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

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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
$0.38 25 Jul 2024	-0.015 OPEN $0.39	-3.80% HIGH $0.39	4,347,444 LOW $0.37

LAST PRICE

CHANGE +/-

CHANGE %

VOLUME

$0.38

25 Jul
2024

-0.015

OPEN

$0.39

-3.80%

HIGH

$0.39

4,347,444

LOW

$0.37

TARGET

$0.545

43.4% 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 . RXM . SFR . STM . TTM .

FNARENA'S MARKET CONSENSUS FORECASTS

Title	FY22 Actual	FY23 Actual	FY24 Forecast	FY25 Forecast
EPS (cps)	xxx	- 79.9	- 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

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 © 2024 FactSet UK Limited. All rights reserved

Title	2019	2020	2021	2022	2023
EPS Basic	xxx	xxx	xxx	xxx	-79.9
DPS All	xxx	xxx	xxx	xxx	0.0
Sales/Revenue	xxx	xxx	xxx	xxx	449.3 M
Book Value Per Share	xxx	xxx	xxx	xxx	60.2
Net Operating Cash Flow	xxx	xxx	xxx	xxx	-57.4 M
Net Profit Margin	xxx	xxx	xxx	xxx	-98.04 %

EPS Basic

DPS All

Sales/Revenue

Book Value Per Share

Net Operating Cash Flow

Net Profit Margin

Title	2019	2020	2021	2022	2023
Return on Capital Employed	xxx	xxx	xxx	xxx	-77.41 %
Return on Invested Capital	xxx	xxx	xxx	xxx	-58.68 %
Return on Assets	xxx	xxx	xxx	xxx	-34.90 %
Return on Equity	xxx	xxx	xxx	xxx	-77.41 %
Return on Total Capital	xxx	xxx	xxx	xxx	-16.97 %
Free Cash Flow ex dividends	xxx	xxx	xxx	xxx	-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	2019	2020	2021	2022	2023
Short-Term Debt	xxx	xxx	xxx	xxx	120 M
Long Term Debt	xxx	xxx	xxx	xxx	151 M
Total Debt	xxx	xxx	xxx	xxx	271 M
Goodwill - Gross	xxx	xxx	xxx	xxx	-
Cash & Equivalents - Generic	xxx	xxx	xxx	xxx	162 M
Price To Book Value	xxx	xxx	xxx	xxx	1.07

Short-Term Debt

Long Term Debt

Total Debt

Goodwill - Gross

Cash & Equivalents - Generic

Price To Book Value

Title	2019	2020	2021	2022	2023
Capex	xxx	xxx	xxx	xxx	84.9 M
Capex % of Sales	xxx	xxx	xxx	xxx	18.91 %
Cost of Goods Sold	xxx	xxx	xxx	xxx	548 M
Selling, General & Admin. Exp & Other	xxx	xxx	xxx	xxx	43 M
Research & Development	xxx	xxx	xxx	xxx	-
Investments - Total	xxx	xxx	xxx	xxx	0 M

Capex

Capex % of Sales

Cost of Goods Sold

Selling, General & Admin. Exp & Other

Research & Development

Investments - Total

EXPERT VIEWS
EXTRA COVERAGE

EXPERT VIEWS

Display All Commentary

Sentiment Indicator

0.4

No. Of Recommendations

BROKER	DATE	RATING	RECOMMENDATION	TARGET PRICE	% TO REACH TARGET	COMMENTARY
Macquarie	xx/xx/xxxx	3	xxxxxxx	$xx.xx	xx.xx%	Broker commentary and detailed analysis is available for Full Members Only. Login above or Get a Free Trial
Citi	xx/xx/xxxx	3	xxxxxxx	$xx.xx	xx.xx%	Broker commentary and detailed analysis is available for Full Members Only. Login above or Get a Free Trial
Morgan Stanley	25/07/2024	1	Overweight	$0.55	44.74%	Morgan Stanley leaves its 55c target and Overweight rating unchanged following 2Q results by 29Metals. Industry View: Attractive. Driven by grades, production in the quarter at Golden Grove beat across all commodities, explains the broker, and costs were better than forecasts made by the analysts and consensus by 55% and 48%, respectively. Copper and zinc sales were weaker for the quarter, missing Morgan Stanley's forecasts by -38% and -31%, respectively. FORECAST Morgan Stanley forecasts a full year FY24 dividend of 0.00 cents and EPS of minus -6.00 cents. Morgan Stanley forecasts a full year FY25 dividend of 0.00 cents and EPS of 3.00 cents.
Ord Minnett	xx/xx/xxxx	2	xxxxxxxxxx	$xx.xx	xx.xx%	Broker commentary and detailed analysis is available for Full Members Only. Login above or Get a Free Trial

