COMET RIDGE LIMITED (COI)
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COI - COMET RIDGE LIMITED

FNArena Sector : NatGas

Year End: June

GICS Industry Group : Energy

Debt/EBITDA: -1.8

Index: ALL-ORDS

LAST PRICE	CHANGE +/-	CHANGE %	VOLUME
$0.135 25 Mar 2025	0.010 OPEN $0.13	8.00% HIGH $0.14	936,236 LOW $0.13

TARGET

$0.22

63.0% upside

OTHER COMPANIES IN THE SAME SECTOR
AEL . APA . BLU . CRD . CTP . GHY . GLL . KAR . ORG . STO . STX . TBN . WDS .

FNARENA'S MARKET CONSENSUS FORECASTS

Title	FY23 Actual	FY24 Actual	FY25 Forecast	FY26 Forecast
EPS (cps)	xxx	- 0.7	- 0.6	xxx
DPS (cps)	xxx	0.0	0.0	xxx
EPS Growth	xxx	N/A	N/A	xxx
DPS Growth	xxx	N/A	N/A	xxx
PE Ratio	xxx	N/A	N/A	xxx
Dividend Yield	xxx	N/A	0.0%	xxx
Div Pay Ratio(%)	xxx	N/A	N/A	xxx

Dividend yield today if purchased 3 years ago: 0.00%

DIVIDEND YIELD CALCULATOR

Past performance is no guarantee for the future. Investors should take into account that heavy swings in share price or exceptional circumstances (a la 2009) can have a significant impact on short term calculations and averages

HISTORICAL DATA ARE ALL IN AUD

Copyright © 2025 FactSet UK Limited. All rights reserved

Title	2019	2020	2021	2022	2023	2024
EPS Basic	xxx	xxx	xxx	xxx	xxx	-0.7
DPS All	xxx	xxx	xxx	xxx	xxx	0.0
Sales/Revenue	xxx	xxx	xxx	xxx	xxx	0.0 M
Book Value Per Share	xxx	xxx	xxx	xxx	xxx	6.5
Net Operating Cash Flow	xxx	xxx	xxx	xxx	xxx	-4.2 M
Net Profit Margin	xxx	xxx	xxx	xxx	xxx	-

EPS Basic

Negative
Growth
Slowing

DPS All

Negative
Growth
Slowing

Sales/Revenue

Negative
Growth
Slowing

Book Value Per Share

Negative
Growth
Slowing

Net Operating Cash Flow

Negative
Growth
Slowing

Net Profit Margin

Title	2019	2020	2021	2022	2023	2024
Return on Capital Employed	xxx	xxx	xxx	xxx	xxx	-10.47 %
Return on Invested Capital	xxx	xxx	xxx	xxx	xxx	-9.47 %
Return on Assets	xxx	xxx	xxx	xxx	xxx	-6.19 %
Return on Equity	xxx	xxx	xxx	xxx	xxx	-10.47 %
Return on Total Capital	xxx	xxx	xxx	xxx	xxx	-5.71 %
Free Cash Flow ex dividends	xxx	xxx	xxx	xxx	xxx	-4.2 M

Return on Capital Employed

Negative
Growth
Slowing

Return on Invested Capital

Negative
Growth
Slowing

Return on Assets

Negative
Growth
Slowing

Return on Equity

Negative
Growth
Slowing

Return on Total Capital

Negative
Growth
Slowing

Free Cash Flow ex dividends

Negative
Growth
Slowing

Title	2019	2020	2021	2022	2023	2024
Short-Term Debt	xxx	xxx	xxx	xxx	xxx	0 M
Long Term Debt	xxx	xxx	xxx	xxx	xxx	7 M
Total Debt	xxx	xxx	xxx	xxx	xxx	7 M
Goodwill - Gross	xxx	xxx	xxx	xxx	xxx	-
Cash & Equivalents - Generic	xxx	xxx	xxx	xxx	xxx	17 M
Price To Book Value	xxx	xxx	xxx	xxx	xxx	3.06

