Horseshoe Metals Limited (AU:HOR)
ASX:HOR
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Horseshoe Metals Limited
(Sydney:HOR)
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Rating:43Neutral
Price Target:
AU$0.02
▼(-40.00% Downside)
Action:ReiteratedDate:04/09/26
The score is driven primarily by weak financial performance—persistent losses, ongoing cash burn, and negative equity with meaningful debt—indicating elevated funding risk. Technical indicators are mixed and do not show strong upward momentum, while valuation metrics are not supportive due to loss-making earnings and no dividend yield.
Positive Factors
Commodity Exposure / Industry Tailwinds
Horseshoe’s strategic focus on copper and gold gives it exposure to long-term structural demand for base and precious metals. As an upstream explorer, the firm benefits from high-impact discovery optionality and potential outsized returns via resource definition, JV or asset sale outcomes that remain relevant over months.
Negative Factors
Negative Equity
Structurally negative equity limits financial flexibility and heightens funding risk: it reduces buffer against losses, complicates debt capacity and can force dilutive equity raises. Over a multi-month horizon, negative equity constrains strategic options and increases issuer vulnerability to funding shocks.
Read all positive and negative factors
Positive Factors
Negative Factors
Commodity Exposure / Industry Tailwinds
Horseshoe’s strategic focus on copper and gold gives it exposure to long-term structural demand for base and precious metals. As an upstream explorer, the firm benefits from high-impact discovery optionality and potential outsized returns via resource definition, JV or asset sale outcomes that remain relevant over months.
Read all positive factors
Horseshoe Metals Limited (HOR) vs. iShares MSCI Australia ETF (EWA)
Market Cap
AU$18.73M
Dividend YieldN/A
Average Volume (3M)659.97K
Price to Earnings (P/E)―
Beta (1Y)0.45
Revenue GrowthN/A
EPS GrowthN/A
CountryAU
Employees3
SectorBasic Materials
Sector Strength58
IndustryIndustrial Materials
Share Statistics
EPS (TTM)>-0.01
Shares Outstanding749,009,100
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 engages in the exploration and development of mineral properties in Australia. The company explores for copper and gold deposits. It owns 100% interests in the Horseshoe Lights project that comprises 15 tenements covering ...
How the Company Makes Money
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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 | -557.70K | -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 |
|---|---|---|---|---|---|---|---|
64 Neutral | AU$20.71M | 5.36 | 9.37% | 8.14% | ― | -16.82% | |
61 Neutral | $10.43B | 7.12 | -0.05% | 2.87% | 2.86% | -36.73% | |
47 Neutral | AU$10.20M | -6.22 | -6.75% | ― | ― | 16.67% | |
45 Neutral | AU$58.38M | -15.23 | -1.33% | ― | ― | ― | |
44 Neutral | AU$11.81M | -4.17 | 110.58% | ― | ― | 93.44% | |
43 Neutral | AU$18.73M | -6.19 | ― | ― | ― | ― | |
43 Neutral | AU$35.94M | -2.58 | -5.94% | ― | -67.81% | -244.10% |
* Basic Materials Sector Average
AU:HOR
Horseshoe Metals Limited
0.03
<0.01
13.64%
AU:GUL
Gullewa Limited
0.08
>-0.01
-1.18%
AU:BCA
Black Canyon Limited
0.36
0.30
500.00%
AU:AHN
Athena Resources Limited
―
―
―
AU:VML
Vital Metals Ltd
0.15
0.09
145.00%
AU:RWD
Reward Minerals Limited
0.04
-0.02
-25.42%
Horseshoe Metals Limited Corporate Events
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’...
Horseshoe Metals Releases 2025 Annual Report Detailing Corporate Structure
Mar 31, 2026
Horseshoe Metals Limited has released its annual report for the year ended 31 December 2025, outlining its corporate structure and key governance arrangements. The document details the composition of the board, company secretaries, registered offi...
Horseshoe Metals Issues 1 Million Shares Under Employee Incentive Plan
Feb 4, 2026
Horseshoe Metals Limited has issued 1,000,000 fully paid ordinary shares under its Employee Securities Incentive Plan, expanding its quoted share capital on the ASX. The company has confirmed that the issue was conducted without a disclosure docum...
Horseshoe Metals adds 1m shares via employee scheme
Feb 4, 2026
Horseshoe Metals Limited, an ASX-listed resources exploration company, focuses on developing base and precious metal assets. The company applied to quote 1,000,000 new ordinary shares issued on 4 February 2026 under its employee incentive scheme, ...
Horseshoe Metals Plans Multi‑Tranche Option Issue to Support Capital Raising
Feb 4, 2026
Horseshoe Metals Limited has notified the ASX of a proposed issue of options as part of a placement or similar capital-raising initiative. The company, listed under ticker HOR, is using the Appendix 3B process to seek quotation of these new securi...
Horseshoe Metals Confirms Broad Copper Oxide Zones as Funding Talks Advance at Horseshoe Lights
Jan 30, 2026
Horseshoe Metals has advanced drilling and funding initiatives at its Horseshoe Lights Copper-Gold Project during the December 2025 quarter, completing 2,204 metres of reverse circulation drilling, including 1,824 metres at the Motters zone and 38...
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.