EXTRA COVERAGE

Display All Commentary

No. Of Recommendations

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%	Broker commentary and detailed analysis is available for Full Members Only. Login above or Get a Free Trial
Canaccord Genuity	09/02/2024	3	Upgrade to Hold from Sell	$0.41	7.89%	29Metals' December quarter result missed consensus forecasts on a number of items, including production of 5,200 ounces at Golden Grove and 2,400 at Capricorn Copper. Canaccord Genuity notes C1 cash costs declined -7% quarter-on-quarter to US$3.06 per pound. All-in sustaining costs declined -11% quarter-on-quarter to US$3.71 per pound, but remained higher than the broker's estimated US$1.57 per pound. The rating is upgraded to Hold from Sell and the target price decreases to 41 cents from 59 cents. FORECAST Canaccord Genuity forecasts a full year FY24 dividend of 0.00 cents and EPS of minus -8.00 cents.

BROKER

DATE

RATING

RECOMMENDATION

TARGET PRICE

% TO REACH TARGET

COMMENTARY

Jarden

xx/xx/xxxx

xxxxxxxxxxx

$xx.xx

xx.xx%

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

Canaccord Genuity

09/02/2024

Upgrade to Hold from Sell

$0.41

7.89%

29Metals' December quarter result missed consensus forecasts on a number of items, including production of 5,200 ounces at Golden Grove and 2,400 at Capricorn Copper.

Canaccord Genuity notes C1 cash costs declined -7% quarter-on-quarter to US$3.06 per pound. All-in sustaining costs declined -11% quarter-on-quarter to US$3.71 per pound, but remained higher than the broker's estimated US$1.57 per pound.

The rating is upgraded to Hold from Sell and the target price decreases to 41 cents from 59 cents.

FORECAST
Canaccord Genuity forecasts a full year FY24 dividend of 0.00 cents and EPS of minus -8.00 cents.

Access Stockbroker Research History >

29M STOCK CHART

FNArena News on 29M

1	Weekly Ratings, Targets, Forecast Changes – 24-05-24 May 27 2024 - Weekly Reports

2	Australian Broker Call Extra Edition – May 03, 2024 May 03 2024 - Daily Market Reports

3	Australian Broker Call Extra Edition – Apr 30, 2024 Apr 30 2024 - Daily Market Reports

4	Material Matters: Pressure On Dividends, Steel & Iron Ore Apr 04 2024 - Commodities

5	Weekly Ratings, Targets, Forecast Changes – 28-03-24 Apr 02 2024 - Weekly Reports

Latest Copper News

1	Listen To What Dr. Copper Has To Say Jun 06 2024 - Technicals

2	Copper: Due A Breather Apr 17 2024 - Technicals

3	Preparing For Copper Price Upside Mar 26 2024 - Commodities

4	Copper: Stay Out For Now Aug 24 2023 - Technicals

5	Copper: It’s Now Or Never Jun 22 2023 - Technicals

6	Copper Super Cycle Temporarily On Halt Sep 09 2022 - Commodities

7	Global Net Zero Target Faces Copper Shortage Aug 24 2022 - Commodities

8	Copper: Buyers Required Jun 29 2022 - Technicals

9	Inflation Drives Declines at OZ Minerals Jun 29 2022 - Australia

10	Copper: Longer Term Bullish May 25 2022 - Technicals

Dividend Yield Today On Last Actual Payout :	0.00
Estimated Dividend Growth (Average Of Past Three Years)	%
Amount Invested	$
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29METALS LIMITED (29M)
Share Price Analysis and Chart