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

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29M

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

$0.185

20 Feb
2025

0.000

OPEN

$0.19

0.000

HIGH

$0.19

3,007,478

LOW

$0.18

TARGET
$0.263 41.9% 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 - 8.8 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

0.0

No. Of Recommendations

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

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

xx/xx/xxxx

1

xxxxxxxxxx

$xx.xx

xx.xx%

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Citi

30/01/2025

5

Sell

$0.20

8.11%

Citi considers 29Metals' December quarter activities report, noting corporate costs and debt servicing ate into the double-digit growth in cash post capex for Golden Grove.

At quarter end, cash was $252m post a $172m raising, with no new information offered. The broker highlights corporate costs, transport, and treatment charges are all higher than anticipated in 2025 guidance, offset by improved metal production guidance.

Accounting for the update, Citi lifts the 2024 EPS estimate by 24.4% but drops the 2025 EPS forecast by -188.2%.

Sell/High Risk rating remains. Target price falls to 20c from 25c due to the changes in the 2025 earnings outlook.

FORECAST
Citi forecasts a full year FY24 dividend of 0.00 cents and EPS of minus -6.90 cents.
Citi forecasts a full year FY25 dividend of 0.00 cents and EPS of minus -4.20 cents.

Ord Minnett

xx/xx/xxxx

3

xxxx

$xx.xx

xx.xx%

Broker commentary and detailed analysis is available for Full Members Only.
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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

03/02/2025

2

Overweight

$0.32

72.97%

Jarden notes 29Metals achieved all FY24 guidance metrics and issued 2025 guidance consistent with its expectations. The highlight was another quarter of free cash flow from the Golden Grove mine, with $18m exceeding the broker's forecast of $5m. 

Unit cost of US$1.81/lb was 11% above Jarden's US$1.63/lb estimates, however, with lower-than-forecast sustaining capital, the AISC of US$3.31/lb was only marginally higher than the broker's US$3.26/lb

The broker's valuation is based on long-term price forecasts of US$4.50/lb for copper and US$1.30/lb for zinc. 

The only material change made to the valuation was to include the corporate charge allocated to Golden Grove at the asset level, with the offset being a reduction in corporate costs by the same amount.

Overweight rating with 32c target price.

FORECAST
Jarden forecasts a full year FY24 dividend of 0.00 cents and EPS of minus -8.40 cents.
Jarden forecasts a full year FY25 dividend of 0.00 cents and EPS of 0.60 cents.
Access Extra Coverage Research History >

29M STOCK CHART

FNArena News on 29M

1
In Case You Missed It – BC Extra Upgrades & Downgrades – 07-02-25

Feb 07 2025 - Weekly Reports
2
Australian Broker Call *Extra* Edition – Feb 06, 2025

Feb 06 2025 - Daily Market Reports
3
Australian Broker Call *Extra* Edition – Feb 03, 2025

Feb 03 2025 - Daily Market Reports
4
Australian Broker Call *Extra* Edition – Jan 16, 2025

Jan 16 2025 - Daily Market Reports
5
Weekly Ratings, Targets, Forecast Changes – 06-12-24

Dec 09 2024 - Weekly Reports

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