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: 2.23
Index: ALL-ORDS

LAST PRICE CHANGE +/- CHANGE % VOLUME

$0.415

26 Feb
2026

-0.005

OPEN

$0.43

-1.19%

HIGH

$0.43

8,488,032

LOW

$0.40

TARGET
$0.55

-0.05 change from previous day

 32.5% upside
Franking for last dividend paid out: 100%
OTHER COMPANIES IN THE SAME SECTOR
A1M . AR1 . CNB . CSC . CVV . CY5 . CYM . FFM . HGO . LEG . MLX . MM1 . MM8 . NEM . SFR . STM . TTM .
FNARENA'S MARKET CONSENSUS FORECASTS
29M: 1
Title FY24
Actual		 FY25
Actual		 FY26
Forecast		 FY27
Forecast
EPS (cps) xxx 1.6 0.8 xxx
DPS (cps) xxx 0.0 0.0 xxx
EPS Growth xxx N/A - 50.9% xxx
DPS Growth xxx N/A N/A xxx
PE Ratio xxx N/A 51.2 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 © 2026 FactSet UK Limited. All rights reserved
Title 202020212022202320242025
EPS Basic xxxxxxxxxxxxxxx1.6
DPS All xxxxxxxxxxxxxxx0.0
Sales/Revenue xxxxxxxxxxxxxxx566.3 M
Book Value Per Share xxxxxxxxxxxxxxx30.0
Net Operating Cash Flow xxxxxxxxxxxxxxx40.8 M
Net Profit Margin xxxxxxxxxxxxxxx4.27 %

EPS Basic

DPS All

Sales/Revenue

Book Value Per Share

Net Operating Cash Flow

Net Profit Margin

Title 202020212022202320242025
Return on Capital Employed xxxxxxxxxxxxxxx5.59 %
Return on Invested Capital xxxxxxxxxxxxxxx3.95 %
Return on Assets xxxxxxxxxxxxxxx2.32 %
Return on Equity xxxxxxxxxxxxxxx5.59 %
Return on Total Capital xxxxxxxxxxxxxxx-2.40 %
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 202020212022202320242025
Short-Term Debt xxxxxxxxxxxxxxx74 M
Long Term Debt xxxxxxxxxxxxxxx173 M
Total Debt xxxxxxxxxxxxxxx247 M
Goodwill - Gross xxxxxxxxxxxxxxx-
Cash & Equivalents - Generic xxxxxxxxxxxxxxx103 M
Price To Book Value xxxxxxxxxxxxxxx1.77

Short-Term Debt

Long Term Debt

Total Debt

Goodwill - Gross

Cash & Equivalents - Generic

Price To Book Value

Title 202020212022202320242025
Capex xxxxxxxxxxxxxxx123.7 M
Capex % of Sales xxxxxxxxxxxxxxx21.84 %
Cost of Goods Sold xxxxxxxxxxxxxxx507 M
Selling, General & Admin. Exp & Other xxxxxxxxxxxxxxx77 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

0.8

No. Of Recommendations

2
BROKER DATE RATING RECOMMENDATION TARGET PRICE % TO REACH TARGET COMMENTARY

Macquarie

xx/xx/xxxx

1

xxxxxxxxxx

$xx.xx

xx.xx%

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

29/01/2026

2

Upgrade to Accumulate from Hold

$0.60

44.58%

Ord Minnett brought forward its commodity price review (last done on December 12) after over 20% spike in key minerals, lifting 2026 forecasts. Silver led the gain, with 90% rise in the forecast to US$105/oz, gold up 19% and copper up 14%.

Lithium spodumene and copper remain the broker's key pick for 2026, supported by supply tightness and electrification demand, while iron ore and lithium forecasts are unchanged. A modest AUD appreciation only partly offsets the stronger outlook, with forecasts generally above market expectations.

No change to FY25-26 forecasts for 29Metals, while FY27 is lifted by 30.6%. Rating upgraded to Accumulate from Hold.

Target rises to 60c from 45c.
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

Jarden

xx/xx/xxxx

4

xxxxxxxxxxx

$xx.xx

xx.xx%

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Login above or Get a Free Trial

Canaccord Genuity

27/01/2026

5

Sell

$0.35

-15.66%

Canaccord Genuity has retained its Sell rating on 29Metals but cut its target price to $0.35 from $0.55 following a weak DecQ 2025 production result and a further deterioration in the balance sheet.

The broker notes copper production of 6.9kt was in line, but by-product output materially missed expectations as seismic activity continued to restrict access to higher-grade ore at Xantho Extended, driving weaker revenue and cash flow.

Cash fell by -33% to $103m during the quarter, with net debt rising to $85m, prompting a $150m capital raising at $0.40 per share to fund working capital and ongoing expenditure at Golden Grove and Capricorn Copper.

The analyst lowers 2026 earnings (EBITDA) by -38% on lower production guidance and higher costs, and believes a significant operational turnaround is required for value creation, with seismic risk at Golden Grove remaining a key concern.

FORECAST
Canaccord Genuity forecasts a full year FY26 dividend of 0.00 cents and EPS of 0.02 cents.
Access Extra Coverage Research History >

29M STOCK CHART

FNArena News on 29M

1
Weekly Ratings, Targets, Forecast Changes – 30-01-26

Feb 02 2026 - Weekly Reports
2
Australian Broker Call *Extra* Edition – Jan 28, 2026

Jan 28 2026 - Daily Market Reports
3
Australian Broker Call *Extra* Edition – Jan 27, 2026

Jan 27 2026 - Daily Market Reports
4
Australian Broker Call *Extra* Edition – Jan 22, 2026

Jan 22 2026 - Daily Market Reports
5
Australian Broker Call *Extra* Edition – Jan 15, 2026

Jan 15 2026 - Daily Market Reports

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