Who are EQ Resources's main competitors?

Named competitors: Almonty Industries (AII.TO), Masan High-Tech Materials (private or unlisted). The cockpit's measured peer set (industry) also includes New Pacific Metals (NUAG.TO), Yunding Technology (000409.SZ), McEwen (MUX.TO), RIO2 (RIO.TO), Gogold Resources (GGD.TO), Hemlo Mining (HMMC.TO).

Is EQ Resources expensive compared with its peers?

On forward p/e it trades at 4.3× against a peer median of 14.0×, cheapest of 8 in its peer set.

How has EQ Resources stock performed?

Over six months to 6 Nov 2026 the shares returned +5.7% against -9.3% for the median peer; over one year +636.8%.

← CockpitCompetitor Analysis › EQR.AX EQ Resources LimitedOpen in the cockpit ↗

EQ Resources LimitedEQR.AXCompetitor analysis, valuation and peers

Australia · AUD·Materials›Precious Metals

Australian miner producing tungsten concentrate, operating mines in Australia (Mt Carbine) and Spain (Barruecopardo).

≈ A small-cap tungsten minerMomentum weak 39

Competitor Analysis ▸ Charts Open in the cockpit

Mkt cap

$1.01B

US dollars, full cap

Free float

84%

of shares outstanding

$/day

$6.49M

20-day average traded

Fwd P/E

4.3×

forward earnings

ROIC−WACC

+1.5 pp

WACC 6.5%

Hurdle

n/a

no reverse DCF

Next earnings

126 days

12 Mar 2027

Close · AUDA$0.28

1D-9.7%

1W-3.5%

1M-16.4%

3M-8.2%

6M+5.7%

YTD+237.3%

1Y+636.8%

ATR %9.4%

52w lowhigh48.6% off high

What EQ Resources does

Australian miner producing tungsten concentrate, operating mines in Australia (Mt Carbine) and Spain (Barruecopardo).

In one line: A small-cap tungsten miner.

Products and services

Mt Carbine tungsten mine (Australia)
Barruecopardo tungsten mine (Spain)

Customers

Tungsten carbide/steel alloy manufacturers

Where it sits in the supply chain

Critical minerals mining
Tungsten mining
Concentrate production

What could go right

Tungsten price strength (critical minerals demand)
Production ramp-up at both mines

What could go wrong

Tungsten price volatility
China supply dominance pressuring prices

Moat: none. Commodity tungsten producer without scale or cost leadership versus larger global miners.

Headquarters: Brisbane, Australia · Founded: 2007 · Employees: 283

Named competitors

Almonty Industries AII.TO
Masan High-Tech Materials private or unlisted

EQ Resources at a glance

Size EQ Resources (EQR.AX) is an Australia Materials company (Precious Metals) with a market value of $1.01B, the 178th largest of 316 Australia companies the cockpit tracks. Shares closed at A$0.28 on 6 Nov 2026.

Performance Over six months the shares gained 5.7%, against -9.3% for the median peer and +4.1% for the Australia market (cap-weighted) — 4th highest of 19 in its peer set.

Growth Revenue grew 150.5% over the last twelve months (peer median +49.9%); the operating margin is 11.3% (peer median 1.7%).

Valuation It trades at 4.3× forward earnings against a peer median of 14.0× (cheapest of 8).

Capital Return on invested capital runs 1.5 points above its cost of capital (6.5% WACC).

Next results Next results expected around 12 Mar 2027 (exchange calendar; dates can move).

Relative performance

Six months, rebased to 100: EQ Resources against the median of its 20 peers (local-currency closes).

EQ Resources financials

Reported figures in AUD; fiscal year ends 2026-06-30. TTM = trailing twelve months.
	TTM	FY2026	FY2025	FY2024	FY2023
Revenue	A$165M	A$165M	A$66.0M	A$26.5M	A$5.04M
Revenue growth	—	+150%	+149%	+425%	—
Gross profit	A$29.9M	A$29.9M	-A$24.1M	-A$21.2M	-A$7.17M
EBITDA	A$36.1M	A$36.1M	-A$14.7M	-A$21.7M	-A$8.23M
Net income	A$7.11M	A$7.11M	-A$39.2M	-A$27.7M	-A$3.72M
Free cash flow	-A$17.7M	-A$17.7M	-A$18.9M	-A$25.4M	-A$5.69M
Capital expenditure	A$18.2M	A$18.2M	A$10.2M	A$14.5M	A$7.38M
Total debt	n/a	A$36.8M	A$60.8M	A$45.7M	A$7.23M

Quarterly statements and history in the cockpit →

EQ Resources competitor charts

The default views of Competitor Analysis ▸ Charts, drawn from the same data. Open them in the cockpit to change the axes, pin companies and read every value.

Performance: 6-month against 1-month return

Up and to the right = strong over both horizons. EQ Resources is the large dot.

