Summit Minerals Limited (SUM) AI Stock Analysis

• Market Cap: N/A
• Dividend Yield: N/A
• Average Volume (3M): 318.67K
• Price to Earnings (P/E): ―
• Beta (1Y): 0.71
• Revenue Growth: N/A
• EPS Growth: N/A
• Country: AU
• Employees: N/A
• Sector: Basic Materials
• Sector Strength: 58
• Industry: Industrial Materials
• EPS (TTM): N/A
• Shares Outstanding: 143,873,250
• 10 Day Avg. Volume: 416,738
• 30 Day Avg. Volume: 318,669
• PEG Ratio: 0.02
• Price to Book (P/B): 0.23
• Price to Sales (P/S): 28.01
• P/FCF Ratio: -0.89
• 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: 49 Neutral
• Price Target: AU$0.04 ▲(0.00% Upside)

The score is primarily held back by weak financial performance—persistent losses and continued negative operating/free cash flow—despite a relatively stronger balance sheet with no reported debt. Technicals offer only modest support (price above key moving averages with generally neutral momentum), while valuation cannot be meaningfully assessed because P/E and dividend yield are not available.

Positive Factors

No reported debt and positive equity

Having no reported debt and maintained positive equity through 2023–2025 materially lowers solvency and refinancing risk. This structural balance-sheet strength gives management flexibility to navigate continued cash burn, access capital on better terms, and prioritize investment or restructuring over immediate deleveraging.

Free cash flow smaller than accounting losses

Free cash flow losses being smaller than GAAP losses suggests non-cash charges drive much of reported losses, so actual cash consumption is less severe. That improves the firm's operational runway, reduces near-term liquidity pressure, and makes recovery more feasible if revenue stabilizes or cost discipline is applied.

Lower systematic volatility (beta ~0.70)

A lower beta (~0.70) indicates the company's returns have historically been less sensitive to broad market swings, reflecting comparatively lower systematic risk. This structural characteristic can support steadier access to capital and reduce the likelihood of panic-driven funding stress during market turbulence versus higher-beta peers.

Negative Factors

Multi-year loss-making

Sustained multi-year losses and deeply negative margins indicate the business lacks operating leverage and consistent profitability. Over the medium term, this erodes shareholder value, limits reinvestment capacity, and increases the risk of continual equity dilution or dependence on external financing to sustain operations.

Persistent negative operating and free cash flow

Consistent negative operating and free cash flow reduces financial flexibility and forces reliance on external funding. Structural cash burn constrains ability to invest in growth, meet working capital needs, or absorb shocks, raising long-term solvency risk if cash generation does not materially improve.

Volatile and shrinking revenue

Highly volatile and recently shrinking revenue undermines prospects for sustainable margin recovery. Small, unpredictable sales make fixed-cost coverage and capital allocation difficult, reducing operating leverage and increasing the likelihood that the firm cannot reach a breakeven scale without significant structural changes.

Summit Minerals Limited Business Overview & Revenue Model

Company Description

Summit Minerals Limited engages in the acquisition, exploration, and development of battery mineral projects in Australia. The company primarily explores for uranium, gold, antimony, and pegmatite lithium deposits. It holds 100% interests in the Stallion Rare Earth Element (REE) uranium project comprising one exploration tenement that covers an area of 18 square kilometers located in south-eastern Western Australia; the Windfall Antimony project, which includes one exploration tenement that covers an area of 234 square kilometers situated in north-east New South Wales; and the Phillips River Lithium project consisting of two granted exploration tenements covering an area of 42.6 square kilometers located in Western Australia. The company also holds 100% interests in the Northern Lithium REE project comprising two granted exploration tenements covering an area of 78 square kilometers located in Western Australia; and the Bridgetown Lithium project, which includes two granted exploration tenements located north and south of Bridgetown in Western Australia. Summit Minerals Limited was incorporated in 2021 and is headquartered in Mount Hawthorn, Australia.

How the Company Makes Money

Summit Minerals Limited generates revenue through the exploration and development of mineral resource projects, with the aim of discovering commercially viable deposits that can be sold or developed into mining operations. The company may enter into joint ventures or partnerships with other mining companies to share the risks and costs associated with exploration and development. Additionally, once mineral deposits are proven to be economically feasible, Summit Minerals can either sell the rights to these deposits to larger mining companies or proceed to the extraction phase, thereby earning revenue from the sale of extracted minerals to industrial clients. Factors such as commodity prices, exploration success, and strategic partnerships significantly impact the company's earnings.

Summit Minerals Limited Financial Statement Overview

Summary

Summit Minerals Limited faces ongoing challenges with profitability and cash generation, although it benefits from a solid equity base and no debt. Revenue growth is a positive sign, but translating this into profits and positive cash flow remains a critical area for improvement. The company needs to enhance operational efficiencies and manage its cost structure to improve financial health.

Income Statement

Summit Minerals Limited shows increasing revenue, but continues to face significant challenges in profitability, with negative EBIT and net income margins. The company has experienced substantial revenue growth, yet struggles to convert this into positive earnings, indicating inefficiencies and high operational costs.

