CAPRICORN METALS LIMITED (CMM)
Share Price Analysis and Chart

Enter the company code or Name for stock analysis:

CMM

CMM - CAPRICORN METALS LIMITED

FNArena Sector : Gold & Silver
Year End: June
GICS Industry Group : Materials
Debt/EBITDA: 0.5
Index: ASX200 | ASX300 | ALL-ORDS

Capricorn Metals is an Australian gold explorer and developer. Formerly listed as Malagasy Minerals in 2008, the company changed name in 2016 and is now focussed on its Karlawinda project in Western Australia.

LAST PRICE CHANGE +/- CHANGE % VOLUME

$8.12

24 Mar
2025

-0.020

OPEN

$8.13

-0.25%

HIGH

$8.19

938,078

LOW

$8.04

TARGET
$8.447 4.0% upside
OTHER COMPANIES IN THE SAME SECTOR
A1M . AAM . AAR . ADT . ALK . AMI . ASL . AUE . BC8 . BEZ . BGL . BTR . CEL . CNB . CVV . CY5 . CYL . DEG . EMR . EVN . EVR . FFM . FFM . FND . GMD . GOR . GPR . HGO . IGO . KCN . KGL . MAU . MEI . MEK . MML . NEM . NST . NVA . OBM . PDI . PNR . PRU . RMS . RRL . RSG . RXL . SBM . SMI . SPR . SSR . STM . STN . SVL . TBR . TCG . TRE . TTM . VAU . WAF . WGX . WIA .
FNARENA'S MARKET CONSENSUS FORECASTS
CMM: 1
Title FY23
Actual		 FY24
Actual		 FY25
Forecast		 FY26
Forecast
EPS (cps) xxx 23.1 35.7 xxx
DPS (cps) xxx 0.0 0.0 xxx
EPS Growth xxx 100.0% 54.3% xxx
DPS Growth xxx N/A N/A xxx
PE Ratio xxx N/A 22.7 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 xxxxxxxxxxxxxxx23.1
DPS All xxxxxxxxxxxxxxx0.0
Sales/Revenue xxxxxxxxxxxxxxx359.7 M
Book Value Per Share xxxxxxxxxxxxxxx81.9
Net Operating Cash Flow xxxxxxxxxxxxxxx158.2 M
Net Profit Margin xxxxxxxxxxxxxxx24.22 %

EPS Basic

DPS All

Sales/Revenue

Book Value Per Share

Net Operating Cash Flow

Net Profit Margin

Title 201920202021202220232024
Return on Capital Employed xxxxxxxxxxxxxxx30.80 %
Return on Invested Capital xxxxxxxxxxxxxxx25.96 %
Return on Assets xxxxxxxxxxxxxxx13.80 %
Return on Equity xxxxxxxxxxxxxxx30.80 %
Return on Total Capital xxxxxxxxxxxxxxx37.39 %
Free Cash Flow ex dividends xxxxxxxxxxxxxxx124.5 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 xxxxxxxxxxxxxxx60 M
Long Term Debt xxxxxxxxxxxxxxx24 M
Total Debt xxxxxxxxxxxxxxx84 M
Goodwill - Gross xxxxxxxxxxxxxxx-
Cash & Equivalents - Generic xxxxxxxxxxxxxxx121 M
Price To Book Value xxxxxxxxxxxxxxx5.84

Short-Term Debt

Long Term Debt

Total Debt

Goodwill - Gross

Cash & Equivalents - Generic

Price To Book Value

Title 201920202021202220232024
Capex xxxxxxxxxxxxxxx65.6 M
Capex % of Sales xxxxxxxxxxxxxxx18.25 %
Cost of Goods Sold xxxxxxxxxxxxxxx218 M
Selling, General & Admin. Exp & Other xxxxxxxxxxxxxxx3 M
Research & Development xxxxxxxxxxxxxxx-
Investments - Total xxxxxxxxxxxxxxx1 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

0.2

No. Of Recommendations

3
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

Ord Minnett

19/03/2025

2

Accumulate

$9.30

14.53%

Ord Minnett highlights Capricorn Metals’ strong production growth outlook, supported by low costs and long mine life.

