Hartshead Resources NL (AU:HHR)
ASX:HHR
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Hartshead Resources NL
(Sydney:HHR)
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Rating:44Neutral
Price Target:
$0.01
▲(40.00% Upside)
Action:Reiterated
Date:01/29/26
The score is weighed down primarily by weak financial performance (losses, declining revenue, and persistent negative free cash flow), with additional pressure from weak technical momentum. A debt-free balance sheet provides some stability, but valuation is constrained by negative earnings and no stated dividend yield.
Positive Factors
Debt-free balance sheet
A debt-free, equity-backed balance sheet reduces refinancing and interest-rate risk for multi-year offshore projects. This structural stability supports longer development timelines, strengthens negotiating position with partners and lenders, and preserves optionality to fund or farm-out projects without immediate solvency pressure.
Negative Factors
Persistent negative cash flow
Consistent negative operating and free cash flow, with worsening FCF (~-7.35M), signals ongoing cash burn that must be financed. This creates structural funding risk for multi-year exploration and development, increasing likelihood of dilutive equity raises or urgent farm-outs that can reduce shareholder upside.
Read all positive and negative factors
Positive Factors
Negative Factors
Debt-free balance sheet
A debt-free, equity-backed balance sheet reduces refinancing and interest-rate risk for multi-year offshore projects. This structural stability supports longer development timelines, strengthens negotiating position with partners and lenders, and preserves optionality to fund or farm-out projects without immediate solvency pressure.
Read all positive factors
Hartshead Resources NL (HHR) vs. iShares MSCI Australia ETF (EWA)
Market Cap
AU$39.53M
Dividend YieldN/A
Average Volume (3M)N/A
Price to Earnings (P/E)―
Beta (1Y)1.35
Revenue GrowthN/A
EPS Growth25.00%
CountryAU
Employees30
SectorEnergy
Sector Strength52
IndustryOil & Gas Exploration & Production
Share Statistics
EPS (TTM)<0.01
Shares Outstanding2,823,682,100
10 Day Avg. VolumeN/A
30 Day Avg. VolumeN/A
Financial Highlights & Ratios
PEG Ratio0.44
Price to Book (P/B)0.58
Price to Sales (P/S)9.09
P/FCF Ratio-2.66
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
Hartshead Resources NL Business Overview & Revenue Model
Company Description
Hartshead Resources NL is an energy company primarily focused on the exploration and development of oil and gas reserves. Its activities span several global regions, including the United Kingdom, Gabon, and Madagascar. A cornerstone of its portfol...
How the Company Makes Money
HHR’s primary way of generating revenue is through the commercialisation of hydrocarbons from its project interests: once a field is developed and producing, the company would earn its share of sales proceeds from natural gas (and any associated l...
Hartshead Resources NL Financial Statement Overview
Summary
Income Statement
22
Negative
Balance Sheet
74
Positive
Cash Flow
18
Very Negative
| Breakdown | TTM | Jun 2025 | Jun 2024 | Jun 2023 | Jun 2022 | Jun 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 1.26M | 2.15M | 4.68M | 8.13M | 0.00 | 0.00 |
| Gross Profit | 1.15M | 2.04M | 4.28M | -14.36K | -9.40K | -4.15K |
| EBITDA | -3.14M | -2.51M | -3.19M | 1.53M | -3.62M | -6.01M |
| Net Income | -1.70M | -2.26M | -2.70M | 1.52M | -3.67M | -6.01M |
Balance Sheet | ||||||
| Total Assets | 33.71M | 34.98M | 36.39M | 38.32M | 4.78M | 7.64M |
| Cash, Cash Equivalents and Short-Term Investments | 13.97M | 15.76M | 23.96M | 32.88M | 2.50M | 6.90M |
| Total Debt | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Total Liabilities | 1.46M | 1.45M | 3.01M | 2.80M | 869.83K | 872.24K |
| Stockholders Equity | 32.25M | 33.53M | 33.38M | 35.52M | 3.91M | 6.77M |
Cash Flow | ||||||
| Free Cash Flow | -3.71M | -7.35M | -9.00M | -11.92M | -4.38M | -1.76M |
| Operating Cash Flow | -1.77M | -3.11M | -497.18K | -4.18M | -2.98M | -1.31M |
