E2 Metals Ltd. (AU:USL)
ASX:USL
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E2 Metals Ltd.
(Sydney:USL)
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Rating:44Neutral
Price Target:
AU$0.68
â–¼(-0.87% Downside)
Action:ReiteratedDate:03/24/26
The score is held down primarily by weak financial performance (large and widening losses with sustained cash burn) and bearish technicals (price below key moving averages with negative MACD and oversold momentum). A debt-light balance sheet provides some support, but valuation offers limited help given negative earnings and no dividend.
Positive Factors
Debt-light balance sheet
A near-zero debt profile materially reduces fixed financing obligations and covenant risk, giving management flexibility to pursue exploration cycles, structure JVs or option deals, and survive commodity downcycles without immediate refinancing pressure. This is a durable financial strength.
Negative Factors
Sustained negative operating cash flow
Persistent and worsening operating cash burn forces continual reliance on external funding, limiting the company's ability to self-fund exploration or scale operations. Over several months this elevates financing risk, can delay project timelines, and increases potential dilution or unfavorable deal terms.
Read all positive and negative factors
Positive Factors
Negative Factors
Debt-light balance sheet
A near-zero debt profile materially reduces fixed financing obligations and covenant risk, giving management flexibility to pursue exploration cycles, structure JVs or option deals, and survive commodity downcycles without immediate refinancing pressure. This is a durable financial strength.
Read all positive factors
E2 Metals Ltd. (USL) vs. iShares MSCI Australia ETF (EWA)
Market Cap
AU$370.38M
Dividend YieldN/A
Average Volume (3M)3.81M
Price to Earnings (P/E)―
Beta (1Y)2.89
Revenue GrowthN/A
EPS Growth-32.31%
CountryAU
EmployeesN/A
SectorBasic Materials
Sector Strength58
IndustrySilver
Share Statistics
EPS (TTM)>-0.01
Shares Outstanding633,120,060
10 Day Avg. Volume3,993,234
30 Day Avg. Volume3,811,675
Financial Highlights & Ratios
PEG Ratio>-0.01
Price to Book (P/B)7.90
Price to Sales (P/S)30.96
P/FCF Ratio-4.89
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price Target
AU$1.85Price Target Upside168.12% Upside
Rating ConsensusModerate Buy
Number of Analyst Covering1
EPS Forecast (FY)-0.01
Revenue Forecast (FY)N/A
E2 Metals Ltd. Business Overview & Revenue Model
Company Description
Unico Silver Limited engages in the exploration and evaluation of mineral deposits in Australia and Argentina. It explores for gold, silver, and copper deposits. Its flagship property is the Santa Cruz project covering an area of approximately 90,...
How the Company Makes Money
E2 Metals Ltd. generates revenue primarily through the exploration and subsequent development of mineral deposits, which can later be monetized through the sale of discovered assets, joint ventures, or transitioning into production operations if v...
