Capricorn Metals Ltd (AU:CMM)
ASX:CMM
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Capricorn Metals Ltd
(Sydney:CMM)
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Rating:67Neutral
Price Target:
AU$12.50
â–²(7.67% Upside)
Action:ReiteratedDate:03/24/26
The score is driven mainly by strong financial performance (robust growth, high margins, low leverage, and strong cash generation). This is offset by very weak technicals (price below major moving averages, negative MACD, and oversold momentum signals), while valuation is moderately supportive (P/E 12.56, but low dividend yield).
Positive Factors
High Profitability
Capricorn's very high gross, EBIT and net margins reflect efficient mine operations and cost control. Persistently strong margins support durable free cash generation, resilience during gold price fluctuations, and the ability to fund sustaining capex and exploration from operations.
Negative Factors
Commodity Price Exposure
As a single-commodity gold producer, revenue and earnings remain structurally tied to volatile gold prices and production rates. This creates persistent cash flow variability over months and can complicate investment planning, budgeting and credit metrics during price downturns.
Read all positive and negative factors
Positive Factors
Negative Factors
High Profitability
Capricorn's very high gross, EBIT and net margins reflect efficient mine operations and cost control. Persistently strong margins support durable free cash generation, resilience during gold price fluctuations, and the ability to fund sustaining capex and exploration from operations.
Read all positive factors
Capricorn Metals Ltd (CMM) vs. iShares MSCI Australia ETF (EWA)
Market Cap
AU$5.39B
Dividend YieldN/A
Average Volume (3M)2.31M
Price to Earnings (P/E)12.6
Beta (1Y)1.41
Revenue Growth69.26%
EPS Growth175.52%
CountryAU
Employees12
SectorBasic Materials
Sector Strength58
IndustryGold
Share Statistics
EPS (TTM)0.33
Shares Outstanding456,768,400
10 Day Avg. Volume2,129,135
30 Day Avg. Volume2,311,005
Financial Highlights & Ratios
PEG Ratio0.42
Price to Book (P/B)4.97
Price to Sales (P/S)7.50
P/FCF Ratio24.05
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price Target
AU$16.01Price Target Upside37.90% Upside
Rating ConsensusStrong Buy
Number of Analyst Covering5
EPS Forecast (FY)0.75
Revenue Forecast (FY)AU$768.81M
Capricorn Metals Ltd Business Overview & Revenue Model
Company Description
Capricorn Metals Ltd explores for, evaluates, and develops mineral properties in Australia and Madagascar. It holds a 100% interest in the Karlawinda gold project located in the Pilbara region of Western Australia. The company was formerly known a...
How the Company Makes Money
Capricorn Metals makes money primarily by producing gold from its mining operations and selling that gold into the market. Revenue is generated when gold doré (or refined gold, depending on processing and sales arrangements) is sold at prevailing ...
Capricorn Metals Ltd Financial Statement Overview
Summary
Income Statement
85
Very Positive
Balance Sheet
78
Positive
Cash Flow
82
Very Positive
| Breakdown | TTM | Jun 2025 | Jun 2024 | Jun 2023 | Jun 2022 | Jun 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 639.88M | 517.71M | 359.73M | 320.75M | 286.95M | 110.00K |
| Gross Profit | 370.40M | 283.47M | 156.91M | 136.14M | 123.29M | -105.00K |
| EBITDA | 340.43M | 238.76M | 171.43M | 43.84M | 149.53M | -3.56M |
| Net Income | 231.87M | 150.28M | 87.14M | 4.40M | 89.48M | -4.76M |
Balance Sheet | ||||||
| Total Assets | 1.61B | 1.04B | 623.56M | 592.93M | 489.51M | 299.60M |
| Cash, Cash Equivalents and Short-Term Investments | 441.74M | 355.87M | 120.66M | 107.42M | 62.85M | 12.00M |
| Total Debt | 44.19M | 31.80M | 84.11M | 91.81M | 110.82M | 121.06M |
| Total Liabilities | 344.40M | 258.48M | 314.29M | 336.40M | 241.98M | 169.13M |
| Stockholders Equity | 1.26B | 781.21M | 309.26M | 256.54M | 247.53M | 130.46M |
Cash Flow | ||||||
| Free Cash Flow | 232.23M | 161.56M | 92.54M | 105.26M | 57.47M | -139.15M |
| Operating Cash Flow | 379.03M | 259.31M | 158.18M | 152.56M | 134.97M | -18.90M |
| Investing Cash Flow | -174.92M | -97.82M | -65.64M | -47.30M | -77.32M | -121.45M |
| Financing Cash Flow | -118.76M | 74.34M | -79.10M | -60.29M | -6.47M | 104.97M |
Capricorn Metals Ltd Technical Analysis
Negative
11.61
Price Trends
12.49
Negative
13.41
Negative
12.43
Negative
Market Momentum
-0.12
Negative
47.78
Neutral
55.31
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For AU:CMM, the sentiment is Negative. The current price of 11.61 is above the 20-day moving average (MA) of 11.13, below the 50-day MA of 12.49, and below the 200-day MA of 12.43, indicating a neutral trend. The MACD of -0.12 indicates Negative momentum. The RSI at 47.78 is Neutral, neither overbought nor oversold. The STOCH value of 55.31 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for AU:CMM.
