DEG.AX down 8.21% to A$2.46 pre-market 03 Jan 2026: heavy 137.60M volume signals active trade
De Grey Mining Limited (DEG.AX) is trading pre-market on the ASX at A$2.46, down 8.21% on heavy volume of 137,596,438 shares as of this session. The sharp move follows a strong 1-year rise of 121.62% and a YTD gain of 37.43%, suggesting profit-taking after recent gains. This DEG.AX stock update summarises key fundamentals, recent earnings beats, technical levels and our model forecast to help active traders assess near-term opportunities and risks on the Australia market in AUD.
Price action and liquidity
DEG.AX opened at A$2.68 and is trading at A$2.46 pre-market, a decline of A$0.22 or -8.21%. The session range to date is A$2.46–A$2.68. Volume is 137,596,438 vs average volume 15,830,378, giving a relative volume of 8.69 — a clear sign this is one of the most active ASX names this pre-market. Year high is A$2.77 and year low is A$0.99, showing continued volatility after a large multi-period rally.
Recent earnings and financial snapshot
De Grey reported EPS of A$0.0015 on 11 Feb 2025, ahead of the estimate of -A$0.00135, with revenue A$316,947 vs estimate A$316,000. On 17 Oct 2024 the company reported EPS -A$0.00528. The stock shows EPS TTM -A$0.01 and a negative PE (reported -246.00), reflecting recent losses on a per-share basis. Market capitalisation is A$5,915,069,921 with 2,404,499,968 shares outstanding. Key balance-sheet metrics include cash per share A$0.32 and current ratio 33.10, indicating strong short-term liquidity for exploration activity.
Valuation and sector context
DEG.AX trades at price/book 4.68 and price averages A$2.25 (50-day) and A$1.75 (200-day). The company sits in the Basic Materials sector (Gold industry) where the sector 1-year performance is +40.95% and YTD +52.61%, so De Grey has broadly tracked a strong commodities cycle. De Grey has no dividend yield and free cash flow per share TTM is -A$0.06, consistent with a resource explorer reinvesting in drilling and development.
Technical picture and near-term levels
Price sits above the 50-day average A$2.25 and above the 200-day average A$1.75, a bullish medium-term structure despite today’s pullback. Short-term support sits around the 50-day A$2.25 and the 200-day A$1.75; immediate resistance is the year high A$2.77 and round number A$3.00. With high relative volume, intraday volatility is likely; traders should watch whether turnover falls back toward the 50-day average.
Meyka grade and model forecasts
Meyka AI rates DEG.AX with a score out of 100: 63 — Grade B — 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 1-year price of A$2.26 and a 3-year target of A$3.32. Compared with the current price A$2.46, the 1-year projection implies downside -8.22% and the 3-year projection implies upside +34.76%. Forecasts are model-based projections and not guarantees.
Risks and catalysts
Key catalysts include additional drilling results from the Mallina Gold project, updates on resource growth and gold price movements. Principal risks are exploration execution, funding needs if costs rise, and commodity price volatility. De Grey has very low net debt metrics but negative trailing EPS and free cash flow, reflecting exploration-stage capital spend rather than operating revenue.
Final Thoughts
DEG.AX stock is one of the most active ASX names this pre-market session — trading A$2.46, down 8.21% with unusually high volume of 137,596,438 shares. Fundamentals show strong liquidity (current ratio 33.10, cash per share A$0.32) but negative EPS TTM (A$-0.01) and no dividend. Technicals place the stock above the 50-day A$2.25 and 200-day A$1.75 averages, so the pullback may be a rebalancing after a 121.62% 1-year gain. Meyka AI rates DEG.AX at 63/100 (Grade B, HOLD) and the model projects a 1-year price of A$2.26 (implied -8.22%) and a 3-year price of A$3.32 (implied +34.76%). Short-term traders should watch turnover and the 50-day support near A$2.25; longer-term investors can weigh exploration updates and gold-market direction. These observations come from Meyka AI’s data-driven market analysis platform and should be used with other research — forecasts are model-based and not investment guarantees.
FAQs
DEG.AX fell A$0.22 (-8.21%) pre-market amid very heavy volume (137.60M). The move looks like profit-taking after sizable gains over the past year and strong YTD performance; no single public catalyst was reported in the data set.
Near-term support is the 50-day average at A$2.25 and the 200-day average at A$1.75. Immediate resistance is the year high at A$2.77 and a round number at A$3.00.
Meyka AI assigns DEG.AX a score of 63/100 (Grade B, HOLD). The model shows a 1-year projection A$2.26 (down -8.22%) and a 3-year projection A$3.32 (+34.76%). These are model projections, not guarantees.
Recent beats (EPS A$0.0015 vs est -A$0.00135 and revenue A$316,947) can support sentiment, but De Grey is exploration-focused so drilling updates and gold prices typically drive larger moves than quarterly results.
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.
