METALS X LIMITED (MLX)
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MLX

MLX - METALS X LIMITED

FNArena Sector : Tin
Year End: December
GICS Industry Group : Materials
Debt/EBITDA: 0.02
Index: ASX300 | ALL-ORDS

Metals X is a tin producer with mining interests and a portfolio of mineral investments and development assets.

LAST PRICE CHANGE +/- CHANGE % VOLUME

$1.845

14 Oct
2026

-0.080

OPEN

$1.91

-4.16%

HIGH

$1.94

2,431,739

LOW

$1.83

TARGET
$2.20 19.2% upside
Franking for last dividend paid out: 26%
OTHER COMPANIES IN THE SAME SECTOR
ELT . SRZ .
FNARENA'S MARKET CONSENSUS FORECASTS
MLX: 1
Title FY24
Actual		 FY25
Actual		 FY26
Forecast		 FY27
Forecast
EPS (cps) xxx 11.8 16.0 xxx
DPS (cps) xxx 0.0 0.0 xxx
EPS Growth xxx 4.1% 35.6% xxx
DPS Growth xxx N/A N/A xxx
PE Ratio xxx N/A 10.3 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 202020212022202320242025
EPS Basic xxxxxxxxxxxxxxx11.8
DPS All xxxxxxxxxxxxxxx0.0
Sales/Revenue xxxxxxxxxxxxxxx285.0 M
Book Value Per Share xxxxxxxxxxxxxxx60.1
Net Operating Cash Flow xxxxxxxxxxxxxxx128.3 M
Net Profit Margin xxxxxxxxxxxxxxx36.70 %

EPS Basic

DPS All

Sales/Revenue

Book Value Per Share

Net Operating Cash Flow

Net Profit Margin

Title 202020212022202320242025
Return on Capital Employed xxxxxxxxxxxxxxx21.79 %
Return on Invested Capital xxxxxxxxxxxxxxx21.72 %
Return on Assets xxxxxxxxxxxxxxx18.24 %
Return on Equity xxxxxxxxxxxxxxx21.79 %
Return on Total Capital xxxxxxxxxxxxxxx25.07 %
Free Cash Flow ex dividends xxxxxxxxxxxxxxx92.4 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 202020212022202320242025
Short-Term Debt xxxxxxxxxxxxxxx3 M
Long Term Debt xxxxxxxxxxxxxxx0 M
Total Debt xxxxxxxxxxxxxxx3 M
Goodwill - Gross xxxxxxxxxxxxxxx-
Cash & Equivalents - Generic xxxxxxxxxxxxxxx294 M
Price To Book Value xxxxxxxxxxxxxxx1.86

Short-Term Debt

Long Term Debt

Total Debt

Goodwill - Gross

Cash & Equivalents - Generic

Price To Book Value

Title 202020212022202320242025
Capex xxxxxxxxxxxxxxx37.3 M
Capex % of Sales xxxxxxxxxxxxxxx13.10 %
Cost of Goods Sold xxxxxxxxxxxxxxx159 M
Selling, General & Admin. Exp & Other xxxxxxxxxxxxxxx4 M
Research & Development xxxxxxxxxxxxxxx-
Investments - Total xxxxxxxxxxxxxxx23 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

1
BROKER DATE RATING RECOMMENDATION TARGET PRICE % TO REACH TARGET COMMENTARY

Ord Minnett

15/10/2026

1

Buy

$2.20

19.24%

Ord Minnett notes tin prices remained above US$50,000/t during the quarter, with Indonesian exports recovering while supply from Myanmar shows little sign of improvement.

The target price for Australia's largest tin producer Metals X remains at $2.20. Buy rating retained.

The research update was published on October 14.

FORECAST
Ord Minnett forecasts a full year FY26 dividend of 0.00 cents and EPS of 16.00 cents.
Ord Minnett forecasts a full year FY27 dividend of 0.00 cents and EPS of 8.00 cents.
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

Shaw and Partners

xx/xx/xxxx

3

xxxx

$xx.xx

xx.xx%

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

01/09/2026

3

Downgrade to Hold from Buy

$1.90

2.98%

Canaccord Genuity adjusts its rating for Metals X to Hold from Buy with its target price increased to $1.90 from $1.85 following a 1H 2026 result featuring NPAT of $104m.

The profit beat Canaccord's estimate by 19% and grew 96% year-on-year, primarily driven by a lower-than-expected tax expense following the recognition of deferred tax assets.

Revenue rose 39% year-on-year to $205m, supported by a 57% surge in average LME tin prices to US$50,453/t, which offset a -4.5% decline in sales volumes.

Operationally, the Renison mine delivered a 17% increase in mined ore alongside a 12.4% improvement in processed grades.

Canaccord Genuity downgrades the rating based on valuation with the stock trading at 1.02x P/NAV, while noting the Rentails growth project continues progressing towards a potential final investment decision in 2027.
Access Extra Coverage Research History >

MLX STOCK CHART

FNArena News on MLX

1
Australian Broker Call *Extra* Edition – Oct 14, 2026

Oct 14 2026 - Daily Market Reports
2
Weekly Ratings, Targets, Forecast Changes – 18-09-26

Sep 21 2026 - Weekly Reports
3
Weekly Ratings, Targets, Forecast Changes – 04-09-26

Sep 07 2026 - Weekly Reports
4
In Case You Missed It – BC Extra Upgrades & Downgrades – 04-09-26

Sep 04 2026 - Weekly Reports
5
Australian Broker Call *Extra* Edition – Sep 01, 2026

Sep 01 2026 - Daily Market Reports

Latest Tin News

1
MetalsX: Opportunity Awaits

Feb 08 2022 - Technicals
2
Metals X Raising Tin Profile

Jul 05 2017 - Small Caps