CHK.AX Cohiba Minerals ASX 29 Jan 2026: A$0.005 on 35.07M shares shows momentum
The CHK.AX stock jumped to A$0.005 on 29 Jan 2026, trading 35,069,450 shares, a volume surge well above the 50-day average. The move closed the session at +66.67% versus the prior close and put the share price above both the 50-day average (A$0.00313) and 200-day average (A$0.00280). On the ASX in Australia this qualifies as a high-volume mover and merits a closer look at technicals, valuation and the likely drivers behind the spike.
CHK.AX stock: Market move and session summary
Cohiba Minerals Limited (CHK.AX) closed the ASX session at A$0.005, up 0.002 or 66.67% from the previous close of A$0.003. The intraday range was A$0.004–A$0.006 and the year high remains A$0.007. The release-free session and the large trade count suggest momentum traders and new retail interest drove the move.
The market-cap stood at A$21,482,900.00 with 4,296,580,096 shares outstanding. Trading activity gave CHK.AX a relative volume of 11.33, signalling an outsized shift in investor attention compared with average turnover.
CHK.AX stock: Volume, price and technicals
Volume was 35.07M versus an average volume of 3.09M, a near elevenfold increase. The price rose above the 50-day average A$0.00313 and the 200-day average A$0.00280, marking a short-term breakout. Market participants should note the day high A$0.006 and the tight float dynamics common in microcap explorers.
Momentum indicators are implied by the price beating moving averages, but liquidity remains concentrated. For traders, stop placement matters: the prior support cluster sits near A$0.003 and the immediate resistance lies near the year high A$0.007.
CHK.AX stock: Financials and valuation
Cohiba Minerals operates in Basic Materials and reports exploration-focused metrics. Key per-share figures include book value A$0.00586 and cash per share A$0.00104. The company shows negative net income per share -A$0.00210 and operating cash flow per share -A$0.00107, reflecting ongoing exploration spending.
Valuation ratios show a price-to-book of 0.85 and a negative PE due to losses. The enterprise value is A$19,684,914.00, and the current ratio 1.74 suggests short-term liquidity coverage is adequate for exploration activity.
CHK.AX stock: Catalysts, risks and sector context
There was no confirmed ASX announcement tied to today’s spike. The move likely reflects speculative interest, sector momentum in Basic Materials and retail trading in microcap explorers. The Basic Materials sector has returned 14.71% YTD, which can lift small explorers when commodity sentiment improves.
Key risks include low liquidity at higher prices, dilution risk from equity raises, and negative operating cash flows. Opportunities center on successful exploration results at Pyramid Lake, Wee MacGregor or Olympic Domain tenements, which would materially change valuation assumptions.
CHK.AX stock: Meyka AI grade and analyst view
Meyka AI rates CHK.AX with a score out of 100: 58.63 (Grade C+, Suggestion: HOLD). This grade factors in S&P 500 benchmark comparison, sector performance, financial growth, key metrics, and analyst consensus. The score reflects exploration upside balanced by weak earnings and negative cash flow.
No formal broker price target appears in public feeds today. Given the microcap structure, consensus coverage is thin and independent due diligence is essential before trading.
CHK.AX stock: Price forecast and trading implications
Meyka AI’s forecast model projects a 12-month baseline target of A$0.012, implying an upside of 140.00% from the current A$0.005. Forecasts are model-based projections and not guarantees. The target assumes positive exploration updates or a sustained improvement in commodity sentiment.
For traders, manage position size because shares can be volatile. For longer-term investors, watch cash burn, planned drilling programs, and any capital-raising notices that would dilute holdings.
Final Thoughts
CHK.AX stock closed the ASX session at A$0.005 on 29 Jan 2026 with unusually high volume of 35,069,450 shares, marking it a clear high-volume mover. The price sits above the 50-day and 200-day averages, signalling short-term momentum, but underlying fundamentals remain exploration-stage with negative earnings and cash flow. Meyka AI rates CHK.AX with a score out of 100 at 58.63 (Grade C+, HOLD), reflecting potential upside against material operational and dilution risks. Meyka AI’s forecast model projects a 12-month target of A$0.012, implying 140.00% upside versus the current price; forecasts are model-based projections and not guarantees. Investors should prioritise verification of any company announcements, monitor drilling results, and plan strict risk controls because microcap mining stocks can move rapidly on limited news.
FAQs
What drove the CHK.AX stock surge today?
The CHK.AX stock jump to A$0.005 came on 35.07M shares, well above average. The surge looks driven by speculative interest and sector momentum rather than a confirmed ASX announcement. Watch for company updates that could confirm a catalyst.
What is Meyka AI’s view on CHK.AX stock?
Meyka AI rates CHK.AX with a score out of 100 at 58.63 (Grade C+, HOLD). The rating balances exploration upside with negative earnings and cash flow. This is informational and not investment advice.
What are short-term technical levels for CHK.AX stock?
Short-term technicals show support near the prior close A$0.003 and resistance near the year high A$0.007. The price trading above the 50-day (A$0.00313) and 200-day (A$0.00280) averages suggests momentum but limited liquidity.
How does CHK.AX stock compare to its Basic Materials peers?
CHK.AX stock is a microcap explorer within the Basic Materials sector. The sector has returned 14.71% YTD, led by large miners. CHK.AX trades at a price-to-book of 0.85 but shows negative earnings and cash flow unlike mature peers.
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.
