Medallion Metals Ltd (AU:MM8)
ASX:MM8
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Medallion Metals Ltd
(Sydney:MM8)
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Rating:46Neutral
Price Target:
AU$0.44
â–˛(3.81% Upside)
Action:ReiteratedDate:04/09/26
Overall score is held down primarily by weak financial performance: declining revenue, ongoing operating losses, and negative operating cash flow. Technicals are mixed (price above key moving averages but negative MACD), offering only modest support. Valuation is also constrained by a negative P/E tied to unprofitability, with no dividend yield data to improve the profile.
Positive Factors
Manageable leverage
A low debt-to-equity ratio (0.12) provides durable financial flexibility for a resource developer. Manageable leverage lowers default risk, preserves capacity to fund exploration or staged development, and supports negotiating power on off-take or project finance over the next 2–6 months.
Negative Factors
Declining revenue
A near-25% revenue decline is a durable structural concern: lower top-line undermines scale economics, reduces funds available for exploration and studies, and lengthens the path to self-sustaining operations, increasing dependency on external capital in the medium term.
Read all positive and negative factors
Positive Factors
Negative Factors
Manageable leverage
A low debt-to-equity ratio (0.12) provides durable financial flexibility for a resource developer. Manageable leverage lowers default risk, preserves capacity to fund exploration or staged development, and supports negotiating power on off-take or project finance over the next 2–6 months.
Read all positive factors
Medallion Metals Ltd (MM8) vs. iShares MSCI Australia ETF (EWA)
Market Cap
AU$354.20M
Dividend YieldN/A
Average Volume (3M)1.66M
Price to Earnings (P/E)―
Beta (1Y)1.03
Revenue Growth-100.00%
EPS Growth-52.08%
CountryAU
EmployeesN/A
SectorBasic Materials
Sector Strength58
IndustryOther Precious Metals
Share Statistics
EPS (TTM)-0.01
Shares Outstanding795,944,340
10 Day Avg. Volume1,879,966
30 Day Avg. Volume1,660,449
Financial Highlights & Ratios
PEG Ratio-0.37
Price to Book (P/B)4.38
Price to Sales (P/S)94.31
P/FCF Ratio-10.98
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price Target
AU$0.91Price Target Upside116.67% Upside
Rating ConsensusModerate Buy
Number of Analyst Covering2
EPS Forecast (FY)-0.01
Revenue Forecast (FY)N/A
Medallion Metals Ltd Business Overview & Revenue Model
Company Description
Medallion Metals Limited engages in mineral exploration activities in Australia. The company primarily explores for gold, silver, copper, lead, and zinc deposits. Its flagship property is the 100% owned Ravensthorpe gold project covering an area o...
How the Company Makes Money
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Medallion Metals Ltd Financial Statement Overview
Summary
Income Statement
45
Neutral
Balance Sheet
55
Neutral
Cash Flow
40
Negative
| Breakdown | TTM | Jun 2025 | Jun 2024 | Jun 2023 | Jun 2022 | Jun 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 366.94K | 1.11M | 1.86M | 3.03M | 2.14M | 503.47K |
| Gross Profit | 306.36K | 1.11M | 1.86M | 3.03M | 2.14M | 503.47K |
| EBITDA | -11.85M | -5.85M | -2.58M | -4.68M | -3.21M | -3.57M |
| Net Income | -12.14M | -6.13M | -2.94M | -5.09M | -3.60M | -3.77M |
Balance Sheet | ||||||
| Total Assets | 95.05M | 28.93M | 16.42M | 15.59M | 15.93M | 16.85M |
| Cash, Cash Equivalents and Short-Term Investments | 62.82M | 9.46M | 1.71M | 423.51K | 1.84M | 8.82M |
| Total Debt | 3.31M | 2.92M | 2.93M | 4.10M | 4.04M | 4.11M |
| Total Liabilities | 8.77M | 5.00M | 4.48M | 5.77M | 6.04M | 8.49M |
| Stockholders Equity | 86.28M | 23.93M | 11.94M | 9.82M | 9.89M | 8.36M |
Cash Flow | ||||||
| Free Cash Flow | -13.75M | -9.54M | -2.16M | -6.02M | -11.14M | -3.94M |
| Operating Cash Flow | -9.19M | -5.02M | -1.57M | -3.87M | -5.18M | -1.98M |
| Investing Cash Flow | -11.68M | -4.45M | -491.39K | -2.14M | -5.95M | -1.96M |
| Financing Cash Flow | 80.20M | 17.15M | 3.34M | 4.59M | 4.16M | 10.50M |
Medallion Metals Ltd Technical Analysis
Negative
0.42
Price Trends
0.42
Negative
0.43
Negative
0.41
Positive
Market Momentum
<0.01
Negative
50.31
Neutral
69.05
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For AU:MM8, the sentiment is Negative. The current price of 0.42 is above the 20-day moving average (MA) of 0.40, below the 50-day MA of 0.42, and above the 200-day MA of 0.41, indicating a neutral trend. The MACD of <0.01 indicates Negative momentum. The RSI at 50.31 is Neutral, neither overbought nor oversold. The STOCH value of 69.05 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for AU:MM8.
Medallion Metals 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% | |
46 Neutral | AU$354.20M | -10.61 | -22.04% | ― | -100.00% | -52.08% | |
| ― | AU$74.84M | -7.78 | -41.06% | ― | ― | -214.29% | |
47 Neutral | AU$81.44M | -3.23 | -52.73% | ― | ― | -643.11% | |
44 Neutral | AU$125.63M | -6.08 | -23.45% | ― | ― | 54.41% | |
42 Neutral | AU$41.48M | -14.39 | -14.46% | ― | ― | -19.57% |
* Basic Materials Sector Average
AU:MM8
Medallion Metals Ltd
0.42
0.17
68.00%
AU:LRM
Peak Minerals
0.02
0.01
120.00%
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Petratherm Ltd
0.11
-0.11
-50.00%
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Carnaby Resources Ltd.
