Risk factor
Very high price volatility
Profitability factor
Very low or no dividends
About
29Metals Limited is engaged in the exploration, development, and extraction of base and precious metals, with a particular emphasis on copper. The firm actively searches for mineral deposits containing copper, zinc, gold, and silver. Its portfolio of assets includes the Golden Grove property in Western Australia, the Capricorn Copper operation in Queensland, and the Redhill project in southern Chile. Formed in 2021, 29Metals Limited maintains its head office in Melbourne, Australia.
Company Valuation
Considering past and projected metrics, the stock is neither 'expensive' nor 'cheap' compared to its peers. In particular, the stock is of fair value on EV/EBITDA.
Target Price
The average target price of 29M.AX is 0.38 and suggests 11.8% upside potential. Usually, this means a HOLD recommendation among investment firms. This neutral recommendat