Orion Minerals Limited (ORN) AI Stock Analysis

• Market Cap: AU$276.96M
• Dividend Yield: N/A
• Average Volume (3M): 993.76K
• Price to Earnings (P/E): ―
• Beta (1Y): 1.14
• Revenue Growth: N/A
• EPS Growth: -88.89%
• Country: AU
• Employees: 13
• Sector: Basic Materials
• Sector Strength: 58
• Industry: Industrial Materials
• EPS (TTM): >-0.01
• Shares Outstanding: 8,145,901,400
• 10 Day Avg. Volume: 241,378
• 30 Day Avg. Volume: 993,765
• PEG Ratio: -0.06
• Price to Book (P/B): 0.67
• Price to Sales (P/S): 171.29
• P/FCF Ratio: -2.76
• Enterprise Value/Market Cap: N/A
• Enterprise Value/Revenue: N/A
• Enterprise Value/Gross Profit: N/A
• Enterprise Value/Ebitda: N/A
• 1Y Price Target: N/A
• Price Target Upside: N/A
• Rating Consensus: N/A
• Number of Analyst Covering: 0
• EPS Forecast (FY): >-0.01
• Revenue Forecast (FY): N/A

• Rating: 49 Neutral
• Price Target: AU$0.03 ▲(60.00% Upside)

The score is held back primarily by weak financial performance (ongoing losses and declining free cash flow despite strong revenue growth). Technicals are supportive with a clear uptrend, but overbought signals increase near-term risk. Valuation is constrained by negative earnings and no dividend yield data.

Positive Factors

Revenue Growth

Sustained top-line growth (43.1%) indicates improving commercial traction for Orion’s base‑metal assets and validates exploration/development progress. Over a multi‑month horizon, stronger revenues underpin project economics and de‑risk development funding if margins can be improved.

Conservative Leverage

A low debt-to-equity ratio provides financial flexibility to fund near-term project permitting and development activities without excessive leverage. This lowers refinancing and bankruptcy risk and supports longer runway for advancing Prieska and Okiep toward production.

Focused Asset Base

Concentrated ownership of two advanced South African base‑metal projects creates clear strategic focus. Successful technical studies, permitting and staged development could convert these deposits into durable cash-generating mines, aligning corporate resources to tangible project milestones.

Negative Factors

Negative Profitability

Persistent negative margins and operating losses undermine internal funding capacity and make self‑financing of capital‑intensive mine development unlikely. Over months, continued unprofitability increases dependence on external capital and raises dilution and execution risk.

Weak Cash Generation

Declining free cash flow and negative operating cash conversion limit the company’s ability to fund capex, advance studies, and meet development timelines. Structurally weak cash generation elevates financing needs and execution risk for multi‑stage mine builds over the next several months.

Negative Return on Equity

A negative ROE signals that invested capital is currently destroying shareholder value rather than creating it. Over a 2–6 month horizon this suggests limited internal returns from operations and increases pressure on management to improve margins or secure accretive financing.

Orion Minerals Limited Business Overview & Revenue Model

Company Description

Orion Minerals Limited explores for, evaluates, and develops mineral properties in Australia and South Africa. The company primarily explores for gold, zinc, copper, nickel, silver, and cobalt, as well as platinum group metals elements. Its flagship project is the Prieska copper-zinc project located in the Northern Cape province of South Africa. The company also holds interest in the Okiep copper project located in the north of Cape Town. In addition, it holds interest in the Namaqua-Disawell project; the Masiqhame project; and the Marydale project located in the Northern Cape province of South Africa. Further, the company holds interest in the Fraser Range project located in Western Australia; and the Walhalla project in Victoria, Australia. The company was incorporated in 2001 and is headquartered in Melbourne, Australia.

How the Company Makes Money

Orion Minerals generates revenue through the exploration, development, and eventual production of copper and zinc from its mining projects. The company's revenue model is primarily based on the extraction and sale of these minerals, which are in high demand due to their applications in various industries, including construction, electronics, and renewable energy. Key revenue streams include the sale of mined copper and zinc concentrates to various industrial customers and smelters. Additionally, Orion may benefit from strategic partnerships with other mining companies, joint ventures, and potential offtake agreements that secure buyers for its products in advance, thus providing financial stability and reducing market risk. The company also focuses on securing funding through equity raises and partnerships to support its development projects, which can further enhance its revenue-generating capabilities.

