ADRIATIC METALS PLC (ADT)
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ADT

ADT - ADRIATIC METALS PLC

FNArena Sector : Gold & Silver
Year End: December
GICS Industry Group : Materials
Debt/EBITDA: -4.77
Index: ASX300 | ALL-ORDS

LAST PRICE CHANGE +/- CHANGE % VOLUME

$5.00

12 Jun
2025

0.200

OPEN

$4.93

4.17%

HIGH

$5.05

877,408

LOW

$4.80

TARGET
$4.74 -5.2% downside
OTHER COMPANIES IN THE SAME SECTOR
A1M . AAM . AAR . ALK . AMI . ASL . AUE . BC8 . BEZ . BGL . BTR . CEL . CMM . CNB . CVV . CY5 . CYL . EMR . EVN . EVR . FFM . FFM . GMD . GOR . GPR . HGO . IGO . KCN . KGL . MAU . MEI . MEK . MM8 . MML . NEM . NST . NVA . OBM . PDI . PNR . PRU . RMS . RRL . RSG . RXL . RXR . SBM . SMI . SPR . STM . STN . SVL . TBR . TCG . TRE . TTM . USL . VAU . WAF . WGX . WIA . WMX .
FNARENA'S MARKET CONSENSUS FORECASTS
ADT: 1
Title FY23
Actual		 FY24
Actual		 FY25
Forecast		 FY26
Forecast
EPS (cps) xxx - 30.1 40.1 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 12.5 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: N/A

DIVIDEND YIELD CALCULATOR

Dividend Yield Today On Last Actual Payout :

 N/A

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
Copyright © 2025 FactSet UK Limited. All rights reserved
Title 201920202021202220232024
EPS Basic xxxxxxxxxxxxxxx-30.1
DPS All xxxxxxxxxxxxxxx0.0
Sales/Revenue xxxxxxxxxxxxxxx41.8 M
Book Value Per Share xxxxxxxxxxxxxxx58.9
Net Operating Cash Flow xxxxxxxxxxxxxxx-80.0 M
Net Profit Margin xxxxxxxxxxxxxxx-226.54 %

EPS Basic

DPS All

Sales/Revenue

Book Value Per Share

Net Operating Cash Flow

Net Profit Margin

Title 201920202021202220232024
Return on Capital Employed xxxxxxxxxxxxxxx-53.62 %
Return on Invested Capital xxxxxxxxxxxxxxx-28.16 %
Return on Assets xxxxxxxxxxxxxxx-19.06 %
Return on Equity xxxxxxxxxxxxxxx-53.62 %
Return on Total Capital xxxxxxxxxxxxxxx-15.73 %
Free Cash Flow ex dividends xxxxxxxxxxxxxxx-148.8 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 xxxxxxxxxxxxxxx135 M
Long Term Debt xxxxxxxxxxxxxxx173 M
Total Debt xxxxxxxxxxxxxxx308 M
Goodwill - Gross xxxxxxxxxxxxxxx-
Cash & Equivalents - Generic xxxxxxxxxxxxxxx33 M
Price To Book Value xxxxxxxxxxxxxxx6.62

Short-Term Debt

Long Term Debt

Total Debt

Goodwill - Gross

Cash & Equivalents - Generic

Price To Book Value

Title 201920202021202220232024
Capex xxxxxxxxxxxxxxx68.8 M
Capex % of Sales xxxxxxxxxxxxxxx164.59 %
Cost of Goods Sold xxxxxxxxxxxxxxx53 M
Selling, General & Admin. Exp & Other xxxxxxxxxxxxxxx58 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

0.0

No. Of Recommendations

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

Morgans

28/05/2025

3

Downgrade to Hold from Add

$4.74

-5.20%

Adriatic Metals confirmed takeover speculation, stating it has allowed limited due diligence to Canadian miner Dundee Precious Metals.

Morgans notes Dundee has 28 days from May 21 to either make an offer or advise it doesn't intend to proceed. The broker believes the company would be a logical acquirer due to its experience across base and precious metals projects in Eastern Europe.

The share price has rallied around 35% since the confirmation, prompting the broker to downgrade to Hold from Add.

Target price rises to $4.74 from $4.50 on the removal of Bosnia sovereign risk discount.

Transfer of coverage to Ross Bennett.

FORECAST
Morgans forecasts a full year FY25 dividend of 0.00 cents and EPS of 40.09 cents.
Morgans forecasts a full year FY26 dividend of 0.00 cents and EPS of 61.68 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

06/06/2025

3

Downgrade to Hold from Speculative Buy

$5.50

10.00%

Canaccord Genuity lowers its recommendation on Adriatic Metals to Hold from Speculative Buy, while raising the target price to $5.50 from $4.55, following a 40% rally in the share price. The uplift was driven by confirmed M&A interest from Dundee Precious Metals.

The broker views Dundee as a logical suitor given its nearby European operations, but notes there is no guarantee a formal offer will eventuate.

Adriatic’s ramp-up at the Vares silver project is progressing, note the analysts, with commercial production expected by the June quarter. FY25 earnings (EBITDA) are forecast at US$78.8m, rising to US$165.5m in FY26.

Canaccord removes prior risk discounts in light of strategic interest and expects positive free cash flow from 2025 onward,. All-in sustaining costs (AISC) are expected to fall to US$15.85/oz and US$14.14/oz in 2026 and 2027, respectively.

FORECAST
Canaccord Genuity forecasts a full year FY25 dividend of 0.00 cents and EPS of 26.21 cents.
Canaccord Genuity forecasts a full year FY26 dividend of 0.00 cents and EPS of 53.97 cents.
Access Extra Coverage Research History >

ADT STOCK CHART

FNArena News on ADT

1
In Case You Missed It – BC Extra Upgrades & Downgrades – 13-06-25

Jun 13 2025 - Weekly Reports
2
Australian Broker Call *Extra* Edition – Jun 11, 2025

Jun 11 2025 - Daily Market Reports
3
Weekly Ratings, Targets, Forecast Changes – 30-05-25

Jun 02 2025 - Weekly Reports
4
Australian Broker Call *Extra* Edition – May 06, 2025

May 06 2025 - Daily Market Reports
5
Australian Broker Call *Extra* Edition – Apr 14, 2025

Apr 14 2025 - Daily Market Reports

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