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: 0.11
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

$17.59

20 Aug
2026

1.640

OPEN

$16.99

10.28%

HIGH

$17.83

3,612,536

LOW

$16.91

TARGET
$18.55 5.5% upside
Franking for last dividend paid out: 100%
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FNARENA'S MARKET CONSENSUS FORECASTS
CMM: 1
Title FY24
Actual		 FY25
Actual		 FY26
Forecast		 FY27
Forecast
EPS (cps) xxx 37.1 73.2 xxx
DPS (cps) xxx 0.0 9.3 xxx
EPS Growth xxx 60.3% 97.3% xxx
DPS Growth xxx N/A N/A xxx
PE Ratio xxx N/A 24.2 xxx
Dividend Yield xxx N/A 0.5% xxx
Div Pay Ratio(%) xxx N/A 12.8% 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

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 202020212022202320242025
EPS Basic xxxxxxxxxxxxxxx37.1
DPS All xxxxxxxxxxxxxxx0.0
Sales/Revenue xxxxxxxxxxxxxxx528.2 M
Book Value Per Share xxxxxxxxxxxxxxx181.2
Net Operating Cash Flow xxxxxxxxxxxxxxx259.3 M
Net Profit Margin xxxxxxxxxxxxxxx28.45 %

EPS Basic

DPS All

Sales/Revenue

Book Value Per Share

Net Operating Cash Flow

Net Profit Margin

Title 202020212022202320242025
Return on Capital Employed xxxxxxxxxxxxxxx27.56 %
Return on Invested Capital xxxxxxxxxxxxxxx26.46 %
Return on Assets xxxxxxxxxxxxxxx17.26 %
Return on Equity xxxxxxxxxxxxxxx27.56 %
Return on Total Capital xxxxxxxxxxxxxxx45.15 %
Free Cash Flow ex dividends xxxxxxxxxxxxxxx215.2 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 xxxxxxxxxxxxxxx10 M
Long Term Debt xxxxxxxxxxxxxxx22 M
Total Debt xxxxxxxxxxxxxxx32 M
Goodwill - Gross xxxxxxxxxxxxxxx-
Cash & Equivalents - Generic xxxxxxxxxxxxxxx356 M
Price To Book Value xxxxxxxxxxxxxxx5.27

Short-Term Debt

Long Term Debt

Total Debt

Goodwill - Gross

Cash & Equivalents - Generic

Price To Book Value

Title 202020212022202320242025
Capex xxxxxxxxxxxxxxx97.8 M
Capex % of Sales xxxxxxxxxxxxxxx18.51 %
Cost of Goods Sold xxxxxxxxxxxxxxx252 M
Selling, General & Admin. Exp & Other xxxxxxxxxxxxxxx3 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

1.0

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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Macquarie

xx/xx/xxxx

1

xxxxxxxxxx

$xx.xx

xx.xx%

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Bell Potter

03/08/2026

1

Buy

$17.80

1.19%

Capricorn Metals delivered an updated prefeasibility study for Mount Gibson, incorporating maiden underground production in addition to the existing open pit. Bell Potter notes this lifts steady-state production to up to 260,000 ounces per annum at AISC of $1870/oz.

The update is underpinned by a 34% increase in ore reserves. The broker highlights further growth potential, given the early-stage nature of the underground exploration at MGGP and the large-scale tenement package.

Buy rating maintained. Target rises to $17.80 from $16.70.

FORECAST
Bell Potter forecasts a full year FY26 dividend of 10.00 cents and EPS of 77.60 cents.
Bell Potter forecasts a full year FY27 dividend of 10.00 cents and EPS of 99.70 cents.

Ord Minnett

xx/xx/xxxx

1

xxx

$xx.xx

(xx/xx/xxxx)

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

Canaccord Genuity

xx/xx/xxxx

1

xxx

$xx.xx

xx.xx%

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Jarden

06/08/2026

1

Upgrade to Buy from Overweight

$16.50

-6.20%

Jarden upgrades to a Buy rating for Capricorn Metals with a $16.50 target price following a robust June quarter performance resulting in upgraded FY26 financial forecasts.

Expected full-year metrics include revenue of $769m and underlying EBITDA of $486m, while reported net profit after tax is projected to reach $286m.

Adjusting for non-cash hedge movements establishes an underlying net profit of $325m, accurately reflecting sustainable business operations, commentary suggests.

Management issued FY27 production guidance of 137koz to 147koz, prompting the broker's estimates to remain at 150koz on expectations of the expanded Karlawinda mill outperforming rated capacity.

Recategorising specific operating expenditures to capital expenditures drove a 7% increase in FY27 EBITDA forecasts, reinforcing the analyst's view of the company as a preferred gold sector exposure.

FORECAST
Jarden forecasts a full year FY26 dividend of 12.00 cents and EPS of 71.30 cents.
Jarden forecasts a full year FY27 dividend of 13.00 cents and EPS of 76.10 cents.
Access Extra Coverage Research History >

CMM STOCK CHART

FNArena News on CMM

1
Australian Broker Call *Extra* Edition – Aug 17, 2026

Aug 17 2026 - Daily Market Reports
2
In Brief: Bravura, Capricorn Metals & Centuria Industrial REIT

Aug 14 2026 - Weekly Reports
3
Australian Broker Call *Extra* Edition – Aug 13, 2026

Aug 13 2026 - Daily Market Reports
4
In Case You Missed It – BC Extra Upgrades & Downgrades – 07-08-26

Aug 07 2026 - Weekly Reports
5
Australian Broker Call *Extra* Edition – Aug 06, 2026

Aug 06 2026 - Daily Market Reports

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