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

Enter the company code or Name for stock analysis:

29M

29M - 29METALS LIMITED

FNArena Sector : Copper
Year End: December
GICS Industry Group : Materials
Debt/EBITDA: 20.69
Index: ALL-ORDS

LAST PRICE CHANGE +/- CHANGE % VOLUME

$0.125

05 May
2025

0.005

OPEN

$0.12

4.17%

HIGH

$0.13

1,682,394

LOW

$0.12

TARGET
$0.213 70.0% upside
Franking for last dividend paid out: 100%
OTHER COMPANIES IN THE SAME SECTOR
A1M . AML . AR1 . CNB . CSC . CVV . CY5 . CYM . FFM . FND . HGO . LEG . MAC . MLX . MM8 . NEM . NWC . SFR . STM . TTM .
FNARENA'S MARKET CONSENSUS FORECASTS
29M: 1
Title FY23
Actual		 FY24
Actual		 FY25
Forecast		 FY26
Forecast
EPS (cps) xxx - 24.3 - 0.1 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 © 2025 FactSet UK Limited. All rights reserved
Title 201920202021202220232024
EPS Basic xxxxxxxxxxxxxxx-24.3
DPS All xxxxxxxxxxxxxxx0.0
Sales/Revenue xxxxxxxxxxxxxxx557.8 M
Book Value Per Share xxxxxxxxxxxxxxx30.6
Net Operating Cash Flow xxxxxxxxxxxxxxx37.4 M
Net Profit Margin xxxxxxxxxxxxxxx-31.84 %

EPS Basic

DPS All

Sales/Revenue

Book Value Per Share

Net Operating Cash Flow

Net Profit Margin

Title 201920202021202220232024
Return on Capital Employed xxxxxxxxxxxxxxx-42.21 %
Return on Invested Capital xxxxxxxxxxxxxxx-30.14 %
Return on Assets xxxxxxxxxxxxxxx-16.09 %
Return on Equity xxxxxxxxxxxxxxx-42.21 %
Return on Total Capital xxxxxxxxxxxxxxx-16.61 %
Free Cash Flow ex dividends xxxxxxxxxxxxxxx-76.0 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 201920202021202220232024
Short-Term Debt xxxxxxxxxxxxxxx130 M
Long Term Debt xxxxxxxxxxxxxxx186 M
Total Debt xxxxxxxxxxxxxxx315 M
Goodwill - Gross xxxxxxxxxxxxxxx-
Cash & Equivalents - Generic xxxxxxxxxxxxxxx252 M
Price To Book Value xxxxxxxxxxxxxxx0.80

Short-Term Debt

Long Term Debt

Total Debt

Goodwill - Gross

Cash & Equivalents - Generic

Price To Book Value

Title 201920202021202220232024
Capex xxxxxxxxxxxxxxx116.3 M
Capex % of Sales xxxxxxxxxxxxxxx20.85 %
Cost of Goods Sold xxxxxxxxxxxxxxx581 M
Selling, General & Admin. Exp & Other xxxxxxxxxxxxxxx95 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

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

Citi

xx/xx/xxxx

5

xxxx

$xx.xx

xx.xx%

Broker commentary and detailed analysis is available for Full Members Only.
Login above or Get a Free Trial

Morgan Stanley

xx/xx/xxxx

3

xxxxx-xxxxxx

$xx.xx

xx.xx%

Broker commentary and detailed analysis is available for Full Members Only.
Login above or Get a Free Trial

Macquarie

30/04/2025

1

Outperform

$0.30

140.00%

29Metals reported 1Q 2025 copper and gold production, which came in below consensus by -26% and -9%, respectively, Macquarie notes, with silver in line and zinc some 6% above the market consensus.

Operating costs of $94.2m were below the broker's forecast by -23% due to run-of-mine stock build, which was a credit to the costs, the analyst explains.

Capricorn water inventory declined by -0.3GL, which positively reduced the surface water level inventory below the maximum operating water level threshold, Macquarie states.

The analyst lowers the 2025 EPS estimate by -6%. Target price of 30c and Outperform rating maintained.

FORECAST
Macquarie forecasts a full year FY25 dividend of 0.00 cents and EPS of 1.50 cents.
Macquarie forecasts a full year FY26 dividend of 0.00 cents and EPS of minus -0.30 cents.

Ord Minnett

xx/xx/xxxx

3

xxxx

$xx.xx

xx.xx%

Broker commentary and detailed analysis is available for Full Members Only.
Login above or Get a Free Trial
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

Canaccord Genuity

xx/xx/xxxx

5

xxxx

$xx.xx

xx.xx%

Broker commentary and detailed analysis is available for Full Members Only.
Login above or Get a Free Trial

Jarden

01/05/2025

2

Overweight

$0.32

156.00%

29Metals reported March quarter copper production of 4.1kt, below Jarden's forecast by -23%, due to lower throughput and grade at Golden Grove.

Zinc production of 17kt exceeded the analyst's expectations and revenue of $142m missed consensus by -24%. Jarden notes the Capricorn Copper insurance payout of $54m expected in the June quarter as a positive, reducing net debt to  around $2m.

Operational disruptions at Xantho Extended, including mechanical and seismic issues, led to a revised mine schedule substituting 100kt of higher-grade ore with lower-grade material, increasing risk of future guidance downgrades.

Cash fell by -$86m to $166m, while net debt rose to $57m. Jarden lowers FY25 earnings (EBITDA) by –17%.

Target price unchanged at $0.32. Overweight rating retained.

FORECAST
Jarden forecasts a full year FY25 dividend of 0.00 cents and EPS of minus -1.40 cents.
Jarden forecasts a full year FY26 dividend of 0.00 cents and EPS of minus -0.20 cents.
Access Extra Coverage Research History >

29M STOCK CHART

FNArena News on 29M

1
Australian Broker Call *Extra* Edition – May 01, 2025

May 01 2025 - Daily Market Reports
2
Australian Broker Call *Extra* Edition – Apr 20, 2025

Apr 22 2025 - Daily Market Reports
3
Australian Broker Call *Extra* Edition – Mar 05, 2025

Mar 05 2025 - Daily Market Reports
4
FNArena Corporate Results Monitor – 27-02-2025

Feb 27 2025 - Australia
5
In Case You Missed It – BC Extra Upgrades & Downgrades – 07-02-25

Feb 07 2025 - Weekly Reports

Latest Copper News

1
Capstone Copper At Inflection Point

Nov 26 2024 - Commodities
2
Sandfire’s Inverse-Head-And-Shoulders

Sep 24 2024 - Technicals
3
Listen To What Dr. Copper Has To Say

Jun 06 2024 - Technicals
4
Copper: Due A Breather

Apr 17 2024 - Technicals
5
Preparing For Copper Price Upside

Mar 26 2024 - Commodities
6
Copper: Stay Out For Now

Aug 24 2023 - Technicals
7
Copper: It’s Now Or Never

Jun 22 2023 - Technicals
8
Copper Super Cycle Temporarily On Halt

Sep 09 2022 - Commodities
9
Global Net Zero Target Faces Copper Shortage

Aug 24 2022 - Commodities
10
Copper: Buyers Required

Jun 29 2022 - Technicals