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Peregrine Gold Ltd. (AU:PGD)
ASX:PGD
Australian Market

Peregrine Gold Ltd. (PGD) AI Stock Analysis

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AU:PGD

Peregrine Gold Ltd.

(Sydney:PGD)

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Neutral 43 (OpenAI - 5.2)
Rating:43Neutral
Price Target:
AU$0.22
▼(-16.54% Downside)
The score is primarily constrained by weak financial performance—persistent losses and ongoing cash burn—despite low leverage. Technicals also weigh on the score with the price trading below major moving averages, while valuation is limited by a negative P/E and no dividend yield support.
Positive Factors
Low leverage / balance sheet flexibility
A very low debt-to-equity ratio (~0.06 in 2025) materially reduces near-term refinancing and solvency risk. That balance-sheet flexibility gives management time to advance operations or raise capital on less stressed terms, supporting strategic optionality over the next several months.
Return to revenue with strong gross margins
The re-emergence of meaningful revenue in 2025 after years of zero activity signals operational progress toward commercialization. Reported near-total gross profit on that revenue suggests favorable unit economics at current scale, a foundation for durable margin improvement if fixed costs are controlled.
Improving free cash flow trend
Free cash flow becoming less negative in 2025 indicates initial traction on cash conversion or cost control. If this trend continues, it can reduce external funding needs, lower dilution risk, and enable reinvestment into production or exploration over the coming 2–6 months.
Negative Factors
Structural unprofitability
Consistent net losses across 2021–2025 show the company cannot cover its operating base at current scale. Persistent unprofitability erodes retained earnings, limits reinvestment capacity, and increases reliance on external capital, undermining long-term value creation prospects.
Persistent cash burn
Negative operating and free cash flow every year indicates ongoing cash consumption rather than generation. This structural cash burn forces continuous external financing, raising dilution and execution risk while diverting management attention toward funding instead of operations.
Eroding equity and negative ROE
Declining equity since 2022 and persistently negative ROE signal shareholder value erosion and a weakening capital base. Continued losses shrink financial buffers, reducing the company's ability to absorb shocks and limiting strategic options without dilutive capital raises.

Peregrine Gold Ltd. (PGD) vs. iShares MSCI Australia ETF (EWA)

Peregrine Gold Ltd. Business Overview & Revenue Model

Company DescriptionPeregrine Gold Limited engages in the exploration of gold projects in Australia. It holds a 100% interest in the Pilbara Gold project, which comprises eight granted exploration licenses covering an area of approximately 1,547 square kilometers located on the Sylvania Inlier in the south west of the prolific Pilbara region, Western Australia. The company was incorporated in 2020 and is headquartered in Perth, Australia.
How the Company Makes MoneyPeregrine Gold Ltd. generates revenue primarily through the exploration and potential development of gold mining projects. The company focuses on identifying high-potential gold deposits, which can be further developed or sold to larger mining companies. Revenue can also be generated through joint ventures or partnerships with other mining companies that have the resources and expertise to fully exploit the discovered deposits. Additionally, Peregrine Gold may earn income from the sale of exploration rights or licenses to other interested parties. Key factors contributing to its earnings include the success of its exploration activities, the price of gold on the global market, and the ability to secure strategic partnerships that can help advance their projects to the production stage.

