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Peel Mining Limited (AU:PEX)
ASX:PEX

Peel Mining Limited (PEX) AI Stock Analysis

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AU:PEX

Peel Mining Limited

(Sydney:PEX)

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Neutral 45 (OpenAI - 5.2)
,
Neutral 45 (OpenAI - 5.2)
,
Neutral 45 (OpenAI - 5.2)
Rating:45Neutral
Price Target:
AU$0.13
▼(-5.71% Downside)
Action:ReiteratedDate:03/17/26
The score is primarily constrained by ongoing losses and persistently negative free cash flow, which elevate execution and funding risk. A debt-free, equity-supported balance sheet helps reduce financial risk, but weak technical momentum and a negative P/E (with no dividend data) limit support from market trend and valuation.
Positive Factors
Balance Sheet Strength
A debt-free balance sheet with ~107M equity backing ~109M assets materially reduces financial distress risk and gives the company structural flexibility. Over a 2-6 month horizon this supports funding exploration, negotiating JVs or farm-outs, and absorbing cash burn without immediate default risk.
Polymetallic Project Diversification
Operating across multiple base and precious metals provides durable strategic optionality: exposure to several commodity markets reduces dependence on any single metal, increases potential partner interest, and offers multiple monetisation paths (production, sale, royalties) over medium term.
Revenue Rebound
A sharp revenue rebound indicates early commercialisation or successful asset activity and can signal improving project maturity. While still small, sustained revenue growth improves the firm's ability to attract partners, reduces absolute funding needs, and demonstrates some operational traction vs prior years.
Negative Factors
Persistent Negative Cash Flow
Consistent negative operating and free cash flows create an ongoing funding requirement that elevates execution risk. Over the medium term the company will likely need external capital or partners to sustain exploration and development, increasing dilution risk and creating dependency on capital markets or JV terms.
Loss-Making Operations
Continued negative EBIT and net losses indicate margins are not yet sustainable and the business remains in an investment phase. This limits internal reinvestment capacity, deters some lenders/partners and means profitability depends on successful resource conversion or asset sales, which carry execution risk.
Dependence on External Financing
Reliance on equity raises or asset monetisation for funding is structurally dilutive and subject to market access and timing. Over months, this dependence can constrain strategic choices, force unfavourable deal terms, and expose the company to capital market volatility that may delay project advancement.

Peel Mining Limited (PEX) vs. iShares MSCI Australia ETF (EWA)

Peel Mining Limited Business Overview & Revenue Model

Company DescriptionPeel Mining Limited engages in the exploration of base and precious metals in the Cobar Region of New South Wales, Australia. The company explores for copper, zinc, lead, silver, gold, and tungsten deposits. Its flagship project is the Mallee Bull copper project comprising an area of 85 square kilometers located in the central New South Wales. The company was incorporated in 2006 and is headquartered in West Perth, Australia.
How the Company Makes MoneyPeel Mining primarily aims to generate value (and ultimately cashflows) by advancing exploration and development-stage mineral projects toward mining, sale, or partnership outcomes. Its potential sources of revenue are: (1) Production and sale of minerals (if/when a project is developed into an operating mine): revenue would be generated from selling produced concentrates or refined metals (e.g., zinc-lead-silver or copper-gold products) under offtake or sales agreements, with earnings driven by production volumes, commodity prices, metallurgical recoveries, and operating costs. (2) Asset monetisation transactions: the company may realise income or gains by selling project interests, tenements, or subsidiaries, or by farming out/earning arrangements where a partner funds exploration/development in exchange for an interest; these deals can include cash payments, milestone/option payments, reimbursements of expenditure, and/or future royalties. (3) Joint ventures/partnership funding: where projects are advanced with a partner, Peel may benefit via retained project interests, management fees (if applicable), or reduced funding requirements while maintaining exposure to upside; specific partnership terms and whether any fees apply are not available here (null). As an exploration and development company, it may also rely on equity raisings to fund operations; equity proceeds are financing rather than operating revenue. Specific current revenue figures, offtake contracts, producing-mine cashflows, and material partnership payment details are not available in this response (null).

