Jupiter Mines Limited (JMS) AI Stock Analysis

• Market Cap: AU$550.44M
• Dividend Yield: 5.45%
• Average Volume (3M): 2.01M
• Price to Earnings (P/E): 13.7
• Beta (1Y): 1.31
• Revenue Growth: 16.86%
• EPS Growth: 3.03%
• Country: AU
• Employees: 1
• Sector: Basic Materials
• Sector Strength: 58
• Industry: Industrial Materials
• EPS (TTM): 0.01
• Shares Outstanding: 1,965,850,600
• 10 Day Avg. Volume: 1,683,780
• 30 Day Avg. Volume: 2,007,001
• PEG Ratio: 3.24
• Price to Book (P/B): 0.70
• Price to Sales (P/S): 41.67
• P/FCF Ratio: 521.95
• Enterprise Value/Market Cap: N/A
• Enterprise Value/Revenue: N/A
• Enterprise Value/Gross Profit: N/A
• Enterprise Value/Ebitda: N/A
• 1Y Price Target: AU$0.29
• Price Target Upside: 3.57% Upside
• Rating Consensus: Moderate Buy
• Number of Analyst Covering: 1
• EPS Forecast (FY): N/A
• Revenue Forecast (FY): N/A

• Rating: 77 Outperform
• Price Target: AU$0.32 ▲(15.36% Upside)

Jupiter Mines Limited scores well due to its strong balance sheet and efficient operations, which are offset by inconsistent revenue and profit growth. The stock's technical indicators are favorable, showing a bullish trend, though caution is advised due to potential overbought conditions. Valuation metrics are attractive, with a reasonable P/E ratio and high dividend yield, making it appealing for income investors.

Positive Factors

Low leverage / strong balance sheet

A low debt-to-equity profile and robust equity ratio give Jupiter durable financial flexibility. Over 2-6 months this supports capacity to sustain distributions, absorb commodity downturns, fund capital needs without refinancing pressure and preserve shareholder optionality.

Operational efficiency and margins

Consistently strong gross and healthy EBIT/EBITDA margins indicate efficient mining economics at the asset level. This operational advantage helps preserve profitability through commodity cycles and supports longer-term cash generation potential for dividends or reinvestment.

Cash distributions from Tshipi business model

Owning an equity stake in a producing manganese operation creates a clear, low-overhead earnings stream via distributions. Structurally this ties Jupiter’s cash generation to operating production rather than direct capex-intense mining, simplifying capital allocation over time.

Negative Factors

Inconsistent revenue and profit growth

Persistent inconsistency in revenue and volatile net margins undermine predictability of earnings and distributions. Over months this complicates planning, capital allocation and investor visibility, increasing the risk profile despite healthy headline margins.

Volatile free cash flow generation

Fluctuating and recently negative free cash flow growth reduces the firm's ability to sustain dividends, fund growth or absorb shocks without tapping reserves. Structurally this weakens long-term financial resilience and could force tougher allocation choices in stress periods.

Concentrated single-asset and commodity/FX exposure

Jupiter’s earnings hinge on one partnership and commodity dynamics plus ZAR/USD moves, creating structural concentration risk. Lack of diversification amplifies revenue and cashflow volatility from price, grade, logistics or FX shifts, raising medium-term business risk.

Jupiter Mines Limited Business Overview & Revenue Model

Company Description

Jupiter Mines Limited engages in the development and operation of mineral resource properties. It primarily explores for manganese deposits. The company's flagship project is the Tshipi Manganese mine located in South Africa. Jupiter Mines Limited was incorporated in 2003 and is based in Perth, Australia.

How the Company Makes Money

Jupiter Mines Limited generates revenue primarily through the sale of manganese and iron ore. The Tshipi manganese mine is a significant contributor to the company's income, producing high-grade manganese that is sold to steel manufacturers and other industrial customers around the world. Revenue is derived from long-term contracts with customers and spot market sales, which provides a diversified income stream. The company also engages in joint ventures and partnerships that enhance its operational capabilities and market reach, contributing to its overall earnings. Additionally, fluctuations in commodity prices and demand in the steel industry directly influence the revenue generated from its mining operations.

Jupiter Mines Limited Financial Statement Overview

Summary

Jupiter Mines Limited demonstrates strong financial health with a solid balance sheet and efficient operations. However, revenue and profit growth inconsistencies, along with fluctuating cash flows, pose potential risks. The company should focus on stabilizing revenue streams and improving cash flow management to enhance overall financial performance.

Income Statement

Jupiter Mines Limited shows a strong gross profit margin, indicating efficient production and cost management. However, the net profit margin has been volatile, with a significant drop in recent years. Revenue growth has been inconsistent, with periods of decline, which could be a concern for future profitability. The EBIT and EBITDA margins are healthy, suggesting good operational efficiency.

Balance Sheet

The company maintains a solid balance sheet with a low debt-to-equity ratio, indicating strong financial stability and low leverage risk. The return on equity is commendable, reflecting effective use of shareholder funds. The equity ratio is robust, showcasing a strong capital structure with a high proportion of assets financed by equity.

