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Fenix Resources Limited
(Sydney:FEX)
Fenix Resources Limited (FEX) vs. iShares MSCI Australia ETF (EWA)
Fenix Resources Limited Business Overview & Revenue Model
Fenix Resources Limited Financial Statement Overview
| 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 Technical Analysis
Fenix Resources Limited Peers Comparison
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
78 Outperform | AU$277.76M | 6.19 | 4.28% | ― | -13.54% | -56.86% | |
63 Neutral | AU$319.36M | 34.97 | 6.50% | 2.13% | ― | -94.07% | |
62 Neutral | €312.88M | 23.60 | 3.14% | 2.17% | 21.95% | -84.84% | |
62 Neutral | AU$148.74M | 9.79 | 8.79% | ― | 15.32% | 10.05% | |
61 Neutral | $10.43B | 7.12 | -0.05% | 2.87% | 2.86% | -36.73% | |
51 Neutral | AU$372.68M | -17.35 | -53.29% | ― | ― | ― |
Fenix Resources Limited Corporate Events
Fenix Resources reported record first-half FY26 production, shipping 2.1 million tonnes of iron ore, more than double the prior corresponding period, as its transition to a multi-mine producer gained traction. Revenue rose to A$294.2 million, EBITDA surged 137% to A$48.6 million and NPAT jumped to A$9.7 million, underpinned by improved volumes, lower C1 cash costs of A$75.3/wmt and strong operating cash flow of A$56.0 million.
The company strengthened its balance sheet to A$78.6 million in cash, bolstered its hedge book with significant volume and currency protection through to June 2027, and reaffirmed upgraded FY26 sales guidance of 4.2–4.8Mt at competitive FOB cash costs. A 30‑year Right to Mine agreement over the 290Mt Weld Range project with steel giant Baowu and a three-year growth plan targeting up to 6Mtpa by 2028, with a pathway to ~10Mtpa and mine life to 2042, signal a strategic shift to larger-scale, longer-life operations that could enhance Fenix’s industry positioning and long-term shareholder returns.
The most recent analyst rating on (AU:FEX) stock is a Hold with a A$0.40 price target. To see the full list of analyst forecasts on Fenix Resources Limited stock, see the AU:FEX Stock Forecast page.
Fenix Resources Limited has released a corporate document outlining its board composition, executive roles, company secretary, auditors, share registry, bankers and stock exchange listing details. The report primarily serves as a formal corporate directory and table of contents for its condensed consolidated financial statements and related governance reports, rather than providing new operational or financial performance updates.
While the document does not disclose fresh strategic or market information, it reinforces the company’s established governance framework and regulatory compliance through audited financial reporting. This level of corporate transparency is important for shareholders and market participants, signalling adherence to ASX requirements and the presence of independent oversight in its financial and corporate affairs.
The most recent analyst rating on (AU:FEX) stock is a Hold with a A$0.40 price target. To see the full list of analyst forecasts on Fenix Resources Limited stock, see the AU:FEX Stock Forecast page.
Fenix Resources Ltd reported a sharp turnaround in its half-year results to 31 December 2025, with revenue from continuing operations jumping 125% to $294.2 million compared with the prior corresponding period. Net profit attributable to owners surged 419% to $9.7 million, reflecting significantly improved operating performance and stronger market conditions.
The miner’s net tangible assets rose to $158.0 million, with net tangible assets per share edging up to $0.21 from $0.20 a year earlier, underscoring a modest strengthening of its balance sheet. The board reaffirmed its existing dividend policy, stressing its commitment to maintaining a robust financial position and rewarding shareholders when full-year profitability and funding needs allow, while confirming there were no changes in group control during the period.
The most recent analyst rating on (AU:FEX) stock is a Hold with a A$0.40 price target. To see the full list of analyst forecasts on Fenix Resources Limited stock, see the AU:FEX Stock Forecast page.
