METALS X LIMITED (MLX)
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MLX

MLX - METALS X LIMITED

FNArena Sector : Tin
Year End: June
GICS Industry Group : Materials
Debt/EBITDA: 0.05
Index: ALL-ORDS

LAST PRICE CHANGE +/- CHANGE % VOLUME

$0.545

07 Jul
2025

0.000

OPEN

$0.56

0.000

HIGH

$0.56

2,693,536

LOW

$0.55

TARGET
$0.80

+0.80 change from previous day

46.8% upside
Franking for last dividend paid out: 26%
FNARENA'S MARKET CONSENSUS FORECASTS
MLX: 1
Title FY23
Actual
FY24
Actual
FY25
Forecast
FY26
Forecast
EPS (cps) xxx 11.3 13.0 xxx
DPS (cps) xxx 0.0 N/A xxx
EPS Growth xxx 100.0% 14.6% xxx
DPS Growth xxx N/A N/A xxx
PE Ratio xxx N/A 4.4 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 © 2025 FactSet UK Limited. All rights reserved
Title 201920202021202220232024
EPS Basic xxxxxxxxxxxxxxx11.3
DPS All xxxxxxxxxxxxxxx0.0
Sales/Revenue xxxxxxxxxxxxxxx218.8 M
Book Value Per Share xxxxxxxxxxxxxxx48.3
Net Operating Cash Flow xxxxxxxxxxxxxxx143.6 M
Net Profit Margin xxxxxxxxxxxxxxx46.77 %

EPS Basic

DPS All

Sales/Revenue

Book Value Per Share

Net Operating Cash Flow

Net Profit Margin

Title 201920202021202220232024
Return on Capital Employed xxxxxxxxxxxxxxx26.86 %
Return on Invested Capital xxxxxxxxxxxxxxx26.62 %
Return on Assets xxxxxxxxxxxxxxx21.72 %
Return on Equity xxxxxxxxxxxxxxx26.86 %
Return on Total Capital xxxxxxxxxxxxxxx22.23 %
Free Cash Flow ex dividends xxxxxxxxxxxxxxx103.6 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 201920202021202220232024
Short-Term Debt xxxxxxxxxxxxxxx4 M
Long Term Debt xxxxxxxxxxxxxxx3 M
Total Debt xxxxxxxxxxxxxxx6 M
Goodwill - Gross xxxxxxxxxxxxxxx-
Cash & Equivalents - Generic xxxxxxxxxxxxxxx221 M
Price To Book Value xxxxxxxxxxxxxxx0.86

Short-Term Debt

Long Term Debt

Total Debt

Goodwill - Gross

Cash & Equivalents - Generic

Price To Book Value

Title 201920202021202220232024
Capex xxxxxxxxxxxxxxx40.9 M
Capex % of Sales xxxxxxxxxxxxxxx18.71 %
Cost of Goods Sold xxxxxxxxxxxxxxx130 M
Selling, General & Admin. Exp & Other xxxxxxxxxxxxxxx3 M
Research & Development xxxxxxxxxxxxxxx-
Investments - Total xxxxxxxxxxxxxxx14 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

08/07/2025

1

Initiation of coverage with Buy

$0.80

46.79%

Ord Minnett initiates coverage of Metals X with a Buy rating and an 80c target price.

The company owns 50% of the Renison Bell mine in Tasmania, with 10 years of reserves for output of 10ktpa containing tin, which currently trades above US$32kt.

The broker believes the market has ignored Metals X due to a lack of “self-promotion” and broker coverage, with the stock trading at only 2.x times forward EV/EBITDA.

Ord Minnett’s target price ascribes a valuation of 5 times forward EV/EBITDA and flags the company is expected to commence paying cash tax and generating franking credits, with dividends flagged for FY26.

The analyst estimates Renison has all-in sustaining costs of US$21kt, which have the potential to decline if the shallow discovery near Renison is developed.

FORECAST
Ord Minnett forecasts a full year FY25 EPS of 13.00 cents.
Ord Minnett forecasts a full year FY26 EPS of 4.90 cents.

EXTRA COVERAGE
Display All Commentary

No. Of Recommendations

1

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

20/04/2025

3

Hold

$0.50

-8.26%

Canaccord Genuity reviews fundamentals for base metals and EV materials producers, and updates forecasts for relevant stocks under research coverage.

Overall, the broker lowered its near- to mid-term nickel and copper pricing forecasts, increased near-term cobalt pricing and left lithium pricing unchanged.

The broker also lowered the near-term AUD/USD forecast.

For the March quarter, the broker expects a quarter-on-quarter fall in Metals X's production but higher prices to still lead to cash build, up to $226.7m from $220.6m.

Hold. Target rises to 50c from 43c.

MLX STOCK CHART