Anglo Asian Mining (AAZ) AI Stock Analysis

• Market Cap: £308.72M
• Dividend Yield: N/A
• Average Volume (3M): 144.91K
• Price to Earnings (P/E): ―
• Beta (1Y): 0.47
• Revenue Growth: 129.53%
• EPS Growth: 70.68%
• Country: UK
• Employees: 900
• Sector: Basic Materials
• Sector Strength: 58
• Industry: Gold
• EPS (TTM): 0.03
• Shares Outstanding: 114,342,026
• 10 Day Avg. Volume: 185,327
• 30 Day Avg. Volume: 144,909
• PEG Ratio: 0.30
• Price to Book (P/B): 2.26
• Price to Sales (P/S): 3.85
• P/FCF Ratio: -61.23
• 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: N/A
• Price Target Upside: N/A
• Rating Consensus: Moderate Buy
• Number of Analyst Covering: 1
• EPS Forecast (FY): N/A
• Revenue Forecast (FY): N/A

• Rating: 56 Neutral
• Price Target: 278.00p ▲(2.96% Upside)

The overall stock score is primarily influenced by the company's financial challenges, which are significant and require strategic intervention. However, positive technical indicators and strategic corporate events provide some optimism, suggesting potential for recovery if financial issues are addressed.

Positive Factors

High‑grade flagship asset

Gedabek’s high‑grade gold and copper deposits underpin lower unit cash costs and longer useful life for core operations. High‑grade assets provide durable margin resilience versus lower grade peers and support sustained production and cash generation over the medium term.

Production expansion and product diversification

Starting copper sales from Demirli and record ore volumes diversify revenue beyond gold and signal scaling of physical output. Diversified metal streams reduce single‑commodity risk and can materially improve revenue stability if higher volumes are sustained.

Historical revenue and EPS growth momentum

Material historical revenue and EPS growth indicate the company has previously scaled production or sales effectively. This track record suggests operational capacity to recover topline and earnings if execution and cash management improve, a durable indicator of underlying potential.

Negative Factors

Negative profitability and recent revenue contraction

Negative gross and net margins and a recent 15% revenue drop indicate structural profitability issues—either cost pressures, falling realizations, or lower grades. Persistent negative margins erode reinvestment capacity and challenge the sustainability of operations without corrective action.

Severe free cash flow deterioration

An ~90% free cash flow collapse and weak OCF-to-net-income conversion signal acute liquidity strain. Sustained FCF weakness limits ability to fund capex, exploration, and debt service internally, forcing dependence on external financing and increasing long‑term execution risk.

Negative returns and rising leverage

Negative return on equity shows the business has not generated shareholder value, while rising leverage—even if moderate at D/E 0.35—reduces financial flexibility. Combined, these factors heighten refinancing risk and constrain strategic investment over the medium term.

Anglo Asian Mining Business Overview & Revenue Model

Company Description

Anglo Asian Mining PLC, together with its subsidiaries, engages in the exploration and production of gold, copper, silver, and precious metal properties in Azerbaijan. The company has a 2,500 square kilometers portfolio of gold, silver, and copper properties in western Azerbaijan. Its principal property is the Gedabek mine located in Azerbaijan. The company was incorporated in 2004 and is based in Baku, Azerbaijan.

How the Company Makes Money

Anglo Asian Mining generates revenue primarily through the extraction and sale of precious metals, particularly gold and copper. The company operates a gold and copper mine at Gedabek, where it processes ore to produce gold doré and copper concentrate, which are then sold to international markets. Key revenue streams include the direct sale of these products, alongside potential by-product revenues from silver and other minerals. Additionally, AAZ may benefit from strategic partnerships with local and international entities for resource development and processing, enhancing its operational efficiency and market reach. The company's revenues are also influenced by global commodity prices, which can fluctuate significantly based on market demand and economic conditions.

Anglo Asian Mining Financial Statement Overview

Summary

Anglo Asian Mining is facing significant financial challenges across all verticals. The income statement reflects declining revenues and negative margins, the balance sheet shows increasing leverage and negative returns, and the cash flow statement indicates liquidity issues. The company needs to address operational inefficiencies and improve cash management to stabilize its financial position.