Peregrine Gold Ltd. Financial Statement Overview

Summary
Overall fundamentals are weak: the company is still structurally unprofitable with negative net income across 2021–2025 and consistently negative operating/free cash flow, implying ongoing funding needs. Offsetting this, leverage is low (2025 debt-to-equity ~0.06) and revenue reappeared in 2025, but losses and cash burn remain the dominant factor.
Income Statement
18
Very Negative
The company remains structurally unprofitable: net income is negative across the full period (2021–2025), with 2025 still showing a sizable loss. While 2025 introduces meaningful revenue (after multiple years of zero revenue) and a near-total gross profit on that revenue, operating results remain deeply negative, indicating the cost base is far above the current revenue run-rate. Overall, profitability and earnings stability are weak, though the return to revenue is a modest positive signal.
Balance Sheet
62
Positive
Leverage is low, with a modest debt-to-equity ratio in recent years (2025 debt-to-equity ~0.06; historically near zero to low), which reduces financial risk. However, shareholder returns are consistently negative (return on equity is meaningfully below zero each year), and equity has trended down from 2022 levels, reflecting ongoing losses. Overall balance sheet risk looks manageable, but continued losses can erode the equity base over time.
Cash Flow
24
Negative
Cash generation is weak: operating cash flow and free cash flow are negative every year shown, indicating the business is consuming cash rather than producing it. 2025 free cash flow improved versus 2024 (less negative), but it remains meaningfully negative, so the company likely depends on external funding to sustain operations. Cash flow quality is not the issue—losses generally translate into cash burn—rather, the core challenge is persistent cash outflows.
BreakdownTTMDec 2025Dec 2024Dec 2023Dec 2022Dec 2021
Income Statement
Total Revenue0.001.25M0.000.000.000.00
Gross Profit-59.64K1.25M-10.26K-29.53K-1.09K0.00
EBITDA-3.09M-2.22M-3.79M-4.15M-3.16M415.52K
Net Income-3.92M-2.41M-3.92M-4.15M-3.15M-1.22M
Balance Sheet
Total Assets4.91M7.09M6.59M7.91M8.41M6.84M
Cash, Cash Equivalents and Short-Term Investments390.71K2.79M1.91M3.49M4.33M4.83M
Total Debt82.71K337.26K153.00K254.82K0.000.00
Total Liabilities651.63K1.08M597.89K604.96K228.64K371.84K
Stockholders Equity4.26M6.01M5.99M7.30M8.18M6.47M
Cash Flow
Free Cash Flow-1.43M-3.28M-3.73M-3.75M-2.84M-804.68K
Operating Cash Flow-1.43M-3.15M-3.63M-3.74M-2.80M-746.97K
Investing Cash Flow-47.83K-130.48K-147.77K-10.88K-10.17K-57.71K
Financing Cash Flow850.77K2.31M2.20M2.91M2.31M5.63M

Peregrine Gold Ltd. Technical Analysis

Technical Analysis Sentiment
Negative
Last Price0.26
Price Trends
50DMA
0.26
Negative
100DMA
0.27
Negative
200DMA
0.24
Negative
Market Momentum
MACD
<0.01
Positive
RSI
37.86
Neutral
STOCH
36.67
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For AU:PGD, the sentiment is Negative. The current price of 0.26 is below the 20-day moving average (MA) of 0.26, below the 50-day MA of 0.26, and above the 200-day MA of 0.24, indicating a bearish trend. The MACD of <0.01 indicates Positive momentum. The RSI at 37.86 is Neutral, neither overbought nor oversold. The STOCH value of 36.67 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for AU:PGD.

Peregrine Gold Ltd. 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%
51
Neutral
AU$7.53M-2.89-127.51%168.85%13.51%
45
Neutral
AU$9.90M-4.88-131.62%65.32%
44
Neutral
AU$9.11M-1.08-898.12%-34.64%
43
Neutral
AU$25.20M-6.72-40.21%48.22%
43
Neutral
AU$13.46M90.70%
43
Neutral
AU$3.97M-1.18-37.62%76.76%
* Basic Materials Sector Average
Performance Comparison
Ticker
Company Name
Price
Change
% Change
AU:PGD
Peregrine Gold Ltd.
0.23
0.08
60.71%
AU:GSM
Golden State Mining Ltd.
0.02
0.01
110.00%
AU:PVW
PVW Resources Limited
0.03
0.01
100.00%
AU:RAS
Ragusa Minerals Ltd
0.04
0.02
184.62%
AU:TYX
Tyranna Resources Limited
AU:WSR
Westar Resources Ltd.
0.01
0.00
0.00%

