Top Page
Horizon Minerals Ltd
(Sydney:HRZ)
Horizon Minerals Ltd (HRZ) vs. iShares MSCI Australia ETF (EWA)
Horizon Minerals Ltd Business Overview & Revenue Model
Horizon Minerals Ltd Financial Statement Overview
| Breakdown | TTM | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 36.85M | 36.85M | 6.61M | 81.88K | 3.32M | 17.85M |
| Gross Profit | -7.00M | 6.28M | 6.61M | 81.25K | 1.26M | 3.36M |
| EBITDA | -11.93M | -10.53M | -1.70M | -195.41K | -27.54M | 3.03M |
| Net Income | -23.85M | -23.85M | -3.46M | -1.01M | -28.03M | 2.45M |
Balance Sheet | ||||||
| Total Assets | 195.01M | 195.01M | 58.93M | 44.74M | 46.48M | 66.45M |
| Cash, Cash Equivalents and Short-Term Investments | 15.70M | 15.70M | 4.29M | 5.62M | 5.41M | 11.32M |
| Total Debt | 8.11M | 8.11M | 8.23M | 6.97M | 86.20K | 133.94K |
| Total Liabilities | 110.94M | 110.94M | 12.66M | 9.44M | 6.48M | 2.38M |
| Stockholders Equity | 84.07M | 84.07M | 46.27M | 35.29M | 40.00M | 64.07M |
Cash Flow | ||||||
| Free Cash Flow | -22.08M | -25.20M | -7.08M | -13.04M | -9.25M | -7.09M |
| Operating Cash Flow | -15.41M | -15.17M | -4.30M | -6.81M | -2.39M | 6.05M |
| Investing Cash Flow | -6.13M | -6.13M | 3.75M | -3.96M | -7.13M | -10.96M |
| Financing Cash Flow | 33.30M | 32.70M | -785.67K | 10.98M | 3.62M | 10.33M |
Horizon Minerals Ltd Technical Analysis
Horizon Minerals Ltd Peers Comparison
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
80 Outperform | AU$144.46M | 11.00 | 13.04% | 4.01% | 24.48% | 97.18% | |
68 Neutral | AU$1.04B | 24.12 | 22.29% | ― | 117.95% | ― | |
61 Neutral | $10.43B | 7.12 | -0.05% | 2.87% | 2.86% | -36.73% | |
48 Neutral | AU$252.71M | -5.54 | ― | ― | ― | ― | |
48 Neutral | AU$371.56M | -25.07 | -20.84% | ― | 11.43% | -238.93% | |
47 Neutral | AU$150.81M | -35.38 | -27.81% | ― | ― | -35.98% | |
45 Neutral | AU$214.54M | -16.80 | -454.45% | ― | ― | 15.86% |
Horizon Minerals Ltd Corporate Events
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 at least a five-year operation at 1.5Mtpa are largely complete, but recent gold price strength and the prospect of a mine life beyond five years have prompted the company to run additional scheduling scenarios at the plant’s higher nameplate capacity of 2.2Mtpa, pushing delivery of the study into the first half of the March 2026 quarter and signalling potential for a larger, longer-duration operation than originally envisaged.
The most recent analyst rating on (AU:HRZ) stock is a Hold with a A$0.07 price target. To see the full list of analyst forecasts on Horizon Minerals Ltd stock, see the AU:HRZ Stock Forecast page.
Horizon Minerals Limited has lodged an application with the ASX for the quotation of 820 new ordinary fully paid shares following the exercise or conversion of existing options or other convertible securities. The modest increase in quoted securities, effective 23 December 2025, slightly expands the company’s issued capital base but is not expected to materially affect its capital structure or shareholder positions.
The most recent analyst rating on (AU:HRZ) stock is a Hold with a A$0.07 price target. To see the full list of analyst forecasts on Horizon Minerals Ltd stock, see the AU:HRZ Stock Forecast page.
Horizon Minerals Limited has reported exceptional high-grade drill results from its Phase 1 drilling program at the Burbanks gold project. The results, including a remarkable intersection of 0.3m at 5,848g/t Au, underscore the project’s potential to expand high-grade gold resources. This development is pivotal for Horizon’s strategy to enhance high-margin gold feed to its Black Swan processing plant, potentially impacting its market positioning and stakeholder value.