Peel Mining Limited Financial Statement Overview

Summary
Balance sheet strength (zero debt and substantial equity) is a major positive, but it is outweighed by weak operating performance: the company remains loss-making with negative EBIT and persistent negative operating/free cash flow, indicating continued reliance on external funding despite a sharp revenue rebound off a low base.
Income Statement
28
Negative
Revenue rebounded sharply in 2025 (annual revenue up ~199% to ~0.67M), but profitability remains weak with negative EBIT and a net loss (~-2.10M). Margins are heavily negative in recent years, showing the company is still in an investment/early-stage phase rather than generating sustainable earnings. A prior profit year (2021) appears non-recurring given the return to losses since then.
Balance Sheet
74
Positive
The balance sheet is a clear strength: the company reports zero debt across all periods provided, with substantial equity (~107M in 2025) supporting the asset base (~109M). Returns on equity are negative in recent years due to losses, and equity has drifted modestly lower versus 2022–2023 levels—suggesting ongoing cash burn/valuation impacts—but low leverage meaningfully reduces financial risk.
Cash Flow
22
Negative
Cash generation is the key weakness: operating cash flow is consistently negative (about -1.9M in 2025), and free cash flow is deeply negative (about -5.0M in 2025). Free cash flow improved versus 2024, but the business still relies on external funding to sustain operations, and cash outflows have been persistent over multiple years.
BreakdownTTMJun 2025Jun 2024Jun 2023Jun 2022Jun 2021
Income Statement
Total Revenue280.37K673.33K416.0013.46K42.007.44M
Gross Profit226.76K673.33K416.00-150.15K-146.00K7.32M
EBITDA-6.50M-2.21M-4.34M-1.27M-3.83M6.50M
Net Income-6.03M-2.10M-2.70M-1.48M-3.42M3.69M
Balance Sheet
Total Assets126.93M109.18M110.78M113.92M117.28M91.28M
Cash, Cash Equivalents and Short-Term Investments17.64M1.40M6.27M12.06M22.56M16.80M
Total Debt87.74K0.000.000.000.000.00
Total Liabilities1.91M1.76M1.62M2.44M4.31M4.29M
Stockholders Equity125.02M107.42M109.16M111.48M112.98M86.99M
Cash Flow
Free Cash Flow-4.69M-4.97M-6.04M-11.69M-22.78M-11.50M
Operating Cash Flow-2.95M-1.91M-1.56M-1.44M-2.09M-1.42M
Investing Cash Flow-11.34M-2.97M-4.23M-9.06M-20.70M-25.44M
Financing Cash Flow20.27M0.000.000.0028.55M35.45M

Peel Mining Limited Technical Analysis

Technical Analysis Sentiment
Neutral
Last Price0.14
Price Trends
50DMA
0.16
Negative
100DMA
0.14
Positive
200DMA
0.11
Positive
Market Momentum
MACD
>-0.01
Positive
RSI
43.08
Neutral
STOCH
32.29
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For AU:PEX, the sentiment is Neutral. The current price of 0.14 is below the 20-day moving average (MA) of 0.16, below the 50-day MA of 0.16, and above the 200-day MA of 0.11, indicating a neutral trend. The MACD of >-0.01 indicates Positive momentum. The RSI at 43.08 is Neutral, neither overbought nor oversold. The STOCH value of 32.29 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Neutral sentiment for AU:PEX.