Peregrine Gold Ltd. Corporate Events

Peregrine Gold Secures Major Land Expansion at Rocklea Project
Feb 2, 2026

Peregrine Gold has expanded its Rocklea Gold Project in Western Australia through the acquisition of four additional exploration licences, including an application recently purchased from Nearology Pty Ltd, increasing the project’s footprint to six licences covering about 1,250 square kilometres. The enlarged tenement package is transected by the significant Karra Well Fault and displays geological characteristics analogous to the nearby high-grade Paulsens Gold Mine, notably the presence of gabbroic sills, metasedimentary units and WNW–NW fault structures, positioning Peregrine to explore for similar structurally controlled gold mineralisation and potentially enhance its resource base and regional significance.

The most recent analyst rating on (AU:PGD) stock is a Hold with a A$0.25 price target. To see the full list of analyst forecasts on Peregrine Gold Ltd. stock, see the AU:PGD Stock Forecast page.

Peregrine Gold Uncovers Second High-Grade Channel Iron Target Near BHP’s Newman Operations
Jan 30, 2026

Peregrine Gold has identified a second high-grade, large-scale Channel Iron Deposit target, named the Carneys CID Prospect, at its Newman Project in Western Australia, located about 3km from BHP’s Western Ridge iron ore project. Sampling across 1.1km of outcropping CID at Carneys returned iron grades averaging 55% Fe and up to 60% Fe, with geological work indicating a system that begins as an eroded mesa-type CID and transitions into a valley-type body inferred to extend a further 4.6km under shallow cover. The company says the Carneys CID material closely resembles its previously announced Coopers CID discovery, and together with a low-cost expansion of its Rocklea Gold Project footprint and a quarter-end cash balance of approximately $3.2m, the results provide financial and operational scope for continued exploration that could enhance Peregrine’s iron ore portfolio and regional positioning.

The most recent analyst rating on (AU:PGD) stock is a Hold with a A$0.32 price target. To see the full list of analyst forecasts on Peregrine Gold Ltd. stock, see the AU:PGD Stock Forecast page.

Peregrine Gold Director’s 600,000 Options Lapse on Expiry
Jan 6, 2026

Peregrine Gold Ltd has reported a change in director Brian Thomas’s indirect interests in the company’s securities, as required under ASX listing rules. The notice confirms that 600,000 unlisted options, previously held indirectly via trustee Ms Sabina Marie Schlink under the Hensman Family account and exercisable at $0.85 by 31 December 2025, have been cancelled upon expiry, leaving Thomas with an indirect holding of 500,000 performance rights expiring in November 2029, and no direct interests. The change involves no consideration and was not related to trading in a closed period, indicating a routine expiry-driven adjustment rather than an active change in the director’s investment position.

The most recent analyst rating on (AU:PGD) stock is a Hold with a A$0.26 price target. To see the full list of analyst forecasts on Peregrine Gold Ltd. stock, see the AU:PGD Stock Forecast page.

Peregrine Gold Options Lapse, Trimming Potential Future Dilution
Jan 6, 2026

Peregrine Gold Ltd has notified the market that a tranche of listed options (ASX code PGDAL), exercisable at $0.85 and expiring on 31 December 2025, has lapsed unexercised, resulting in the cessation of 600,000 options from its issued capital. The expiry of these options without conversion marginally simplifies the company’s capital structure but does not immediately affect its ordinary share count, signalling a slight reduction in potential future dilution for existing shareholders.

The most recent analyst rating on (AU:PGD) stock is a Hold with a A$0.26 price target. To see the full list of analyst forecasts on Peregrine Gold Ltd. stock, see the AU:PGD Stock Forecast page.