Capricorn Metals Ltd Peers Comparison
UnderperformOutperform
Sector (61)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
75 Outperform | AU$5.41B | 4.43 | 27.80% | 0.65% | 31.42% | ― | |
73 Outperform | AU$7.25B | 8.70 | 28.87% | ― | 149.69% | 209.07% | |
67 Neutral | AU$5.39B | 12.56 | 22.68% | ― | 69.26% | 175.52% | |
67 Neutral | AU$7.53B | 11.53 | 11.87% | 1.32% | 16.69% | 3.17% | |
66 Neutral | AU$6.82B | -160.00 | 9.94% | 1.92% | 13.34% | -15.96% | |
61 Neutral | $10.43B | 7.12 | -0.05% | 2.87% | 2.86% | -36.73% |
* Basic Materials Sector Average
AU:CMM
Capricorn Metals Ltd
11.80
2.72
29.94%
AU:PRU
Perseus Mining
5.59
2.29
69.34%
AU:RRL
Regis Resources Limited
7.14
2.88
67.68%
AU:RMS
Ramelius Resources Limited
3.59
0.99
37.92%
AU:GMD
Genesis Minerals Limited
6.35
2.50
64.94%
Capricorn Metals Ltd Corporate Events
Capricorn Metals Seeks ASX Quotation for Additional Ordinary Shares
Apr 24, 2026
Capricorn Metals has applied for quotation on the ASX of 569 new ordinary fully paid shares, to be issued on 24 April 2026 following the exercise or conversion of existing options or other convertible securities. The modest increase in quoted secu...
Capricorn wins FY26 reporting relief for Warriedar subsidiary
Apr 15, 2026
Capricorn Metals Ltd has secured financial reporting relief from ASIC for its wholly owned subsidiary Warriedar Resources for the 2026 financial year. The decision reflects Warriedar’s transition from a former ASX-listed disclosing entity to...
Capricorn Metals Tracks Toward Top End of FY26 Guidance as Expansion Advances
Apr 6, 2026
Capricorn Metals reported preliminary March quarter production of 30,358 ounces of gold at its Karlawinda Gold Project, bringing year-to-date output to 93,152 ounces and keeping the company on track to reach the upper end of its FY26 guidance of 1...
Capricorn Metals Issues Shares to Settle Environmental Consulting Fees
Mar 25, 2026
Capricorn Metals Ltd has issued 34,170 fully paid ordinary shares as payment for environmental consulting fees, indicating the company’s use of equity to settle specific service obligations. The board has confirmed that the share issue was c...
Capricorn Metals Issues Shares to Pay Mt Gibson Environmental Consulting Fees
Mar 25, 2026
Capricorn Metals Ltd has applied for quotation of 34,170 new fully paid ordinary shares on the ASX, issued as payment for environmental consulting services at its Mt Gibson Gold Project. The share-based fee underscores the company’s continue...
Capricorn Metals Seeks ASX Quotation for Additional 15,000 Shares
Mar 25, 2026
Capricorn Metals Ltd has applied to the ASX for quotation of 15,000 additional ordinary fully paid shares, to be issued on March 25, 2026. The modest increase in quoted securities, arising from the exercise or conversion of existing instruments, s...
Capricorn Metals Issues New Shares on Conversion of Employee Performance Rights
Mar 4, 2026
Capricorn Metals has issued 27,391 fully paid ordinary shares following the conversion of employee performance rights, modestly increasing its share capital base. The company confirmed the issuance was conducted without a disclosure document in re...
Capricorn Metals Adds 97,337 New Shares to ASX Quotation
Mar 4, 2026
Capricorn Metals has applied to the ASX for quotation of 97,337 new ordinary fully paid shares following the exercise or conversion of existing securities. The modest issuance marginally increases the company’s listed capital base and reflec...
Capricorn Metals Shareholders Back Higher Board Fee Pool at EGM
Mar 3, 2026
Capricorn Metals Ltd reported that all resolutions put to shareholders at its Extraordinary General Meeting on 3 March 2026 were passed by poll. The key resolution approved was an increase in the non-executive directors’ fee pool, with a str...
Capricorn Metals Posts Record Half-Year, Declares Maiden Dividend and Accelerates Growth
Feb 25, 2026
Capricorn Metals has reported record half-year results for H1 FY26, driven by strong operational performance at its Karlawinda Gold Project, where gold production reached 62,794 ounces at an all-in-sustaining cost of $1,627 per ounce. Revenue surg...
Capricorn Metals Issues Shares to Fund Extension Hill and Mungada Acquisition
Feb 20, 2026
Capricorn Metals Ltd has issued 104,610 fully paid ordinary shares as consideration for the acquisition of the Extension Hill and Mungada Projects, expanding its portfolio of mining assets in Western Australia. The company confirmed that the new s...
Capricorn Metals Issues New Shares on Conversion of Employee Performance Rights
Feb 6, 2026
Capricorn Metals Ltd has issued 23,000 fully paid ordinary shares following the conversion of employee performance rights, modestly increasing its share capital base. The company confirmed that the shares were issued without a disclosure document ...
Capricorn Metals Seeks ASX Quotation for 28,000 New Shares
Feb 6, 2026
Capricorn Metals Ltd has applied to the Australian Securities Exchange for quotation of 28,000 new fully paid ordinary shares under its CMM ticker. The additional securities, issued on 6 February 2026 following the exercise or conversion of existi...
Tempest Extends Deadline for $4.5m Yalgoo Project Sale to Capricorn
Feb 1, 2026
Tempest Minerals has agreed with Capricorn Metals to extend the completion date for the $4.5 million sale of the Yalgoo Project to 14 February 2026 to allow time to finalise routine administrative and regulatory documentation, with no changes to t...
Capricorn Metals Calls March 2026 Extraordinary General Meeting, Shifts to Digital Meeting Materials
Jan 29, 2026
Capricorn Metals Ltd has called an Extraordinary General Meeting of shareholders to be held on 3 March 2026 in West Perth, with eligible voters determined as those on the register as at 10.00am (WST) on 1 March 2026. In line with Australian corpor...
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.