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Fenix Resources Limited
(Sydney:FEX)
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Rating:61Neutral
Price Target:
AU$0.29
▼(-13.64% Downside)
Action:Reiterated
Date:03/19/26
Financial pressures from eroding profitability, weak cash flow, and rising leverage dominate, partially mitigated by compelling low P/E valuation and high dividend yield; oversold technicals suggest rebound potential but downtrend persists.
Positive Factors
Revenue Growth
Sustained ~20% revenue growth indicates rising production or sales volumes, which supports fixed-cost absorption and operating leverage. Over a multi-month horizon, higher volumes can enable reinvestment in plants or logistics, improving unit economics if costs are controlled and volumes remain stable.
Negative Factors
Margin deterioration
A collapse in net margin to ~1.7% sharply reduces the earnings buffer against commodity price or cost volatility. Persistently thin margins impair the firm's ability to self-fund capital expenditure, dividends or restoration of working capital, raising execution risk in a capital-intensive mining business.
Read all positive and negative factors
Positive Factors
Negative Factors
Revenue Growth
Sustained ~20% revenue growth indicates rising production or sales volumes, which supports fixed-cost absorption and operating leverage. Over a multi-month horizon, higher volumes can enable reinvestment in plants or logistics, improving unit economics if costs are controlled and volumes remain stable.
Read all positive factors
Fenix Resources Limited (FEX) vs. iShares MSCI Australia ETF (EWA)
Market Cap
AU$208.08M
Dividend Yield3.7%
Average Volume (3M)2.14M
Price to Earnings (P/E)15.2
Beta (1Y)1.32
Revenue Growth82.08%
EPS Growth-7.77%
CountryAU
EmployeesN/A
SectorBasic Materials
Sector Strength58
IndustryIndustrial Materials
Share Statistics
EPS (TTM)0.02
Shares Outstanding770,684,800
10 Day Avg. Volume1,560,876
30 Day Avg. Volume2,139,561
Financial Highlights & Ratios
PEG Ratio-0.45
Price to Book (P/B)1.15
Price to Sales (P/S)0.64
P/FCF Ratio27.06
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price Target
AU$0.54Price Target Upside63.64% Upside
Rating ConsensusModerate Buy
Number of Analyst Covering1
EPS Forecast (FY)0.02
Revenue Forecast (FY)AU$698.50M
Fenix Resources Limited Business Overview & Revenue Model
Company Description
Fenix Resources Limited is primarily engaged in the exploration, development, and extraction of mineral deposits throughout Western Australia. The company's operations are structured into two distinct divisions: the Iron Ridge Project and a Trucki...
How the Company Makes Money
Fenix Resources makes money primarily by selling iron ore to customers under offtake or spot sales arrangements, with revenue largely determined by: (1) shipped and delivered tonnes (sales volume), and (2) the realised iron ore price (linked to gl...
Fenix Resources Limited Financial Statement Overview
Summary
Income Statement
60
Neutral
Balance Sheet
68
Positive
Cash Flow
43
Neutral
| Breakdown | TTM | Jun 2025 | Jun 2024 | Jun 2023 | Jun 2022 | Jun 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 479.31M | 316.09M | 259.20M | 196.85M | 249.17M | 114.38M |
| Gross Profit | 45.65M | 72.61M | 59.83M | 38.48M | 66.97M | 62.81M |
| EBITDA | 84.06M | 56.89M | 74.84M | 55.21M | 75.85M | 63.88M |
| Net Income | 13.24M | 5.39M | 33.64M | 29.25M | 50.69M | 49.04M |
Balance Sheet | ||||||
| Total Assets | 456.08M | 364.47M | 266.78M | 188.54M | 152.39M | 116.59M |
| Cash, Cash Equivalents and Short-Term Investments | 79.41M | 57.82M | 77.35M | 76.37M | 101.93M | 69.00M |
| Total Debt | 105.55M | 82.92M | 41.92M | 21.37M | 374.03K | 2.01M |
| Total Liabilities | 274.85M | 186.70M | 100.44M | 63.70M | 44.16M | 39.33M |
| Stockholders Equity | 181.24M | 177.77M | 166.34M | 124.84M | 108.22M | 77.26M |
Cash Flow | ||||||
| Free Cash Flow | 54.44M | 7.53M | 42.24M | 12.18M | 55.38M | 50.43M |
| Operating Cash Flow | 114.97M | 71.88M | 68.49M | 16.28M | 62.29M | 65.30M |
| Investing Cash Flow | -80.87M | -64.20M | -40.14M | -13.75M | -5.44M | -17.47M |
| Financing Cash Flow | -9.71M | -27.89M | -26.95M | -28.24M | -24.03M | 20.02M |
Fenix Resources Limited Peers Comparison
UnderperformOutperform
Sector (61)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