Income Statement

Anglo Asian Mining's income statement shows a concerning trend with declining revenues and negative profit margins. The company has experienced a significant revenue decline of 15.44% in the most recent year, and both gross and net profit margins are negative, indicating operational challenges. The EBIT and EBITDA margins are also negative, reflecting inefficiencies in cost management. Overall, the income statement suggests financial instability and a need for strategic improvements.

Balance Sheet

The balance sheet reveals a moderate debt-to-equity ratio of 0.35, which is manageable but has increased over the years. The return on equity is negative, indicating that the company is not generating returns on shareholders' investments. The equity ratio is relatively stable, suggesting a solid asset base. However, the overall financial health is weakened by the negative ROE and increasing leverage.

Cash Flow

Cash flow analysis shows a troubling decline in free cash flow, with a significant negative growth rate of 89.96%. The operating cash flow to net income ratio is low, indicating challenges in converting income into cash. The free cash flow to net income ratio is negative, highlighting cash flow issues. These factors suggest liquidity concerns and the need for improved cash management.

Breakdown	TTM	Dec 2024	Dec 2023	Dec 2022	Dec 2021	Dec 2020
Income Statement
Total Revenue	67.14M	39.59M	45.85M	84.72M	92.49M	102.05M
Gross Profit	5.40M	-10.07M	-4.46M	15.76M	18.02M	41.73M
EBITDA	11.88M	-6.66M	-19.18M	25.44M	28.80M	56.65M
Net Income	-8.76M	-17.50M	-24.24M	3.66M	7.36M	23.22M
Balance Sheet
Total Assets	156.41M	146.63M	154.64M	181.18M	189.42M	179.77M
Cash, Cash Equivalents and Short-Term Investments	5.27M	886.00K	4.48M	20.41M	37.45M	39.03M
Total Debt	22.52M	23.78M	23.20M	2.71M	3.29M	1.95M
Total Liabilities	84.38M	79.25M	69.84M	67.67M	71.00M	57.81M
Stockholders Equity	72.03M	67.37M	84.69M	113.51M	118.42M	121.96M
Cash Flow
Free Cash Flow	6.28M	-2.49M	-24.33M	-3.83M	12.24M	33.80M
Operating Cash Flow	16.81M	8.58M	939.00K	13.49M	26.02M	49.54M
Investing Cash Flow	-12.35M	-10.82M	-31.84M	-20.81M	-15.73M	-15.69M
Financing Cash Flow	-1.03M	-1.30M	15.07M	-9.41M	-11.62M	-12.80M

Anglo Asian Mining Technical Analysis

• Technical Analysis Sentiment: Positive
• Last Price: 270.00
• 50DMA: Positive
• 100DMA: Positive
• 200DMA: Positive
• MACD: Positive
• RSI: Neutral
• STOCH: Neutral

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For GB:AAZ, the sentiment is Positive. The current price of 270 is above the 20-day moving average (MA) of 261.18, above the 50-day MA of 231.18, and above the 200-day MA of 180.96, indicating a bullish trend. The MACD of 12.87 indicates Positive momentum. The RSI at 64.22 is Neutral, neither overbought nor oversold. The STOCH value of 70.71 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for GB:AAZ.

Anglo Asian Mining Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
SRB	86 Outperform	£253.71M	7.75	35.69%	―	44.89%	120.82%
ALTN	78 Outperform	£382.66M	12.07	50.11%	―	61.98%	164.33%
MTL	69 Neutral	£420.55M	-14.38	-7.90%	―	26.71%	-119.70%
Sector *	61 Neutral	$10.43B	7.12	-0.05%	2.87%	2.86%	-36.73%
AAZ	56 Neutral	£308.72M	-46.56	-11.68%	―	129.53%	70.68%
AAU	49 Neutral	£39.24M	12.50	5.54%	―	―	―
KEFI	44 Neutral	£128.89M	-43.17	-9.19%	―	―	―