Short-Term Debt

Negative
Growth
Slowing

Long Term Debt

Negative
Growth
Slowing

Total Debt

Negative
Growth
Slowing

Goodwill - Gross

Cash & Equivalents - Generic

Negative
Growth
Slowing

Price To Book Value

Negative
Growth
Slowing

Title	2019	2020	2021	2022	2023	2024
Capex	xxx	xxx	xxx	xxx	xxx	3.6 M
Capex % of Sales	xxx	xxx	xxx	xxx	xxx	-
Cost of Goods Sold	xxx	xxx	xxx	xxx	xxx	0 M
Selling, General & Admin. Exp & Other	xxx	xxx	xxx	xxx	xxx	4 M
Research & Development	xxx	xxx	xxx	xxx	xxx	-
Investments - Total	xxx	xxx	xxx	xxx	xxx	0 M

Capex

Negative
Growth
Slowing

Capex % of Sales

Cost of Goods Sold

Negative
Growth
Slowing

Selling, General & Admin. Exp & Other

Negative
Growth
Slowing

Research & Development

Investments - Total

Negative
Growth
Slowing

Negative

Growth

Slowing

EXPERT VIEWS
EXTRA COVERAGE

EXPERT VIEWS

Display All Commentary

Sentiment Indicator

1.0

No. Of Recommendations

BROKER	DATE	RATING	RECOMMENDATION	TARGET PRICE	% TO REACH TARGET	COMMENTARY
Morgans	xx/xx/xxxx	1	xxxxxxxxxxx xxx	$xx.xx	xx.xx%	Broker commentary and detailed analysis is available for Full Members Only. Login above or Get a Free Trial
Bell Potter	06/02/2025	1	Speculative Buy	$0.21	55.56%	Bell Potter observes Comet Ridge and Santos have advanced the Mahalo joint venture into the front-end engineering design (FEED) phase, targeting a final investment decision (FID) by early 2026. The recent quarterly activities and cash flow report revealed a cash balance of $19.3m, up from $11.4m in the prior quarter. Funds received a $12m boost from an equity placement and $4m in grant funding from the Queensland government, applied to Mahalo East pilot drilling, explains the broker. The broker's target price falls to 21c from 26c after incorporating the equity placement. Speculative Buy rating unchanged. FORECAST Bell Potter forecasts a full year FY25 dividend of 0.00 cents and EPS of minus -0.60 cents. Bell Potter forecasts a full year FY26 dividend of 0.00 cents and EPS of minus -1.80 cents.

BROKER

DATE

RATING

RECOMMENDATION

TARGET PRICE

% TO REACH TARGET

COMMENTARY

Morgans

xx/xx/xxxx

xxxxxxxxxxx xxx

$xx.xx

xx.xx%

Broker commentary and detailed analysis is available for Full Members Only.
Login above or Get a Free Trial

Bell Potter

06/02/2025

Speculative Buy

$0.21

55.56%

Bell Potter observes Comet Ridge and Santos have advanced the Mahalo joint venture into the front-end engineering design (FEED) phase, targeting a final investment decision (FID) by early 2026.

The recent quarterly activities and cash flow report revealed a cash balance of $19.3m, up from $11.4m in the prior quarter.

Funds received a $12m boost from an equity placement and $4m in grant funding from the Queensland government, applied to Mahalo East pilot drilling, explains the broker.

The broker's target price falls to 21c from 26c after incorporating the equity placement. Speculative Buy rating unchanged.

FORECAST
Bell Potter forecasts a full year FY25 dividend of 0.00 cents and EPS of minus -0.60 cents.
Bell Potter forecasts a full year FY26 dividend of 0.00 cents and EPS of minus -1.80 cents.

Access Stockbroker Research History >

EXTRA COVERAGE

Display All Commentary

No. Of Recommendations

Please note: unlike Broker Call Report, BC Extra is not updated daily. The info you see might not be the latest. FNArena does its best to update ASAP.

