BANNERMAN ENERGY LIMITED (BMN)
Share Price Analysis and Chart

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BMN

BMN - BANNERMAN ENERGY LIMITED

FNArena Sector : Uranium
Year End: June
GICS Industry Group : Energy
Debt/EBITDA: -0.01
Index: ASX300 | ALL-ORDS

LAST PRICE CHANGE +/- CHANGE % VOLUME

$3.11

17 Nov
2025

0.030

OPEN

$3.09

0.97%

HIGH

$3.12

1,430,482

LOW

$2.94

TARGET
$5.10 64.0% upside
OTHER COMPANIES IN THE SAME SECTOR
1AE . AEE . AGE . AKN . ASN . BKY . BOE . BSN . C29 . CXO . CXU . DEV . DYL . EL8 . EL8 . ERA . GLA . GUE . HAR . I88 . KOB . LAM . LOT . MEU . NXG . ORP . PDN . PEN . SLX . TOE . WCN .
FNARENA'S MARKET CONSENSUS FORECASTS
BMN: 1
Title FY24
Actual		 FY25
Actual		 FY26
Forecast		 FY27
Forecast
EPS (cps) xxx - 2.3 - 2.0 xxx
DPS (cps) xxx 0.0 0.0 xxx
EPS Growth xxx N/A N/A xxx
DPS Growth xxx N/A N/A xxx
PE Ratio xxx N/A N/A 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
Copyright © 2025 FactSet UK Limited. All rights reserved
Title 202020212022202320242025
EPS Basic xxxxxxxxxxxxxxx-2.3
DPS All xxxxxxxxxxxxxxx0.0
Sales/Revenue xxxxxxxxxxxxxxx0.0 M
Book Value Per Share xxxxxxxxxxxxxxx106.1
Net Operating Cash Flow xxxxxxxxxxxxxxx-2.8 M
Net Profit Margin xxxxxxxxxxxxxxx-

EPS Basic

DPS All

Sales/Revenue

Book Value Per Share

Net Operating Cash Flow

Net Profit Margin

Title 202020212022202320242025
Return on Capital Employed xxxxxxxxxxxxxxx-2.77 %
Return on Invested Capital xxxxxxxxxxxxxxx-2.77 %
Return on Assets xxxxxxxxxxxxxxx-2.71 %
Return on Equity xxxxxxxxxxxxxxx-2.77 %
Return on Total Capital xxxxxxxxxxxxxxx-4.97 %
Free Cash Flow ex dividends xxxxxxxxxxxxxxx-25.8 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 xxxxxxxxxxxxxxx0 M
Long Term Debt xxxxxxxxxxxxxxx0 M
Total Debt xxxxxxxxxxxxxxx0 M
Goodwill - Gross xxxxxxxxxxxxxxx-
Cash & Equivalents - Generic xxxxxxxxxxxxxxx59 M
Price To Book Value xxxxxxxxxxxxxxx3.14

Short-Term Debt

Long Term Debt

Total Debt

Goodwill - Gross

Cash & Equivalents - Generic

Price To Book Value

Title 202020212022202320242025
Capex xxxxxxxxxxxxxxx43.5 M
Capex % of Sales xxxxxxxxxxxxxxx-
Cost of Goods Sold xxxxxxxxxxxxxxx0 M
Selling, General & Admin. Exp & Other xxxxxxxxxxxxxxx7 M
Research & Development xxxxxxxxxxxxxxx-
Investments - Total xxxxxxxxxxxxxxx2 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

2
BROKER DATE RATING RECOMMENDATION TARGET PRICE % TO REACH TARGET COMMENTARY

Macquarie

xx/xx/xxxx

1

xxxxxxxxxx xx xxxxxxxx xxxx xxxxxxxxxx

$xx.xx

xx.xx%

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

17/10/2025

1

Buy

$4.70

51.13%

Shaw and Partners notes Bannerman Energy reported good progress in its September quarter update, with early construction at the Etango Uranium Project tracking on schedule and within budget.

The company signed its first uranium offtake agreements during the quarter, positioning itself to benefit from rising prices. The broker notes term uranium prices have lifted to US$83/lb, and expects it to exceed US$100/lb.

A Final Investment Decision (FID) for Etango is targeted for late 2025. The company finished the quarter with $112m cash and liquid assets of $13.1m.

Buy, High Risk. Target unchanged at $4.70.

FORECAST
Shaw and Partners forecasts a full year FY26 dividend of 0.00 cents and EPS of minus -1.70 cents.
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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

Petra Capital

xx/xx/xxxx

1

xxx

$xx.xx

xx.xx%

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Login above or Get a Free Trial

Canaccord Genuity

28/10/2025

1

Speculative Buy

$4.27

37.30%

In the wake of Bannerman Energy's 1Q operational report, Canaccord Genuity feels advanced early construction works at the Etango operations are progressing in line with plan.

The broker explains -$15.2m in net spending was incurred during the September quarter, with -$6.9m on plant and equipment and -$6.4m on exploration. Cash rose to $111.8m plus $13.1m in liquid assets following an $85m equity raise.

All key workstreams remain on time and on budget, with bulk earthworks 42% complete and detailed engineering for the dry and wet plants at 86% and 22%, respectively, observe the analysts.

Canaccord raises its target price to $4.27 from $3.86 and retains a Speculative Buy rating.

Initial offtake agreements with two of North America’s largest energy providers are seen as supportive of ongoing financing discussions and the company’s progression towards a final investment decision (FID).

FORECAST
Canaccord Genuity forecasts a full year FY26 dividend of 0.00 cents and EPS of minus -9.34 cents.
Access Extra Coverage Research History >

BMN STOCK CHART

FNArena News on BMN

1
Australian Broker Call *Extra* Edition – Nov 12, 2025

Nov 12 2025 - Daily Market Reports
2
Uranium Week: Biggest Spot Fall Since March

Nov 11 2025 - Weekly Reports
3
Australian Broker Call *Extra* Edition – Oct 28, 2025

Oct 28 2025 - Daily Market Reports
4
Uranium Week: JPMorgan’s US$1.5trn Plan

Oct 21 2025 - Weekly Reports
5
Uranium Week: Sprott Spurs Spot Price Glow

Sep 30 2025 - Weekly Reports

Latest Uranium News

1
Uranium Week: Washington Backs Westinghouse

Nov 04 2025 - Weekly Reports
2
Uranium Week: Projecting US$150/lb Post 2026

Oct 28 2025 - Weekly Reports
3
Uranium Week: JPMorgan’s US$1.5trn Plan

Oct 21 2025 - Weekly Reports
4
Paladin Energy Powering On

Oct 17 2025 - Commodities
5
Uranium Week: Price Frenzy Fades

Oct 14 2025 - Weekly Reports
6
Uranium Week: September Spot Price Rips

Oct 07 2025 - Weekly Reports
7
Uranium Week: Sprott Spurs Spot Price Glow

Sep 30 2025 - Weekly Reports
8
Uranium Week: Bulls Run On Good News

Sep 23 2025 - Weekly Reports
9
Uranium Week: Buyers Strike Pre Major Deals

Sep 16 2025 - Weekly Reports
10
Uranium Week: Tripling Nuclear Capacity By 2050

Sep 09 2025 - Weekly Reports