Genesis Minerals Limited (AU:GMD)
ASX:GMD
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Genesis Minerals Limited
(Sydney:GMD)
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Rating:78Outperform
Price Target:
AU$7.00
▲(6.38% Upside)
Action:Reiterated
Date:06/12/26
Score is driven primarily by strong financial performance (profitability and cash generation) and a positive earnings update with maintained guidance and a strengthened balance sheet. This is partly offset by weak technicals (price below key moving averages and negative MACD) and only moderately supportive valuation (P/E reasonable, no dividend data).
Positive Factors
Cash generation efficiency
Exceptionally strong cash conversion and a near eightfold free cash flow increase indicate durable internal funding capacity. Over the next 2–6 months this supports capex, project funding and debt flexibility, reducing reliance on external financing for growth and smoothing execution risk.
Negative Factors
Higher near-term growth capital
Bringing forward materially higher capex increases near-term cash outflows and capital intensity, which can temper free cash flow despite strong liquidity. Execution and procurement timing over the next 2–6 months will determine whether cash buffers or returns are meaningfully impacted.
Read all positive and negative factors
Positive Factors
Negative Factors
Cash generation efficiency
Exceptionally strong cash conversion and a near eightfold free cash flow increase indicate durable internal funding capacity. Over the next 2–6 months this supports capex, project funding and debt flexibility, reducing reliance on external financing for growth and smoothing execution risk.
Read all positive factors
Genesis Minerals Limited (GMD) vs. iShares MSCI Australia ETF (EWA)
Market Cap
AU$6.31B
Dividend YieldN/A
Average Volume (3M)8.46M
Price to Earnings (P/E)15.4
Beta (1Y)1.63
Revenue Growth149.69%
EPS Growth209.07%
CountryAU
Employees331
SectorBasic Materials
Sector Strength58
IndustryGold
Share Statistics
EPS (TTM)0.35
Shares Outstanding1,170,350,500
10 Day Avg. Volume6,589,690
30 Day Avg. Volume8,460,026
Financial Highlights & Ratios
PEG Ratio0.14
Price to Book (P/B)3.74
Price to Sales (P/S)5.10
P/FCF Ratio19.74
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price Target
AU$9.12Price Target Upside38.58% Upside
Rating ConsensusStrong Buy
Number of Analyst Covering8
EPS Forecast (FY)0.49
Revenue Forecast (FY)AU$1.69B
Genesis Minerals Limited Business Overview & Revenue Model
Company Description
Founded in 2007 and headquartered in Perth, Australia, Genesis Minerals Limited specializes in the exploration and development of gold resources across Western Australia. The company's primary asset is its wholly-owned Leonora Gold Project, strate...
How the Company Makes Money
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Genesis Minerals Limited Earnings Call Summary
Earnings Call Date:Feb 18, 2026
(Q2-2026)
| % Change Since: |
Next Earnings Date:Sep 29, 2026
Earnings Call Sentiment Positive
The call conveyed a strongly positive operational and financial performance: record consecutive production, strong cash generation (AUD 231M mine operating cash flow; AUD 404M cash & investments), NPAT materially higher (estimated +300% YoY), debt fully repaid, and multiple development milestones (Tower Hill approvals, rail agreements, and Indigenous mining agreements). Offsetting items include higher near-term growth capital (revised to AUD 220-240M), ramp-up and grade pressure at Ulysses while development ore dominates, lower recoveries from third-party Laverton feed, contractor transition risk with Byrnecut mobilizing, and upcoming cash outflows for stamp duty and tax. Overall, the positive operational momentum, strong balance sheet and delivered milestones outweigh the execution and near-term capital/timing risks.Positive Updates
Record and Growing Production
Consecutive quarter of record gold production at ~74,000 ounces in the December quarter; first half production of just over 147,000 ounces, positioning the company to meet FY '26 guidance of 260,000-290,000 ounces.
Negative Updates
Increased Growth Capital Requirement
Full year growth capital outlook revised up to AUD 220-240 million (from AUD 150-170 million) as capital for Tower Hill has been brought forward into FY '26 — higher near-term cash outflow and capital intensity despite strong cash position.
Read all updates
Q2-2026 Updates
Positive
Negative
Record and Growing Production
Consecutive quarter of record gold production at ~74,000 ounces in the December quarter; first half production of just over 147,000 ounces, positioning the company to meet FY '26 guidance of 260,000-290,000 ounces.