Orion Minerals Limited Financial Statement Overview

Summary

Strong revenue growth (43.12%) is offset by persistent profitability issues (net margin -30.82% with negative EBIT/EBITDA) and weakening cash generation (free cash flow growth -27.84%), despite relatively low leverage (debt-to-equity 0.39).

Income Statement

Orion Minerals Limited shows a significant revenue growth rate of 43.12% in the most recent year, which is a positive indicator. However, the company has consistently reported negative net profit margins, with the latest at -30.82%, indicating ongoing profitability challenges. The EBIT and EBITDA margins are also negative, reflecting operational inefficiencies.

Balance Sheet

The company's debt-to-equity ratio is relatively low at 0.39, suggesting a conservative leverage position. However, the return on equity is negative, indicating that the company is not generating profit from its equity base. The equity ratio is not explicitly provided, but the balance sheet shows a stable equity position relative to total assets.

Cash Flow

Orion Minerals Limited has a negative free cash flow growth rate of -27.84%, indicating declining cash generation capabilities. The operating cash flow to net income ratio is negative, suggesting that the company is not effectively converting its earnings into cash. However, the free cash flow to net income ratio is positive, indicating some level of cash flow generation relative to net losses.

Breakdown	TTM	Dec 2025	Dec 2024	Dec 2023	Dec 2022	Dec 2021
Income Statement
Total Revenue	385.00K	385.00K	381.00K	75.00K	58.00K	46.00K
Gross Profit	-66.00K	385.00K	381.00K	-97.00K	-87.00K	-49.00K
EBITDA	-12.38M	-12.38M	-4.98M	-16.52M	-15.09M	-1.71M
Net Income	-11.86M	-11.86M	-5.39M	-15.33M	-14.29M	-1.76M
Balance Sheet
Total Assets	143.22M	143.22M	136.60M	92.36M	89.64M	97.96M
Cash, Cash Equivalents and Short-Term Investments	208.00K	208.00K	8.27M	7.56M	4.29M	20.55M
Total Debt	38.27M	38.27M	25.86M	3.50M	4.08M	3.99M
Total Liabilities	56.72M	56.72M	43.66M	7.74M	8.74M	6.96M
Stockholders Equity	98.83M	98.83M	102.18M	92.87M	85.81M	94.68M
Cash Flow
Free Cash Flow	-23.91M	-23.91M	-28.96M	-13.92M	-17.61M	-10.99M
Operating Cash Flow	-7.88M	-7.88M	-12.07M	-9.96M	-12.93M	-9.13M
Investing Cash Flow	-16.00M	-16.00M	-18.25M	-4.43M	-5.04M	-1.89M
Financing Cash Flow	15.83M	15.83M	30.52M	18.35M	1.85M	30.16M

Orion Minerals Limited Technical Analysis

• Technical Analysis Sentiment: Positive
• Last Price: 0.02
• 50DMA: Positive
• 100DMA: Positive
• 200DMA: Positive
• MACD: Negative
• RSI: Negative
• STOCH: Neutral

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For AU:ORN, the sentiment is Positive. The current price of 0.02 is below the 20-day moving average (MA) of 0.02, below the 50-day MA of 0.02, and above the 200-day MA of 0.02, indicating a bullish trend. The MACD of <0.01 indicates Negative momentum. The RSI at 73.26 is Negative, neither overbought nor oversold. The STOCH value of 57.58 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for AU:ORN.

Orion Minerals Limited Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
Sector *	61 Neutral	$10.43B	7.12	-0.05%	2.87%	2.86%	-36.73%
AQD	51 Neutral	AU$101.03M	-52.50	-13.23%	―	―	-20.00%
ORN	49 Neutral	AU$276.96M	-20.00	-11.80%	―	―	-88.89%
QPM	49 Neutral	AU$141.97M	10.29	22.56%	―	64.66%	―
ETM	47 Neutral	AU$267.86M	-36.49	-24.97%	―	―	15.91%
IMA	47 Neutral	AU$60.88M	-4.82	-12.99%	―	―	―
AVL	44 Neutral	AU$86.70M	-7.25	-8.61%	―	―	42.69%

Orion Minerals Limited Corporate Events

Orion Minerals Flags Holiday Delay in Finalising Up to US$250m Glencore Financing

Orion Minerals has reported that documentation for a previously announced US$200 million to US$250 million financing package and associated concentrate offtake agreement with Glencore for the Prieska copper-zinc project is progressing, but has been delayed by year-end holidays. The company said finalisation of the funding and offtake arrangements, which are key to advancing development of the Prieska project, will be updated to the market early in the new year, signalling continued momentum but a modest shift in timing for this critical capital package.