BROKER	DATE	RATING	RECOMMENDATION	TARGET PRICE	% TO REACH TARGET	COMMENTARY
Canaccord Genuity	xx/xx/xxxx	3	xxxx	$xx.xx	xx.xx%	Broker commentary and detailed analysis is available for Full Members Only. Login above or Get a Free Trial
Petra Capital	23/09/2024	1	Buy	$0.29	114.81%	Management has provided an update for the 57%-owned Mahalo joint venture, as well for Mahalo North and Mahalo East which are fully owned by Comet Ridge. Petra Capital has deferred its first production forecast at the joint venture by a year and risk-weighted development by -10% in the analyst's valuation to reflect uncertainty after progress by key operator Santos ((STO)) has slowed. Drilling at Mahalo East begins in October, while the broker awaits final approvals at Mahalo North where pre-front-end engineering design (FEED) upstream activities continue. The Buy rating is maintained, and the target reduced to 29c from 35c. FORECAST Petra Capital forecasts a full year FY25 dividend of 0.00 cents and EPS of minus -0.40 cents.

BROKER

DATE

RATING

RECOMMENDATION

TARGET PRICE

% TO REACH TARGET

COMMENTARY

Canaccord Genuity

xx/xx/xxxx

xxxx

$xx.xx

xx.xx%

Broker commentary and detailed analysis is available for Full Members Only.
Login above or Get a Free Trial

Petra Capital

23/09/2024

Buy

$0.29

114.81%

Management has provided an update for the 57%-owned Mahalo joint venture, as well for Mahalo North and Mahalo East which are fully owned by Comet Ridge.

Petra Capital has deferred its first production forecast at the joint venture by a year and risk-weighted development by -10% in the analyst's valuation to reflect uncertainty after progress by key operator Santos ((STO)) has slowed.

Drilling at Mahalo East begins in October, while the broker awaits final approvals at Mahalo North where pre-front-end engineering design (FEED) upstream activities continue.

The Buy rating is maintained, and the target reduced to 29c from 35c.

FORECAST
Petra Capital forecasts a full year FY25 dividend of 0.00 cents and EPS of minus -0.40 cents.

Access Extra Coverage Research History >

COI STOCK CHART

FNArena News on COI

1	Australian Broker Call Extra Edition – Nov 12, 2024 Nov 12 2024 - Daily Market Reports

2	FNArena Corporate Results Monitor – 01-10-2024 Oct 01 2024 - Australia

3	Australian Broker Call Extra Edition – Sep 23, 2024 Sep 23 2024 - Daily Market Reports

4	Australian Broker Call Extra Edition – Sep 19, 2024 Sep 19 2024 - Daily Market Reports

5	Australian Broker Call Extra Edition – Jul 17, 2024 Jul 17 2024 - Daily Market Reports

Latest NatGas News

1	All Eyes On Woodside’s Lousiana LNG Sell Down Feb 27 2025 - Commodities

2	Is Santos A Re-Rating In Waiting? Jan 29 2025 - Commodities

3	Better Times Ahead For Woodside Shares Jan 14 2025 - Technicals

4	Santos Shifts From Growth To Shareholder Return Nov 25 2024 - Australia

5	Beach Energy: For True Believers Only? Oct 22 2024 - Australia

6	Woodside US LNG Purchase Stirs Heated Debate Aug 01 2024 - Commodities

7	Karoon Strikes The Right Balance Jul 30 2024 - Commodities

8	Cooper Energy Ready For East Coast Gas Deficit Jun 13 2024 - Small Caps

9	Life’s A Beach Under New CEO Feb 14 2024 - Australia

10	Woodside Energy: Head And Shoulders Jan 31 2024 - Technicals

Dividend Yield Today On Last Actual Payout :	0.00
Estimated Dividend Growth (Average Of Past Three Years)	%
Amount Invested	$
Tell Me The Dividend After This Many Years

	Yield	Yield on investment
This Year
Year 1
Year 2
Year 3
Year 4
Year

1	Australian Broker Call Extra Edition – Nov 12, 2024 Nov 12 2024 - Daily Market Reports

2	FNArena Corporate Results Monitor – 01-10-2024 Oct 01 2024 - Australia

3	Australian Broker Call Extra Edition – Sep 23, 2024 Sep 23 2024 - Daily Market Reports

4	Australian Broker Call Extra Edition – Sep 19, 2024 Sep 19 2024 - Daily Market Reports

5	Australian Broker Call Extra Edition – Jul 17, 2024 Jul 17 2024 - Daily Market Reports

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COMET RIDGE LIMITED (COI)
Share Price Analysis and Chart