E2 Metals Ltd. Financial Statement Overview
Summary
Income Statement
18
Very Negative
Balance Sheet
62
Positive
Cash Flow
22
Negative
| Breakdown | TTM | Jun 2025 | Jun 2024 | Jun 2023 | Jun 2022 | Jun 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 2.75M | 2.75M | 950.76K | 61.47K | 0.00 | 0.00 |
| Gross Profit | 2.75M | 2.75M | -83.64K | 1.06K | -69.57K | -17.97K |
| EBITDA | -17.20M | -23.75M | -2.95M | -17.69M | -10.11M | -6.16M |
| Net Income | -19.38M | -24.00M | -2.83M | -17.69M | -8.93M | -5.20M |
Balance Sheet | ||||||
| Total Assets | 150.41M | 15.02M | 6.72M | 10.45M | 11.18M | 12.37M |
| Cash, Cash Equivalents and Short-Term Investments | 66.73M | 12.50M | 5.05M | 8.53M | 10.68M | 11.04M |
| Total Debt | 0.00 | 0.00 | 0.00 | 171.23K | 205.19K | 0.00 |
| Total Liabilities | 2.12M | 4.26M | 2.66M | 3.78M | 633.97K | 186.28K |
| Stockholders Equity | 148.29M | 10.76M | 4.06M | 10.04M | 13.66M | 13.86M |
Cash Flow | ||||||
| Free Cash Flow | -29.72M | -17.38M | -2.58M | -2.41M | -13.63M | -10.53M |
| Operating Cash Flow | -15.22M | -17.29M | -2.58M | -5.07M | -13.63M | -10.39M |
| Investing Cash Flow | -15.31M | -3.71M | -867.05K | -2.66M | 5.28M | 3.52M |
| Financing Cash Flow | 71.91M | 28.44M | -30.50K | 5.61M | 7.94M | 14.52M |
E2 Metals Ltd. Technical Analysis
Positive
0.69
Price Trends
0.76
Negative
0.80
Negative
0.64
Positive
Market Momentum
-0.03
Negative
49.98
Neutral
82.85
Negative
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For AU:USL, the sentiment is Positive. The current price of 0.69 is above the 20-day moving average (MA) of 0.63, below the 50-day MA of 0.76, and above the 200-day MA of 0.64, indicating a neutral trend. The MACD of -0.03 indicates Negative momentum. The RSI at 49.98 is Neutral, neither overbought nor oversold. The STOCH value of 82.85 is Negative, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for AU:USL.
E2 Metals 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% | |
49 Neutral | AU$237.14M | -4.78 | -8.87% | ― | ― | 99.23% | |
46 Neutral | AU$355.21M | -64.96 | -1.97% | ― | 104.04% | 25.00% | |
46 Neutral | AU$236.46M | -13.93 | -19.05% | ― | ― | -155.62% | |
44 Neutral | AU$370.38M | -26.90 | -24.37% | ― | ― | -32.31% | |
42 Neutral | AU$37.93M | -14.39 | -14.46% | ― | ― | -67.35% |
* Basic Materials Sector Average
AU:USL
E2 Metals Ltd.
0.59
0.36
154.35%
AU:SVL
Silver Mines Limited
0.17
0.06
50.00%
AU:TGM
Theta Gold Mines
0.21
0.06
46.43%
AU:PTR
Petratherm Ltd
0.10
-0.15
-61.60%
AU:SS1
Sun Silver Ltd.
1.29
0.63
96.18%
E2 Metals Ltd. Corporate Events
Unico Silver Grants Performance Rights to Director Peter Holmes
Apr 10, 2026
Unico Silver Limited has updated the market on a change in director Peter Holmes’ interests, following the issue of 2,250,000 unquoted performance rights. The rights, which expire on 8 April 2031, were granted for nil consideration after sha...
Unico Silver Grants Additional Performance Rights to Director Peter Canterbury
Apr 8, 2026
Unico Silver Limited has disclosed a change in the interests of director Peter Canterbury, following shareholder approval at a recent general meeting. Through his associated entity, Cantley Investments Pty Ltd, Canterbury has been issued 2,250,000...
Unico Silver Issues 9.8 Million Unquoted Performance Rights Under Incentive Plan
Apr 8, 2026
Unico Silver Limited has notified the market of the issue of 9,800,000 unquoted performance rights under its employee incentive scheme. The new securities, which are subject to transfer restrictions and will not be quoted on the ASX, underscore th...
Unico Silver Shareholders Back Capital Raising and Executive Incentives at 2026 Meeting
Mar 27, 2026
Unico Silver Limited has reported the outcomes of its 2026 Extraordinary General Meeting, where shareholders voted on key capital and remuneration resolutions. The meeting was conducted in line with Australian corporate and listing rules, reflecti...
Unico Silver Releases Half-Year Financial Report for December 2025
Mar 12, 2026
Unico Silver Limited has released its half-year report for the period ended 31 December 2025, detailing the company’s financial performance and position. The report package includes directors’ commentary, auditor’s independence d...
