Alkane Resources Ltd ALK

MaterialsMetals & MiningAustralia

Last close 1.57 CAD on Nov 2, 2026, +32.3% year to date

Quant rating

Quant rating B Rank 52 of 154 in Materials

Growth C 68 of 154
Valuation A 9 of 154
Quality C 80 of 154
Revisions C 70 of 154
Momentum B 27 of 154

Wall Street consensus Buy (2.00)Average target 2.37 CAD +51.1%

Historical valuation

Multiples use consensus estimates for the next twelve months. The dashed line is the 5-year average.

Key data

Market cap: 2.1B
Enterprise value: 1.7B
52-week range: 0.80 – 2.03
3-year range: 0.69 – 2.03
Dividend yield: 1.92%
Beta (5 years): –
Shares outstanding: 1,366M
Next earnings: Feb 11, 2027

About the company

Alkane Resources Limited is an Australia-based gold and antimony producer with a portfolio of three operating mines across Australia and Sweden. The Company’s projects include Tomingley, Costerfield, and Bjorkdal. Tomingley is an open pit and underground gold mine southwest of Dubbo in Central West New South Wales that covers an area of approximately 440 square km, stretching 60km north south. Its operations include Tomingley Gold Operations, Tomingley Gold Extension Project, and Peak Hill Gold Mine. Costerfield is a gold and antimony underground mining operation northeast of Heathcote in Central Victoria. It covers an area of approximately 10km northeast of Heathcote in central Victoria and 50km east of Bendigo. The Bjorkdal is an underground gold mine northwest of Skelleftea in Sweden that covers an area of approximately 750km north of Stockholm. It also owns the Northern Molong Porphyry Project (NMPP), which includes Boda & Kaiser.

Growth and profitability fiscal year ends June 30

Growth and profitability by fiscal year
	2026	2025	2024	2023	2022	5Y avg
Revenue (mil)	919	235	158	168	147	–
Revenue growth	291.3%	48.9%	−6.2%	14.7%	23.4%	50.6%
EPS (basic, normalized)	0.17	0.05	0.03	0.06	0.03	–
EPS growth	246.3%	82.9%	−56.6%	88.7%	–	–
Gross margin	36.9%	21.6%	20.0%	37.5%	38.1%	30.8%
Net margin	24.4%	12.6%	10.2%	22.3%	42.6%	22.4%
ROE	31.3%	10.1%	5.8%	14.9%	30.5%	18.5%

Balance sheet, last quarter
Cash & short-term investments (mil)	–
Current ratio	–
Long-term debt (mil)	–
Net debt (mil)	–
Total equity (mil)	–
Net debt / equity	–
Net debt / EBITDA	–

Estimates and valuation

Consensus estimates and implied multiples
	Sales (mil)			EBITDA (mil)			EPS
Fiscal year	Mean est.	Growth	EV/Sales	Mean est.	Growth	EV/EBITDA	Mean est.	Growth	P/E
2026 actual	919	+291.3%	1.8x	474	+403.5%	3.5x	0.17	+246.3%	9.4x
2027	941	+2.4%	1.8x	492	+3.9%	3.4x	0.19	+12.6%	8.3x
2028	1,063	+13.0%	1.6x	632	+28.4%	2.7x	0.25	+34.4%	6.2x
2029	1,067	+0.4%	1.6x	619	−2.0%	2.7x	0.26	+0.6%	6.1x

Estimate revisions

Change in consensus estimates over 1, 3 and 6 months
	Sales				EPS
Fiscal year	Estimate (mil)	1M	3M	6M	Estimate	1M	3M	6M
2027	941	−6.5%	−5.1%	−5.3%	0.19	−11.0%	−11.5%	−16.7%
2028	1,063	+0.9%	+5.5%	+11.7%	0.25	+4.2%	+6.2%	+12.3%
2029	1,067	+5.6%	–	+48.0%	0.26	+15.9%	–	+116.0%

