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Aminex plc (AEX) AI Stock Analysis

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GB:AEX

Aminex plc

(LSE:AEX)

Select Model
Rating:58Neutral
Price Target:GBX 2.00â–¼(-4.76% Downside)
Action:reiterated
Date:09/06/26

The score is held back primarily by persistent losses and ongoing cash burn, despite a comparatively strong, low-debt balance sheet. Technically, the trend is positive with price above major moving averages and MACD strength, but overbought RSI/Stoch readings temper the outlook. Valuation is constrained by negative earnings and no provided dividend yield.

Positive Factors
Low leverage and substantial equityMinimal debt reduces financial risk and preserves flexibility for Aminex to manage its upstream interests. The sizeable equity base relative to assets provides a financial cushion, although recurring losses mean that capital is not yet generating positive returns.
Negative Factors
Persistent unprofitabilityAminex remains firmly unprofitable, with negative gross profit in most years and sizeable recent net losses. This weak earnings profile limits internally generated capital, reduces the ability to compound value from operations, and leaves profitability dependent on meaningful business improvement.

Aminex plc (AEX) vs. iShares MSCI United Kingdom ETF (EWC)

-50%-25%0%25%50%75%100%GB:AEX+42.37%EWC+21.04%Dec '25Jan '26Feb '26Mar '26Apr '26May '26Jun '26Jul '26Aug '26Sep '26Oct '26Nov '26
Market Cap
GBP 94.94M
Dividend Yield
―
Average Volume (3M)
6.65M
Price to Earnings (P/E)
-19.8
Beta (1Y)
0.01
Revenue Growth
26.79%
EPS Growth
-10.00%
Country
UK
Employees
5
Sector
Energy
Sector Strength
65
Industry
Oil & Gas Exploration & Production

Aminex plc Business Overview & Revenue Model

Company Description

Aminex PLC, alongside its various subsidiaries, is involved in the prospecting, assessment, extraction, and development of petroleum and natural gas resources. The company functions through three primary divisions: existing oil and gas production fac...

Aminex plc Financial Statement Overview

Summary

Financials are mixed: the balance sheet is a clear strength with minimal-to-zero debt and meaningful equity (~£28m in 2025), but this is outweighed by persistent unprofitability (negative gross profit in most years and sizable net losses around £5m in 2024–2025) and mostly negative operating/free cash flow, indicating ongoing cash burn.

Income Statement

18Very Negative

Balance Sheet

72Positive

Cash Flow

33Negative
Financial statement breakdown
BreakdownTTMDec 2025Dec 2024Dec 2023Dec 2022Dec 2021
Income Statement
Total Revenue46.00K49.00K39.00K112.00K64.00K143.00K
Gross Profit-12.00K-10.00K-12.00K30.00K-220.00K-149.00K
EBITDA-4.23M-4.49M-5.14M-957.00K-3.67M-8.27M
Net Income-6.14M-4.98M-5.30M-1.12M-4.06M-8.56M
Balance Sheet
Total Assets43.15M43.93M41.54M42.62M45.18M44.21M
Cash, Cash Equivalents and Short-Term Investments2.24M3.41M1.13M3.04M5.80M4.68M
Total Debt00376.00K00450.00K
Total Liabilities17.60M15.85M13.92M10.01M11.80M11.46M
Stockholders Equity25.56M28.08M27.62M32.61M33.38M32.75M
Cash Flow
Free Cash Flow-2.79M-2.48M-2.42M-2.92M-2.37M3.98M
Operating Cash Flow-2.42M-2.13M-2.16M-2.65M-1.89M4.89M
Investing Cash Flow-402.09K-348.00K-259.00K-264.00K-482.00K-904.00K
Financing Cash Flow4.13M4.82M452.00K03.73M238.00K

Aminex plc Technical Analysis

Technical Analysis SentimentPositive
Last Price2.10

Price Trends

50DMA1.98Positive
100DMA1.81Positive
200DMA2.06Positive

Market Momentum

MACD0.07Negative
RSI57.85Neutral
STOCH60.39Neutral

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For GB:AEX, the sentiment is Positive. The current price of 2.10 is above the 20-day moving average (MA) of 1.95, above the 50-day MA of 1.98, and above the 200-day MA of 2.06, indicating a bullish trend. The MACD of 0.07 indicates Negative momentum. The RSI at 57.85 is Neutral, neither overbought nor oversold. The STOCH value of 60.39 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for GB:AEX.

