FENIX RESOURCES LIMITED (FEX)
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FEX - FENIX RESOURCES LIMITED

FNArena Sector : Iron Ore

Year End: June

GICS Industry Group : Materials

Debt/EBITDA: 0.57

Index: ALL-ORDS

LAST PRICE	CHANGE +/-	CHANGE %	VOLUME
$0.275 04 Apr 2025	-0.010 OPEN $0.28	-3.51% HIGH $0.28	2,172,758 LOW $0.27

TARGET

$0.41

49.1% upside

OTHER COMPANIES IN THE SAME SECTOR
ARI . BCI . CIA . DRR . FMG . GEN . GRR . MGX . MIN .

FNARENA'S MARKET CONSENSUS FORECASTS

Title	FY23 Actual	FY24 Actual	FY25 Forecast	FY26 Forecast
EPS (cps)	xxx	4.9	3.6	xxx
DPS (cps)	xxx	0.0	1.0	xxx
EPS Growth	xxx	- 4.7%	- 26.1%	xxx
DPS Growth	xxx	N/A	N/A	xxx
PE Ratio	xxx	N/A	7.6	xxx
Dividend Yield	xxx	N/A	3.6%	xxx
Div Pay Ratio(%)	xxx	N/A	27.8%	xxx

Dividend yield today if purchased 3 years ago: N/A

DIVIDEND YIELD CALCULATOR

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

Copyright © 2025 FactSet UK Limited. All rights reserved

Title	2019	2020	2021	2022	2023	2024
EPS Basic	xxx	xxx	xxx	xxx	xxx	4.9
DPS All	xxx	xxx	xxx	xxx	xxx	0.0
Sales/Revenue	xxx	xxx	xxx	xxx	xxx	259.2 M
Book Value Per Share	xxx	xxx	xxx	xxx	xxx	23.9
Net Operating Cash Flow	xxx	xxx	xxx	xxx	xxx	68.5 M
Net Profit Margin	xxx	xxx	xxx	xxx	xxx	12.98 %

EPS Basic

Negative
Growth
Slowing

DPS All

Negative
Growth
Slowing

Sales/Revenue

Negative
Growth
Slowing

Book Value Per Share

Negative
Growth
Slowing

Net Operating Cash Flow

Negative
Growth
Slowing

Net Profit Margin

Negative
Growth
Slowing

Title	2019	2020	2021	2022	2023	2024
Return on Capital Employed	xxx	xxx	xxx	xxx	xxx	23.10 %
Return on Invested Capital	xxx	xxx	xxx	xxx	xxx	20.24 %
Return on Assets	xxx	xxx	xxx	xxx	xxx	14.61 %
Return on Equity	xxx	xxx	xxx	xxx	xxx	23.10 %
Return on Total Capital	xxx	xxx	xxx	xxx	xxx	27.85 %
Free Cash Flow ex dividends	xxx	xxx	xxx	xxx	xxx	34.6 M

Return on Capital Employed

Negative
Growth
Slowing

Return on Invested Capital

Negative
Growth
Slowing

Return on Assets

Negative
Growth
Slowing

Return on Equity

Negative
Growth
Slowing

Return on Total Capital

Negative
Growth
Slowing

Free Cash Flow ex dividends

Negative
Growth
Slowing

Title	2019	2020	2021	2022	2023	2024
Short-Term Debt	xxx	xxx	xxx	xxx	xxx	13 M
Long Term Debt	xxx	xxx	xxx	xxx	xxx	29 M
Total Debt	xxx	xxx	xxx	xxx	xxx	42 M
Goodwill - Gross	xxx	xxx	xxx	xxx	xxx	11 M
Cash & Equivalents - Generic	xxx	xxx	xxx	xxx	xxx	77 M
Price To Book Value	xxx	xxx	xxx	xxx	xxx	1.32

Short-Term Debt

Negative
Growth
Slowing

Long Term Debt

Negative
Growth
Slowing

Total Debt

Negative
Growth
Slowing

Goodwill - Gross

Negative
Growth
Slowing

Cash & Equivalents - Generic

Negative
Growth
Slowing

Price To Book Value

Negative
Growth
Slowing

Title	2019	2020	2021	2022	2023	2024
Capex	xxx	xxx	xxx	xxx	xxx	26.2 M
Capex % of Sales	xxx	xxx	xxx	xxx	xxx	10.13 %
Cost of Goods Sold	xxx	xxx	xxx	xxx	xxx	199 M
Selling, General & Admin. Exp & Other	xxx	xxx	xxx	xxx	xxx	10 M
Research & Development	xxx	xxx	xxx	xxx	xxx	-
Investments - Total	xxx	xxx	xxx	xxx	xxx	0 M