Balance Sheet

The company maintains a strong equity position with no debt, which indicates financial stability. However, the return on equity is negative due to ongoing losses. The strong equity ratio and absence of debt are positive aspects, providing room for future leverage if needed.

Cash Flow

Cash flow analysis reveals negative operating and free cash flows, indicating challenges in generating cash from core operations. The company relies on financing activities for cash, which is not sustainable in the long term. The free cash flow position has deteriorated, suggesting the need for improved operational efficiency.

Breakdown	TTM	Dec 2025	Dec 2024	Dec 2023	Dec 2022
Income Statement
Total Revenue	97.64K	97.64K	418.38K	66.29K	0.00
Gross Profit	97.64K	97.64K	418.38K	66.29K	0.00
EBITDA	-4.66M	-4.66M	-3.20M	-791.61K	0.00
Net Income	-4.90M	-4.90M	-4.82M	-959.81K	-1.64M
Balance Sheet
Total Assets	11.78M	11.78M	13.35M	6.10M	828.42K
Cash, Cash Equivalents and Short-Term Investments	1.41M	1.41M	2.23M	2.46M	800.75K
Total Debt	0.00	0.00	0.00	0.00	0.00
Total Liabilities	133.07K	133.07K	205.93K	352.97K	1.01M
Stockholders Equity	11.65M	11.65M	13.14M	5.75M	-179.95K
Cash Flow
Free Cash Flow	-3.07M	-3.07M	-3.82M	-1.78M	-398.72K
Operating Cash Flow	-1.49M	-1.49M	-886.19K	-881.26K	-398.72K
Investing Cash Flow	-1.58M	-1.58M	-2.62M	-687.81K	-14.86K
Financing Cash Flow	2.25M	2.25M	3.28M	3.23M	514.30K

Summit Minerals Limited Technical Analysis

• Technical Analysis Sentiment: Positive
• Last Price: 0.04
• 50DMA: Positive
• 100DMA: Positive
• 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:SUM, the sentiment is Positive. The current price of 0.04 is above the 20-day moving average (MA) of 0.04, above the 50-day MA of 0.04, and above the 200-day MA of 0.04, indicating a bullish trend. The MACD of <0.01 indicates Negative momentum. The RSI at 54.36 is Neutral, neither overbought nor oversold. The STOCH value of 75.00 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for AU:SUM.

Summit Minerals Limited 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%
SUM	49 Neutral	―	―	―	―	―	―
OKJ	46 Neutral	AU$6.86M	-12.93	-38.56%	―	―	21.62%
KLR	44 Neutral	AU$23.95M	-52.26	―	―	―	―
SLZ	44 Neutral	AU$7.61M	-0.55	-78.12%	―	―	-349.06%
AIV	44 Neutral	AU$5.98M	-4.58	-38.30%	―	―	61.60%
PRL	38 Underperform	AU$5.91M	-5.45	-26.98%	―	―	4.35%

Summit Minerals Limited Corporate Events

Summit Minerals Sets February 2026 General Meeting, Encourages Proxy Voting

Summit Minerals Limited has called a General Meeting of shareholders for 10:00am (WST) on 5 February 2026 in Cottesloe, Western Australia, and is distributing the Notice of Meeting and related documents electronically via its website and ASX announcements page rather than posting hard copies by default. The company is urging shareholders to lodge directed proxy votes, preferably appointing the Chair, ahead of the stated proxy cut-off, with all resolutions to be decided by poll based on proxies received and votes cast at the meeting, underscoring the importance of shareholder participation in upcoming corporate decisions.

The most recent analyst rating on (AU:SUM) stock is a Hold with a A$0.04 price target. To see the full list of analyst forecasts on Summit Minerals Limited stock, see the AU:SUM Stock Forecast page.

Summit Minerals Rebrands as Western Ridge Resources After Keystone Deal

Summit Minerals Limited, an Australian-listed explorer of battery and critical minerals, is expanding its international footprint through strategic projects in Nevada and Brazil, focused on high-demand metals such as silver, tungsten, niobium and tantalum. The company plans to change its name to Western Ridge Resources Limited and adopt the ASX ticker WRX, aligning its corporate identity with the recent acquisition of the polymetallic Keystone Project in Nevada, a mining-friendly jurisdiction. This move, subject to shareholder approval at a general meeting on 5 February 2026, signals a strategic shift toward high-grade silver and other critical technology metals, positioning the company to benefit from rising global demand and to enhance long-term growth prospects and value creation for shareholders.

The most recent analyst rating on (AU:SUM) stock is a Hold with a A$0.04 price target. To see the full list of analyst forecasts on Summit Minerals Limited stock, see the AU:SUM Stock Forecast page.

Summit Minerals Acquires Historic Keystone Mine in Nevada

Summit Minerals Limited has announced the acquisition of the historic Keystone Mine in Nevada, known for its high-grade silver, gold, and tungsten deposits. This acquisition positions Summit strategically within the emerging Pershing silver and base metals trend, enhancing its portfolio with a polymetallic project that complements its existing assets. The Keystone Project’s location in a well-established mining district and its proximity to significant mining infrastructure provide Summit with a promising opportunity to expand its operations and increase shareholder value.

