth

Consistent revenue growth indicates a strong market position and operational efficiency, supporting long-term business sustainability and shareholder value.

Cash Flow Generation

Strong cash flow generation enhances financial flexibility, allowing the company to invest in growth opportunities and manage debt effectively.

Exploration Success

Significant exploration success expands the resource base, which is crucial for sustaining production levels and future growth.

Negative Factors

Rising Costs

Increasing costs due to inflation and noncash components can pressure margins and affect profitability, challenging cost management strategies.

Operational Challenges

Operational challenges related to stockpile usage can lead to increased costs and operational inefficiencies, potentially impacting production targets.

Reserve Grade Decline

A decline in reserve grades can reduce future production quality and volume, affecting long-term resource sustainability and profitability.

Evolution Mining Business Overview & Revenue Model

Company Description

Evolution Mining Limited (ASX: EVN) is a leading, growth-focused Australian gold mining company, with a portfolio of high-quality, low-cost gold assets. The company operates several mines across Australia, including the Cowal, Mungari, and Red Lake operations, and is committed to sustainable mining practices. Evolution Mining aims to create shareholder value by maximizing production and optimizing its asset base while maintaining a focus on safety and environmental stewardship.

How the Company Makes Money

Evolution Mining generates revenue primarily through the extraction and sale of gold. The company operates mines that produce gold, which is sold in the form of bullion and through contracts with various buyers, including refiners and jewelers. Key revenue streams include the sale of gold at market prices, which can fluctuate based on global demand and market conditions. Additionally, Evolution Mining may benefit from hedging activities that lock in prices for a portion of its production, providing some revenue stability. The company's strategic partnerships with other mining entities and suppliers also contribute to its operational efficiency and cost management, further enhancing its profitability.

Evolution Mining Financial Statement Overview

Summary

Evolution Mining exhibits strong financial health with impressive revenue and profit growth, efficient operations, and solid cash flow generation. The company maintains a balanced approach to leverage, enhancing its financial stability.

Income Statement

Evolution Mining has demonstrated strong revenue growth with an 11.33% increase in the latest year, supported by robust gross and net profit margins of 35.83% and 21.28%, respectively. The EBIT and EBITDA margins are also healthy at 32.91% and 49.42%, indicating efficient operations. The consistent upward trajectory in revenue and profitability metrics highlights the company's strong market position and operational efficiency.

Balance Sheet

The company's balance sheet is stable with a manageable debt-to-equity ratio of 0.36, showing a decrease from previous years, which indicates improved financial leverage. The return on equity is strong at 18.68%, reflecting effective use of equity to generate profits. However, the equity ratio of 51.44% suggests a balanced approach to financing with both debt and equity.

Cash Flow

Evolution Mining's cash flow is strong, with a significant 31.91% growth in free cash flow, indicating improved cash generation capabilities. The operating cash flow to net income ratio of 2.07 suggests efficient conversion of income into cash. The free cash flow to net income ratio of 0.40 indicates a solid ability to generate cash relative to net income, supporting future investments and debt repayments.

Breakdown	TTM	Dec 2025	Dec 2024	Dec 2023	Dec 2022	Dec 2021
Income Statement
Total Revenue	4.35B	4.35B	3.22B	2.23B	2.06B	1.86B
Gross Profit	1.56B	1.56B	923.26M	416.20M	486.60M	575.21M
EBITDA	2.15B	2.15B	1.43B	847.36M	934.85M	899.87M
Net Income	926.17M	926.17M	422.27M	163.51M	323.32M	345.26M
Balance Sheet
Total Assets	9.64B	9.64B	8.82B	6.75B	6.63B	3.96B
Cash, Cash Equivalents and Short-Term Investments	759.63M	759.63M	403.30M	46.15M	572.43M	160.06M
Total Debt	1.79B	1.79B	2.02B	1.82B	1.86B	636.33M
Total Liabilities	4.68B	4.68B	4.68B	3.46B	3.38B	1.42B
Stockholders Equity	4.96B	4.96B	4.14B	3.29B	3.25B	2.53B
Cash Flow
Free Cash Flow	790.20M	790.20M	363.16M	-103.39M	107.58M	319.69M
Operating Cash Flow	1.97B	1.97B	1.28B	735.28M	776.68M	757.01M
Investing Cash Flow	-1.19B	-1.19B	-1.51B	-1.03B	-1.83B	-724.12M
Financing Cash Flow	-435.81M	-435.81M	586.65M	-226.28M	1.47B	-244.79M

Evolution Mining Technical Analysis

• Technical Analysis Sentiment: Positive
• Last Price: 12.66
• 50DMA: Positive
• 100DMA: Positive
• 200DMA: Positive
• MACD: Negative
• RSI: Neutral
• STOCH: Neutral

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For AU:EVN, the sentiment is Positive. The current price of 12.66 is above the 20-day moving average (MA) of 11.85, above the 50-day MA of 11.33, and above the 200-day MA of 8.90, indicating a bullish trend. The MACD of 0.35 indicates Negative momentum. The RSI at 61.85 is Neutral, neither overbought nor oversold. The STOCH value of 63.80 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for AU:EVN.

