Ora Gold Ltd. (AU:NMG)
ASX:NMG
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Ora Gold
(Sydney:NMG)
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Rating:55Neutral
Price Target:
AU$0.05
â–¼(-2.00% Downside)
Action:ReiteratedDate:03/24/26
The score is supported by the sharp improvement in profitability and a strong, low-leverage balance sheet. It is held back by poor cash-flow conversion (negative operating and free cash flow), weak technical momentum (below key moving averages with negative MACD), and a high P/E with no dividend support.
Positive Factors
Very low leverage / strong balance sheet
Extremely low leverage gives the company durable financial flexibility to withstand operating volatility and support near-term funding needs without immediate refinancing. This balance sheet strength underpins capital allocation for growth or exploration and reduces solvency risk.
Negative Factors
Weak cash-flow conversion
Persistent negative operating and free cash flow despite reported profitability shows earnings are not translating to cash. Over months this forces reliance on external funding or asset sales, increases refinancing and dilution risk, and constrains capital for growth or capex.
Read all positive and negative factors
Positive Factors
Negative Factors
Very low leverage / strong balance sheet
Extremely low leverage gives the company durable financial flexibility to withstand operating volatility and support near-term funding needs without immediate refinancing. This balance sheet strength underpins capital allocation for growth or exploration and reduces solvency risk.
Read all positive factors
Ora Gold (NMG) vs. iShares MSCI Australia ETF (EWA)
Market Cap
AU$521.48M
Dividend YieldN/A
Average Volume (3M)39.84M
Price to Earnings (P/E)59.6
Beta (1Y)0.38
Revenue GrowthN/A
EPS GrowthN/A
CountryAU
Employees9
SectorBasic Materials
Sector Strength58
IndustryIndustrial Materials
Share Statistics
EPS (TTM)<0.01
Shares Outstanding10,864,241,000
10 Day Avg. Volume23,875,238
30 Day Avg. Volume39,844,266
Financial Highlights & Ratios
PEG Ratio-0.26
Price to Book (P/B)4.90
Price to Sales (P/S)15.90
P/FCF Ratio-27.29
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price Target
AU$0.07Price Target Upside34.20% Upside
Rating ConsensusModerate Buy
Number of Analyst Covering1
EPS Forecast (FY)N/A
Revenue Forecast (FY)N/A
Ora Gold Business Overview & Revenue Model
Company Description
New Murchison Gold Limited engages in the mineral exploration activities in Australia. The company explores for gold. Its flagship property is the Garden Gully property consisting of 677 square kilometers tenure package located in the Abbotts Gree...
How the Company Makes Money
null...
Ora Gold Financial Statement Overview
Summary
Income Statement
74
Positive
Balance Sheet
88
Very Positive
Cash Flow
28
Negative
| Breakdown | Sep 2025 | Sep 2024 | Sep 2023 | Sep 2022 | Sep 2021 |
|---|---|---|---|---|---|
Income Statement | |||||
| Total Revenue | 17.96M | 13.75K | 24.03K | 378.00 | 2.00K |
| Gross Profit | 8.34M | 0.00 | 24.03K | -12.57K | -19.22K |
| EBITDA | 7.16M | -2.59M | -1.97M | -2.05M | -2.18M |
| Net Income | 4.79M | -2.71M | -2.16M | -2.31M | -2.40M |
Balance Sheet | |||||
| Total Assets | 77.11M | 14.75M | 7.11M | 243.69K | 367.26K |
| Cash, Cash Equivalents and Short-Term Investments | 19.75M | 3.39M | 2.30M | 108.74K | 257.45K |
| Total Debt | 479.43K | 112.27K | 165.36K | 4.32M | 3.46M |
| Total Liabilities | 18.87M | 1.09M | 2.14M | 4.64M | 3.77M |
| Stockholders Equity | 58.24M | 13.66M | 4.97M | -4.39M | -3.40M |
Cash Flow | |||||
| Free Cash Flow | -10.47M | -3.24M | -4.10M | -2.06M | -2.20M |
| Operating Cash Flow | -3.80M | -3.18M | -765.88K | -905.95K | -1.03M |
| Investing Cash Flow | -18.00M | -6.17M | -3.67M | -1.14M | -1.17M |
| Financing Cash Flow | 38.15M | 10.44M | 6.63M | 1.90M | 722.50K |
Ora Gold Peers Comparison
UnderperformOutperform
Sector (61)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
72 Outperform | AU$440.28M | 4.68 | 14.39% | ― | 10.84% | ― | |
61 Neutral | $10.43B | 7.12 | -0.05% | 2.87% | 2.86% | -36.73% | |
55 Neutral | AU$521.48M | 59.59 | 10.14% | ― | ― | ― | |
49 Neutral | AU$241.87M | 8.70 | -20.24% | ― | ― | 4.04% | |
46 Neutral | AU$555.18M | -19.31 | -16.86% | ― | ― | ― | |
45 Neutral | AU$100.03M | -6.69 | -13.64% | ― | ― | 81.03% | |
| ― | AU$40.19M | -2.47 | -59.66% | ― | ― | -139.39% |
* Basic Materials Sector Average
AU:NMG
Ora Gold
0.05
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200.00%
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Aurelia Metals
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African Gold Ltd.
