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C29 Metals Limited
(Sydney:C29)
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Rating:46Neutral
Price Target:
AU$0.03
▲(35.00% Upside)
Action:Reiterated
Date:09/27/26
The score is held down primarily by weak financial performance (minimal/zero revenue, persistent losses, and sustained negative operating/free cash flow indicating funding dependence). Technicals provide a modest offset with price above key moving averages and neutral momentum, while valuation remains unattractive/unclear due to a loss-driven negative P/E and no dividend support.
Positive Factors
Modest Leverage
Modest leverage is a relative financial strength because it avoids the immediate burden of high debt servicing and leaves more balance-sheet flexibility than a heavily indebted explorer. This may help preserve strategic options while projects are evaluated, although it does not offset the company’s cash burn.
Negative Factors
No Commercial Revenue
Revenue falling to zero in 2026 indicates that C29 remains at an early exploration or non-commercial stage rather than operating as a producing business. Without recurring operating revenue, the company has limited internal funding capacity and remains dependent on successful project advancement or new capital.
Read all positive and negative factors
Positive Factors
Negative Factors
Modest Leverage
Modest leverage is a relative financial strength because it avoids the immediate burden of high debt servicing and leaves more balance-sheet flexibility than a heavily indebted explorer. This may help preserve strategic options while projects are evaluated, although it does not offset the company’s cash burn.
Read all positive factors
C29 Metals Limited (C29) vs. iShares MSCI Australia ETF (EWA)
Market Cap
AU$5.60M
Dividend YieldN/A
Average Volume (3M)1.22M
Price to Earnings (P/E)―
Beta (1Y)0.55
Revenue GrowthN/A
EPS Growth77.58%
CountryAU
Employees1
SectorBasic Materials
Sector Strength58
IndustryIndustrial Materials
Share Statistics
EPS (TTM)>-0.01
Shares Outstanding223,985,280
10 Day Avg. Volume703,450
30 Day Avg. Volume1,221,795
Financial Highlights & Ratios
PEG Ratio0.02
Price to Book (P/B)10.00
Price to Sales (P/S)0.00
P/FCF Ratio-2.29
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price TargetN/A
Price Target UpsideN/A
Rating ConsensusN/A
Number of Analyst Covering0
EPS Forecast (FY)N/A
Revenue Forecast (FY)N/A
C29 Metals Limited Business Overview & Revenue Model
Company Description
C29 Metals Limited, an Australian-based mining exploration firm established in 2020 and headquartered in Subiaco, is dedicated to the identification, exploration, and development of copper, gold, and base metal deposits across Australia. The compa...
C29 Metals Limited Financial Statement Overview
Summary
Income Statement
12
Very Negative
Balance Sheet
38
Negative
Cash Flow
18
Very Negative
| Breakdown | Jun 2026 | Jun 2025 | Jun 2024 | Jun 2023 | Jun 2022 |
|---|---|---|---|---|---|
Income Statement | |||||
| Total Revenue | 0.00 | 43.74K | 0.00 | 20.07K | 51.40K |
| Gross Profit | -15.56K | 43.74K | -562.00 | 20.07K | 50.92K |
| EBITDA | -1.59M | -6.66M | -3.42M | -2.64M | -1.00M |
| Net Income | -1.61M | -6.76M | -3.42M | -2.64M | -1.00M |
Balance Sheet | |||||
| Total Assets | 926.76K | 3.39M | 7.67M | 4.87M | 5.45M |
| Cash, Cash Equivalents and Short-Term Investments | 758.78K | 1.05M | 2.23M | 1.31M | 3.14M |
| Total Debt | 143.10K | 23.90K | 15.47K | 0.00 | 0.00 |
| Total Liabilities | 565.14K | 115.74K | 234.19K | 404.51K | 86.82K |
| Stockholders Equity | 361.62K | 3.27M | 7.44M | 4.46M | 5.36M |
Cash Flow | |||||
| Free Cash Flow | -1.58M | -3.40M | -2.29M | -2.86M | -1.84M |
| Operating Cash Flow | -1.58M | -1.40M | -1.44M | -570.08K | -781.82K |
| Investing Cash Flow | -37.30K | -2.01M | -842.64K | -2.29M | -1.05M |
| Financing Cash Flow | 1.10M | 2.24M | 3.20M | 1.02M | 4.57M |
C29 Metals Limited Technical Analysis
Negative
0.02
Price Trends
0.02
Negative
0.02
Positive
0.02
Negative
Market Momentum
>-0.01
Positive
41.60
Neutral
-24.07
Positive
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For AU:C29, the sentiment is Negative. The current price of 0.02 is below the 20-day moving average (MA) of 0.02, below the 50-day MA of 0.02, and below the 200-day MA of 0.02, indicating a bearish trend. The MACD of >-0.01 indicates Positive momentum. The RSI at 41.60 is Neutral, neither overbought nor oversold. The STOCH value of -24.07 is Positive, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for AU:C29.