Peregrine Gold Ltd. Issues Shares to Secure Tenement Application
Dec 16, 2025

Peregrine Gold Ltd. has issued 274,510 fully paid ordinary shares to secure a tenement application with Nearology Pty Ltd, alongside an additional 50,000 shares to facilitate the transaction. This move allows the shares to be traded immediately under the exemption provided by section 708A(5) of the Corporations Act, potentially enhancing the company’s operational flexibility and market positioning.

Peregrine Gold Ltd. Announces Quotation of New Securities on ASX
Dec 16, 2025

Peregrine Gold Ltd. has announced the quotation of 324,510 fully paid ordinary securities on the Australian Securities Exchange (ASX) as part of a previously announced transaction. This move is expected to enhance the company’s financial flexibility and support its ongoing exploration and development activities, potentially strengthening its position in the gold mining sector.

Peregrine Gold Ltd Announces Proposed Securities Issue
Dec 11, 2025

Peregrine Gold Ltd has announced a proposed issue of 324,510 fully paid ordinary securities, with the issuance date set for December 16, 2025. This move is part of a placement or other type of issue, aimed at enhancing the company’s capital structure and potentially supporting its ongoing exploration and development activities in the gold sector.

Peregrine Gold Expands Rocklea Project with Strategic Acquisition
Dec 11, 2025

Peregrine Gold Limited has expanded its Rocklea Gold Project by acquiring a tenement application over the Fortescue Group, enhancing its presence in a region known for gold mineralization. This strategic acquisition is expected to bolster Peregrine’s operations in the Pilbara Region, with plans to commence fieldwork in 2026, potentially strengthening its industry positioning and offering new opportunities for stakeholders.

Peregrine Gold Director Acquires New Performance Rights
Dec 3, 2025

Peregrine Gold Limited announced a change in the director’s interest, with George Merhi acquiring 1,000,000 performance rights expiring in 2029. This acquisition, valued at approximately $181,000, was approved by shareholders at the 2025 AGM and reflects the company’s ongoing efforts to align management interests with long-term shareholder value.

Peregrine Gold Limited Announces Director’s Interest Change
Dec 3, 2025

Peregrine Gold Limited has announced a change in the director’s interest, specifically regarding Brian Thomas. The company has issued 500,000 performance rights to Ms. Sabina Marie Schlink, acting as a trustee, which were approved by shareholders at the 2025 AGM. This change reflects a strategic decision to align director interests with company performance, potentially impacting future company operations and shareholder value.

Peregrine Gold Ltd Issues 1 Million Unlisted Options
Dec 2, 2025

Peregrine Gold Ltd has announced the issuance of 1,000,000 unlisted options, exercisable at $0.33 and expiring on September 11, 2028. This issuance is part of a previously announced transaction and is not intended to be quoted on the ASX, potentially impacting the company’s financial strategies and stakeholder interests.

Peregrine Gold Ltd Issues 2 Million Performance Rights
Dec 2, 2025

Peregrine Gold Ltd announced the issuance of 2,000,000 unquoted performance rights set to expire on November 28, 2029. This move is part of a previously announced transaction, indicating strategic efforts to incentivize performance and align interests within the company, potentially impacting its operational dynamics and stakeholder engagement.

Peregrine Gold Ltd Announces Cessation of Securities
Dec 1, 2025

Peregrine Gold Ltd announced the cessation of 610,000 options that expired on November 30, 2025, without being exercised or converted. This cessation of securities reflects a routine adjustment in the company’s issued capital, which may impact the company’s financial structuring and stakeholder interests.

Peregrine Gold Unveils Second High-Grade Iron Prospect at Newman
Nov 25, 2025

Peregrine Gold Limited has identified a second high-grade Channel Iron Deposit (CID) named Carneys CID at its Newman Gold and Iron Project. This new prospect, located near the previously discovered Coopers CID, features a significant strike length with high iron grades and low deleterious elements, enhancing the company’s resource potential and strategic positioning in the region.

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: Feb 03, 2026