Xtract Resources (XTR) AI Stock Analysis

• Market Cap: £13.09M
• Dividend Yield: N/A
• Average Volume (3M): 1.85M
• Price to Earnings (P/E): ―
• Beta (1Y): 0.25
• Revenue Growth: N/A
• EPS Growth: N/A
• Country: UK
• Employees: 27
• Sector: Basic Materials
• Sector Strength: 58
• Industry: Gold
• EPS (TTM): >-0.01
• Shares Outstanding: 1,189,708,500
• 10 Day Avg. Volume: 2,857,470
• 30 Day Avg. Volume: 1,846,530
• PEG Ratio: 0.02
• Price to Book (P/B): 0.25
• Price to Sales (P/S): 1134.21
• P/FCF Ratio: -10.99
• 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: 54 Neutral
• Price Target: 0.97p ▲(21.12% Upside)
• Action: Reiterated Date: 02/04/26
• Date: Action: Reiterated 02/04/26

The score is held back primarily by weak and highly volatile financial performance, especially the 2024 revenue collapse and cash burn. Technicals are a notable offset with improving momentum and price trading above key moving averages, while valuation is pressured by losses reflected in the negative P/E and lack of dividend support.

Positive Factors

Balance sheet strength

Minimal or no debt and a substantial equity base reduce financial risk and preserve strategic optionality. This balance-sheet flexibility supports funding exploration, pursuing farm-outs or acquisitions, and absorbing cyclical commodity swings without immediate solvency pressure.

Asset monetisation flexibility

A business model that can monetise assets through production, disposals, farm-outs or royalties provides multiple durable value-realisation pathways. This reduces reliance on continuous operating cashflows and allows capital-light growth via partner-funded development or staged consideration.

Demonstrated ability to produce strong profits historically

The company has shown it can deliver strong profitability in favorable conditions, indicating underlying asset quality and operational capability. That episodic profitability suggests meaningful upside if execution improves or commodity conditions become supportive again.

Negative Factors

2024 revenue collapse and cash burn

A collapse to near-zero revenue and deep 2024 losses materially increased funding and execution risk. Sustained cash burn erodes runway, forces potential asset sales or dilution, and constrains the company’s ability to advance projects over the coming months without external financing.

Unstable cash generation

Irregular operating and free cash flows undermine planning and raise reliance on external capital. Persistent negative cash generation increases probability of dilutive raises or distressed asset disposals, hindering the company’s ability to steadily fund exploration or development programs.

Inconsistent profitability and weak earnings quality

Chronic earnings volatility and repeated operating losses indicate weak earnings quality and limited predictability. This reduces investor confidence, makes long-term financing more costly, and raises the chance of interrupted project timelines or strategic pivots to shore up finances.

Xtract Resources Business Overview & Revenue Model

Company Description

Xtract Resources Plc, together with its subsidiaries, operates as a resource, development, and mining company. The company primarily explores for gold and copper deposits. It holds 100% interest in the Manica gold project located in the Odzi-Mutare-Manica Greenstone belt in Mozambique; the Bushranger copper-gold project that comprises four exploration licenses totaling 501km2 and located in eastern central New South Wales, Australia; the Eureka copper-gold project comprising 345 hectares located in west of the Zambian Copperbelt district; and the Kalengwa copper project located in the North-western province of Zambia. The company was formerly known as Xtract Energy PLC and changed its name to Xtract Resources Plc in June 2013. Xtract Resources Plc was incorporated in 2004 and is based in London, the United Kingdom.

How the Company Makes Money

Xtract Resources Financial Statement Overview

Summary

Overall fundamentals are weak due to the sharp 2024 deterioration (near-zero revenue, deep losses, and cash burn). The balance sheet is a relative strength with minimal debt and substantial equity, but earnings quality and cash-flow reliability remain poor and volatile.

Income Statement

Performance deteriorated sharply in 2024, with revenue collapsing to near-zero and profitability turning deeply negative (gross, operating, and net margins all materially below zero). While 2023 showed strong profitability, results have been highly volatile over the period, with recurring operating losses in most years and weak earnings consistency—raising concerns about the durability of the business model and near-term visibility.