The most recent analyst rating on (AU:ORN) stock is a Hold with a A$0.02 price target. To see the full list of analyst forecasts on Orion Minerals Limited stock, see the AU:ORN Stock Forecast page.

Orion Minerals Director Denis Waddell Ups Indirect Stake in $1m Share Subscription

Orion Minerals has disclosed a change in director Denis Waddell’s indirect interests following his participation in the company’s recent capital raising. Through associated entities Tarney Holdings Pty Ltd and the DP Waddell Superannuation Fund, Waddell acquired a total of 66,666,666 fully paid ordinary shares for $1 million at an issue price of $0.015 per share, as approved by shareholders at the 27 November 2025 AGM, significantly increasing his indirect shareholding while leaving his existing options unchanged. The transaction reflects strong director support for the capital raising initiative, increasing Waddell’s exposure to the company and signalling confidence that may be closely watched by investors assessing insider alignment and future corporate direction.

The most recent analyst rating on (AU:ORN) stock is a Hold with a A$0.02 price target. To see the full list of analyst forecasts on Orion Minerals Limited stock, see the AU:ORN Stock Forecast page.

Orion Minerals Raises A$1 Million via Chairman Placement and Issues Shares to Adviser

Orion Minerals has completed a further share issue under its previously announced placement, issuing 66.7 million new shares at 1.5 cents each to raise A$1 million from Chairman Denis Waddell or his nominee, following shareholder approval at the November 2025 AGM. In addition, the company has issued 7.85 million shares to South African adviser Webb Street Capital in lieu of cash fees for professional services related to the placement, aligning advisory compensation with shareholder interests and modestly increasing Orion’s equity base as it progresses its capital-raising strategy.

The most recent analyst rating on (AU:ORN) stock is a Hold with a A$0.02 price target. To see the full list of analyst forecasts on Orion Minerals Limited stock, see the AU:ORN Stock Forecast page.

Orion Minerals Seeks ASX Quotation for 66.7 Million New Shares

Orion Minerals has applied to the ASX for quotation of 66,666,666 new fully paid ordinary shares, scheduled for issue on 23 December 2025. The sizeable share quotation, tied to previously announced transactions, will expand the company’s listed capital base and may provide additional funding capacity or facilitate strategic arrangements as Orion advances its resource projects and seeks to strengthen its market position in the mining industry.

The most recent analyst rating on (AU:ORN) stock is a Hold with a A$0.02 price target. To see the full list of analyst forecasts on Orion Minerals Limited stock, see the AU:ORN Stock Forecast page.

Orion Minerals Seeks ASX Quotation for 7.8 Million New Shares

Orion Minerals Ltd has applied for quotation on the ASX of 7,845,294 additional ordinary fully paid shares under code ORN, with an issue date of 22 December 2025. The new securities, issued as part of previously announced transactions, will modestly expand the company’s listed share capital, potentially enhancing liquidity in its stock and supporting ongoing corporate or project funding initiatives.

The most recent analyst rating on (AU:ORN) stock is a Hold with a A$0.02 price target. To see the full list of analyst forecasts on Orion Minerals Limited stock, see the AU:ORN Stock Forecast page.

Orion Minerals Announces Proposed Issue of Securities

Orion Minerals Limited has announced a proposed issue of 7,845,294 ordinary fully paid securities, scheduled for December 23, 2025. This move is part of a placement or other type of issue, which could impact the company’s capital structure and potentially enhance its financial position, thereby influencing its strategic initiatives and market competitiveness.

The most recent analyst rating on (AU:ORN) stock is a Hold with a A$0.02 price target. To see the full list of analyst forecasts on Orion Minerals Limited stock, see the AU:ORN Stock Forecast page.

Orion Minerals Secures Shareholder Support at AGM

Orion Minerals Limited announced that all resolutions proposed at its Annual General Meeting were passed by a poll. This includes the re-election of board members and the ratification of prior share issues, which reflects strong shareholder support and positions the company for continued strategic initiatives. The successful passing of these resolutions is likely to positively impact Orion’s operational capabilities and investor confidence.

The most recent analyst rating on (AU:ORN) stock is a Hold with a A$0.02 price target. To see the full list of analyst forecasts on Orion Minerals Limited stock, see the AU:ORN Stock Forecast page.