DEG.AX De Grey Mining ASX closed A$2.46 (-8.21%) 28 Jan 2026: what traders should watch
DEG.AX stock fell 8.21% to A$2.46 at market close on 28 Jan 2026, trading an outsized 137,596,438 shares as the most active ASX listing today. The drop followed an opening print at A$2.68 and a day high of A$2.68, leaving the stock at its session low A$2.46. High turnover — 8.69x average volume — makes this a meaningful liquidity event for De Grey Mining Limited (ASX: DEG.AX) and shifts near-term trader positioning.
Intraday moves and trading context for DEG.AX stock
DEG.AX stock led ASX activity with 137,596,438.00 shares traded against an average of 15,830,378.00, giving a relative volume of 8.69. The share price opened at A$2.68, closed at A$2.46, and recorded a one-day fall of A$0.22 (−8.21%). One clear claim: the session’s heavy selling tightened intra-day liquidity and tested the stock’s support near its 50-day average of A$2.25.
Fundamentals and valuation snapshot for DEG.AX stock
De Grey Mining (DEG.AX) carries a market capitalisation of A$5.92 billion and enterprise value of A$5.24 billion. Key ratios show EPS A$-0.01, P/E -246.00, price-to-book 3.55, and cash per share A$0.47. Operating cash flow per share is A$-0.01 and free cash flow per share is A$-0.06, indicating capital intensity as the company advances Mallina exploration. These metrics underline an exploration-stage valuation rather than an earnings-based multiple.
Project catalysts and sector context shaping DEG.AX stock
De Grey Mining’s 100% owned Mallina Gold project in the Pilbara (about 1,500 km²) remains the primary catalyst for DEG.AX stock. The Basic Materials sector in Australia is up 14.08% YTD, while DEG.AX has advanced 37.43% YTD, reflecting company-specific resource news and exploration success. Management under CEO Glenn Jardine continues drilling programs that will drive future resources and newsflow.
Technicals, liquidity and short-term trading signals for DEG.AX stock
Price is above the 200-day average (A$1.75) and near the 50-day average (A$2.25), supporting a constructive medium-term trend despite today’s pullback. Technical indicators are thin on reliable oscillator prints due to intraday extremes, but the huge volume spike and price gap from A$2.68 to A$2.46 indicate short-term volatility and active order-book churn. Traders should expect higher bid-ask spreads and quicker moves on news.
Meyka AI grade and model forecast for DEG.AX stock
Meyka AI rates DEG.AX with a score of 58.92 out of 100 — Grade C+, Suggestion: HOLD. This grade factors in S&P 500 benchmark comparison, sector performance, financial growth, key metrics, and analyst consensus. Meyka AI’s forecast model projects a 12-month price of A$2.79, implying an upside of 13.33% from the current A$2.46. Forecasts are model-based projections and not guarantees.
Risks, consensus signals and near-term price targets for DEG.AX stock
Company ratings show mixed signals: a third-party company rating flagged a C / Sell view on 4 Mar 2025, and financials include negative operating margins and high capex intensity. Short-term price targets: a conservative range A$2.40–A$3.00, 12-month model target A$2.79, and a 3-year midpoint A$3.85. Key risks include exploration setbacks, commodity-price swings, and funding needs; upside depends on resource upgrades and sustained gold prices.
Final Thoughts
DEG.AX stock closed the ASX session at A$2.46 on 28 Jan 2026 on exceptional volume, marking it the most active trade on the day and highlighting heightened trader attention. Fundamentals show a capital-intensive explorer with EPS A$-0.01, P/E -246.00, and price-to-book 3.55, while cash per share (A$0.47) cushions near-term programs. Sector context matters: De Grey has outpaced Basic Materials YTD, but valuation reflects exploration risk rather than stable earnings. Meyka AI’s forecast model projects a 12-month price of A$2.79 (implied +13.33%), with a 3-year view to A$3.85 in a resource-growth scenario; these are model outputs, not guarantees. For traders, today’s 8.21% decline on 8.69x volume raises both liquidity-driven short-term opportunity and volatility risk. Watch upcoming drilling results, gold price moves, and company newsflow as triggers for the next leg of price discovery. For more live updates and data-driven context visit the Meyka DEG.AX page and source reports such as Bloomberg.
FAQs
What caused the DEG.AX stock fall on 28 Jan 2026?
DEG.AX stock fell after heavy selling drove price from A$2.68 to A$2.46, with unusually high volume of 137,596,438 shares. The move reflects trader repositioning, news-sensitivity around Mallina exploration, and wider volatility in resource names.
What is Meyka AI’s short-term outlook for DEG.AX stock?
Meyka AI’s forecast model projects a 12-month price of A$2.79 for DEG.AX stock, implying about 13.33% upside from A$2.46. Forecasts are model-based projections and not guarantees.
Are De Grey Mining’s fundamentals supportive for DEG.AX stock?
De Grey shows exploration-stage metrics: market cap A$5.92B, EPS A$-0.01, PB 3.55 and cash per share A$0.47. These fundamentals support continued funding-driven programs, not earnings yield.
How liquid is DEG.AX stock for traders?
Liquidity spiked: today’s volume was 137,596,438 versus an average of 15,830,378 (rel. volume 8.69). Expect wider spreads and faster intraday moves when volume is elevated.
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.
