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Cyprium Metals Limited (AU:CYM)
ASX:CYM

Cyprium Metals Limited (CYM) AI Stock Analysis

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AU:CYM

Cyprium Metals Limited

(Sydney:CYM)

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Neutral 50 (OpenAI - 5.2)
Rating:50Neutral
Price Target:
AU$0.58
▲(0.00% Upside)
The score is held down primarily by very weak financial performance (minimal revenue, persistent losses, and ongoing cash burn with rising debt risk). Technicals provide partial support due to a positive trend versus key moving averages and a positive MACD, while valuation remains unattractive/unclear due to negative earnings (negative P/E) and no indicated dividend yield.
Positive Factors
Focused copper development pipeline
A clear, single-commodity focus on copper and on Australian projects provides strategic clarity and concentration of technical expertise. This focus supports value creation through resource definition, targeted project development, and farm‑out or JV options typical for juniors pursuing long-term project maturation.
Positive equity buffer
Substantial reported equity (~A$85.5M) offers a balance-sheet buffer to absorb development costs and operating losses while management pursues project milestones. This strengthens negotiating leverage for offtakes, JV partners or project financing versus peers with weaker capitalization.
Lean operating footprint
A very small employee base implies low fixed overhead and operational flexibility typical of exploration juniors. This conserves cash, allows rapid scaling via contractors or partners, and supports prolonged exploration/program continuity while awaiting financing or farm‑out arrangements.
Negative Factors
No material operating revenue and persistent losses
Absent operating revenue and recurring net losses mean the company cannot self‑fund project development. Persistent negative earnings force reliance on external capital, which can dilute shareholders, delay projects, and limit ability to execute long-term development plans if markets tighten.
Sustained operating cash burn and negative free cash flow
Material and recurring negative operating and free cash flow indicate ongoing cash consumption to fund exploration and overhead. This creates structural funding risk: continued dependence on equity/debt raises or asset sales can be dilutive or costly, impeding steady project advancement.
Rising debt and increasing leverage
Significant increase in debt and higher debt/equity reduces financial flexibility and raises refinancing and covenant risk. For a pre‑production miner, higher leverage increases financing costs and limits options for project financing, making timely execution of development milestones more fragile.

Cyprium Metals Limited (CYM) vs. iShares MSCI Australia ETF (EWA)

Cyprium Metals Limited Business Overview & Revenue Model

Company DescriptionCyprium Metals Limited engages in the exploration of copper projects in Australia. It has copper projects in the Murchison region in Western Australian mining jurisdiction, which includes the Cue copper project and the nearby Nanadie Well Copper gold project; and copper projects in the Paterson Province of Western Australia that comprises the Nifty copper mine, the Maroochydore copper project, and the Paterson exploration project. Cyprium Metals Limited is based in Subiaco, Australia.
How the Company Makes Money