The most recent analyst rating on (AU:HRZ) stock is a Hold with a A$0.07 price target. To see the full list of analyst forecasts on Horizon Minerals Ltd stock, see the AU:HRZ Stock Forecast page.
Horizon Minerals Limited has appointed Christian Price as General Manager of Corporate Development, a strategic move to bolster its growth strategy. With 20 years of experience in mining and corporate leadership, Price’s expertise is expected to enhance Horizon’s development opportunities and solidify its standing in the Eastern Goldfields of Western Australia.
The most recent analyst rating on (AU:HRZ) stock is a Hold with a A$0.07 price target. To see the full list of analyst forecasts on Horizon Minerals Ltd stock, see the AU:HRZ Stock Forecast page.
Black Cat Syndicate Limited has acquired 90 square kilometers of tenements near its Lakewood processing facility, a strategic move aimed at extending its tailings storage capacity to over 20 years and supporting a planned expansion of processing capacity to 1.5 million tonnes per annum. This acquisition is expected to facilitate increased gold production and operational growth, with a study on the expansion underway and results anticipated in the March 2026 quarter.
The most recent analyst rating on (AU:HRZ) stock is a Hold with a A$0.07 price target. To see the full list of analyst forecasts on Horizon Minerals Ltd stock, see the AU:HRZ Stock Forecast page.
Horizon Minerals Ltd has completed a consolidation of its issued capital on a fifteen-to-one basis, as approved by shareholders. This restructuring aims to streamline the company’s capital structure, with the post-consolidation capital consisting of 205,455,193 fully paid ordinary shares and various unquoted securities. This move is expected to enhance the company’s market positioning and potentially impact shareholder value positively. Trading of the consolidated securities will begin on December 18, 2025.
The most recent analyst rating on (AU:HRZ) stock is a Hold with a A$0.07 price target. To see the full list of analyst forecasts on Horizon Minerals Ltd stock, see the AU:HRZ Stock Forecast page.
Horizon Minerals Limited has signed a landmark Land Use Agreement with the Marlinyu Ghoorlie Native Title Claimant Group, covering the majority of its tenure in the eastern goldfields region of Western Australia. This agreement establishes protocols for heritage surveys and site protection, facilitating the advancement of Horizon’s projects while ensuring the protection of Aboriginal Cultural Heritage. The collaboration is aimed at fostering a relationship of goodwill and mutual respect, which is expected to positively impact Horizon’s operations and stakeholder relations.
The most recent analyst rating on (AU:HRZ) stock is a Hold with a A$0.07 price target. To see the full list of analyst forecasts on Horizon Minerals Ltd stock, see the AU:HRZ Stock Forecast page.
Horizon Minerals Limited announced a change in the director’s interest, specifically for Ashok Parekh, who has acquired 2,000,000 unlisted options at an exercise price of $0.12, expiring on 30 September 2028. This acquisition was approved by the company’s shareholders at the Annual General Meeting held on 28 November 2025, reflecting a strategic move to align the director’s interests with the company’s long-term goals and potentially impacting the company’s stock and stakeholder confidence.
The most recent analyst rating on (AU:HRZ) stock is a Hold with a A$0.07 price target. To see the full list of analyst forecasts on Horizon Minerals Ltd stock, see the AU:HRZ Stock Forecast page.
Horizon Minerals Limited announced the issuance of unquoted equity securities, including performance rights and options, as part of an employee incentive scheme. This move is likely aimed at motivating employees and aligning their interests with the company’s growth objectives, potentially impacting its operational efficiency and market competitiveness.
The most recent analyst rating on (AU:HRZ) stock is a Hold with a A$0.07 price target. To see the full list of analyst forecasts on Horizon Minerals Ltd stock, see the AU:HRZ Stock Forecast page.
Horizon Minerals Limited announced the results of its Annual General Meeting held on November 28, 2025, where all resolutions were passed by a poll. This outcome reflects strong shareholder support and is likely to positively impact the company’s strategic initiatives and governance, reinforcing its industry positioning and operational plans.
The most recent analyst rating on (AU:HRZ) stock is a Hold with a A$0.07 price target. To see the full list of analyst forecasts on Horizon Minerals Ltd stock, see the AU:HRZ Stock Forecast page.
