Saturn Metals Ltd. (STN) AI Stock Analysis

• Market Cap: AU$306.22M
• Dividend Yield: N/A
• Average Volume (3M): 1.88M
• Price to Earnings (P/E): ―
• Beta (1Y): 0.80
• Revenue Growth: N/A
• EPS Growth: -10.71%
• Country: AU
• Employees: N/A
• Sector: Basic Materials
• Sector Strength: 58
• Industry: Gold
• EPS (TTM): >-0.01
• Shares Outstanding: 546,814,200
• 10 Day Avg. Volume: 3,074,152
• 30 Day Avg. Volume: 1,876,920
• PEG Ratio: -1.46
• Price to Book (P/B): 1.10
• Price to Sales (P/S): 0.00
• P/FCF Ratio: -4.25
• 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: AU$1.93
• Price Target Upside: 244.64% Upside
• Rating Consensus: Moderate Buy
• Number of Analyst Covering: 1
• EPS Forecast (FY): N/A
• Revenue Forecast (FY): N/A

• Rating: 50 Neutral
• Price Target: AU$0.50 ▼(-10.71% Downside)

The score is held back primarily by pre-revenue operations with widening losses and sharply higher cash burn (funding/runway risk), partly offset by a strong, low-leverage balance sheet. Technical signals are neutral and do not add strong support, while valuation is constrained by negative earnings and no dividend yield data.

Positive Factors

Extremely low leverage

Such minimal debt materially reduces refinancing and interest-rate risk for an exploration company. Over a multi-month horizon this provides durable financial flexibility to sustain drilling and studies, pursue opportunistic transactions and avoid forced asset sales under funding stress.

Growing equity and asset base

A materially larger equity base strengthens the balance sheet and provides a broader capital platform to support exploration programs. This structural improvement increases capacity to finance project advancement, absorb setbacks and attract partners over the medium term.

Focused gold exploration in Western Australia

A concentrated, jurisdictionally clear exploration focus offers durable strategic advantages: jurisdictional mining expertise, established services and geologic targets. This specialization enhances odds of resource discovery and makes the company a clearer partner/asset for developers or acquirers.

Negative Factors

Pre-revenue with widening losses

Sustained pre-revenue status and an expanding net loss signal lack of commercial cash flow and delayed project monetization. Over several months this increases the probability of further capital raises, compresses ROE metrics and constrains strategic optionality until resources convert to revenue.

Sharp increase in cash burn

A large, worsening FCF deficit reflects stepped-up exploration and investment outlays without offsetting receipts. This persistent cash burn raises funding dependency, risks timeline delays if markets tighten and can force dilutive financing or scaled-back programs, impairing project momentum.

Negative returns and funding reliance

Negative ROE combined with explicit funding reliance highlights structural profitability and capital-raising risks. Over a 2–6 month horizon this undermines shareholder returns, makes future raises more dilutive, and creates execution risk if investor appetite or access to capital weakens.

Saturn Metals Ltd. Business Overview & Revenue Model

Company Description

Saturn Metals Limited engages in the exploration for precious metals in Australia. The company explores for gold and diamond deposits. Its projects portfolio includes the Apollo Hill project that comprises 31 prospective gold exploration and prospective licenses covering an area of approximately 1,600 square kilometers, including two mining leases and twelve water exploration leases located in Western Australia; and the West Wyalong Gold project that consists of 91km2 brownfield exploration tenements located in the Wagga Wagga. Saturn Metals Limited was incorporated in 2017 and is based in West Perth, Australia.

How the Company Makes Money

Saturn Metals Ltd. generates revenue primarily through the exploration and potential development of gold mineral resources. The company's revenue model is centered on increasing the value of its mining projects through successful exploration and resource expansion, which can lead to profitable extraction operations or strategic partnerships and sales. Key revenue streams include proceeds from potential future gold production, joint ventures, or sales of mining rights and interests. Significant factors contributing to its earnings include successful exploration results, favorable gold market conditions, and strategic partnerships with other mining entities.