Anglo Asian Mining Corporate Events

Anglo Asian Mining Announces Internal Restructuring of 3.5% Shareholding

Anglo Asian Mining has disclosed an internal shareholding restructure involving Limelight Industrial Developments Limited and Yasamin Vaziri Lotfinezhad. Limelight has transferred 1,000,000 ordinary shares in the company to Mrs Lotfinezhad, reducing its direct holding to 3,038,600 shares while she now holds 1,000,000 shares in her own name. As Mrs Lotfinezhad remains the 100% beneficial owner of Limelight, her total beneficial interest is unchanged at 4,038,600 ordinary shares, representing 3.532% of Anglo Asian’s voting rights, indicating no net change in overall control but a simplification of how this stake is held.

The most recent analyst rating on (GB:AAZ) stock is a Hold with a £242.00 price target. To see the full list of analyst forecasts on Anglo Asian Mining stock, see the GB:AAZ Stock Forecast page.

Anglo Asian Mining Confirms No Bid from ACG Metals, Focuses on Growth

Anglo Asian Mining announced that ACG Metals Limited has decided not to make an offer for the company, adhering to Rule 2.8 of the City Code on Takeovers and Mergers. Despite this, Anglo Asian remains focused on creating shareholder value through ongoing production and development of its assets, including two new mines launched in the past year. The company is confident in its strategic plans to grow into a mid-tier copper producer, with new opportunities emerging from its extensive license portfolio.

The most recent analyst rating on (GB:AAZ) stock is a Hold with a £242.00 price target. To see the full list of analyst forecasts on Anglo Asian Mining stock, see the GB:AAZ Stock Forecast page.

Anglo Asian Mining Boosts Copper Production with Gedabek Plant Upgrades

Anglo Asian Mining has announced significant upgrades to its Gedabek flotation plant, including the installation of new filter presses and a thickener, which have led to record copper production in November. These enhancements are part of a broader strategy to increase efficiency and production capacity, positioning the company to meet rising global copper demand and support its growth ambitions.

The most recent analyst rating on (GB:AAZ) stock is a Hold with a £242.00 price target. To see the full list of analyst forecasts on Anglo Asian Mining stock, see the GB:AAZ Stock Forecast page.

Anglo Asian Mining Begins Copper Sales and Achieves Record Ore Mining at Demirli

Anglo Asian Mining has commenced copper concentrate sales from its new Demirli mine, selling 2,055 wet tonnes of copper concentrate to Trafigura Pte Ltd, generating $3.6 million in provisional gross sales revenue. The establishment of a dedicated logistics centre near Ganja enhances the efficiency of these sales, demonstrating a strong partnership with Trafigura. The company also achieved record ore mining volumes at Demirli, aligning with its growth strategy to increase production.

The most recent analyst rating on (GB:AAZ) stock is a Hold with a £228.00 price target. To see the full list of analyst forecasts on Anglo Asian Mining stock, see the GB:AAZ Stock Forecast page.

Anglo Asian Mining Begins Copper Sales from Demirli Mine

Anglo Asian Mining has commenced copper concentrate sales from its new Demirli mine, marking a significant step in its growth strategy. The company sold 2,055 wet tonnes of copper concentrate to Trafigura, generating $3.6 million in provisional gross sales revenue. A new logistics center near Ganja has been established to facilitate efficient sales, highlighting the strategic relationship with Trafigura. In November 2025, Anglo Asian achieved record ore mining volumes at Demirli, aligning with its strategy to increase production.

The most recent analyst rating on (GB:AAZ) stock is a Hold with a £228.00 price target. To see the full list of analyst forecasts on Anglo Asian Mining stock, see the GB:AAZ Stock Forecast page.

Anglo Asian Mining Launches New Corporate Website Amid Strategic Growth Plans

Anglo Asian Mining has launched a new corporate and investor website, marking a significant step in its evolution towards becoming a multi-asset, mid-tier mining company. The rebranding reflects the company’s growth ambitions and operational maturity, with a focus on copper as a key driver of future value. This transition is part of a strategic plan to enhance shareholder disclosure and position the company for increased growth, as it plans to bring three new mines into production by 2030.

