Horizon Gold Ltd (AU:HRN)
ASX:HRN
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Horizon Gold Ltd
(Sydney:HRN)
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Rating:56Neutral
Price Target:
AU$1.50
â²(80.72% Upside)
Action:ReiteratedDate:03/17/26
The score is held down primarily by weak financial performance (zero revenue in 2025, ongoing losses, and persistent cash burn), partially offset by a low-leverage balance sheet. Technicals are a near-term positive with strong uptrends and positive momentum, while valuation signals are constrained by losses (negative P/E) and the absence of a dividend.
Positive Factors
Low leverage / balance sheet strength
Very low debt levels materially reduce solvency and refinancing risk for an exploration junior. This durable financial flexibility lets management sustain drilling and project advancement during extended downturns without immediate debt pressure, supporting long-term project optionality.
Negative Factors
Zero reported revenue in 2025
Recording zero revenue in 2025 demonstrates the company currently lacks commercial production or saleable output. This absence of operating revenue prevents internal funding of exploration or development, forcing ongoing dependence on capital markets or partners to finance progress toward monetisation.
Read all positive and negative factors
Positive Factors
Negative Factors
Low leverage / balance sheet strength
Very low debt levels materially reduce solvency and refinancing risk for an exploration junior. This durable financial flexibility lets management sustain drilling and project advancement during extended downturns without immediate debt pressure, supporting long-term project optionality.
Read all positive factors
Horizon Gold Ltd (HRN) vs. iShares MSCI Australia ETF (EWA)
Market Cap
AU$233.35M
Dividend YieldN/A
Average Volume (3M)119.56K
Price to Earnings (P/E)â
Beta (1Y)0.77
Revenue GrowthN/A
EPS Growth42.74%
CountryAU
Employees1
SectorBasic Materials
Sector Strength58
IndustryGold
Share Statistics
EPS (TTM)N/A
Shares Outstanding178,126,020
10 Day Avg. Volume159,279
30 Day Avg. Volume119,565
Financial Highlights & Ratios
PEG Ratio1.79
Price to Book (P/B)2.39
Price to Sales (P/S)0.00
P/FCF Ratio-14.91
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
Horizon Gold Ltd Business Overview & Revenue Model
Company Description
Horizon Gold Limited engages in the exploration, evaluation, development, and production of gold deposits in Australia. Its flagship project is the Gum Creek gold project covering an area of approximately 668 square kilometers located within the S...
How the Company Makes Money
null...
Horizon Gold Ltd Financial Statement Overview
Summary
Income Statement
18
Very Negative
Balance Sheet
72
Positive
Cash Flow
22
Negative
| Breakdown | TTM | Jun 2025 | Jun 2024 | Jun 2023 | Jun 2022 | Jun 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | -38.00K | 0.00 | 65.00K | 135.00K | 136.00K | 17.00K |
| Gross Profit | -298.00K | -506.00K | -508.00K | -298.00K | -66.00K | -11.00K |
| EBITDA | -1.80M | -1.60M | -1.11M | -1.71M | -477.00K | -1.04M |
| Net Income | -1.11M | -972.00K | -1.71M | -2.14M | -487.00K | -1.07M |
Balance Sheet | ||||||
| Total Assets | 57.98M | 48.30M | 44.10M | 40.75M | 41.97M | 36.44M |
| Cash, Cash Equivalents and Short-Term Investments | 4.41M | 503.00K | 219.00K | 238.00K | 211.00K | 1.27M |
| Total Debt | 0.00 | 500.00K | 0.00 | 41.00K | 40.00K | 0.00 |
| Total Liabilities | 13.24M | 14.77M | 12.15M | 11.94M | 11.50M | 11.56M |
| Stockholders Equity | 44.74M | 33.53M | 31.96M | 28.80M | 30.47M | 24.88M |
Cash Flow | ||||||
| Free Cash Flow | -4.37M | -5.37M | -2.59M | -5.91M | -6.20M | -3.78M |
| Operating Cash Flow | -955.00K | -791.00K | -755.00K | -646.00K | -637.00K | -1.25M |
| Investing Cash Flow | -9.58M | 575.00K | -5.00M | 237.00K | -6.37M | -7.03M |
| Financing Cash Flow | 11.31M | 500.00K | 5.74M | 436.00K | 5.95M | 9.38M |
Horizon Gold Ltd Technical Analysis
Neutral
0.83
Price Trends
1.17
Positive
0.97
Positive
0.78
Positive
Market Momentum
0.03
Positive
51.31
Neutral
50.51
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For AU:HRN, the sentiment is Neutral. The current price of 0.83 is below the 20-day moving average (MA) of 1.36, below the 50-day MA of 1.17, and above the 200-day MA of 0.78, indicating a neutral trend. The MACD of 0.03 indicates Positive momentum. The RSI at 51.31 is Neutral, neither overbought nor oversold. The STOCH value of 50.51 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Neutral sentiment for AU:HRN.
Horizon Gold Ltd 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% | |
56 Neutral | AU$233.35M | -301.32 | -2.84% | â | â | 42.74% | |
52 Neutral | AU$257.78M | -54.81 | -18.74% | â | â | 14.63% | |
48 Neutral | AU$224.24M | -6.58 | -13.03% | â | â | â | |
44 Neutral | AU$134.64M | -23.38 | -8.70% | â | â | â | |
43 Neutral | AU$124.59M | -21.55 | -25.67% | â | â | -700.00% |
* Basic Materials Sector Average
AU:HRN
Horizon Gold Ltd
1.31
0.88
205.36%
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Torque Metals Ltd.