Saturn Metals Ltd. Financial Statement Overview

Summary

Financials are mixed: a strong, very low-leverage balance sheet (Balance Sheet Score 72; debt-to-equity ~0.0007 and rising equity base) is offset by pre-revenue operations with widening losses (Income Statement Score 18; FY2025 net loss ~-5.1M vs ~-2.8M FY2024) and accelerating cash burn (Cash Flow Score 22; FY2025 FCF ~-21.7M vs ~-6.8M FY2024), increasing reliance on external funding.

Income Statement

The company remains in a pre-revenue phase with TotalRevenue at 0 across all reported years, so losses are primarily driven by operating and development spend rather than commercial activity. Profitability is weak: FY2025 net income was about -5.1M versus -2.8M in FY2024, and operating losses (EBIT) also widened, indicating a heavier cost base. A modest positive is that losses have not trended in a straight line over the full period, but the most recent year shows clear deterioration.

Balance Sheet

The balance sheet is a relative strength: leverage is extremely low (FY2025 debt-to-equity ~0.0007), giving flexibility to fund exploration without meaningful debt servicing risk. Equity has also grown materially over time (FY2025 stockholders’ equity ~83.8M vs ~17.4M in FY2020), supporting the asset base (FY2025 total assets ~86.5M). The key weakness is continued negative returns on equity (FY2025 ROE around -6%), reflecting ongoing losses and the absence of revenue generation.

Cash Flow

Cash generation is weak and volatile. Operating cash flow is consistently negative (FY2025 about -3.2M), and free cash flow is deeply negative and worsened sharply in FY2025 (about -21.7M vs -6.8M in FY2024), implying a step-up in spending and/or investment. While low debt reduces refinancing pressure, the scale of cash burn increases reliance on external funding if this spending level persists.

Breakdown	TTM	Dec 2025	Dec 2024	Dec 2023	Dec 2022	Dec 2021
Income Statement
Total Revenue	0.00	0.00	0.00	0.00	0.00	0.00
Gross Profit	0.00	-192.46K	-172.65K	-160.09K	-126.71K	-57.45K
EBITDA	-5.32M	-5.32M	-2.60M	-3.42M	-2.15M	-1.90M
Net Income	-5.12M	-5.12M	-2.77M	-3.59M	-2.29M	-1.96M
Balance Sheet
Total Assets	86.51M	86.51M	44.91M	38.86M	36.06M	30.98M
Cash, Cash Equivalents and Short-Term Investments	27.18M	27.18M	4.11M	3.50M	7.11M	8.16M
Total Debt	62.28K	62.28K	142.92K	94.51K	211.42K	197.63K
Total Liabilities	2.68M	2.68M	2.10M	1.33M	834.23K	1.53M
Stockholders Equity	83.83M	83.83M	42.81M	37.53M	35.23M	29.45M
Cash Flow
Free Cash Flow	-21.69K	-21.70M	-6.81M	-7.06M	-6.96M	-9.36M
Operating Cash Flow	-3.22K	-3.22M	-1.54M	-1.65K	-1.68K	-1.37K
Investing Cash Flow	-18.47M	-18.18M	-5.17M	-7.00M	-6.94M	-9.33M
Financing Cash Flow	44.46M	44.46M	7.32M	5.05M	7.58M	13.72M

Saturn Metals Ltd. Technical Analysis

• Technical Analysis Sentiment: Negative
• Last Price: 0.56
• 50DMA: Negative
• 100DMA: Negative
• 200DMA: Positive
• MACD: Negative
• RSI: Neutral
• STOCH: Neutral

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For AU:STN, the sentiment is Negative. The current price of 0.56 is above the 20-day moving average (MA) of 0.51, above the 50-day MA of 0.51, and above the 200-day MA of 0.45, indicating a neutral trend. The MACD of 0.01 indicates Negative momentum. The RSI at 46.76 is Neutral, neither overbought nor oversold. The STOCH value of 58.50 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for AU:STN.

