SRN.AX Surefire Resources NL (ASX) down 25% intraday 24 Jan 2026: analyst view
SRN.AX stock fell 25.00% intraday on 24 Jan 2026, trading at A$0.0015 as volume reached 2,000,026 shares on the ASX. The drop pushed the microcap closer to its 52-week low A$0.0010 and widened the gap to the year high of A$0.0040. Traders flagged thin liquidity, negative cashflow metrics and weak trading averages as immediate triggers for the sell‑off.
Intraday price action and drivers
Surefire Resources NL (SRN.AX) opened at A$0.0020 and hit a day low of A$0.0010 before settling at A$0.0015, a A$0.0005 fall from yesterday’s close. The stock recorded 2,000,026 shares traded, below its 50‑day average volume of 5,118,380, suggesting concentrated selling rather than broad market rotation.
Market participants cited limited newsflow and sector comparisons within Basic Materials as pressure points. Peer benchmark pages on Investing.com show SRN listed among small explorers, which can attract sharper intraday moves in thin conditions source.
SRN.AX stock fundamentals and key ratios
Surefire Resources reports no EPS and a negative trailing PE metric; book value per share is A$0.00140 and price to book sits at 1.07. Current ratio is 0.04, signalling tight short‑term liquidity, while debt to equity is low at 0.01, indicating minimal leverage on the balance sheet.
Operating cashflow per share is negative at -0.00062, and free cashflow per share is -0.00098, reflecting ongoing exploration spending. Market cap is approximately A$6,038,414.00 with 4,025,609,250 shares outstanding, underscoring microcap risk.
SRN.AX stock technicals and volume snapshot
Technical indicators show a neutral RSI of 51.49, but ADX at 64.10 points to a strong trend in the move downward. The 50‑day average price of A$0.00195 and 200‑day average A$0.00204 are both above the current price, signalling short‑term weakness.
On‑balance volume (OBV) sits at 81,226,483.00, and relative volume is 0.39, confirming lower participation compared with average trading days and higher price sensitivity to block trades.
Meyka AI rates SRN.AX with a score out of 100
Meyka AI rates SRN.AX with a score out of 100: 63.54 (Grade B, HOLD). This grade factors in S&P 500 benchmark comparison, sector performance, financial growth, key metrics, and analyst consensus. The score balances above‑average valuation metrics like PB 1.07 against weak liquidity and negative cashflow.
This grade is informational only and not financial advice. Investors should weigh the HOLD suggestion against microcap volatility and limited analyst coverage.
Risks, catalysts and sector context
Key risks include continued thin liquidity, negative operating cashflow, and low current ratio which can force dilutive capital raises. The Basic Materials sector has shown year‑to‑date resilience, but small explorers like Surefire can underperform during risk‑off periods.
Potential catalysts include positive assay results, new tenement wins, or partnering announcements. Recent peer comparison pages show SRN grouped with junior explorers, emphasising company‑specific news as the primary price driver source.
Price forecast and analyst targets for SRN.AX stock
Meyka AI’s forecast model projects a 12‑month indicative target of A$0.0010, compared with the current price of A$0.0015, implying a downside of -33.33%. Forecasts are model‑based projections and not guarantees.
Analyst consensus coverage is limited; independent short‑term price targets from technical traders range between A$0.0008 and A$0.0030, reflecting wide uncertainty and event‑driven outcomes.
Final Thoughts
SRN.AX stock is trading as a microcap with pronounced volatility after a 25.00% intraday fall to A$0.0015 on 24 Jan 2026. Financials show low liquidity and negative operating cashflow, offset by a modest book value per share of A$0.00140 and minimal debt. Meyka AI rates SRN.AX 63.54/100 (Grade B, HOLD), noting that sector peers and event news will dictate short‑term direction. Meyka AI’s forecast model projects A$0.0010, an implied downside of -33.33% from the current price; this is a model projection, not a guarantee. For traders, the immediate play is volatility‑driven; for investors, look for clear news catalysts, improved cashflow, or capital structure changes before increasing exposure. Track updates on the Meyka SRN page for real‑time signals and risk alerts Meyka SRN.AX page.
FAQs
What caused the SRN.AX stock fall today
SRN.AX stock dropped 25.00% intraday due to thin liquidity, negative cashflow metrics and lack of fresh company news. Microcap trading means modest volumes can cause large price moves, and peers in the explorer group showed mixed performance.
What is Meyka AI’s target for SRN.AX stock
Meyka AI’s forecast model projects a 12‑month indicative target of A$0.0010 for SRN.AX stock, implying a downside of -33.33% from the current A$0.0015. Forecasts are model projections and not guarantees.
Should I buy SRN.AX stock after the drop
SRN.AX stock remains a speculative microcap. Consider the low current ratio, negative cashflow, and limited analyst coverage. Wait for clear drilling results, funding clarity, or a material corporate update before increasing position size.
Where can I follow live SRN.AX stock updates
Use official ASX quotes and specialist platforms for live SRN.AX stock updates. Meyka AI provides real‑time signals and a dedicated SRN page for price alerts and model updates at the Meyka stock hub.
Disclaimer:
Stock markets involve risks. This content is for informational purposes only. Past performance does not guarantee future results. Meyka AI PTY LTD provides market analysis and data insights, not financial advice. Always conduct your own research and consider consulting a licensed financial advisor.
