Horizon Minerals Ltd (AU:HRZ)
ASX:HRZ
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Horizon Minerals Ltd
(Sydney:HRZ)
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Rating:43Neutral
Price Target:
AU$0.81
â–¼(-35.00% Downside)
Action:ReiteratedDate:03/20/26
The score is primarily driven by weak financial performance (sharp revenue deterioration, persistent losses, and negative operating cash flow) and bearish technical trends (price below all key moving averages with negative MACD). A low P/E provides some valuation support, but it is outweighed by the underlying operating and momentum risks.
Positive Factors
Conservative leverage
Very low debt-to-equity (0.096) provides durable financial flexibility, lowering refinancing risk and interest burden. For an exploration/development firm this preserves optionality to fund drilling or development windows and reduces solvency pressure over the next 2–6 months.
Negative Factors
Persistent negative margins
Consistent negative net and operating margins indicate the business is not generating profits from operations. Over the medium term this erodes equity, forces repeated capital raises, and constrains investment in resource definition or development without structural improvements to operations or revenue.
Read all positive and negative factors
Positive Factors
Negative Factors
Conservative leverage
Very low debt-to-equity (0.096) provides durable financial flexibility, lowering refinancing risk and interest burden. For an exploration/development firm this preserves optionality to fund drilling or development windows and reduces solvency pressure over the next 2–6 months.
Read all positive factors
Horizon Minerals Ltd (HRZ) vs. iShares MSCI Australia ETF (EWA)
Market Cap
AU$228.12M
Dividend YieldN/A
Average Volume (3M)11.24M
Price to Earnings (P/E)3.9
Beta (1Y)1.76
Revenue GrowthN/A
EPS GrowthN/A
CountryAU
Employees1
SectorBasic Materials
Sector Strength58
IndustryGold
Share Statistics
EPS (TTM)0.08
Shares Outstanding260,704,160
10 Day Avg. Volume13,597,938
30 Day Avg. Volume11,242,896
Financial Highlights & Ratios
PEG Ratio-0.01
Price to Book (P/B)1.92
Price to Sales (P/S)4.37
P/FCF Ratio-6.39
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)0.17
Revenue Forecast (FY)AU$151.50M
Horizon Minerals Ltd Business Overview & Revenue Model
Company Description
Horizon Minerals Limited engages in the exploration and development of mineral properties in Australia. It explores for gold, nickel, copper, vanadium, molybdenum, silver, and zinc deposits The company operates 100% owned gold projects in the Kalg...
How the Company Makes Money
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Horizon Minerals Ltd Financial Statement Overview
Summary
Income Statement
35
Negative
Balance Sheet
45
Neutral
Cash Flow
40
Negative
| Breakdown | TTM | Jun 2025 | Jun 2024 | Jun 2023 | Jun 2022 | Jun 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 97.63M | 36.85M | 6.61M | 81.88K | 3.32M | 17.85M |
| Gross Profit | 2.43M | 6.28M | 6.61M | 81.25K | 1.26M | 3.36M |
| EBITDA | -1.38M | -10.53M | -1.70M | -195.41K | -27.54M | 3.03M |
| Net Income | -3.59M | -23.85M | -3.46M | -1.01M | -28.03M | 2.45M |
Balance Sheet | ||||||
| Total Assets | 223.88M | 195.01M | 58.93M | 44.74M | 46.48M | 66.45M |
| Cash, Cash Equivalents and Short-Term Investments | 37.49M | 15.70M | 4.29M | 5.62M | 5.41M | 11.32M |
| Total Debt | 748.11K | 8.11M | 8.23M | 6.97M | 86.20K | 133.94K |
| Total Liabilities | 96.35M | 110.94M | 12.66M | 9.44M | 6.48M | 2.38M |
| Stockholders Equity | 127.53M | 84.07M | 46.27M | 35.29M | 40.00M | 64.07M |
Cash Flow | ||||||
| Free Cash Flow | -12.53M | -25.20M | -7.08M | -13.04M | -9.25M | -7.09M |
| Operating Cash Flow | -6.88M | -15.17M | -4.30M | -6.81M | -2.39M | 6.05M |
| Investing Cash Flow | -2.90M | -6.13M | 3.75M | -3.96M | -7.13M | -10.96M |
| Financing Cash Flow | 37.09M | 32.70M | -785.67K | 10.98M | 3.62M | 10.33M |
Horizon Minerals Ltd Technical Analysis
Negative
1.24
Price Trends
1.11
Negative
1.10
Negative
0.98
Negative
Market Momentum
-0.06
Negative
41.01
Neutral
41.73
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For AU:HRZ, the sentiment is Negative. The current price of 1.24 is above the 20-day moving average (MA) of 0.94, above the 50-day MA of 1.11, and above the 200-day MA of 0.98, indicating a bearish trend. The MACD of -0.06 indicates Negative momentum. The RSI at 41.01 is Neutral, neither overbought nor oversold. The STOCH value of 41.73 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for AU:HRZ.
