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Capricorn Metals Ltd
(Sydney:CMM)
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Rating:78Outperform
Price Target:
AU$14.50
âĵ(-16.43% Downside)
Action:Reiterated
Date:08/28/26
The score is driven primarily by very strong financial performance across profitability, cash flow, and a low-leverage balance sheet. Technicals support the uptrend, but overbought signals temper the outlook. Valuation is the main headwind, with a relatively high P/E and a low dividend yield.
Positive Factors
Revenue and profit growth
The sharp expansion in revenue and net income indicates a meaningful operating step-change rather than a stagnant production profile. Continued scale supports stronger internal funding, improves the companyâs ability to absorb fixed costs, and can reinforce profitability if operating performance remains sound.
Negative Factors
Cyclical earnings profile
The wide movement from loss-making or near-breakeven periods to strong profitability shows that earnings are not consistently stable through the cycle. This variability can complicate planning, make future results more sensitive to operating conditions, and reduce confidence in linear profit growth.
Read all positive and negative factors
Positive Factors
Negative Factors
Revenue and profit growth
The sharp expansion in revenue and net income indicates a meaningful operating step-change rather than a stagnant production profile. Continued scale supports stronger internal funding, improves the companyâs ability to absorb fixed costs, and can reinforce profitability if operating performance remains sound.
Read all positive factors
Capricorn Metals Ltd (CMM) vs. iShares MSCI Australia ETF (EWA)
Market Cap
AU$5.86B
Dividend Yield0.78%
Average Volume (3M)2.06M
Price to Earnings (P/E)21.2
Beta (1Y)1.77
Revenue Growth44.67%
EPS Growth70.20%
CountryAU
Employees171
SectorBasic Materials
Sector Strength58
IndustryGold
Share Statistics
EPS (TTM)0.63
Shares Outstanding457,143,300
10 Day Avg. Volume1,448,353
30 Day Avg. Volume2,064,292
Financial Highlights & Ratios
PEG Ratio0.29
Price to Book (P/B)3.94
Price to Sales (P/S)7.33
P/FCF Ratio21.31
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price Target
AU$19.53Price Target Upside12.54% Upside
Rating ConsensusStrong Buy
Number of Analyst Covering8
EPS Forecast (FY)0.85
Revenue Forecast (FY)AU$912.65M
Capricorn Metals Ltd Business Overview & Revenue Model
Company Description
Capricorn Metals Limited is involved in the exploration, assessment, and development of mineral assets across Australia and Madagascar. The company holds full ownership of the Karlawinda gold project, which is located in the Pilbara region of West...
How the Company Makes Money
Capricorn Metals primarily makes money by producing gold dore/bullion from its mining operations and selling that gold into the gold market at prevailing prices. Revenue is therefore mainly driven by (1) the volume of gold produced and sold (ounce...
Capricorn Metals Ltd Financial Statement Overview
Summary
Income Statement
88
Very Positive
Balance Sheet
90
Very Positive
Cash Flow
85
Very Positive
| Breakdown | Jun 2026 | Jun 2025 | Jun 2024 | Jun 2023 | Jun 2022 |
|---|---|---|---|---|---|
Income Statement | |||||
| Total Revenue | 769.35M | 517.71M | 359.73M | 320.75M | 286.95M |
| Gross Profit | 456.01M | 283.47M | 156.91M | 136.14M | 123.29M |
| EBITDA | 483.40M | 251.39M | 172.23M | 43.84M | 149.53M |
| Net Income | 282.19M | 150.28M | 87.14M | 4.40M | 89.48M |
Balance Sheet | |||||
| Total Assets | 1.88B | 1.04B | 623.56M | 592.93M | 489.51M |
| Cash, Cash Equivalents and Short-Term Investments | 505.22M | 355.87M | 120.66M | 107.42M | 62.85M |
| Total Debt | 20.30M | 31.80M | 84.11M | 91.81M | 110.82M |
| Total Liabilities | 447.39M | 258.48M | 314.29M | 336.40M | 241.98M |
| Stockholders Equity | 1.43B | 781.21M | 309.26M | 256.54M | 247.53M |
Cash Flow | |||||
| Free Cash Flow | 264.48M | 161.56M | 92.54M | 105.26M | 57.47M |
| Operating Cash Flow | 470.17M | 259.31M | 158.18M | 152.56M | 134.97M |
| Investing Cash Flow | -289.27M | -97.82M | -65.64M | -47.30M | -77.32M |
| Financing Cash Flow | -31.84M | 74.34M | -79.10M | -60.29M | -6.47M |
Capricorn Metals Ltd Technical Analysis
Negative
17.35
Price Trends
15.23
Negative
14.31
Negative
13.63
Negative
Market Momentum
-0.57
Positive
33.53
Neutral
14.17
Positive
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For AU:CMM, the sentiment is Negative. The current price of 17.35 is above the 20-day moving average (MA) of 14.11, above the 50-day MA of 15.23, and above the 200-day MA of 13.63, indicating a bearish trend. The MACD of -0.57 indicates Positive momentum. The RSI at 33.53 is Neutral, neither overbought nor oversold. The STOCH value of 14.17 is Positive, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for AU:CMM.
