DEG.AX De Grey Mining (ASX) down 8.21% to A$2.46 23 Feb 2026: watch volume spike
DEG.AX stock closed the ASX session at A$2.46, down -8.21% on 23 Feb 2026, after heavy intraday trading. Volume surged to 137,596,438 shares versus an average of 15,830,378, making De Grey Mining Limited one of the most active ASX names at market close. The move followed profit-taking after recent gains and a stronger gold complex. We review price action, fundamentals and forecasts to show what active traders should monitor next.
DEG.AX stock today: price, volume and session close
De Grey Mining Limited (DEG.AX) closed the ASX market at A$2.46, down A$0.22 from the previous close of A$2.68. The session high was A$2.68 and the low matched the close at A$2.46. Traded volume reached 137,596,438, about 8.69 times the average volume of 15,830,378, signalling heavy active interest. The stock is trading within a 52-week range of A$0.99 to A$2.77 on the ASX in Australia.
DEG.AX stock drivers: project updates and sector context
De Grey remains focused on the Mallina Gold project in the Pilbara, which shapes newsflow and investor sentiment. Gold sector strength lifted similar juniors in recent months, supporting DEG.AX performance. The Basic Materials sector has shown 6M gains of 40.60%, which helps explain rotating inflows into gold names. Company announcements and drill results will drive the next moves, so active traders should watch corporate releases and gold price shifts for immediate catalysts. Sources: De Grey Mining website and the ASX company page.
DEG.AX stock fundamentals: key ratios and balance sheet
De Grey reports EPS of -0.01 and a trailing PE of -246.00, reflecting negative earnings and exploration-stage economics. The price to book ratio is 3.55 and cash per share is 0.47 AUD, showing a liquid balance sheet for an explorer. Market capitalisation is about A$5.92B with 2,404,499,968 shares outstanding. Debt metrics are low with debt to equity near 0.01, while the current ratio reads 30.52, highlighting a strong short-term liquidity position for ongoing drilling programs.
DEG.AX stock technicals and trading signals
The 50‑day average is A$2.25 and the 200‑day average is A$1.75, both below the current price, which indicates a medium-term uptrend. Relative volume at 8.69x points to a liquidity event rather than routine turnover. Key intraday levels: near‑term support sits around A$2.30 and immediate resistance near the 52‑week high of A$2.77. Active traders should track order flow, VWAP, and follow-up volume to confirm directional conviction.
Meyka grade and DEG.AX stock price forecast
Meyka AI rates DEG.AX with a score out of 100: Meyka AI rates DEG.AX with a score out of 100 58.79 | 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 today. The model shows a 3‑year target of A$3.85 (+56.49%) and a 5‑year target of A$4.90 (+99.37%). Forecasts are model‑based projections and not guarantees.
DEG.AX stock risks and opportunities for traders
Opportunity: exposure to Mallina resource expansion and rising gold prices can lift valuation quickly for explorers. Risk: exploration outcomes are binary and earnings remain negative, as shown by EPS -0.01 and volatile operating cash flows. Liquidity is strong today, but price swings can widen, increasing trading risk. Active investors should size positions, monitor drill releases, and hedge around key catalysts.
Final Thoughts
DEG.AX stock closed the most active ASX session on 23 Feb 2026 at A$2.46, down -8.21%, after a volume spike to 137,596,438 shares. Fundamentals show solid cash per share (A$0.47) and low net debt, but negative earnings and high exploration spending keep traditional ratios stretched. Meyka AI’s forecast model projects a 12‑month level of A$2.79, implying +13.33% upside versus the current price, with larger gains possible over three to five years if resource growth continues. Traders should watch upcoming drill updates, Australian gold prices and follow-on volume to confirm trend continuation. These forecasts are model outputs and not guarantees. Meyka AI provides this AI‑powered market analysis to help frame risk and opportunity for active positions in DEG.AX.
FAQs
What drove DEG.AX stock today?
DEG.AX stock moved on heavy trading volume and sector momentum in gold. Profit taking after recent gains and ongoing drill anticipation for Mallina drove the selloff to A$2.46 on 23 Feb 2026.
What are Meyka AI’s price targets for DEG.AX stock?
Meyka AI’s model projects A$2.79 in 12 months (+13.33%), A$3.85 in 3 years (+56.49%), and A$4.90 in 5 years (+99.37%). Forecasts are model‑based and not guarantees.
Are there major risks for DEG.AX stock investors?
Yes. Main risks include drill results that miss expectations, swings in the gold price, and negative earnings. De Grey’s EPS is -0.01, so exploration outcomes will strongly affect valuation.
How liquid is DEG.AX stock for active trading?
Liquidity spiked today with 137,596,438 shares traded versus an average of 15,830,378, making DEG.AX highly tradable during the session. RelVolume was about 8.69x, signalling temporary heavy flow.
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.