Magnetite Mines Limited (AU:MGT)
ASX:MGT
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Magnetite Mines Limited
(Sydney:MGT)
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Select Model
Rating:41Neutral
Price Target:
AU$0.04
â–¼(-16.00% Downside)
Action:ReiteratedDate:03/04/26
The score is driven primarily by weak financial performance, with ongoing losses, declining revenue, and negative operating/free cash flow outweighing the benefit of relatively low leverage. Technicals also detract due to a clear downtrend, partially offset by oversold indicators. Valuation remains challenged because a negative P/E reflects lack of profitability.
Positive Factors
Conservative leverage
A relatively low debt-to-equity ratio reduces refinancing and interest risk for a capital-intensive developer. Over the next 2-6 months this conservatism preserves financial optionality to fund studies, permitting and early works without immediate pressure to service large debt burdens.
Negative Factors
Persistent losses
Chronic unprofitability erodes equity and requires ongoing external funding to sustain operations and development work. Over 2-6 months persistent losses increase dilution risk, limit reinvestment capacity, and weaken the company’s ability to demonstrate project economics to lenders or strategic partners.
Read all positive and negative factors
Positive Factors
Negative Factors
Conservative leverage
A relatively low debt-to-equity ratio reduces refinancing and interest risk for a capital-intensive developer. Over the next 2-6 months this conservatism preserves financial optionality to fund studies, permitting and early works without immediate pressure to service large debt burdens.
Read all positive factors
Magnetite Mines Limited (MGT) vs. iShares MSCI Australia ETF (EWA)
Market Cap
AU$11.47M
Dividend YieldN/A
Average Volume (3M)699.73K
Price to Earnings (P/E)―
Beta (1Y)0.98
Revenue GrowthN/A
EPS Growth34.89%
CountryAU
EmployeesN/A
SectorBasic Materials
Sector Strength58
IndustryIndustrial Materials
Share Statistics
EPS (TTM)-0.01
Shares Outstanding294,053,500
10 Day Avg. Volume428,909
30 Day Avg. Volume699,734
Financial Highlights & Ratios
PEG Ratio0.07
Price to Book (P/B)0.25
Price to Sales (P/S)7681.25
P/FCF Ratio-1.61
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
Magnetite Mines Limited Business Overview & Revenue Model
Company Description
Magnetite Mines Limited explores for mineral properties in South Australia. Its flagship project is Razorback Iron project that includes the Razorback Ridge, Iron Peak, and Ironback Hill deposits located in Adelaide, South Australia. The company w...
How the Company Makes Money
Magnetite Mines Limited generates revenue primarily through the sale of magnetite iron ore. The company's revenue model is centered around the extraction, processing, and marketing of iron ore, particularly targeting the high-grade segment of the ...
Magnetite Mines Limited Financial Statement Overview
Summary
Income Statement
10
Very Negative
Balance Sheet
30
Negative
Cash Flow
20
Very Negative
| Breakdown | TTM | Jun 2025 | Jun 2024 | Jun 2023 | Jun 2022 | Jun 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | -169.61K | 1.22K | 214.49K | 212.59K | 195.44K | 0.00 |
| Gross Profit | -256.65K | 1.22K | 214.49K | -43.09K | 88.69K | -9.19K |
| EBITDA | -3.52M | -4.06M | -4.35M | -4.94M | -3.45M | -1.62M |
| Net Income | -3.88M | -4.19M | -4.85M | -5.33M | -3.66M | -1.73M |
Balance Sheet | ||||||
| Total Assets | 43.30M | 41.30M | 38.23M | 38.97M | 45.79M | 29.70M |
| Cash, Cash Equivalents and Short-Term Investments | 2.82M | 1.49M | 1.21M | 5.13M | 19.35M | 16.59M |
| Total Debt | 2.61M | 3.20M | 117.33K | 2.42M | 2.21M | 1.98M |
| Total Liabilities | 3.50M | 4.31M | 1.38M | 3.66M | 6.44M | 2.81M |
| Stockholders Equity | 39.80M | 36.99M | 36.84M | 35.31M | 39.35M | 26.89M |
Cash Flow | ||||||
| Free Cash Flow | -3.87M | -5.82M | -7.25M | -13.86M | -12.26M | -4.31M |
| Operating Cash Flow | -2.45M | -2.81M | -3.67M | -3.87M | -2.29M | -1.13M |
| Investing Cash Flow | -1.99M | -2.91M | -3.77M | -9.98M | -10.04M | -3.17M |
| Financing Cash Flow | 6.23M | 5.99M | 3.52M | -358.20K | 15.10M | 20.06M |
Magnetite Mines Limited Technical Analysis
Negative
0.05
Price Trends
0.05
Negative
0.05
Negative
0.06
Negative
Market Momentum
>-0.01
Negative
29.95
Positive
57.14
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For AU:MGT, the sentiment is Negative. The current price of 0.05 is above the 20-day moving average (MA) of 0.04, above the 50-day MA of 0.05, and below the 200-day MA of 0.06, indicating a bearish trend. The MACD of >-0.01 indicates Negative momentum. The RSI at 29.95 is Positive, neither overbought nor oversold. The STOCH value of 57.14 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for AU:MGT.
