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29metals Ltd. (AU:29M)
:29M
Australian Market

29metals Ltd. (29M) AI Stock Analysis

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AU

29metals Ltd.

(Sydney:29M)

Rating:55Neutral
Price Target:
AU$0.00
▼(-100.00%Downside)
29metals Ltd. receives a moderate overall stock score due to significant financial challenges, including declining revenue and profitability issues, which are partially offset by positive short-term technical indicators. The lack of earnings call and corporate events data limits additional evaluation, and the negative P/E ratio and absence of dividend yield further weigh on the valuation.

29metals Ltd. (29M) vs. iShares MSCI Australia ETF (EWA)

29metals Ltd. Business Overview & Revenue Model

Company Description29Metals Limited explores, develops, and produces copper focused base and precious metals. The company explores for copper, zinc, gold, and silver deposits. It holds interest in the Golden Grove property located in Western Australia; the Capricorn Copper property situated in Queensland; and the Redhill project located in southern Chile. The company was incorporated in 2021 and is headquartered in Melbourne, Australia.
How the Company Makes Money29Metals Ltd. generates revenue through the extraction and sale of base and precious metals, primarily copper and zinc. The company's key revenue streams come from selling these metals to industrial customers and commodity markets. This involves mining operations where ores containing the target metals are extracted, processed, and refined to produce saleable metal products. The company may also engage in strategic partnerships or joint ventures to enhance its operational capabilities and market reach. Additionally, fluctuations in global metal prices, production efficiency, and operational costs are significant factors impacting the company's earnings.

29metals Ltd. Financial Statement Overview

Summary
29metals Ltd. faces challenges with declining revenue and profitability, alongside inconsistent cash flow generation. Despite moderate leverage, the declining equity and asset base indicate financial instability. Strategic improvements are necessary to stabilize operations.
Income Statement
45
Neutral
29metals Ltd. has faced significant challenges in maintaining profitability, as indicated by persistent negative net income and gross profit margins in recent years. The company's revenue has shown fluctuations, with a notable decline from 2022 to 2023. EBIT and EBITDA margins have been negative, reflecting operational inefficiencies and high costs relative to revenue.
Balance Sheet
55
Neutral
The company's debt-to-equity ratio has remained manageable, suggesting a moderate level of leverage. However, the declining stockholders' equity and total assets over time indicate potential risks in maintaining financial stability. The equity ratio highlights a reasonable portion of assets financed by equity, but the decreasing trend is concerning.
Cash Flow
50
Neutral
Cash flow from operations has been inconsistent, with recent improvements in 2024 following a negative operating cash flow in 2023. Free cash flow remains negative, indicating challenges in generating sufficient cash to cover capital expenditures. The operating cash flow to net income ratio varies significantly, reflecting volatility in cash generation relative to reported earnings.
Breakdown
Dec 2024Dec 2023Dec 2022Dec 2021Dec 2020
Income StatementTotal Revenue
551.06M453.88M714.01M593.85M434.45M
Gross Profit
-11.56M-94.60M186.20M229.85M107.30M
EBIT
-146.79M-353.06M-46.97M46.88M98.62M
EBITDA
42.24M-230.93M144.14M147.18M188.63M
Net Income Common Stockholders
-177.61M-440.46M-47.22M121.01M0.00
Balance SheetCash, Cash Equivalents and Short-Term Investments
266.15M174.36M184.46M210.15M150.17M
Total Assets
1.04B981.21M1.29B1.32B1.26B
Total Debt
315.36M271.33M265.48M233.04M247.66M
Net Debt
63.01M109.47M93.51M35.57M97.49M
Total Liabilities
618.79M558.86M577.28M545.64M539.14M
Stockholders Equity
419.28M422.34M715.69M769.54M717.42M
Cash FlowFree Cash Flow
-57.06M-121.47M28.57M-22.52M39.99M
Operating Cash Flow
59.24M-36.52M142.18M75.10M118.97M
Investing Cash Flow
-116.30M-84.94M-113.61M-92.55M-78.89M
Financing Cash Flow
145.59M112.74M-72.40M101.88M-45.71M

29metals Ltd. Technical Analysis

Technical Analysis Sentiment
Positive
Last Price0.20
Price Trends
50DMA
0.15
Positive
100DMA
0.17
Positive
200DMA
0.26
Negative
Market Momentum
MACD
0.02
Negative
RSI
67.73
Neutral
STOCH
64.19
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For AU:29M, the sentiment is Positive. The current price of 0.2 is above the 20-day moving average (MA) of 0.17, above the 50-day MA of 0.15, and below the 200-day MA of 0.26, indicating a neutral trend. The MACD of 0.02 indicates Negative momentum. The RSI at 67.73 is Neutral, neither overbought nor oversold. The STOCH value of 64.19 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for AU:29M.

