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29metals Ltd. (AU:29M)
:29M
Australian Market
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29metals Ltd. (29M) AI Stock Analysis

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AU:29M

29metals Ltd.

(Sydney:29M)

Rating:52Neutral
Price Target:
AU$0.50
▲(72.41% Upside)
The overall stock score is primarily driven by the company's financial performance challenges and valuation concerns, with a slight positive influence from technical analysis. Declining profitability and inconsistent cash flow weigh heavily, despite moderate leverage and some technical support.

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

29metals Ltd. Business Overview & Revenue Model

Company Description29Metals Ltd. (29M) is a mining company focused on the exploration, development, and production of base and precious metals. The company primarily operates in the mining sector, with a strong emphasis on copper and zinc, while also producing gold and silver as by-products. 29Metals Ltd. is committed to sustainable mining practices and aims to deliver value through the efficient extraction and processing of mineral resources.
How the Company Makes Money29Metals Ltd. generates revenue primarily through the sale of extracted metals such as copper, zinc, gold, and silver. The company operates mining sites where it explores and extracts these minerals from the earth. Once extracted, the minerals are processed and refined to produce marketable products that are sold to various industrial consumers. Key revenue streams include the sale of copper and zinc concentrates, which are in high demand across several industries including construction, electronics, and manufacturing. Additionally, 29Metals Ltd. may engage in strategic partnerships with other mining or industrial companies to enhance its operational capabilities and expand market reach, further contributing to its earnings.

29metals Ltd. Financial Statement Overview

Summary
29metals Ltd. is facing a challenging financial environment marked by declining revenue, negative profitability, and inconsistent cash flow generation. Moderate leverage on the balance sheet is overshadowed by declining equity and assets, necessitating strategic improvements.
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.
BreakdownDec 2024Dec 2023Dec 2022Dec 2021Dec 2020
Income Statement
Total Revenue551.06M453.88M714.01M593.85M434.45M
Gross Profit-11.56M-94.60M186.20M229.85M107.30M
EBITDA42.24M-230.93M144.14M147.18M188.63M
Net Income-177.61M-440.46M-47.22M121.01M0.00
Balance Sheet
Total Assets1.04B981.21M1.29B1.32B1.26B
Cash, Cash Equivalents and Short-Term Investments266.15M174.36M184.46M210.15M150.17M
Total Debt315.36M271.33M265.48M233.04M247.66M
Total Liabilities618.79M558.86M577.28M545.64M539.14M
Stockholders Equity419.28M422.34M715.69M769.54M717.42M
Cash Flow
Free Cash Flow-57.06M-121.47M28.57M-22.52M39.99M
Operating Cash Flow59.24M-36.52M142.18M75.10M118.97M
Investing Cash Flow-116.30M-84.94M-113.61M-92.55M-78.89M
Financing Cash Flow145.59M112.74M-72.40M101.88M-45.71M

29metals Ltd. Technical Analysis

Technical Analysis Sentiment
Positive
Last Price0.29
Price Trends
50DMA
0.28
Positive
100DMA
0.21
Positive
200DMA
0.23
Positive
Market Momentum
MACD
<0.01
Positive
RSI
44.10
Neutral
STOCH
6.28
Positive
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 0.29 is below the 20-day moving average (MA) of 0.32, above the 50-day MA of 0.28, and above the 200-day MA of 0.23, indicating a neutral trend. The MACD of <0.01 indicates Positive momentum. The RSI at 44.10 is Neutral, neither overbought nor oversold. The STOCH value of 6.28 is Positive, 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 (61)
Financial Indicators
Name
Overall Rating
Market Cap
P/E Ratio
ROE
Dividend Yield
Revenue Growth
EPS Growth
61
Neutral
$9.71B7.09-0.14%3.12%3.12%-45.65%
52
Neutral
AU$383.97M-42.21%24.16%68.69%
45
Neutral
AU$455.31M-5.89%63.46%
45
Neutral
AU$352.87M-6.97%-70.31%
36
Underperform
AU$305.42M-3.66%71.15%
32
Underperform
AU$429.59M-38.25%20.80%
* Basic Materials Sector Average
Performance Comparison
Ticker
Company Name
Price
Change
% Change
AU:29M
29metals Ltd.
0.28
-0.03
-9.68%
AU:STK
Strickland Metals Ltd
0.14
0.04
40.00%
AU:MTM
Mt Monger Resources Ltd.
0.74
0.72
3600.00%
AU:AZY
Antipa Minerals Limited
0.54
0.44
440.00%
AU:SMI
Santana Minerals Ltd.
0.63
0.23
57.50%

29metals Ltd. Corporate Events

29Metals Ltd. Releases June 2025 Quarterly Report
Jul 16, 2025

29Metals Ltd. has released its June 2025 Quarterly Report, highlighting its ongoing commitment to updating its Mineral Resources and Ore Reserves estimates, with the next update scheduled for March 2026. The company also emphasizes the use of non-IFRS financial metrics to assess business performance, providing additional insights into the underlying performance of its assets.

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. Reports Mixed Quarterly Results with Strategic Adjustments
Jul 16, 2025

29Metals Ltd. reported a mixed performance for the June 2025 quarter, with improvements in safety metrics and copper production at Golden Grove, but a decline in zinc output. The company has revised its growth capital guidance downwards, reflecting deferred capital expenditures, and has made progress in project approvals at Gossan Valley, which is expected to enhance production flexibility. At Capricorn Copper, the successful conclusion of the wet season has improved operational compliance, and the company is progressing towards a sustainable restart of operations.

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 to Release June 2025 Quarterly Report
Jun 23, 2025

29Metals Limited has announced that it will release its quarterly report for the June 2025 quarter on July 17, 2025. The company’s CEO, James Palmer, along with the executive leadership team, will host a conference call and webcast to discuss the report, highlighting the company’s performance and strategic 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 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.

Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.

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.Date of analysis: Jul 31, 2025