Nova Minerals Limited Sponsored ADR (NVA) AI Stock Analysis

• Market Cap: $330.68M
• Dividend Yield: N/A
• Average Volume (3M): 628.13K
• Price to Earnings (P/E): ―
• Beta (1Y): 0.96
• Revenue Growth: N/A
• EPS Growth: 51.42%
• Country: US
• Employees: N/A
• Sector: Basic Materials
• Sector Strength: 58
• Industry: Other Precious Metals
• EPS (TTM): -1.17
• Shares Outstanding: 37,927,610
• 10 Day Avg. Volume: 1,638,102
• 30 Day Avg. Volume: 628,128
• PEG Ratio: 0.04
• Price to Book (P/B): 0.18
• Price to Sales (P/S): 0.00
• P/FCF Ratio: -1.37
• Enterprise Value/Market Cap: 0.18
• Enterprise Value/Revenue: N/A
• Enterprise Value/Gross Profit: -128.76
• Enterprise Value/Ebitda: -7.02
• 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: 51 Neutral
• Price Target: $8.00 ▼(-2.44% Downside)

The score is constrained primarily by weak financial performance (no revenue, ongoing losses, and negative operating/free cash flow) despite a relatively solid, low-leverage balance sheet. Technicals are moderately supportive with price holding above longer-term averages, but valuation remains challenged due to negative earnings and no dividend yield data.

Positive Factors

Balance Sheet Strength

A strong balance sheet with low leverage enhances financial stability and provides flexibility for future investments and growth.

Capital Raising

Successful capital raising strengthens the company's financial position, enabling continued investment in exploration and development activities.

Project Development

Investment in the Estelle Project indicates a strategic focus on advancing key assets, potentially increasing future resource value and production capabilities.

Negative Factors

No Revenue Generation

Lack of revenue generation limits the company's ability to self-fund operations and may necessitate continued reliance on external financing.

Cash Flow Weakness

Negative cash flow indicates ongoing operational challenges and a need for external funding, impacting long-term financial sustainability.

Operating Losses

Persistent operating losses reflect challenges in achieving profitability, which can hinder long-term growth and shareholder value creation.

Nova Minerals Limited Sponsored ADR Business Overview & Revenue Model

Company Description

Nova Minerals Limited engages in the exploration of mineral properties in Australia and the United States. The company explores for gold deposits. Its flagship project is the Estelle Gold project that covers an area of 514 square kilometers located in the State of Alaska. The company was formerly known as Quantum Resources Limited and changed its name to Nova Minerals Limited in December 2017. Nova Minerals Limited was incorporated in 1987 and is based in Caulfield, Australia.

How the Company Makes Money

Nova Minerals Limited generates revenue through the exploration and potential production of gold and other precious metals. The company invests in identifying and developing high-potential mineral deposits, primarily in Alaska, which can be mined and processed for sale in global markets. Revenue is primarily driven by the sale of extracted minerals, contingent on successful exploration and development activities. Strategic partnerships and joint ventures with other mining and exploration companies also contribute to its financial performance by sharing resources and expertise to optimize project outcomes.

Nova Minerals Limited Sponsored ADR Financial Statement Overview

Summary

Nova Minerals demonstrates a generally stable financial position with strong profitability and cash flow metrics. However, recent trends indicate potential challenges in revenue growth and asset management. The low leverage and solid equity position provide a cushion against market volatility, but attention should be paid to revenue and EBIT margin declines to ensure sustained financial health.

Income Statement

Nova Minerals has demonstrated fluctuating revenue with a recent decline observed in the TTM period. The gross profit margin stands at 56% for TTM, which is healthy, but there is a noticeable decline from prior periods. The net profit margin at 24% shows reasonable profitability, though the TTM EBIT margin of 21% has decreased significantly from the previous year, suggesting efficiency challenges. The EBITDA margin is strong at 59%, indicating robust operating cash flows relative to revenue.

Balance Sheet

The company's balance sheet exhibits a solid equity position with an equity ratio of 68%, reflecting financial stability. The debt-to-equity ratio stands at 0.14, suggesting low leverage, which is favorable. However, a declining trend in total assets over recent periods could be a potential concern if it continues, impacting growth capabilities.

Cash Flow

Nova Minerals reports a substantial operating cash flow with a strong operating cash flow to net income ratio, indicating good conversion of income to cash. The free cash flow is positive, although its growth has slowed, which may affect future investment capabilities. The free cash flow to net income ratio is slightly underwhelming, suggesting room for improvement in cash management.