Saturn Metals 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%
DLI	56 Neutral	AU$197.27M	-52.94	-1.53%	―	―	71.98%
WC8	55 Neutral	AU$548.65M	-62.31	-3.24%	―	―	30.85%
POL	52 Neutral	AU$488.27M	-7.06	-209.77%	―	―	-965.24%
STN	50 Neutral	AU$306.22M	-35.81	-8.09%	―	―	-10.71%
HRZ	49 Neutral	AU$307.81M	-6.80	―	―	―	―
MDX	44 Neutral	AU$91.89M	-30.00	-15.72%	―	―	-18.18%

Saturn Metals Ltd. Corporate Events

Saturn Metals’ Apollo Hill PFS Points to Long-Life, High-Return Gold Operation

Saturn Metals has delivered a positive Pre-Feasibility Study for its Apollo Hill Gold Project, outlining a 14-year, standalone bulk open-pit and heap leach operation underpinned by a 1.77Moz production target and a 1.58Moz maiden ore reserve, with strong projected economics including an NPV (8%) of A$973 million, a 51% IRR, rapid capital payback and average annual steady-state production of about 106,000 ounces. The company also reported encouraging drilling results along the Iris Trend that point to further exploration upside, and completed a A$45 million equity placement to institutional and sophisticated investors, leaving it well-funded to pursue a Definitive Feasibility Study in 2026 and potentially enhance Apollo Hill’s scale and financial returns in a buoyant gold price environment.

The most recent analyst rating on (AU:STN) stock is a Hold with a A$0.56 price target. To see the full list of analyst forecasts on Saturn Metals Ltd. stock, see the AU:STN Stock Forecast page.

Saturn Metals Issues New Shares on Employee Performance Rights

Saturn Metals Limited has issued 76,245 fully paid ordinary shares following the exercise of performance rights by employees, modestly increasing the company’s share base. The company confirmed the shares were issued without a prospectus in accordance with Australian corporations law, stating it remains compliant with its financial reporting and continuous disclosure obligations and that there is no excluded material information that investors would reasonably expect in a disclosure document.

The most recent analyst rating on (AU:STN) stock is a Sell with a A$0.45 price target. To see the full list of analyst forecasts on Saturn Metals Ltd. stock, see the AU:STN Stock Forecast page.

Saturn Metals Announces Cessation of 373,755 Listed Options

Saturn Metals Ltd, listed on the ASX under the code STN, has reported the cessation of a tranche of its listed options, specifically options expiring on 27 May 2027 with an exercise price of A$0.40.

The company has notified the market that 373,755 of these options (code STNAM) have ceased as of 20 January 2026, slightly altering its issued capital structure and reducing the pool of potential future equity that could have been raised through the exercise of these securities.

The most recent analyst rating on (AU:STN) stock is a Sell with a A$0.45 price target. To see the full list of analyst forecasts on Saturn Metals Ltd. stock, see the AU:STN Stock Forecast page.

Saturn Metals Seeks ASX Quotation for 76,245 New Ordinary Shares

Saturn Metals Ltd. has applied to the ASX for quotation of 76,245 new fully paid ordinary shares, following the exercise or conversion of existing options or other convertible securities. The modest increase in quoted capital reflects routine capital management rather than a major funding event, but it slightly expands the company’s listed share base and may incrementally enhance liquidity for existing investors.

The most recent analyst rating on (AU:STN) stock is a Sell with a A$0.45 price target. To see the full list of analyst forecasts on Saturn Metals Ltd. stock, see the AU:STN Stock Forecast page.

Saturn Metals Accelerates Major Drill Campaign at Apollo Hill’s Iris Trend

Saturn Metals has mobilised six drill rigs to fast-track a major resource development and step-out drilling campaign along the 2.6km Iris Trend at its Apollo Hill Gold Project in Western Australia. The program, comprising more than 30,000 metres of planned reverse circulation drilling, is targeting near-surface extensions, higher-grade footwall zones and key structures north of the current resource, with the aim of upgrading the existing 2.24Moz mineral resource and 1.58Moz ore reserve. In-fill drilling is also underway in the main deposit area to support resource category upgrades and potential reserve expansion, with results to feed into a Definitive Feasibility Study and updated ore reserve due later this year. Backed by a strong cash position that fully funds work beyond DFS completion, the accelerated campaign underscores Saturn’s confidence in the Apollo Hill system and the recently discovered Iris corridor, with the company flagging potential for a material near-term impact on mineral inventory and its development pathway.

