METALS X LIMITED (MLX)
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MLX

MLX - METALS X LIMITED

FNArena Sector : Tin
Year End: December
GICS Industry Group : Materials
Debt/EBITDA: 0.02
Index: ASX300 | ALL-ORDS

LAST PRICE CHANGE +/- CHANGE % VOLUME

$1.385

30 Apr
2026

-0.030

OPEN

$1.44

-2.12%

HIGH

$1.44

1,925,248

LOW

$1.36

TARGET
$1.60 15.5% upside
Franking for last dividend paid out: 26%
FNARENA'S MARKET CONSENSUS FORECASTS
MLX: 1
Title FY24
Actual		 FY25
Actual		 FY26
Forecast		 FY27
Forecast
EPS (cps) xxx 11.8 16.7 xxx
DPS (cps) xxx 0.0 N/A xxx
EPS Growth xxx 4.1% 41.5% xxx
DPS Growth xxx N/A N/A xxx
PE Ratio xxx N/A 8.1 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
HISTORICAL DATA ARE ALL IN AUD
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Title 202020212022202320242025
EPS Basic xxxxxxxxxxxxxxx11.8
DPS All xxxxxxxxxxxxxxx0.0
Sales/Revenue xxxxxxxxxxxxxxx285.0 M
Book Value Per Share xxxxxxxxxxxxxxx60.1
Net Operating Cash Flow xxxxxxxxxxxxxxx128.3 M
Net Profit Margin xxxxxxxxxxxxxxx36.70 %

EPS Basic

DPS All

Sales/Revenue

Book Value Per Share

Net Operating Cash Flow

Net Profit Margin

Title 202020212022202320242025
Return on Capital Employed xxxxxxxxxxxxxxx21.79 %
Return on Invested Capital xxxxxxxxxxxxxxx21.72 %
Return on Assets xxxxxxxxxxxxxxx18.24 %
Return on Equity xxxxxxxxxxxxxxx21.79 %
Return on Total Capital xxxxxxxxxxxxxxx25.07 %
Free Cash Flow ex dividends xxxxxxxxxxxxxxx92.4 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 202020212022202320242025
Short-Term Debt xxxxxxxxxxxxxxx3 M
Long Term Debt xxxxxxxxxxxxxxx0 M
Total Debt xxxxxxxxxxxxxxx3 M
Goodwill - Gross xxxxxxxxxxxxxxx-
Cash & Equivalents - Generic xxxxxxxxxxxxxxx294 M
Price To Book Value xxxxxxxxxxxxxxx1.86

Short-Term Debt

Long Term Debt

Total Debt

Goodwill - Gross

Cash & Equivalents - Generic

Price To Book Value

Title 202020212022202320242025
Capex xxxxxxxxxxxxxxx37.3 M
Capex % of Sales xxxxxxxxxxxxxxx13.10 %
Cost of Goods Sold xxxxxxxxxxxxxxx159 M
Selling, General & Admin. Exp & Other xxxxxxxxxxxxxxx4 M
Research & Development xxxxxxxxxxxxxxx-
Investments - Total xxxxxxxxxxxxxxx23 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

1.0

No. Of Recommendations

1
BROKER DATE RATING RECOMMENDATION TARGET PRICE % TO REACH TARGET COMMENTARY

Ord Minnett

01/05/2026

1

Buy

$1.60

15.52%

Ord Minnett hails the March quarter report on the Renison mine from Metals X as "excellent", as strong production was delivered into a record tin price. Even more cash was accrued compared with the December quarter record, as tin prices were at almost $70/kg for the full three months.

While the mine is 60 years old, and there is elevated expenditure required for renewal, Ord Minnett notes it has still managed to deliver.

The broker also notes the Heemskirk project, around 15km from Renison, has evident synergies. Buy and $1.60 target retained.

FORECAST
Ord Minnett forecasts a full year FY26 EPS of 16.70 cents.
Ord Minnett forecasts a full year FY27 EPS of 7.90 cents.
Access Stockbroker Research History >
EXTRA COVERAGE
Display All Commentary

No. Of Recommendations

1

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

Canaccord Genuity

10/03/2026

1

Buy

$1.50

8.30%

Canaccord Genuity found the full year result from Metals X largely in line with expectations. The company has entered the year with a cash position of $294m and no debt. The focus remains on growth and therefore no dividends were declared.

The broker increases its tin price forecast for 2026-27 to US$50,000/t with the target raised to $1.50 from $1.35.

Continued pressure on the market is anticipated and the stock is considered a defensive play while leveraged to the strength in tin pricing. Buy rating unchanged.

FORECAST
Canaccord Genuity forecasts a full year FY26 dividend of 0.00 cents and EPS of 15.00 cents.
Canaccord Genuity forecasts a full year FY27 dividend of 0.00 cents and EPS of 15.00 cents.
Access Extra Coverage Research History >

MLX STOCK CHART

FNArena News on MLX

Latest Tin News

1
MetalsX: Opportunity Awaits

Feb 08 2022 - Technicals
2
Metals X Raising Tin Profile

Jul 05 2017 - Small Caps