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Horseshoe Metals Limited
(Sydney:HOR)
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Rating:41Neutral
Price Target:
AU$0.02
▼(-55.00% Downside)
Action:Reiterated
Date:07/14/26
The score is primarily constrained by weak financial performance—persistent losses, ongoing cash burn, and negative equity. Technicals also weigh on the score given a clear downtrend and bearish momentum, even though indicators appear oversold. Valuation is limited by negative earnings and the absence of dividend support.
Positive Factors
Revenue Rebound
A meaningful top-line rebound in 2025 shows the company can convert exploration activity into measurable commercial receipts. Over 2-6 months this proves increasing prospect value, improves credibility with partners and financiers, and raises the odds of securing farm-ins or JV funding that de-risks the company structurally.
Negative Factors
Negative Shareholders' Equity
Consistent negative equity is a structural balance-sheet weakness that reduces financial flexibility, limits conventional borrowing, and elevates counterparty and funding risk. Over months this forces reliance on dilutive equity or high-cost financing and weakens negotiating leverage with partners and creditors.
Read all positive and negative factors
Positive Factors
Negative Factors
Revenue Rebound
A meaningful top-line rebound in 2025 shows the company can convert exploration activity into measurable commercial receipts. Over 2-6 months this proves increasing prospect value, improves credibility with partners and financiers, and raises the odds of securing farm-ins or JV funding that de-risks the company structurally.
Read all positive factors
Horseshoe Metals Limited (HOR) vs. iShares MSCI Australia ETF (EWA)
Market Cap
AU$13.50M
Dividend YieldN/A
Average Volume (3M)659.97K
Price to Earnings (P/E)―
Beta (1Y)0.35
Revenue GrowthN/A
EPS Growth-84.62%
CountryAU
Employees3
SectorBasic Materials
Sector Strength58
IndustryIndustrial Materials
Share Statistics
EPS (TTM)>-0.01
Shares Outstanding750,009,100
10 Day Avg. Volume1,107,777
30 Day Avg. Volume659,968
Financial Highlights & Ratios
PEG Ratio-0.21
Price to Book (P/B)-22.34
Price to Sales (P/S)121.34
P/FCF Ratio-26.85
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
Horseshoe Metals Limited Business Overview & Revenue Model
Company Description
Horseshoe Metals Limited is an Australian enterprise dedicated to the exploration and advancement of mineral assets, primarily targeting copper and gold deposits. The company boasts complete ownership of the Horseshoe Lights project, an extensive ...
How the Company Makes Money
Horseshoe Metals Limited is primarily an exploration-stage mining company, so it typically does not generate recurring operating revenue from product sales unless and until it develops a project into production. Its economic model is generally bas...
Horseshoe Metals Limited Financial Statement Overview
Summary
Income Statement
12
Very Negative
Balance Sheet
18
Very Negative
Cash Flow
14
Very Negative
| Breakdown | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|
Income Statement | |||||
| Total Revenue | 250.00K | 11.91K | 8.61K | 21.49K | 93.31K |
| Gross Profit | -685.65K | -19.32K | -4.75K | -12.31K | 89.34K |
| EBITDA | -1.48M | -787.71K | -1.18M | -2.26M | -2.13M |
| Net Income | -1.68M | -845.65K | -1.29M | -2.37M | -2.31M |
Balance Sheet | |||||
| Total Assets | 10.12M | 8.86M | 8.54M | 8.26M | 8.47M |
| Cash, Cash Equivalents and Short-Term Investments | 27.62K | 399.00 | 2.47K | 6.78K | 1.37M |
| Total Debt | 1.70M | 1.19M | 1.69M | 1.59M | 1.64M |
| Total Liabilities | 11.47M | 10.11M | 9.10M | 9.79M | 10.30M |