Evolution Mining Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
GOR	79 Outperform	―	―	16.83%	24.12%	46.42%	99.69%
PRU	79 Outperform	C$7.28B	12.92	21.17%	1.39%	23.35%	15.96%
RRL	78 Outperform	AU$5.51B	21.59	16.68%	0.69%	30.46%	―
EVN	77 Outperform	$24.59B	26.04	19.86%	1.65%	35.31%	115.08%
NST	76 Outperform	AU$37.38B	23.21	11.04%	2.10%	30.35%	102.55%
GMD	76 Outperform	AU$7.37B	35.05	19.70%	―	109.79%	158.18%
Sector *	61 Neutral	$10.43B	7.12	-0.05%	2.87%	2.86%	-36.73%

Evolution Mining Corporate Events

Evolution Mining Announces Director’s Interest Change

Evolution Mining Limited has announced a change in the director’s interest, specifically regarding Andrea Hall’s holdings. The update reveals an acquisition of 15,352 Fully Paid Ordinary Shares and 8,662 Share Rights, increasing the total holdings to 138,906 shares and 8,662 Share Rights. This change reflects the vesting of Share Rights under the NED Equity Plan, indicating a strategic move to align director interests with company performance, potentially impacting stakeholder confidence positively.

Evolution Mining Issues New Securities Under Employee Incentive Scheme

Evolution Mining Limited has announced the issuance of 95,655 ordinary fully paid securities under an employee incentive scheme, which will be quoted on the ASX. This move is part of the company’s ongoing efforts to enhance employee engagement and align their interests with the company’s growth objectives, potentially impacting its operational dynamics and market positioning.

Evolution Mining Issues New Share Rights Under Employee Incentive Scheme

Evolution Mining Limited announced the issuance of 53,971 share rights under an employee incentive scheme. These securities are unquoted and subject to transfer restrictions until the end of the restriction period, reflecting the company’s commitment to employee engagement and retention through equity incentives.

Evolution Mining Announces Director’s Interest Change

Evolution Mining Limited has announced a change in the director’s interest, specifically regarding Lawrie Conway’s holdings. The company issued 557,377 performance rights to Mr. Conway under the Evolution Employee Share Option and Performance Rights Plan, which was approved by shareholders. This move reflects the company’s ongoing efforts to align management incentives with shareholder interests and may impact the company’s operational strategies and stakeholder relations.

Evolution Mining Issues Unquoted Equity Securities Under Employee Incentive Scheme

Evolution Mining Limited announced the issuance of 557,377 unquoted equity securities under an employee incentive scheme. These securities, categorized as performance rights, are subject to transfer restrictions and are not quoted on the ASX until these restrictions are lifted. This move is part of the company’s strategy to align employee interests with corporate goals, potentially impacting its operational efficiency and stakeholder engagement.

Evolution Mining Reports Record Year and Strategic Initiatives

Evolution Mining’s recent annual general meeting highlighted a successful year, marked by improved safety performance and record dividends, totaling $400 million. The company is well-positioned for future growth, benefiting from high commodity prices and a strong portfolio. Evolution Mining also announced a partnership with the University of Queensland to establish a fellowship aimed at enhancing mining safety and sustainability. Additionally, the company is transitioning the Mt Rawdon site into a pumped hydro power station, reflecting its commitment to innovation and renewable energy.

Evolution Mining Releases FY25 Corporate Governance Statement

Evolution Mining Limited has released its corporate governance statement for the financial year ending June 30, 2025, which is available on their website. The statement, approved by the Board of Directors, outlines the company’s adherence to the ASX Corporate Governance Council’s principles and recommendations, reflecting its commitment to solid management foundations and transparency. This announcement reinforces Evolution Mining’s dedication to best practices in governance, potentially enhancing its reputation and trust among stakeholders.

Evolution Mining Releases 2025 Annual Report Highlighting Operational Success

Evolution Mining has released its Annual Report for 2025, highlighting its financial and operational performance. The report includes non-IFRS financial information, which provides insights into the company’s financial health and operational costs. The company was recognized with a Gold Award for its FY24 Annual Report and a Silver Award for its Sustainability Report, indicating strong reporting standards. The completion of the mill expansion at the Mungari Operations ahead of schedule and under budget reflects Evolution’s operational efficiency, potentially strengthening its position in the gold mining industry.