Capex

Negative
Growth
Slowing

Capex % of Sales

Negative
Growth
Slowing

Cost of Goods Sold

Negative
Growth
Slowing

Selling, General & Admin. Exp & Other

Negative
Growth
Slowing

Research & Development

Investments - Total

Negative
Growth
Slowing

Negative

Growth

Slowing

EXPERT VIEWS
EXTRA COVERAGE

EXPERT VIEWS

Display All Commentary

Sentiment Indicator

1.0

No. Of Recommendations

BROKER	DATE	RATING	RECOMMENDATION	TARGET PRICE	% TO REACH TARGET	COMMENTARY
Bell Potter	26/02/2025	1	Buy	$0.41	49.09%	Fenix Resources reported 1H25 underlying earnings of $20m compared to Bell Potter's $23m forecast due to lower than forecast iron ore revenue. No dividend was declared as Fenix Resources considers dividends on an annual basis (ie at the full year result) with respect to group funding requirements. Fenix and CZR Resources ((CZR)) have entered a binding off market takeover agreement. Fenix will continue to grow its portfolio of low-capital mining assets and leverage its integrated logistics networks to underpin robust cash flows, Bell Potter notes, funding further growth expenditure requirements and shareholder returns. Buy and 41c target retained. FORECAST Bell Potter forecasts a full year FY25 dividend of 1.00 cents and EPS of 3.60 cents. Bell Potter forecasts a full year FY26 dividend of 1.40 cents and EPS of 9.40 cents.

BROKER

DATE

RATING

RECOMMENDATION

TARGET PRICE

% TO REACH TARGET

COMMENTARY

Bell Potter

26/02/2025

Buy

$0.41

49.09%

Fenix Resources reported 1H25 underlying earnings of $20m compared to Bell Potter's $23m forecast due to lower than forecast iron ore revenue.

No dividend was declared as Fenix Resources considers dividends on an annual basis (ie at the full year result) with respect to group funding requirements. Fenix and CZR Resources ((CZR)) have entered a binding off market takeover agreement.

Fenix will continue to grow its portfolio of low-capital mining assets and leverage its integrated logistics networks to underpin robust cash flows, Bell Potter notes, funding further growth expenditure requirements and shareholder returns.

Buy and 41c target retained.

FORECAST
Bell Potter forecasts a full year FY25 dividend of 1.00 cents and EPS of 3.60 cents.
Bell Potter forecasts a full year FY26 dividend of 1.40 cents and EPS of 9.40 cents.

Access Stockbroker Research History >

EXTRA COVERAGE

Display All Commentary

No. Of Recommendations

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
Petra Capital	12/03/2025	1	Buy	$0.39	41.82%	Petra Capital notes Fenix Resources' acquisition of CZR Resources ((CZR)) will create a large-scale iron ore mining and logistics business in the mid-West and Pilbara regions of WA. The broker observes Fenix will bring in operational experience and balance sheet strength, and CZR a significant asset base and a development-ready project. Commentary highlights the key benefit is an uplift in group margins along with an addition of 3.5-5Mtpa to Fenix's iron ore production. Ahead of the deal completion, the broker cut the target price cut to 39c from 40c, and retained its Buy rating. After incorporating the acquisition, the broker estimates the diluted target price to rise to 49c. FORECAST Petra Capital forecasts a full year FY25 dividend of 0.00 cents and EPS of 2.50 cents. Petra Capital forecasts a full year FY26 dividend of 1.30 cents and EPS of 4.70 cents.

BROKER

DATE

RATING

RECOMMENDATION

TARGET PRICE

% TO REACH TARGET

COMMENTARY

Petra Capital

12/03/2025

Buy

$0.39

41.82%

Petra Capital notes Fenix Resources' acquisition of CZR Resources ((CZR)) will create a large-scale iron ore mining and logistics business in the mid-West and Pilbara regions of WA.

The broker observes Fenix will bring in operational experience and balance sheet strength, and CZR a significant asset base and a development-ready project.

Commentary highlights the key benefit is an uplift in group margins along with an addition of 3.5-5Mtpa to Fenix's iron ore production.

Ahead of the deal completion, the broker cut the target price cut to 39c from 40c, and retained its Buy rating. After incorporating the acquisition, the broker estimates the diluted target price to rise to 49c.

FORECAST
Petra Capital forecasts a full year FY25 dividend of 0.00 cents and EPS of 2.50 cents.
Petra Capital forecasts a full year FY26 dividend of 1.30 cents and EPS of 4.70 cents.

Access Extra Coverage Research History >

FEX STOCK CHART

FNArena News on FEX

1	Australian Broker Call Extra Edition – Mar 12, 2025 Mar 12 2025 - Daily Market Reports

2	FNArena Corporate Results Monitor – 26-02-2025 Feb 26 2025 - Australia

3	Rudi’s View: Best Ideas & Conviction Calls Feb 20 2025 - Rudi's View

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5	Rudi’s View: Cochlear, Guzman y Gomez, SiteMinder, Wesfarmers & Xero Jan 30 2025 - Rudi's View

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8	ESG Focus: The Little Big Things – 15-05-2024 May 15 2024 - ESG Focus

9	Fortescue: Ready To Rally Mar 26 2024 - Technicals

10	ESG Focus: Grid Set To Enter An Iron Age Sep 21 2023 - ESG Focus

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Amount Invested	$
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FENIX RESOURCES LIMITED (FEX)
Share Price Analysis and Chart