Earnings surprises

Reported results versus consensus, last 10 fiscal quarters
Quarter ended	FQ-9	FQ-8	FQ-7	FQ-6	FQ-5	FQ-4	Sep 2025	FQ-2	FQ-1	Jun 2026
Sales reported (mil)	–	–	–	–	–	–	147	257	–	257
Sales mean (mil)	–	–	–	–	–	142	168	–	274	260
Surprise	–	–	–	–	–	–	−12.4%	–	–	−0.9%
EPS reported	–	–	–	–	–	–	0.00	–	–	0.05
EPS mean	–	–	–	–	–	0.04	0.00	0.05	0.07	0.05
Surprise	–	–	–	–	–	–	–	–	–	−7.8%

Peer comparison Metals & Mining

Peers in the same industry group, by market capitalization
Company	Market cap	Net debt/EBITDA	Net margin	P/B	FY1 P/E	FY2 P/E	FY1 EV/EBITDA	FY2 EV/EBITDA
ALK Alkane Resources Ltd	2.1B	–	24.4%	1.91x	8.3x	6.2x	3.4x	2.7x
SSMR Sunshine Silver Mining & Refining Co	2.2B	–	−6,930.8%	4.94x	−29.2x	−37.7x	−26.1x	−33.4x
SXGC Southern Cross Gold Consolidated Ltd	2.2B	–	–	8.40x	−273.7x	−205.3x	−426.5x	−426.5x
HYMC Hycroft Mining Holding Corp	2.1B	–	–	6.41x	−13.9x	−22.4x	−11.0x	−13.6x
NEXA Nexa Resources SA	2.1B	2.27x	4.4%	1.33x	3.9x	3.3x	2.8x	2.4x
BVGLY Bellevue Gold Limited	2.0B	–	1.2%	2.39x	174.2x	89.3x	5.0x	3.5x
Mean		2.27x	−1,725.2%	4.23x	−21.7x	−27.8x	−75.4x	−77.5x
Median		2.27x	2.8%	3.66x	−5.0x	−9.5x	−4.1x	−5.6x

Technical analysis

1M−15.1%
3M+23.0%
1Y+76.3%
3Y+98.4%

Financial statements in millions of CAD

Income statement in millions of CAD, fiscal years

Income statement, Alkane Resources Ltd, fiscal years, most recent first
	2026	2025	2024	2023	2022	2021
Total revenue	919	235	158	168	147	119
Cost of revenue	580	184	126	105	90.8	61.7
Gross profit	340	50.7	31.5	63.0	55.8	57.1
Selling, general & administrative expenses	25.4	6.3	9.3	10.1	8.7	9.8
Research & development	0	0.1	0	0.4	0	1.2
Depreciation/amortization	0.6	0.6	0.6	0.4	0.4	0.2
Interest expense (income), operating	−1.3	3.0	−0.9	−1.2	−41.6	0.4
Unusual expense (income)	2.3	−0.5	−0.1	0	−0.3	0.9
Other operating expenses	−0.2	−0.1	0.4	−0.1	−0.6	0
Operating income	313	41.3	22.3	53.5	89.2	44.7
Net interest income (expense)	–	–	–	–	–	–
Gain (loss) on sale of assets	–	–	–	–	–	–
Other non-operating income (expense)	0	0	0	0	0	0
Net income before taxes	313	41.3	22.3	53.5	89.2	44.7
Provision for taxes	88.2	11.7	6.2	16.0	26.8	13.5
Minority interest	–	–	–	–	–	–
Equity in affiliates	–	–	–	–	–	–
U.S. GAAP adjustment	–	–	–	–	–	–
Net income before extraordinary items	225	29.6	16.1	37.5	62.4	31.2
Extraordinary items	–	–	–	–	0	20.6
Net income	225	29.6	16.1	37.5	62.4	51.8
EBIT, normalized	314	43.8	21.3	52.2	47.3	45.9
EBITDA, normalized	469	90.0	54.2	84.1	78.5	65.7
Basic EPS, normalized	0.17	0.05	0.03	0.06	0.03	–

