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

$0.22

16 Jan
2025

0.005

OPEN

$0.22

2.33%

HIGH

$0.22

1,640,474

LOW

$0.22

TARGET
$0.287

-0.01 change from previous day

 30.3% 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 - 71.0 - 10.4 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 © 2025 FactSet UK Limited. All rights reserved
Title 20192020202120222023
EPS Basic xxxxxxxxxxxx-71.0
DPS All xxxxxxxxxxxx0.0
Sales/Revenue xxxxxxxxxxxx449.3 M
Book Value Per Share xxxxxxxxxxxx53.5
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

3
BROKER DATE RATING RECOMMENDATION TARGET PRICE % TO REACH TARGET COMMENTARY

Ord Minnett

xx/xx/xxxx

3

xxxx

$xx.xx

xx.xx%

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Morgan Stanley

xx/xx/xxxx

3

xxxxx-xxxxxx

$xx.xx

xx.xx%

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Citi

12/12/2024

5

Sell

$0.25

13.64%

Citi raises target prices across its coverage of the A&NZ Metals and Mining sector, driven by weaker Australian dollar forecasts.

Earnings forecasts for base metal stocks are lowered due to base metals price revisions, despite currency tailwinds, while coal and iron ore pure plays have seen earnings benefit from the currency changes, according to the analysts.

The broker sees the greatest 12-month upside in uranium and NdPr and the greatest downside in alumina and Brent oil from current prices. Citi remains neutral on bulk pricing due to likely demand softness.

The target for 29Metals remains unchanged at 25c. Citi retains a Sell rating.

FORECAST
Citi forecasts a full year FY24 dividend of 0.00 cents and EPS of minus -9.00 cents.
Citi forecasts a full year FY25 dividend of 0.00 cents and EPS of minus -1.00 cents.

Macquarie

xx/xx/xxxx

-1

xx xxxxxx

xx.xx%

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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

Canaccord Genuity

xx/xx/xxxx

5

xxxx

$xx.xx

xx.xx%

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Jarden

28/10/2024

4

Underweight

$0.30

36.36%

Jarden highlights 29Metals continues to experience significant cash burn, with -$26m consumed during 3Q24. Despite favourable base metal prices, the company's cash balance dropped to $60m by the end of September, with net debt rising to $147m.

The company is forecasted to have a cash balance of just $30m by the end of 2024, necessitating a liquidity event of $60m to maintain its going-concern status.

Golden Grove generated positive free cash flow ($26m), but Jarden points out the overall production was offset by disappointing developments at Xantho Extended.

The broker has downgraded EBITDA forecasts by -64% for 2024 due to slower XE ramp-up and increased costs. The price target is reduced to $0.30 from $0.33, with an Underweight rating maintained.

FORECAST
Jarden forecasts a full year FY24 dividend of 0.00 cents and EPS of minus -12.70 cents.
Jarden forecasts a full year FY25 dividend of 0.00 cents and EPS of minus -0.60 cents.
Access Extra Coverage Research History >

29M STOCK CHART

FNArena News on 29M

1
Australian Broker Call *Extra* Edition – Jan 16, 2025

Jan 16 2025 - Daily Market Reports
2
Weekly Ratings, Targets, Forecast Changes – 06-12-24

Dec 09 2024 - Weekly Reports
3
Australian Broker Call *Extra* Edition – Oct 28, 2024

Oct 28 2024 - Daily Market Reports
4
Weekly Ratings, Targets, Forecast Changes – 25-10-24

Oct 28 2024 - Weekly Reports
5
Australian Broker Call *Extra* Edition – Oct 17, 2024

Oct 17 2024 - Daily Market Reports

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