Horizon Minerals Ltd held its Annual General Meeting on November 28, 2025, where it discussed various forward-looking statements regarding its future operations and financial performance. The company emphasized the inherent risks and uncertainties associated with its mineral resources and ore reserves estimates, highlighting potential challenges such as obtaining necessary licenses and permits, competition for resources, and market fluctuations. The company’s vision to become a ~100kozpa producer remains aspirational, dependent on factors like exploration success and feasibility studies.
The most recent analyst rating on (AU:HRZ) stock is a Hold with a A$0.07 price target. To see the full list of analyst forecasts on Horizon Minerals Ltd stock, see the AU:HRZ Stock Forecast page.
Horizon Minerals Ltd has announced the application for the quotation of 12,324 ordinary fully paid securities on the Australian Securities Exchange (ASX), with the issue date set for November 20, 2025. This move is part of the company’s strategic efforts to enhance its financial flexibility and strengthen its market position, potentially impacting stakeholders by increasing the liquidity of its shares.
The most recent analyst rating on (AU:HRZ) stock is a Buy with a A$0.13 price target. To see the full list of analyst forecasts on Horizon Minerals Ltd stock, see the AU:HRZ Stock Forecast page.
Horizon Minerals Ltd has provided an update on its Phillips Find and Boorara Gold Projects. At Phillips Find, the company has completed three processing campaigns, with mining nearing completion and ore stockpiled for processing. A Toll Milling Agreement has been executed to process high-grade ore, with treatment expected soon. At Boorara, mining is progressing well, but ore haulage has been reduced temporarily by the processing partner, delaying some cash flow into 2026. Despite this, the company anticipates strong cash flow from its stockpiles and a planned asset sale, strengthening its financial position.
The most recent analyst rating on (AU:HRZ) stock is a Buy with a A$0.13 price target. To see the full list of analyst forecasts on Horizon Minerals Ltd stock, see the AU:HRZ Stock Forecast page.
Horizon Minerals Limited has announced its participation in the RAAS Research Group Stock Take – Gold Special Webinar, scheduled for November 19, 2025. During the webinar, Horizon’s Managing Director and CEO, Grant Haywood, will present on the company’s operations and participate in a Q&A session, providing insights into the gold sector and the company’s strategic positioning. This event represents an opportunity for Horizon to engage with stakeholders and potentially strengthen its industry standing.
The most recent analyst rating on (AU:HRZ) stock is a Buy with a A$0.13 price target. To see the full list of analyst forecasts on Horizon Minerals Ltd stock, see the AU:HRZ Stock Forecast page.
Horizon Minerals Limited has announced the divestment of its Lake Johnston Project to Forrestania Resources Limited for $35 million. This strategic move allows Horizon to focus on its core assets, particularly the Black Swan project, by using the funds to advance its development and potential mergers and acquisitions. The transaction is expected to complete by January 2026, and Horizon retains a stake in the Lake Johnston Project through shares in Forrestania, thereby maintaining potential future upside.
The most recent analyst rating on (AU:HRZ) stock is a Buy with a A$0.13 price target. To see the full list of analyst forecasts on Horizon Minerals Ltd stock, see the AU:HRZ Stock Forecast page.
Horizon Minerals Ltd has issued 37,573,385 fully paid ordinary shares to Yandal Resources Limited as part of the acquisition of the Gordons Dam Project. Additionally, Horizon has received multiple unsolicited offers for its 100%-owned Lake Johnston project, which has a history of nickel production. The company is currently in negotiations regarding these offers, though no transaction has been finalized. The outcome of these negotiations could impact Horizon’s operations and market positioning, particularly in the nickel mining sector.
The most recent analyst rating on (AU:HRZ) stock is a Buy with a A$0.18 price target. To see the full list of analyst forecasts on Horizon Minerals Ltd stock, see the AU:HRZ Stock Forecast page.
Horizon Minerals Limited has completed the acquisition of the Gordons Dam Project from Yandal Resources Limited, encompassing 34 mining licenses over approximately 77 km2 in the Western Australian goldfields. This acquisition, which involved a cash payment and issuance of shares to Yandal, strategically enhances Horizon’s portfolio by adding prospective gold tenures near its Black Swan processing facility, positioning the company for future exploration and drilling activities in 2026.
