CAPRICORN METALS LIMITED (CMM)
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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

$9.32

05 May
2025

0.100

OPEN

$9.14

1.08%

HIGH

$9.35

528,650

LOW

$9.08

TARGET
$8.943 -4.0% downside
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FNARENA'S MARKET CONSENSUS FORECASTS
CMM: 1
Title FY23
Actual		 FY24
Actual		 FY25
Forecast		 FY26
Forecast
EPS (cps) xxx 23.1 36.3 xxx
DPS (cps) xxx 0.0 0.0 xxx
EPS Growth xxx 100.0% 56.9% xxx
DPS Growth xxx N/A N/A xxx
PE Ratio xxx N/A 26.2 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

Bell Potter

xx/xx/xxxx

3

xxxx

$xx.xx

xx.xx%

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Macquarie

01/05/2025

3

Neutral

$8.40

-9.87%

Capricorn Metals produced 30.6koz of gold in the March quarter, as previously disclosed, while sales were slightly softer at 28.3koz, observes Macquarie.

All-in sustaining costs (AISC) of $1,390/oz beat the broker's estimate and support confidence in achieving FY25 guidance of 110-120koz at cost of between $1,370–1,470/oz.

Year-to-date production reached 84.9koz (74% of mid-point of guidance), with costs expected to track inside guidance due to a strong fourth quarter, explains the analyst.

All hedges were closed out in the period, and the company is now fully exposed to spot gold pricing, highlights the broker.

Macquarie maintains a Neutral rating with a 12-month target price of $8.40, up 2%. 

FORECAST
Macquarie forecasts a full year FY25 dividend of 0.00 cents and EPS of 36.00 cents.
Macquarie forecasts a full year FY26 dividend of 0.00 cents and EPS of 40.90 cents.

Ord Minnett

xx/xx/xxxx

2

xxxxxxxxxx

$xx.xx

xx.xx%

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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

Goldman Sachs

xx/xx/xxxx

1

xxx

$xx.xx

xx.xx%

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Canaccord Genuity

05/05/2025

1

Buy

$10.60

13.73%

Capricorn Metals reported 3Q25 gold production of 30.6koz in line with Canaccord Genuity's expectations, with all-in-sustaining-costs of $1,390/oz, down -7% quarter-on-quarter.

The company remains on track to meet FY25 guidance of 110–120koz at AISC of $1,370–1,470/oz, having delivered 84.9koz year-to-date, the broker explains.

The company is largely exposed to spot gold prices beyond June 2025.

Canaccord Genuity lowers earnings (EBITDA) forecasts for FY25 to $233m (from $240.5m), with FY26–27 unchanged. Buy rated with $10.60 target.

FORECAST
Canaccord Genuity forecasts a full year FY25 dividend of 0.00 cents and EPS of 31.00 cents.
Canaccord Genuity forecasts a full year FY26 dividend of 0.00 cents and EPS of 57.00 cents.

Jarden

xx/xx/xxxx

2

xxxxxxxxxx

$xx.xx

xx.xx%

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Access Extra Coverage Research History >

CMM STOCK CHART

FNArena News on CMM

1
Australian Broker Call *Extra* Edition – May 05, 2025

May 05 2025 - Daily Market Reports
2
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