Cyprium Metals Limited Financial Statement Overview

Summary
Financial performance is weak: revenue is effectively zero in recent years, losses are large and persistent, and operating performance remains deeply negative. Cash flow is a key drag with sustained operating cash burn and consistently negative free cash flow, implying reliance on external funding. The balance sheet provides some buffer via positive equity, but rising debt increases financing risk if losses persist.
Income Statement
12
Very Negative
The income statement is very weak: revenue is effectively zero in recent annual periods (2022–2025), while losses are sizable and persistent (net loss of ~26.4M in 2025 vs ~19.6M in 2023). Operating performance is deeply negative (EBITDA and EBIT losses each year), indicating the business is not yet generating operating scale or profitability. A modest positive is that losses were smaller in 2023 than 2022, but the latest year (2025) shows a re-widening of losses.
Balance Sheet
43
Neutral
The balance sheet is mixed. Equity remains positive and sizable (about 85.5M in 2025), providing a buffer, but leverage has risen with debt increasing to ~60.9M in 2025 (up from ~32.8M in 2022). Debt relative to equity has moved higher (roughly 0.58 in 2022 to ~0.71 in 2025), and returns on equity are consistently negative due to ongoing losses, which raises risk if losses persist and funding needs continue.
Cash Flow
18
Very Negative
Cash flow quality is weak, with operating cash flow negative across all years and worsening in the latest period (about -23.6M in 2025 vs -9.2M in 2023). Free cash flow is also consistently negative (about -30.0M in 2025), implying continued cash burn and reliance on external funding. While free cash flow was less negative in 2025 than in 2022, the overall trajectory still reflects heavy reinvestment/overhead relative to the current revenue base.
BreakdownTTMDec 2024Dec 2023Dec 2022Dec 2021Dec 2020
Income Statement
Total Revenue0.000.000.000.0024.00K100.00K
Gross Profit-1.21M-1.21M-674.00K-1.66M-4.17M59.65K
EBITDA-20.39M-20.21M-10.86M-27.42M-25.18M-1.61M
Net Income-26.42M-26.42M-19.57M-27.47M-26.67M-997.37K
Balance Sheet
Total Assets186.44M186.44M173.06M154.50M173.91M13.45M
Cash, Cash Equivalents and Short-Term Investments13.66M13.66M7.33M1.69M25.47M5.47M
Total Debt60.40M60.96M51.87M32.75M30.26M61.02K
Total Liabilities100.99M100.99M92.28M82.87M95.34M1.37M
Stockholders Equity85.45M85.45M80.78M71.63M78.57M12.07M
Cash Flow
Free Cash Flow-15.00M-29.99M-14.99M-40.63M-57.24M-3.66M
Operating Cash Flow-12.68M-23.62M-9.23M-25.00M-18.46M-968.73K
Investing Cash Flow-2.89M-2.89M-5.76M-15.41M-45.61M-2.69M
Financing Cash Flow32.03M32.03M-307.00K16.64M84.16M5.56M

Cyprium Metals Limited 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
$10.43B7.12-0.05%2.87%2.86%-36.73%
57
Neutral
AU$191.19M-6.98-29.41%281.37%2.27%
50
Neutral
AU$282.99M-3.82
49
Neutral
AU$203.86M-1.44-57.00%-1789.13%
48
Neutral
AU$9.99M-2.46-157.73%6.15%
* Basic Materials Sector Average
Performance Comparison
Ticker
Company Name
Price
Change
% Change
AU:CYM
Cyprium Metals Limited
0.60
0.36
151.05%
HHLKF
Hot Chili Limited
1.42
0.98
223.46%
AU:HGO
Hillgrove Resources Limited
0.06
0.02
42.86%
DE:STC
Caravel Minerals Limited
0.27
0.16
155.24%
AU:NRX
Noronex Ltd.
0.02
0.00
0.00%
AU:AR1
Austral Resources Australia Limited
0.13
-0.04
-21.88%

Cyprium Metals Limited Corporate Events

Cyprium Flags Near‑Term Copper Output at Nifty in New Investor Briefing
Jan 23, 2026

Cyprium Metals has released an investor presentation outlining its status as a near‑term copper cathode producer at the Nifty Copper Complex and summarising recent technical and resource work underpinning the project. The document emphasises that the material is informational rather than an offer of securities, highlights reliance on previously released pre‑feasibility and resource estimates prepared under the JORC Code, and cautions that these disclosures may not align with reporting standards in other jurisdictions, signalling regulatory and comparability considerations for international investors.

The most recent analyst rating on (AU:CYM) stock is a Hold with a A$0.60 price target. To see the full list of analyst forecasts on Cyprium Metals Limited stock, see the AU:CYM Stock Forecast page.

Cyprium Metals Secures A$41m to Fast-Track Nifty Growth and Exploration
Jan 23, 2026

Cyprium Metals has launched a A$41 million equity raising, comprising a A$36 million institutional placement and a fully underwritten A$5 million entitlement offer at A$0.52 per share, to fund accelerated exploration and production growth initiatives. Strong demand from existing major shareholders Flat Footed and Tribeca, new institutional investors and the Cyprium board underpins the raising, which will support regional exploration, studies and early works for expanding SXEW capacity, reactivating the Nifty open pit and assessing concentrator refurbishment, while the company continues progressing towards first copper cathode production from Nifty expected in mid-2026.