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Horizon Gold Ltd Corporate Events
Horizon Gold Issues 16.67 Million Shares to Professional Investors Under Placement
Mar 11, 2026
Horizon Gold Limited has confirmed the issuance of approximately 16.67 million fully paid ordinary shares to sophisticated and professional investors under a recent placement, using its existing capacity under ASX Listing Rule 7.1. The new shares ...
Horizon Gold Seeks ASX Quotation for 16.7 Million New Shares
Mar 11, 2026
Horizon Gold Limited has applied to the ASX for quotation of 16,666,667 new ordinary fully paid shares, expanding its listed security base under code HRN. The issuance, lodged as a new Appendix 2A announcement dated 12 March 2026, increases the co...
Horizon Gold Starts Despatch of Documents for $10.2m Entitlement Offer
Mar 11, 2026
Horizon Gold has begun despatching offer documents and entitlement and acceptance forms for its previously announced non-renounceable one-for-20 entitlement offer, aiming to raise about $10.2 million before costs. The offer opens on 12 March and c...
Horizon Gold Releases Interim Financial Report for Half-Year 2025
Mar 11, 2026
Horizon Gold Limited has released its interim financial report for the period ended 31 December 2025, covering consolidated results with its wholly owned subsidiary Gum Creek Gold Mines Pty Ltd. The report package includes directors’ and aud...
Horizon Gold Plans Placement of 16.7 Million New Shares
Mar 3, 2026
Horizon Gold Limited has notified the ASX of a proposed placement of up to 16,666,667 ordinary fully paid shares under an Appendix 3B. The new securities, to be issued on 12 March 2026, represent a capital-raising initiative that may strengthen th...
Horizon Gold to Raise $10.2m via Non-Renounceable Entitlement Offer
Mar 3, 2026
Horizon Gold Limited has launched a non-renounceable pro-rata entitlement offer to raise about $10.2 million through the issue of new fully paid ordinary shares at $1.20 per share. Eligible shareholders in Australia, New Zealand and Bermuda will b...
Horizon Gold Launches 1-for-20 Non-Renounceable Entitlement Offer at $1.20
Mar 3, 2026
Horizon Gold Limited has launched a non-renounceable pro-rata entitlement offer to existing shareholders, priced at $1.20 per new share on a one-for-twenty basis, with the offer period running from 12 March 2026 to 26 March 2026. The capital raise...
Horizon Gold Raises A$30m to Fast-Track Gum Creek Exploration and Development
Mar 3, 2026
Horizon Gold Limited has launched a A$30 million equity raising comprising a A$20 million institutional placement and a A$10.2 million non-renounceable entitlement offer at A$1.20 per share, attracting strong interest from leading gold investors. ...
Horizon Gold Seeks Trading Halt Ahead of Capital Raising Announcement
Mar 1, 2026
Horizon Gold Limited has requested and been granted a trading halt on its securities by the ASX, with the halt to remain in place until either the start of normal trading on 4 March 2026 or the release of a pending announcement. The pause in tradi...
Horizon Gold Extends High-Grade Mineralisation at Gum Creekâs Kingfisher Prospect
Feb 22, 2026
Horizon Gold has reported significant diamond drilling results from the Kingfisher prospect at its Gum Creek Gold Project in Western Australia, including high-grade intercepts such as 4 metres at 11.35 grams per tonne gold and multiple broader min...
Horizon Gold Director Leigh Ryan Steps Down but Retains Indirect Equity Stake
Feb 2, 2026
Horizon Gold Limited has notified the ASX that director Leigh Ronald Ryan ceased to be a director of the company on 2 February 2026, in accordance with listing rule disclosure requirements. While Ryan holds no Horizon securities in his own name, h...
Horizon Gold Appoints Scott Innes Williamson as Director with Performance Rights Package
Feb 2, 2026
Horizon Gold Limited has appointed Scott Innes Williamson as a director, effective 2 February 2026. Upon his appointment, Williamson holds 3,500,000 performance rights in the company, expiring on 2 February 2031, with no additional indirect securi...
Horizon Gold Issues 3.5 Million Unquoted Performance Rights
Feb 2, 2026
Horizon Gold Limited, listed on the ASX under the code HRN, has notified the market of the issue of new unquoted equity securities in the form of performance rights. The company is issuing 3.5 million unquoted performance rights, effective 2 Febru...
Horizon Gold Plans Issue of 3.5 Million Performance Rights
Jan 30, 2026
Horizon Gold Limited has lodged a notice with the ASX for a proposed issue of 3.5 million performance rights, creating a new class of securities, with an expected issue date of 2 February 2026. The move, structured as a placement or other type of ...
Horizon Gold Reshapes Leadership as New CEO Targets Gum Creek Growth
Jan 30, 2026
Horizon Gold Limited has appointed experienced mining engineer and capital markets professional Scott Williamson as Chief Executive Officer and Managing Director, effective 2 February 2026, as it prepares for the next growth phase at its Gum Creek...
Horizon Gold Lifts Gum Creek Resource and Advances Feasibility Study
Jan 29, 2026
Horizon Gold has reported an upgraded mineral resource estimate at its Gum Creek Gold Project to 37.97 million tonnes at 1.89 grams per tonne for 2.30 million ounces of gold, representing notable increases in both contained ounces and grade compar...
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.