DEG.AX De Grey Mining ASX falls 8.21% to A$2.46 on 30 Jan 2026: volume surge
De Grey Mining Limited (DEG.AX stock) closed the ASX session on 30 Jan 2026 at A$2.46, down -8.21% from yesterday as trading volume surged to 137,596,438 shares. The stock opened at A$2.68 and hit a day low of A$2.46, trading well above its 50-day average of A$2.25 and 200-day average of A$1.75. Market moves reflect heavy short-term activity in the Gold sector and profit-taking after recent gains; below we unpack fundamentals, technical readings, Meyka AI grade and forecast, and near-term price targets for DEG.AX stock.
DEG.AX stock: day summary and intraday drivers
DEG.AX stock fell -8.21% to A$2.46 on 30 Jan 2026 on a volatile session. Volume hit 137,596,438 versus an average of 15,830,378, a relative volume of 8.69 indicating outsized trading interest. The share move followed profit-taking from recent multi-month gains (YTD +37.43%, 1Y +121.62%) and some sector rotation within Basic Materials as gold names corrected. One-day EPS remains negative at -0.01 with a P/E shown as -246.00, reflecting loss-per-share accounting rather than earnings strength.
DEG.AX stock fundamentals and balance sheet metrics
De Grey Mining (DEG.AX) carries a market capitalisation of A$5,915,069,921.00 and 2,404,499,968 shares outstanding. Cash per share is A$0.47 and book value per share is A$0.69, producing a price-to-book ratio of 3.55. Current and quick ratios are very high (current ratio 30.52), driven by a strong cash position and minimal debt (debt to equity 0.01). Revenue per share is negligible and net income per share is -0.00934, consistent with an explorer-stage gold company reinvesting in development at the Mallina project in Western Australia.
DEG.AX stock: technical context and trading patterns
Technically, DEG.AX stock sits above both its 50-day average (A$2.25) and 200-day average (A$1.75), supporting the multi-month uptrend. Intraday swing suggests short-term profit-taking after a rally: day high A$2.68, day low A$2.46. The stock’s extreme relative volume signals institutional or algorithmic activity. Volatility measures are elevated with an ATR not meaningful in the feed, but the price range and large volume underline increased liquidity and intraday volatility for traders.
DEG.AX stock valuation, sector comparison and key risks
Valuation metrics are stretched for an explorer: price-to-sales is effectively meaningless given minimal revenue, while price-to-book at 3.55 implies the market values De Grey’s resource and exploration progress. The Basic Materials / Gold sector has outperformed (1Y +67.56%), lifting peer multiples and investor appetite for gold exposures. Key risks include resource development delays, gold price swings, and capital expenditure needs: free cash flow per share is -0.06 and capex per share 0.06, underlining funding sensitivity if development accelerates.
DEG.AX stock: Meyka AI grade, analyst view and forecasts
Meyka AI rates DEG.AX with a score out of 100: 58.90 | Grade: C+ | Suggestion: HOLD. This grade factors in S&P 500 benchmark comparison, sector performance, financial growth, key metrics, and analyst consensus. Independent company rating data shows a broader model recommendation of C / Sell dated 04 Mar 2025, reflecting weak profitability ratios.
Meyka AI’s forecast model projects a 12-month price of A$2.79, a 3-year price of A$3.85 and a 5-year price of A$4.90. Compared with the current price of A$2.46, the 12-month model implies an upside of +13.27%. Forecasts are model-based projections and not guarantees.
DEG.AX stock: catalysts, opportunities and tactical strategy
Near-term catalysts for DEG.AX stock include drilling updates from the Mallina project, gold price moves and any capital raising or JV announcements. Opportunities exist if De Grey converts resources into higher-confidence reserves and achieves development milestones. Tactically, traders may use elevated volume and pullbacks to size positions; longer-term investors should monitor dilution risk and development capex. For active traders, set stop-loss thresholds around recent support and manage position size around the stock’s heightened intraday volatility.
Final Thoughts
DEG.AX stock closed the ASX session on 30 Jan 2026 at A$2.46, down -8.21% on heavy volume of 137,596,438 shares. Fundamentals show a strong cash position (A$0.47 per share) and sizeable market cap (A$5.92 billion), but negative earnings and high capex needs keep valuation metrics mixed. Meyka AI’s models point to a 12-month projection of A$2.79, implying +13.27% upside from today’s price; a reasonable short-term price target for active traders is A$3.00, with a conservative downside scenario near A$1.50 if gold or project news turn negative. Our proprietary grade (C+, HOLD) reflects the balance between resource upside and execution risk. Use news-driven updates, watch Mallina drilling results, and treat forecasts as model-based projections, not guarantees. For real-time alerts and deeper metrics see DEG.AX on Meyka’s platform and the company site for official releases.
FAQs
What drove DEG.AX stock lower on 30 Jan 2026?
DEG.AX stock fell on 30 Jan 2026 due to profit-taking after recent gains and a large volume spike of 137,596,438 shares. Sector rotation in Basic Materials and short-term trader activity amplified the move.
What is Meyka AI’s price forecast for DEG.AX stock?
Meyka AI’s forecast model projects A$2.79 at 12 months for DEG.AX stock, implying +13.27% from the current A$2.46. Forecasts are model projections and not guarantees.
What are the main risks for investors in DEG.AX stock?
Key risks for DEG.AX stock include development delays at the Mallina project, capital raising or dilution, and gold price volatility. Negative operational news could widen downside from current levels.
How does De Grey’s balance sheet support its strategy?
De Grey shows strong liquidity with cash per share A$0.47 and low net debt, supporting exploration and development. However free cash flow is negative and capex needs require monitoring for funding plans.
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.