Capricorn Metals Ltd Peers Comparison
UnderperformOutperform
Sector (61)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
82 Outperform | AU$7.19B | 13.00 | 18.90% | 2.58% | 12.65% | 11.08% | |
78 Outperform | AU$5.86B | 21.25 | 20.93% | 0.78% | 44.67% | 70.20% | |
78 Outperform | AU$4.81B | 6.88 | 35.03% | 3.02% | 42.59% | 180.54% | |
77 Outperform | AU$6.62B | 57.91 | 3.01% | 1.71% | -14.16% | -84.78% | |
73 Outperform | AU$4.82B | 10.58 | 19.72% | 1.95% | 79.44% | 1173.17% | |
72 Outperform | AU$7.56B | 12.93 | 33.52% | 0.78% | 89.36% | 165.30% | |
61 Neutral | $10.43B | 7.12 | -0.05% | 2.87% | 2.86% | -36.73% |
* Basic Materials Sector Average
AU:CMM
Capricorn Metals Ltd
12.81
0.58
4.78%
AU:PRU
Perseus Mining
5.42
0.84
18.39%
AU:RRL
Regis Resources Limited
6.34
0.54
9.24%
AU:RMS
Ramelius Resources Limited
3.51
0.23
7.04%
AU:WGX
Westgold Resources
5.13
0.18
3.64%
AU:GMD
Genesis Minerals Limited
6.43
0.78
13.72%
Capricorn Metals Ltd Corporate Events
Capricorn Metals Sets Date and Voting Rules for 2026 Annual General Meeting
Oct 22, 2026
Capricorn Metals Ltd has scheduled its 2026 Annual General Meeting for 10:00am WST on 24 November at the Perth Convention and Exhibition Centre, outlining formal business resolutions for shareholders to consider. The company has set 22 November 20...
Capricorn Metals Sets November Date for Digitally Focused AGM
Oct 22, 2026
Capricorn Metals Ltd, an ASX-listed gold miner headquartered in Western Australia, focuses on the exploration, development and production of gold projects for investors in the resources sector. The company operates under Australian corporate gover...
Capricorn lifts Karlawinda capacity as Q1 gold output hits 31koz
Oct 4, 2026
Capricorn Metals reported a solid start to FY27 at its Karlawinda Gold Project, delivering first-quarter production of 31,218 ounces of gold, broadly consistent with recent quarters and in line with its mine plan. The operation remains on track to...
Capricorn Metals Sets AGM Date and Director Nomination Deadline
Sep 28, 2026
Capricorn Metals has scheduled its 2026 Annual General Meeting for 24 November in Western Standard Time, with full meeting details to be provided to shareholders in a forthcoming notice. The company has also set 6 October as the deadline for direc...
Capricorn Metals Hits 6.5Mtpa Throughput as Karlawinda Expansion Comes Online
Sep 22, 2026
Capricorn Metals has completed construction and commissioning of its Karlawinda Expansion Project on schedule, bringing a new parallel crushing, milling and CIL circuit into continuous operation. The expanded Karlawinda Gold Project has reached it...