29metals Ltd. Peers Comparison

Overall Rating
UnderperformOutperform
Sector (51)
Financial Indicators
Name
Overall Rating
Market Cap
P/E Ratio
ROE
Dividend Yield
Revenue Growth
EPS Growth
AUSFR
67
Neutral
$5.26B40.035.11%42.05%
AUIGO
62
Neutral
$2.87B1,418.92-36.53%6.27%-28.50%-532.61%
AU29M
55
Neutral
AU$267.41M-42.21%24.16%68.69%
AURSG
51
Neutral
$1.33B41.67-5.02%27.79%-144.05%
51
Neutral
$2.01B-1.11-21.16%3.67%2.69%-30.65%
* Basic Materials Sector Average
Performance Comparison
Ticker
Company Name
Price
Change
% Change
AU:29M
29metals Ltd.
0.20
-0.24
-54.55%
AU:RSG
Resolute Mining
0.62
0.07
13.76%
AU:SFR
Sandfire Resources Limited
11.56
2.47
27.17%
AU:IGO
IGO
3.96
-2.54
-39.03%

29metals Ltd. Corporate Events

29Metals Appoints New Director Ashish Gupta
Jun 3, 2025

29Metals Limited has announced the appointment of Ashish Gupta as a director, effective from June 3, 2025. Gupta holds 550,000 ordinary fully paid shares through BNP Paribas Nominees Pty Ltd, acting as a sub-custodian for DBS Ltd. This appointment is part of the company’s ongoing efforts to strengthen its leadership team, potentially impacting its strategic direction and stakeholder interests.

The most recent analyst rating on (AU:29M) stock is a Buy with a A$0.49 price target. To see the full list of analyst forecasts on 29metals Ltd. stock, see the AU:29M Stock Forecast page.

29Metals Appoints Ashish Gupta to Board Following BUMA Investment
Jun 3, 2025

29Metals Limited, a company in the mining industry, has announced the appointment of Ashish Gupta as a Non-executive Director, representing BUMA. This follows BUMA’s increased stake in 29Metals to 19.9% after a $180 million equity raise. Gupta’s extensive experience in finance and commercial sectors is expected to bring a fresh perspective to the board, potentially strengthening the company’s strategic direction and stakeholder confidence.

The most recent analyst rating on (AU:29M) stock is a Buy with a A$0.49 price target. To see the full list of analyst forecasts on 29metals Ltd. stock, see the AU:29M Stock Forecast page.

29Metals Ltd. Issues Performance Rights to Employees
May 26, 2025

29Metals Ltd. announced the issuance of 20,089,044 performance rights as part of an employee incentive scheme. These securities are unquoted and not intended for trading on the ASX, reflecting the company’s strategy to motivate and retain its workforce, potentially impacting its operational efficiency and stakeholder engagement.

The most recent analyst rating on (AU:29M) stock is a Buy with a A$0.49 price target. To see the full list of analyst forecasts on 29metals Ltd. stock, see the AU:29M Stock Forecast page.

29Metals Secures Strong Shareholder Support at 2025 AGM
May 23, 2025

29Metals Limited successfully held its 2025 Annual General Meeting, where all four resolutions presented were passed with overwhelming support, each receiving over 98% votes in favor. This outcome demonstrates strong shareholder confidence and support for the company’s strategic direction and governance, potentially strengthening its position in the mining industry.

The most recent analyst rating on (AU:29M) stock is a Buy with a A$0.49 price target. To see the full list of analyst forecasts on 29metals Ltd. stock, see the AU:29M Stock Forecast page.

29Metals Reports Strategic Progress and Financial Strengthening at 2025 AGM
May 22, 2025

29Metals Limited held its 2025 Annual General Meeting, highlighting a year of significant achievements and strategic initiatives. The company reported productivity gains and cost management improvements at Golden Grove, alongside progress in water management at Capricorn Copper. Financially, 29Metals strengthened its position through debt refinancing and a capital raise, funding the development of the Gossan Valley project. The appointment of a new CEO, James Palmer, marks a pivotal moment for the company’s future direction.

The most recent analyst rating on (AU:29M) stock is a Buy with a A$0.49 price target. To see the full list of analyst forecasts on 29metals Ltd. stock, see the AU:29M Stock Forecast page.

29Metals Director Increases Shareholding Through Salary Sacrifice Plan
May 6, 2025

29Metals Limited announced a change in the director’s interest, with Tamara Brown acquiring 68,792 ordinary fully paid shares through the Non-executive Director Salary Sacrifice Share Plan. This acquisition, approved at the 2022 Annual General Meeting, increases her total holdings to 175,704 shares, reflecting a strategic alignment with the company’s governance and compensation policies.

