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

$17.35

27 Aug
2026

-0.430

OPEN

$17.56

-2.42%

HIGH

$17.59

1,754,536

LOW

$17.29

TARGET
$19.25 11.0% 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 90.4 xxx
DPS (cps) xxx 0.0 10.7 xxx
EPS Growth xxx 70.6% 42.8% xxx
DPS Growth xxx N/A N/A xxx
PE Ratio xxx N/A 19.1 xxx
Dividend Yield xxx N/A 0.6% xxx
Div Pay Ratio(%) xxx N/A 11.8% 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 202120222023202420252026
EPS Basic xxxxxxxxxxxxxxx63.3
DPS All xxxxxxxxxxxxxxx0.0
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

3
BROKER DATE RATING RECOMMENDATION TARGET PRICE % TO REACH TARGET COMMENTARY

Macquarie

xx/xx/xxxx

3

xxxxxxxxx xx xxxxxxx xxxx xxxxxxxxxx

$xx.xx

xx.xx%

Broker commentary and detailed analysis is available for Full Members Only.
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UBS

28/08/2026

1

Buy

$20.25

16.71%

UBS notes Capricorn Metals' FY26 EBITDA was -5% below its forecast and -3% below consensus, largely due to higher corporate and exploration costs, while the 5c final dividend was also around -1c below the broker's estimate.

Higher ongoing corporate and exploration expenses and increased D&A at Karlawinda lead the analyst to cut FY27-FY29 earnings forecasts by -4% to -5%, with limited changes to operating assumptions following the company's recent outlook update.

Despite the earnings reductions, a stronger gold price and higher peer valuations support an increased valuation multiple, while UBS also assigns greater value to exploration upside.

Buy retained with a raised target price to $20.25 from $19.50.

FORECAST
UBS forecasts a full year FY27 dividend of 8.00 cents and EPS of 100.00 cents.
UBS forecasts a full year FY28 dividend of 7.00 cents and EPS of 136.00 cents.

Bell Potter

xx/xx/xxxx

3

xxxxxxxxx xx xxxx xxxx xxx

$xx.xx

xx.xx%

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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

-4.90%

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 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
FNArena Corporate Results Monitor – 28-08-2026

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Australian Broker Call *Extra* Edition – Aug 13, 2026

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