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Beowulf Mining
(LSE:BEM)
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Rating:44Neutral
Price Target:
5.00 p
▼(-52.38% Downside)
Action:Upgraded
Date:09/30/26
The score is primarily pressured by weak financial performance (no revenue, ongoing losses, and persistent negative free cash flow) and bearish technical trends (price below key moving averages with negative MACD). Low leverage provides some balance-sheet stability, while valuation inputs are limited because a negative P/E reflects unprofitability and no dividend yield is available.
Positive Factors
Very low leverage
Minimal leverage reduces refinancing and solvency pressure, preserving financial flexibility while projects are advanced. A largely unlevered balance sheet also limits interest-related strain and may leave more strategic room for future funding or development decisions.
Negative Factors
No operating revenue
The absence of reported revenue shows that the company has not yet demonstrated a revenue-generating operating model. Until a project reaches production or another monetization event occurs, business value remains dependent on advancing assets rather than recurring commercial cash inflows.
Read all positive and negative factors
Positive Factors
Negative Factors
Very low leverage
Minimal leverage reduces refinancing and solvency pressure, preserving financial flexibility while projects are advanced. A largely unlevered balance sheet also limits interest-related strain and may leave more strategic room for future funding or development decisions.
Read all positive factors
Beowulf Mining (BEM) vs. iShares MSCI United Kingdom ETF (EWC)
Market Cap
£3.45M
Dividend YieldN/A
Average Volume (3M)72.55K
Price to Earnings (P/E)―
Beta (1Y)0.87
Revenue GrowthN/A
EPS Growth42.67%
CountryUK
Employees14
SectorBasic Materials
Sector Strength58
IndustryIndustrial Materials
Share Statistics
EPS (TTM)-0.03
Shares Outstanding65,664,870
10 Day Avg. Volume102,503
30 Day Avg. Volume72,552
Financial Highlights & Ratios
PEG Ratio0.09
Price to Book (P/B)0.31
Price to Sales (P/S)0.00
P/FCF Ratio-4.14
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
Beowulf Mining Business Overview & Revenue Model
Company Description
Founded in 1988 and headquartered in London, UK, Beowulf Mining plc focuses on the acquisition, exploration, and assessment of natural resource properties across Sweden, Finland, and Kosovo. The company, previously known as Beowulf Gold PLC until ...
How the Company Makes Money
Beowulf Mining’s business model is that of a pre-revenue/early-stage natural resources developer: it seeks to create value by acquiring, exploring, permitting, and developing mineral projects and then monetizing those assets through one or more ou...
Beowulf Mining Financial Statement Overview
Summary
Income Statement
12
Very Negative
Balance Sheet
62
Positive
Cash Flow
18
Very Negative
| Breakdown | TTM | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Gross Profit | 0.00 | -68.79K | -63.33K | -72.75K | -51.49K | -42.42K |
| EBITDA | -1.37M | -1.49M | -1.66M | -2.67M | -1.69M | -1.44M |
| Net Income | -1.54M | -1.75M | -1.77M | -2.86M | -1.95M | -1.35M |
Balance Sheet | ||||||
| Total Assets | 19.03M | 19.42M | 17.21M | 16.09M | 15.15M | 14.90M |
| Cash, Cash Equivalents and Short-Term Investments | 208.29K | 329.65K | 881.35K | 905.55K | 1.78M | 3.34M |
| Total Debt | 183.96K | 257.70K | 30.73K | 37.63K | 1.87M | 7.49K |
| Total Liabilities | 1.33M | 901.45K | 538.86K | 471.29K | 2.49M | 404.58K |
| Stockholders Equity | 17.70M | 18.52M | 16.67M | 15.11M | 12.09M | 14.17M |
Cash Flow | ||||||
| Free Cash Flow | 0.00 | -1.39M | -1.25M | -4.51M | -3.11M | -2.17M |
| Operating Cash Flow | 0.00 | -1.39M | -1.25M | -2.17M | -1.54M | -1.35M |
| Investing Cash Flow | 0.00 | -1.48M | -2.12M | -2.25M | -1.50M | -773.16K |
| Financing Cash Flow | 0.00 | 2.27M | 3.47M | 3.64M | 1.55M | 1.40M |
Beowulf Mining Technical Analysis
Negative
10.50
Price Trends
8.61
Negative
7.63
Negative
7.82
Negative
Market Momentum
-1.08
Positive
25.59
Positive
28.17
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For GB:BEM, the sentiment is Negative. The current price of 10.5 is above the 20-day moving average (MA) of 7.89, above the 50-day MA of 8.61, and above the 200-day MA of 7.82, indicating a bearish trend. The MACD of -1.08 indicates Positive momentum. The RSI at 25.59 is Positive, neither overbought nor oversold. The STOCH value of 28.17 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for GB:BEM.