Magnetite Mines Limited 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% | |
46 Neutral | AU$35.77M | -4.34 | -19.53% | ― | ― | 3.79% | |
45 Neutral | AU$14.44M | -3.54 | -14.48% | ― | ― | ― | |
43 Neutral | AU$11.25M | -8.89 | -6.35% | ― | ― | ― | |
43 Neutral | AU$34.32M | -2.58 | -5.94% | ― | -67.81% | -244.10% | |
42 Neutral | AU$9.54M | -1.85 | -21.57% | ― | ― | -114.29% | |
41 Neutral | AU$11.47M | -1.19 | -10.09% | ― | ― | 34.89% |
* Basic Materials Sector Average
AU:MGT
Magnetite Mines Limited
0.04
-0.09
-70.23%
AU:AMU
GTI Resources Ltd
0.11
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-12.50%
AU:AKO
Akora Resources Ltd.
0.08
-0.04
-32.52%
AU:VML
Vital Metals Ltd
0.15
0.08
141.67%
AU:CTN
Shree Minerals Limited
0.07
0.02
45.65%
AU:AR3
Australian Rare Earths Limited
0.14
0.06
79.49%
Magnetite Mines Limited Corporate Events
Green Iron SA Consortium Clarifies Port Pirie Iron Ore Export Pathway
Mar 22, 2026
The Green Iron SA consortium, which includes Magnetite Mines, has completed a high-level engineering assessment that maps out a potential iron ore export pathway at Port Pirie, running from train arrival through to ship loading at Flinders Ports&#...
Magnetite Mines Corrects Settlement Terms for Rights Issue Options
Mar 20, 2026
Magnetite Mines Limited has issued a correction to its recent announcement on the closing of its renounceable rights issue, clarifying the settlement basis for the options to be issued. The company now states that, subject to ASX quotation, the op...
Magnetite Mines presses shareholders as rights issue deadline nears
Mar 19, 2026
Magnetite Mines has reminded shareholders that its pro rata 1-for-2 renounceable rights issue, priced at 4 cents per share, will close at 5:00pm Sydney time on 25 March 2026, with all directors committing to participate. The offer includes one fre...
Magnetite Mines Secures Underexplored Manna Hill Gold Tenement in South Australia
Mar 18, 2026
Magnetite Mines Limited has secured Exploration Licence 7106 for the Manna Hill Gold Project in northeastern South Australia, about 100km from its Razorback Iron Ore Project. The 371 km² tenement contains historical small-scale gold workings ...
Magnetite Mines Files Interim Accounts for December 2025 Half-Year
Mar 13, 2026
Magnetite Mines Limited has released its interim financial statements for the half-year ended 31 December 2025, providing investors with updated information on its financial performance, position, and cash flows. The report, approved by the board ...
Magnetite Mines launches A$3.92m rights issue to fund Razorback and exploration push
Mar 10, 2026
Magnetite Mines has launched a renounceable pro-rata rights issue to raise up to A$3.92 million, offering one new share for every two held at A$0.040 with one free attaching option per new share, and allowing eligible shareholders to apply for add...
Magnetite Mines launches discounted $3.9m renounceable rights issue
Mar 10, 2026
Magnetite Mines Limited has launched a renounceable pro-rata rights issue to raise up to approximately $3.92 million before costs, offering eligible shareholders one new share for every two held at $0.04 per share, plus one free attaching option p...