The most recent analyst rating on (AU:HRZ) stock is a Buy with a A$0.18 price target. To see the full list of analyst forecasts on Horizon Minerals Ltd stock, see the AU:HRZ Stock Forecast page.
Horizon Minerals Ltd has announced the application for the quotation of 37,573,385 ordinary fully paid securities on the Australian Securities Exchange (ASX), as part of a previously announced transaction. This move is expected to enhance the company’s liquidity and provide additional capital for its ongoing projects, potentially strengthening its market position and offering benefits to its stakeholders.
The most recent analyst rating on (AU:HRZ) stock is a Buy with a A$0.18 price target. To see the full list of analyst forecasts on Horizon Minerals Ltd stock, see the AU:HRZ Stock Forecast page.
Horizon Minerals Ltd has announced the issuance of 49,215,850 fully paid ordinary shares to Nebari Gold Fund 1, LP at a price of $0.04 per share. This issuance serves as the final repayment of a Convertible Loan Facility approved by shareholders in 2022, marking the full repayment of the principal amount. Additionally, the company issued 51,378 shares following the exercise of unlisted options. These actions reflect Horizon’s compliance with relevant corporate regulations and signify a strategic financial maneuver to strengthen its capital structure.
The most recent analyst rating on (AU:HRZ) stock is a Buy with a A$0.18 price target. To see the full list of analyst forecasts on Horizon Minerals Ltd stock, see the AU:HRZ Stock Forecast page.
Horizon Minerals Limited has announced the issuance of 51,378 ordinary fully paid securities, which will be quoted on the Australian Securities Exchange (ASX) under the code HRZ. This move is part of the company’s strategy to optimize its capital structure and potentially improve its liquidity position, which could have implications for its operational capabilities and market competitiveness.
The most recent analyst rating on (AU:HRZ) stock is a Buy with a A$0.18 price target. To see the full list of analyst forecasts on Horizon Minerals Ltd stock, see the AU:HRZ Stock Forecast page.
Horizon Minerals Ltd has announced the issuance of 49,215,850 fully paid ordinary shares following a Notice of Conversion from the Nebari Gold Fund. This move is part of a Convertible Loan approved by shareholders, which could impact the company’s capital structure and potentially enhance its financial flexibility.
The most recent analyst rating on (AU:HRZ) stock is a Buy with a A$0.18 price target. To see the full list of analyst forecasts on Horizon Minerals Ltd stock, see the AU:HRZ Stock Forecast page.
Horizon Minerals Limited has announced the application for quotation of 165,213 ordinary fully paid securities on the Australian Securities Exchange. This move is part of the company’s strategy to enhance its financial flexibility and potentially fund future exploration and development projects, which could impact its market positioning and stakeholder interests.
The most recent analyst rating on (AU:HRZ) stock is a Buy with a A$0.18 price target. To see the full list of analyst forecasts on Horizon Minerals Ltd stock, see the AU:HRZ Stock Forecast page.
Horizon Minerals Ltd has announced a proposed consolidation of its capital on a 15-for-1 basis, pending shareholder approval at the upcoming Annual General Meeting. This move aims to reduce the number of shares to below one billion, creating a more effective capital structure and potentially attracting a broader range of investors. The consolidation will not materially affect individual shareholder percentages, and all options and performance rights will be adjusted accordingly.
The most recent analyst rating on (AU:HRZ) stock is a Buy with a A$0.18 price target. To see the full list of analyst forecasts on Horizon Minerals Ltd stock, see the AU:HRZ Stock Forecast page.
Horizon Minerals Limited announced a security consolidation affecting its ordinary fully paid shares, performance rights, and options. This consolidation is subject to shareholder approval at the upcoming Annual General Meeting, and trading in the post-consolidation securities will commence on a deferred settlement basis starting December 9, 2025. This move is expected to streamline the company’s capital structure, potentially enhancing its market positioning and operational efficiency.
The most recent analyst rating on (AU:HRZ) stock is a Buy with a A$0.18 price target. To see the full list of analyst forecasts on Horizon Minerals Ltd stock, see the AU:HRZ Stock Forecast page.
