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

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29M - 29METALS LIMITED

FNArena Sector : Copper
Year End: December
GICS Industry Group : Materials
Debt/EBITDA: -15.4
Index: ALL-ORDS

LAST PRICE CHANGE +/- CHANGE % VOLUME

$0.38

22 Nov
2024

-0.010

OPEN

$0.39

-2.56%

HIGH

$0.40

751,883

LOW

$0.38

TARGET
$0.528 38.8% upside
Franking for last dividend paid out: 100%
OTHER COMPANIES IN THE SAME SECTOR
A1M . AML . AR1 . CNB . CSC . CVV . CYM . FFM . FND . HGO . LEG . MAC . MLX . NEM . NWC . SFR . STM . TTM .
FNARENA'S MARKET CONSENSUS FORECASTS
29M: 1
Title FY22
Actual		 FY23
Actual		 FY24
Forecast		 FY25
Forecast
EPS (cps) xxx - 79.9 - 12.1 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 © 2024 FactSet UK Limited. All rights reserved
Title 20192020202120222023
EPS Basic xxxxxxxxxxxx-79.9
DPS All xxxxxxxxxxxx0.0
Sales/Revenue xxxxxxxxxxxx449.3 M
Book Value Per Share xxxxxxxxxxxx60.2
Net Operating Cash Flow xxxxxxxxxxxx-57.4 M
Net Profit Margin xxxxxxxxxxxx-98.04 %

EPS Basic

DPS All

Sales/Revenue

Book Value Per Share

Net Operating Cash Flow

Net Profit Margin

Title 20192020202120222023
Return on Capital Employed xxxxxxxxxxxx-77.41 %
Return on Invested Capital xxxxxxxxxxxx-58.68 %
Return on Assets xxxxxxxxxxxx-34.90 %
Return on Equity xxxxxxxxxxxx-77.41 %
Return on Total Capital xxxxxxxxxxxx-16.97 %
Free Cash Flow ex dividends xxxxxxxxxxxx-138.0 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 20192020202120222023
Short-Term Debt xxxxxxxxxxxx120 M
Long Term Debt xxxxxxxxxxxx151 M
Total Debt xxxxxxxxxxxx271 M
Goodwill - Gross xxxxxxxxxxxx-
Cash & Equivalents - Generic xxxxxxxxxxxx162 M
Price To Book Value xxxxxxxxxxxx1.07

Short-Term Debt

Long Term Debt

Total Debt

Goodwill - Gross

Cash & Equivalents - Generic

Price To Book Value

Title 20192020202120222023
Capex xxxxxxxxxxxx84.9 M
Capex % of Sales xxxxxxxxxxxx18.91 %
Cost of Goods Sold xxxxxxxxxxxx548 M
Selling, General & Admin. Exp & Other xxxxxxxxxxxx43 M
Research & Development xxxxxxxxxxxx-
Investments - Total xxxxxxxxxxxx0 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

0.3

No. Of Recommendations

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

Morgan Stanley

xx/xx/xxxx

3

xxxxxxxxx xx xxxxx-xxxxxx xxxx xxxxxxxxxx

$xx.xx

xx.xx%

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

xx/xx/xxxx

1

xxxxxxxxxxx xxx

$xx.xx

xx.xx%

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

24/10/2024

3

Neutral

$0.46

21.05%

29Metals reported 3Q2024 copper production which was lower than Macquarie's expectations in contrast to zinc which was better than forecast.

Operating costs at Golden Grove came in above estimates by 2.4% from stockpile movements. Management retained 2024 guidance, although zinc could be challenged to meet forecasts, the broker highlights.

The broker raises EPS forecasts between 2% to 6% for FY24 to FY26 earnings. The balance sheet remains at risk, Macquarie emphasises.

29Metals is Neutral rated. Target price lifts 21% to 46c.

FORECAST
Macquarie forecasts a full year FY24 dividend of 0.00 cents and EPS of minus -14.30 cents.
Macquarie forecasts a full year FY25 dividend of 0.00 cents and EPS of minus -1.80 cents.

Citi

xx/xx/xxxx

3

xxxxxxx, xxxx xxxx

$xx.xx

xx.xx%

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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

17/10/2024

5

Sell

$0.35

-7.89%

Canaccord Genuity reviews fundamentals for base metals and electric vehicle materials and updates forecasts for relevant stocks under research coverage.

The broker increases its near-term nickel and zinc price forecasts to US$7.71/lb and US$1.25/lb, respectively, and lowers the near-term cobalt price to US$12.50/lb, and to US$13.61/lb for both 2025 and 2026.

The near-term lithium price forecasts for spodumene and chemicals fall by -9% and -14%, respectively.

For 29Metals, the target rises to 35c from 32c on higher zinc pricing and model adjustments, explains the broker. Sell.

FORECAST
Canaccord Genuity forecasts a full year FY24 dividend of 0.00 cents.
Canaccord Genuity forecasts a full year FY25 dividend of 0.00 cents.
Access Extra Coverage Research History >

29M STOCK CHART

FNArena News on 29M

1
Australian Broker Call *Extra* Edition – Oct 28, 2024

Oct 28 2024 - Daily Market Reports
2
Weekly Ratings, Targets, Forecast Changes – 25-10-24

Oct 28 2024 - Weekly Reports
3
Australian Broker Call *Extra* Edition – Oct 17, 2024

Oct 17 2024 - Daily Market Reports
4
Australian Broker Call *Extra* Edition – Sep 04, 2024

Sep 04 2024 - Daily Market Reports
5
FNArena Corporate Results Monitor – 28-08-2024

Aug 28 2024 - Australia

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