Evolution Mining Announces 2025 AGM and Key Resolutions

Evolution Mining Limited has announced its 2025 Annual General Meeting, scheduled for November 20, 2025, in Sydney. The meeting will cover the company’s performance over the past financial year and provide updates on its strategic goals. Shareholders will vote on several key resolutions, including the adoption of the FY25 Remuneration Report, re-election of directors, and approval of performance rights for the CEO. The board recommends voting in favor of all resolutions.

Evolution Mining Reports Record Cash Flow and Strategic Progress in September Quarter

Evolution Mining has reported a strong quarter with record net mine cash flow of $366 million and significant operating mine cash flow of $676 million, aligning with its FY26 cashflow guidance. The company is on track to meet its production and cost targets with a sector-leading all-in sustaining cost (AISC) of $1,724/oz. Evolution Mining has successfully reduced its gearing to 11% by repaying all bank term loans, with no debt repayments due until FY29, and increased its cash balance to $780 million. The Mungari mill project is nearing commercial production, and the Cowal Open Pit Continuation project is progressing as planned, positioning the company well to achieve its strategic and financial objectives for FY26.

Evolution Mining Announces Cessation of Performance Rights

Evolution Mining Limited announced the cessation of 488,970 performance rights due to the failure to meet certain conditions by the specified date. This development may impact the company’s capital structure and could have implications for stakeholders, reflecting on the company’s operational adjustments and strategic focus.

Evolution Mining Issues New Performance Rights to Employees

Evolution Mining Limited announced the issuance of 6,842,309 performance rights under its employee incentive scheme, which are not immediately tradable on the ASX due to transfer restrictions. This move is part of the company’s strategy to incentivize employees and align their interests with the company’s long-term growth objectives.

Evolution Mining to Release September Quarter Results with Conference Call

Evolution Mining has announced that its quarterly report for the period ending 30 September 2025 will be released on 15 October 2025, followed by a conference call hosted by key executives. The call will be accessible via a live audio stream on the company’s website, and analysts and media will have the opportunity to participate in a Q&A session. This announcement reflects Evolution’s commitment to transparency and engagement with its stakeholders.

Evolution Mining Updates Denver Gold Forum Presentation

Evolution Mining Limited announced a correction to its Denver Gold Forum presentation, specifically updating incorrect data labels on cash flow and AISC sensitivity charts. This correction does not affect other details of the presentation, and the update has been approved by the company’s chair, Jake Klein.

Evolution Mining’s Strategic Vision at Denver Gold Forum

Evolution Mining Limited has released a presentation at the Denver Gold Forum, emphasizing its strategic vision to become a leading global gold company. The release highlights the company’s focus on financial performance metrics and the inherent risks associated with forward-looking statements, cautioning stakeholders about potential uncertainties in future operations.

Evolution Mining Schedules 2025 Annual General Meeting

Evolution Mining Limited has announced that its Annual General Meeting will be held on November 20, 2025. The company has set a deadline for director nominations on September 19, 2025. This announcement is part of the company’s ongoing governance and operational planning, reflecting its commitment to transparency and stakeholder engagement.

Evolution Mining Announces Dividend Reinvestment Plan Outcome

Evolution Mining announced the outcome of its Dividend Reinvestment Plan (DRP) for the fiscal year ending June 30, 2025. The DRP price was set at $8.7298 per share, with a 55.65% shareholder participation rate, resulting in the issuance of 16,689,390 new shares. This initiative reflects Evolution’s commitment to providing value to its shareholders while maintaining a strong financial position.

Evolution Mining Confirms Dividend Reinvestment Plan Price

Evolution Mining Limited has announced an update regarding its dividend distribution, confirming the Dividend Reinvestment Plan (DRP) price. This update pertains to the dividend distribution for the six-month period ending on June 30, 2025, with the record date set for September 4, 2025. This announcement may impact shareholders and investors as it provides clarity on the financial returns expected from their investments.

Citigroup Ceases Substantial Holding in Evolution Mining

Citigroup Global Markets Australia Pty Limited and its related entities have ceased to be substantial holders in Evolution Mining as of September 5, 2025. This change reflects a significant decrease in their relevant interest in Evolution Mining’s voting securities, which may impact the company’s shareholder composition and market perception.

JPMorgan Chase Ceases Substantial Holding in Evolution Mining

JPMorgan Chase & Co. and its affiliates have ceased to be substantial holders in Evolution Mining Ltd, a company involved in the mining industry. The change in their holding status is due to various transactions involving securities lending and proprietary trading activities. This development may impact the company’s shareholder structure and could influence its market positioning and stakeholder relationships.