The most recent analyst rating on (AU:STN) stock is a Sell with a A$0.45 price target. To see the full list of analyst forecasts on Saturn Metals Ltd. stock, see the AU:STN Stock Forecast page.

Saturn Metals Seeks ASX Quotation for 200,000 New Ordinary Shares

Saturn Metals Limited has applied to the ASX for quotation of 200,000 new fully paid ordinary shares, with an issue date of 8 January 2026. The additional securities, arising from the exercise or conversion of existing instruments, modestly increase the company’s share capital and reflect ongoing capital management activities that may support its exploration and development programs while slightly diluting existing shareholders.

The most recent analyst rating on (AU:STN) stock is a Hold with a A$0.50 price target. To see the full list of analyst forecasts on Saturn Metals Ltd. stock, see the AU:STN Stock Forecast page.

Saturn Metals Director Sees 600,000 Performance Rights Lapse After Conditions Not Met

Saturn Metals has disclosed a change in the indirect interests of director Ian Bamborough, following the lapse of 600,000 performance rights expiring on 29 November 2026 that were held through associated entities Roman Road Holdings Pty Ltd and IBLC Pty Ltd. The performance rights lapsed with no consideration after vesting conditions were not met, reducing Bamborough’s indirect holding of that particular performance rights tranche to 800,000 while leaving his direct and indirect shareholdings otherwise unchanged, signalling an adjustment to his long-term incentive exposure rather than an on-market transaction.

The most recent analyst rating on (AU:STN) stock is a Hold with a A$0.50 price target. To see the full list of analyst forecasts on Saturn Metals Ltd. stock, see the AU:STN Stock Forecast page.

Saturn Metals Confirms Lapse of 1.78 Million Performance Rights

Saturn Metals Limited has announced the cessation of 1,777,312 performance rights (ASX code STNAE) after they lapsed on 31 December 2025 because the conditions attached to those rights were not, or could no longer be, satisfied. The lapse reduces the company’s pool of potential equity-based incentives tied to these rights and may slightly alter its future capital structure, but does not involve any cash outlay or immediate impact on ordinary shares on issue.

The most recent analyst rating on (AU:STN) stock is a Hold with a A$0.50 price target. To see the full list of analyst forecasts on Saturn Metals Ltd. stock, see the AU:STN Stock Forecast page.

Saturn Metals Corrects Director Interest Notice

Saturn Metals Limited issued a correction to a previously lodged Change of Director’s Interest Notice, specifying the accurate date of change for Mr. Ian Bambrough’s interests as December 17, 2025, instead of the originally noted November 28, 2025. This update ensures transparency in disclosures and aligns with corporate compliance regulations, reflecting the company’s commitment to accurate reporting for its stakeholders.

The most recent analyst rating on (AU:STN) stock is a Buy with a A$1.93 price target. To see the full list of analyst forecasts on Saturn Metals Ltd. stock, see the AU:STN Stock Forecast page.

Saturn Metals Announces Change in Director’s Securities Interest

Saturn Metals Limited announced a change in the interests of Director Ian Bamborough, involving the exercise of vested performance rights and the acquisition of fully paid ordinary shares. This adjustment indicates a strategic realignment in the director’s holdings, reflecting confidence in the company’s prospects and market operations.

The most recent analyst rating on (AU:STN) stock is a Buy with a A$1.93 price target. To see the full list of analyst forecasts on Saturn Metals Ltd. stock, see the AU:STN Stock Forecast page.

Saturn Metals Issues Shares Following Performance Rights Exercise

Saturn Metals Limited announced the issuance of 6,790,666 fully paid ordinary shares to employees through the exercise of performance rights. This move underscores the company’s commitment to employee incentives while ensuring compliance with corporate governance requirements, signaling operational stability and potential strategic growth.

The most recent analyst rating on (AU:STN) stock is a Buy with a A$1.93 price target. To see the full list of analyst forecasts on Saturn Metals Ltd. stock, see the AU:STN Stock Forecast page.

Saturn Metals Announces Quotation of Securities on ASX

Saturn Metals Limited has announced its application for the quotation of 6,790,666 fully paid ordinary securities on the ASX. The new securities, issued as a result of exercised options or converted securities, are expected to enhance the company’s financial flexibility and operations, while potentially reinforcing its position within the mining and exploration sector.

