ANAX Metals Ltd (ANX) fair value: what the stock is really worth
As of Sep 24, 2026: fair value of ANAX Metals Ltd A$0.03, price A$0.04, upside -24.3%, quality 36 out of 100. Calculated from audited financials with 26 valuation models and 37 quality factors, updated daily.
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Price vs Fair Value
White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Sep 24, 2026.
How to read this chart
60‑month range A$0.0040 – A$0.1250 · the A$0.0370 price screens above the A$0.0280 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). Dashed = 300-day average. As of Sep 24, 2026.
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Anax Metals Limited explores, evaluates, and develops mineral properties in Australia. The company explores for gold, copper, zinc, lead, lithium, volcanogenic massive sulphide, rare earth element, silver, and base metal deposits.
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Anax Metals Limited explores, evaluates, and develops mineral properties in Australia. The company explores for gold, copper, zinc, lead, lithium, volcanogenic massive sulphide, rare earth element, silver, and base metal deposits. Its flagship project is the 80% owned Whim Creek project located south-west of Port Hedland in the Central Pilbara region of Western Australia. The company was formerly known as Aurora Minerals Limited and changed its name to Anax Metals Limited in September 2020. Anax Metals Limited was incorporated in 2003 and is based in West Perth, Australia.
Stock analysis
ANAX Metals Ltd (ANX) currently trades at A$0.0370, while our model-based Fair Value estimate is A$0.0280, implying the stock looks roughly 32.1% overvalued today.
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Valuation
How firm this estimate is: it rests on 1 models at a data quality of 95/100, which puts the evidence level at low.
Quality & growth
The Quality Score stands at 36/100 (below-average quality), in the Basic Materials sector.
Mixed Growth: Revenue is growing, but margins or cash flow do not fully confirm the trend.
ANAX Metals Ltd reported revenue of A$197K in FY2025 versus A$2.7M in FY2021, a compound −47.9%/yr. Reported net income was −A$3.8M in FY2025.
Key figures
Market cap A$64.5M (≈ $45.3M) · Return on equity −18.9% · Return on assets (EBIT) −6.9% · Revenue growth (YoY) −17.8% · EPS growth (YoY) −56.9% · Free cash flow −A$2.4M · Net debt A$2.9M.
Competitive moat
Our AI-assisted moat analysis scores the competitive advantage at 32 out of 100 (low confidence).
What moves the price
The share trades about 12% below its 52-week high and 363% above its 52-week low, currently above its 200-day average.
For context, the median of 10 Basic Materials peers we cover trades at 10% fair-value upside, at −24%, ANX screens richer than that median.
Fair Value models
Bear A$0.0280Fair Value A$0.0280Bull A$0.0280
Model ⓘEach model values the company its own way (discounted cash flow, earnings, assets, dividends). The fair value above is their evidence-weighted blend, not the output of a single model.Bear ⓘBear = the cautious scenario: the same model computed with conservative anchors (lower growth, margins and valuation multiples). Together with Bull it frames a plausible valuation range, not a price target.BaseBull ⓘBull = the optimistic scenario: the same model computed with favourable anchors (higher growth, margins and valuation multiples). Together with Bear it frames a plausible valuation range, not a price target.Evidence ⓘEvidence = how well-backed THIS model's estimate is for this stock (0–100): how complete and reliable its input data are, and how well the model fits the company. The final Fair Value is an evidence-weighted blend, so better-evidenced models count more. Green ≥70, amber 50–69, grey below 50.
Growth Quality ⓘGrowth is valuable only when reinvestment earns attractive returns (Aswath Damodaran): sustainable growth depends on return on capital, reinvestment and efficiency. Basis: total company revenue over the periods shown on the cards (3Y/5Y/all years), not per share, so a merger can show up as a growth jump; per-share earnings growth is in the value-creation card.36/100
Revenue is growing, but margins or cash flow do not fully confirm the trend.
Revenue growth 1 year
+145.8%
Revenue growth 3 years ⓘMeasures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump. Per-share growth (which does include buybacks) is in the value-creation card.
