Aterian PLC (GB:ATN)
LSE:ATN
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Aterian PLC
(LSE:ATN)
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Rating:45Neutral
Price Target:
29.00 p
▲(26.09% Upside)
Action:ReiteratedDate:01/30/26
The score is primarily held down by weak financial performance, including negative gross profit, large losses, and ongoing cash burn. Technicals provide only modest support due to a short-term rebound that remains below longer-term moving averages with a negative MACD. Valuation is also a headwind because the negative P/E reflects continuing unprofitability and there is no dividend yield data to offset risk.
Positive Factors
Exposure to energy transition & critical minerals
Aterian's strategic focus on electrification, decarbonisation and critical minerals (lithium, rare earths) aligns with multi-year structural demand for raw materials and enabling tech. This sector exposure can underpin durable revenue opportunities if projects are advanced and commercialized.
Negative Factors
Unprofitable core operations
Negative gross profit and large operating losses indicate the core business fails to cover direct costs, a structural issue that undermines margin sustainability. Without material business-model changes, scaling or cost cuts, the company faces persistent unprofitability that impedes long-term viability.
Read all positive and negative factors
Positive Factors
Negative Factors
Exposure to energy transition & critical minerals
Aterian's strategic focus on electrification, decarbonisation and critical minerals (lithium, rare earths) aligns with multi-year structural demand for raw materials and enabling tech. This sector exposure can underpin durable revenue opportunities if projects are advanced and commercialized.
Read all positive factors
Aterian PLC (ATN) vs. iShares MSCI United Kingdom ETF (EWC)
Market Cap
£4.86M
Dividend YieldN/A
Average Volume (3M)3.21K
Price to Earnings (P/E)―
Beta (1Y)0.38
Revenue GrowthN/A
EPS GrowthN/A
CountryUK
Employees21
SectorBasic Materials
Sector Strength58
IndustryIndustrial Materials
Share Statistics
EPS (TTM)-0.06
Shares Outstanding17,684,000
10 Day Avg. Volume2,211
30 Day Avg. Volume3,209
Financial Highlights & Ratios
PEG Ratio-0.08
Price to Book (P/B)2.30
Price to Sales (P/S)126.92
P/FCF Ratio-4.23
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price TargetN/A
Price Target UpsideN/A
Rating ConsensusN/A
Number of Analyst Covering0
EPS Forecast (FY)N/A
Revenue Forecast (FY)N/A
Aterian PLC Business Overview & Revenue Model
Company Description
Aterian plc engages in the exploration and development of mineral properties in Africa. The company primarily explores for tin, tungsten, and tantalum. Its projects include the Kuaka Mine, a tantalum mine site that is on the eastern shore of Lake ...
How the Company Makes Money
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Aterian PLC Financial Statement Overview
Summary
Income Statement
8
Very Negative
Balance Sheet
42
Neutral
Cash Flow
18
Very Negative
| Breakdown | TTM | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 | Jun 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 62.00K | 42.00K | 0.00 | 0.00 | 0.00 | 0.00 |
| Gross Profit | 11.00K | -24.00K | -16.00K | -22.00K | -2.00K | -23.00K |
| EBITDA | -1.91M | -1.53M | -992.00K | -4.35M | -1.35M | -241.00K |
| Net Income | -1.81M | -1.62M | -1.06M | -4.38M | -1.37M | -281.00K |
Balance Sheet | ||||||
| Total Assets | 3.65M | 3.70M | 4.21M | 4.09M | 3.78M | 3.65M |
| Cash, Cash Equivalents and Short-Term Investments | 47.00K | 64.00K | 73.00K | 110.00K | 196.00K | 52.00K |
| Total Debt | 754.00K | 666.00K | 225.00K | 151.00K | 158.00K | 219.00K |
| Total Liabilities | 1.85M | 1.39M | 793.00K | 747.00K | 355.00K | 329.00K |
| Stockholders Equity | 1.80M | 2.31M | 3.42M | 3.34M | 3.42M | 3.32M |
Cash Flow | ||||||
| Free Cash Flow | -1.05M | -1.26M | -1.19M | -819.00K | -1.44M | -959.00K |
| Operating Cash Flow | -976.00K | -1.14M | -1.18M | -809.00K | -1.20M | -528.00K |
| Investing Cash Flow | 179.00K | 112.00K | -5.00K | -118.00K | -243.00K | -431.00K |
| Financing Cash Flow | 965.00K | 1.02M | 1.13M | 841.00K | 1.59M | 767.00K |
Aterian PLC Peers Comparison
UnderperformOutperform
Sector (61)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
61 Neutral | $10.43B | 7.12 | -0.05% | 2.87% | 2.86% | -36.73% | |
48 Neutral | £4.25M | -1.28 | -44.38% | ― | 1.77% | 33.33% | |
46 Neutral | £14.74M | ― | -10.34% | ― | -93.51% | 12.50% | |
45 Neutral | £4.86M | -1.67 | -68.64% | ― | ― | ― | |
43 Neutral | £4.29M | -0.78 | -44.29% | ― | ― | ― | |
41 Neutral | £3.12M | -2,196.99 | -0.07% | ― | ― | ― |
* Basic Materials Sector Average
GB:ATN
Aterian PLC
27.50
-12.50
-31.25%
GB:ALBA
Alba Mineral Resources
0.02
<0.01
12.50%
GB:PREM
Premier African Minerals
0.01
-0.23
-94.69%
GB:TYM
Tertiary Minerals
0.08
0.04
74.47%
GB:IMC
IMC Exploration Group Plc
1.80
1.28
242.86%
GB:FRG
Firering Strategic Minerals Plc
1.20
-2.15
-64.18%
Aterian PLC Corporate Events
Business Operations and StrategyPrivate Placements and Financing
Aterian Raises £150,000 via Convertible Notes to Expand Critical Metals Trading
Positive
Mar 12, 2026
Aterian plc has raised £150,000 through the issue of zero-coupon convertible loan notes to a longstanding shareholder, mandatorily convertible into ordinary shares at 25 pence by end-2027 and redeemable at par at the company’s discretio...