Horizon Minerals Ltd has announced its Annual General Meeting (AGM) for shareholders, scheduled to take place on November 28, 2025, in Perth, Western Australia. The company encourages shareholders to lodge proxy forms in advance and offers the option to submit questions prior to the meeting. This announcement emphasizes the company’s commitment to shareholder engagement and transparency, as well as its adaptation to digital communication methods for distributing meeting notices and other important documents.
The most recent analyst rating on (AU:HRZ) stock is a Buy with a A$0.18 price target. To see the full list of analyst forecasts on Horizon Minerals Ltd stock, see the AU:HRZ Stock Forecast page.
Horizon Minerals Limited has announced its Annual General Meeting (AGM) for shareholders, scheduled to take place on Friday, 28 November 2025, at 2.00pm (WST) in Perth, Western Australia. Shareholders are encouraged to participate in the voting process either in person, by proxy, or through an authorized representative, with proxy forms to be submitted no later than 48 hours before the meeting. This meeting is a key event for stakeholders to engage with the company’s strategic direction and governance.
The most recent analyst rating on (AU:HRZ) stock is a Buy with a A$0.18 price target. To see the full list of analyst forecasts on Horizon Minerals Ltd stock, see the AU:HRZ Stock Forecast page.
Horizon Minerals Ltd has outlined its strategic vision to become a ~100kozpa gold producer, although it acknowledges that this goal is aspirational and dependent on several factors including exploration success and resource definition. The announcement highlights the company’s ongoing efforts to expand its production capabilities and improve its financial performance, despite inherent risks and uncertainties in the mining sector.
The most recent analyst rating on (AU:HRZ) stock is a Buy with a A$0.18 price target. To see the full list of analyst forecasts on Horizon Minerals Ltd stock, see the AU:HRZ Stock Forecast page.
Horizon Minerals Ltd reported a positive cash flow from operating activities for the quarter ending September 30, 2025, driven by significant gold and ore sales totaling $41.9 million. The company also secured $18.2 million from equity securities, offsetting costs and investments in exploration and equipment, resulting in a net increase in cash and cash equivalents for the period.
The most recent analyst rating on (AU:HRZ) stock is a Buy with a A$0.18 price target. To see the full list of analyst forecasts on Horizon Minerals Ltd stock, see the AU:HRZ Stock Forecast page.
Horizon Minerals Limited reported continued safe gold production and revenue from its Boorara and Phillips Find operations, alongside ongoing drilling and engineering studies for the Black Swan Project. The company also acquired a 100% interest in the Gordons Project, enhancing its asset portfolio near the Black Swan processing facility. These activities are part of Horizon’s strategic focus on expanding its gold production capabilities and exploration efforts, which include accelerating the Burbanks drilling program and refurbishing the Black Swan facility into a gold plant.
The most recent analyst rating on (AU:HRZ) stock is a Buy with a A$0.18 price target. To see the full list of analyst forecasts on Horizon Minerals Ltd stock, see the AU:HRZ Stock Forecast page.
Horizon Minerals Limited has released its corporate governance statement for the financial year ending June 30, 2025, which is available on their website. The statement, approved by the board, outlines the company’s adherence to ASX Corporate Governance Council’s principles, detailing the extent of compliance and any deviations. This disclosure is crucial for stakeholders as it highlights the company’s commitment to transparency and accountability in its operations, potentially impacting investor confidence and market positioning.
The most recent analyst rating on (AU:HRZ) stock is a Buy with a A$0.18 price target. To see the full list of analyst forecasts on Horizon Minerals Ltd stock, see the AU:HRZ Stock Forecast page.
Horizon Minerals Limited has announced significant results from its ongoing drilling program at the Burbanks gold project, revealing high-grade gold intersections. The drilling, which began in June 2025, aims to enhance resource continuity and confidence, with the first phase focusing on infill drilling. These results underscore the potential of the Burbanks project to improve resource confidence and support development studies, ultimately providing high-grade feed to Horizon’s Black Swan processing plant.
The most recent analyst rating on (AU:HRZ) stock is a Buy with a A$0.12 price target. To see the full list of analyst forecasts on Horizon Minerals Ltd stock, see the AU:HRZ Stock Forecast page.