The most recent analyst rating on (GB:AAZ) stock is a Hold with a £228.00 price target. To see the full list of analyst forecasts on Anglo Asian Mining stock, see the GB:AAZ Stock Forecast page.

Anglo Asian Mining Faces Potential Offer Amid Strategic Growth

Anglo Asian Mining PLC announced the suspension and subsequent restoration of trading of its shares following ACG Metals Limited’s consideration of a potential offer for the company. While no firm offer has been made, Anglo Asian continues to execute its growth strategy, having recently brought two new mines into production and planning further expansions. The announcement has initiated an ‘Offer Period’ under the City Code on Takeovers and Mergers, requiring shareholders to be aware of disclosure requirements. Trading is expected to resume following the announcement, and shareholders are advised to take no action at this time.

The most recent analyst rating on (GB:AAZ) stock is a Hold with a £187.00 price target. To see the full list of analyst forecasts on Anglo Asian Mining stock, see the GB:AAZ Stock Forecast page.

Anglo Asian Mining Secures Copper Sales Agreement with Trafigura

Anglo Asian Mining has secured a sales agreement with Trafigura for copper concentrate from its Demirli mine in Karabakh, Azerbaijan, which includes a $25 million revolving prepayment facility. The company has received necessary licenses from the Azerbaijani government to operate the Demirli processing plant and tailings dam, marking a significant step in its operational expansion. The first sale of concentrate is expected by mid-November 2025, enhancing the company’s production capabilities and contributing to its strategic growth plan.

The most recent analyst rating on (GB:AAZ) stock is a Hold with a £195.00 price target. To see the full list of analyst forecasts on Anglo Asian Mining stock, see the GB:AAZ Stock Forecast page.

Anglo Asian Mining Updates Share Capital and Outlines Growth Strategy

Anglo Asian Mining has announced its total issued share capital consists of 114,492,024 ordinary shares, with 150,000 held in treasury, resulting in 114,342,024 voting rights. This update is relevant for shareholders calculating their interest under FCA’s rules. The company’s strategic growth plan includes developing new mines to significantly increase copper production by 2030, enhancing its industry positioning and stakeholder value.

The most recent analyst rating on (GB:AAZ) stock is a Sell with a £177.00 price target. To see the full list of analyst forecasts on Anglo Asian Mining stock, see the GB:AAZ Stock Forecast page.

Anglo Asian Mining Achieves Record Copper Production in Q3 2025

Anglo Asian Mining PLC reported a record quarterly copper production of 2,287 tonnes in Q3 2025, marking a significant increase due to the commencement of production at the Demirli and Gilar mines. The company has revised its full-year 2025 guidance, expecting copper production between 8,100 to 9,000 tonnes and gold production between 25,000 to 28,000 ounces. This strategic shift towards copper production aligns with the company’s growth strategy, enhancing its industry positioning and operational capabilities.

The most recent analyst rating on (GB:AAZ) stock is a Hold with a £180.00 price target. To see the full list of analyst forecasts on Anglo Asian Mining stock, see the GB:AAZ Stock Forecast page.

Anglo Asian Mining Achieves Record Copper Production in Q3 2025

Anglo Asian Mining has reported a record quarterly copper production of 2,287 tonnes in Q3 2025, marking a significant increase due to the commencement of production at the Demirli and Gilar mines. This strategic shift towards copper production aligns with the company’s growth plans, enhancing its market position and operational capabilities. The company has also revised its full-year guidance for 2025, expecting copper production between 8,100 to 9,000 tonnes and gold production between 25,000 to 28,000 ounces. Despite a slight negative cash flow due to start-up expenses at Demirli, the company maintains a strong focus on cash management and cost controls.

The most recent analyst rating on (GB:AAZ) stock is a Hold with a £180.00 price target. To see the full list of analyst forecasts on Anglo Asian Mining stock, see the GB:AAZ Stock Forecast page.