BANNERMAN ENERGY LIMITED (BMN)
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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

Bannerman Energy is developing the Etango uranium project in Namibia, one of the world’s largest undeveloped uranium assets.

LAST PRICE CHANGE +/- CHANGE % VOLUME

$3.29

05 Oct
2026

-0.050

OPEN

$3.36

-1.50%

HIGH

$3.41

634,568

LOW

$3.29

TARGET
$4.717 43.4% upside
OTHER COMPANIES IN THE SAME SECTOR
1AE . AEE . AEU . AGE . AKN . ASN . BKY . BOE . BSN . C29 . CXO . CXU . DEV . DYL . EL8 . EL8 . ERA . HAR . I88 . KOB . LAM . LOT . MEU . NXG . ORP . PDN . PEN . SLX . WCN .
FNARENA'S MARKET CONSENSUS FORECASTS
BMN: 1
Title FY24
Actual		 FY25
Actual		 FY26
Forecast		 FY27
Forecast
EPS (cps) xxx - 2.3 - 0.9 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 © 2026 FactSet UK Limited. All rights reserved
Title 202120222023202420252026
EPS Basic xxxxxxxxxxxxxxx-4.0
DPS All xxxxxxxxxxxxxxx0.0
Sales/Revenue xxxxxxxxxxxxxxx0.0 M
Book Value Per Share xxxxxxxxxxxxxxx129.8
Net Operating Cash Flow xxxxxxxxxxxxxxx-7.6 M
Net Profit Margin xxxxxxxxxxxxxxx-

EPS Basic

DPS All

Sales/Revenue

Book Value Per Share

Net Operating Cash Flow

Net Profit Margin

Title 202120222023202420252026
Return on Capital Employed xxxxxxxxxxxxxxx-3.59 %
Return on Invested Capital xxxxxxxxxxxxxxx-3.58 %
Return on Assets xxxxxxxxxxxxxxx-3.42 %
Return on Equity xxxxxxxxxxxxxxx-3.59 %
Return on Total Capital xxxxxxxxxxxxxxx-4.14 %
Free Cash Flow ex dividends xxxxxxxxxxxxxxx-47.4 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 202120222023202420252026
Short-Term Debt xxxxxxxxxxxxxxx0 M
Long Term Debt xxxxxxxxxxxxxxx2 M
Total Debt xxxxxxxxxxxxxxx2 M
Goodwill - Gross xxxxxxxxxxxxxxx-
Cash & Equivalents - Generic xxxxxxxxxxxxxxx65 M
Price To Book Value xxxxxxxxxxxxxxx2.42

Short-Term Debt

Long Term Debt

Total Debt

Goodwill - Gross

Cash & Equivalents - Generic

Price To Book Value

Title 202120222023202420252026
Capex xxxxxxxxxxxxxxx65.0 M
Capex % of Sales xxxxxxxxxxxxxxx-
Cost of Goods Sold xxxxxxxxxxxxxxx0 M
Selling, General & Admin. Exp & Other xxxxxxxxxxxxxxx9 M
Research & Development xxxxxxxxxxxxxxx-
Investments - Total xxxxxxxxxxxxxxx3 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

0.7

No. Of Recommendations

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

Ord Minnett

xx/xx/xxxx

3

xxxx

$xx.xx

xx.xx%

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Macquarie

18/09/2026

1

Outperform

$5.00

51.98%

Macquarie reinstates its coverage of Bannerman Energy with an Outperform rating and a $5.00 target following the company's $124m equity raising.

The broker believes the US$468m Etango uranium project is fully funded through construction and ramp-up. China National Nuclear Corporation's (CNNC's) US$295m investment and Bannerman's -US$70m pre-production spending are noted.

The analyst explains funding had represented the key project overhang, with focus now shifting to execution ahead of a fourth-quarter 2026 final investment decision (FID). First sales are assumed in early 2029.

Early works are 92% complete, with Macquarie expecting the CNNC partnership to reduce execution and cost risks.

FORECAST
Macquarie forecasts a full year FY26 dividend of 0.00 cents and EPS of minus -1.80 cents.
Macquarie forecasts a full year FY27 dividend of 0.00 cents and EPS of minus -1.10 cents.

UBS

xx/xx/xxxx

1

xxxxxxxxxx xx xxxxxxxx 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

xxxxxxxxxxx xxx

$xx.xx

xx.xx%

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Shaw and Partners

29/07/2026

1

Buy

$7.60

131.00%

Shaw and Partners maintains a Buy rating for Bannerman Energy with a $7.60 target price following the release of the June quarter activities report.

The joint venture with CNNC continues to progress towards September quarter completion, securing full construction funding for the Etango uranium project in Namibia.

Early construction works remain on schedule with first uranium production targeted for 2028, coinciding with an anticipated commodity super-cycle.

Scoping studies on the Etango-XP expansion option, which would double processing capacity to 16Mtpa, have been incorporated into base-case models.

The analyst views global uranium supply as structurally deficient, expecting market prices to surpass US$100/lb to incentivise necessary production capacity.

FORECAST
Shaw and Partners forecasts a full year FY26 dividend of 0.00 cents and EPS of minus -3.40 cents.
Shaw and Partners forecasts a full year FY27 dividend of 0.00 cents and EPS of minus -1.20 cents.
Access Extra Coverage Research History >

BMN STOCK CHART

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