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): 0.92
• 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: 52 Neutral
• Price Target: AU$0.04 ▼(-7.50% Downside)
• Action: Downgraded Date: 01/28/26
• Date: Action: Downgraded 01/28/26

The score is held back primarily by weak financial performance, marked by sustained losses and ongoing cash burn despite a debt-free balance sheet. Technical indicators are supportive with price above major moving averages and a positive MACD, but the elevated RSI points to overbought conditions. Valuation cannot be assessed from the provided data, keeping that component neutral.

Positive Factors

Debt-free balance sheet

A reported absence of debt materially reduces refinancing and interest-rate risk and preserves strategic optionality. Over a 2–6 month horizon this durable financial strength eases liquidity pressure, supports operational continuity and gives management flexibility to pursue financing or M&A on better terms.

Positive shareholders' equity (2023–2025)

Maintaining positive equity across recent years provides a capital buffer that absorbs losses and lowers insolvency risk. This structural cushion supports ongoing operations, helps maintain supplier and counterparty confidence, and preserves the ability to raise capital without immediate distress financing over the medium term.

Cash losses smaller than accounting losses in several years

When free cash flow deficits are smaller than accounting losses it indicates the business consumes less cash than net loss suggests. That durable divergence can reduce near-term funding urgency, extend runway, and allow management time to implement structural fixes or secure measured external financing.

Negative Factors

Sustained operating and net losses

Persistent losses and deeply negative margins signal structural profitability issues such as high fixed costs, low pricing power, or weak scale. Over a multi-month horizon this undermines reinvestment capacity, erodes stakeholder confidence, and makes a return to sustainable profitability dependent on material business-model or cost-structure changes.

Ongoing negative operating and free cash flow

Consistent negative operating and free cash flow reflect genuine cash burn that increases reliance on external funding or asset disposals. This is a durable operational risk: absent a clear path to positive cash generation, financing needs may force dilution or constrain investment and growth for months ahead.

Declining equity and negative returns on equity

A decline in equity and persistently negative ROE indicate cumulative value erosion from ongoing losses. This structural weakening reduces financial flexibility, raises the risk of more dilutive capital raises, and impairs the company's ability to finance strategic initiatives or withstand further operational setbacks over the medium term.

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

Income statement is very weak with persistent losses (2022–2025) and deeply negative margins, alongside volatile revenue and widening losses. Balance sheet is a relative positive with no reported debt and positive equity, but equity declined in 2025 and returns are meaningfully negative. Cash flow is also weak with ongoing negative operating cash flow and free cash flow, indicating continued cash burn.

Income Statement

Annual results show very weak profitability: the company has remained loss-making from 2022–2025, with deeply negative operating and net margins in 2024–2025. Revenue is volatile and small relative to the cost base—rising in 2024 but falling sharply in 2025—while losses widened, indicating limited operating leverage and poor earnings quality at this stage.

Balance Sheet

Balance sheet is a relative bright spot with no reported debt and positive equity in 2023–2025, which reduces financial risk. However, equity declined from 2024 to 2025 and returns on equity are meaningfully negative in recent years, reflecting ongoing value dilution from sustained losses.

Cash Flow

Cash generation is weak: operating cash flow and free cash flow are negative each year shown, and free cash flow deterioration continued in 2025. While free cash flow losses are smaller than accounting losses in several years, the business still consumes cash, increasing reliance on external funding if this persists.

Breakdown	Jun 2025	Jun 2024	Jun 2023	Jun 2022
Income Statement
Total Revenue	97.64K	418.38K	66.29K	0.00
Gross Profit	97.64K	418.38K	66.29K	0.00
EBITDA	-4.66M	-3.20M	-791.61K	0.00
Net Income	-4.90M	-4.82M	-959.81K	-1.64M
Balance Sheet
Total Assets	11.78M	13.35M	6.10M	828.42K
Cash, Cash Equivalents and Short-Term Investments	1.41M	2.23M	2.46M	800.75K
Total Debt	0.00	0.00	0.00	0.00
Total Liabilities	133.07K	205.93K	352.97K	1.01M
Stockholders Equity	11.65M	13.14M	5.75M	-179.95K
Cash Flow
Free Cash Flow	-3.07M	-3.82M	-1.78M	-398.72K
Operating Cash Flow	-1.49M	-886.19K	-881.26K	-398.72K
Investing Cash Flow	-1.58M	-2.62M	-687.81K	-14.86K
Financing Cash Flow	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: Positive
• 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 below 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 neutral trend. The MACD of >-0.01 indicates Positive momentum. The RSI at 49.08 is Neutral, neither overbought nor oversold. The STOCH value of 56.67 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	52 Neutral	―	―	―	―	―	―
AIV	47 Neutral	AU$5.98M	-4.58	-38.30%	―	―	61.60%
KLR	45 Neutral	AU$22.11M	-43.55	―	―	―	―
OKJ	44 Neutral	AU$5.76M	-10.69	-38.56%	―	―	21.62%
SLZ	43 Neutral	AU$9.36M	-0.67	-78.12%	―	―	-349.06%
PRL	38 Underperform	AU$2.36M	-5.00	-26.98%	―	―	4.35%

Summit Minerals Limited Corporate Events

Summit Minerals Delays General Meeting as Keystone Acquisition Timeline Extended

Summit Minerals Limited has postponed its general meeting from 5 February to 27 February 2026, with existing proxies remaining valid, in order to allow more time to progress the proposed acquisition of the Keystone Project in Nevada, whose completion deadline has been extended to 8 March 2026 following holiday-related delays. While finalising the deal, the company has completed an aeromagnetic survey as part of its early field campaign at Keystone, with post-processing underway and the results set to guide drilling design over the main prospect in 2026, underscoring the project’s growing operational importance within Summit’s critical minerals portfolio.

The most recent analyst rating on (AU:SUM) stock is a Hold with a A$0.05 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 High-Grade Keystone Project and Raises Capital for Nevada Exploration

Summit Minerals has acquired 100% of the historic high-grade Keystone polymetallic project in Nevada, securing a 1,036-acre land package with significant patented holdings in a major skarn district that has historically produced silver, gold, lead, zinc, molybdenum and tungsten. The project, located near the mining hub of Winnemucca at the northern end of the Pershing Trend, hosts known silver, tungsten and gold mineralisation, with historic silver production averaging more than 1,000 g/t and reported scheelite occurrences, positioning the company to benefit from US critical metals policy amid zero domestic tungsten production. During the quarter the company also raised approximately A$1.08 million via a rights issue to fund exploration, initiated a UAV magnetic survey as the first modern exploration at Keystone since 1943 to guide drilling planned for early 2026, and flagged a rebrand to Western Ridge Resources Limited to reflect its broadened focus on precious and critical minerals.

The most recent analyst rating on (AU:SUM) stock is a Sell 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 Launches Drone Aeromagnetic Survey at Keystone Project in Nevada

Summit Minerals has commenced a low-altitude UAV aeromagnetic survey at its recently acquired Keystone Project in northern Nevada, engaging Pioneer Exploration Consultants to fly 210 line-kilometres over the Keystone Main, Marble Rock and 599 prospects. The high‑resolution magnetic data, now being processed with results expected in about three weeks, will underpin the first significant exploration work at Keystone since mining ceased in 1943 and is intended to refine structural targets for a preliminary drilling campaign planned for early 2026, marking a key step in building a modern geological model and potentially revitalising this historic mining area.

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 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.