Beowulf Mining Plc (GB:BEM)
LSE:BEM
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Beowulf Mining
(LSE:BEM)
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Rating:41Neutral
Price Target:
5.50 p
▼(-47.62% Downside)
Action:ReiteratedDate:03/10/26
The score is primarily constrained by weak financial performance (no revenue, ongoing losses, and consistent cash burn) and bearish technicals (trading well below major moving averages with negative MACD). Low leverage and some improvement versus 2023 provide limited support, but valuation signals remain weak due to negative earnings and no indicated dividend.
Positive Factors
Low Leverage
Very low debt materially reduces refinancing and solvency risk for an exploration company. This durable balance-sheet strength gives management flexibility to time capital raises, pursue permitting/technical studies and preserve optionality without heavy interest burdens over the coming months.
Negative Factors
Pre-revenue Status
No revenue for multiple years confirms the company remains pre-revenue and unable to monetize projects to date. This structural lack of operating income necessitates ongoing external financing and heightens execution risk as the business must fund exploration and permitting until commercial production or sale.
Read all positive and negative factors
Positive Factors
Negative Factors
Low Leverage
Very low debt materially reduces refinancing and solvency risk for an exploration company. This durable balance-sheet strength gives management flexibility to time capital raises, pursue permitting/technical studies and preserve optionality without heavy interest burdens over the coming months.
Read all positive factors
Beowulf Mining (BEM) vs. iShares MSCI United Kingdom ETF (EWC)
Market Cap
£3.50M
Dividend YieldN/A
Average Volume (3M)16.99K
Price to Earnings (P/E)―
Beta (1Y)0.86
Revenue GrowthN/A
EPS Growth42.24%
CountryUK
Employees15
SectorBasic Materials
Sector Strength58
IndustryIndustrial Materials
Share Statistics
EPS (TTM)>-0.01
Shares Outstanding63,703,710
10 Day Avg. Volume10,193
30 Day Avg. Volume16,986
Financial Highlights & Ratios
PEG Ratio0.09
Price to Book (P/B)0.31
Price to Sales (P/S)0.00
P/FCF Ratio-4.14
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
Beowulf Mining Business Overview & Revenue Model
Company Description
Beowulf Mining (BEM) is a mineral exploration and development company focused on identifying and advancing natural resource projects in the Nordic region, primarily Sweden and Finland. The company's portfolio includes a range of activities from ea...
How the Company Makes Money
null...
Beowulf Mining Financial Statement Overview
Summary
Income Statement
12
Very Negative
Balance Sheet
62
Positive
Cash Flow
18
Very Negative
| Breakdown | TTM | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Gross Profit | 0.00 | -68.79K | -63.33K | -72.75K | -51.49K | -42.42K |
| EBITDA | -1.84M | -1.49M | -1.66M | -2.67M | -1.69M | -1.44M |
| Net Income | -1.90M | -1.75M | -1.77M | -2.86M | -1.95M | -1.35M |
Balance Sheet | ||||||
| Total Assets | 18.78M | 19.42M | 17.21M | 16.09M | 15.15M | 14.90M |
| Cash, Cash Equivalents and Short-Term Investments | 773.20K | 329.65K | 881.35K | 905.55K | 1.78M | 3.34M |
| Total Debt | 40.37K | 257.70K | 30.73K | 37.63K | 1.87M | 7.49K |
| Total Liabilities | 395.36K | 901.45K | 538.86K | 471.29K | 2.49M | 404.58K |
| Stockholders Equity | 18.39M | 18.52M | 16.67M | 15.11M | 12.09M | 14.17M |
Cash Flow | ||||||
| Free Cash Flow | 0.00 | -1.39M | -1.25M | -4.51M | -3.11M | -2.17M |
| Operating Cash Flow | 0.00 | -1.39M | -1.25M | -2.17M | -1.54M | -1.35M |
| Investing Cash Flow | 0.00 | -1.48M | -2.12M | -2.25M | -1.50M | -773.16K |
| Financing Cash Flow | 0.00 | 2.27M | 3.47M | 3.64M | 1.55M | 1.40M |
Beowulf Mining Technical Analysis
Negative
10.50
Price Trends
7.51
Negative
9.02
Negative
9.75
Negative
Market Momentum
-0.62
Negative
31.33
Neutral
48.28
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For GB:BEM, the sentiment is Negative. The current price of 10.5 is above the 20-day moving average (MA) of 6.14, above the 50-day MA of 7.51, and above the 200-day MA of 9.75, indicating a bearish trend. The MACD of -0.62 indicates Negative momentum. The RSI at 31.33 is Neutral, neither overbought nor oversold. The STOCH value of 48.28 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for GB:BEM.
Beowulf Mining 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% | |
52 Neutral | £5.28M | ― | ― | ― | ― | ― | |
50 Neutral | £6.88M | -3.31 | -32.02% | ― | ― | ― | |
45 Neutral | £3.17M | -4.86 | -13.01% | ― | ― | ― | |
43 Neutral | £6.03M | -1.02 | -66.28% | ― | ― | 4.26% | |
41 Neutral | £3.50M | -3.30 | -10.21% | ― | ― | 42.24% | |
40 Underperform | £6.00M | -0.53 | ― | ― | -76.58% | 83.44% |
* Basic Materials Sector Average
GB:BEM
Beowulf Mining
5.50
-7.50
-57.69%
GB:IRON
Ironveld
0.03
-0.02
-37.50%
GB:ARCM
ARC Minerals
0.48
-1.05
-68.75%
GB:THR
Thor Mining
0.59
0.08
17.00%
GB:VAST
Vast Resources
0.12
-0.14
-53.85%
GB:PXC
Phoenix Copper
1.10
-2.65
-70.67%
Beowulf Mining Corporate Events
Business Operations and StrategyM&A TransactionsPrivate Placements and FinancingRegulatory Filings and Compliance
Beowulf Mining Flags Urgent Funding Needs as Vardar Sale and Grafintec Financing Advance
Negative
Mar 31, 2026
Beowulf Mining has warned that it must secure near-term financing to continue progressing its projects and to meet working-capital needs, with talks at an advanced stage but no certainty on timing or terms. The company reiterated its longer-term f...