Fenix Resources used its presentation at the Bell Potter Unearthed Virtual Conference to outline a growth trajectory targeting annual iron ore production of 6 million tonnes by fiscal 2028 and aiming for 10 million tonnes beyond that. The company’s expansion strategy is underpinned by previously disclosed mineral resource and ore reserve estimates at Iron Ridge, Shine, Beebyn-W11 and the 290-million-tonne Weld Range project, with management reaffirming that the assumptions supporting those estimates and its three-year production plan remain unchanged.
The update signals Fenix’s intention to scale from a small producer to a significant Western Australian iron ore player, leveraging existing port and logistics assets in the Mid-West to grow volumes and potentially improve unit economics. By confirming the validity of prior resource, reserve and scoping-study work, the company aims to give investors greater confidence in the durability of its mine plans and production targets, reinforcing its long-term growth narrative in a competitive seaborne iron ore market.
The most recent analyst rating on (AU:FEX) stock is a Hold with a A$0.40 price target. To see the full list of analyst forecasts on Fenix Resources Limited stock, see the AU:FEX Stock Forecast page.
Fenix Resources reported a record December 2025 quarter with 1.24 million wet metric tonnes of iron ore shipped, a 40% increase on the prior quarter, while maintaining group C1 cash costs at A$75/wmt and lifting cash on hand to A$78.9 million. With Beebyn‑W11 now at steady-state production, updated FY26 guidance of 4.2–4.8 million tonnes at A$70–80/wmt, a three‑year plan to ramp up to 6 million tonnes per annum by 2028, and a Weld Range scoping study outlining a pathway to about 10 million tonnes per annum and mine life to 2042, the company signalled a step-change in long-term growth aspirations and reinforced its positioning as a scaling mid-tier iron ore producer.
The most recent analyst rating on (AU:FEX) stock is a Hold with a A$0.49 price target. To see the full list of analyst forecasts on Fenix Resources Limited stock, see the AU:FEX Stock Forecast page.
Fenix Resources has extended its price protection strategy to June 2027 by hedging 1.32 million tonnes of iron ore at an average A$151.27 per tonne and adding US$105 million of Australian dollar call options to manage currency risk on US dollar–denominated sales. The expanded hedge and currency book are designed to lock in robust cash margins against a FY26 production target of 4.2–4.8 million tonnes at C1 costs of A$70–A$80/wmt, while preserving upside exposure to stronger iron ore prices and a weaker Australian dollar, thereby underpinning the company’s three-year plan to produce 15 million tonnes through FY28 and supporting the long-term growth case centered on the Weld Range expansion.
The most recent analyst rating on (AU:FEX) stock is a Hold with a A$0.49 price target. To see the full list of analyst forecasts on Fenix Resources Limited stock, see the AU:FEX Stock Forecast page.
Fenix Resources has expanded its iron ore hedge book to 840,000 tonnes at an average price of A$151.09 per tonne through to December 2026, locking in a positive cashflow margin on a base level of production while preserving upside exposure to spot prices. The move follows quarterly shipments of more than 1.24 million tonnes, consistent with upgraded FY26 sales guidance of 4.2–4.8 million tonnes at C1 cash costs of A$70–A$80 per wet metric tonne FOB Geraldton, and aligns with a three-year plan targeting 15 million tonnes of output to FY28 and potential expansion to 6Mtpa. Together with the Weld Range Scoping Study, which points to a possible long-life, high-margin project and a 10Mtpa operation with significantly lower unit costs, the strengthened hedge position underpins Fenix’s growth and de-risking strategy as it advances a Definitive Feasibility Study on Weld Range and consolidates its position as a cost-competitive Mid-West iron ore producer.
The most recent analyst rating on (AU:FEX) stock is a Hold with a A$0.53 price target. To see the full list of analyst forecasts on Fenix Resources Limited stock, see the AU:FEX Stock Forecast page.
