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Southern Palladium Ltd.
(Sydney:SPD)
Southern Palladium Ltd. (SPD) vs. iShares MSCI Australia ETF (EWA)
Southern Palladium Ltd. Business Overview & Revenue Model
Southern Palladium Ltd. Financial Statement Overview
| Breakdown | TTM | Jun 2025 | Jun 2024 | Jun 2023 | Jun 2022 | Jun 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Gross Profit | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| EBITDA | -10.03M | -4.05M | 0.00 | -6.45M | 0.00 | -258.34K |
| Net Income | -9.81M | -4.78M | -6.73M | -7.18M | -2.50M | -258.34K |
Balance Sheet | ||||||
| Total Assets | 43.72M | 29.73M | 25.11M | 31.29M | 40.69M | 1.39M |
| Cash, Cash Equivalents and Short-Term Investments | 22.58M | 9.92M | 5.43M | 11.55M | 17.87M | 1.36M |
| Total Debt | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Total Liabilities | 283.29K | 698.75K | 137.81K | 99.29K | 410.33K | 87.24K |
| Stockholders Equity | 43.44M | 29.04M | 24.97M | 31.19M | 40.28M | 1.30M |
Cash Flow | ||||||
| Free Cash Flow | -2.27M | -1.16M | -894.00 | -1.06K | -1.36K | -343.00 |
| Operating Cash Flow | -2.27M | -1.16M | -894.00 | -1.06K | -1.36K | -343.00 |
| Investing Cash Flow | -6.81M | -2.35M | -5.22M | -5.26M | -889.00 | 0.00 |
| Financing Cash Flow | 26.22M | 8.00M | 0.00 | 0.00 | 17.86M | 1.56M |
Southern Palladium Ltd. Technical Analysis
Southern Palladium Ltd. Peers Comparison
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
61 Neutral | $10.43B | 7.12 | -0.05% | 2.87% | 2.86% | -36.73% | |
54 Neutral | AU$21.26M | -4.18 | 81.27% | 270.27% | ― | ― | |
46 Neutral | AU$140.45M | -8.05 | -30.82% | ― | ― | ― | |
45 Neutral | AU$42.21M | -3.34 | -15.12% | ― | ― | -213.85% | |
44 Neutral | AU$130.14M | -1.98 | -169.12% | ― | -100.00% | 24.82% | |
43 Neutral | AU$163.83M | -12.77 | -27.06% | ― | ― | 29.91% | |
41 Neutral | AU$27.73M | -7.41 | -26.87% | ― | ― | -214.29% |
Southern Palladium Ltd. Corporate Events
S&P Dow Jones Indices has confirmed that Southern Palladium Limited will be added to the All Ordinaries index from March 23, 2026, as part of its March quarterly rebalance, alongside a wide range of other resource, energy transition, media, and technology stocks. The decision, which also keeps American Rare Earths Limited in the index and reverses the planned inclusion of African Gold Limited, is likely to enhance market exposure, trading liquidity, and institutional interest for Southern Palladium and its fellow new entrants.
This index reshuffle underscores continued investor focus on commodities, critical minerals, and related sectors, reflecting their growing importance in Australia’s equity market. Inclusion in the All Ordinaries often supports greater benchmark participation and may influence capital flows to these companies, with potential implications for valuations and access to funding.
The most recent analyst rating on (AU:SPD) stock is a Hold with a A$1.50 price target. To see the full list of analyst forecasts on Southern Palladium Ltd. stock, see the AU:SPD Stock Forecast page.
S&P Dow Jones Indices has announced its March 2026 quarterly rebalance for the S&P/ASX equity indices, reshuffling constituents across the S&P/ASX 20, 50, 100, 200 and 300, effective before trading on 23 March. The changes see Northern Star Resources enter the top-tier S&P/ASX 20, multiple resource-focused companies promoted across the 50, 100 and 200, and a broad wave of additions to the S&P/ASX 300, moves that are likely to drive index-tracking fund flows and subtly tilt the Australian benchmark landscape further toward mining, energy transition and resources-related exposures.
The S&P/ASX 50 will add Light & Wonder Inc. and PLS Group while removing Seek and Technology One, signalling a shift away from some technology and employment-platform names toward gaming and resources. In the S&P/ASX 100 and 200, gains by gold and energy-transition players such as Greatland Resources, Regis Resources, Westgold Resources, Predictive Discovery and Vulcan Energy come at the expense of groups like Lendlease, Netwealth, Pinnacle Investment Management and EBOS, illustrating how sector performance and market capitalisation trends are reshaping the investable universe for institutional and retail investors who track these indices.
At the broader market level, the S&P/ASX 300 sees an influx of smaller and mid-cap names spanning rare earths, lithium, metals, medical technology and contracting, including Arafura Rare Earths, Elevra Lithium, 4DMedical and Macmahon Holdings. This expansion broadens exposure to emerging themes such as critical minerals and healthcare innovation, offering greater diversification but also potentially increasing volatility for funds benchmarked against the wider Australian equity market.
The most recent analyst rating on (AU:SPD) stock is a Hold with a A$2.00 price target. To see the full list of analyst forecasts on Southern Palladium Ltd. stock, see the AU:SPD Stock Forecast page.
Southern Palladium has issued 50,000 fully paid ordinary shares at $0.875 each following the exercise of options by an existing optionholder, with the new shares ranking pari passu with its existing ordinary shares. The company confirmed that the issuance was conducted without a prospectus under the Corporations Act, that it remains compliant with continuous disclosure and financial reporting obligations, and that there is no undisclosed price-sensitive information, signalling a routine capital structure adjustment with limited immediate impact on existing shareholders.
