Financials Metals Acquisition Limited

Equities

MTAL

JE00BQBC8469

Specialty Mining & Metals

End-of-day quote Nyse Other stock markets 06:00:00 2024-05-09 pm EDT			5-day change	1st Jan Change
13.12 ^USD	+1.86%		+2.10%	+6.15%

May. 01	Metals Acquisition Limited Announces Appointment of Leanne Heywood as Non-Executive Director to the Board of Directors and Chris Rosario to Joint Company Secretary	CI
Apr. 23	Transcript : Metals Acquisition Limited, 2023 Guidance/Update Call, Apr 22, 2024

Valuation

Fiscal Period: December	2023	2024	2025	2026
Capitalization ¹	620.9	909.9	-	-
Enterprise Value (EV) ¹	1,037	1,018	948.7	803.9
P/E ratio	-2.56 x	-30.4 x	856 x	37.4 x
Yield	-	-	-	-
Capitalization / Revenue	3.91 x	2.69 x	2.3 x	2.03 x
EV / Revenue	6.52 x	3 x	2.4 x	1.8 x
EV / EBITDA	31.5 x	5.9 x	4.3 x	3.03 x
EV / FCF	-37.7 x	36.8 x	10.1 x	4.58 x
FCF Yield	-2.66%	2.71%	9.88%	21.8%
Price to Book	-	1.99 x	1.98 x	1.94 x
Nbr of stocks (in thousands)	50,237	69,354	-	-
Reference price ²	12.36	13.12	13.12	13.12
Announcement Date	2/29/24	-	-	-

¹USD in Million²USD

Estimates

Income Statement Evolution (Annual data)

Fiscal Period: December	2022	2023	2024	2025	2026
Net sales ¹	-	159	338.8	395.2	447.3
EBITDA ¹	-	32.92	172.4	220.9	265.4
EBIT ¹	-	-13.8	73.21	112	159.2
Operating Margin	-	-8.68%	21.61%	28.35%	35.59%
Earnings before Tax (EBT) ¹	-4.743	-159.6	-17.3	27.25	74.05
Net income ¹	-4.743	-144.6	-13.46	18.39	48.69
Net margin	-	-90.92%	-3.97%	4.65%	10.89%
EPS ²	-	-4.830	-0.4310	0.0153	0.3507
Free Cash Flow ¹	-	-27.54	27.62	93.7	175.6
FCF margin	-	-17.32%	8.15%	23.71%	39.26%
FCF Conversion (EBITDA)	-	-	16.02%	42.42%	66.15%
FCF Conversion (Net income)	-	-	-	509.56%	360.68%
Dividend per Share	-	-	-	-	-
Announcement Date	3/24/23	2/29/24	-	-	-

¹USD in Million²USD

Estimates

Income Statement Evolution (Quarterly data)

Fiscal Period: December	2024 Q1	2024 Q2	2024 Q3	2024 Q4
Net sales ¹	55	-	-	-
EBITDA ¹	18	26	29	35
EBIT	-	-	-	-
Operating Margin	-	-	-	-
Earnings before Tax (EBT)	-	-	-	-
Net income	-	-	-	-
Net margin	-	-	-	-
EPS	-	-	-	-
Dividend per Share	-	-	-	-
Announcement Date	-	-	-	-

¹USD in Million

Estimates

Balance Sheet Analysis

Fiscal Period: December	2022	2023	2024	2025	2026
Net Debt ¹	-	417	108	38.8	-
Net Cash position ¹	-	-	-	-	106
Leverage (Debt/EBITDA)	-	12.65 x	0.6256 x	0.1755 x	-
Free Cash Flow ¹	-	-27.5	27.6	93.7	176
ROE (net income / shareholders' equity)	-	-53.9%	-3.79%	2.5%	7.73%
ROA (Net income/ Total Assets)	-	-	0.8%	4.2%	7.1%
Assets ¹	-	-	-1,683	437.8	685.7
Book Value Per Share ²	-	-	6.580	6.610	6.750
Cash Flow per Share ²	-	-0.0800	1.670	2.310	3.130
Capex ¹	-	25.2	47.4	51.1	45.1
Capex / Sales	-	15.82%	13.99%	12.92%	10.09%
Announcement Date	3/24/23	2/29/24	-	-	-

¹USD in Million²USD

Estimates

EPS & Dividend

Year-on-year evolution of the PER

Change in Enterprise Value/EBITDA

Ratings for Metals Acquisition Limited

Trading Rating

Investor Rating

ESG Refinitiv

More Ratings

Analysts' Consensus

Sell

Buy

Mean consensus

BUY

Number of Analysts

Last Close Price

13.12 USD

Average target price

15.51 USD

Spread / Average Target

+18.25%

Consensus

EPS Revisions

Estimates Revisions

Annual profits - Rate of surprise

Company calendar

Sector Copper Ore Mining

	1st Jan change	Capi.
METALS ACQUISITION LIMITED	+6.15%	910M
PT AMMAN MINERAL INTERNASIONAL TBK	+45.04%	42.88B
ANTOFAGASTA PLC	+34.27%	27.82B
SOCIEDAD MINERA CERRO VERDE S.A.A.	+9.59%	14.01B
FIRST QUANTUM MINERALS LTD.	+68.11%	11.04B
KGHM POLSKA MIED? S.A.	+22.25%	7.51B
TONGLING NONFERROUS METALS GROUP CO.,LTD.	+25.91%	7.24B
KATANGA MINING LIMITED	+19.23%	6.98B
CAPSTONE COPPER CORP.	+66.67%	5.93B
HINDUSTAN COPPER LIMITED	+31.47%	4.31B

Copper Ore Mining