Aminex plc Peers Comparison

Overall Rating

UnderperformOutperform
Sector (65)

Financial Indicators

GB:AEX against its peers
NameOverall RatingMarket CapP/E RatioROEDividend YieldRevenue GrowthEPS Growth
GB:PHARGB:PHAR76OutperformGBP 124.17M-38.61-1.49%4.42%-7.76%-176.77%
GB:CASPGB:CASP74OutperformGBP 25.92M1.9622.39%―-42.74%-12.50%
Sector *65Neutral$15.17B7.614.09%5.20%3.87%-62.32%
GB:AETGB:AET60NeutralGBP 174.39M-18.50-9.14%―-6.06%-127.98%
GB:AEXGB:AEX58NeutralGBP 94.94M-19.82-22.89%―26.79%-10.00%
GB:TLWGB:TLW48NeutralGBP 141.50M-3.4820.15%―-21.40%30.63%
GB:BORGB:BOR45NeutralGBP 83.19M-100.51-0.56%――-40.00%

* Energy Sector Average

Performance Comparison

-50%0%50%100%150%GB:AEXGB:BORGB:CASPGB:AETGB:TLWGB:PHARDec '25Jan '26Feb '26Mar '26Apr '26May '26Jun '26Jul '26Aug '26Sep '26Oct '26Nov '26
GB:AEX and its peers over the selected period
Show on chartTickerCompany NamePriceChange% Change
GB:AEXAminex plc2.100.5535.48%
GB:BORBorders & Southern Petroleum9.13-1.07-10.49%
GB:CASPCaspian Sunrise1.10-1.05-48.84%
GB:AETAfentra Plc64.4018.4040.00%
GB:TLWTullow Oil9.340.556.26%
GB:PHARPharos Energy Plc30.1010.7155.21%

Aminex plc Corporate Events

Executive/Board ChangesPrivate Placements and FinancingRegulatory Filings and Compliance

Aminex Issues 6 Million Shares as Director Exercises Compensation Options

Neutral
Oct 20, 2026

Aminex plc has issued 6,000,000 new ordinary shares following the exercise of compensation options by non-executive director Thomas Mackay under its 2020 Restricted Share Plan, a scheme designed to pay certain fees in equity rather than cash. The exe...

Private Placements and FinancingRegulatory Filings and Compliance

Aminex Issues 10 Million Shares as Options Exercised, Expands Voting Capital

Neutral
Oct 14, 2026

Aminex plc has issued 10,000,000 new ordinary shares following the exercise of options by Executive Chairman Charles Santos and another option holder under its 2020 Restricted Share Plan. The exercised options, including compensation options granted...

Delistings and Listing ChangesPrivate Placements and FinancingRegulatory Filings and Compliance

Aminex Raises Working Capital Through Issue of 17 Million New Shares

Positive
Oct 7, 2026

Aminex plc has issued 17,000,000 new ordinary shares following the exercise of options by a former director under its share option scheme, raising £238,000 in additional funding for general working capital. The company has applied for the new shares...

Business Operations and StrategyShareholder Meetings

Aminex Shareholders Approve All Resolutions at AGM

Positive
Oct 1, 2026

Aminex plc reported that all resolutions proposed at its latest Annual General Meeting were approved by shareholders, with each motion passed via poll voting by substantial majorities. The resolutions included receiving the 2025 accounts, authorising...

