29METALS LIMITED (29M)
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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

$0.115

15 Apr
2025

-0.005

OPEN

$0.13

-4.17%

HIGH

$0.13

2,687,383

LOW

$0.12

TARGET
$0.223 93.5% 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 1.6 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 7.5 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: 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

Morgan Stanley

xx/xx/xxxx

3

xxxxx-xxxxxx

$xx.xx

xx.xx%

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Ord Minnett

xx/xx/xxxx

3

xxxx

$xx.xx

xx.xx%

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Citi

28/02/2025

5

Sell

$0.16

39.13%

29Metals reported a cleaner 2H 2024 result following 1H impairments, with 2024 EBITDA of $58.5m beating Citi’s $41m estimate on lower COGS.

The broker highlights Cap Copper recovery and suspension costs of -$80m, guided to decline to -$30-40m in 2025. Golden Grove resources fell slightly due to limited exploration spending, which is expected to increase in 2025.

Citi adjusts 2025-2027 EBITDA forecasts by a margin of minus/plus 3% due to grade revisions at Golden Grove and rolls forward its NAV. Net debt is expected to rise

Sell/High Risk rating remains. Target price falls to 16c from 20c.

Macquarie

xx/xx/xxxx

1

xxxxxxxxxx

$xx.xx

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

05/03/2025

2

Overweight

$0.32

178.26%

29Metals delivered a statutory 2024 loss of -$178m, reflecting the financial impact for a second year in a row of the extreme weather event at Capricorn Copper in March 2023.

The result was weaker than Jarden expected, with the variance largely driven by impairments and recovery costs.

The broker considers most of the imputs to the loss non-recurring and believes 2025 will reveal an improved financial performance, remaining bullish on the fundamentals of the copper and zinc markets. Overweight. Target is $0.32.

FORECAST
Jarden forecasts a full year FY25 dividend of 0.00 cents and EPS of minus -0.30 cents.
Jarden forecasts a full year FY26 dividend of 0.00 cents and EPS of minus -0.40 cents.
Access Extra Coverage Research History >

29M STOCK CHART

FNArena News on 29M

1
Australian Broker Call *Extra* Edition – Mar 05, 2025

Mar 05 2025 - Daily Market Reports
2
FNArena Corporate Results Monitor – 27-02-2025

Feb 27 2025 - Australia
3
In Case You Missed It – BC Extra Upgrades & Downgrades – 07-02-25

Feb 07 2025 - Weekly Reports
4
Australian Broker Call *Extra* Edition – Feb 06, 2025

Feb 06 2025 - Daily Market Reports
5
Australian Broker Call *Extra* Edition – Feb 03, 2025

Feb 03 2025 - Daily Market Reports

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