Beowulf Mining 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% | |
45 Neutral | £4.14M | -2.20 | -7.16% | ― | ― | ― | |
45 Neutral | £72.35M | -1.73 | 91.74% | ― | -38.70% | 78.95% | |
44 Neutral | £3.45M | -2.03 | -8.44% | ― | ― | 42.67% | |
43 Neutral | £5.67M | -0.61 | -94.46% | ― | ― | 84.44% | |
42 Neutral | £14.76M | -1.03 | -160.21% | ― | ― | -57.69% | |
42 Neutral | £4.78M | -0.38 | -12.61% | ― | ― | 33.62% |
* Basic Materials Sector Average
GB:BEM
Beowulf Mining
5.25
-5.25
-50.00%
GB:IRON
Ironveld
0.02
-0.02
-52.38%
GB:ARCM
ARC Minerals
0.60
-0.60
-50.00%
GB:THR
Thor Mining
0.55
0.03
5.77%
GB:VAST
Vast Resources
4.24
-3.45
-44.84%
GB:PXC
Phoenix Copper
0.53
-2.33
-81.58%
Beowulf Mining Corporate Events
Business Operations and StrategyPrivate Placements and FinancingRegulatory Filings and Compliance
Beowulf Mining Faces FDI Delay as Bacchus Financing Lapses but Secures Interim Support
Negative
Sep 29, 2026
Beowulf Mining has provided an update on its planned £4.3 million financing, centred on a strategic investment led by Bacchus Capital Affiliates. The Swedish Inspectorate of Strategic Products has initiated a foreign direct investment review...
Business Operations and StrategyDelistings and Listing ChangesPrivate Placements and Financing
Beowulf Mining Converts Loan Notes Into New Equity Ahead of AIM Admission
Positive
Sep 21, 2026
Beowulf Mining plc has received notice from an investor to convert £50,000 of outstanding unsecured convertible loan notes into new ordinary shares in the company. The European mineral exploration and development group will issue 961,168 new ...
Business Operations and StrategyPrivate Placements and FinancingRegulatory Filings and Compliance
Beowulf Mining Faces Funding Strain as Swedish FDI Review Delays £4.3m Investment
Negative
Sep 10, 2026
Beowulf Mining has warned of mounting financing pressure after Sweden’s Inspectorate of Strategic Products initiated a formal review of a £4.3 million strategic investment by Bacchus Capital, which requires foreign direct investment app...
Business Operations and StrategyFinancial DisclosuresPrivate Placements and Financing
Beowulf Mining narrows losses and secures strategic funding as Nordic projects advance
Positive
Aug 28, 2026
Beowulf Mining reported narrower losses for the six months to 30 June 2026 and sharply reduced administration costs, while managing a tight cash position of £208,290 as it awaited completion of a £4.3 million financing package. The compa...
Business Operations and Strategy
Beowulf Mining Completes Infill Drilling to Upgrade Resources at Kallak
Positive
Aug 14, 2026
Beowulf Mining has completed a priority infill drilling programme at its Kallak iron ore project in northern Sweden, targeting the northern portion of the Kallak North deposit. The campaign focused on tightening drill spacing to upgrade near-surfa...
Business Operations and StrategyPrivate Placements and FinancingRegulatory Filings and Compliance
Beowulf Mining Sets Timeline for £4.3m Bacchus Financing and Adjusts Investor Structure
Positive
Aug 12, 2026
Beowulf Mining has provided an update on its planned £4.3 million financing, confirming that the strategic investment by Bacchus Capital Affiliates is progressing through Sweden’s foreign direct investment approval process. The company...
Business Operations and Strategy
Beowulf Mining CEO Highlights Strategic Investment and Nordic Project Progress
Positive
Jul 27, 2026
Beowulf Mining has released a new interview with chief executive Ed Bowie, outlining details of a recent strategic investment in the company and providing operational updates. The discussion covers progress at the Kallak iron ore project in Sweden...
Business Operations and Strategy
Beowulf Mining Publishes Updated Corporate Presentation for Investors
Neutral
Jul 24, 2026
Beowulf Mining has released an updated corporate presentation, which is now accessible via the investor section of its website, signalling an effort to refresh the market on its strategy and project portfolio. The updated materials are aimed at cu...
Business Operations and StrategyDelistings and Listing ChangesPrivate Placements and FinancingRegulatory Filings and ComplianceShareholder MeetingsStock Split
Beowulf Mining Wins Shareholder Backing for Capital Reorganisation and Financing
Positive
Jul 23, 2026
Beowulf Mining reported that all resolutions at its Annual General Meeting and subsequent General Meeting were approved by shareholders, including the re-election of directors, auditor reappointment and authority to allot shares and disapply pre-e...
Business Operations and Strategy
Beowulf starts infill drilling to upgrade Kallak iron ore resources
Positive
Jul 15, 2026
Beowulf Mining has launched an infill drilling campaign at its Kallak iron ore project in northern Sweden, starting with a 1,000-metre, seven-hole programme in the northern part of Kallak North to tighten drill spacing. The primary goal is to upgr...
Business Operations and StrategyExecutive/Board ChangesPrivate Placements and FinancingShareholder Meetings
Beowulf Mining Secures £4.3m Strategic Financing Led by Bacchus Capital
Positive
Jul 7, 2026
Beowulf Mining has secured binding subscriptions for a £4.3 million equity financing at 3 pence per share, anchored by a £3.7 million strategic investment from Bacchus Capital Advisers and affiliates. The deal, which also includes partic...
Business Operations and StrategyPrivate Placements and FinancingRegulatory Filings and Compliance
Beowulf’s Grafintec Secures Kotka Site Extension for Graphite Anode Plant
Positive
Jun 30, 2026
Beowulf Mining’s Finnish arm Grafintec has secured a 12‑month extension, to 30 June 2027, on its reservation of a 13‑hectare site in Kotka’s Keltakallio industrial area for its planned Graphite Anode Materials Plant. The ex...
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.