Unico Silver Hits High-Grade Gold-Silver at Joaquin as Resource Update Nears
Mar 11, 2026
Unico Silver has reported high-grade gold-silver assay results from 56 drill holes at its Joaquin Project in Argentina, confirming shallow oxide mineralisation at the Breccia Puntudo prospect and strong intercepts at La Negra SE and La Morocha SE....
S&P Dow Jones Indices Reshapes S&P/ASX Benchmarks in March 2026 Rebalance
Mar 6, 2026
SP Dow Jones Indices has announced a wide-ranging quarterly rebalance of its SP/ASX indices, effective before trading on 23 March 2026, reshaping the composition of key Australian equity benchmarks. The SP/ASX 20 will see Northern Star Resources j...
Unico Silver Options Lapse Trims Potential Dilution in Capital Structure
Mar 2, 2026
Unico Silver Limited has reported the lapse of 200,000 options that expired unexercised on 2 March 2026, as disclosed in an Appendix 3H notification to the ASX. The cessation of these options marginally reduces the company’s potential diluti...
Unico Silver Issues 350,000 New Shares on Option Conversion
Feb 25, 2026
Unico Silver has issued 350,000 fully paid ordinary shares following the conversion of an equivalent number of unlisted options on 24 February 2026. The new shares were issued without a prospectus under the Corporations Act, with the company confi...
Unico Silver Seeks ASX Quotation for 350,000 New Shares
Feb 24, 2026
Unico Silver Limited has applied to the ASX for quotation of 350,000 new ordinary fully paid shares, following the exercise of options or conversion of other securities. The new shares, issued on 24 February 2026, modestly expand the company’...
Unico Silver Issues 10.9 Million Shares Following Option Conversions
Feb 2, 2026
Unico Silver Limited has issued 10,930,000 fully paid ordinary shares following the conversion of an equivalent number of unlisted options on 2 February 2026, with the new shares issued without the need for a disclosure document under the Corporat...
Unico Silver Seeks ASX Quotation for 10.9 Million New Shares
Feb 2, 2026
Unico Silver Limited has applied for quotation on the ASX of 10,930,000 new fully paid ordinary shares under the code USL, with an issue date of 2 February 2026. The additional securities, arising from the exercise or conversion of existing instru...
Unico Silver Highlights Ongoing Drilling and PFS as It Pursues Tier-One Status
Feb 2, 2026
Unico Silver has released an investor presentation outlining its progress as it positions itself as the next tier-one silver development company, highlighting ongoing drilling and a pre-feasibility study in progress at its key projects. The update...
Unico Silver Appoints New Director Peter Holmes With No Current Shareholdings
Jan 27, 2026
Unico Silver Limited has appointed Peter Holmes as a director effective 27 January 2026, according to a filing with the ASX. The company disclosed that Holmes currently holds no relevant interests in Unico Silver securities, either directly or ind...
Unico Silver Bolsters Board as Joaquin and Cerro Leon Move Toward Development
Jan 27, 2026
Unico Silver has strengthened its board and executive team with the appointment of veteran mining executive Peter Holmes as Executive Director and Chair of the Technical Committee, and the transition of director Peter Canterbury to an Executive Di...
Unico Silver Director Reshapes Equity Stake Through Option Exercise and Share Sale
Jan 23, 2026
Unico Silver Limited has disclosed a change in director Peter Mullens’ interests following the exercise of 2 million unlisted options at $0.27 each into fully paid ordinary shares, alongside the sale of 1.25 million shares at $1.05 per share...
Unico Silver Director Rebalances Holdings After Option Conversion
Jan 23, 2026
Unico Silver Limited has reported a change in the interests of director Todd Jarrad Williams, who converted 1.5 million unlisted options into 1.5 million fully paid ordinary shares on 23 January 2026. Following the conversion, Williams disposed of...
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.