Peel Mining Limited Peers Comparison

Overall Rating
UnderperformOutperform
Sector (61)
Financial Indicators
Name
Overall Rating
Market Cap
P/E Ratio
ROE
Dividend Yield
Revenue Growth
EPS Growth
61
Neutral
$10.43B7.12-0.05%2.87%2.86%-36.73%
54
Neutral
AU$84.78M2.160.85%-16.97%-94.15%
47
Neutral
AU$81.06M-11.27-10.46%-85.84%73.66%
46
Neutral
AU$129.14M-160.11-7.69%-275.00%
45
Neutral
AU$55.46M-0.14-92.53%21.74%
45
Neutral
AU$125.15M-5.36-5.19%21.74%
45
Neutral
AU$98.74M-12.92-67.75%-414.88%
* Basic Materials Sector Average
Performance Comparison
Ticker
Company Name
Price
Change
% Change
AU:PEX
Peel Mining Limited
0.15
0.06
72.62%
AU:MEU
Marmota Limited
0.10
0.06
122.22%
AU:MSV
Mitchell Services Limited
0.40
0.15
57.48%
AU:ADN
Andromeda Metals Limited
0.01
<0.01
20.00%
AU:E25
Element 25 Limited
0.31
0.05
22.00%
AU:HAS
Hastings Technology Metals Limited
0.45
0.11
32.05%

Peel Mining Limited Corporate Events

Peel Mining Updates Registered Office Address in Subiaco
Feb 10, 2026

Peel Mining Limited has announced a change to its registered office and principal place of business, relocating to Suite 1B, 6 Centro Avenue in Subiaco, Western Australia. The company confirmed that all other contact details, including telephone numbers and postal addresses, remain unchanged, indicating the move is an administrative adjustment with minimal operational impact for stakeholders.

The relocation reflects a straightforward corporate update rather than a shift in strategy or project portfolio for the ASX-listed miner. Investors, partners, and other stakeholders can continue to engage with Peel Mining through existing communication channels, with only the physical office address requiring amendment in records and correspondence.

The most recent analyst rating on (AU:PEX) stock is a Hold with a A$0.17 price target. To see the full list of analyst forecasts on Peel Mining Limited stock, see the AU:PEX Stock Forecast page.

Peel Mining Director Increases Indirect Shareholding via Performance Rights Exercise
Jan 29, 2026

Peel Mining Limited has disclosed a change in the indirect equity holdings of director Nicholas Woolrych, reflecting the exercise of previously issued performance rights. Woolrych has converted 13 million Class A and Class B performance rights, granted in September 2025 after vesting conditions were met, into fully paid ordinary shares at no cash consideration, lifting his indirect shareholding to 15,352,942 shares while his option holdings remain unchanged; the transaction was not conducted during a closed trading period, signalling increased director alignment with shareholder interests without impacting the company’s cash position.

The most recent analyst rating on (AU:PEX) stock is a Hold with a A$0.17 price target. To see the full list of analyst forecasts on Peel Mining Limited stock, see the AU:PEX Stock Forecast page.

Peel Mining Raises $21.25m to Accelerate Exploration at Nombinnie and Southern Nights
Jan 27, 2026

Peel Mining has strengthened its balance sheet with a highly successful $21.25 million capital raising, comprising a two-tranche institutional placement and an oversubscribed share purchase plan priced at $0.085 per share, attracting strong backing from both new and existing natural resources investors. The fresh funding is supporting an accelerated exploration program, including a completed 2,706m initial drilling campaign at the Nombinnie Prospect that returned multiple significant near-surface gold intercepts, and the commencement of a 9-hole, 4,625m drill program at the Southern Nights Complex, while a broader technical and corporate review evaluates regional processing and potential M&A to advance the company’s Cobar Basin assets and sharpen its strategic positioning.

The most recent analyst rating on (AU:PEX) stock is a Hold with a A$0.17 price target. To see the full list of analyst forecasts on Peel Mining Limited stock, see the AU:PEX Stock Forecast page.

