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: 0.04
Index: ASX100 | ASX200 | ASX300 | ALL-ORDS

Capricorn Metals is an Australian gold producer and developer. It operates the Karlawinda Gold Project in Western Australia and is developing the Mt Gibson Gold Project.

LAST PRICE CHANGE +/- CHANGE % VOLUME

$15.80

09 Sep
2026

-0.140

OPEN

$15.78

-0.88%

HIGH

$15.86

1,608,284

LOW

$15.60

TARGET
$19.938 26.2% upside
Franking for last dividend paid out: 100%
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FNARENA'S MARKET CONSENSUS FORECASTS
CMM: 1
Title FY25
Actual		 FY26
Actual		 FY27
Forecast		 FY28
Forecast
EPS (cps) xxx 63.3 84.7 xxx
DPS (cps) xxx 10.0 10.5 xxx
EPS Growth xxx 70.6% 33.9% xxx
DPS Growth xxx N/A 5.0% xxx
PE Ratio xxx N/A 18.6 xxx
Dividend Yield xxx N/A 0.7% xxx
Div Pay Ratio(%) xxx 15.8% 12.4% xxx

Dividend yield today if purchased 3 years ago: 2.36%

DIVIDEND YIELD CALCULATOR

Dividend Yield Today On Last Actual Payout :

 0.63

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

Last ex-div: 16/03 - ex-div 5.00c (franking 100%)

HISTORICAL DATA ARE ALL IN AUD
Copyright © 2026 FactSet UK Limited. All rights reserved
Title 202120222023202420252026
EPS Basic xxxxxxxxxxxxxxx63.3
DPS All xxxxxxxxxxxxxxx10.0
Sales/Revenue xxxxxxxxxxxxxxx769.3 M
Book Value Per Share xxxxxxxxxxxxxxx313.5
Net Operating Cash Flow xxxxxxxxxxxxxxx470.2 M
Net Profit Margin xxxxxxxxxxxxxxx36.68 %

EPS Basic

DPS All

Sales/Revenue

Book Value Per Share

Net Operating Cash Flow

Net Profit Margin

Title 202120222023202420252026
Return on Capital Employed xxxxxxxxxxxxxxx25.50 %
Return on Invested Capital xxxxxxxxxxxxxxx25.06 %
Return on Assets xxxxxxxxxxxxxxx19.13 %
Return on Equity xxxxxxxxxxxxxxx25.50 %
Return on Total Capital xxxxxxxxxxxxxxx39.94 %
Free Cash Flow ex dividends xxxxxxxxxxxxxxx241.6 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 202120222023202420252026
Short-Term Debt xxxxxxxxxxxxxxx3 M
Long Term Debt xxxxxxxxxxxxxxx17 M
Total Debt xxxxxxxxxxxxxxx20 M
Goodwill - Gross xxxxxxxxxxxxxxx-
Cash & Equivalents - Generic xxxxxxxxxxxxxxx505 M
Price To Book Value xxxxxxxxxxxxxxx4.03

Short-Term Debt

Long Term Debt

Total Debt

Goodwill - Gross

Cash & Equivalents - Generic

Price To Book Value

Title 202120222023202420252026
Capex xxxxxxxxxxxxxxx302.2 M
Capex % of Sales xxxxxxxxxxxxxxx39.28 %
Cost of Goods Sold xxxxxxxxxxxxxxx313 M
Selling, General & Admin. Exp & Other xxxxxxxxxxxxxxx4 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

0.5

No. Of Recommendations

4
BROKER DATE RATING RECOMMENDATION TARGET PRICE % TO REACH TARGET COMMENTARY

UBS

xx/xx/xxxx

1

xxx

$xx.xx

xx.xx%

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Ord Minnett

xx/xx/xxxx

1

xxx

$xx.xx

xx.xx%

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Bell Potter

28/08/2026

3

Downgrade to Hold from Buy

$18.05

14.24%

Bell Potter raises its target for Capricorn Metals by 25c to $18.05 after FY25 results and downgrades to Hold from Buy following a strong recent share price performance.

FY26 revenue of $769m was in line with the broker's forecast, while underlying profit of $341m was a slight 'beat'.

FY27 production guidance of 137-147koz at a cost (AISC) of $1,900-$2,100/oz was reaffirmed. The Karlawinda expansion and Mt Gibson development are expected to lift production beyond 400kozpa by FY29.

FY27, FY28 and FY29 EPS forecasts fall by -5%, -4% and -5%, respectively, largely reflecting an updated share count.

FORECAST
Bell Potter forecasts a full year FY27 dividend of 10.00 cents and EPS of 95.10 cents.
Bell Potter forecasts a full year FY28 dividend of 10.00 cents and EPS of 129.20 cents.

Macquarie

xx/xx/xxxx

3

xxxxxxxxx xx xxxxxxx xxxx xxxxxxxxxx

$xx.xx

xx.xx%

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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

Jarden

xx/xx/xxxx

1

xxx

$xx.xx

xx.xx%

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Canaccord Genuity

30/08/2026

1

Buy

$19.20

21.52%

Canaccord Genuity maintains a Buy rating for Capricorn Metals with its target price increased to $19.20 from $19.05 following an FY26 result featuring underlying EBITDA of $484m.

The company reported an underlying NPAT of $327m, representing a 59% increase year-on-year, alongside the declaration of a 5c final fully franked dividend.

Commentary highlights the firm's strong balance sheet, which closed the year with $507m in cash and bullion, zero debt, and full exposure to gold price upside.

Management maintained FY27 guidance of 137koz to 147koz of gold production at an all-in sustaining cost between $1,900/oz and $2,100/oz.

The broker lifts the target price after updating models for FY26 actuals, adjusting near-term cash tax payment assumptions, and revising depreciation forecasts.

FORECAST
Canaccord Genuity forecasts a full year FY27 dividend of 10.00 cents and EPS of 72.00 cents.
Canaccord Genuity forecasts a full year FY28 dividend of 10.00 cents and EPS of 120.00 cents.
Access Extra Coverage Research History >

CMM STOCK CHART

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2
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