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Hammer Metals Limited
(Sydney:HMX)
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Rating:55Neutral
Price Target:
AU$0.08
â–˛(30.00% Upside)
Action:Reiterated
Date:08/04/26
The score is held back primarily by weak financial quality—ongoing losses and negative operating/free cash flow—despite low leverage on the balance sheet. Technicals provide the main support with a strong uptrend and positive MACD, though momentum is nearing overbought. Valuation is constrained by negative earnings (negative P/E) and no stated dividend yield.
Positive Factors
Low leverage / strong equity position
Very low leverage (debt/equity 0.0042) and a healthy equity ratio reduce solvency risk and give management financial flexibility. Over a 2–6 month horizon this supports funding exploration via non-debt routes, preserves optionality for JV/farm-out talks and limits interest burden.
Negative Factors
Persistent unprofitability and negative ROE
Ongoing negative margins across net profit, EBIT and EBITDA and a negative ROE show the company is not generating returns on shareholder capital. Over months this limits retained capital for exploration, raises scrutiny of project economics and heightens reliance on external funding.
Read all positive and negative factors
Positive Factors
Negative Factors
Low leverage / strong equity position
Very low leverage (debt/equity 0.0042) and a healthy equity ratio reduce solvency risk and give management financial flexibility. Over a 2–6 month horizon this supports funding exploration via non-debt routes, preserves optionality for JV/farm-out talks and limits interest burden.
Read all positive factors
Hammer Metals Limited (HMX) vs. iShares MSCI Australia ETF (EWA)
Market Cap
AU$58.92M
Dividend YieldN/A
Average Volume (3M)725.22K
Price to Earnings (P/E)―
Beta (1Y)1.68
Revenue Growth-100.00%
EPS Growth-141.82%
CountryAU
Employees4
SectorBasic Materials
Sector Strength58
IndustryOther Precious Metals
Share Statistics
EPS (TTM)>-0.01
Shares Outstanding892,758,700
10 Day Avg. Volume900,556
30 Day Avg. Volume725,216
Financial Highlights & Ratios
PEG Ratio0.06
Price to Book (P/B)0.74
Price to Sales (P/S)109.11
P/FCF Ratio-6.18
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
Hammer Metals Limited Business Overview & Revenue Model
Company Description
Hammer Metals Limited engages in the exploration and extraction of mineral resources in Australia. It explores for iron oxide, copper, cobalt, and gold deposits, as well as for molybdenum ores. The company holds 100% interests in the Mount Isa pro...
How the Company Makes Money
Hammer Metals Limited is primarily an exploration-stage company, so its ability to generate operating revenue typically depends on progressing exploration assets to a value-realisation event rather than selling products in the ordinary course of b...
Hammer Metals Limited Financial Statement Overview
Summary
Income Statement
45
Neutral
Balance Sheet
60
Neutral
Cash Flow
40
Negative
| Breakdown | TTM | Jun 2025 | Jun 2024 | Jun 2023 | Jun 2022 | Jun 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 156.81K | 227.32K | 177.06K | 190.97K | 214.86K | 269.52K |
| Gross Profit | 115.36K | 227.32K | 177.06K | -100.58K | 172.41K | 242.61K |
| EBITDA | -1.13M | -1.18M | -2.11M | -1.18M | -593.04K | -579.71K |
| Net Income | -2.07M | -2.92M | 6.27M | -1.29M | -645.27K | -611.52K |
Balance Sheet | ||||||
| Total Assets | 33.46M | 34.39M | 36.74M | 29.68M | 27.67M | 28.06M |
| Cash, Cash Equivalents and Short-Term Investments | 3.36M | 2.56M | 5.23M | 4.36M | 5.19M | 9.71M |
| Total Debt | 93.60K | 141.29K | 177.59K | 164.59K | 233.94K | 296.59K |
| Total Liabilities | 1.10M | 1.02M | 838.26K | 608.49K | 925.50K | 1.47M |
| Stockholders Equity | 32.37M | 33.37M | 35.90M | 29.07M | 26.75M | 26.60M |
Cash Flow | ||||||
| Free Cash Flow | -2.12M | -4.01M | -3.41M | -5.80M | -5.93M | -4.49M |
| Operating Cash Flow | -569.56K | -556.69K | -1.51M | -982.78K | -1.00M | -619.67K |
| Investing Cash Flow | 1.30M | -2.01M | 2.27M | -3.22M | -3.58M | -2.92M |
| Financing Cash Flow | -100.31K | -104.17K | 104.62K | 3.36M | 69.39K | 10.56M |
Hammer Metals Limited Peers Comparison
UnderperformOutperform
Sector (61)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
61 Neutral | $10.43B | 7.12 | -0.05% | 2.87% | 2.86% | -36.73% | |
55 Neutral | AU$58.92M | -28.70 | -6.28% | ― | -100.00% | -141.82% | |
46 Neutral | AU$2.65M | -3.00 | -55.63% | ― | ― | -85.71% | |
46 Neutral | AU$30.51M | -5.50 | -26.87% | ― | ― | -100.00% | |
42 Neutral | AU$28.50M | -8.58 | -17.92% | ― | ― | 14.47% | |
38 Underperform | AU$21.24M | -5.09 | -24.90% | ― | ― | 77.87% | |
36 Underperform | AU$3.57M | -0.54 | -119.59% | ― | ― | 20.68% |
* Basic Materials Sector Average
AU:HMX
Hammer Metals Limited
0.09
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230.77%
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Hammer Metals Limited Corporate Events
Austral Tables Binding Bid for Hammer Metals to Forge Queensland Copper Powerhouse
Aug 3, 2026
Austral Resources Australia has lodged a binding scheme proposal to acquire all shares in Hammer Metals, offering Hammer investors an implied value of A$0.087 per share through a mix of Austral scrip and value attributable to a planned SpinCo deme...