+115.7%
Revenue growth 5 years ⓘMeasures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump. Per-share growth (which does include buybacks) is in the value-creation card.
+34.0%
Start year 2020 (pandemic). Over 10 years: −11.1% a year
Revenue growth 20 years ⓘMeasures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump. Per-share growth (which does include buybacks) is in the value-creation card.
−0.2%
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Profit margin (trend) ⓘOperating margin then vs now, from reported annual statements. A falling margin after a boom year is the classic peak-earnings signal: the growth rate then leans on an inflated base.
−3,456.7% (2020) → −1,699.9% (2025)
What shareholders gained per year ⓘWe only publish this rate when it is defensible. Reason: fiscal 2025 is a loss year, no rate is defined from a loss
Price, fair value, quality and upside side by side.
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Peer GroupⓘHow this stock ranks against its industry: the green marker is this stock, the band is the typical 25–75% peer range, and the tick is the median.Other Industrial Metals & Mining · 457 stocks
Beats the industry median on 1/8 measures
Overall it trails its industry peers.
Valuation
Quality Score35 · Below median
Fair Value upside−30% · Below median
Profitability
Return on assets−5% · Below median
Operating margin (TTM)0% · Below median
Growth and dividend
Revenue growth−18% · Below median
Balance sheet
Debt / equity0.13× · Above median
Valuation Multiplesvs Other Industrial Metals & Mining median · lower = cheaper
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Is ANAX Metals Ltd (ANX) overvalued or undervalued?
As of Sep 24, 2026, our model estimates a fair value of A$0.0280 versus a price of A$0.0370, about −24% upside (overvalued).
What is the fair value of ANX?
Our model-based fair value for ANAX Metals Ltd is A$0.0280 (as of Sep 24, 2026), built from audited fundamentals. The current price: A$0.0370.
What is the quality score of ANX?
ANAX Metals Ltd has a Quality Score of 36/100. It measures business quality (profitability, growth, cash flow, balance-sheet strength, investment discipline, share issuance). Market factors such as price momentum and volatility do not enter the number; they are shown separately in the detail view.
What is the price target for ANAX Metals Ltd (ANX)?
Our model-based price target is the fair value of A$0.0280 (as of Sep 24, 2026) from 1 valuation models. It is a calculation from audited fundamentals, not an analyst target.
What is the ANAX Metals Ltd stock forecast for 2026?
Our models put fair value at A$0.0280, about −24% upside versus a price of A$0.0370 (overvalued). The calculation is refreshed regularly with new filings.
What is the intrinsic value of ANAX Metals Ltd (ANX)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For ANAX Metals Ltd it is A$0.0280 per share (as of Sep 24, 2026), against a price of A$0.0370. It is the blended result of 1 valuation models (cash flow, earnings, asset, dividend).
Is ANAX Metals Ltd stock overvalued or undervalued in 2026?
As of Sep 24, 2026, ANX trades above its calculated fair value: price A$0.0370, fair value A$0.0280, a gap of about −24% (overvalued). The calculation is refreshed with each new quarterly report, so the verdict can change during the year.
Is fair value the same as the market price of ANX?
No. The price is what the market pays today (A$0.0370); the fair value is what the company's own numbers justify (A$0.0280). For ANAX Metals Ltd the two are A$0.0090 per share apart. That gap is exactly why we show both numbers side by side.
How much is ANAX Metals Ltd worth?
The market values ANAX Metals Ltd at about A$64.5M (market capitalisation, as of Sep 24, 2026). Per share that is A$0.0370; our models calculate a fair value of A$0.0280 per share.
What is the PEG ratio of ANX?
The PEG ratio of ANAX Metals Ltd is 0.99 (P/E divided by earnings growth, as of Sep 24, 2026). That is below 1, so growth is priced more cheaply than the earnings multiple alone suggests.
How solid is the balance sheet of ANAX Metals Ltd (ANX)?