Delistings and Listing ChangesRegulatory Filings and Compliance
Aterian Applies for Admission of New Fee Shares, Updates Voting Rights
Neutral
Mar 6, 2026
Aterian PLC has applied for admission of 88,000 new fee shares to trading on the London Stock Exchange, with admission expected around 10 March 2026. Following this issue, the company’s total issued share capital will increase to 17,684,000 ...
Regulatory Filings and Compliance
Aterian Confirms Updated Total Voting Rights for Shareholders
Neutral
Feb 27, 2026
Aterian Plc has confirmed that, as of 27 February 2026, its issued share capital comprises 17,684,000 ordinary shares of £0.10 each, with one vote per share and no shares held in treasury. This disclosure sets the official total of voting rig...
Business Operations and StrategyPrivate Placements and FinancingRegulatory Filings and Compliance
Aterian Wins EIA Approval and Secures Funding for Agdz Copper-Silver Project in Morocco
Positive
Feb 26, 2026
Aterian has secured approval of its Environmental Impact Assessment for the 100%-owned Agdz copper-silver mining licence in Morocco, a key regulatory milestone that materially de-risks the project and confirms strong stakeholder support. The clear...
Business Operations and StrategyPrivate Placements and Financing
Aterian Raises £450,000 to Scale Rwandan Critical Minerals Trading Platform
Positive
Feb 19, 2026
Aterian plc has raised £350,000 via a subscription for 1,000,000 new shares at 25 pence each and an additional £100,000 through the issue of payment-in-kind convertible bonds to an existing shareholder. The equity subscribers receive 500...
Business Operations and StrategyPrivate Placements and Financing
Aterian Strikes Landmark Tantalum Funding and Marketing Deal in Rwanda
Positive
Feb 9, 2026
Aterian plc has agreed heads of terms for a strategic commercial and funding partnership covering 100% of its Rwandan-origin tantalum concentrate production, in what it describes as the most significant commercial agreement in its history. The dea...
Business Operations and Strategy
Aterian Uncovers Soda Ash-Style Brines at Botswana’s Sua Pan Project
Positive
Feb 4, 2026
Aterian has reported early-stage results from a groundwater reconnaissance and sampling programme at its Sua Pan Brine Project in Botswana, confirming highly saline, alkaline, sodium-carbonate-rich brines across the licence area. The chemistry, ch...
Business Operations and Strategy
Aterian Marks Scale Potential at Moroccan Agdz Est with New Copper-Silver Zones
Positive
Jan 29, 2026
Aterian has reported encouraging early-stage surface sampling results from its 100%-owned Agdz Est copper-silver project in central Morocco, identifying multiple structurally controlled mineralised fault zones that materially extend the known foot...
Business Operations and Strategy
Aterian Flags Strong Geophysical Results at Botswana Copper Licence
Positive
Jan 15, 2026
Aterian plc has reported positive results from an independent geophysical study over its wholly owned Prospecting Licence PL265/2025 in Botswana’s Kalahari Copperbelt, confirming the licence’s position within a proven copper-silver dis...
Other
Aterian Chair Charles Bray Increases Stake with Share Purchase
Positive
Jan 7, 2026
Aterian Plc has disclosed that its Executive Chairperson and director, Charles Bray, purchased 100,000 ordinary shares in the company on 6 January 2026 at a price of £0.25795 per share, for a total consideration of £25,795. The director ...
Business Operations and StrategyFinancial Disclosures
Aterian Builds Profitable, Traceable Mineral Trading Platform in Rwanda
Positive
Jan 5, 2026
Aterian plc reported that its Rwandan mineral trading operations generated an unaudited gross profit of about US$145,000 in the fourth quarter of 2025, despite trading volumes falling below management targets as the company prioritised traceabilit...
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.