Fenix Resources reported a record December 2025 quarter, shipping 1.24 million wet metric tonnes of iron ore across 21 vessels, marking its first quarter above one million tonnes and an implied annualised run-rate of about 4.9 million tonnes. The operational outperformance, driven by optimised Mid-West mining operations and efficient Newhaul haulage and port logistics, underpinned a strong financial result, with cash at bank rising by A$21.2 million to A$78.9 million even after capital expenditure, debt repayments and tax. With first-half FY26 shipments reaching 2.13 million tonnes, the company has reaffirmed its upgraded FY26 sales guidance of 4.2–4.8 million tonnes, reinforcing its growth trajectory and strengthening its position as a scalable mid-tier iron ore exporter.
The most recent analyst rating on (AU:FEX) stock is a Hold with a A$0.53 price target. To see the full list of analyst forecasts on Fenix Resources Limited stock, see the AU:FEX Stock Forecast page.
Fenix Resources has disclosed that director John Paul Welborn increased his direct holding in the company by acquiring 250,000 fully paid ordinary shares via on‑market trades on 29 and 30 December 2025 for a total consideration of $119,750. Following the transaction, Welborn’s stake rose to 22.75 million shares while his 45 million performance rights remained unchanged, signalling continued personal financial commitment to the company and providing transparency for investors regarding board-level ownership changes.
The most recent analyst rating on (AU:FEX) stock is a Hold with a A$0.53 price target. To see the full list of analyst forecasts on Fenix Resources Limited stock, see the AU:FEX Stock Forecast page.
Fenix Resources has released a scoping study outlining a proposed expansion of its Weld Range Iron Ore Project, targeting a production increase from 6 million tonnes per annum in 2028 to about 10 million tonnes per annum by 2031, extending operations to 2042. The study indicates a substantial reduction in life-of-mine C1 cash costs to about A$55.4 per wet metric tonne FOB Geraldton, a pre-tax NPV of roughly A$1.2 billion, pre-tax IRR of about 60%, and cumulative pre-tax free cash flow of approximately A$2.5 billion, supported by a new 244km private haul road to improve logistics and margins, with most of the development capital not required until 2028 and further optimisation to be refined in a definitive feasibility study ahead of a final investment decision.
The most recent analyst rating on (AU:FEX) stock is a Hold with a A$0.53 price target. To see the full list of analyst forecasts on Fenix Resources Limited stock, see the AU:FEX Stock Forecast page.
Fenix Resources Limited has announced a three-year production plan aimed at significantly increasing its iron ore output to 6 million tonnes per annum by 2028. This plan involves completing mining at the Iron Ridge and Shine sites and ramping up production at the Weld Range Project, specifically the Beebyn Hub. The company has upgraded its FY26 guidance to 4.2-4.8 million tonnes, with a focus on maintaining high-grade iron ore production and leveraging existing infrastructure. The plan is expected to be funded through operational cash flow and existing finance facilities, positioning Fenix for future growth and expansion in partnership with Sinosteel Midwest Corporation.
The most recent analyst rating on (AU:FEX) stock is a Hold with a A$0.50 price target. To see the full list of analyst forecasts on Fenix Resources Limited stock, see the AU:FEX Stock Forecast page.
Fenix Resources Limited announced the issuance of 500,000 performance rights under an employee incentive scheme, which are not intended to be quoted on the ASX. This move is part of the company’s strategy to incentivize its workforce, potentially impacting its operational efficiency and aligning employee interests with company goals.
The most recent analyst rating on (AU:FEX) stock is a Hold with a A$0.50 price target. To see the full list of analyst forecasts on Fenix Resources Limited stock, see the AU:FEX Stock Forecast page.
Fenix Resources Ltd announced the successful outcomes of its Annual General Meeting, where key resolutions, including the adoption of the Remuneration Report and the re-election of Director Craig Mitchell, were passed. These resolutions reflect the company’s ongoing commitment to strong governance and leadership as it continues to expand its operations in the iron ore industry, supported by strategic partnerships and a focus on community engagement.
The most recent analyst rating on (AU:FEX) stock is a Hold with a A$0.50 price target. To see the full list of analyst forecasts on Fenix Resources Limited stock, see the AU:FEX Stock Forecast page.