29METALS LIMITED (29M)
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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

0

LAST PRICE CHANGE +/- CHANGE % VOLUME

$0.25

27 Jul
2026

0.010

OPEN

$0.25

4.17%

HIGH

$0.26

2,710,008

LOW

$0.25

TARGET
$0.323 29.3% upside
Franking for last dividend paid out: 100%
OTHER COMPANIES IN THE SAME SECTOR
A1M . AR1 . CBE . CNB . CSC . CVV . CY5 . CYM . FFM . HGO . LEG . MLX . MM1 . MM8 . NEM . SFR . SLS . STM . TTM .
FNARENA'S MARKET CONSENSUS FORECASTS
29M: 1
Title FY24
Actual		 FY25
Actual		 FY26
Forecast		 FY27
Forecast
EPS (cps) xxx 1.6 - 5.8 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 © 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

0.3

No. Of Recommendations

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

Morgans

xx/xx/xxxx

3

xxxx

$xx.xx

xx.xx%

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

16/07/2026

3

Neutral

$0.26

4.00%

29Metals delivered weaker copper production yet stronger byproducts in the June quarter, Macquarie observes. 2026 guidance has been maintained with first half copper/zinc of 11,200t/3200t within expected ranges.

2026 guidance for gold and silver is also in line with expectations, with first half gold production at 5400 ounces and silver at 255,000 ounces.

The broker observes water levels are no longer a restriction for restarting production of Capricorn while approval of the tailings storage facility 3 is a critical catalyst for a final decision. Neutral retained. Target is reduced to 26c from 28c.

FORECAST
Macquarie forecasts a full year FY26 dividend of 0.00 cents and EPS of minus -5.50 cents.
Macquarie forecasts a full year FY27 dividend of 0.00 cents and EPS of 4.50 cents.

Ord Minnett

xx/xx/xxxx

1

xxxxxxxxx xx xxxxxxxxxxx xxx xxxx xxx

$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

3

xxxx

$xx.xx

xx.xx%

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Jarden

20/07/2026

4

Underweight

$0.30

20.00%

Jarden maintains an Underweight rating for 29Metals with an unchanged target price of $0.30 following a June quarter production update.

The analyst highlights that operational and financial performance beat expectations due to the unexpected processing of gold stockpiles.

Previously downgraded calendar year guidance remained unchanged while liquidity declined further by -$36m to $202m.

The analyst refines financial forecasts and expects the company to report first half revenue of $320m alongside an underlying EBITDA of $39m.

Greater operating consistency at Golden Grove, positive free cash flow generation, and a credible pathway to restart Capricorn Copper are required before taking a more constructive view, Jarden comments.

FORECAST
Jarden forecasts a full year FY26 dividend of 0.00 cents and EPS of minus -2.90 cents.
Jarden forecasts a full year FY27 dividend of 0.00 cents and EPS of 2.30 cents.
Access Extra Coverage Research History >

29M STOCK CHART

FNArena News on 29M

1
Australian Broker Call *Extra* Edition – Jul 20, 2026

Jul 20 2026 - Daily Market Reports
2
Australian Broker Call *Extra* Edition – Jun 09, 2026

Jun 09 2026 - Daily Market Reports
3
In Case You Missed It – BC Extra Upgrades & Downgrades – 08-05-26

May 08 2026 - Weekly Reports
4
Australian Broker Call *Extra* Edition – May 05, 2026

May 05 2026 - Daily Market Reports
5
Australian Broker Call *Extra* Edition – May 04, 2026

May 04 2026 - Daily Market Reports

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