Peregrine Gold Ltd. (PGD) AI Stock Analysis

• Market Cap: AU$15.81M
• Dividend Yield: N/A
• Average Volume (3M): 281.57K
• Price to Earnings (P/E): ―
• Beta (1Y): 0.84
• Revenue Growth: N/A
• EPS Growth: 48.22%
• Country: AU
• Employees: N/A
• Sector: Basic Materials
• Sector Strength: 58
• Industry: Gold
• EPS (TTM): -0.02
• Shares Outstanding: 98,808,620
• 10 Day Avg. Volume: 183,519
• 30 Day Avg. Volume: 281,572
• PEG Ratio: 0.10
• Price to Book (P/B): 2.01
• Price to Sales (P/S): 9.65
• P/FCF Ratio: -3.67
• 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): N/A
• Revenue Forecast (FY): N/A

• Rating: 43 Neutral
• Price Target: AU$0.15 ▼(-40.77% Downside)
• Action: Reiterated Date: 03/05/26
• Date: Action: Reiterated 03/05/26

The score is held down primarily by persistent losses and ongoing cash burn (negative operating and free cash flow across all years), which increases execution and funding risk. Technicals also remain weak with the price below key moving averages and a negative MACD. A low-debt balance sheet and renewed 2025 revenue provide some support but are not yet enough to offset the broader financial weakness.

Positive Factors

Low Leverage

A very low debt-to-equity ratio (~0.06 in 2025) means the company carries limited financial leverage, lowering default risk and preserving flexibility. Over months this improves ability to finance exploration or operations without heavy interest burdens, supporting strategic optionality.

Return to Revenue

The resumption of revenue in 2025 after several years of none demonstrates a structural shift from pure development to commercial receipts. Sustained revenue provides a base to scale operations, validates aspects of the business model and is a prerequisite for eventual margin recovery.

Improving Cash Flow Trend

Free cash flow was still negative but meaningfully improved in 2025 versus 2024, indicating progress in narrowing cash burn. A sustained improvement trend over months reduces reliance on external funding and gives management runway to pursue profitability or further revenue expansion.

Negative Factors

Persistent Losses

The company has reported net losses every year from 2021 through 2025, showing structural unprofitability. Over a multi-month horizon, persistent losses erode capital, limit reinvestment ability, and mean profitability depends on sustained revenue growth or significant cost reductions.

Chronic Cash Burn

Negative operating and free cash flow across all years indicates the core business consumes cash rather than generates it. This creates ongoing funding needs, raising execution and dilution risk over time unless cash generation reverses, pressuring strategic continuity and growth plans.

Equity Erosion

Declining equity and persistently negative returns on equity signal capital erosion from recurring losses. Over months this reduces balance sheet resilience, increases vulnerability to shocks, and heightens the likelihood that management will need dilutive capital raises or restructure operations.

Peregrine Gold Ltd. Business Overview & Revenue Model

Company Description

Peregrine 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 Money

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Peregrine Gold Ltd. Financial Statement Overview

Summary

Overall fundamentals are weak: the company is unprofitable with net losses across 2021–2025 and consistently negative operating and free cash flow, implying ongoing funding needs. The main offset is a low-leverage balance sheet (2025 debt-to-equity ~0.06) and the return to revenue in 2025, but losses continue to erode equity over time.

Income Statement

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

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

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.

Breakdown	TTM	Jun 2025	Jun 2024	Jun 2023	Jun 2022	Jun 2021
Income Statement
Total Revenue	919.33K	1.25M	0.00	0.00	0.00	0.00
Gross Profit	787.17K	1.25M	-10.26K	-29.53K	-1.09K	0.00
EBITDA	-2.37M	-2.22M	-3.79M	-4.15M	-3.16M	415.52K
Net Income	-2.60M	-2.41M	-3.92M	-4.15M	-3.15M	-1.22M
Balance Sheet
Total Assets	7.54M	7.09M	6.59M	7.91M	8.41M	6.84M
Cash, Cash Equivalents and Short-Term Investments	3.19M	2.79M	1.91M	3.49M	4.33M	4.83M
Total Debt	278.53K	337.26K	153.00K	254.82K	0.00	0.00
Total Liabilities	539.02K	1.08M	597.89K	604.96K	228.64K	371.84K
Stockholders Equity	7.00M	6.01M	5.99M	7.30M	8.18M	6.47M
Cash Flow
Free Cash Flow	-4.16M	-3.28M	-3.73M	-3.75M	-2.84M	-804.68K
Operating Cash Flow	-4.09M	-3.15M	-3.63M	-3.74M	-2.80M	-746.97K
Investing Cash Flow	1.79M	-130.48K	-147.77K	-10.88K	-10.17K	-57.71K
Financing Cash Flow	5.10M	2.31M	2.20M	2.91M	2.31M	5.63M