Business Operations and StrategyExecutive/Board Changes

Aminex Grants 70m Share Options and Extends Incentive Scheme Amid Ntorya Delay

Neutral
Sep 30, 2026

Aminex plc has approved the grant of 70 million compensation share options under its Restricted Share Plan, with awards to Executive Chairman Charles Santos, Senior Independent Director Tom Mackay and staff at an exercise price of 2 pence per share....

Business Operations and StrategyExecutive/Board Changes

Aminex Brings Back Philip Thompson as Independent Non-Executive Director

Positive
Sep 25, 2026

Aminex plc has appointed Philip Thompson as an Independent Non-Executive Director, effective 1 October 2026, marking his return to the company’s board after previously serving as Chief Operating Officer and executive director. Thompson, a geophysicis...

Business Operations and StrategyFinancial Disclosures

Aminex Keeps Ntorya First Gas on Track as Tanzanian Pipeline Nears Completion

Positive
Sep 25, 2026

Aminex PLC reported significant operational progress in the first half of 2026, with construction of the Ntorya–Madimba pipeline largely complete and connection works slated for year-end. Topographical surveys have been finalised, and the revised wor...

Business Operations and Strategy

Aminex Sets $75m Ntorya Work Plan as Tanzania Gas Pipeline Nears Completion

Positive
Sep 23, 2026

Aminex has agreed with operator ARA Petroleum Tanzania on a revised 2026 work programme and a provisional 2027 plan for the Ntorya gas development, approving up to $75 million of gross spending over the period. The schedule includes testing and first...

Business Operations and StrategyExecutive/Board Changes

Aminex Refreshes Board with New Non-Executive Directors from ARA Petroleum

Positive
Sep 18, 2026

Aminex plc has announced board changes, appointing ARA Petroleum executives Dr Salman Al Shidi and Dr Omar Al-Jaaidi as non-executive directors from 1 October 2026, while incumbent directors Sultan Al-Ghaiti and Robert Ambrose step down on 30 Septemb...

Private Placements and FinancingRegulatory Filings and Compliance

Aminex Issues New Shares After Option Exercise, Updates Voting Rights

Positive
Sep 14, 2026

Aminex plc has issued 10,000,000 new ordinary shares following the exercise of options by a former employee, raising £140,000 to support general working capital. The new shares are expected to be admitted to the FCA’s Official List and to trading on...

Regulatory Filings and ComplianceShareholder Meetings

Aminex Sets Date and Venue for 2026 Annual General Meeting

Positive
Sep 8, 2026

Aminex plc has scheduled its Annual General Meeting for 2.00 pm on 30 September 2026 at The Geological Society, Burlington House, Piccadilly, London. Shareholders who have opted for paper communications are being sent the Annual Report and AGM notice...

Business Operations and StrategyLegal Proceedings

Aminex Secures Accelerated Ntorya Gas Development Schedule in Tanzania

Positive
Sep 2, 2026

Aminex has agreed a revised implementation programme for the Ntorya gas development in Tanzania after a meeting convened by the Ministry of Energy rejected operator ARA Petroleum Tanzania’s proposed delay. The new schedule sets October 2026 for a wor...

Business Operations and Strategy

Aminex Engages Tanzanian Authorities on Strategically Important Ntorya Gas Development

Positive
Aug 27, 2026

Aminex said it is actively engaged in ongoing discussions with Tanzania’s Ministry of Energy, the Tanzania Petroleum Development Corporation, the Petroleum Upstream Regulatory Authority and ARA Petroleum Tanzania to progress the coordinated implement...

Business Operations and StrategyLegal Proceedings

Aminex Escalates Dispute Over Delayed Ntorya Gas Development Plan

Negative
Aug 21, 2026

Aminex has initiated a formal dispute process with ARA Petroleum Tanzania, operator of the Ruvuma PSA, over alleged breaches of the farmout and joint operating agreements tied to the approved 2026 work programme and budget for the Ntorya gas developm...

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.

Date of analysis: Sep 06, 2026