Magnetite Mines Opens Renounceable Rights Issue With Attaching Options
Mar 10, 2026
Magnetite Mines Limited has opened a pro rata 1-for-2 renounceable rights issue with 1-for-1 attaching options to raise up to $3.92 million, partially underwritten to $0.8 million by Mahe Capital. All directors intend to participate, and eligible ...
Magnetite Mines Begins Trading Rights for Renounceable Offer on ASX
Mar 5, 2026
Magnetite Mines has begun trading rights associated with its recently announced renounceable rights issue on the ASX under the code MGTRH. Trading in these rights is scheduled to conclude on 18 March 2026, marking a key step in the company’s...
Magnetite Mines defines target market for free attaching options in rights issue
Mar 2, 2026
Magnetite Mines has issued a Target Market Determination for up to 98,017,838 free attaching options over its ordinary shares, to be offered to eligible shareholders who participate in a pro rata renounceable rights issue and associated shortfall ...
Magnetite Mines Launches $3.92m Renounceable Rights Issue to Advance Razorback and Exploration
Mar 2, 2026
Magnetite Mines has launched a renounceable pro-rata rights issue to raise up to approximately $3.92 million before costs, offering one new share for every two held at $0.040 per share, with one free attaching option for each new share, and a shor...
Magnetite Mines Plans Pro Rata Issue and Option Placement to Bolster Capital Base
Mar 2, 2026
Magnetite Mines Limited has announced a proposed renounceable pro rata issue of up to 98,017,838 ordinary fully paid shares, each accompanied by an option to acquire one share at an exercise price of $0.08 expiring 2.5 years from issue. The offer ...
Magnetite Mines launches partially underwritten rights issue to raise up to $3.92m
Mar 2, 2026
Magnetite Mines Limited has released a prospectus for a pro rata renounceable rights issue offering up to 98,017,838 new shares at $0.04 each, with one free attaching option per new share, on the basis of one share for every two held on the record...
Magnetite Mines Options Lapse After Unmet Conditions
Feb 4, 2026
Magnetite Mines reported that 167,940 MGTAC options exercisable at $0.78 and due to expire in 2029 have lapsed after the performance conditions became incapable of satisfaction on February 1, 2026. The cessation modestly trims potential future dil...
Magnetite Mines Advances Razorback Approvals and Green Iron Strategy Amid Expanded Exploration Push
Jan 30, 2026
Magnetite Mines reported steady progress at its flagship Razorback Iron Ore Project, expanding its strategic partnering efforts in line with accelerating global decarbonisation trends in the steel sector, particularly in China and the Middle East....
Magnetite Mines Director Paul White Increases Stake Through Fee-for-Shares Arrangement
Jan 23, 2026
Magnetite Mines Limited has disclosed a change in the interests of director Paul White, who has received 379,250 fully paid ordinary shares in the company issued in lieu of director fees for the period from 1 October 2025 to 31 December 2025. The ...
Magnetite Mines Pays Directors in Shares to Preserve Cash
Jan 23, 2026
Magnetite Mines has issued 547,805 fully paid ordinary shares to directors Paul White and Simon Wandke in lieu of a portion of their cash director fees for the quarter ended 31 December 2025, following shareholder approval at its November 2025 AGM...
Magnetite Mines Seeks ASX Quotation for New Incentive Scheme Shares
Jan 23, 2026
Magnetite Mines Limited has applied to the ASX for quotation of 547,805 new fully paid ordinary shares issued under its employee incentive scheme. The additional securities, which are not subject to transfer restrictions, modestly increase the com...
Magnetite Mines Secures Strategic Tenement Adjacent to Ironback Hill Rare Earths Prospect
Jan 7, 2026
Magnetite Mines has secured the Braemar Creek Exploration Licence EL7100 in South Australia, a 227 square kilometre tenement located immediately adjacent to the company’s Ironback Hill rare earths prospect and magnetite deposit. The licence ...
Magnetite Mines Options Lapse, Trimming Potential Dilution
Jan 5, 2026
Magnetite Mines Limited has updated the market on changes to its capital structure, confirming that 600,000 options with an exercise price of A$0.915, expiring on 15 December 2025 under the code MGTAM, have lapsed unexercised. The expiry of these ...
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.