Read all positive updates
Company Guidance
Genesis maintained FY‑26 production guidance of 260,000–290,000 oz and AISC guidance of A$2,500–2,700/oz (at the half‑way mark it has produced just over 147,000 oz YTD at AISC A$2,578/oz), with the December quarter delivering ~74,000 oz at AISC A$2,635/oz; the quarter sold 71,000 oz at A$6,057/oz generating A$430m in sales, A$231m mine operating cash flow and A$167m net mine cash flow after A$64m of growth spend. Cash and investments rose to A$404m (underlying cash build >A$200m) with nil bank debt after fully repaying A$100m corporate debt, growth capital for FY‑26 was revised up to A$220–240m (from A$150–170m), and group stockpiles closed at 1.4Mt @1.2 g/t (≈53,000 oz). Operational metrics included Leonora UG 289,000 t @4.6 g/t (42,783 oz), Gwalia ~178,000 t @5.6 g/t (~32,000 oz), Ulysses 111,000 t @2.9 g/t (10,500 oz), Leonora mill 365,000 t @4.0 g/t at 92.8% recovery (~43,000 oz), Laverton mill 759,000 t @1.5 g/t at 83.8% recovery (~31,000 oz) (38% third‑party feed at 79.2% recovery; Genesis ore recovery 91.2%), total open‑pit movement >6Mt and Laverton movement 3.5Mt, Jupiter mined 133,000 t @0.7 g/t (~3,000 oz), exploration spend A$11.9m, estimated H1 NPAT A$235–245m, stamp duty A$13m due in June, and likely commencement of income tax installments—Tower Hill remains on track (original FY‑28 first ore timing may be able to be brought forward) while mill expansion studies and the ASPIRE 400 long‑term sizing are being finalised.Genesis Minerals Limited Financial Statement Overview
Summary
Income Statement
85
Very Positive
Balance Sheet
75
Positive
Cash Flow
90
Very Positive
| Breakdown | TTM | Jun 2025 | Jun 2024 | Jun 2023 | Jun 2022 | Jun 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 1.40B | 920.14M | 438.59M | 76.96M | 0.00 | 79.98K |
| Gross Profit | 619.04M | 504.04M | 91.85M | -14.10M | -76.23K | 40.47K |
| EBITDA | 723.61M | 463.33M | 119.44M | -91.61M | -46.28M | -16.31M |
| Net Income | 399.41M | 221.17M | 84.00M | -111.77M | -46.35M | -16.33M |
Balance Sheet | ||||||
| Total Assets | 2.01B | 1.80B | 1.21B | 1.02B | 38.74M | 34.67M |
| Cash, Cash Equivalents and Short-Term Investments | 340.99M | 239.53M | 171.29M | 181.54M | 16.12M | 10.97M |
| Total Debt | 108.11M | 200.89M | 45.20M | 11.35M | 0.00 | 0.00 |
| Total Liabilities | 494.46M | 544.39M | 217.65M | 164.67M | 10.10M | 10.76M |
| Stockholders Equity | 1.51B | 1.25B | 991.38M | 838.24M | 28.64M | 23.91M |
Cash Flow | ||||||
| Free Cash Flow | 434.77M | 237.65M | -28.31M | -52.90M | -17.91M | -24.91M |
| Operating Cash Flow | 667.32M | 420.70M | 136.24M | -37.58M | -16.84M | -14.00M |
| Investing Cash Flow | -512.40M | -442.69M | -177.06M | -360.30M | -1.07M | -10.91M |
| Financing Cash Flow | -15.94M | 90.23M | 30.57M | 563.30M | 23.07M | 24.73M |
Genesis Minerals Limited Technical Analysis
Negative
6.58
Price Trends
5.99
Negative
6.32
Negative
6.41
Negative
Market Momentum
-0.09
Positive
43.20
Neutral
20.84
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For AU:GMD, the sentiment is Negative. The current price of 6.58 is above the 20-day moving average (MA) of 5.65, above the 50-day MA of 5.99, and above the 200-day MA of 6.41, indicating a bearish trend. The MACD of -0.09 indicates Positive momentum. The RSI at 43.20 is Neutral, neither overbought nor oversold. The STOCH value of 20.84 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for AU:GMD.
Genesis Minerals Limited Peers Comparison
UnderperformOutperform
Sector (61)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
78 Outperform | AU$6.31B | 15.40 | 28.87% | ― | 149.69% | 209.07% | |
75 Outperform | AU$4.99B | 10.14 | 27.80% | 0.65% | 31.42% | ― | |
75 Outperform | AU$5.60B | 22.69 | 22.68% | ― | 69.26% | 175.52% | |
67 Neutral | AU$6.86B | 18.47 | 12.39% | 1.32% | 16.69% | 3.17% | |
66 Neutral | AU$5.69B | 11.83 | 9.94% | 1.92% | 13.34% | -15.96% | |
61 Neutral | $10.43B | 7.12 | -0.05% | 2.87% | 2.86% | -36.73% |
* Basic Materials Sector Average
AU:GMD
Genesis Minerals Limited
5.39
1.09
25.35%
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5.15
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54.61%
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Regis Resources Limited
6.59
2.32
54.40%
AU:RMS
Ramelius Resources Limited
3.00
0.53
21.65%
AU:CMM
Capricorn Metals Ltd
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2.74
28.83%
Genesis Minerals Limited Corporate Events
Genesis Minerals completes acquisition of Magnetic Resources via scheme of arrangement
Jun 22, 2026
Genesis Minerals Limited has completed its acquisition of Magnetic Resources NL via a court-approved scheme of arrangement, resulting in all Magnetic shares being transferred to Genesis and consideration delivered in a mix of cash and new Genesis ...