Fundamentals: revenue growth against valuation

Further right = faster growth; higher = more expensive. The dashed lines are the peer medians. EQ Resources is the large dot.

EQ Resources competitors and peer comparison

Head to head with its named competitors (EQR.AX vs AII.TO)
Company	Market cap	6M return	Revenue growth	Op. margin	Forward P/E	Req g
EQ Resources EQR.AX	$1.01B	+6%	+150%	11%	4.3×	n/a
Almonty Industries AII.TO	n/a	+1%	n/a	n/a	n/a	n/a

How EQ Resources compares with its peers

Peer set: Industry: the same industry and sector in any market, nearest in size. This is the same default set the interactive Competitor Analysis opens with.

EQ Resources against its 20 peers (data as of 6 Nov 2026)
Measure	EQR.AX	Peer median	Rank in peer set
1-month return	-16.4%	-7.8%	3rd lowest of 21
6-month return	+5.7%	-9.3%	4th highest of 19
Distance from 52-week high	-48.6%	-41.2%	6th lowest of 21
Revenue growth (TTM)	+150.5%	+49.9%	2nd highest of 9
Operating margin	11.3%	1.7%	5th highest of 11
Forward P/E	4.3×	14.0×	cheapest of 8
ROIC minus cost of capital	+1.5 pp	-17.6 pp	4th highest of 19
EV / EBITDA	40.5×	14.7×	most expensive of 6
Net debt / EBITDA	0.2×	-0.5×	3rd most indebted of 6

Peer table

Peer set: Industry: the same industry and sector in any market, nearest in size
Company	Market	Market cap	6M return	Revenue growth	Op. margin	Forward P/E	Req g	Delivered g
EQ Resources EQR.AX	Australia	$1.01B	+6%	+150%	11%	4.3×	n/a	n/a
New Pacific Metals NUAG.TO	Canada	$1.05B	0%	n/a	n/a	n/a	n/a	n/a
Yunding Technology 000409.SZ	China	$960M	-18%	+6%	6%	69.8×	n/a	n/a
McEwen MUX.TO	Canada	$954M	-31%	+54%	-3%	31.8×	59.7%	+15.2%
RIO2 RIO.TO	Canada	$1.08B	-6%	n/a	20%	6.1×	36.3%	n/a
Gogold Resources GGD.TO	Canada	$1.08B	+19%	+64%	47%	29.0×	13.3%	+13.8%
Hemlo Mining HMMC.TO	Canada	$1.09B	-9%	n/a	n/a	10.8×	n/a	n/a
Highlander Silver HSLV.TO	Canada	$906M	-23%	n/a	-60%	n/a	n/a	n/a
Benz Mining BZ.V	Canada	$1.15B	+120%	n/a	n/a	n/a	n/a	n/a
Omai Gold Mines OMG.V	Canada	$879M	-23%	n/a	n/a	n/a	n/a	n/a
Critical Metals CRML	United States	$864M	-58%	n/a	n/a	n/a	n/a	n/a
Vizsla Silver VZLA.TO	Canada	$1.18B	-1%	n/a	n/a	n/a	n/a	n/a
EACON 7687.HK	Hong Kong	$1.23B	n/a	+46%	-22%	n/a	n/a	n/a
Pantoro Gold PNR.AX	Australia	$826M	-9%	+35%	34%	12.2×	-0.5%	+40.5%
Liberty Gold LGD.TO	Canada	$819M	+50%	n/a	n/a	n/a	n/a	n/a
i-80 Gold IAU.TO	Canada	$1.24B	-2%	+38%	-103%	n/a	n/a	n/a
Cadillac Mines CADY.TO	Canada	$815M	n/a	n/a	n/a	n/a	n/a	n/a
Osisko Gold OGG.V	Canada	$814M	-18%	+805%	-51%	n/a	n/a	n/a
Avino Silver & Gold Mines ASM.TO	Canada	$799M	-30%	+54%	44%	14.0×	23.6%	+42.1%
Dakota Gold DC	United States	$798M	-1%	n/a	n/a	n/a	n/a	n/a
FireFly Metals FFM.AX	Australia	$798M	-31%	n/a	n/a	n/a	n/a	n/a

Questions

Who are EQ Resources's main competitors?: Named competitors: Almonty Industries (AII.TO), Masan High-Tech Materials (private or unlisted). The cockpit's measured peer set (industry) also includes New Pacific Metals (NUAG.TO), Yunding Technology (000409.SZ), McEwen (MUX.TO), RIO2 (RIO.TO), Gogold Resources (GGD.TO), Hemlo Mining (HMMC.TO).
Is EQ Resources expensive compared with its peers?: On forward p/e it trades at 4.3× against a peer median of 14.0×, cheapest of 8 in its peer set.
How has EQ Resources stock performed?: Over six months to 6 Nov 2026 the shares returned +5.7% against -9.3% for the median peer; over one year +636.8%.