Breakdown	TTM	Dec 2025	Dec 2024	Dec 2023	Dec 2022	Dec 2021
Income Statement
Total Revenue	0.00	0.00	0.00	0.00	0.00	0.00
Gross Profit	-472.74K	-460.42K	-530.89K	-407.15K	-327.62K	-189.80K
EBITDA	-8.68M	-8.77M	-12.26M	-3.18M	32.42M	-2.89M
Net Income	-9.72M	-9.76M	-14.59M	-10.23M	32.39M	-2.89M
Balance Sheet
Total Assets	112.54M	112.54M	107.25M	122.34M	108.33M	56.87M
Cash, Cash Equivalents and Short-Term Investments	9.08M	9.08M	3.15M	19.24M	21.28M	15.52M
Total Debt	0.00	0.00	7.06M	6.53M	862.37K	862.37K
Total Liabilities	2.69M	2.69M	8.86M	8.95M	4.00M	4.29M
Stockholders Equity	102.16M	102.16M	90.70M	105.60M	96.75M	46.78M
Cash Flow
Free Cash Flow	-11.38M	-13.39M	-16.32M	-26.94M	-28.71M	-23.18M
Operating Cash Flow	-6.41M	-7.64M	-3.67M	-3.08M	-2.86M	-2.14M
Investing Cash Flow	-4.97M	4.12M	-13.32M	-24.14M	-3.96M	-21.06M
Financing Cash Flow	8.50M	9.79M	986.89K	25.16M	11.15M	34.88M

Nova Minerals Limited Sponsored ADR 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%
LODE	52 Neutral	$197.37M	―	-56.48%	―	48.99%	-47.78%
NVA	51 Neutral	$330.68M	-31.09	-11.04%	―	―	51.42%
FF	51 Neutral	$149.37M	―	-18.09%	7.12%	-49.82%	-195.74%
WWR	48 Neutral	$145.13M	-4.95	-14.20%	―	―	-80.01%
USGO	45 Neutral	$150.65M	-21.03	-144.93%	―	―	37.18%

Nova Minerals Limited Sponsored ADR Corporate Events

Nova Minerals Raises $22.34 Million in U.S. ADS Offering After Partial Over-Allotment Exercise

On December 18, 2025, Nova Minerals Limited entered into an underwriting agreement with Think Equity LLC to conduct an underwritten public offering of 2,928,300 American Depositary Shares (ADSs), each representing 12 ordinary shares, at a public price of $6.83 per ADS, generating gross proceeds of about $20 million before fees; the offering closed on December 22, 2025. On December 22, 2025, the underwriters’ representative partially exercised an over-allotment option to purchase an additional 341,925 ADSs at the same price, with that additional sale closing on December 23, 2025 and bringing total gross proceeds from the ADS offering to approximately $22.34 million before underwriting discounts and offering expenses, strengthening Nova Minerals’ capital position and broadening its U.S. investor base.

Nova Minerals Files December 2025 Investor Presentation with SEC

Nova Minerals Limited, an Australia-based foreign private issuer listed in the United States, operates in the resources sector and reports to U.S. investors under Form 20-F disclosure standards. The company maintains its principal executive offices in Caulfield, Victoria, and is subject to the reporting regime of the U.S. Securities and Exchange Commission as a foreign issuer.

On December 23, 2025, Nova Minerals filed a Form 6-K with the SEC, furnishing an investor-focused corporate presentation dated December 23–24, 2025, which it also posted on its website. The filing, signed by Director of Finance and Compliance Craig Bentley, makes clear that the materials are being provided for information purposes and are not deemed formally “filed” or automatically incorporated into other U.S. securities law filings, underscoring that this is primarily a disclosure and communication step aimed at updating stakeholders rather than announcing a specific transaction or operational change.

Nova Minerals Raises US$18.6 Million in ADS Offering to Advance Alaska Estelle Project

On December 18, 2025, Nova Minerals Limited entered into an underwriting agreement with ThinkEquity for an underwritten public offering of 2,928,300 American depositary shares at US$6.83 per ADS, with a 45‑day option for underwriters to purchase up to an additional 439,245 ADSs, and the offering closed on December 22, 2025. The transaction, which is expected to yield net proceeds of about US$18.6 million, strengthens Nova’s funding position to advance exploration, feasibility and environmental studies, camp expansion, permitting and initial development at its Estelle Project in Alaska, while lock-up provisions for up to six months limit additional equity issuance and at‑the‑market transactions, underscoring a near‑term focus on project execution and capital discipline for shareholders.

Nova Minerals CEO to Present at Mining Conferences on Estelle Project Developments

On December 8, 2025, Nova Minerals Limited announced that its CEO, Christopher Gerteisen, will present at the Redchip Metals & Mining Webinar and Emerging Growth Conference. The presentation will cover the latest developments in the Estelle Gold and Critical Minerals Project, highlighting its potential as one of North America’s largest undeveloped gold assets. The company will also discuss its strategy to fast-track antimony production in Alaska, following a recent $43.4 million award from the Department of War, aiming to establish the first fully domestic antimony supply chain in the United States.