Management’s premium reputation is noted for consistent operational and financial performance at the Karlawinda mine in Western Australia.

Recent upgrades to resources and reserves, along with a stronger gold price and stabilising labour markets, have reinforced confidence in mill expansion and production growth, explains the broker.

The analyst notes the Mt Gibson project, currently stalled in permitting, is expected to progress toward approval in 2025, setting the stage for a final investment decision, 

Largely due to a closed-out hedge book, Ord Minnett's earnings (EBITDA) forecasts for FY26 have been increased by 35% to $352m, while FY27 forecasts rise by 6% to $456m.

The $9.30 target and Accumulate rating are maintained.

Bell Potter

xx/xx/xxxx

3

xxxxxxxxx xx xxxx xxxx xxx

$xx.xx

xx.xx%

Broker commentary and detailed analysis is available for Full Members Only.
Login above or Get a Free Trial
Access Stockbroker Research History >
EXTRA COVERAGE
Display All Commentary

No. Of Recommendations

3

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

xxxxxxxxx xx xxxx xxxx xxx

$xx.xx

xx.xx%

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

Jarden

12/03/2025

2

Downgrade to Overweight from Buy

$8.14

0.25%

Most of Capricorn Metals' 1H numbers were pre-reported, so the main surprise for Jarden was the net profit of $43.1m missing its forecast, mainly due to hedge accounting of non-cash charges.

Cost of goods sold was also higher but this was due to the expensing of growth capex for Mt Gibson project, the broker explains.

Target price lifts to $8.14 from $7.99 based on the company's cash flow (cash was $355m in December and $363m including bullion). Rating downgraded to Overweight from Buy for valuation reasons.

The broker reiterates its preference for Capricorn as a core holding, noting its valuation would rise 70% if spot gold and forex prices are adopted in forecasts.

FORECAST
Jarden forecasts a full year FY25 dividend of 0.00 cents and EPS of 33.70 cents.
Jarden forecasts a full year FY26 dividend of 0.00 cents and EPS of 35.50 cents.

Goldman Sachs

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
Access Extra Coverage Research History >

CMM STOCK CHART

FNArena News on CMM

1
Australian Broker Call *Extra* Edition – Mar 24, 2025

Mar 24 2025 - Daily Market Reports
2
Next Week At A Glance – 17-21 Mar 2025

Mar 14 2025 - Weekly Reports
3
In Case You Missed It – BC Extra Upgrades & Downgrades – 14-03-25

Mar 14 2025 - Weekly Reports
4
Australian Broker Call *Extra* Edition – Mar 12, 2025

Mar 12 2025 - Daily Market Reports
5
Australian Broker Call *Extra* Edition – Mar 10, 2025

Mar 10 2025 - Daily Market Reports

Latest Gold & Silver News

1
Northern Star Has Broken Out

Mar 18 2025 - Technicals
2
Gold Miners On The Rise

Mar 11 2025 - Technicals
3
Unlocking Vault’s Golden Potential

Nov 14 2024 - Commodities
4
What Went Wrong With Newmont?

Nov 05 2024 - Australia
5
In Brief: Aurum, Hillgrove & Little Green Pharma

Oct 25 2024 - Weekly Reports
6
Perseus Mining Shares Ready To Run

Oct 22 2024 - Technicals
7
Gold & Dividends Shine For Northern Star

Sep 12 2024 - Australia
8
Cup And Handle For Capricorn Metals

Aug 06 2024 - Technicals
9
Bellevue Gold For Better Grades & Margins

Jul 08 2024 - Commodities
10
Is Gold Overvalued Or Is Silver Undervalued?

Jul 02 2024 - Commodities