The most recent analyst rating on (AU:STN) stock is a Buy with a A$1.93 price target. To see the full list of analyst forecasts on Saturn Metals Ltd. stock, see the AU:STN Stock Forecast page.

Saturn Metals Unveils Promising PFS for Apollo Hill Gold Project

Saturn Metals Limited has announced a positive Pre-Feasibility Study (PFS) for its Apollo Hill Gold Project, which indicates a long-life, scalable gold mining operation with significant financial returns. The PFS outlines a 14-year life-of-mine with a robust production target and a maiden ore reserve, supported by a strong cash position to fund further development. The project is expected to generate over A$2.5 billion in EBITDA and achieve a rapid payback period, positioning Saturn Metals favorably in the gold mining sector.

The most recent analyst rating on (AU:STN) stock is a Buy with a A$1.93 price target. To see the full list of analyst forecasts on Saturn Metals Ltd. stock, see the AU:STN Stock Forecast page.

Saturn Metals Ltd. Announces Cessation of Securities

Saturn Metals Ltd. has announced the cessation of certain securities, including 165,000 performance rights and 450,000 options, due to unmet conditions and expiry, respectively. This development may impact the company’s capital structure and could influence investor perceptions and market positioning.

The most recent analyst rating on (AU:STN) stock is a Buy with a A$1.93 price target. To see the full list of analyst forecasts on Saturn Metals Ltd. stock, see the AU:STN Stock Forecast page.

Saturn Metals Ltd. Announces Quotation of New Securities on ASX

Saturn Metals Ltd. has announced the quotation of 266,901 fully paid ordinary securities on the Australian Securities Exchange (ASX) as of December 8, 2025. This move is part of the company’s strategy to enhance its financial flexibility and support its ongoing exploration and development activities, potentially impacting its market position and offering new opportunities for stakeholders.

The most recent analyst rating on (AU:STN) stock is a Buy with a A$1.93 price target. To see the full list of analyst forecasts on Saturn Metals Ltd. stock, see the AU:STN Stock Forecast page.

Saturn Metals Ltd. Issues 2.4 Million Unlisted Options to Bolster Financial Flexibility

Saturn Metals Ltd. has announced the issuance of 2,400,000 unlisted options, exercisable at $0.68 per option and expiring on November 25, 2028. This strategic move is expected to strengthen the company’s financial flexibility and support its ongoing exploration and development activities, potentially impacting its market positioning and stakeholder interests positively.

The most recent analyst rating on (AU:STN) stock is a Buy with a A$1.93 price target. To see the full list of analyst forecasts on Saturn Metals Ltd. stock, see the AU:STN Stock Forecast page.

Saturn Metals Announces Director’s Interest Change

Saturn Metals Limited has announced a change in the director’s interest, with Ian Bamborough acquiring 3,003,905 performance rights following shareholder approval on November 28, 2025. This change reflects the company’s ongoing efforts to align management incentives with shareholder interests, potentially impacting the company’s strategic direction and operational focus.

The most recent analyst rating on (AU:STN) stock is a Buy with a A$1.93 price target. To see the full list of analyst forecasts on Saturn Metals Ltd. stock, see the AU:STN Stock Forecast page.

Saturn Metals Announces AGM Results with Key Resolutions Passed

Saturn Metals Limited announced the results of its Annual General Meeting, where all resolutions except one were approved. The re-election of Adrian Goldstone as a Director and the ratification of prior share placements were among the resolutions carried, while the election of a non-board endorsed candidate was not approved.

The most recent analyst rating on (AU:STN) stock is a Buy with a A$1.93 price target. To see the full list of analyst forecasts on Saturn Metals Ltd. stock, see the AU:STN Stock Forecast page.

Saturn Metals Advances Apollo Hill Project Amid Strong Gold Market

Saturn Metals Limited has reported a significant year of progress, marked by a substantial upgrade in its Apollo Hill resource, which now exceeds two million ounces of gold. The company has made strides in project development, exploration, and financial fortification, including a successful capital raising campaign to fund ongoing and future operations. The discovery of the high-grade Iris zone and the completion of a major drilling program have positioned Saturn strongly for its upcoming Pre-Feasibility Study (PFS) results. Despite changes in its board, the company remains optimistic about its future, supported by strong gold market fundamentals.

