Xtract Resources (XTR) AI Stock Analysis

• Market Cap: £10.11M
• Dividend Yield: N/A
• Average Volume (3M): 1.85M
• Price to Earnings (P/E): ―
• Beta (1Y): -0.11
• 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: 48 Neutral
• Price Target: 0.94p ▲(17.62% Upside)

The score is held down primarily by weak and volatile financial performance (near-zero 2024 revenue, large losses, and renewed cash burn), with valuation also constrained by losses (negative P/E). Technicals are a partial offset due to strong momentum above key moving averages, though overbought signals increase short-term risk.

Positive Factors

Balance sheet strength

A minimal-debt, substantial-equity balance sheet provides durable financial flexibility. It reduces refinancing and solvency risk through commodity cycles, supports continued investment or farm-outs, and gives management optionality to fund development or pursue opportunistic asset transactions without immediate external pressure.

Asset monetisation flexibility

A diversified monetisation toolkit (production, sales, farm-outs, royalties) is a structural strength. It lets Xtract realise value without sole reliance on bringing assets to operated production, enabling staged returns, joint-ventures to de-risk capex, and multiple exit pathways that persist across cycles.

Lean operating footprint

A small headcount implies a lean fixed-cost base, improving runway when revenues are weak. This structural nimbleness supports lower overhead during exploration phases, enables capital to be directed to project spend or farm-outs, and reduces persistent cash burn compared with larger operators.

Negative Factors

Revenue collapse in 2024

A near-zero revenue year undermines the firm's ability to demonstrate sustainable cash generation from assets. Over the medium term this weakens bargaining power with partners, increases reliance on external funding to advance projects, and reduces visibility on when assets will convert into reliable income.

Unstable cash generation

Recurring swings into operating and free cash flow burn create persistent funding risk. Over several months this can force dilutive equity raises or asset disposals, constrain exploration/development programmes, and delay milestones needed to monetise projects, harming long-term project economics.

Inconsistent profitability and execution

Repeated operating losses and volatile profitability signal weak conversion of the asset base into returns. Structurally this reduces investor confidence, complicates JV or offtake negotiations, and increases the chance that management must prioritise short-term financing or disposals over disciplined, value-accretive development.

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 financial quality is weak: 2024 saw revenue collapse to near-zero with deeply negative profitability, and cash flow swung back to operating/FCF burn. The balance sheet is a relative strength (minimal debt and substantial equity), but earnings and cash-flow reliability are poor.

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	Dec 2021	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%
GRL	52 Neutral	£10.92M	-2.30	-47.73%	―	93.10%	-150.00%
CGNR	51 Neutral	£11.93M	-15.50	-2.46%	―	―	―
XTR	48 Neutral	£10.11M	-3.86	-10.29%	―	―	―
HAMA	46 Neutral	£5.20M	-1.07	-86.67%	―	―	―

Xtract Resources Corporate Events

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.