AIC MINES LIMITED (A1M)
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A1M

A1M - AIC MINES LIMITED

FNArena Sector : Gold & Silver
Year End: June
GICS Industry Group : Materials
Debt/EBITDA: 0.74
Index: ALL-ORDS

AIC Mines is an Australian copper and gold company centred on the Eloise copper mine in Queensland, with associated development and exploration projects.

LAST PRICE CHANGE +/- CHANGE % VOLUME

$0.62

03 Nov
2026

-0.035

OPEN

$0.65

-5.34%

HIGH

$0.66

1,589,448

LOW

$0.62

TARGET
$1.133 82.8% upside
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FNARENA'S MARKET CONSENSUS FORECASTS
A1M: 1
Title FY25
Actual		 FY26
Actual		 FY27
Forecast		 FY28
Forecast
EPS (cps) xxx 5.3 10.6 xxx
DPS (cps) xxx 0.0 0.0 xxx
EPS Growth xxx 100.0% 100.0% xxx
DPS Growth xxx N/A N/A xxx
PE Ratio xxx N/A 5.8 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
HISTORICAL DATA ARE ALL IN AUD
Copyright © 2026 FactSet UK Limited. All rights reserved
Title 202020222023202420252026
EPS Basic xxxxxxxxxxxxxxx5.3
DPS All xxxxxxxxxxxxxxx0.0
Sales/Revenue xxxxxxxxxxxxxxx245.2 M
Book Value Per Share xxxxxxxxxxxxxxx43.2
Net Operating Cash Flow xxxxxxxxxxxxxxx99.7 M
Net Profit Margin xxxxxxxxxxxxxxx16.92 %

EPS Basic

DPS All

Sales/Revenue

Book Value Per Share

Net Operating Cash Flow

Net Profit Margin

Title 202020222023202420252026
Return on Capital Employed xxxxxxxxxxxxxxx13.29 %
Return on Invested Capital xxxxxxxxxxxxxxx11.64 %
Return on Assets xxxxxxxxxxxxxxx9.45 %
Return on Equity xxxxxxxxxxxxxxx13.29 %
Return on Total Capital xxxxxxxxxxxxxxx16.48 %
Free Cash Flow ex dividends xxxxxxxxxxxxxxx-80.4 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 202020222023202420252026
Short-Term Debt xxxxxxxxxxxxxxx21 M
Long Term Debt xxxxxxxxxxxxxxx59 M
Total Debt xxxxxxxxxxxxxxx80 M
Goodwill - Gross xxxxxxxxxxxxxxx-
Cash & Equivalents - Generic xxxxxxxxxxxxxxx42 M
Price To Book Value xxxxxxxxxxxxxxx1.68

Short-Term Debt

Long Term Debt

Total Debt

Goodwill - Gross

Cash & Equivalents - Generic

Price To Book Value

Title 202020222023202420252026
Capex xxxxxxxxxxxxxxx180.1 M
Capex % of Sales xxxxxxxxxxxxxxx73.46 %
Cost of Goods Sold xxxxxxxxxxxxxxx171 M
Selling, General & Admin. Exp & Other xxxxxxxxxxxxxxx12 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

1.0

No. Of Recommendations

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

Morgans

xx/xx/xxxx

1

xxx

$xx.xx

xx.xx%

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

23/10/2026

1

Buy

$1.00

61.29%

AIC Mines announced a softer 1Q27 result, Ord Minnett comments, with copper production -8% below forecasts due to lower grades and delayed access to higher-grade ore at Eloise, although FY27 guidance remains unchanged.

AISC of $4.86/lb exceeded 1H27 guidance but was -12% below broker forecasts, while stronger sales and additional debt funding lifted cash to $37.2m, 17% above expectations.

The Stage 1 Eloise expansion has achieved 1.1Mtpa throughput, with the Jericho ramp-up supporting a further increase to 1.5Mtpa and copper production above 25ktpa by FY29, representing 90% growth.

The analyst points out leadership changes include Clint Donkin becoming CEO and Aaron Colleran moving to Non-Executive Chair.

FY27 earnings forecasts are cut by around -7%. The broker retains a Buy rating with a lower target price of $1.00 down from $1.10.

FORECAST
Ord Minnett forecasts a full year FY27 dividend of 0.00 cents and EPS of 10.80 cents.
Ord Minnett forecasts a full year FY28 dividend of 0.00 cents and EPS of 13.60 cents.

Bell Potter

xx/xx/xxxx

1

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

Moelis

xx/xx/xxxx

3

xxxx

$xx.xx

xx.xx%

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Shaw and Partners

22/07/2026

1

Buy

$1.10

77.42%

Shaw and Partners maintains a Buy rating for AIC Mines with a $1.10 target price following the release of three-year operational targets for the combined Eloise-Jericho asset.

Management confirmed an acceleration of the Stage 2 Eloise processing plant expansion to 1.5mtpa by two years to the December quarter of 2028, with the modest $15m capital expenditure funded via internal cash flow.

Production guidance for FY27 and FY28 aligns with existing expectations, while FY29 projections sit materially ahead as Jericho becomes the majority tonnage source.

The analyst notes an expanded prepayment facility with Trafigura provides an additional US$20m undrawn buffer during mill commissioning.

Forecasts and valuation metrics remain in place ahead of full FY26 financial results, with self-funded volume expansion underpinning the long-term thesis.

FORECAST
Shaw and Partners forecasts a full year FY27 dividend of 0.00 cents and EPS of 14.30 cents.
Access Extra Coverage Research History >

A1M STOCK CHART

FNArena News on A1M

1
Australian Broker Call *Extra* Edition – Oct 26, 2026

Oct 26 2026 - Daily Market Reports
2
Australian Broker Call *Extra* Edition – Oct 23, 2026

Oct 23 2026 - Daily Market Reports
3
Australian Broker Call *Extra* Edition – Oct 19, 2026

Oct 19 2026 - Daily Market Reports
4
Weekly Ratings, Targets, Forecast Changes – 09-10-26

Oct 12 2026 - Weekly Reports
5
AIC Mines’ Second Copper Hub Excites

Oct 06 2026 - Commodities

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