MEEKA METALS LIMITED (MEK)
Share Price Analysis and Chart

04/09/2025

1

Speculative Buy

$0.27

22.73%

Morgans reassesses its gold coverage on the back of the ongoing rise in the gold price, lifting its long-term gold price assumption to US$2,500/oz from US$2,200/oz.

The analyst views Meeka Metals as "the right place, right time, right commodity" story, with the stock up some 280% over the last 12 months.

The producer is ramping up the Murchison Gold project, which is accompanied by some execution risk as it transitions to Australia's next unhedged, debt-free gold producer.

Speculative Buy rating retained. Target rises to 27c from 23c.

FORECAST
Morgans forecasts a full year FY25 dividend of 0.00 cents and EPS of 0.00 cents.
Morgans forecasts a full year FY26 dividend of 0.00 cents and EPS of 0.30 cents.

08/10/2025

1

Buy

$0.34

54.55%

Petra Capital raises its average gold price forecast across 2025-29 by 14% to US$3,363 and its long-term gold price assumption from 2030 by 25% to US$3,000/oz.

These revisions underpin significant upgrades to target prices for stocks across the broker's coverage of the ASX Gold sector.

Petra Capital recommends maintaining an Overweight exposure to the sector. Preferred producers include Vault Minerals, Black Cat Syndicate, Murchison Gold, St Barbara, and Brightstar Resources.

In the broker's view, Horizon Minerals, Rox Resources and Medallion Metals are stand outs among the developers. For early-stage opportunities, Aurum Resources, Astral Resources, Saturn Metals, and Kairos Minerals are highlighted.

The target for Meeka Metals rises by 46% to 34c. Buy rating retained.

FORECAST
Petra Capital forecasts a full year FY25 dividend of 0.00 cents and EPS of 5.70 cents.
Petra Capital forecasts a full year FY26 dividend of 0.00 cents and EPS of 6.20 cents.