The most recent analyst rating on (AU:STN) stock is a Buy with a A$1.93 price target. To see the full list of analyst forecasts on Saturn Metals Ltd. stock, see the AU:STN Stock Forecast page.

Saturn Metals Expands Drilling Operations at Apollo Hill Following Positive Results

Saturn Metals Limited has mobilized additional Reverse Circulation drill rigs to its Apollo Hill Gold Project in Western Australia to accelerate resource growth and step-out drilling. This decision follows positive assay results from recent drilling, which have reinforced the potential of the higher-grade Iris Trend and demonstrated the possibility of extending the 2.24Moz Apollo Hill Mineral Resource. The new drilling program aims to convert more Inferred Resources to the Indicated category, supporting the company’s development plans and the upcoming Definitive Feasibility Study. The results are expected to positively impact Saturn’s operations and provide further insights into the project’s potential.

The most recent analyst rating on (AU:STN) stock is a Buy with a A$1.93 price target. To see the full list of analyst forecasts on Saturn Metals Ltd. stock, see the AU:STN Stock Forecast page.

Saturn Metals Director Adjusts Securities Holdings

Saturn Metals Limited has announced a change in the interests of its director, Adrian Goldstone, in the company’s securities. The change involved the acquisition of 233,493 fully paid ordinary shares and the disposal of 500,000 share options. This adjustment in director’s holdings reflects a strategic move within the company’s governance structure, potentially impacting investor perceptions and the company’s stock market performance.

The most recent analyst rating on (AU:STN) stock is a Buy with a A$1.93 price target. To see the full list of analyst forecasts on Saturn Metals Ltd. stock, see the AU:STN Stock Forecast page.

Saturn Metals Ltd. Announces New Securities Quotation on ASX

Saturn Metals Ltd. has announced the issuance of 1,133,972 fully paid ordinary securities, which are set to be quoted on the Australian Securities Exchange (ASX) under the code STN. This move is part of the company’s strategy to enhance its capital structure and support its ongoing exploration and development activities, potentially strengthening its position in the gold mining sector.

The most recent analyst rating on (AU:STN) stock is a Buy with a A$1.93 price target. To see the full list of analyst forecasts on Saturn Metals Ltd. stock, see the AU:STN Stock Forecast page.

Saturn Metals Ltd. Announces Cessation of Securities

Saturn Metals Ltd. announced the cessation of certain securities, specifically options with expiration dates in November 2025 and 2026. This cessation involves a total of 1,066,028 options, which may impact the company’s capital structure and investor relations as it adjusts its financial strategies.

The most recent analyst rating on (AU:STN) stock is a Buy with a A$1.93 price target. To see the full list of analyst forecasts on Saturn Metals Ltd. stock, see the AU:STN Stock Forecast page.

Saturn Metals Director Increases Shareholding Through Option Exercise

Saturn Metals Limited has announced a change in the director’s interest, specifically concerning Brett Lambert. The change involves the exercise of options, resulting in the acquisition of 700,000 fully paid ordinary shares valued at $196,000. This adjustment in shareholding reflects a strategic move by the director, potentially signaling confidence in the company’s future performance.

The most recent analyst rating on (AU:STN) stock is a Buy with a A$1.93 price target. To see the full list of analyst forecasts on Saturn Metals Ltd. stock, see the AU:STN Stock Forecast page.

Saturn Metals Ltd. Issues New Securities Under Employee Incentive Scheme

Saturn Metals Ltd. announced the issuance of 700,000 fully paid ordinary securities, which will be quoted on the Australian Securities Exchange (ASX). This move is part of an employee incentive scheme, reflecting the company’s strategy to motivate and retain talent, potentially impacting its operational efficiency and market competitiveness.

The most recent analyst rating on (AU:STN) stock is a Buy with a A$1.93 price target. To see the full list of analyst forecasts on Saturn Metals Ltd. stock, see the AU:STN Stock Forecast page.