CENTAURUS METALS LIMITED (CTM)
Share Price Analysis and Chart

29/09/2026

1

Buy

$0.60

84.62%

Ord Minnett makes mostly minor changes to commodity price forecasts following a September quarter characterised by stronger energy, coal, precious and most base metal prices, while lithium fell -20%.

The broker remains positive on lithium longer term, lifting CY27 and CY28 price forecasts by 2% and 5%, respectively, supported by electric vehicles, energy storage and renewables demand.

Copper's recent rally is considered vulnerable to reversal, prompting a -6% CY27 price forecast cut, though longer-term fundamentals remain supportive. Aluminium price forecasts are also lowered.

Ord Minnett currently sees more attractive risk-reward across bulk commodities than base metals, particularly iron ore.

For nickel sulphide developer Centaurus Metals, the broker retains a Buy rating and 60c target.

This is a summary of research released by Ord Minnett yesterday.

30/10/2026

1

Speculative Buy

$1.05

223.08%

Canaccord Genuity retains a Speculative Buy rating for Centaurus Metals with its target price unchanged at $1.05 following new binding off-take agreements and a combined US$40m strategic equity investment from Glencore ((GLC)) and CNGR.

The off-take commitments cover 100% of forecast nickel concentrate production over the first five years of operations at the Jaguar Nickel Sulphide Project.

Glencore and CNGR will each invest US$20m across two tranches at $0.425/sh, representing a 5% premium to the 20-day volume-weighted average price.

Senior debt financing progress positions the business towards securing its overall funding package ahead of a targeted final investment decision later in 2026.

The analyst considers securing two credible downstream partners across initial production a meaningful de-risking milestone for the development pathway.