0.47
0.22
86.00%
AU:OSM
Osmond Resources Limited
0.58
0.10
20.83%
Medallion Metals Ltd Corporate Events
Medallion Metals Seeks ASX Quotation for 716,167 New Shares
Mar 25, 2026
Medallion Metals Ltd has applied for quotation on the ASX of 716,167 new ordinary fully paid shares under its existing ticker MM8. The new securities, issued on 25 March 2026 following the exercise or conversion of existing instruments, will modes...
Medallion Metals Confirms Stability of Mineral Estimates in Interim 2025 Report
Mar 12, 2026
Medallion Metals Ltd has released its interim financial report for the half year ended 31 December 2025, detailing its consolidated profit or loss, financial position, cash flows and changes in equity. The report also reiterates that previously re...
Medallion Metals to Brief Investors After Forrestania Nickel Acquisition
Mar 5, 2026
Medallion Metals Limited has announced it will host an investor briefing webinar on 11 March 2026, giving shareholders and potential investors direct access to Managing Director Paul Bennett. The session follows the recent completion of the Forres...
IGO completes Forrestania asset sale to Medallion Metals while retaining key mineral rights
Mar 1, 2026
IGO Limited has completed the sale of the Forrestania Nickel Operations assets, including the Cosmic Boy processing plant, infrastructure and inventories, to Medallion Metals for no cash consideration, while retaining certain mineral rights. Under...
Medallion Metals Completes Forrestania Acquisition to Anchor Gold Hub
Feb 27, 2026
Medallion Metals has completed all conditions for its acquisition of the Forrestania Nickel Operation from IGO, with handover scheduled on 27 February 2026. The asset will be renamed the Forrestania Gold Project and will serve as the company’...
Medallion Metals Extends Deadline but Keeps Forrestania Nickel Deal on Track
Feb 22, 2026
Medallion Metals has reported further progress on its planned acquisition of the Forrestania Nickel Operation from IGO, noting that only a small number of conditions precedent remain outstanding, including third-party consents. The parties have ex...
Medallion Metals Wins Final Federal Environmental Approval for Ravensthorpe Gold Project
Feb 2, 2026
Medallion Metals has secured final approval under Australia’s Environment Protection and Biodiversity Conservation Act for its Ravensthorpe Gold Project, clearing the last primary environmental hurdle needed to advance its sulphide-focused u...
Medallion Metals Issues 15.2 Million New Shares Under Corporations Act Provisions
Jan 30, 2026
Medallion Metals Limited has issued 15,151,516 new ordinary shares, as previously flagged in an Appendix 2A filing on 30 January 2026. The company confirmed that the shares were issued without a formal disclosure document under the Corporations Ac...
Medallion Metals Seeks ASX Quotation for 15.2 Million New Shares
Jan 30, 2026
Medallion Metals Ltd has applied to the ASX for quotation of 15,151,516 new fully paid ordinary shares under its ticker MM8, with an issue date of 29 January 2026. The additional securities, issued following a previously announced transaction, wil...
Medallion Metals Clears Key Milestones at Ravensthorpe as Feasibility Study Confirms Strong Returns
Jan 30, 2026
Medallion Metals has completed the Feasibility Study for its Ravensthorpe Gold Project, confirming the technical robustness and strong economics of processing Ravensthorpe ore through the Forrestania infrastructure, with forecast production of 374...
Medallion Metals Director Increases Indirect Shareholding via Share Purchase Plan
Jan 27, 2026
Medallion Metals has disclosed a change in director John Fitzgerald’s indirect interests in the company’s shares following his participation in Medallion’s share purchase plan. Through two family-related accounts in which he is a...
Medallion Metals Shareholders Approve All Resolutions at General Meeting
Jan 27, 2026
Medallion Metals has reported that all resolutions put to shareholders at its 27 January 2026 general meeting were passed by the required majority, including the ratification of prior share issues under Listing Rules 7.1 and 7.1A and approval of T...
Medallion Metals Seeks ASX Quotation for 15.2 Million New Shares
Jan 23, 2026
Medallion Metals Ltd has applied to the ASX for quotation of 15,151,515 new ordinary fully paid shares under its issuer code MM8. The new securities, issued on 23 January 2026, expand the company’s quoted share capital, potentially affecting...
Medallion Metals’ Oversubscribed Share Plan Leaves Miner Well Funded for Project Development
Jan 21, 2026
Medallion Metals has completed its Share Purchase Plan, which was heavily oversubscribed relative to the A$5 million target, signalling strong backing from existing shareholders for the company’s strategy and asset base. After a pro-rata sca...
Medallion Metals to Release 796,954 Shares From Voluntary Escrow
Jan 14, 2026
Medallion Metals has announced that 796,954 fully paid ordinary shares will be released from voluntary escrow on 22 January 2026, in line with ASX Listing Rule 3.10A. The release of these shares will modestly increase the volume of tradable stock ...
Medallion Metals Updates Timetable for Share Purchase Plan and Securities Issue
Jan 14, 2026
Medallion Metals Ltd has updated its previously announced securities purchase plan and associated securities issue, advising the market that the closing date for the share purchase plan and the corresponding share issue date have been revised. The...
Medallion Metals Closes Oversubscribed Share Purchase Plan Early
Jan 14, 2026
Medallion Metals has announced that its recently launched Share Purchase Plan has been oversubscribed, with applications exceeding the $5 million targeted, prompting the board to close the offer early at 5:00pm AWST on 16 January 2026, ahead of th...
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.