29METALS LIMITED (29M)
Share Price Analysis and Chart

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29M

29M - 29METALS LIMITED

FNArena Sector : Copper
Year End: December
GICS Industry Group : Materials
Debt/EBITDA: 20.69
Index:

LAST PRICE CHANGE +/- CHANGE % VOLUME

$0.45

02 Oct
2025

0.025

OPEN

$0.43

5.88%

HIGH

$0.46

6,520,683

LOW

$0.42

TARGET
$0.298 -33.9% downside
Franking for last dividend paid out: 100%
OTHER COMPANIES IN THE SAME SECTOR
A1M . AR1 . CNB . CSC . CVV . CY5 . CYM . FFM . HGO . LEG . MAC . MLX . MM8 . NEM . SFR . STM . TTM .
FNARENA'S MARKET CONSENSUS FORECASTS
29M: 1
Title FY23
Actual		 FY24
Actual		 FY25
Forecast		 FY26
Forecast
EPS (cps) xxx - 24.3 0.6 xxx
DPS (cps) xxx 0.0 0.0 xxx
EPS Growth xxx N/A N/A xxx
DPS Growth xxx N/A N/A xxx
PE Ratio xxx N/A 75.8 xxx
Dividend Yield xxx N/A 0.0% xxx
Div Pay Ratio(%) xxx N/A N/A xxx

Dividend yield today if purchased 3 years ago: 0.00%

DIVIDEND YIELD CALCULATOR

Dividend Yield Today On Last Actual Payout :

 0.00

Estimated Dividend Growth
(Average Of Past Three Years)

  %

Amount Invested

 $ 

Tell Me The Dividend After This Many Years
Past performance is no guarantee for the future. Investors should take into account that heavy swings in share price or exceptional circumstances (a la 2009) can have a significant impact on short term calculations and averages

Last ex-div: 15/09 - ex-div 2c (franking 100%)

HISTORICAL DATA ARE ALL IN AUD
Copyright © 2025 FactSet UK Limited. All rights reserved
Title 201920202021202220232024
EPS Basic xxxxxxxxxxxxxxx-24.3
DPS All xxxxxxxxxxxxxxx0.0
Sales/Revenue xxxxxxxxxxxxxxx557.8 M
Book Value Per Share xxxxxxxxxxxxxxx30.6
Net Operating Cash Flow xxxxxxxxxxxxxxx37.4 M
Net Profit Margin xxxxxxxxxxxxxxx-31.84 %

EPS Basic

DPS All

Sales/Revenue

Book Value Per Share

Net Operating Cash Flow

Net Profit Margin

Title 201920202021202220232024
Return on Capital Employed xxxxxxxxxxxxxxx-42.21 %
Return on Invested Capital xxxxxxxxxxxxxxx-30.14 %
Return on Assets xxxxxxxxxxxxxxx-16.09 %
Return on Equity xxxxxxxxxxxxxxx-42.21 %
Return on Total Capital xxxxxxxxxxxxxxx-16.61 %
Free Cash Flow ex dividends xxxxxxxxxxxxxxx-76.0 M

Return on Capital Employed

Return on Invested Capital

Return on Assets

Return on Equity

Return on Total Capital

Free Cash Flow ex dividends

Title 201920202021202220232024
Short-Term Debt xxxxxxxxxxxxxxx130 M
Long Term Debt xxxxxxxxxxxxxxx186 M
Total Debt xxxxxxxxxxxxxxx315 M
Goodwill - Gross xxxxxxxxxxxxxxx-
Cash & Equivalents - Generic xxxxxxxxxxxxxxx252 M
Price To Book Value xxxxxxxxxxxxxxx0.80

Short-Term Debt

Long Term Debt

Total Debt

Goodwill - Gross

Cash & Equivalents - Generic

Price To Book Value

Title 201920202021202220232024
Capex xxxxxxxxxxxxxxx116.3 M
Capex % of Sales xxxxxxxxxxxxxxx20.85 %
Cost of Goods Sold xxxxxxxxxxxxxxx581 M
Selling, General & Admin. Exp & Other xxxxxxxxxxxxxxx95 M
Research & Development xxxxxxxxxxxxxxx-
Investments - Total xxxxxxxxxxxxxxx0 M

Capex

Capex % of Sales

Cost of Goods Sold

Selling, General & Admin. Exp & Other

Research & Development

Investments - Total

EXPERT VIEWS
Display All Commentary

Sentiment Indicator

-0.5

No. Of Recommendations

4
BROKER DATE RATING RECOMMENDATION TARGET PRICE % TO REACH TARGET COMMENTARY

Macquarie

xx/xx/xxxx

3

xxxxxxxxx xx xxxxxxx xxxx xxxxxxxxxx

$xx.xx

xx.xx%

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Ord Minnett

xx/xx/xxxx

5

xxxxxxxxx xx xxxx xxxx xxxx

$xx.xx

xx.xx%

Broker commentary and detailed analysis is available for Full Members Only.
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Citi

18/07/2025

5

Sell

$0.16

-64.44%

Citi notes 29Metals has announced annualised June quarter results which are sitting at the lower end of guidance, with production expected to be weighted into 2H2025.

Golden Grove experienced another seismic event after quarter end but managed to breakeven over the period. Water at Capricorn Copper has subsided, but a restart at this stage appears unlikely, according to the analyst.

Net debt stood at $19m, with a decline in group cash of -$33m over the previous quarter, excluding final insurance funds, which are expected to bring total cash to $187m from $166m in the March quarter.

Citi continues to view further liquidity raising events as likely, given the miner's high exposure to base metals. A Sell rating is retained based on the broker's negative view on copper, which is forecast to fall below US$9k/t. The target lifts to 16c from 15c.

FORECAST
Citi forecasts a full year FY25 dividend of 0.00 cents and EPS of minus -2.00 cents.
Citi forecasts a full year FY26 dividend of 0.00 cents and EPS of minus -3.00 cents.

Morgan Stanley

xx/xx/xxxx

3

xxxxx-xxxxxx

$xx.xx

xx.xx%

Broker commentary and detailed analysis is available for Full Members Only.
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Access Stockbroker Research History >
EXTRA COVERAGE
Display All Commentary

No. Of Recommendations

2

Please note: unlike Broker Call Report, BC Extra is not updated daily. The info you see might not be the latest. FNArena does its best to update ASAP.

BROKER DATE RATING RECOMMENDATION TARGET PRICE % TO REACH TARGET COMMENTARY

Jarden

xx/xx/xxxx

4

xxxxxxxxxxx

$xx.xx

xx.xx%

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Canaccord Genuity

01/09/2025

5

Sell

$0.16

-64.44%

Canaccord Genuity notes 29Metals' 1H25 revenue, EBITDAI and net profit all beat Canaccord Genuity's forecasts. However, the broker warned one-off adjustments and insurance payout masked the outcomes.

Underlying profitability is a concern for the broker as no further support will come from insurance payout. The broker sees the combination of negative working capital (though unwound to -$39.2m from -$68m in Dec) and net debt of $16m as a risk.

Sell. Target unchanged at 16c.

FORECAST
Canaccord Genuity forecasts a full year FY25 dividend of 0.00 cents and EPS of minus -3.00 cents.
Canaccord Genuity forecasts a full year FY26 dividend of 0.00 cents and EPS of 1.00 cents.
Access Extra Coverage Research History >

29M STOCK CHART

FNArena News on 29M

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