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

$0.43

05 Dec
2025

0.030

OPEN

$0.40

7.50%

HIGH

$0.44

4,945,771

LOW

$0.39

TARGET
$0.353

+0.06 change from previous day

 -17.8% downside
Franking for last dividend paid out: 100%
OTHER COMPANIES IN THE SAME SECTOR
A1M . AR1 . CNB . CSC . CVV . CY5 . CYM . FFM . HGO . LEG . 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 - 1.7 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 N/A 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

-0.2

No. Of Recommendations

3
BROKER DATE RATING RECOMMENDATION TARGET PRICE % TO REACH TARGET COMMENTARY

Macquarie

xx/xx/xxxx

1

xxxxxxx xx xxxxxxxxxx xxxx xxxxxxx

$xx.xx

xx.xx%

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Ord Minnett

16/10/2025

4

Lighten

$0.35

-18.60%

29Metals announced a weak September quarter update, according to Ord Minnett, with seismic activity at the Xantho extended zone affecting production. This resulted in a downgrade to 2025 guidance across all metals except copper.

Zinc production was notably impacted and came in below the analyst's expectations by -87%. The downgrades are estimated to take away around -$60m in forecast free cash flow across 2H2025 and 2026.

The problem is an ongoing series of issues that has impacted the miner over the last three years, resulting in equity raisings of $318m from 2023/2024. The outlook for 2026 is considered equally uncertain.

The broker lowers its earnings (EBITDA) forecasts by -20% and -30% for 2025 and 2026, respectively. Target price is lowered to 35c from 40c, with no change to Lighten rating.

Citi

xx/xx/xxxx

5

xxxx

$xx.xx

xx.xx%

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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

15/10/2025

5

Sell

$0.25

-41.86%

29Metals reported its September quarter production, which was a sizeable miss on by-product output for zinc, gold and silver due to seismic activity at Xantho.

The miner has guided to lower zinc production to 35-40kt from 60-70kt, Canaccord Genuity notes, with flat copper production for the quarter, while the miss on by-products resulted in C1 costs rising 79% on the prior quarter.

Cash declined by -18% over the quarter, and ongoing cash burn without further insurance payouts has the analyst concerned over the balance sheet and the ability to continue funding growth at Gossan Valley.

Target price falls to 25c from 30c, with no change in Sell rating.

FORECAST
Canaccord Genuity forecasts a full year FY25 dividend of 0.00 cents and EPS of minus -6.00 cents.
Canaccord Genuity forecasts a full year FY26 dividend of 0.00 cents and EPS of 2.00 cents.
Access Extra Coverage Research History >

29M STOCK CHART

FNArena News on 29M

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