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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
Deleveraged Balance Sheet
A debt-free balance sheet materially reduces financial risk and interest burdens, giving Metals Exploration greater flexibility to fund operations, sustain production, and pursue resource opportunities. Growing equity and assets also provide a stronger platform for absorbing commodity or operational volatility.
Negative Factors
Weak Free-Cash-Flow Conversion
The sharp decline in free cash flow means strong reported profitability is not translating fully into discretionary cash generation. Higher reinvestment or working-capital demands could limit funds available for debt-free expansion, shareholder returns, or protection against weaker operating conditions.
Read all positive and negative factors
Positive Factors
Negative Factors
Deleveraged Balance Sheet
A debt-free balance sheet materially reduces financial risk and interest burdens, giving Metals Exploration greater flexibility to fund operations, sustain production, and pursue resource opportunities. Growing equity and assets also provide a stronger platform for absorbing commodity or operational volatility.
Read all positive factors
Metals Exploration (MTL) vs. iShares MSCI United Kingdom ETF (EWC)
Market Cap
£485.65M
Dividend YieldN/A
Average Volume (3M)4.03M
Price to Earnings (P/E)18.3
Beta (1Y)0.95
Revenue Growth-16.62%
EPS GrowthN/A
CountryUK
Employees1,019
SectorBasic Materials
Sector Strength58
IndustryGold
Share Statistics
EPS (TTM)0.01
Shares Outstanding3,073,724,000
10 Day Avg. Volume5,826,308
30 Day Avg. Volume4,025,987
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)£155.11M
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 | TTM | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 187.88M | 212.79M | 191.15M | 166.68M | 124.41M | 129.84M |
| Gross Profit | 74.24M | 74.59M | 62.52M | 37.26M | 32.74M | 37.87M |
| EBITDA | 103.30M | 107.56M | 90.25M | 181.78M | 44.60M | 45.71M |
| Net Income | 34.17M | 29.50M | 25.59M | 119.25M | 8.75M | 11.29M |
Balance Sheet | ||||||
| Total Assets | 344.39M | 323.27M | 174.29M | 181.48M | 120.61M | 129.65M |
| Cash, Cash Equivalents and Short-Term Investments | 9.05M | 41.19M | 4.05M | 340.00K | 861.07K | 4.74M |
| Total Debt | 0.00 | 0.00 | 6.89M | 23.90M | 81.98M | 102.69M |
| Total Liabilities | 64.27M | 70.39M | 40.74M | 47.55M | 102.84M | 120.12M |
| Stockholders Equity | 280.04M | 252.76M | 133.15M | 133.93M | 17.76M | 9.52M |
Cash Flow | ||||||
| Free Cash Flow | -45.69M | 29.79M | 79.42M | 64.31M | 29.96M | 34.59M |
| Operating Cash Flow | 84.50M | 111.08M | 85.47M | 74.56M | 38.19M | 46.52M |
| Investing Cash Flow | -125.01M | -103.34M | -8.90M | -10.25M | -8.23M | -11.87M |
| Financing Cash Flow | 4.14M | 4.26M | -45.69M | -64.80M | -33.82M | -39.67M |
Metals Exploration Technical Analysis
Negative
16.45
Price Trends
16.35
Negative
14.77
Positive
14.57
Positive
Market Momentum
-0.10
Positive
41.26
Neutral
22.23
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For GB:MTL, the sentiment is Negative. The current price of 16.45 is below the 20-day moving average (MA) of 16.51, above the 50-day MA of 16.35, and above the 200-day MA of 14.57, indicating a neutral trend. The MACD of -0.10 indicates Positive momentum. The RSI at 41.26 is Neutral, neither overbought nor oversold. The STOCH value of 22.23 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative 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 |
|---|---|---|---|---|---|---|---|
82 Outperform | £137.35M | 2.75 | 35.76% | 0.03% | 63.34% | 67.29% | |
71 Outperform | £485.65M | 18.28 | 12.83% | ― | -16.62% | ― | |
69 Neutral | £239.44M | 4.13 | 43.53% | ― | 67.48% | 66.08% | |
61 Neutral | $10.43B | 7.12 | -0.05% | 2.87% | 2.86% | -36.73% | |
52 Neutral | £435.56M | 9.92 | 53.59% | 0.79% | 220.16% | ― | |
46 Neutral | £35.65M | -3.58 | -12.69% | 22.22% | ― | -416.67% | |
44 Neutral | £93.10M | -6.15 | -15.03% | ― | ― | -200.00% |
* Basic Materials Sector Average
GB:MTL
Metals Exploration
15.80
3.20
25.40%
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Metals Exploration Corporate Events
Business Operations and StrategyRegulatory Filings and Compliance
Metals Exploration Restarts Construction at La India Project After Fatal Incident
Negative
Oct 21, 2026
Metals Exploration has restarted construction work across its La India gold project site in Nicaragua, two days after an incident on 19 October 2026 led to a temporary halt and a safety stand-down. The resumption follows sign-off from the relevant...
Business Operations and Strategy
Metals Exploration shuts La India site after fatal construction accident
Negative
Oct 20, 2026
Metals Exploration plc, a London AIM-listed mining and exploration company, is developing the La India gold project in Nicaragua as part of its broader focus on precious metals. The group’s operations centre on advancing construction and pro...
Business Operations and StrategyFinancial Disclosures
Metals Exploration Delivers Cash Flow as La India Build Advances Amid Lower Runruno Output
Neutral
Sep 30, 2026
Metals Exploration reported unaudited interim results for the six months to 30 June 2026 showing a sharply lower gold output from the Runruno mine, with production falling to 21,451 ounces and recoveries dropping to 80.7% from 91.4% a year earlier...
Business Operations and StrategyPrivate Placements and Financing
Metals Exploration Advances La India Build and Reports High-Grade La Grecia Drilling
Positive
Sep 28, 2026
Metals Exploration has fully drawn its US$27 million equipment financing from Banco de America Central to fund the initial CAT mining fleet at its La India gold project in Nicaragua, leaving the company with a cash balance of about £25.8 mill...
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...
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.