The most recent analyst rating on (AU:CYM) stock is a Hold with a A$0.60 price target. To see the full list of analyst forecasts on Cyprium Metals Limited stock, see the AU:CYM Stock Forecast page.

Cyprium Metals Secures Trading Halt Ahead of Material Capital Raising
Jan 20, 2026

Cyprium Metals Limited has requested and been granted a trading halt on its securities by the ASX, pending an announcement regarding a proposed capital raising that the company describes as material. Trading in CYM shares is expected to resume by 23 January 2026 or once the capital-raising announcement is released, signaling that the company is preparing to secure new funding that could have a significant impact on its financial position and future development plans.

The most recent analyst rating on (AU:CYM) stock is a Hold with a A$0.60 price target. To see the full list of analyst forecasts on Cyprium Metals Limited stock, see the AU:CYM Stock Forecast page.

Cyprium Flags Major Copper Upside After Regaining Paterson Exploration Ground
Jan 19, 2026

Cyprium Metals has completed a first-pass review of an extensive exploration dataset for its Paterson Exploration Project, recently regained from former joint venture partner IGO, which invested $24 million in exploration over the ground. The review has highlighted numerous high-priority copper targets, including significant potential to extend known mineralisation at the Rainbow and Rainbow South prospects, supported by historic intercepts of high-grade copper and silver, and promising results at Stirling, NL04b, MB01 and NL05a, where drilling and follow-up programs are now being designed or scheduled. The company views the Paterson Exploration Project as a major opportunity to convert the large volume of legacy drilling, geochemical and geophysical data into new copper discoveries that could enhance the future scale and longevity of its Nifty Copper Complex operations and strengthen its position as an emerging Australian copper producer.

The most recent analyst rating on (AU:CYM) stock is a Hold with a A$0.60 price target. To see the full list of analyst forecasts on Cyprium Metals Limited stock, see the AU:CYM Stock Forecast page.

Cyprium Advances Nifty Copper Restart After A$80m Capital Injection
Jan 16, 2026

Cyprium Metals has approved the Phase 1 restart of copper cathode production at its Nifty Copper Complex, targeting first output in mid-2026, and has advanced key construction, environmental compliance and operational readiness activities, including refurbishment of heap leach infrastructure, early works for a new acid storage and distribution system, and ordering long lead items for refurbishment of the SXEW plant. The company strengthened its balance sheet with a A$80 million capital raise, refinancing of its senior secured loan facility, completion of a US$6.4 million surplus generator sale and a 1-for-10 share consolidation, while appointing two new non-executive directors, leaving it with A$75 million in cash at quarter-end to support its transition to production and pursue further growth phases at Nifty and other assets in the Paterson region.

The most recent analyst rating on (AU:CYM) stock is a Hold with a A$0.60 price target. To see the full list of analyst forecasts on Cyprium Metals Limited stock, see the AU:CYM Stock Forecast page.

Cyprium Metals Updates Market on Director Fifield’s Increased Equity Rights
Jan 14, 2026

Cyprium Metals has disclosed a change in director J Matthew Fifield’s interest in the company’s securities following the issue of additional purchased rights under its Employee Securities Incentive Plan. Through his associated entities P R C M Nominees Pty Ltd and Pacific Road Capital Pty Limited, Fifield received 355,118 purchased rights at nil consideration, increasing his indirectly held purchased rights to 539,484, while his holdings of fully paid ordinary shares, options and performance rights remained unchanged. The securities were issued pursuant to shareholder approval granted at the company’s November 2025 annual general meeting, underscoring the company’s ongoing use of equity incentives to reward and retain key personnel and align governance structures with shareholder-endorsed incentive frameworks.

The most recent analyst rating on (AU:CYM) stock is a Hold with a A$0.61 price target. To see the full list of analyst forecasts on Cyprium Metals Limited stock, see the AU:CYM Stock Forecast page.

Cyprium Metals Updates Director Scott Perry’s Equity Incentives
Jan 14, 2026

Cyprium Metals Limited has notified the ASX of a change in the securities held by director Scott Perry, reflecting an update to his equity-based remuneration under the company’s employee incentive arrangements. While the announcement is administrative in nature, it highlights the continued use of performance rights and purchased rights to align director incentives with shareholder interests.

