Harvest Minerals (HMI) AI Stock Analysis

• Market Cap: £1.13M
• Dividend Yield: N/A
• Average Volume (3M): 722.48K
• Price to Earnings (P/E): ―
• Beta (1Y): -0.52
• Revenue Growth: N/A
• EPS Growth: N/A
• Country: UK
• Employees: 4
• Sector: Basic Materials
• Sector Strength: 58
• Industry: Agricultural Inputs
• EPS (TTM): >-0.01
• Shares Outstanding: 503,169,220
• 10 Day Avg. Volume: 127,775
• 30 Day Avg. Volume: 722,484
• PEG Ratio: 0.07
• Price to Book (P/B): 0.51
• Price to Sales (P/S): 0.87
• P/FCF Ratio: -5.67
• 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: 39 Underperform
• Price Target: 0.26p ▲(18.18% Upside)

The score is driven primarily by severe financial deterioration (losses, margin collapse, and cash burn) and a weakening balance-sheet risk profile. Technicals add significant downside pressure with a clear downtrend and negative momentum. Valuation provides limited offset because losses make P/E uninformative and no dividend yield is provided.

Positive Factors

Historical margin and revenue capability

Prior years (notably 2022) demonstrated the company can achieve healthy gross margins and meaningful revenue, indicating underlying product-market fit and operational scalability. That durable capability suggests recovery potential if pricing, costs, or volumes normalize over the medium term.

Equity cushion remains

A positive equity base and still-moderate leverage provide a tangible solvency buffer, giving the company structural flexibility to absorb near-term losses and access financing. This cushion materially reduces immediate default risk and supports strategic options over the next several months.

Proven cash generation in 2022

The 2022 operating cash flow strength proves the business can convert sales into cash under supportive conditions. That historical cash-generation ability is a durable positive: management can potentially restore cash conversion if revenue and margins recover, helping limit future funding needs.

Negative Factors

Revenue decline and gross margin collapse

A large revenue drop and collapse in gross margin indicate severe deterioration in unit economics and pricing power. Persistently weak margins erode profitability, limit reinvestment, and increase the likelihood of structural cost or pricing changes required to restore sustainable earnings.

Persistent negative cash flow

Repeated negative operating and free cash flows imply the business is structurally consuming cash, raising the probability of additional external financing. Ongoing cash burn reduces strategic flexibility and increases dilution or covenant risk, threatening medium-term viability without corrective action.

Rapidly rising leverage and capital erosion

Accelerating debt growth alongside declining assets and equity heightens solvency and refinancing risk. Rising leverage increases interest burdens and reduces financial resilience, constraining investment and amplifying vulnerability to industry cycles and sustained weak operating performance.

Harvest Minerals Business Overview & Revenue Model

Company Description

Harvest Minerals Limited engages in the mineral exploration and production of organic natural fertilizers in Brazil. It holds 100% interests in the Arapua fertilizer project located in the state of Minas Gerais in Brazil; the Mandacaru phosphate project comprising three exploration licenses covering an area of 5,908.67 hectares located in the Ceara State, Brazil; and the Sergi potash project located in the Sergipe State, Brazil. The company was formerly known as Triumph Tin Limited and changed its name to Harvest Minerals Limited in December 2014. Harvest Minerals Limited was incorporated in 2010 and is based in Perth, Australia.

How the Company Makes Money

Harvest Minerals Financial Statement Overview

Summary

Income Statement

Balance Sheet

Cash Flow

Breakdown	TTM	Dec 2024	Dec 2023	Dec 2022	Dec 2021	Dec 2020
Income Statement
Total Revenue	1.69M	2.65M	3.13M	8.63M	4.86M	1.95M
Gross Profit	258.11K	90.54K	1.48M	5.76M	3.59M	1.24M
EBITDA	-2.53M	-3.00M	-2.69M	755.95K	-4.13M	-3.23M
Net Income	-2.88M	-3.67M	-3.18M	197.80K	-4.17M	-3.32M
Balance Sheet
Total Assets	4.25M	9.07M	11.61M	10.75M	9.22M	13.31M
Cash, Cash Equivalents and Short-Term Investments	255.60K	1.01M	795.55K	2.72M	1.71M	2.99M
Total Debt	1.66M	3.17M	2.79M	245.68K	253.53K	0.00
Total Liabilities	2.28M	4.56M	4.28M	1.04M	607.21K	264.54K
Stockholders Equity	1.98M	4.51M	7.33M	9.71M	8.61M	13.04M
Cash Flow
Free Cash Flow	55.39K	-405.24K	-1.02M	406.01K	-1.34M	-2.31M
Operating Cash Flow	101.45K	-393.53K	0.00	2.48M	-820.19K	0.00
Investing Cash Flow	-46.07K	-11.71K	-1.27M	-2.07M	-695.79K	-2.31M
Financing Cash Flow	59.92K	859.60K	2.35M	-74.58K	253.53K	0.00

Harvest Minerals 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%
KP2	44 Neutral	£150.10M	-152.50	-0.58%	―	―	―
HMI	39 Underperform	£1.13M	-0.38	-86.00%	―	―	―