Cash Flow

Cash flow analysis reveals fluctuations in free cash flow growth, with recent negative growth indicating potential cash management challenges. The operating cash flow to net income ratio is generally healthy, but the free cash flow to net income ratio has shown variability, suggesting inconsistencies in cash generation relative to profits.

Breakdown	TTM	Dec 2025	Dec 2024	Dec 2023	Dec 2022	Dec 2021
Income Statement
Total Revenue	9.50M	9.43M	8.07M	8.52M	7.30M	8.20M
Gross Profit	7.00M	3.92M	4.74M	4.84M	3.20M	8.20M
EBITDA	351.05K	1.52M	1.30M	1.03M	2.08M	4.22M
Net Income	76.47M	40.09M	38.87M	46.75M	53.98M	67.52M
Balance Sheet
Total Assets	577.67M	602.41M	593.38M	577.67M	532.73M	556.06M
Cash, Cash Equivalents and Short-Term Investments	49.49M	13.16M	19.06M	27.74M	39.16M	60.62M
Total Debt	504.17K	299.14K	398.14K	504.17K	52.45K	38.40K
Total Liabilities	105.77M	37.16M	50.03M	105.77M	97.41M	96.74M
Stockholders Equity	471.90M	565.25M	543.35M	471.90M	435.32M	459.32M
Cash Flow
Free Cash Flow	50.29M	752.95K	-1.87M	76.39M	1.78K	73.44M
Operating Cash Flow	49.32M	759.12K	-1.86M	76.47M	3.20K	73.44M
Investing Cash Flow	-73.66K	13.03M	12.63M	51.14M	26.61M	70.05M
Financing Cash Flow	-39.34M	-19.71M	-19.67M	-39.34M	-48.97M	-34.35M

Jupiter Mines Limited Technical Analysis

• Technical Analysis Sentiment: Positive
• Last Price: 0.28
• 50DMA: Positive
• 100DMA: Positive
• 200DMA: Positive
• MACD: Negative
• RSI: Neutral
• STOCH: Negative

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For AU:JMS, the sentiment is Positive. The current price of 0.28 is above the 20-day moving average (MA) of 0.27, above the 50-day MA of 0.27, and above the 200-day MA of 0.22, indicating a bullish trend. The MACD of <0.01 indicates Negative momentum. The RSI at 62.43 is Neutral, neither overbought nor oversold. The STOCH value of 84.42 is Negative, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for AU:JMS.

Jupiter Mines Limited Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
MLX	80 Outperform	AU$1.01B	7.59	33.38%	―	45.73%	716.15%
JMS	77 Outperform	AU$550.44M	13.73	7.01%	5.45%	16.86%	3.03%
OMH	67 Neutral	AU$248.41M	-12.83	-3.24%	1.54%	14.64%	-213.25%
Sector *	61 Neutral	$10.43B	7.12	-0.05%	2.87%	2.86%	-36.73%
MMI	51 Neutral	AU$427.76M	3.12	145.87%	―	45.56%	―
LOT	48 Neutral	AU$584.23M	-31.82	-7.50%	―	―	51.47%
SVM	46 Neutral	AU$381.69M	-9.06	-90.12%	―	―	-98.20%

Jupiter Mines Limited Corporate Events

Jupiter Mines MD Increases Shareholding as Incentive Rights Vest

Jupiter Mines has reported a change in the shareholding of Managing Director Brad Rogers, who has increased his direct holding in the company following the vesting and exercise of short-term incentive (STI) deferred rights. On 22 December 2025, Rogers converted a total of 1,050,362 rights into fully paid ordinary shares at no cash consideration, reflecting the vesting of FY23 (second tranche) and FY24 (first tranche) STI awards, lifting his shareholding to 6,345,232 shares while leaving a substantial balance of unvested STI and long‑term incentive rights on issue. The transaction underscores the alignment of executive remuneration with shareholder outcomes and indicates continued reliance on equity-based incentives in Jupiter Mines’ governance and remuneration framework.

The most recent analyst rating on (AU:JMS) stock is a Buy with a A$0.29 price target. To see the full list of analyst forecasts on Jupiter Mines Limited stock, see the AU:JMS Stock Forecast page.

Jupiter Mines Seeks ASX Quotation for Additional Ordinary Shares

Jupiter Mines Limited has applied to the ASX for quotation of 1,050,362 new fully paid ordinary shares, to trade under its existing ticker JMS. The additional shares, issued on 22 December 2025 following the exercise or conversion of existing securities, will marginally increase the company’s free float and share base, offering investors slightly expanded exposure to the stock without indicating any immediate change to its underlying operations.

The most recent analyst rating on (AU:JMS) stock is a Buy with a A$0.29 price target. To see the full list of analyst forecasts on Jupiter Mines Limited stock, see the AU:JMS Stock Forecast page.

Jupiter Mines Updates Director’s Interest with New Incentive Plan

Jupiter Mines Limited announced a change in the director’s interest, specifically regarding Brad Rogers, who acquired additional short-term and long-term deferred rights as part of an incentive plan approved by shareholders. This change, effective December 4, 2025, reflects the company’s strategy to align executive interests with shareholder value, potentially impacting the company’s operational focus and stakeholder confidence.