Balance sheet in millions of CAD, fiscal years

Balance sheet, Alkane Resources Ltd, fiscal years, most recent first
	2026	2025	2024	2023	2022	2021
Assets
Cash & short-term investments	424	43.1	41.5	70.8	69.2	17.6
Receivables	38.5	1.8	1.5	1.9	1.1	0.9
Total inventory	88.9	28.3	20.3	19.3	15.9	10.8
Prepaid expenses	4.4	2.1	2.0	2.7	1.0	0.9
Other current assets	0.4	0	0.4	0	0	0.5
Total current assets	556	75.2	65.7	94.7	87.2	30.7
Property, plant & equipment	885	369	340	240	183	146
Goodwill	–	–	–	–	–	–
Intangibles	–	–	–	–	–	–
Long-term investments	15.1	7.2	0.3	16.5	33.9	32.0
Note receivable	0.1	–	–	–	–	–
Other long-term assets	32.7	13.4	17.5	12.1	12.0	10.7
Total assets	1,489	465	424	364	316	220
Liabilities
Accounts payable	59.9	6.3	4.3	4.9	1.0	2.6
Payable/accrued	–	–	–	–	–	–
Accrued expenses	15.9	7.2	6.3	4.8	4.0	3.4
Short-term debt	0	0	0	0	0	0
Current portion of long-term debt	9.6	29.8	14.7	6.5	5.3	3.1
Other current liabilities	123	26.6	22.5	22.4	12.3	7.9
Total current liabilities	209	69.9	47.7	38.6	22.5	16.9
Long-term debt	5.2	23.3	30.0	5.4	8.1	5.5
Minority interest	–	–	–	–	–	–
Other liabilities	180	62.3	63.9	55.0	46.5	19.1
Total liabilities	394	156	142	99.0	77.1	41.5
Shareholders' equity
Preferred stock	–	–	–	–	–	–
Common stock	769	201	204	196	194	203
Additional paid-in capital	–	–	–	–	–	–
Retained earnings (accumulated deficit)	353	113	79.8	68.6	45.0	−24.5
Treasury stock	–	–	–	–	–	–
Other equity	−27.1	−4.4	−1.3	0	0	−0.1
Total equity	1,096	310	282	265	239	178
Total liabilities & shareholders' equity	1,489	465	424	364	316	220

Cash flow statement in millions of CAD, fiscal years

Cash flow statement, Alkane Resources Ltd, fiscal years, most recent first
	2026	2025	2024	2023	2022	2021
Operating activities
Net income	–	–	–	–	–	–
Depreciation, depletion & amortization	–	–	–	–	–	–
Deferred taxes	–	–	–	–	–	–
Non-cash items	–	–	–	–	–	–
Changes in working capital	−47.0	−5.1	−9.0	−3.9	−3.2	−20.4
Cash from operations	452	64.4	48.2	84.3	76.8	48.9
Investing activities
Capital expenditures	−171	−67.7	−124	−81.0	−74.2	−80.0
Other investing cash flows	157	−2.7	10.9	0.3	44.7	−15.4
Cash from investing	−13.3	−70.4	−113	−80.7	−29.5	−95.5
Financing activities
Financing cash flow items	−0.4	0	0	0	0	0
Cash dividends paid	–	–	–	–	–	–
Issuance (retirement) of debt, net	–	–	–	–	–	–
Other financing cash flows	−53.5	8.3	32.7	−1.5	5.0	2.1
Cash from financing	−53.9	8.3	32.7	−1.5	5.0	2.1
Foreign exchange effects	−8.0	–	–	–	–	–
Net change in cash	377	2.3	−31.7	2.1	52.3	−44.5
Free cash flow	282	−3.2	−75.3	3.3	2.6	−31.2

Disclaimer

The financial data presented in this report is delayed and obtained from sources QDD Research believes to be reliable, including stock exchanges, SEDAR, and EDGAR. However, no representation or warranty is made as to the accuracy, completeness, or timeliness of the information. QDD Research accepts no liability for any errors, omissions, or financial losses arising from the use of this data.

This report is generated using a fully systematic and quantitative approach. All factor scores and the overall quant rating (ranging from D to A+) are derived from algorithmic models and are based solely on objective financial metrics. These scores are intended for informational purposes only and should not be interpreted as investment advice or a recommendation to buy, sell, or hold any securities.

QDD Research is not a registered investment advisor or broker-dealer and does not provide personalized financial advice. The content is not tailored to the specific investment goals, financial situation, or risk profile of any individual investor. We strongly encourage readers to consult with a licensed broker or investment advisor before making any investment decisions based on the information contained in this report.

Live quote provided by TradingView. Report data updated Nov 2, 2026 after market close.