Mineral & Financial Investments (MAFL) AI Stock Analysis

• Market Cap: £20.85M
• Dividend Yield: N/A
• Average Volume (3M): 133.83K
• Price to Earnings (P/E): 9.4
• Beta (1Y): -0.08
• Revenue Growth: -79.36%
• EPS Growth: 78.16%
• Country: UK
• Employees: 2
• Sector: Financial
• Sector Strength: 70
• Industry: Asset Management
• EPS (TTM): 0.03
• Shares Outstanding: 37,905,872
• 10 Day Avg. Volume: 161,341
• 30 Day Avg. Volume: 133,831
• PEG Ratio: 0.51
• Price to Book (P/B): 0.64
• Price to Sales (P/S): 6.31
• P/FCF Ratio: -13.38
• 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: N/A
• Number of Analyst Covering: 0
• EPS Forecast (FY): N/A
• Revenue Forecast (FY): N/A

• Rating: 67 Neutral
• Price Target: 60.00p ▲(37.93% Upside)

The score is primarily driven by strong solvency (very low leverage and growing equity) and positive technical momentum (price above major moving averages with a positive MACD). This is tempered by persistent negative operating/free cash flow and volatile operating performance, which reduce confidence in the durability of reported earnings despite a low P/E.

Positive Factors

Balance-sheet strength / very low leverage

Extremely low reported debt versus substantial equity provides durable solvency and financial flexibility. This capital buffer allows the firm to withstand investment drawdowns, support day-to-day operations, and fund strategic choices without relying on high-cost borrowing.

Rising equity base over time

Material growth in equity over multiple years indicates capital accumulation or retained earnings that strengthen the firm’s risk-absorbing capacity. A larger equity base improves resilience to operating volatility and increases optionality for funding investments or absorbing write-downs.

Lean operating footprint

A very small headcount reflects a low fixed-cost, asset-management operating model that can scale revenue without proportional payroll increases. If core fee income stabilizes, this structural cost advantage supports margin sustainability and higher long-term operating leverage.

Negative Factors

Consistent negative operating and free cash flow

Persistent operating cash deficits over multiple years erode liquidity and force reliance on portfolio monetizations or external financings. Negative cash generation undermines self-funded growth and increases execution risk for long-term strategies despite accounting profits.

Volatile operating performance and earnings quality

Sharp swings in revenue and operating profit across years indicate earnings are driven by non-core items and fair-value adjustments. This volatility reduces predictability of fee income and weakens confidence in recurring profitability and management’s ability to deliver steady returns.

Dependence on asset realizations or external funding

Because cash flows are negative, the business must periodically monetize assets or raise funds, which can force sales at inopportune times and compress long-term returns. This structural dependency increases strategic and market-timing risk to durable growth.

Mineral & Financial Investments Business Overview & Revenue Model

Company Description

Mineral & Financial Investments Limited, an investment company, invests in natural resources, minerals, metals, and oil and gas projects in the Cayman Islands. The company is based in Grand Cayman, the Cayman Islands.

How the Company Makes Money

Mineral & Financial Investments (MAFL) makes money through a combination of capital appreciation and income from its investments in the mining and natural resources sector. The company's revenue streams include dividends and interest from its portfolio of investments, as well as potential capital gains from the sale of these investments. MAFL may also receive income from joint ventures or partnerships with mining companies, wherein it may share in the profits generated by these operations. By strategically selecting investments with strong growth potential or stable income, MAFL aims to enhance shareholder value and achieve its financial objectives.

Mineral & Financial Investments Financial Statement Overview

Summary

Balance sheet strength is a major positive (minimal debt vs sizable and growing equity), and 2025 shows strong reported profitability with a sharp revenue rebound. However, operating consistency is weak across prior years and cash flow is persistently negative, lowering earnings quality and visibility.

Income Statement

Profitability is headline-strong in the most recent annual period (2025) with positive EBIT (£2.32m) and net income (£2.17m), alongside a sharp rebound in revenue to £1.39m (+216.9% YoY). However, results are volatile: several prior years show negative EBIT/EBITDA (2021–2024) despite positive net income, and 2024 even had negative revenue—suggesting earnings are heavily influenced by non-operating or fair-value items rather than stable fee income. Overall: improving top-line and reported earnings, but low visibility and uneven operating performance.

Balance Sheet

The balance sheet is conservatively financed with minimal debt (about £16k debt vs £13.67m equity in 2025), implying very low leverage and strong solvency. Equity and assets have also grown materially over time (equity rising from ~£5.47m in 2020 to ~£13.67m in 2025), which supports financial resilience. The main weakness is not leverage but quality/consistency of returns, given the business shows volatile operating profitability in earlier years.

Cash Flow

Cash generation is weak and consistently negative: operating cash flow has been negative every year shown, including -£653k in 2025 and -£504k in 2024, with free cash flow matching those deficits. While free cash flow improved modestly in 2024 and 2025 versus prior years, the company is still burning cash, which can pressure liquidity over time and increases dependence on portfolio realizations, asset sales, or external funding despite the low debt load.