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Monger Gold Ltd.
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304.55%
AU:AUE
Aurum Resources Limited
0.60
0.27
81.82%
Ora Gold Corporate Events
New Murchison Gold Issues 20 Million Unquoted Options Expiring 2029
Mar 31, 2026
New Murchison Gold Limited has notified the market of the issue of 20,000,000 unquoted options exercisable at $0.062 and expiring on March 30, 2029. The new options, to be issued on March 30, 2026, expand the company’s pool of unquoted equit...
New Murchison Gold adds veteran engineer Mark Adams to board amid production ramp-up
Mar 30, 2026
New Murchison Gold has strengthened its board with the appointment of veteran mining engineer Mark Adams as an independent non-executive director, adding more than 40 years of technical and operational experience across major Australian and intern...
New Murchison Gold Wins Strong Shareholder Backing at 2025 AGM
Feb 27, 2026
New Murchison Gold Limited has reported that all four resolutions put to shareholders at its 2025 Annual General Meeting on 27 February 2026 were passed by poll with the required majorities. Investors approved the remuneration report, confirmed th...
New Murchison Gold Cements Producer Status as Crown Prince Hits Steady-State Output
Feb 27, 2026
New Murchison Gold Limited’s latest annual general meeting marked a pivotal year in which the company completed its transformation from explorer to gold producer, bringing the Crown Prince Gold Project into production without debt after rais...
Ora Gold Updates Market on Director Malcolm Randall’s Revised Shareholding
Feb 5, 2026
Ora Gold has disclosed a change in the indirect interests of director Malcolm R. J. Randall, held through Renique Holdings Pty Ltd as trustee for the Randall Super Fund. Over the period from 29 January to 3 February 2026, Randall exercised 5 milli...
New Murchison Gold Issues 22m Shares via Option Exercise
Feb 4, 2026
New Murchison Gold disclosed that 22 million fully paid ordinary shares were issued after vested option exercises, executed without a prospectus under the Corporations Act. The company emphasizes compliance with continuous disclosure obligations a...
New Murchison Gold posts strong first full production quarter at Crown Prince
Jan 26, 2026
New Murchison Gold reported a strong first full quarter of production from its Crown Prince Gold Mine to 31 December 2025, with mining centred on the stage 1 open pit and progressive integration of the stage 2 pit planned for the first half of 202...
New Murchison Gold Moves AGM Communications Online, Urges Paperless Voting
Jan 23, 2026
New Murchison Gold Limited has convened its Annual General Meeting for 27 February 2026 in West Perth, Western Australia, and is transitioning to primarily electronic distribution of meeting materials in accordance with Australian corporate law. S...
New Murchison Gold Issues 20m Shares on Option Exercise
Jan 21, 2026
New Murchison Gold Limited has issued 20 million fully paid ordinary shares following the exercise of vested options, modestly increasing its share base as it advances its gold exploration activities. The company confirmed the shares were issued w...
New Murchison Gold Seeks ASX Quotation for 20 Million New Shares
Jan 21, 2026
New Murchison Gold Limited has applied to the ASX for quotation of 20 million new ordinary fully paid shares, issued on 20 January 2026. The additional securities, arising from the exercise of options or conversion of other instruments, will expan...
New Murchison Gold posts strong first full quarter at Crown Prince mine
Jan 20, 2026
New Murchison Gold Limited reported a strong first full quarter of production from its Crown Prince Gold Mine, selling 184,746 dry tonnes of crushed ore at an agreed grade of 4.0g/t gold and 95.9% recovery, equating to 22,766 ounces of gold delive...
New Murchison Gold Aligns Reporting and Governance as It Transitions to Gold Producer
Jan 19, 2026
New Murchison Gold Limited has announced a series of corporate and reporting changes as it transitions from gold explorer to producer, including shifting its financial year-end from 30 September to 30 June to bring its reporting timetable into lin...
New Murchison Gold Issues Over 1.1 Million Unquoted Performance Rights Under Incentive Plan
Jan 16, 2026
New Murchison Gold Limited has notified the market of the issue of 1,162,046 unquoted performance rights under its employee incentive scheme, effective 15 January 2026. The new securities, which will not be quoted on the ASX, are part of the compa...
New Murchison Gold Flags Lydia Prospect as Potential Boost to Crown Prince Operations
Jan 12, 2026
New Murchison Gold has reported high-grade drilling results from the Lydia gold prospect, located on a granted mining lease about 800 metres west of its Crown Prince Gold Mine in Western Australia. Recent reverse circulation and diamond drilling a...
New Murchison Gold Sets AGM Date and Deadline for Board Nomination
Jan 5, 2026
New Murchison Gold Limited has scheduled its Annual General Meeting for 10:00am AWST on Friday, 27 February 2025, with details on venue and resolutions to be provided in a forthcoming notice to shareholders via the ASX platform and the companyR...
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.