This small share issue reflects standard option conversion activity rather than a broader capital raising, indicating minimal dilution for current investors and no change to the company’s strategic direction. By explicitly affirming regulatory compliance and the absence of excluded information, Southern Palladium aims to reassure the market about transparency and governance standards around its securities issuance.
The most recent analyst rating on (AU:SPD) stock is a Hold with a A$2.00 price target. To see the full list of analyst forecasts on Southern Palladium Ltd. stock, see the AU:SPD Stock Forecast page.
Southern Palladium Ltd. has applied for quotation on the ASX of 50,000 new ordinary fully paid shares, to be traded under its existing ticker SPD. The new securities, issued on 25 February 2026 following the exercise or conversion of existing instruments, represent a relatively small increase in the company’s quoted capital base and are unlikely to materially alter its overall market positioning or shareholder structure.
The application reflects routine capital management activity as the company continues to facilitate trading liquidity and maintain compliance with ASX listing requirements. While modest in scale, the additional shares formalise the conversion of prior rights into listed equity, incrementally expanding the free float available to investors and marginally adjusting ownership percentages among existing shareholders.
The most recent analyst rating on (AU:SPD) stock is a Hold with a A$2.00 price target. To see the full list of analyst forecasts on Southern Palladium Ltd. stock, see the AU:SPD Stock Forecast page.
Southern Palladium has announced it will present to shareholders and potential investors at the 1-2-1 Mining Investment Conference in Cape Town, South Africa. The company is using the forum to showcase its Bengwenyama platinum group metals project, positioning the asset as a potential next world-class development opportunity within the Bushveld Complex and seeking to deepen engagement with both Australian and South African capital markets.
The conference appearance underscores Southern Palladium’s efforts to raise its profile among global mining investors and to highlight the strategic significance of its Bushveld portfolio. By aligning its investor outreach with a major industry gathering, the company aims to reinforce its growth narrative in the platinum group metals sector and potentially attract additional interest from institutional and retail stakeholders.
The most recent analyst rating on (AU:SPD) stock is a Hold with a A$2.00 price target. To see the full list of analyst forecasts on Southern Palladium Ltd. stock, see the AU:SPD Stock Forecast page.
Southern Palladium reported strong progress on the Definitive Feasibility Study for its Bengwenyama PGM Project, with Phase 2 drilling about halfway complete at 6,651 metres across 52 drillholes and 37 deflections. Key technical workstreams, including metallurgical sampling, surface geotechnical drilling and test pitting, have been completed, while underground geotechnical and resource infill drilling remain on schedule, backed by results that support the geological model and enable shallower, more consistent reef access. The company is also optimising its mine design, increasing the decline gradient to reduce development metres with limited cost impact, advancing metallurgical test work on a conventional MF2 processing circuit aimed at improving chromite recovery, and moving into early development planning with contractor RFQs issued and site mobilisation targeted from mid-2026, keeping DFS completion on track for the end of August 2026 and marking a key de-risking step for the project and its stakeholders.
The most recent analyst rating on (AU:SPD) stock is a Hold with a A$2.00 price target. To see the full list of analyst forecasts on Southern Palladium Ltd. stock, see the AU:SPD Stock Forecast page.
Southern Palladium reported strong progress in the December 2025 quarter on advancing the Bengwenyama PGM project toward development, with key Definitive Feasibility Study activities moving ahead, including completion of drilling for metallurgical assays, ongoing geotechnical drilling in the South block, and surface geotechnical work across planned decline and plant site areas to refine mine design and de-risk Stage 1 development. The company also advanced permitting by lodging all required documentation under South Africa’s mining legislation and submitting its Environmental Guarantee, while a A$20 million capital raising significantly strengthened its balance sheet, fully funding completion of the DFS and early mine development activities and positioning Southern Palladium for a potential Mining Right approval and Final Investment Decision in 2026, reinforcing its standing as a high-quality PGM development play amid supportive market conditions and rising institutional interest.
The most recent analyst rating on (AU:SPD) stock is a Hold with a A$2.50 price target. To see the full list of analyst forecasts on Southern Palladium Ltd. stock, see the AU:SPD Stock Forecast page.
Southern Palladium has retracted updated forecast financial information it presented on 15 January 2026 for the Bengwenyama Project, after the ASX advised that the projections were based on materially different commodity price assumptions than those used in the company’s Optimised Prefeasibility Study and were not supported by an updated pre-feasibility study in line with listing rules. The company has removed several comparative resource and valuation graphs and tables from the investor presentation, confirmed that the Optimised Prefeasibility Study released in July 2025 remains current and unchanged, warned investors not to rely on the withdrawn forecasts, and signalled that it is working towards a Definitive Feasibility Study targeted for release in the third quarter of 2026.
The most recent analyst rating on (AU:SPD) stock is a Hold with a A$2.50 price target. To see the full list of analyst forecasts on Southern Palladium Ltd. stock, see the AU:SPD Stock Forecast page.
Southern Palladium announced that its Executive Chairman, Roger Baxter, is presenting at the “Gateway to Funding” segment of the Future Minerals Forum in Riyadh, a leading global mining investment conference. The appearance provides a platform to highlight progress on the Bengwenyama project to an international investor audience, underscoring the company’s efforts to raise its profile, attract funding, and reinforce its positioning as a significant emerging player in the global PGM sector.
The most recent analyst rating on (AU:SPD) stock is a Hold with a A$2.50 price target. To see the full list of analyst forecasts on Southern Palladium Ltd. stock, see the AU:SPD Stock Forecast page.