| Investing Cash Flow | -2.46M | -6.13M | -8.50M | 5.40M | -1.40M | 536.62K |
| Financing Cash Flow | 0.00 | 0.00 | 0.00 | 29.15M | 0.00 | 7.52M |
Hartshead Resources NL Peers Comparison
UnderperformOutperform
Sector (65)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
65 Neutral | $15.17B | 7.61 | 4.09% | 5.20% | 3.87% | -62.32% | |
57 Neutral | AU$19.45M | -18.75 | -6.54% | ― | 27.55% | -60.00% | |
49 Neutral | AU$18.91M | -4.58 | -6.67% | ― | ― | -283.33% | |
46 Neutral | AU$26.62M | -0.44 | -50.55% | ― | ― | -62.06% | |
46 Neutral | AU$20.81M | -0.53 | -75.72% | ― | -25.04% | -192.86% | |
44 Neutral | AU$39.53M | -23.24 | -5.16% | ― | ― | 25.00% | |
44 Neutral | AU$41.94M | -17.99 | -15.00% | ― | ― | 40.00% |
* Energy Sector Average
AU:HHR
Hartshead Resources NL
0.01
<0.01
7.69%
AU:88E
88 Energy
0.02
>-0.01
-13.04%
AU:ATS
Australis Oil & Gas
0.02
<0.01
36.36%
AU:MAY
Melbana Energy Limited
0.01
-0.01
-54.55%
AU:TDO
3D Oil Limited
0.08
-0.04
-33.33%
AU:BAS
Bass Oil Ltd
0.05
0.02
76.67%
Hartshead Resources NL Corporate Events
Hartshead shareholders approve ACAM takeover as court ruling nears
Jun 8, 2026
Hartshead Resources shareholders have voted to approve a scheme of arrangement under which ACAM GP Limited, as general partner of ACAM LP, will acquire 100% of the company’s issued share capital. The scheme resolution was strongly supported,...
Hartshead Resources Holds Court-Ordered Vote on ACAM Takeover Scheme
Jun 8, 2026
Hartshead Resources has convened a court-ordered scheme meeting in Perth for shareholders to vote on a proposal for ACAM GP Limited, as general partner of ACAM LP, to acquire 100% of the company’s issued share capital via a scheme of arrange...
Hartshead Sets Court Date for ACAM Takeover Scheme Approval
Jun 4, 2026
Hartshead Resources has announced details of the court process for its proposed acquisition by ACAM GP Limited as general partner of ACAM LP, via a scheme of arrangement valuing each fully paid share at $0.014 and each partly paid share at $0.0007...
Hartshead Board Backs ACAM Cash Takeover as Scheme Booklet Lands With Shareholders
May 7, 2026
Hartshead Resources has mailed and emailed its scheme booklet to shareholders detailing the proposed acquisition of all its shares by ACAM GP Limited, acting as general partner of ACAM LP, via a scheme of arrangement. The materials explain how inv...
Hartshead Resources Sends ASIC-Registered Scheme Booklet for ACAM Takeover
Apr 30, 2026
Hartshead Resources has confirmed that its scheme booklet for the proposed acquisition of 100% of its shares by ACAM GP Limited, as general partner of ACAM LP, has been registered with ASIC and made available to shareholders through various electr...
Court clears Hartshead Resources to convene shareholder vote on ACAM takeover
Apr 29, 2026
Hartshead Resources NL has received orders from the Supreme Court of Western Australia to convene a shareholder meeting to vote on a proposed scheme of arrangement under which ACAM GP Limited, as general partner of ACAM LP, would acquire 100% of H...
Hartshead Advances UK Gas Plans and Backs Premium Takeover by ACAM
Apr 29, 2026
Hartshead Resources reported that work on developing the Anning and Somerville gas fields within Licence P2607 is continuing under the existing 2024 joint venture budget, with the project supported by a strong UK and European gas market and a clea...
Hartshead Sets New Timetable as UK Regulator Clears Takeover Scheme
Apr 16, 2026
Hartshead Resources NL has updated the timetable for its proposed scheme of arrangement under which ACAM GP Limited, as general partner of ACAM LP, will acquire 100% of the company’s shares. The company now expects to send the Scheme Booklet...
Harvest Lane Lifts Stake in Hartshead Resources to 11.8%
Mar 30, 2026
Harvest Lane Asset Management and its associated entities have increased their substantial shareholding in Hartshead Resources NL, lifting their voting power from 10.47% to 11.80% of the company’s issued ordinary shares. The move, disclosed ...
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.