| Stockholders Equity | -1.36M | -1.25M | -560.53K | -1.53M | -1.84M |
Cash Flow | |||||
| Free Cash Flow | -1.13M | -166.70K | -1.86M | -3.24M | -955.53K |
| Operating Cash Flow | -546.48K | -166.70K | -1.85M | -3.19M | -955.53K |
| Investing Cash Flow | -583.42K | 0.00 | -727.00 | -47.68K | 0.00 |
| Financing Cash Flow | 1.16M | 164.63K | 1.85M | 1.87M | 2.23M |
Horseshoe 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% | |
47 Neutral | AU$16.51M | -22.50 | -7.13% | ― | -25.35% | 95.00% | |
47 Neutral | AU$17.10M | -11.21 | -2.36% | ― | ― | 10.09% | |
46 Neutral | AU$18.59M | -3.16 | -57.07% | ― | ― | 49.56% | |
43 Neutral | AU$17.73M | -8.75 | -2.90% | ― | ― | 40.74% | |
41 Neutral | AU$13.50M | -8.26 | 112.84% | ― | ― | -84.62% | |
41 Neutral | AU$17.51M | -0.88 | -107.26% | ― | ― | 71.99% |
* Basic Materials Sector Average
AU:HOR
Horseshoe Metals Limited
0.02
>-0.01
-26.92%
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Horseshoe Metals Limited Corporate Events
Horseshoe Metals Options Vest Under Employee Incentive Plan
Jul 1, 2026
Horseshoe Metals Limited has confirmed that vesting conditions have been met for a total of 7,550,000 options issued under its Employee Securities Incentive Plan. These options, granted at a zero exercise price and subject to continuous service co...
Horseshoe Metals Issues Director Placement Shares and Lodges Cleansing Notice
Jun 16, 2026
Horseshoe Metals has issued 1,000,000 fully paid ordinary shares as a director placement to board member Kate Stoney, following shareholder approval at the company’s 20 May 2026 annual general meeting. The new shares form part of the company...
Horseshoe Metals Seeks ASX Quotation for 1 Million New Shares
Jun 16, 2026
Horseshoe Metals Limited has applied to the ASX for quotation of 1,000,000 ordinary fully paid shares, with an issue date of 16 June 2026. The new securities form part of previously announced transactions and will increase the company’s quot...
Horseshoe Metals Options Lapse, Trimming Potential Dilution
May 6, 2026
Horseshoe Metals Limited has notified the market that 300,000 options with the ASX code HORAAD, expiring on 2 May 2026 with no exercise price, have lapsed unexercised. The cessation of these options results in a modest simplification of the compan...
Horseshoe Metals Targets Resource Growth and Early Cash Flow at Horseshoe Lights
Apr 30, 2026
Horseshoe Metals has outlined a new copper Exploration Target for the Motters Zone at its Horseshoe Lights Copper-Gold Project, estimating 2.6–3.6 million tonnes grading 1.0–1.5% Cu to a depth of 600 metres, covering oxide, transitiona...
Horseshoe Metals Uncovers High-Value Gold and Silver Credits in Copper DSO at Horseshoe Lights
Apr 28, 2026
Horseshoe Metals has reported newly assayed high-grade gold and silver values within its Direct Shipping Ore stockpiles at the Horseshoe Lights Copper-Gold Project in Western Australia, with grades up to 2.56 g/t gold and 107.3 g/t silver. The pre...
Horseshoe Metals Moves AGM Materials Online and Sets May Meeting Date
Apr 20, 2026
Horseshoe Metals Limited has notified shareholders that its Annual General Meeting will be held on 20 May 2026 in Perth, Western Australia. The company is adopting electronic distribution of its meeting materials in line with Corporations Act chan...
Horseshoe Metals Sets May 2026 AGM to Vote on 2025 Remuneration Report
Apr 20, 2026
Horseshoe Metals Limited has called its Annual General Meeting for 20 May 2026 in Perth, setting 18 May 2026 as the record date for shareholders eligible to vote. The meeting will table the 2025 Annual Report, including financial, directors’...
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.