Balance Sheet

The balance sheet is a relative strength: debt is minimal to none across the period, and equity remains substantial, which reduces financial risk and provides flexibility. The key weakness is returns—profitability has been inconsistent, and 2024 losses drove negative return on equity, suggesting the asset/equity base is not currently translating into sustainable earnings.

Cash Flow

Cash generation is unstable. 2024 produced negative operating cash flow and negative free cash flow, following a strong positive year in 2023 but significant outflows in 2021–2022. The swing back to cash burn alongside the revenue drop signals elevated execution and funding risk if negative cash flow persists, despite the low-debt profile.

Breakdown	TTM	Dec 2024	Dec 2023	Dec 2022	Jun 2022	Dec 2020
Income Statement
Total Revenue	4.00K	4.00K	1.48M	667.00K	692.00K	1.73M
Gross Profit	-16.00K	-32.00K	1.16M	424.00K	123.00K	719.00K
EBITDA	-1.14M	-1.19M	15.00K	-2.08M	-3.03M	-728.00K
Net Income	-1.87M	-862.00K	635.00K	-1.83M	-3.13M	-914.00K
Balance Sheet
Total Assets	17.58M	19.20M	21.93M	21.11M	23.01M	13.07M
Cash, Cash Equivalents and Short-Term Investments	3.32M	4.51M	630.00K	192.00K	5.39M	919.00K
Total Debt	0.00	0.00	50.00K	50.00K	0.00	0.00
Total Liabilities	873.00K	832.00K	2.04M	1.43M	2.35M	1.14M
Stockholders Equity	16.70M	18.37M	19.89M	19.68M	20.66M	11.93M
Cash Flow
Free Cash Flow	-1.34M	-413.00K	1.11M	-5.42M	-5.79M	-98.00K
Operating Cash Flow	-910.00K	-413.00K	1.21M	-2.53M	-767.00K	189.00K
Investing Cash Flow	316.00K	1.93M	-101.00K	-2.90M	-5.02M	-251.00K
Financing Cash Flow	0.00	-50.00K	0.00	311.00K	10.15M	636.00K

Xtract Resources 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%
XTR	54 Neutral	£13.09M	-1.51	-10.29%	―	―	―
GRL	52 Neutral	£10.28M	-0.56	-47.73%	―	93.10%	-150.00%
CGNR	51 Neutral	£12.12M	5.22	-2.46%	―	―	―
HAMA	46 Neutral	£5.20M	-1.95	-86.67%	―	―	―

Xtract Resources Corporate Events

Xtract Resources Secures 35% Stake in Silverking Copper Mining Joint Venture in Zambia

Xtract Resources has entered into a new joint venture with Oval Mining and Cooperlemon Consultancy to develop copper mining operations on the Silverking Small Scale Mining Licence in Zambia, acquiring a 35% stake in the project for US$1.5 million funded from existing resources. With plant, tailings dam and supporting infrastructure already largely in place and initial blasting about to begin, the partners expect to start producing copper concentrate within three months and reach steady-state production within six, while continuing exploration drilling and target testing on the licence to define the resource size and future mining strategy, positioning Xtract for near-term cash flow participation via quarterly distributions and strengthening its integrated exploration–production foothold in the region.

The most recent analyst rating on (GB:XTR) stock is a Hold with a £0.94 price target. To see the full list of analyst forecasts on Xtract Resources stock, see the GB:XTR Stock Forecast page.

Xtract Resources Chairman Increases Shareholding

Xtract Resources announced that its Executive Chairman, Colin Bird, has acquired 3,000,000 ordinary shares at a price of 0.575p per share, increasing his total shareholding to 19,745,149 shares, which represents 2.31% of the company’s issued share capital. This transaction signifies a vote of confidence from the executive leadership, potentially impacting investor sentiment positively and reinforcing the company’s market position.

Xtract Resources Secures £2 Million for Key Mining Projects

Xtract Resources Plc has successfully raised £2,000,000 through a new equity issue to fund its ongoing projects in Zambia and Morocco. The funds will be used to advance the Silverking copper project in Zambia, including the construction of a processing plant, and to continue exploration and redevelopment efforts at the Amghas antimony mine in Morocco. This strategic move aims to capitalize on favorable copper prices and generate cash flow to support future growth, enhancing the company’s position in the mining sector.