Chrysos Corporation Ltd (ASX: C79) is an ASX industrials stock that has risen 67% year to date.
However, it hit a bit of a speed bump yesterday, falling 8%.
Last month, The Motley Fool's Leigh Grant covered in depth how its unique and innovative product – PhotonAssay – is changing the way mining companies test ore.
This kind of disruptive technology has seen its market capitalisation rapidly approach $1 billion and is quickly gaining investor attention.
This could be an opportunity for investors to gain exposure to an innovative company at a slight discount.
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What is Chrysos?
Chrysos combines science and software to create technology solutions for the global mining industry.
Its flagship product is PhotonAssay.
It can be used to detect a wide range of elements. However, it has proven particularly effective for assaying gold and is currently being rolled out across the gold mining industry.
PhotonAssay delivers faster, safer, more accurate, and environmentally friendly analysis of gold, silver, and complementary elements.
The technology has rapidly displaced slower, more hazardous, and costly processes. It has quickly become an innovative and valuable mining industry solution.
AGM at a glance
Yesterday, the company held its 2025 AGM, and reiterated FY26 guidance of:
- FY26 Total Revenue range of $80m to $90m
- FY26 EBITDA range of $20m to $27m
Following the AGM, the team at Bell Potter upgraded this ASX industrials stock to a buy rating. This was along with an increased price target.
It seems the broker believes Monday's 8% decline in share price could be an opportunity for investors to get in at a discount.
Here's what the broker had to say.
Industry adoption accelerating
In a report yesterday from Bell Potter, it highlighted the year-to-date (YTD) financial update (to 31 October 2025).
According to the report, revenue for this ASX industrials stock was $28.9m, up 54% year over year (YoY).
The broker also noted the company now has 41 deployed units, with recent deployments in Ontario and Norseman, two units currently being installed in Perth, two new lease agreements with ALS and Acrux Gold, and an MoU with Allied Gold for two additional units.
Upcoming installations include C79's first Newmont unit in Ghana, as well as additional units for Bureau Veritas in Chile, MSALABS in Canada, and Allied Gold in West Africa.
The company's industry adoption has accelerated over the past year, driven by its new Master Services Agreement with Newmont and expanding relationships with major commercial labs.
The exploration upcycle is expected to provide additional growth, supporting an EBITDA beat, and further accelerating adoption of PhotonAssay technology.
Buy recommendation for this ASX industrials stock
After previously having a hold rating on Chrysos shares, Bell Potter has upgraded the shares to a buy recommendation with an upgraded price target of $9.40.
This ASX industrials stock closed yesterday at $8.04 each.
With Bell Potter's updated price target, the broker indicates an upside of 16.92%.
Our C79 valuation is driven by a discounted cash flow model of the company's expected PhotonAssayTM deployment and resulting sales, under a leasing model. We also recognise a corporate cost valuation allowance.