Peregrine Gold Ltd. Technical Analysis

• Technical Analysis Sentiment: Negative
• Last Price: 0.26
• 50DMA: Negative
• 100DMA: Negative
• 200DMA: Negative
• MACD: Positive
• RSI: Neutral
• STOCH: Positive

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 above the 20-day moving average (MA) of 0.20, above the 50-day MA of 0.23, and above the 200-day MA of 0.25, indicating a bearish trend. The MACD of -0.02 indicates Positive momentum. The RSI at 32.61 is Neutral, neither overbought nor oversold. The STOCH value of 12.54 is Positive, 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

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%
RAS	48 Neutral	AU$6.14M	-2.11	-139.36%	―	168.85%	13.51%
PVW	44 Neutral	AU$10.27M	-0.89	-5491.93%	―	―	-34.64%
PGD	43 Neutral	AU$15.81M	-3.16	-40.02%	―	―	48.22%
TYX	43 Neutral	AU$10.10M	-2.50	79.19%	―	―	90.70%
WSR	43 Neutral	AU$3.49M	-0.22	-164.84%	―	―	76.76%
GSM	40 Underperform	AU$6.75M	-4.04	-120.71%	―	―	65.32%

Peregrine Gold Ltd. Corporate Events

Peregrine Gold Details Corporate Structure in Interim Report

Peregrine Gold Limited has released its interim report for the period ended 31 December 2025, outlining its current corporate structure and key governance roles. The company detailed changes in its company secretary position, confirmed its Perth head office, and listed its core external advisers, share registry arrangements and ASX securities, underscoring the operational and compliance framework supporting its listed status.

These disclosures highlight continuity in the board with a non-executive chairman, technical director and non-executive director, while signalling administrative transition in corporate secretarial responsibilities. For stakeholders, the report reinforces the company’s adherence to statutory reporting and corporate governance standards expected of an ASX-listed entity, providing clarity on where and how its securities and corporate records are administered.

The most recent analyst rating on (AU:PGD) stock is a Hold with a A$0.19 price target. To see the full list of analyst forecasts on Peregrine Gold Ltd. stock, see the AU:PGD Stock Forecast page.

Peregrine Gold Sets March 2026 Expiry for Out-of-the-Money Listed Options

Peregrine Gold has announced that 4,997,212 listed options, exercisable at $0.55 under code PGDOA, will expire at 5:00 p.m. AEDT on 31 March 2026, with ASX quotation of the options to cease on 25 March 2026. With the company’s shares last trading at $0.20 and having traded between $0.175 and $0.31 over the past three months, the options are currently substantially out of the money, and holders who do not exercise by the deadline will see their options lapse.

The company will not send personalised expiry notices because the options are out of the money, though it will issue an expiry notice if the share price exceeds $0.275 before the deadline. This development clarifies the near-term capital structure and potential dilution for shareholders, as any unexercised options will simply expire, and there are no underwriting agreements in place related to these securities.

The most recent analyst rating on (AU:PGD) stock is a Hold with a A$0.23 price target. To see the full list of analyst forecasts on Peregrine Gold Ltd. stock, see the AU:PGD Stock Forecast page.

Peregrine Gold Advances Pilbara Exploration With Approvals and New Sampling Programs

Peregrine Gold has outlined an active exploration program across its Pilbara projects, with mapping and sampling set to begin at the Pilgangoora North Project to follow up anomalous gold in stream sediment samples. The company is also nearing execution of heritage agreements at the Peninsula Prospect as Special Prospecting Licenses progress toward grant, underpinning future on-ground work.

Regulatory approvals have been secured for reverse circulation drilling at the Carney’s CID Prospect, pending completion of a heritage survey, while approval for drilling at Coopers CID is advancing. Orientation stream sediment sampling will commence at the Rocklea Gold Project following strategic tenement acquisitions, and final aircore drilling results from Tin Can and Epithermal prospects have been received, with follow-up drilling planned to advance these targets.

The most recent analyst rating on (AU:PGD) stock is a Hold with a A$0.23 price target. To see the full list of analyst forecasts on Peregrine Gold Ltd. stock, see the AU:PGD Stock Forecast page.

Peregrine Gold Secures Major Land Expansion at Rocklea Project

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

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

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

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.