Red Hill Confirms Deeper Copper-Gold Mineralisation at Anabama in Maiden Drill Program
Jan 26, 2026

Red Hill Minerals has reported initial results from its maiden diamond drilling program at the Anabama Copper-Gold Project in South Australia, part of its Curnamona Earn-In Joint Venture with Peel Mining. Assays from the first hole, 25ANDD001, confirm copper-gold-silver mineralisation in fresh bedrock and extend known mineralisation 130 metres below historic drilling, including a 20-metre intersection grading 0.6% copper, 0.2 g/t gold and 3.0 g/t silver from 313.1 metres, with higher-grade intervals over several metres. Results from a second hole are pending, and downhole electromagnetic surveys planned for late January are expected to refine the understanding of the mineralised system, potentially enhancing the project’s exploration upside and strategic importance within Red Hill’s copper-gold portfolio.

The most recent analyst rating on (AU:PEX) stock is a Hold with a A$0.17 price target. To see the full list of analyst forecasts on Peel Mining Limited stock, see the AU:PEX Stock Forecast page.

Red Hill Uncovers Broad Broken Hill-Type Mineralisation in Maiden Drilling at Broken Hill Project
Jan 22, 2026

Red Hill Minerals has completed a maiden five-hole, 3,734-metre diamond drilling program at its Broken Hill Project in New South Wales, returning broad intervals of Broken Hill Type lead-zinc-silver mineralisation and confirming the exploration potential of several targets. The standout results came from the Dementus target, where drillhole 25DMDD001 intersected a 91.1-metre interval grading 0.1% lead and 0.3 g/t silver within a more than 250-metre BHT lode package from 263 metres depth, along with a deeper 152.6-metre zone of zinc alteration grading 0.2% zinc and 1.3 g/t silver from 658 metres. Additional drilling at the Woolly, Immortan and K1 targets returned lower-grade but supportive mineralised intervals, including broad zinc and narrower copper-gold intersections, underscoring a large mineralised system. On the back of these results, Red Hill will prioritise the Dementus target, with high-resolution gravity and audio-magnetotelluric surveys scheduled to begin in February, marking a shift into more focused follow-up work that could refine drill targets and enhance the project’s potential significance within the Curnamona Province.

The most recent analyst rating on (AU:PEX) stock is a Hold with a A$0.17 price target. To see the full list of analyst forecasts on Peel Mining Limited stock, see the AU:PEX Stock Forecast page.

Peel Mining Strengthens Nombinnie Gold Potential with Further Strong Drill Results
Jan 12, 2026

Peel Mining has reported further significant gold intercepts from its recent 20-hole reverse circulation drilling program at the Nombinnie prospect in New South Wales, with results such as 15 metres at 2.52 grams per tonne gold from 15 metres and 13 metres at 1.33 grams per tonne gold from 147 metres, reinforcing Nombinnie as a highly promising and emerging gold target within its Cobar Basin portfolio. The mineralisation, interpreted as structurally controlled and open along strike and at depth, includes both shallow oxide and deeper primary zones, prompting plans for further geophysics and follow-up drilling, while work at the nearby Chuchi prospect returned only anomalous base metal geochemistry and assays from a down-dip test at May Day are still pending, shaping Peel’s broader exploration and growth strategy in the region.

The most recent analyst rating on (AU:PEX) stock is a Hold with a A$0.16 price target. To see the full list of analyst forecasts on Peel Mining Limited stock, see the AU:PEX Stock Forecast page.

Peel Mining Seeks ASX Quotation for 476,666 New Ordinary Shares
Dec 29, 2025

Peel Mining Limited, listed on the ASX under the code PEX, has applied for quotation of an additional 476,666 fully paid ordinary shares. The new securities, issued on 29 December 2025 following the exercise or conversion of existing options or other convertible securities, will modestly increase the company’s share capital and free float once admitted to quotation, potentially improving liquidity for investors without materially altering its capital structure.

The most recent analyst rating on (AU:PEX) stock is a Buy with a A$0.20 price target. To see the full list of analyst forecasts on Peel Mining Limited stock, see the AU:PEX Stock Forecast page.

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.Date of analysis: Mar 17, 2026