Summit Minerals Limited Announces Proposed Securities Issue

Summit Minerals Limited has announced a proposed issue of 40,404,000 ordinary fully paid securities, with the issue date set for February 5, 2026. This strategic move is likely aimed at raising capital to support the company’s operations and growth initiatives, potentially impacting its market positioning and offering new opportunities for stakeholders.

Summit Minerals Issues 5 Million Unquoted Options

Summit Minerals Limited has announced the issuance of 5,000,000 unquoted options exercisable at $0.045, which will expire on December 8, 2028. This move is part of a previously announced transaction and is not intended to be quoted on the ASX, indicating a strategic financial maneuver to potentially bolster future capital or incentivize stakeholders.

Summit Minerals Announces Director’s Interest Change

Summit Minerals Limited has announced a change in the interests of its director, Matthew Cobb, involving the acquisition and disposal of performance rights and options. This change, approved by shareholders at the Annual General Meeting, results in Cobb holding 2,900,000 performance rights expiring in December 2028, and 1,000,000 options exercisable at $0.22 expiring in April 2028. The adjustment in Cobb’s securities holdings reflects strategic decisions made by the company to align with shareholder interests and potentially impact the company’s governance and market perception.

Summit Minerals Limited Announces Quotation of New Securities

Summit Minerals Limited has announced the quotation of 22,510,109 fully paid ordinary securities on the Australian Securities Exchange (ASX), effective from November 5, 2025. This move is part of a previously announced transaction, indicating a strategic step in enhancing the company’s capital structure and market presence, potentially impacting its operational capabilities and stakeholder interests.

Summit Minerals Limited Announces Quotation of New Securities on ASX

Summit Minerals Limited has announced the quotation of 13,457,878 fully paid ordinary securities on the Australian Securities Exchange (ASX) as of November 5, 2025. This move is part of previously announced transactions and is expected to enhance the company’s liquidity and investor base, potentially strengthening its position in the mining sector.

Summit Minerals Announces Entitlement Offer Results and Shortfall Allocation

Summit Minerals Limited announced the results of its non-renounceable entitlement offer, which closed on 29 October 2025. The offer allowed shareholders to subscribe for new shares at $0.03 each, resulting in the issuance of 13,457,878 new shares, representing 37.41% of the total entitlements. The shortfall of 22,510,109 shares will be allocated at the discretion of CPS Capital Group. Proceeds from the offer will fund exploration activities in Brazil, project acquisitions, and general corporate purposes, potentially enhancing the company’s operational capabilities and market positioning.

Summit Minerals Expands Equador Project Anomalism and Secures Funding

Summit Minerals Limited has reported significant progress in its Equador Project in Brazil, with soil sampling revealing extensive anomalism across more than 50% of the project area. This development enhances the prospectivity of the site for rare earth elements, particularly niobium and tantalum. The company has also completed a $1.67 million placement and rights issue, supported by new investors, to fund further exploration activities. These advancements position Summit Minerals to potentially capitalize on the growing demand for rare earth elements, thereby strengthening its market presence and offering promising opportunities for stakeholders.

Summit Minerals Launches Rights Offer to Fund Brazilian Exploration

Summit Minerals Limited has announced a pro-rata non-renounceable rights offer to raise up to $1,079,049 by issuing new shares to eligible shareholders in Australia and New Zealand. The funds will be used to further exploration activities in Brazil and evaluate new project opportunities, while shareholders outside these regions will not be eligible to participate, leading to potential dilution of their shares.

Summit Minerals Announces Rights Offer to Fund Exploration in Brazil

Summit Minerals Limited has announced a pro-rata non-renounceable rights offer to raise up to $1,079,049 by issuing one new share for every three shares held by eligible shareholders at $0.03 per share. The funds raised will be used to further exploration activities in Brazil, evaluate new project opportunities, and for general corporate purposes, potentially impacting the company’s growth and market positioning.

Summit Minerals Announces $1.08M Entitlement Offer to Fund Exploration Projects

Summit Minerals Limited has announced a pro-rata non-renounceable entitlement offer to raise up to $1,079,049 by issuing one fully paid ordinary share for every three shares held, at an issue price of $0.03 per share. The offer is open to eligible shareholders in Australia and New Zealand, with the prospectus and entitlement forms dispatched via email or mail. The subscription period is from 13 October 2025 to 29 October 2025, and shareholders can access their forms online. This capital-raising initiative is part of Summit’s strategy to fund its exploration and development projects, potentially enhancing its market position in the battery minerals sector.

Summit Minerals Announces AGM Date and Director Nomination Deadline

Summit Minerals Limited has announced the date for its Annual General Meeting (AGM), which is set for November 28, 2025. The company has also set October 16, 2025, as the deadline for director nominations. This announcement is part of Summit’s ongoing efforts to maintain transparency and engage stakeholders in its governance processes.