Horizon Minerals Ltd Peers Comparison
UnderperformOutperform
Sector (61)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
75 Outperform | AU$123.42M | 3.56 | 14.07% | 4.01% | 24.48% | 97.18% | |
73 Outperform | AU$699.20M | 3.23 | 121.31% | ― | 117.95% | ― | |
61 Neutral | $10.43B | 7.12 | -0.05% | 2.87% | 2.86% | -36.73% | |
51 Neutral | AU$207.46M | -17.50 | -26.45% | ― | ― | -35.98% | |
49 Neutral | AU$242.92M | -4.78 | -8.87% | ― | ― | 15.86% | |
48 Neutral | AU$378.59M | 5.17 | -20.84% | ― | 11.43% | -238.93% | |
43 Neutral | AU$228.12M | 3.94 | -3.40% | ― | ― | ― |
* Basic Materials Sector Average
AU:HRZ
Horizon Minerals Ltd
0.88
0.04
4.17%
AU:BCN
Beacon Minerals
3.40
2.34
220.75%
AU:FML
Focus Minerals Ltd
2.44
2.22
1009.09%
AU:TGM
Theta Gold Mines
0.21
0.07
50.00%
AU:RND
Rand Mining Limited
2.17
0.52
31.75%
AU:VTM
Victory Goldfields Limited
1.58
1.20
315.79%
Horizon Minerals Ltd Corporate Events
Horizon Minerals Seeks ASX Quotation for 4.3 Million New Shares
Mar 17, 2026
Horizon Minerals has applied for quotation on the ASX of 4,306,909 new ordinary fully paid shares, with an issue date of 17 March 2026. The additional securities, issued under a previously announced transaction, will expand the company’s lis...
Horizon Minerals Raises $4.65m in Share Purchase Plan to Advance Black Swan Hub
Mar 16, 2026
Horizon Minerals has completed a Share Purchase Plan that raised approximately $4.65 million from eligible retail investors in Australia and New Zealand at $1.08 per share, matching the price of its recent institutional placement. The issue of 4,3...
Horizon Minerals Taps Veteran Project Director to Drive Black Swan Hub
Mar 15, 2026
Horizon Minerals has appointed experienced project engineer Doug Flanagan as Project Director to lead development of its Black Swan Processing Hub in Western Australia. Flanagan brings more than 26 years of global experience in mining, resources a...
Horizon Minerals to Use Boorara Ore Stockpiles to Commission Black Swan Hub
Mar 12, 2026
Horizon Minerals has completed the current phase of mining at its Boorara Gold Project, leaving 460,000 tonnes of stockpiled ore containing an estimated 14,200 ounces of gold on site. A previously in-place ore purchase agreement with the nearby Pa...
Horizon Minerals Among New Additions in S&P All Ordinaries Rebalance
Mar 10, 2026
SP Dow Jones Indices has updated its March 2026 quarterly rebalance for the All Ordinaries index, confirming that African Gold will not be added and American Rare Earths will remain, while a broad slate of resource, technology, medical and media c...
Horizon Minerals Flags Risks and Limits in New Investor Presentation
Mar 9, 2026
Horizon Minerals has released an investor presentation outlining its position as a prospective standalone gold producer in Western Australia’s Goldfields and summarising key information on its mineral resources and ore reserves. The document...
Horizon Minerals strengthens cash position as Phillips Find wraps up and funds Black Swan gold hub
Mar 9, 2026
Horizon Minerals has completed mining and toll treatment at the Phillips Find gold project, with five processing campaigns treating 225,988 tonnes at an average 2.02 g/t gold for 14,095 ounces produced, plus an additional lower-grade parcel yet to...
S&P Dow Jones Indices Sets Broad Shake-Up in March 2026 S&P/ASX Rebalance
Mar 6, 2026
SP Dow Jones Indices has announced its March 2026 quarterly rebalance of the SP/ASX index family, reshaping the composition of key Australian equity benchmarks ahead of trading on March 23. The changes span the SP/ASX 20, 50, 100, 200 and 300 indi...
Horizon orders long lead items to fast-track Black Swan gold conversion
Mar 5, 2026
Horizon Minerals has moved to accelerate the gold conversion of its Black Swan Processing Hub near Kalgoorlie by ordering key long lead items, including a pre-leach thickener and new SAG and ball mill motors with variable speed drives. These upgra...
Horizon Minerals Adds Small Parcel of Shares to Quoted Capital
Mar 5, 2026
Horizon Minerals has lodged an application with the ASX for the quotation of additional ordinary fully paid shares under code HRZ. The filing relates to the issue of 141 new securities on 5 March 2026, arising from the exercise or conversion of ex...
Horizon Minerals Calls EGM to Back Capital Raising and Rebrand to Maritana Minerals
Feb 26, 2026
Horizon Minerals has called an Extraordinary General Meeting for 7 April 2026, asking shareholders to approve a suite of capital-raising and governance resolutions that underpin its shift toward gold production. The agenda includes ratifying and c...
Horizon Minerals launches $10m share purchase plan alongside $175m placement
Feb 25, 2026
Horizon Minerals has launched a share purchase plan offering eligible Australian and New Zealand shareholders up to $30,000 in new shares at $1.08 each, matching the price of a recently announced $175 million institutional placement. The plan, tar...
