Friday, 6 August 2021

I just got this ...Fri, 6 Aug at 9:40 am

Friday, 6 August 2021

29M - 29METALS LIMITED

Macquarie rates 29M as Outperform (1) - Macquarie’s commodity strategy team has upgraded its zinc price forecasts by 4-6% for 2021-2022, and 7% in the long term, due to stronger underlying zinc demand. Hence, the broker upgrades earnings forecasts, and lifts it target price for 29Metals to $3.30 from $3.

The analyst points out the company offers strong operational leverage not only to zinc, but also to copper.

Target price is $3.30 Current Price is $2.47 Difference: $0.83 If 29M meets the Macquarie target it will return approximately 34% (excluding dividends, fees and charges). The company's fiscal year ends in December.

Forecast for FY21:

Macquarie forecasts a full year FY21 dividend of 0.00 cents and EPS of 16.50 cents . At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 14.97.

Forecast for FY22:

Macquarie forecasts a full year FY22 dividend of 2.30 cents and EPS of 7.70 cents . At the last closing share price the estimated dividend yield is 0.93%. At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 32.08.

Market Sentiment: 1.0All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources