DEG.AX De Grey Mining (ASX) down 8.21% to A$2.46 on 26 Jan 2026: heavy volume signals active trading
DEG.AX stock led ASX activity on 26 Jan 2026, slipping 8.21% to A$2.46 as traders dumped shares on heavy turnover. Volume surged to 137,596,438 shares, roughly 8.69x average, marking De Grey Mining Limited (DEG.AX) the most active ASX-listed miner today. The move came from a high open at A$2.68 and a daily low at A$2.46, and it reflects short-term profit-taking after a strong YTD gain of 37.43%. We break down price action, liquidity, valuation, Meyka AI grading and forecasts to help investors weigh the risk-reward ahead of upcoming catalysts.
DEG.AX stock price action and session summary
DEG.AX stock closed at A$2.46, down 8.21% from yesterday’s A$2.68. The session high was A$2.68 and the low A$2.46, with market cap about A$5.92B and shares outstanding 2,404,499,968. The company remains listed on the ASX in Australia and trades in AUD.
One clear driver was intraday profit-taking after strong multi-month gains: DEG.AX is up 121.62% over 12 months and 37.43% YTD. The stock is trading above its 50-day average A$2.25 and 200-day average A$1.75, but today’s drop erased part of that momentum.
Trading volume, liquidity and short-term volatility for DEG.AX stock
Liquidity dominated today: 137,596,438 shares changed hands versus an average volume of 15,830,378, a relative volume of 8.69. That spike signals institutional or block trading rather than routine retail flows. High turnover increases intraday volatility and can widen spreads for traders.
The huge current relative volume often precedes follow-through moves. On the ASX, volume like this can compress short-term opportunities and heighten execution risk for large orders.
DEG.AX stock fundamentals and valuation snapshot
De Grey Mining Limited (DEG.AX) operates in the Basic Materials sector, focused on gold exploration at the Mallina project in Western Australia. Latest reported EPS is -0.01 with a negative PE of -246.00, reflecting current losses. Key balance sheet metrics include cash per share A$0.47, book value per share A$0.69, and a conservative debt profile: debt to equity 0.0064.
Valuation ratios show a price-to-book of 3.55 and elevated P/CF and EV multiples driven by minimal sales. Sector tailwinds for gold have helped relative performance; Basic Materials is up 12.76% YTD in Australia, supporting speculative interest in exploration names.
Meyka AI stock grade and DEG.AX stock forecast
Meyka AI rates DEG.AX with a score out of 100: 58.79 (C+) — HOLD. This grade factors in S&P 500 benchmark comparison, sector performance, financial growth, key metrics, and analyst consensus. The platform’s company rating data also lists a third-party score of C (Sell) dated 4 Mar 2025.
Meyka AI’s forecast model projects a yearly price of A$2.79, implying an upside of 13.32% from the current A$2.46. The 3-year projection is A$3.85 (+56.45%), and the 5-year projection is A$4.90 (+99.37%). Forecasts are model-based projections and not guarantees.
Technical picture and realistic price targets for DEG.AX stock
Technicals show the stock trading above the 50-day A$2.25 and 200-day A$1.75 averages, supporting a constructive medium-term trend despite today’s sell-off. Short-term resistance sits near A$2.68–A$2.77 (recent highs) and support near A$2.00 and the 50-day average.
Given volatility, realistic near-term price targets are A$2.80 (12-month) and A$3.85 (12–36 months) aligned with Meyka AI projections. Conservative traders may wait for a sustained move above A$2.68 or a pullback to A$2.20 for a lower-risk entry.
Risks, catalysts and what to watch in DEG.AX stock trading
Key catalysts include drill results from Mallina, permitting news, partnership announcements and gold price moves. De Grey’s next formal earnings announcement is scheduled for 28 Aug 2025, which could reset expectations. Macroeconomic drivers like AUD strength and global gold demand will influence the stock.
Risks include continued cash burn, negative EPS, exploration setbacks and the high valuation relative to current revenue. Today’s heavy volume increases the chance of follow-through moves, so risk management is essential for active traders.
Final Thoughts
DEG.AX stock was the most active ASX name on 26 Jan 2026, closing at A$2.46 after an 8.21% drop on exceptionally high 137,596,438 shares traded. That volume spike points to large-scale repositioning rather than normal day-to-day flows. Fundamentals show a cash-rich explorer with A$0.47 cash per share, negative EPS and a price-to-book of 3.55, leaving valuation stretched versus current sales. Meyka AI rates DEG.AX with a score out of 100: 58.79 (C+) — HOLD. Meyka AI’s forecast model projects A$2.79 for the year, implying a 13.32% upside versus A$2.46; longer-term projections point to A$3.85 in three years (+56.45%). These are model outputs, not guarantees. Traders should watch drill updates, gold prices and whether volume subsides. For active investors, today’s trading creates entry and exit points, but the stock’s high volatility and negative earnings profile require position sizing and a clear risk plan. For continuous market updates check our Meyka stock page and official news sources source.
FAQs
What drove DEG.AX stock’s heavy trading on 26 Jan 2026?
A combination of profit-taking after recent gains and at least one large block trade drove volume to 137,596,438 shares. The move occurred despite no major company announcement, suggesting portfolio rebalancing or institutional activity.
What is Meyka AI’s short-term forecast for DEG.AX stock?
Meyka AI’s forecast model projects A$2.79 over the next year, implying about 13.32% upside from the closing price of A$2.46. Forecasts are model-based projections and not guarantees.
Is DEG.AX stock undervalued based on financials?
Not currently. DEG.AX has negative EPS and a high price-to-book of 3.55, reflecting exploration-stage valuation rather than earnings. Investors often value De Grey on resources and drill success rather than short-term earnings.
What price targets should traders use for DEG.AX stock?
Near-term traders may target A$2.80 on a rebound and watch support near A$2.00. Longer-term model targets from Meyka AI are A$3.85 at three years and A$4.90 at five years. Adjust targets for risk tolerance.
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.