Capricorn Metals Updates Mark Clarkâs Indirect Shareholding After Performance Rights Vesting
Sep 4, 2026
Capricorn Metals has disclosed a change in director Mark Clark’s indirect interests following the vesting of performance rights. Through family entities Samoz Pty Ltd and his spouse, Clark received 77,335 ordinary shares at nil consideration...
Capricorn Metals lodges 2026 corporate governance statement with ASX
Aug 26, 2026
Capricorn Metals has lodged its annual corporate governance statement for the year ended 30 June 2026, confirming it is available on the company’s website and that it complies with ASX Listing Rule requirements. The filing, approved by the b...
Capricorn Metals Outlines FY2026 Compliance with ASX Governance Standards
Aug 26, 2026
Capricorn Metals Ltd has released its FY2026 Corporate Governance Statement, confirming broad compliance with the ASX Corporate Governance Council’s fourth-edition principles and recommendations. The company outlines a detailed Board Charter...
Capricorn Metals Declares Interim Dividend for June 2026 Period
Aug 26, 2026
Capricorn Metals Ltd has declared a dividend of A$0.05 per ordinary fully paid share, relating to the six‑month period ended 30 June 2026. The company has set an ex‑dividend date of 16 September 2026, a record date of 17 September 2026...
Capricorn Metals Details Governance and Listing in 2026 Financial Report
Aug 26, 2026
Capricorn Metals Ltd has released its financial report for the year ended 30 June 2026, accompanied by an updated corporate directory. The report confirms the company’s governance structure, including its board composition led by Executive C...
Capricorn Metals completes sale of Big Springs project to Sentinel
Aug 26, 2026
Capricorn Metals has completed the divestment of its non-core Big Springs Gold Project to Sentinel Metals, receiving A$13.7 million upfront through cash and a 6.2% equity stake in Sentinel. The deal also includes up to A$12.5 million in deferred c...
Sentinel Metals seals Big Springs deal, doubling U.S. gold resource base
Aug 26, 2026
Sentinel Metals has completed the acquisition of 100% of the Big Springs Gold Project in Nevada from Capricorn Metals, paying A$8.5 million in cash and issuing A$5 million in shares, with up to A$12.5 million in contingent consideration tied to fu...
Capricorn Metals Issues Shares to Acquire Piastri Project
Aug 21, 2026
Capricorn Metals has issued 102,172 fully paid ordinary shares as consideration for the acquisition of the Piastri Project, expanding its asset base through an all-share transaction. The company stated that the issuance was conducted without a dis...
Capricorn Metals Seeks ASX Quotation for Additional Shares
Aug 21, 2026
Capricorn Metals Ltd is an Australian-listed mining company operating in the metals sector. Its ordinary fully paid shares trade on the ASX under the ticker CMM, giving investors exposure to the company’s resource development and production ...
Capricorn Metals Plans Targeted Share Placement on ASX
Aug 14, 2026
Capricorn Metals Ltd has notified the ASX of a proposed issue of 108,652 ordinary fully paid shares. The new securities are to be issued via a placement or similar mechanism, with the issue date scheduled for 21 August 2026, expanding the company&...
Latitude 66 Sells Piastri Project to Capricorn Metals for A$1.5m in Shares
Aug 13, 2026
Latitude 66 Limited has agreed to sell its non-core Piastri Project in Western Australia to Capricorn Metals for A$1.5 million, to be paid in Capricorn shares priced at the buyer’s 20-day volume-weighted average price. Located in the Yalgoo-...
Capricorn Metals Reaffirms Long-Term Growth Strategy in Western Australian Gold Portfolio
Aug 3, 2026
Capricorn Metals has reiterated its strategy to develop a high-margin, multi-decade gold business in Western Australia, supported by increased gold reserves of 5.2 million ounces and updated studies on its key projects. The company highlights its ...
Capricorn Metals Delivers Record Gold Output as Expansion and Mt Gibson Progress
Jul 30, 2026
Capricorn Metals reported record annual production of 123,589 ounces from its Karlawinda Gold Project, with the June quarter delivering 30,437 ounces at an all-in sustaining cost of $1,648 per ounce. The company has guided to a sharp increase in F...
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.