Hammer Metals Receives Superior Takeover Offer From Austral Resources
Aug 2, 2026
Hammer Metals has received a binding acquisition proposal from copper producer Austral Resources, following an earlier unsolicited indicative offer in July. The transaction would be implemented via a scheme of arrangement, alongside a demerger of ...
Hammer Metals backs Larvotto takeover as rival Austral circling
Jul 29, 2026
Hammer Metals has agreed to be acquired by Larvotto Resources via a scheme of arrangement, with its Western Australian Yandal gold assets to be spun out into an unlisted SpinCo, giving shareholders exposure to Larvotto shares and retained interest...
Hammer Metals Delivers Strong Kalman Assays as Resource Upgrade Advances
Jul 13, 2026
Hammer Metals has reported a series of strong assay results from its latest drilling campaign at the Kalman Critical Metals Project, including an extended headline intercept of 165m at 1.96% copper equivalent from drill hole K162. Additional subst...
Larvotto defends Hammer takeover as Austral’s rival bid stays non‑binding
Jul 8, 2026
Larvotto Resources has reaffirmed its commitment to acquire Hammer Metals via a scrip‑based scheme, responding to Hammer’s disclosure of a competing non‑binding indicative proposal from Austral Resources. The company notes that t...
Austral Resources launches premium bid for Hammer Metals to secure long-term Rocklands ore feed
Jul 6, 2026
Austral Resources has submitted a non-binding indicative proposal to acquire all shares in Hammer Metals at an implied value of A$0.087 per share, valuing Hammer at about A$80.8 million and offering a 29.9% premium to the existing Larvotto Resourc...
Hammer Metals Receives Competing Takeover Proposal From Austral Resources
Jul 6, 2026
Hammer Metals has received an unsolicited, non-binding and indicative takeover proposal from Austral Resources, which seeks to acquire 100% of Hammer via a scheme of arrangement. As part of the proposal, Hammer’s Western Australian gold asse...
Hammer Metals Extends Trading Suspension Amid Potential Change-of-Control Deal
Jun 10, 2026
Hammer Metals Limited has extended the voluntary suspension of trading in its securities on the ASX, as it continues to negotiate a potential material corporate transaction that could result in a change of control. The suspension will remain in pl...
Hammer Metals Requests ASX Suspension Ahead of Potential Change-of-Control Deal
Jun 9, 2026
Hammer Metals has requested a voluntary suspension of trading in its securities on the ASX from 9 June 2026, and the exchange has formally suspended the stock under Listing Rule 17.2. The move comes as the company prepares an announcement regardin...
Hammer Metals Reports Lapse of 1.5 Million Performance Rights
Jun 5, 2026
Hammer Metals Limited has reported the lapse of 1,500,000 performance rights, which have ceased because the specified conditions for their conversion were not satisfied or became incapable of being met. The cessation modestly adjusts the company&#...
Hammer Metals Corrects Director Shareholding Disclosure
Jun 5, 2026
Hammer Metals Limited has corrected an administrative error in a previously lodged director’s interest notice relating to Chairman Russell Davis’s indirect shareholding. The company clarified that the Davis Family Investment Trust̵...
Hammer Metals Wins South32 Backing at Isa Valley as Sumitomo Exits Bullrush JV
Jun 5, 2026
Hammer Metals has secured continued backing from a South32 subsidiary at its Isa Valley project near Mount Isa, with the major electing to move into Stage 3 of an earn-in agreement. South32 will commit A$3 million in exploration over three years t...
Hammer Metals Seeks Trading Halt Ahead of Potential Change-of-Control Deal
Jun 4, 2026
Hammer Metals Limited has requested and been granted a trading halt on its securities by the ASX, effective 4 June 2026, while it prepares a significant announcement. The halt will remain in place until either normal trading commences on 9 June 20...
Hammer Metals flags strong Kalman drilling results and resource upgrade push
May 24, 2026
Hammer Metals reported strong initial results from a resource upgrade drilling program at its 100%-owned Kalman Critical Metals Project, with six of eight planned holes completed and partial assays from hole K-162 confirming multiple thick zones o...
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.