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Metals Exploration
(LSE:MTL)
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Rating:71Outperform
Price Target:
17.00 p
▲(3.34% Upside)
Action:Reiterated
Date:08/24/26
The score is driven mainly by strong financial performance—deleveraged balance sheet (zero debt) and solid 2025 margins and revenue growth. This is tempered by weaker free-cash-flow conversion in 2025, technically stretched momentum (high RSI/Stoch), and only moderate valuation support at a ~20.8 P/E with no dividend yield data.
Positive Factors
Strong revenue growth
Sustained revenue expansion indicates improving production, sales or asset contribution. Continued growth can support operating leverage and strengthen the company’s ability to fund mining investment, exploration and future resource development.
Negative Factors
Weak free-cash-flow conversion
Lower free-cash-flow conversion suggests that capital spending or working-capital needs are absorbing a larger portion of earnings. If persistent, this could constrain discretionary investment, debt-free cash accumulation and shareholder returns.
Read all positive and negative factors
Positive Factors
Negative Factors
Strong revenue growth
Sustained revenue expansion indicates improving production, sales or asset contribution. Continued growth can support operating leverage and strengthen the company’s ability to fund mining investment, exploration and future resource development.
Read all positive factors
Metals Exploration (MTL) vs. iShares MSCI United Kingdom ETF (EWC)
Market Cap
£498.86M
Dividend YieldN/A
Average Volume (3M)4.26M
Price to Earnings (P/E)22.2
Beta (1Y)0.79
Revenue Growth6.02%
EPS Growth1.37%
CountryUK
Employees1,019
SectorBasic Materials
Sector Strength58
IndustryGold
Share Statistics
EPS (TTM)0.01
Shares Outstanding3,060,466,000
10 Day Avg. Volume5,728,001
30 Day Avg. Volume4,260,137
Financial Highlights & Ratios
PEG Ratio-1.08
Price to Book (P/B)2.23
Price to Sales (P/S)2.65
P/FCF Ratio18.95
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)<0.01
Revenue Forecast (FY)£150.38M
Metals Exploration Business Overview & Revenue Model
Company Description
Metals Exploration plc is a company focused on the discovery, acquisition, exploration, and development of mineral deposits throughout the Western Pacific Rim. Its primary endeavors involve uncovering reserves of both precious and base metals. Not...
How the Company Makes Money
Metals Exploration makes money primarily by producing and selling metals from its mining operations. The core revenue stream is the sale of doré/metal (typically priced against international commodity benchmarks), with cash generation dependent on...
Metals Exploration Financial Statement Overview
Summary
Income Statement
78
Positive
Balance Sheet
90
Very Positive
Cash Flow
72
Positive
| Breakdown | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|
Income Statement | |||||
| Total Revenue | 212.79M | 191.15M | 166.68M | 124.41M | 129.84M |
| Gross Profit | 74.59M | 62.52M | 37.26M | 32.74M | 37.87M |
| EBITDA | 107.56M | 90.25M | 181.78M | 44.60M | 45.71M |
| Net Income | 29.50M | 25.59M | 119.25M | 8.75M | 11.29M |
Balance Sheet | |||||
| Total Assets | 323.27M | 174.29M | 181.48M | 120.61M | 129.65M |
| Cash, Cash Equivalents and Short-Term Investments | 41.19M | 4.05M | 340.00K | 861.07K | 4.74M |
| Total Debt | 0.00 | 6.89M | 23.90M | 81.98M | 102.69M |
| Total Liabilities | 70.39M | 40.74M | 47.55M | 102.84M | 120.12M |
| Stockholders Equity | 252.76M | 133.15M | 133.93M | 17.76M | 9.52M |
Cash Flow | |||||
| Free Cash Flow | 29.79M | 79.42M | 64.31M | 29.96M | 34.59M |
| Operating Cash Flow | 111.08M | 85.47M | 74.56M | 38.19M | 46.52M |
| Investing Cash Flow | -103.34M | -8.90M | -10.25M | -8.23M | -11.87M |
| Financing Cash Flow | 4.26M | -45.69M | -64.80M | -33.82M | -39.67M |
Metals Exploration Technical Analysis
Positive
16.45
Price Trends
13.80
Positive
13.65
Positive
13.99
Positive
Market Momentum
0.82
Negative
74.37
Negative
89.10
Negative
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For GB:MTL, the sentiment is Positive. The current price of 16.45 is above the 20-day moving average (MA) of 14.93, above the 50-day MA of 13.80, and above the 200-day MA of 13.99, indicating a bullish trend. The MACD of 0.82 indicates Negative momentum. The RSI at 74.37 is Negative, neither overbought nor oversold. The STOCH value of 89.10 is Negative, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for GB:MTL.
