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Horizon Gold Ltd
(Sydney:HRN)
Horizon Gold Ltd (HRN) vs. iShares MSCI Australia ETF (EWA)
Horizon Gold Ltd Business Overview & Revenue Model
Horizon Gold Ltd Financial Statement Overview
| Breakdown | Jun 2025 | Jun 2024 | Jun 2023 | Jun 2022 | Jun 2021 |
|---|---|---|---|---|---|
Income Statement | |||||
| Total Revenue | 0.00 | 65.00K | 135.00K | 136.00K | 17.00K |
| Gross Profit | -506.00K | -508.00K | -298.00K | -66.00K | -11.00K |
| EBITDA | -1.60M | -1.11M | -1.71M | -477.00K | -1.04M |
| Net Income | -972.00K | -1.71M | -2.14M | -487.00K | -1.07M |
Balance Sheet | |||||
| Total Assets | 48.30M | 44.10M | 40.75M | 41.97M | 36.44M |
| Cash, Cash Equivalents and Short-Term Investments | 503.00K | 219.00K | 238.00K | 211.00K | 1.27M |
| Total Debt | 500.00K | 0.00 | 41.00K | 40.00K | 0.00 |
| Total Liabilities | 14.77M | 12.15M | 11.94M | 11.50M | 11.56M |
| Stockholders Equity | 33.53M | 31.96M | 28.80M | 30.47M | 24.88M |
Cash Flow | |||||
| Free Cash Flow | -5.37M | -2.59M | -5.91M | -6.20M | -3.78M |
| Operating Cash Flow | -791.00K | -755.00K | -646.00K | -637.00K | -1.25M |
| Investing Cash Flow | 575.00K | -5.00M | 237.00K | -6.37M | -7.03M |
| Financing Cash Flow | 500.00K | 5.74M | 436.00K | 5.95M | 9.38M |
Horizon Gold Ltd Technical Analysis
Horizon Gold Ltd Peers Comparison
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$176.32M | -4.29 | -8.73% | ― | ― | ― | |
51 Neutral | AU$220.54M | -16.72 | -2.97% | ― | ― | 42.74% | |
49 Neutral | AU$196.87M | -5.69 | -18.74% | ― | ― | 14.63% | |
48 Neutral | $264.49M | -6.58 | -13.03% | ― | ― | ― | |
46 Neutral | AU$134.70M | -7.49 | -31.98% | ― | ― | -700.00% |
Horizon Gold Ltd Corporate Events
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 the company’s funding position for its gold exploration and development activities and could lead to dilution for existing shareholders.
The placement reflects Horizon Gold’s ongoing use of equity markets to support its operational and growth plans within the gold sector. Investor response to the issue and subsequent quotation of the new shares on the ASX will be important in determining the company’s financing flexibility and market valuation in the near term.
The most recent analyst rating on (AU:HRN) stock is a Hold with a A$1.50 price target. To see the full list of analyst forecasts on Horizon Gold Ltd stock, see the AU:HRN Stock Forecast page.
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 be able to subscribe for one new share for every 20 shares held on the 9 March 2026 record date, with the new shares ranking equally with existing stock.
The company has determined that shareholders outside these jurisdictions are ineligible to participate, citing legal and regulatory constraints and the cost of compliance relative to the small number and value of affected holdings. The offer is not underwritten, meaning the final amount raised will depend on take-up by eligible investors, which could influence Horizon Gold’s funding flexibility and capital structure without diluting offshore holders via this specific offer.
The most recent analyst rating on (AU:HRN) stock is a Hold with a A$1.50 price target. To see the full list of analyst forecasts on Horizon Gold Ltd stock, see the AU:HRN Stock Forecast page.
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 is being conducted under section 708AA of the Corporations Act without a prospectus, and the company stresses that investors should rely on its existing ASX disclosures and obtain professional advice before deciding whether to participate.
The offer is only available to eligible shareholders, who must apply and pay via BPAY or EFT using the details on their personalised entitlement and acceptance form. Horizon Gold notes the document may not contain all information investors might require, will not be updated, and urges potential investors to conduct their own due diligence and consider the risk factors referenced in the materials before subscribing for new shares.
The most recent analyst rating on (AU:HRN) stock is a Hold with a A$1.50 price target. To see the full list of analyst forecasts on Horizon Gold Ltd stock, see the AU:HRN Stock Forecast page.
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. Major shareholder Zeta Resources and the company’s directors intend to take up their full entitlements, signalling confidence in the strategy and accounting for about 76% of the entitlement offer.
Proceeds will fund an 80,000-metre drilling campaign to expand resources at the Gum Creek Gold Project, completion of the feasibility study and permitting, and general working capital, leaving Horizon fully funded to a final investment decision. The enlarged exploration program, focused on both shallow oxide and high-grade underground targets along the Gidgee Shear Zone, is intended to unlock further resource upside and accelerate the company’s pathway to gold production, potentially strengthening its position in the Australian gold sector.