Perry has been issued 405,000 performance rights and 98,836 purchased rights at nil consideration under the Employee Securities Incentive Plan, following shareholder approval at the November 2025 annual general meeting. As a result, his holding now comprises 7,142,858 fully paid ordinary shares, 2,678,572 options, 405,000 performance rights and 143,084 purchased rights, slightly increasing his exposure to the company’s future performance and reinforcing governance transparency through timely disclosure of director interests.

The most recent analyst rating on (AU:CYM) stock is a Hold with a A$0.61 price target. To see the full list of analyst forecasts on Cyprium Metals Limited stock, see the AU:CYM Stock Forecast page.

Cyprium Metals Director Gary Comb Increases Equity-Linked Holdings
Jan 14, 2026

Cyprium Metals has disclosed a change in the interests of director Gary Ernest Comb, who has increased his holdings through both direct and indirect structures associated with family and superannuation trusts. The update shows Comb was granted 405,000 additional performance rights and 59,301 purchased rights at nil consideration, resulting in significantly higher performance and purchased rights positions while his holdings of fully paid ordinary shares and options remain unchanged, signalling continued alignment of the director’s incentives with shareholder outcomes.

The most recent analyst rating on (AU:CYM) stock is a Hold with a A$0.61 price target. To see the full list of analyst forecasts on Cyprium Metals Limited stock, see the AU:CYM Stock Forecast page.

Cyprium Metals Grants Incentive Securities to Director Amber Banfield
Jan 14, 2026

Cyprium Metals Limited has disclosed a change in director Amber Banfield’s interests, with her indirect holding, via Rotto Pty Ltd as trustee for The Banfield Family Trust, increasing to 405,000 performance rights and 21,982 purchase rights. The securities were issued for nil consideration under the company’s Employee Securities Incentive Plan, following shareholder approval at the 20 November 2025 annual general meeting, signalling ongoing alignment of executive remuneration with shareholder interests and long-term company performance.

The most recent analyst rating on (AU:CYM) stock is a Hold with a A$0.61 price target. To see the full list of analyst forecasts on Cyprium Metals Limited stock, see the AU:CYM Stock Forecast page.

Cyprium Metals Updates Market on Director Jim Simpson’s Increased Equity Interests
Jan 14, 2026

Cyprium Metals Limited has updated the market on a change in director James (Jim) Simpson’s relevant interests, following the issue of 405,000 performance rights to an entity associated with him, Keronga Developments Pty Ltd. The new securities were granted at nil consideration under the company’s Employee Securities Incentive Plan, which had received prior shareholder approval at the November 2025 annual general meeting, and increase Simpson’s indirect holdings while signalling the continued use of equity-based incentives to align director interests with long-term shareholder value.

The most recent analyst rating on (AU:CYM) stock is a Hold with a A$0.61 price target. To see the full list of analyst forecasts on Cyprium Metals Limited stock, see the AU:CYM Stock Forecast page.

Cyprium Metals Issues New Unquoted Equity Under Employee Incentive Scheme
Jan 9, 2026

Cyprium Metals Limited has notified the ASX of the issuance of new unquoted equity securities under its employee incentive arrangements, comprising performance rights and purchased rights that will not be quoted on the exchange. The move involves the issue of 1,620,000 performance rights and 612,090 purchased rights on 8 and 9 January 2026 respectively, signalling continued use of equity-based incentives to align staff and executives with shareholder interests and support the company’s ongoing corporate and operational objectives.

The most recent analyst rating on (AU:CYM) stock is a Hold with a A$0.56 price target. To see the full list of analyst forecasts on Cyprium Metals Limited stock, see the AU:CYM Stock Forecast page.

Cyprium Metals Reports AGM Results, Secures Strong Shareholder Support
Nov 20, 2025

Cyprium Metals Limited announced the results of its 2025 Annual General Meeting, where all resolutions except one were passed. The adoption of the Remuneration Report received over 75% approval. This outcome reflects shareholder support for the company’s strategic direction, which includes fast-tracking the restart of operations at the Nifty Copper Complex and leveraging its tier-one copper assets in Western Australia.