65 Neutral | AU$294.81M | 17.95 | 17.97% | 3.85% | ― | -89.84% | |
61 Neutral | $10.43B | 7.12 | -0.05% | 2.87% | 2.86% | -36.73% | |
61 Neutral | AU$208.08M | 15.17 | 7.38% | 2.17% | 82.08% | -7.77% | |
59 Neutral | AU$49.59M | -87.73 | -2.00% | ― | 104.42% | ― | |
48 Neutral | AU$354.22M | -11.46 | -63.51% | ― | ― | 12.13% | |
42 Neutral | AU$20.07M | -0.24 | -158.13% | ― | ― | -777.65% |
* Basic Materials Sector Average
AU:FEX
Fenix Resources Limited
0.28
-0.03
-8.64%
AU:IMA
Image Resources NL
0.02
-0.06
-75.00%
AU:RHI
Red Hill Iron Limited
4.60
1.34
41.15%
AU:LCY
Legacy Iron Ore Ltd
0.01
0.00
0.00%
AU:SVM
Sovereign Metals Limited
0.51
-0.22
-30.14%
Fenix Resources Limited Corporate Events
Fenix Resources Reaffirms Iron Ore Growth Plans and Resource Base
Jul 21, 2026
Fenix Resources has outlined its production growth ambitions and reaffirmed the robustness of its resource base in materials released ahead of the Noosa Mining Investor Conference. The company is targeting a ramp-up to 6 million tonnes per annum o...
Fenix Resources Updates Director’s Equity Following Incentive Vesting
Jul 15, 2026
Fenix Resources has reported a change in the shareholdings of director John Paul Welborn following the conversion of vested performance rights into ordinary shares and the cancellation of lapsed performance rights. The director’s holdings ha...
Fenix Resources Confirms Lapse of Over 11 Million Performance Rights
Jul 15, 2026
Fenix Resources has reported the lapse of 11,185,614 performance rights, following confirmation that the conditions attached to these rights were not met or are no longer capable of being satisfied as of July 15, 2026. The cessation of these secur...
Fenix Resources Seeks ASX Quotation for 5 Million New Shares
Jul 15, 2026
Fenix Resources has applied to the ASX for quotation of 5,051,817 new ordinary fully paid shares, effective July 15, 2026. The securities arise from the exercise or conversion of existing options or other convertible instruments, modestly expandin...
Fenix Resources Issues Shares After Performance Rights Vesting
Jul 15, 2026
Fenix Resources has confirmed the vesting and exercise of 5,051,817 performance rights under its Employee Incentive Plan, resulting in the issue of an equal number of fully paid ordinary shares. The bulk of these rights were tied to total sharehol...
Fenix Resources Lists Additional 670,000 Shares on ASX
Jul 3, 2026
Fenix Resources Ltd has applied to the ASX for quotation of 670,000 new ordinary fully paid shares, to be issued on 3 July 2026, following the exercise or conversion of existing options or other convertible securities. The additional listing modes...
Fenix Resources Discloses Director’s Internal Share Transfer With No Change in Total Interest
Jun 26, 2026
Fenix Resources has reported an internal reallocation of shares held by non-executive director Garry Plowright, detailing an off-market transfer from his personal holding to his superannuation fund. The company stressed that this administrative ch...
Fenix Resources Appoints Jennifer Morris OAM to Board
Jun 22, 2026
Fenix Resources has appointed Jennifer (Jenn) Morris OAM as a director, effective 23 June 2026, strengthening its board with a high-profile governance figure. The initial director’s interest notice lodged with the ASX confirms that Morris cu...
Fenix Resources Appoints New Director With No Initial Equity Stake
Jun 22, 2026
Fenix Resources has appointed Michael Gollschewski as a director, effective 23 June 2026. The newly appointed director currently holds no relevant interests in the company’s securities and has no disclosed interests in related contracts, ind...
Fenix bolsters board with iron ore veterans as growth plans accelerate
Jun 22, 2026
Fenix Resources has strengthened its board by appointing experienced industry figures Jennifer Morris and Michael Gollschewski as independent non-executive directors, effective immediately. The company says the additions enhance the board’s ...
Fenix Resources Secures Long-Term Funding and Freight Deal to Cut Iron Ore Shipping Costs
Jun 21, 2026
Fenix Resources has formed the Fenix-Mira Bulk freight partnership with Singapore-based Mira Bulk, a global operator of Panamax and Capesize vessels, to secure preferential vessel access and lower per-tonne shipping costs for its iron ore exports....
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.