The most recent analyst rating on (AU:HRN) stock is a Hold with a A$1.50 price target. To see the full list of analyst forecasts on Horizon Gold Ltd stock, see the AU:HRN Stock Forecast page.
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 trading comes as the company prepares to disclose details of a planned capital raising, signalling an imminent move to secure additional funding that could influence its project pipeline and balance sheet.
The company has stated it is not aware of any reason the halt should not be granted and has indicated there is no other relevant information to add at this stage. The trading suspension, authorised by the board, will be closely watched by investors as it may lead to changes in Horizon Gold’s capital structure and could affect existing shareholders depending on the size and terms of the capital raising.
The most recent analyst rating on (AU:HRN) stock is a Hold with a A$1.50 price target. To see the full list of analyst forecasts on Horizon Gold Ltd stock, see the AU:HRN Stock Forecast page.
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 mineralised zones at depth. The drilling confirms the company’s geological model at Kingfisher, extends high-grade mineralisation down plunge to the north of the existing resource, and supports plans for further deep infill and extensional drilling that could materially expand the current open pit and underground resource base and strengthen the project’s long-term development potential.
The latest seven-hole diamond program, totalling 3,745.2 metres, targeted high-priority down-plunge extensions to earlier standout intercepts and has already delivered strong results from the first four holes, with assays from the remaining holes still pending. Management says Kingfisher is shaping up to be substantially larger than previously envisaged, and together with ongoing drilling at the nearby Omega prospect, the company is building a pipeline of results that may enhance Gum Creek’s underground mining optionality and overall attractiveness to investors and potential partners.
The most recent analyst rating on (AU:HRN) stock is a Hold with a A$1.00 price target. To see the full list of analyst forecasts on Horizon Gold Ltd stock, see the AU:HRN Stock Forecast page.
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, he retains an indirect interest through the Ryan Super Fund account, which holds 79,200 fully paid ordinary shares and 1.5 million options exercisable at $0.33 each expiring in November 2026, indicating that he maintains a financial exposure to the company despite stepping down from the board.
The most recent analyst rating on (AU:HRN) stock is a Hold with a A$1.00 price target. To see the full list of analyst forecasts on Horizon Gold Ltd stock, see the AU:HRN Stock Forecast page.
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 security interests or contract-related interests disclosed. The issuance of a substantial tranche of performance rights aligns the new director’s incentives with shareholder value creation and signals a long-term commitment to Horizon Gold’s strategic and operational objectives.
The most recent analyst rating on (AU:HRN) stock is a Hold with a A$1.00 price target. To see the full list of analyst forecasts on Horizon Gold Ltd stock, see the AU:HRN Stock Forecast page.
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 February 2026, which are not intended to be quoted on the ASX, indicating an equity-based incentive or compensation arrangement that could impact the firm’s capital structure and align interests between the company and eligible stakeholders over time.
The most recent analyst rating on (AU:HRN) stock is a Hold with a A$1.00 price target. To see the full list of analyst forecasts on Horizon Gold Ltd stock, see the AU:HRN Stock Forecast page.
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 issue, signals the company’s use of equity-linked incentives to support its capital management and alignment of interests between the company and its stakeholders, although detailed terms and specific strategic objectives for the performance rights were not disclosed in the filing.
The most recent analyst rating on (AU:HRN) stock is a Hold with a A$0.91 price target. To see the full list of analyst forecasts on Horizon Gold Ltd stock, see the AU:HRN Stock Forecast page.
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 Gold Project. Williamson brings more than two decades of operational, corporate and investor-facing experience across gold, base metals and nickel projects in Australia, Africa and Southeast Asia, most recently as Managing Director of Blackstone Minerals. As part of a broader management reshuffle, incumbent Managing Director Leigh Ryan will resign from the board and transition to General Manager – Exploration to focus on expanding Gum Creek’s resource base, while Peter Sullivan will move from Executive Chairman to Non-executive Chairman. The board positions the leadership changes as strengthening both corporate stewardship and technical focus, aiming to accelerate the project’s pathway to production and support continued resource growth for shareholders.
The most recent analyst rating on (AU:HRN) stock is a Hold with a A$0.91 price target. To see the full list of analyst forecasts on Horizon Gold Ltd stock, see the AU:HRN Stock Forecast page.
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 compared with the previous estimate. The company highlighted a substantial rise in indicated resources, a large free-milling component, and the fact that all resources sit on granted mining leases that remain open along strike and at depth, underscoring potential for further growth. Recent reverse circulation and diamond drilling at the Goldfinch, Robin, Kingfisher and Omega prospects has returned significant shallow intercepts and is targeting down-plunge extensions of prior high-grade hits, with several assay results still pending. Horizon also confirmed that work on the Gum Creek feasibility study is advancing on schedule toward completion in the first half of 2026, marking a key step in de-risking and progressing the project toward potential development for stakeholders.
The most recent analyst rating on (AU:HRN) stock is a Hold with a A$0.91 price target. To see the full list of analyst forecasts on Horizon Gold Ltd stock, see the AU:HRN Stock Forecast page.