METRO MINING LIMITED (MMI)
Share Price Analysis and Chart

09/09/2025

1

Buy

$0.17

88.89%

Metro Mining shipped 735kt of bauxite in August, some 6% above the same period last year, meaning the producer is on track to ship around 2.2Mt in the September quarter, Shaw and Partners observes, which will be a record.

Adverse weather impacted at the start of August, which resulted in a miss on target by -80kt, although management has retained 2025 guidance at 6.5-7.0wmt.

The analyst has lowered the forecast to 6.3wmt to err on the conservative side, but this does not detract from the view Metro Mining can achieve earnings (EBITDA) of around $140m in 2025, and rising to over $200m, estimated in 2026.

The stock remains one of the broker's top picks. Buy, High Risk. Target unchanged at 17c.

FORECAST
Shaw and Partners forecasts a full year FY25 dividend of 1.00 cents and EPS of 3.60 cents.
Shaw and Partners forecasts a full year FY26 dividend of 2.00 cents and EPS of 3.20 cents.

11/09/2025

1

Buy

$0.10

11.11%

Metro Mining shipped 735kt of bauxite in August, a rise of 6% on the prior period, which came in below Petra Capital's forecast by -6% due to weather impacts at the beginning of the month.

Positively, the barge loading facility operated at a record rate of 1,700t per hour, the analyst highlights, while management reiterated 2025 guidance at 6.5mt-7mt.

Petra Capital has lowered its 2025 production forecast by -1% to 6.2mt. Buy rating retained. Target slips to 10c from 10.2c.

FORECAST
Petra Capital forecasts a full year FY25 dividend of 0.00 cents and EPS of 1.10 cents.
Petra Capital forecasts a full year FY26 dividend of 0.80 cents and EPS of 1.50 cents.