Private Placements and FinancingRegulatory Filings and Compliance
Beowulf Mining Issues New Shares Following Loan Note Conversion
Neutral
Mar 25, 2026
Beowulf Mining has received a notice from an investor to convert £50,000 of unsecured convertible loan notes into 925,925 new ordinary shares, each with a nominal value of 5 pence. This conversion reduces the company’s outstanding loan ...
Business Operations and StrategyPrivate Placements and Financing
Beowulf Wins EIT Backing for Nordic Slurry Pipeline Initiative
Positive
Mar 18, 2026
Beowulf Mining’s Jokkmokk Iron-led consortium has secured a conditional €1.1 million grant from EIT RawMaterials toward the €2.4 million NordicPipe project, aimed at developing a long-distance slurry pipeline for transporting iro...
Business Operations and StrategyPrivate Placements and Financing
Beowulf Mining Converts £50,000 of Loan Notes Into Equity
Neutral
Mar 9, 2026
Beowulf Mining has received a request from an investor to convert £50,000 of its unsecured convertible loan notes into equity, issuing 793,650 new ordinary shares of 5 pence each. The move reduces outstanding debt and modestly increases the c...
Delistings and Listing ChangesPrivate Placements and Financing
Beowulf Mining Converts £50,000 of Loan Notes Into Equity
Neutral
Mar 9, 2026
Beowulf Mining has received a notice from an investor to convert £50,000 of unsecured convertible loan notes into equity, resulting in the issuance of 793,650 new ordinary shares. The move modestly increases the company’s share capital ...
Business Operations and StrategyFinancial DisclosuresM&A TransactionsPrivate Placements and Financing
Beowulf Mining Narrows Loss as Kallak and Finnish Graphite Project Move Forward
Neutral
Feb 27, 2026
Beowulf Mining reported unaudited 2025 results alongside operational progress across its Nordic portfolio, highlighting a narrowing annual loss and lower administration expenses despite reduced year-end cash. In Sweden, the company advanced the Ka...
Regulatory Filings and Compliance
Beowulf Mining Confirms Updated Share Capital and Voting Rights
Neutral
Feb 27, 2026
Beowulf Mining has reported that its total issued share capital now comprises 61,984,132 ordinary shares of 5 pence each, with none held in treasury. This updated share count provides the reference figure shareholders must use when calculating whe...
Private Placements and FinancingRegulatory Filings and Compliance
Beowulf Mining Converts £50,000 of Loan Notes Into Equity
Neutral
Feb 24, 2026
Beowulf Mining has received notice from an investor to convert £50,000 of its unsecured convertible loan notes into equity, resulting in the issuance of 793,650 new ordinary shares. The move marginally dilutes existing shareholders but reduce...
Private Placements and FinancingRegulatory Filings and Compliance
Beowulf Mining Issues New Shares Following Loan Note Conversion
Neutral
Feb 6, 2026
Beowulf Mining has announced the conversion of £25,000 of its unsecured convertible loan notes into equity, issuing 347,222 new ordinary shares of 5 pence each to the investor. The new shares are expected to begin trading on AIM on 11 Februar...
Financial DisclosuresRegulatory Filings and ComplianceShareholder Meetings
Beowulf Mining Confirms Share Capital and Sets 2026 Reporting Timetable
Neutral
Jan 30, 2026
Beowulf Mining has confirmed that its total issued share capital stands at 60,843,260 ordinary shares of 5 pence each, with no shares held in treasury, providing investors with the reference denominator required for regulatory disclosures of signi...
Business Operations and StrategyPrivate Placements and Financing
Beowulf Mining Converts £50,000 of Loan Notes Into Equity
Positive
Jan 22, 2026
Beowulf Mining has announced the conversion of £50,000 of its unsecured convertible loan notes into equity, resulting in the issue of 790,263 new ordinary shares of 5 pence each to the investor. The new shares are expected to be admitted to t...
Business Operations and StrategyPrivate Placements and Financing
Beowulf Mining Advances Nordic Projects as It Races to Secure Long-Term Funding
Neutral
Jan 21, 2026
Beowulf Mining has secured short-term funding and is pursuing several longer-term financing avenues, including a proposed sale of Vardar Minerals and a potential €7 million RD loan for its Finnish subsidiary Grafintec, although these remain ...
Private Placements and FinancingRegulatory Filings and Compliance
Beowulf Mining Converts £25,000 of Loan Notes Into New Shares
Neutral
Jan 14, 2026
Beowulf Mining has received a notice from its investor to convert £25,000 of unsecured convertible loan notes into 395,131 new ordinary shares of 5 pence each. The new shares are expected to be admitted to trading on AIM on 19 January 2026, t...
Business Operations and StrategyPrivate Placements and Financing
Beowulf Mining Issues New Shares Following £25,000 Loan Note Conversion
Neutral
Jan 14, 2026
Beowulf Mining has announced the conversion of £25,000 of its unsecured convertible loan notes into equity, resulting in the issue of 395,131 new ordinary shares of 5 pence each to the investor. The new shares are expected to be admitted to t...
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.