C29 Metals Limited Peers Comparison
UnderperformOutperform
Sector (61)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
61 Neutral | $10.43B | 7.12 | -0.05% | 2.87% | 2.86% | -36.73% | |
46 Neutral | AU$5.60M | -2.70 | -603.76% | ― | ― | 77.58% | |
46 Neutral | AU$4.21M | -0.49 | >-0.01% | ― | ― | 44.59% | |
45 Neutral | AU$3.62M | -1.40 | -37.96% | ― | ― | -37.80% | |
45 Neutral | AU$5.49M | -1.67 | -13.01% | ― | ― | -158.82% | |
43 Neutral | AU$3.80M | -8.84 | -18.57% | ― | ― | 71.13% |
* Basic Materials Sector Average
AU:C29
C29 Metals Limited
0.02
0.00
0.00%
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0.01
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Sabre Resources Ltd
0.01
0.00
0.00%
C29 Metals Limited Corporate Events
C29 Metals Director James Myers Increases Indirect Shareholding
Oct 5, 2026
C29 Metals Limited has disclosed a change in director James Myers’ indirect interest in the company’s securities via Molo Capital Pty Ltd ATF Jamie Myers Family Trust. Myers increased his holding by purchasing 2,000,000 fully paid ordi...
C29 Metals Sets Date and Terms for 2026 AGM in Perth
Sep 25, 2026
C29 Metals Limited has called its Annual General Meeting for 30 October 2026 in Perth, with shareholders of record as of 28 October 2026 eligible to vote. The meeting will be held as a physical-only event, with no online participation offered, rei...
C29 Metals Outlines 2026 Corporate Governance Framework
Sep 24, 2026
C29 Metals has released its Corporate Governance Statement for the financial year ending 30 June 2026, confirming its alignment with the ASX Corporate Governance Council’s fourth edition principles and recommendations. The board has adopted ...
C29 Metals Details Corporate Structure in 2026 Annual Report
Sep 24, 2026
C29 Metals Limited has released its annual corporate information for the financial year ended 30 June 2026, outlining its governance structure, registered and principal office details, and key service providers. The report confirms its ASX listing...
C29 Metals Plans Large ASX Share Placement for November 2026
Aug 31, 2026
C29 Metals Limited has notified the ASX of a proposed equity placement involving up to 200,000,000 ordinary fully paid shares, with an expected issue date of 5 November 2026. The company has lodged an Appendix 3B outlining the planned securities i...
C29 Metals Secures $2.4m Placement to Fund Exploration and Global Growth
Aug 31, 2026
C29 Metals Limited has secured binding commitments from sophisticated and professional investors to raise $2.4 million via a placement of 200 million new shares at $0.012 each, with completion subject to shareholder approval at the 2026 Annual Gen...
C29 Metals Director James Myers Increases Shareholding via On‑Market Purchase
Aug 10, 2026
C29 Metals Limited has disclosed a change in director James Myers’ relevant interests, reporting an on‑market purchase of 2,000,000 fully paid ordinary shares at $0.011 per share through his indirect holding entity, Molo Capital Pty Lt...
C29 Metals Updates Registered Office and Business Address in WA
Jul 31, 2026
C29 Metals Limited has announced a change to its registered office and principal place of business, relocating both to 1 Penn Lane in Hammond Park, Western Australia. The company has also updated its postal address to PO Box 3310 in Success, WA, c...
C29 Metals Raises Capital, Exits Namibian Deal and Sells Non-Core Mayfield Project
Jul 30, 2026
C29 Metals reported that it raised just over $1.04 million through a share placement during the June quarter, with the funds earmarked for exploration on its Australian copper and gold projects and general working capital. Shareholders later ratif...
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.