29Metals Director Increases Shareholding
May 6, 2025

29Metals Limited has announced a change in the director’s interest notice involving Jacqui McGill AO, who has acquired 125,078 ordinary fully paid shares under the Non-executive Director Salary Sacrifice Share Plan. This acquisition, approved by shareholders at the 2022 Annual General Meeting, increases McGill’s total holdings to 327,012 shares, reflecting her growing stake and commitment to the company.

29Metals Announces Director’s Share Acquisition
May 6, 2025

29Metals Limited has announced a change in the director’s interest notice involving Fiona Robertson AM. The change involves the acquisition of 125,078 ordinary fully paid shares under the Non-executive Director Salary Sacrifice Share Plan, which was approved by shareholders at the 2022 Annual General Meeting. This update reflects an increase in Ms. Robertson’s direct shareholding in the company, potentially indicating a stronger alignment of interests between the director and the company’s future performance.

29Metals Ltd. Announces Quotation of New Securities on ASX
May 6, 2025

29Metals Ltd. announced the quotation of 444,026 ordinary fully paid securities on the Australian Securities Exchange (ASX), issued under an employee incentive scheme. This move is part of the company’s strategy to enhance its market presence and incentivize its workforce, potentially impacting its operational dynamics and stakeholder interests positively.

29Metals Limited Releases March 2025 Quarterly Report with Key Updates
Apr 28, 2025

29Metals Limited has released its March 2025 Quarterly Report, providing updates on its Mineral Resources and Ore Reserves estimates, which remain unchanged since the last announcement. The company emphasizes the use of non-IFRS financial metrics to assess business performance, offering additional insights into its operations. The report highlights the company’s commitment to transparency and the provision of detailed financial information, although readers are cautioned about the limitations of forward-looking statements and non-IFRS metrics.

29Metals Reports Strong Safety and Operational Progress in March 2025 Quarter
Apr 28, 2025

29Metals Limited reported its March 2025 quarterly results, highlighting a significant reduction in C1 costs at Golden Grove, emphasizing the asset’s quality and ongoing infrastructure investments. The company achieved zero recordable or lost time injuries, indicating a strong safety performance. At Capricorn Copper, progress was made in water management, improving the asset’s compliance footing and advancing towards a sustainable restart of operations. Financially, the company completed senior debt refinancing and maintained its guidance, despite a decrease in available liquidity.

29Metals Secures $115 Million Insurance Settlement for Capricorn Copper
Apr 28, 2025

29Metals Limited announced a resolution to its insurance claim related to the extreme weather event at Capricorn Copper in March 2023. The company has reached an in-principle agreement with insurers for a settlement of $115 million, resulting in a final payment of $54 million. This settlement enhances the company’s liquidity and flexibility, supporting strategic objectives like the Gossan Valley project at Golden Grove and the potential restart of operations at Capricorn Copper.

29Metals Limited Announces Hybrid Format for 2025 AGM
Apr 23, 2025

29Metals Limited has announced its 2025 Annual General Meeting (AGM) scheduled for May 23, 2025, which will be conducted as a hybrid meeting allowing shareholders to participate either in person or virtually. This approach aims to enhance shareholder engagement and accessibility, reflecting the company’s commitment to transparency and stakeholder involvement.

29Metals Releases 2024 Corporate Governance Statement
Apr 23, 2025

29Metals Limited has released its 2024 Corporate Governance Statement and Appendix 4G, indicating a commitment to transparency and regulatory compliance. This release is part of the company’s strategic efforts to ensure robust governance practices, potentially enhancing its reputation and trust among stakeholders.

29Metals Releases 2024 Annual and Sustainability Reports
Apr 23, 2025

29Metals Limited has released its 2024 Annual Report, which includes the 2024 Sustainability & ESG Report. The availability of these reports highlights the company’s commitment to transparency and sustainability, providing stakeholders with insights into its operational and environmental strategies.

29Metals to Release March 2025 Quarterly Report
Apr 7, 2025

29Metals Limited announced it will release its quarterly report for the March 2025 quarter on April 29, 2025. The report will be discussed in a conference call and webcast hosted by CEO James Palmer and the executive team, highlighting the company’s operational and financial performance for stakeholders.

Glossary
OutperformA stock rated as "Outperform" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests that the stock is likely to deliver higher returns compared to the average returns of other stocks in the same sector or market index. Investors might consider this stock a good buying opportunity.
NeutralA stock rated as "Neutral" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly attractive nor unattractive for investment. Investors may consider holding onto the stock, as it is not expected to either significantly outperform or underperform the market.
UnderperformA stock rated as "Underperform" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests that the stock may deliver lower returns compared to the average returns of other stocks in the same sector or market index. Investors might consider selling the stock or avoiding it as an investment.

Disclaimer

This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.