Southern Palladium Ltd. (AU:SPD)
ASX:SPD
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Southern Palladium Ltd.
(Sydney:SPD)
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Rating:43Neutral
Price Target:
AU$1.50
▼(-42.31% Downside)
Action:ReiteratedDate:03/17/26
The score is driven down primarily by weak financial performance (no revenue, recurring losses, and cash burn), reinforced by bearish technical indicators (price below key moving averages and negative MACD). A debt-free balance sheet provides some support, but valuation signals are limited due to negative earnings and no dividend yield data.
Positive Factors
Conservatively financed balance sheet
Zero reported debt reduces refinancing and interest-rate exposure and gives the company financial flexibility to pursue exploration and technical studies. With equity ~29.0M and assets ~29.7M (2025), the low leverage profile supports durable optionality for project advancement, subject to funding.
Negative Factors
No revenue / pre-production profile
The company reports zero operating revenue across multiple years, reflecting a pure exploration/pre-production profile. Without a revenue base, value creation depends entirely on successful resource definition and development, extending timing risk and making long-term sustainability contingent on future project commercialization.
Read all positive and negative factors
Positive Factors
Negative Factors
Conservatively financed balance sheet
Zero reported debt reduces refinancing and interest-rate exposure and gives the company financial flexibility to pursue exploration and technical studies. With equity ~29.0M and assets ~29.7M (2025), the low leverage profile supports durable optionality for project advancement, subject to funding.
Read all positive factors
Southern Palladium Ltd. (SPD) vs. iShares MSCI Australia ETF (EWA)
Market Cap
AU$183.92M
Dividend YieldN/A
Average Volume (3M)184.96K
Price to Earnings (P/E)―
Beta (1Y)1.14
Revenue GrowthN/A
EPS Growth29.91%
CountryAU
EmployeesN/A
SectorBasic Materials
Sector Strength58
IndustryOther Precious Metals
Share Statistics
EPS (TTM)-0.04
Shares Outstanding125,540,910
10 Day Avg. Volume120,355
30 Day Avg. Volume184,959
Financial Highlights & Ratios
PEG Ratio0.43
Price to Book (P/B)2.10
Price to Sales (P/S)0.00
P/FCF Ratio-52.60
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price TargetN/A
Price Target UpsideN/A
Rating ConsensusN/A
Number of Analyst Covering0
EPS Forecast (FY)N/A
Revenue Forecast (FY)N/A
Southern Palladium Ltd. Business Overview & Revenue Model
Company Description
Southern Palladium Limited engages in the exploration and development of platinum group metals. It holds a 100% interest in the Bengwenyama Palladium/rhodium project located on the Eastern Limb of the Bushveld, South Africa. The company was incorp...
How the Company Makes Money
As an exploration-stage company, SPD’s ability to generate recurring operating revenue from product sales is null. Its primary source of funding is capital raising (e.g., equity issuances to investors) to finance exploration, resource definition, ...
Southern Palladium Ltd. Financial Statement Overview
Summary
Income Statement
8
Very Negative
Balance Sheet
55
Neutral
Cash Flow
18
Very Negative
| 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
Neutral
2.60
Price Trends
1.90
Negative
1.78
Negative
1.28
Positive
Market Momentum
-0.14
Negative
42.65
Neutral
63.94
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For AU:SPD, the sentiment is Neutral. The current price of 2.6 is above the 20-day moving average (MA) of 1.51, above the 50-day MA of 1.90, and above the 200-day MA of 1.28, indicating a neutral trend. The MACD of -0.14 indicates Negative momentum. The RSI at 42.65 is Neutral, neither overbought nor oversold. The STOCH value of 63.94 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Neutral sentiment for AU:SPD.
Southern Palladium Ltd. Peers Comparison
UnderperformOutperform
Sector (61)
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$19.97M | -4.18 | 81.27% | 270.27% | ― | ― | |
49 Neutral | AU$163.85M | -33.50 | -18.89% | ― | ― | ― | |
45 Neutral | AU$49.55M | -3.34 | -17.12% | ― | ― | -213.85% | |
44 Neutral | AU$132.62M | -1.98 | -169.12% | ― | -100.00% | 24.82% | |
43 Neutral | AU$183.92M | -12.77 | -27.06% | ― | ― | 29.91% | |
41 Neutral | AU$38.83M | -7.41 | -26.87% | ― | ― | -214.29% |
* Basic Materials Sector Average
AU:SPD
Southern Palladium Ltd.
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Southern Palladium Ltd. Corporate Events
Southern Palladium Joins All Ordinaries in S&P Dow Jones March Rebalance
Mar 10, 2026
SP 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 tec...
S&P Dow Jones Indices Tilts S&P/ASX Benchmarks Toward Resources in March 2026 Rebalance
Mar 6, 2026
SP Dow Jones Indices has announced its March 2026 quarterly rebalance for the SP/ASX equity indices, reshuffling constituents across the SP/ASX 20, 50, 100, 200 and 300, effective before trading on 23 March. The changes see Northern Star Resources...
Southern Palladium Issues New Shares on Option Exercise, Affirms Compliance
Feb 26, 2026
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 ...
Southern Palladium seeks ASX quotation for 50,000 new shares
Feb 25, 2026
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 inst...
Southern Palladium to Showcase Bengwenyama PGM Project at Cape Town Investor Conference
Feb 9, 2026
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...
Southern Palladium Advances Bengwenyama DFS with Drilling, Design and Metallurgy Milestones
Feb 4, 2026
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, inclu...
Southern Palladium Advances Bengwenyama PGM Project and Secures A$20m Funding Boost
Jan 30, 2026
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...
Southern Palladium Retracts Updated Bengwenyama Financial Forecasts After ASX Query
Jan 22, 2026
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 tho...
Southern Palladium Showcases Bengwenyama Project at Future Minerals Forum
Jan 15, 2026
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 ...
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.