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29M

29MetalsASX:29M Stock Report

Market Cap

AU$1.3b

7D

2.2%

1Y

n/a

Updated

20 Oct, 2021

Data

Company Financials +
29M fundamental analysis
Snowflake Score
Valuation3/6
Future Growth4/6
Past Performance1/6
Financial Health3/6
Dividends0/6

29M Overview

29Metals Limited operates as a copper focused base and precious metals mining company.

29Metals Competitors

Price History & Performance

Summary of all time highs, changes and price drops for 29Metals
Historical stock prices
Current Share PriceAU$2.74
52 Week HighAU$1.90
52 Week LowAU$2.95
Beta0
1 Month Change15.61%
3 Month Change19.13%
1 Year Changen/a
3 Year Changen/a
5 Year Changen/a
Change since IPO34.31%

Recent News & Updates

Shareholder Returns

29MAU Metals and MiningAU Market
7D2.2%1.8%1.5%
1Yn/a11.3%21.1%

Return vs Industry: Insufficient data to determine how 29M performed against the Australian Metals and Mining industry.

Return vs Market: Insufficient data to determine how 29M performed against the Australian Market.

Price Volatility

Is 29M's price volatile compared to industry and market?
29M volatility
29M Beta0
Industry Beta0.97
Market Beta1

Stable Share Price: 29M is not significantly more volatile than the rest of Australian stocks over the past 3 months, typically moving +/- 6% a week.

Volatility Over Time: Insufficient data to determine 29M's volatility change over the past year.

About the Company

FoundedEmployeesCEOWebsite
20211,130Peter Geoffrey Alberthttps://www.29metals.com

29Metals Limited operates as a copper focused base and precious metals mining company. The company explores copper, zinc, gold, and silver deposits. It holds interest in the Golden Grove mine located in the mid-west region of Western Australia; and Capricorn Copper mine located in Queensland.

29Metals Fundamentals Summary

How do 29Metals's earnings and revenue compare to its market cap?
29M fundamental statistics
Market CapAU$1.32b
Earnings (TTM)AU$33.19m
Revenue (TTM)AU$625.11m

39.7x

P/E Ratio

2.1x

P/S Ratio

Earnings & Revenue

Key profitability statistics from the latest earnings report
29M income statement (TTM)
RevenueAU$625.11m
Cost of RevenueAU$557.74m
Gross ProfitAU$67.38m
ExpensesAU$34.18m
EarningsAU$33.19m

Last Reported Earnings

Dec 31, 2020

Next Earnings Date

Oct 21, 2021

Earnings per share (EPS)0.069
Gross Margin10.78%
Net Profit Margin5.31%
Debt/Equity Ratio28.2%

How did 29M perform over the long term?

See historical performance and comparison

Valuation

Is 29Metals undervalued compared to its fair value and its price relative to the market?

>50%

Undervalued compared to fair value


Share Price vs. Fair Value

Below Fair Value: 29M (A$2.74) is trading below our estimate of fair value (A$9.57)

Significantly Below Fair Value: 29M is trading below fair value by more than 20%.


Price To Earnings Ratio

PE vs Industry: 29M is poor value based on its PE Ratio (39.7x) compared to the Australian Metals and Mining industry average (14.3x).

PE vs Market: 29M is poor value based on its PE Ratio (39.7x) compared to the Australian market (19.7x).


Price to Earnings Growth Ratio

PEG Ratio: 29M is poor value based on its PEG Ratio (1.1x)


Price to Book Ratio

PB vs Industry: 29M is good value based on its PB Ratio (1.8x) compared to the AU Metals and Mining industry average (2.6x).


Future Growth

How is 29Metals forecast to perform in the next 1 to 3 years based on estimates from 5 analysts?

34.8%

Forecasted annual earnings growth


Earnings and Revenue Growth Forecasts


Analyst Future Growth Forecasts

Earnings vs Savings Rate: 29M's forecast earnings growth (34.8% per year) is above the savings rate (1.9%).

Earnings vs Market: 29M's earnings (34.8% per year) are forecast to grow faster than the Australian market (11.9% per year).

High Growth Earnings: earnings are expected to grow significantly over the next 3 years.

Revenue vs Market: 29M's revenue (7.8% per year) is forecast to grow faster than the Australian market (5.4% per year).

