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29M Shares 29Metals Limited

ACCUMULATE ASX · ASX
$0.27 +0.00% Prices as of close 2026-10-26

Copper exposure offers recovery potential, though execution and balance-sheet risks warrant measured positioning.

Future value: $0.40 (+48.52%) · 6-12 months · analyst consensus

Signal breakdown

  • ▸Recent broker upgrade to Hold signals improving outlook, not conviction.
  • ▾Below 50-day MA (-21.92%)
  • ▾Near 52-week low (12% of range)
  • ▸~49% upside to price target

Is 29M a buy right now?

Trend: 29M is trading below the 50-day average (-22.86%), RSI 41 — neutral momentum, with a 3-month return of +10.20%.

Valuation & quality: 29Metals Limited trades on forward P/E 7.7, price-to-book 0.85; fundamentals show net margin -7.7%, return on equity -9.1%, revenue growth 12.5% year on year.

Analyst consensus: 7 analysts have a mean 12-month price target of A$0.38 (+42.5% vs the last close; range A$0.35 – A$0.45), consensus rating “buy”.

Our screen: ACCUMULATE (score 1) — Copper exposure offers recovery potential, though execution and balance-sheet risks warrant measured positioning.

Computed from end-of-day data; not personal advice.

12-month price chart

0.46 0.22 FebMarAprMayJunJulAugSepOct
Daily close, 2026-02-08 → 2026-10-26 (AUD). Range 0.22 – 0.46.

Monthly returns

Mar 26Apr 26May 26Jun 26Jul 26Aug 26Sep 26Oct 26
-9.80%-35.10%+16.70%-10.70%+4.00%+46.20%+0.00%-28.90%

Fundamentals

Market cap
$472.5M
P/E (ttm)
7.7
Forward P/E
7.7
EPS (ttm)
$-0.03
Price / book
0.85
Beta
0.98
Net margin
-7.7%
ROE
-9.1%
Revenue growth
12.5%
Revenue (ttm)
$600.5M
Free cash flow
$-22,593,000
Debt / equity
43%
52-wk range
$0.22 – $0.68
Volume
3,026,118
Avg volume (3m)
3,797,203

Analyst price target

Mean target
$0.38
Low
$0.35
High
$0.45
Analysts
7
Consensus
BUY

Technical signals

RSI (14)
41.0
vs 50-day MA
-22.86%
1-mo return
-26.03%
3-mo return
+10.20%
Volume z-score
3.46

About 29Metals Limited

29Metals Limited operates as a copper-focused base and precious metals mining company in Australia and Chile. The company explores copper, gold, silver, zinc, and lead deposits.

Sector: Basic Materials · Industry: Other Precious Metals & Mining · Australia · Website

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General information only (Australia). This is general information, not financial product advice. It doesn't consider your objectives, financial situation or needs — consider its appropriateness and seek licensed advice before acting. Not a recommendation to buy or sell any financial product.

Market data from end-of-day feeds; AI-generated research for educational purposes only — not investment advice.