The most recent analyst rating on (AU:JMS) stock is a Buy with a A$0.29 price target. To see the full list of analyst forecasts on Jupiter Mines Limited stock, see the AU:JMS Stock Forecast page.

Jupiter Mines Limited Issues Unquoted Equity Securities for Employee Incentives

Jupiter Mines Limited announced the issuance of unquoted equity securities, specifically 7,594,497 performance rights and 804,292 deferred rights, as part of an employee incentive scheme. This move is aimed at aligning employee interests with company performance, potentially enhancing operational efficiency and stakeholder value.

The most recent analyst rating on (AU:JMS) stock is a Buy with a A$0.29 price target. To see the full list of analyst forecasts on Jupiter Mines Limited stock, see the AU:JMS Stock Forecast page.

Jupiter Mines Issues Unquoted Equity Securities for Employee Incentives

Jupiter Mines Limited announced the issuance of unquoted equity securities, including 7,594,497 performance rights and 804,292 deferred rights, as part of an employee incentive scheme. This move is likely aimed at aligning employee interests with company performance, potentially impacting operational efficiency and stakeholder confidence positively.

The most recent analyst rating on (AU:JMS) stock is a Buy with a A$0.29 price target. To see the full list of analyst forecasts on Jupiter Mines Limited stock, see the AU:JMS Stock Forecast page.

Jupiter Mines Limited AGM Results: All Resolutions Passed

Jupiter Mines Limited announced the results of its Annual General Meeting, where all resolutions were passed by a poll. Key decisions included the adoption of the FY25 remuneration report, re-election and confirmation of non-executive directors, and approval of short-term and long-term incentive performance rights for the CEO. The renewal of the proportional takeover provision was also approved, indicating strong shareholder support for the company’s strategic direction.

The most recent analyst rating on (AU:JMS) stock is a Buy with a A$0.29 price target. To see the full list of analyst forecasts on Jupiter Mines Limited stock, see the AU:JMS Stock Forecast page.

Jupiter Mines Limited’s FY25 Annual General Meeting Highlights

Jupiter Mines Limited held its Annual General Meeting on November 26, 2025, in Perth. The presentation provided during the meeting was for informational purposes and emphasized that it should not be considered complete or relied upon as investment advice. It highlighted that the information is subject to change and does not account for individual investment objectives or financial situations. The presentation also contained forward-looking statements, which are subject to uncertainties and risks that could affect the company’s future performance.

The most recent analyst rating on (AU:JMS) stock is a Buy with a A$0.29 price target. To see the full list of analyst forecasts on Jupiter Mines Limited stock, see the AU:JMS Stock Forecast page.

Jupiter Mines Reports Record Year and Strategic Advancements

Jupiter Mines Limited reported a record-breaking financial year in 2025 for its Tshipi manganese mine, achieving the highest-ever mining volumes and sales, leading to an increased net profit after tax of $39.9 million. The company declared a total dividend of 1.5 cents per share for FY25, reflecting a yield of around 6 percent. Jupiter Mines is advancing its five-year strategy, with significant progress in sustainability and logistics optimization, and has achieved Level 1 B-BBEE status. Additionally, the company is exploring the potential to produce high-purity manganese sulphate monohydrate for EV batteries, with successful pilot plant results. A strategic agreement with Exxaro Resources to acquire a significant interest in Tshipi and Jupiter Mines further validates the company’s strong market position and future growth prospects.

The most recent analyst rating on (AU:JMS) stock is a Buy with a A$0.29 price target. To see the full list of analyst forecasts on Jupiter Mines Limited stock, see the AU:JMS Stock Forecast page.

Jupiter Mines Limited Provides Company Update at Macquarie WA Forum

Jupiter Mines Limited has released a presentation at the Macquarie WA Forum in Perth, providing an update on the company’s current status. The presentation is intended for informational purposes and does not constitute investment advice. It highlights that the information is subject to change and includes disclaimers regarding the accuracy and completeness of the data presented. The company emphasizes that the presentation may contain forward-looking statements that are subject to uncertainties and risks, which could lead to different actual outcomes.

The most recent analyst rating on (AU:JMS) stock is a Buy with a A$0.29 price target. To see the full list of analyst forecasts on Jupiter Mines Limited stock, see the AU:JMS Stock Forecast page.

Jupiter Mines Limited Announces 2025 Annual General Meeting

Jupiter Mines Limited has announced its 2025 Annual General Meeting, scheduled for November 26, 2025, at KPMG’s offices in Perth and online. Key agenda items include financial reports, director elections, and incentive approvals, reflecting the company’s ongoing governance and strategic initiatives. This meeting is an opportunity for stakeholders to engage with the company’s leadership and auditors, ensuring transparency and alignment with shareholder interests.

The most recent analyst rating on (AU:JMS) stock is a Buy with a A$0.50 price target. To see the full list of analyst forecasts on Jupiter Mines Limited stock, see the AU:JMS Stock Forecast page.