Cyprium Metals Advances Nifty Copper Complex Restart Plan
Nov 20, 2025

Cyprium Metals Limited has announced the approval of a restart plan for the Nifty Copper Complex, marking a significant milestone for the company. The plan involves reactivating the SXEW, re-leaching heap leach pads, and reopening the open pit to create a large-scale copper mine. The company has demonstrated its capability to execute this plan, supported by a recent capital raise and strong shareholder backing. Cyprium’s strategic advantages include speed to market, a robust supply chain in Western Australia, and the ability to attract skilled partners. The company is also exploring growth opportunities beyond Nifty, with a focus on its copper-cobalt resource at Maroochydore.

Cyprium Metals to Restart Cathode Operations at Nifty Complex
Nov 20, 2025

Cyprium Metals Limited has received board approval for the restart of its cathode operations at the Nifty Copper Complex, targeting first production by mid-2026. The plan involves re-leaching existing heap leach pads and refurbishing the solvent extraction electrowinning plant to produce a minimum of 6,000 tonnes of copper cathode annually. This strategic move is expected to generate cash flow and facilitate future growth from open pit and regional ore sources.

Cyprium Metals Secures New Loan Facility for Nifty Copper Complex
Nov 17, 2025

Cyprium Metals Limited has successfully refinanced its senior secured loan facility, securing a new US$27.3 million loan with Nebari Natural Resources Credit Fund II LP. This refinancing allows Cyprium to fully repay its existing loan with Glencore Australia Holdings Pty Limited, enhancing its financial position as it focuses on the phased restart of the Nifty Copper Complex.

Cyprium Metals Gains Approval for Nifty Copper Complex Restart
Nov 17, 2025

Cyprium Metals Limited has received approval from the Western Australia Department of Energy and Economic Diversification to proceed with restarting cathode operations at the Nifty Copper Complex. This approval marks the final administrative step needed to resume operations, which will involve copper recovery from existing leach pads, creating over 70 permanent jobs and more than 80 construction jobs. The restart is part of Cyprium’s phased redevelopment plan to establish the Nifty Copper Complex as a key source of Australian copper, leveraging existing infrastructure and resources.

Cyprium Metals Accelerates Nifty Copper Complex Restart
Nov 14, 2025

Cyprium Metals Limited is accelerating the restart of its Nifty Copper Complex to take advantage of current high copper prices. The company plans to reprocess heap leach pads for early cash flow and refurbish existing facilities to access a substantial reserve, with the goal of producing copper cathode within 12 months. This initiative is fully funded following an $80 million raise and is expected to generate significant free cash flow annually, positioning Cyprium favorably in the market.

Cyprium Metals Refinances Loan to Boost Nifty Copper Complex Restart
Nov 14, 2025

Cyprium Metals Limited has successfully refinanced its US$27.3 million senior secured loan facility with Nebari, extending the loan maturity to December 2029. This refinancing provides Cyprium with the flexibility to manage its balance sheet and retain liquidity while investing in the restart of cathode production at the Nifty Copper Complex. The agreement also includes preliminary discussions for future funding to expand production through open pit mining, which could increase cathode and concentrate output.

Cyprium Metals Completes Sale of Surplus Generators
Nov 4, 2025

Cyprium Metals Limited has completed the sale of surplus generators, receiving a final payment of AUD 1.8 million, bringing the total to AUD 9.8 million. This transaction supports the company’s efforts in restarting operations at the Nifty Copper Complex, potentially enhancing its market position and operational capabilities.

Cyprium Metals Secures A$80 Million for Nifty Copper Restart
Oct 31, 2025

Cyprium Metals Limited has successfully raised A$80 million through a Placement and Entitlement Offer to fund the Phase 1 restart of its Nifty Copper Complex. This capital raise strengthens the company’s balance sheet and supports the completion of a feasibility study for the Concentrate Project. The company is now fully funded to execute its plans, with a strong cash position and continued progress in operational readiness for the cathode restart project. The appointment of new directors and the approval of a share consolidation further position Cyprium for future growth.

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: Jan 28, 2026