Breakdown	TTM	Dec 2024	Dec 2023	Dec 2022	Dec 2021	Dec 2020
Income Statement
Total Revenue	1.39M	1.39M	-219.00K	119.00K	128.00K	99.00K
Gross Profit	0.00	1.35M	20.00K	96.00K	108.00K	80.00K
EBITDA	2.32M	2.32M	-441.00K	-469.00K	-403.00K	-242.00K
Net Income	2.17M	2.17M	2.00M	1.55M	899.00K	964.00K
Balance Sheet
Total Assets	14.15M	14.15M	11.80M	9.75M	7.68M	6.70M
Cash, Cash Equivalents and Short-Term Investments	10.20M	10.20M	11.78M	9.72M	7.66M	6.68M
Total Debt	16.00K	16.00K	10.00K	10.00K	10.00K	10.00K
Total Liabilities	475.00K	475.00K	358.00K	323.00K	228.00K	266.00K
Stockholders Equity	13.67M	13.67M	11.45M	9.42M	7.45M	6.44M
Cash Flow
Free Cash Flow	-653.00K	-653.00K	-504.00K	-620.00K	-348.00K	-272.00K
Operating Cash Flow	-653.00K	-653.00K	-504.00K	-620.00K	-348.00K	-272.00K
Investing Cash Flow	660.00K	660.00K	-151.00K	652.00K	-50.00K	852.00K
Financing Cash Flow	61.00K	61.00K	0.00	282.00K	25.00K	0.00

Mineral & Financial Investments Technical Analysis

• Technical Analysis Sentiment: Positive
• Last Price: 43.50
• 50DMA: Positive
• 100DMA: Positive
• 200DMA: Positive
• MACD: Negative
• RSI: Neutral
• STOCH: Neutral

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For GB:MAFL, the sentiment is Positive. The current price of 43.5 is below the 20-day moving average (MA) of 48.70, above the 50-day MA of 42.11, and above the 200-day MA of 30.75, indicating a bullish trend. The MACD of 3.38 indicates Negative momentum. The RSI at 65.73 is Neutral, neither overbought nor oversold. The STOCH value of 75.47 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for GB:MAFL.

Mineral & Financial Investments Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
Sector *	68 Neutral	$18.00B	11.42	9.92%	3.81%	9.73%	1.22%
MAFL	67 Neutral	£20.85M	9.42	―	―	-79.36%	78.16%
IIG	56 Neutral	£303.68M	-59.95	-1.34%	―	962.39%	-71.54%
EMVC	52 Neutral	£15.52M	-5.79	-14.80%	―	30.40%	23.48%
450	44 Neutral	£14.09M	-19.09	-21.85%	―	―	―
FIPP	43 Neutral	£9.45M	-1.29	-14.62%	―	-9.22%	-386.93%
TEAM	41 Neutral	£17.14M	-3.16	-36.43%	―	59.01%	-164.94%

Mineral & Financial Investments Corporate Events

Mineral & Financial Investments Converts 950,000 RSUs Into Ordinary Shares for Directors

Mineral & Financial Investments Limited has converted 950,000 fully vested Restricted Share Units into new ordinary shares for its chairman, chief executive and a non-executive director at nil cost under its 2021 RSU Scheme, increasing directors’ direct holdings, with CEO Jacques Vaillancourt’s total interest, including indirect holdings and unvested RSUs, rising to 20.4% of the company. Application has been made for the new shares to be admitted to trading on AIM on 5 February 2026, taking the company’s issued share capital with voting rights to 38,855,871 ordinary shares, a change that modestly dilutes existing shareholders while further aligning management incentives with equity performance.

The most recent analyst rating on (GB:MAFL) stock is a Hold with a £59.00 price target. To see the full list of analyst forecasts on Mineral & Financial Investments stock, see the GB:MAFL Stock Forecast page.

Mineral & Financial Investments Shareholders Back All AGM Resolutions

Mineral & Financial Investments Limited reported that all resolutions at its Annual General Meeting held on 19 January 2026 for the fiscal period ending 30 June 2025 were passed by shareholders following a poll. Investors unanimously approved the annual accounts, reappointed the auditors, and re-elected director James E. Lesser, while also granting the board authority to allot shares, disapply pre-emption rights, and undertake share buy-backs, reinforcing the company’s financial flexibility and governance framework for the coming year.

The most recent analyst rating on (GB:MAFL) stock is a Buy with a £54.00 price target. To see the full list of analyst forecasts on Mineral & Financial Investments stock, see the GB:MAFL Stock Forecast page.

Mineral & Financial Investments lifts NAV 31% on surging commodity prices

Mineral and Financial Investments reported a sharp improvement in first-quarter performance to 30 September 2025, with net asset value rising 31.3% year on year to £15.1m and fully diluted NAV per share up 29.6% to 37.9p, reflecting strong gains in precious and base metal holdings. Unaudited fully diluted earnings per share jumped to 3.44p from 0.14p a year earlier, while investable capital grew 31% to £15.6m, supported by higher prices for gold, silver and rhodium and a substantial increase in cash, although more than half of the portfolio remains in unquoted investments that have not yet been revalued; management argues that mounting geopolitical and economic turbulence should continue to drive investor demand for precious metals and underpin the sector’s outlook.

The most recent analyst rating on (GB:MAFL) stock is a Buy with a £54.00 price target. To see the full list of analyst forecasts on Mineral & Financial Investments stock, see the GB:MAFL Stock Forecast page.

Mineral & Financial Investments Delivers 19.5% NAV Growth Amid Mining Sector Recovery

Mineral & Financial Investments reported a strong set of audited results for the year to 30 June 2025, with net asset value rising 19.5% year-on-year to £13.68m and fully diluted NAV per share up 18.5% to 34.5p, despite an 8% decline in the US dollar against sterling, which adversely affected its largely dollar-denominated portfolio. Gross income increased to £2.9m, pre-tax profit climbed to £2.21m, and net profit reached £2.17m, extending a compound annual NAV growth rate of 26.6% since 2018, while the company maintained a debt-free balance sheet and expanded investable capital to £14.1m. Management highlighted that a nascent recovery in metals and mining, aided by moderating inflation, stable interest rates and firmer precious metals prices, has underpinned performance, and argued that persistent fiscal deficits in the US and a relatively weaker dollar should continue to support commodity and particularly precious metal prices, reinforcing the company’s strategic focus on the sector.