Genesis Minerals Seeks ASX Quotation for Over 28 Million New Securities
Jun 22, 2026
Genesis Minerals Limited has lodged an application with the ASX for quotation of 28,022,259 ordinary fully paid deferred securities, associated with Magnetic Resources. The issuance of these securities, previously flagged via an Appendix 3B, expan...
Genesis Minerals’ takeover of Magnetic Resources becomes effective after court approval
Jun 10, 2026
Genesis Minerals Limited has secured court approval to acquire 100% of Magnetic Resources NL via a scheme of arrangement under the Corporations Act, marking a further consolidation move in the Australian resources sector. The scheme has now become...
Court clears Genesis Minerals’ full takeover of Magnetic Resources
Jun 9, 2026
Genesis Minerals Limited has secured court approval for its acquisition of Magnetic Resources NL via a scheme of arrangement, paving the way for Genesis to take 100% ownership of the junior explorer. Magnetic’s shares are scheduled to be sus...
Genesis Minerals Plans Major Share Placement to Boost Capital Base
Jun 9, 2026
Genesis Minerals Limited has notified the ASX of a proposed issue of up to 28,023,576 ordinary fully paid shares, to be conducted as a placement or similar type of capital raising. The new securities are expected to be issued on 22 June 2026, sign...
Genesis Minerals Announces Lapse of 50,000 Performance Rights
Jun 4, 2026
Genesis Minerals Limited has notified the market of the cessation of 50,000 performance rights, recorded under the ASX code GMDAAE. The rights lapsed on 4 June 2026 after the specified conditions were not met or became incapable of being satisfied...
GR Engineering Wins $229m EPC Contract for Genesis Minerals’ Tower Hill Gold Project
May 21, 2026
GR Engineering Services has signed an engineering, procurement and construction contract with Genesis Minerals’ subsidiary for the Tower Hill Gold Project near Leonora. The deal, valued at $229 million, follows GR Engineering’s earlier...
Genesis outlines ‘ASPIRE 500’ growth vision in new corporate presentation
May 5, 2026
Genesis Minerals has released a corporate presentation dated 5 May 2026 outlining its “ASPIRE 500” vision, an aspirational goal to build production toward 500,000 ounces of gold per year. The document emphasises that this target is not...
Genesis taps ‘forgotten’ Gwalia zones as Leonora drilling lifts growth outlook
May 5, 2026
Genesis Minerals has reported strong drilling results across its Leonora assets, underpinned by a A$40–50m FY26 exploration budget and a debt-free balance sheet with A$600m in cash. The program targets brownfields growth around existing infr...
Genesis Minerals lifts gold resources and reserves to fuel Leonora-Laverton growth push
May 5, 2026
Genesis Minerals has significantly expanded its mineral inventory in the Leonora and Laverton gold district, lifting total resources to 18.9 million ounces and reserves to 4.4 million ounces as at 31 December 2025. The update includes a maiden Foc...
Genesis Minerals moves ahead on full acquisition of Magnetic Resources via scheme
Apr 29, 2026
Magnetic Resources has confirmed that the scheme booklet for the proposed acquisition by Genesis Minerals, under which Genesis will acquire all shares in Magnetic, has been registered with ASIC and will be distributed to shareholders in early May....
Court clears shareholder vote on Genesis Minerals’ takeover of Magnetic Resources
Apr 28, 2026
Genesis Minerals’ proposed acquisition of Magnetic Resources took a step forward after the Supreme Court of Western Australia approved the convening of a shareholder meeting and the distribution of an explanatory scheme booklet. The transact...
Genesis Minerals posts strong cash build as it accelerates growth push
Apr 15, 2026
Genesis Minerals reported a strong March 2026 quarter, producing 67,497 ounces of gold at an all-in sustaining cost of A$2,685 per ounce and lifting cash and equivalents by A$196 million to about A$600 million, with no lost-time injuries recorded....
Genesis Minerals Performance Rights Lapse Trims Potential Equity Overhang
Apr 15, 2026
Genesis Minerals has announced the cessation of 110,000 GMDAAE performance rights after the conditions attached to those rights were not met or became incapable of being satisfied. The lapse slightly reduces the company’s potential future is...
Magnetic Resources Advances Genesis Takeover with Lodgement of Draft Scheme Booklet
Apr 12, 2026
Magnetic Resources has lodged a draft scheme booklet, including an independent expert’s report and draft notice of meeting, with ASIC and the ASX as part of a proposed scheme of arrangement under which Genesis Minerals will acquire all Magne...
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.