High Growth Revenue: 29M's revenue (7.8% per year) is forecast to grow slower than 20% per year.


Earnings per Share Growth Forecasts


Future Return on Equity

Future ROE: 29M's Return on Equity is forecast to be low in 3 years time (13.5%).


Past Performance

How has 29Metals performed over the past 5 years?

-59.3%

Last years earnings growth


Earnings and Revenue History

Quality Earnings: 29M has high quality earnings.

Growing Profit Margin: 29M's current net profit margins (5.3%) are lower than last year (12.4%).


Past Earnings Growth Analysis

Earnings Trend: Insufficient data to determine if 29M's year-on-year earnings growth rate was positive over the past 5 years.

Accelerating Growth: 29M's has had negative earnings growth over the past year, so it can't be compared to its 5-year average.

Earnings vs Industry: 29M had negative earnings growth (-59.3%) over the past year, making it difficult to compare to the Metals and Mining industry average (35.3%).


Return on Equity

High ROE: 29M's Return on Equity (4.6%) is considered low.


Financial Health

How is 29Metals's financial position?


Financial Position Analysis

Short Term Liabilities: 29M's short term assets (A$232.2M) exceed its short term liabilities (A$175.3M).

Long Term Liabilities: 29M's short term assets (A$232.2M) do not cover its long term liabilities (A$363.9M).


Debt to Equity History and Analysis

Debt Level: 29M's debt to equity ratio (28.2%) is considered satisfactory.

Reducing Debt: Insufficient data to determine if 29M's debt to equity ratio has reduced over the past 5 years.

Debt Coverage: 29M's debt is well covered by operating cash flow (75.4%).

Interest Coverage: 29M's interest payments on its debt are not well covered by EBIT (2.2x coverage).


Balance Sheet


Dividend

What is 29Metals's current dividend yield, its reliability and sustainability?

0.81%

Forecast Dividend Yield


Dividend Yield vs Market

Notable Dividend: Unable to evaluate 29M's dividend yield against the bottom 25% of dividend payers, as the company has not reported any recent payouts.

High Dividend: Unable to evaluate 29M's dividend yield against the top 25% of dividend payers, as the company has not reported any recent payouts.


Stability and Growth of Payments

Stable Dividend: Insufficient data to determine if 29M's dividends per share have been stable in the past.

Growing Dividend: Insufficient data to determine if 29M's dividend payments have been increasing.


Current Payout to Shareholders

Dividend Coverage: Insufficient data to calculate payout ratio to determine if its dividend payments are covered by earnings.


Future Payout to Shareholders

Future Dividend Coverage: No need to calculate the sustainability of 29M's dividend in 3 years as they are not forecast to pay a notable one for the Australian market.


Next Steps

Management

How experienced are the management team and are they aligned to shareholders interests?

0.4yrs

Average board tenure


CEO

Peter Geoffrey Albert (63 yo)

no data

Tenure

Mr. Peter Geoffrey Albert, BSc (Hons), EMBA, FAusIMM, MIOM3, CEng, MAICD, serves as Managing Director and Chief Executive Officer at 29Metals Limited and has been its Director since May 27, 2021. He joined...


Board Members

Experienced Board: 29M's board of directors are not considered experienced ( 0.4 years average tenure), which suggests a new board.


Ownership

Who are the major shareholders and have insiders been buying or selling?


Insider Trading Volume

Insider Buying: Insufficient data to determine if insiders have bought more shares than they have sold in the past 3 months.


Recent Insider Transactions

Ownership Breakdown

Dilution of Shares: 29M only recently listed within the past 12 months.


Top Shareholders

Company Information

29Metals Limited's employee growth, exchange listings and data sources


Key Information

  • Name: 29Metals Limited
  • Ticker: 29M
  • Exchange: ASX
  • Founded: 2021
  • Industry: Diversified Metals and Mining
  • Sector: Materials
  • Market Cap: AU$1.316b
  • Shares outstanding: 480.46m
  • Website: https://www.29metals.com

Number of Employees


Location

  • 29Metals Limited
  • 150 Collins Street
  • Level 2
  • Melbourne
  • Victoria
  • 3000
  • Australia

Listings


Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2021/10/20 15:36
End of Day Share Price2021/10/20 00:00
Earnings2020/12/31
Annual Earnings2020/12/31


Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more here.