Metals Exploration Peers Comparison
UnderperformOutperform
Sector (61)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
86 Outperform | £217.48M | 4.67 | 40.37% | 0.02% | 67.11% | 91.17% | |
79 Outperform | £325.26M | 8.15 | 43.19% | ― | 75.97% | 127.98% | |
71 Outperform | £498.86M | 22.23 | 12.27% | ― | 6.02% | 1.37% | |
61 Neutral | $10.43B | 7.12 | -0.05% | 2.87% | 2.86% | -36.73% | |
59 Neutral | £467.08M | 37.25 | 22.56% | ― | 200.18% | ― | |
44 Neutral | £160.58M | -10.00 | -20.68% | ― | ― | ― | |
43 Neutral | £43.05M | -2.63 | -28.28% | ― | ― | -458.82% |
* Basic Materials Sector Average
GB:MTL
Metals Exploration
16.60
3.80
29.69%
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Metals Exploration Corporate Events
Regulatory Filings and Compliance
Metals Exploration Director Rob Marshall Increases Stake in AIM-Listed Gold Miner
Positive
Aug 28, 2026
Metals Exploration plc has disclosed that non-executive director Rob Marshall has increased his stake in the company through the purchase of 123,102 ordinary shares at an average price of £0.1625 per share. Following this transaction, Marshal...
Business Operations and StrategyFinancial DisclosuresPrivate Placements and Financing
Metals Exploration Advances La India Build as Runruno Output Tracks High End of Guidance
Positive
Aug 21, 2026
Metals Exploration has reported strong progress on the development of its La India gold project in Nicaragua, keeping first gold production on schedule for December 2026. The company has secured a US$27 million equipment loan from a local bank, wi...
Business Operations and StrategyPrivate Placements and FinancingRegulatory Filings and Compliance
Metals Exploration Reshapes Shareholder Structure Through Option Exercises and Candy Group Refinancing
Positive
Aug 5, 2026
Metals Exploration has reported a series of share transactions and option and warrant exercises that reshape its shareholder and management ownership structure. Key dealings include a refinancing-related share pledge and option granted by MTL Inve...
Business Operations and StrategyFinancial DisclosuresPrivate Placements and Financing
Metals Exploration boosts cash flow as La India build passes halfway mark
Positive
Jul 16, 2026
Metals Exploration reported a solid second quarter, with its Runruno mine generating US$47.1 million in gold revenue and US$25.2 million of pre-tax free cash flow, supported by improved gold recoveries and an all-in sustaining cost of US$2,019 per...
Regulatory Filings and Compliance
Metals Exploration Reports Internal Reshuffle of Major Candy Shareholding
Neutral
Jun 24, 2026
Metals Exploration PLC reported an internal reorganisation of a major shareholding held by entities associated with property entrepreneur Nick Candy, a person closely associated with the company’s non-executive chairman, Steven Smith. Candy ...
Business Operations and StrategyShareholder Meetings
Metals Exploration Wins Strong Shareholder Backing at AGM
Positive
Jun 15, 2026
Metals Exploration PLC reported that all 10 resolutions presented at its annual general meeting on 15 June 2026 were approved by shareholders on a poll. The votes showed strong support for the board and auditors, as well as for authorities to allo...
Business Operations and Strategy
Metals Exploration Secures Rights to Batong Buhay Copper-Gold Project in Philippines
Positive
Jun 15, 2026
Metals Exploration has secured exclusive rights to explore, develop and operate the 440‑hectare Batong Buhay porphyry copper‑gold project in Kalinga Province, northern Luzon, after reaching agreements with the Philippine Mining Develop...
Private Placements and FinancingRegulatory Filings and Compliance
Metals Exploration Raises £0.4m Through Option Exercises and Updates Voting Rights
Positive
Jun 5, 2026
Metals Exploration PLC has received notices to exercise options over 6,099,128 new ordinary shares at an average price of £0.0665, raising approximately £405,751 in gross proceeds. The new shares are expected to be admitted to trading on...
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.