Horizon Minerals Opens Share Purchase Plan to Eligible Investors
Feb 25, 2026
Horizon Minerals has opened the offer period for its latest Share Purchase Plan, allowing eligible shareholders in Australia and New Zealand who held shares on 16 February 2026 to subscribe for additional stock. Investors can apply for parcels bet...
Horizon Minerals Completes Share Placement and Flags Share Purchase Plan
Feb 25, 2026
Horizon Minerals has completed a placement of 50,891,510 fully paid ordinary shares at $1.08 each to local and offshore institutional and sophisticated investors, executed under ASX Listing Rules 7.1 and 7.1A. The company confirmed the shares were...
Horizon Minerals Seeks ASX Quotation for 50.9 Million New Shares
Feb 25, 2026
Horizon Minerals Ltd has applied to the ASX for quotation of 50,891,510 new ordinary fully paid shares, with an issue date of 25 February 2026. The securities arise from previously announced transactions and, once quoted, will expand the company&#...
Horizon Minerals Seeks ASX Quotation for Small Share Issue
Feb 20, 2026
Horizon Minerals Ltd has applied for quotation on the ASX of 728 new ordinary fully paid shares, following the exercise of options or conversion of other securities. The small-scale issuance marginally increases the company’s quoted capital ...
Horizon Minerals Lists Small Tranche of New Shares on ASX
Feb 11, 2026
Horizon Minerals Ltd has applied for quotation on the ASX of 2,569 new ordinary fully paid shares under its existing HRZ ticker, following the issue of these securities on February 11, 2026. The relatively small issuance, arising from the exercise...
Horizon Minerals Lets 20,001 Performance Rights Lapse
Feb 4, 2026
The company reported that 20,001 HRZAN performance rights lapsed on 4 February 2026 because vesting conditions were not met, trimming its outstanding rights pool but leaving ordinary shares unaffected. The cessation underscores tightened equity in...
Horizon Minerals Refreshes Corporate Secretariat With New Appointments
Feb 2, 2026
Horizon Minerals has strengthened its corporate governance team with the appointment of Isabel Macchia as Company Secretary and Brendan Shalders, the company’s Chief Financial Officer, as Joint Company Secretary, effective immediately. The m...
Horizon Minerals Upscales Black Swan Hub as Cash Flow and High-Grade Results Bolster Growth Plan
Jan 30, 2026
Horizon Minerals’ December quarter was dominated by progress on its Black Swan Processing Hub, with refurbishment studies upgraded from 1.5Mt per annum to 2.2Mt to leverage existing plant capacity and support a regional hub-and-spoke product...
Horizon Minerals Seeks ASX Quotation for Additional Ordinary Shares
Jan 28, 2026
Horizon Minerals Ltd has applied to the ASX for quotation of 21,956 new ordinary fully paid shares, expanding its issued capital under the HRZ ticker. The small parcel of securities arises from the exercise or conversion of existing options or oth...
Horizon Minerals Extends High-Grade Gold Intercepts at Burbanks as Phase 1 Drilling Advances
Jan 27, 2026
Horizon Minerals has reported further strong results from Phase 1 diamond drilling at its Burbanks gold project, with 75% of the 15,000m program now completed and recent assays confirming multiple high-grade gold intercepts, including 2.00m at 235...
Horizon Minerals Grants Long-Term Incentive Rights to Align Management with Shareholders
Jan 20, 2026
Horizon Minerals has granted 871,292 long-term incentive performance rights to senior management and staff under its shareholder-approved Employee Incentive Scheme and plans to issue an additional 355,406 rights to Managing Director and CEO Grant ...
Horizon Minerals Issues 871,292 Unquoted Performance Rights Under Employee Incentive Scheme
Jan 20, 2026
Horizon Minerals Limited has issued 871,292 unquoted performance rights under its employee incentive scheme, effective 20 January 2026. The new performance rights, which are not intended to be quoted on the ASX, serve to reward and retain key staf...
Horizon Minerals Seeks ASX Quotation for 16,746 New Ordinary Shares
Jan 16, 2026
Horizon Minerals Limited has applied for the quotation of 16,746 new ordinary fully paid shares on the Australian Securities Exchange, with an issue date of 16 January 2026. The modest increase in quoted securities, arising from the exercise or co...
Horizon Minerals Finalises $35m Sale Deal for Lake Johnston Project
Dec 31, 2025
Horizon Minerals has executed a formal Asset Sale Agreement, via its wholly owned subsidiary Poseidon Nickel, to divest its 100%-owned Lake Johnston Project to Forrestania Resources for total consideration of $35 million. The revised terms compris...
Horizon Delays Black Swan Feasibility to Test Higher-Throughput Gold Scenario
Dec 24, 2025
Horizon Minerals has revised the timeline for completing feasibility work on converting the Black Swan nickel processing plant into a gold plant and finalising a Life of Mine plan. The pre-feasibility study and associated mining studies to support...
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.