METALS X LIMITED (MLX)
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MLX

MLX - METALS X LIMITED

FNArena Sector : Tin
Year End: December
GICS Industry Group : Materials
Debt/EBITDA: 0.02
Index: ASX300 | ALL-ORDS

Metals X is a tin producer with mining interests and a portfolio of mineral investments and development assets.

LAST PRICE CHANGE +/- CHANGE % VOLUME

$1.535

30 Jul
2026

0.000

OPEN

$1.54

0.000

HIGH

$1.55

2,623,997

LOW

$1.50

TARGET
$2.00 30.3% upside
Franking for last dividend paid out: 26%
FNARENA'S MARKET CONSENSUS FORECASTS
MLX: 1
Title FY24
Actual		 FY25
Actual		 FY26
Forecast		 FY27
Forecast
EPS (cps) xxx 11.8 20.7 xxx
DPS (cps) xxx 0.0 N/A xxx
EPS Growth xxx 4.1% 75.4% xxx
DPS Growth xxx N/A N/A xxx
PE Ratio xxx N/A 7.6 xxx
Dividend Yield xxx N/A 0.0% xxx
Div Pay Ratio(%) xxx N/A N/A 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
HISTORICAL DATA ARE ALL IN AUD
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Title 202020212022202320242025
EPS Basic xxxxxxxxxxxxxxx11.8
DPS All xxxxxxxxxxxxxxx0.0
Sales/Revenue xxxxxxxxxxxxxxx285.0 M
Book Value Per Share xxxxxxxxxxxxxxx60.1
Net Operating Cash Flow xxxxxxxxxxxxxxx128.3 M
Net Profit Margin xxxxxxxxxxxxxxx36.70 %

EPS Basic

DPS All

Sales/Revenue

Book Value Per Share

Net Operating Cash Flow

Net Profit Margin

Title 202020212022202320242025
Return on Capital Employed xxxxxxxxxxxxxxx21.79 %
Return on Invested Capital xxxxxxxxxxxxxxx21.72 %
Return on Assets xxxxxxxxxxxxxxx18.24 %
Return on Equity xxxxxxxxxxxxxxx21.79 %
Return on Total Capital xxxxxxxxxxxxxxx25.07 %
Free Cash Flow ex dividends xxxxxxxxxxxxxxx92.4 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 xxxxxxxxxxxxxxx3 M
Long Term Debt xxxxxxxxxxxxxxx0 M
Total Debt xxxxxxxxxxxxxxx3 M
Goodwill - Gross xxxxxxxxxxxxxxx-
Cash & Equivalents - Generic xxxxxxxxxxxxxxx294 M
Price To Book Value xxxxxxxxxxxxxxx1.86

Short-Term Debt

Long Term Debt

Total Debt

Goodwill - Gross

Cash & Equivalents - Generic

Price To Book Value

Title 202020212022202320242025
Capex xxxxxxxxxxxxxxx37.3 M
Capex % of Sales xxxxxxxxxxxxxxx13.10 %
Cost of Goods Sold xxxxxxxxxxxxxxx159 M
Selling, General & Admin. Exp & Other xxxxxxxxxxxxxxx4 M
Research & Development xxxxxxxxxxxxxxx-
Investments - Total xxxxxxxxxxxxxxx23 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

1
BROKER DATE RATING RECOMMENDATION TARGET PRICE % TO REACH TARGET COMMENTARY

Ord Minnett

28/07/2026

1

Buy

$2.00

30.29%

Ord Minnett highlights a "solid" June quarter from Metals X which came despite difficult conditions at Renison. The broker notes profitable operations and cash support the Rentails project.

The share price remains sensitive to the global tin price, while growth is the other catalyst Ord Minnett points out. Greentech is suspected to be "off the menu" but an investment decision for Rentails is anticipated by the end of 2026. Other targets are longer term.

Buy rating retained. Target is $2.00.

FORECAST
Ord Minnett forecasts a full year FY26 EPS of 20.70 cents.
Ord Minnett forecasts a full year FY27 EPS of 13.20 cents.
Access Stockbroker Research History >
EXTRA COVERAGE
Display All Commentary

No. Of Recommendations

1

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

30/07/2026

1

Buy

$1.85

20.52%

Canaccord Genuity maintains a Buy rating for Metals X with a $1.85 target price following a June quarter 2026 operational update exceeding forecasts across production, costs, and earnings.

Tin production reached 2.8kt to beat estimates by 9% despite a sequential -3% decrease in mined grades and weaker recoveries.

Higher realised tin pricing drove a 3% increase in quarterly revenue to $207m and lifted earnings to $126m.

The company finished the period with a $374m cash balance after executing strategic investments in Stellar Resources and Tanami Gold.

The analyst increases 2026 earnings estimates by 4% on the strong quarterly result, noting the Rentails project front-end engineering design remains on track for completion in late 2026.
Access Extra Coverage Research History >

MLX STOCK CHART

FNArena News on MLX

1
Australian Broker Call *Extra* Edition – Jul 30, 2026

Jul 30 2026 - Daily Market Reports
2
Australian Broker Call *Extra* Edition – May 05, 2026

May 05 2026 - Daily Market Reports
3
Australian Broker Call *Extra* Edition – Mar 17, 2026

Mar 17 2026 - Daily Market Reports
4
FNArena Corporate Results Monitor – 02-03-2026

Mar 02 2026 - Australia
5
Australian Broker Call *Extra* Edition – Feb 02, 2026

Feb 02 2026 - Daily Market Reports

Latest Tin News

1
MetalsX: Opportunity Awaits

Feb 08 2022 - Technicals
2
Metals X Raising Tin Profile

Jul 05 2017 - Small Caps