Balance-sheet figures for ANAX Metals Ltd (as of Sep 24, 2026): return on equity −18.9%, debt of 0.13 per unit of equity. They feed the Quality Score of 36/100, which measures business quality independently of the share price.
How far is ANX from its 52-week high?
ANAX Metals Ltd trades at A$0.0370, about 12% below its 52-week high of A$0.0420 and 363% above the low of A$0.0080 (as of Sep 24, 2026). Distance from the high says nothing about value: that is what the fair value of A$0.0280 is for.
Which stocks are comparable to ANAX Metals Ltd?
From the same area (Basic Materials) we also value Vale S.A, Saudi Arabian Mining Company, CMOC Group, China Tungsten And Hightech Materials Co, among others. Each of them has its own fair-value calculation on this site using the same models, so the comparison is like for like.
Is ANAX Metals Ltd stock attractive at the current price?
The data as of Sep 24, 2026: price A$0.0370, calculated fair value A$0.0280 (−24%), Quality Score 36/100, from 1 models. Whether that fits your horizon and risk tolerance is your call. We provide the calculation, not investment advice.
How is the fair value of ANX calculated?
We run ANAX Metals Ltd through 1 models from four families: discounted cash flow, earnings models, asset and balance-sheet models, and dividend models. Every model gets the same audited fundamentals; the result is the weighted average of A$0.0280, with the spread shown as a cautious and an optimistic scenario.
Is it still worth investing in stocks now?
The global stock market currently sits 13.0 % above its aggregate fair value. ANAX Metals Ltd itself currently trades above fair value. An expensive market is no reason to stay out and no reason to buy everything at once: keep a broad savings plan running, buy single stocks only with money you can do without, and hold part of your money liquid while the market is high. The full picture including sectors is on is it worth investing now.
What is the share price of ANAX Metals Ltd (ANX)?
The closing price on Sep 24, 2026 was A$0.0370. Our model-based fair value is A$0.0280, about −24% upside (overvalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with ANAX Metals Ltd right now?
The price sits above even our optimistic bull case (A$0.0280). The favourable scenario is already priced in. Weak quality (36/100) and above fair value at the same time, the margin of safety is missing on both counts. Evidence is limited here (fewer models, shorter history), so the fair value is a rougher estimate than usual.
Key figures of ANAX Metals Ltd
How large is the market capitalisation of ANAX Metals Ltd (ANX)?
The market capitalisation of ANAX Metals Ltd is A$64.5M (≈ $45.3M). The stock-market value of the whole company: share price times number of shares. It is what the market asks for the entire business today.
What is the return on equity of ANAX Metals Ltd (ANX)?
The return on equity (ROE) of ANAX Metals Ltd is −18.9% (last twelve months). Profit relative to shareholders' equity, how efficiently the company works with its owners' money.
What is the EBIT return on assets of ANAX Metals Ltd (ANX)?
On an EBIT basis the return on assets of ANAX Metals Ltd is −6.9% (avg 5y). Operating profit (EBIT) relative to everything the company owns, as a multi-year average. It describes the business model rather than one good or bad year.
How fast is revenue growing at ANAX Metals Ltd (ANX)?
Revenue at ANAX Metals Ltd is growing −17.8% versus a year earlier (3y avg +116%). How much revenue grew versus a year earlier (YoY). The 3-year average next to it puts the single year in context.
How fast are earnings growing at ANAX Metals Ltd (ANX)?
Earnings per share at ANAX Metals Ltd are growing −56.9% versus a year earlier. How much earnings per share grew versus a year earlier.
How much free cash flow does ANAX Metals Ltd (ANX) generate?
The free cash flow of ANAX Metals Ltd is −A$2.4M (fiscal year 2025). The cash truly left after running and investing in the business, this is what pays dividends and buybacks.
How much net debt does ANAX Metals Ltd (ANX) carry?
The net debt of ANAX Metals Ltd is A$2.9M (fiscal year 2025). Debt minus cash on hand. The note shows how many years of free cash flow could in theory pay it off.
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