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29Metals Limited (TWNMF) fair value: what the stock is really worth

As of Sep 25, 2026: fair value of 29Metals Limited $0.13, price $0.17, upside -25.3%, quality 31 out of 100. Calculated from audited financials with 26 valuation models and 37 quality factors, updated daily.

  1. Fair value above price? No
  2. Good quality? No
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Basic Materials · US · Home Australia

2L 29Metals Limited logo Thin data Sep 24, 2026

29Metals Limited

TWNMF · US

Weak valuationQuality is weak on top of the rich price.

!Fair value $0.1300 · Overvalued (−25.3%)
!Quality 31/100
!Weak Growth (revenue 3y −7.4 %/yr)
!Thin margins · 4.3% net margin (TTM)
!Low debt · negative free cash flow
!Mixed vs. peers (6/12)
!Narrow moat 28/100
!Evidence only low, so the estimate is less certain
!Weak on past: 22 out of 100
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What runs behind every stock

26 valuation models 8 families, DCF to NCAV 37 quality factors margins, balance sheet, cashflow, debt 6 AI factors moat, what no ratio measures 2,000+ data points verified, per stock, median

69 individual criteria per stock, every one traceable See the method →

Price vs Fair Value

$0.3297 $0.1300 Fair Value $0.1300 Apr 2024 Sep 2026

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

29‑month range $0.1300 – $0.3297 · fair‑value band $0.0900 – $0.1700 · the $0.1740 price screens above the $0.1300 fair value. Dashed = 300-day average. As of Sep 24, 2026.

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Company profile

29Metals Limited operates as a copper-focused base and precious metals mining company in Australia and Chile. The company explores copper, gold, silver, zinc, and lead deposits. It is also involved in base and precious metals mining, mineral production, and associated activities; exploration for mineral resources; and Cervantes, and Gossan Valley projects.

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29Metals Limited operates as a copper-focused base and precious metals mining company in Australia and Chile. The company explores copper, gold, silver, zinc, and lead deposits. It is also involved in base and precious metals mining, mineral production, and associated activities; exploration for mineral resources; and Cervantes, and Gossan Valley projects. Its primary assets include the Golden Grove property covering an area of approximately 129 square kilometers located in Western Australia; the Capricorn Copper property covering an area of approximately 1,900 square kilometers situated in Queensland; and Redhill property covering an area of approximately 227 square kilometers. 29Metals Limited was incorporated in 2021 and is headquartered in Melbourne, Australia.

Stock analysis

29Metals Limited (TWNMF) currently trades at $0.1740, while our model-based Fair Value estimate is $0.1300, 25.3% below the price, so the stock looks overvalued today.

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Valuation

Bull case: the Multiples group reads highest at a median of $0.1600 per share, and 0 of the 11 models we run sit above the $0.1740 price.

Bear case: the Earnings-Based group reads lowest at $0.0700, and 11 of the 11 models stay below the price. Evidence for this calculation is low.

Scenario range: $0.0900 (bear) to $0.1700 (bull), the price of $0.1740 sits above it. Bear and bull are the same models on cautious and optimistic assumptions, a range, not a price target.

Quality & growth

The Quality Score stands at 31/100 (below-average quality), in the Basic Materials sector.

Weak Growth: Revenue growth is weak: less than 2 % a year.

29Metals Limited reported revenue of A$566M in FY2025 versus A$594M in FY2021, a compound −1.2%/yr. Reported net income was A$24.2M in FY2025, compounding −33.1%/yr from FY2021.

Key figures

Market cap $386M · P/E ratio 17.4 · P/S ratio 0.74 · EPS (TTM) $0.0100 · Net margin 4.3% · Return on equity 5.6% · Return on assets (EBIT) −7.8% · Operating margin 7.3%.

Competitive moat

Our AI-assisted moat analysis scores the competitive advantage at 28 out of 100 (low confidence).

What moves the price

The share trades about 43% below its 52-week high and 34% above its 52-week low, currently below its 200-day average.

For context, the median of 10 Basic Materials peers we cover trades at −4% fair-value upside, at −25%, TWNMF screens richer than that median.

Fair Value models

Bear $0.0900 Fair Value $0.1300 Bull $0.1700
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. Based on fiscal year 2025 figures (about 9 months old). Earnings retained since then ($0.0076 per share) are deliberately not added. 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. If a model's bull case is above four times its base value, the table shows that limit with a > sign (like the overall Bull above): beyond it no assumption holds. 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.
Highest evidence
EPV $0.0600 $0.0700 $0.0800 71
ROIC Compounder $0.0600 $0.0700 $0.0800 69
Residual Income $0.1300 $0.1300 $0.1400 68
All 11 models by family
Earnings-Based
Graham-Dodd $0.0700 $0.1000 $0.1200 65
EPV $0.0600 $0.0700 $0.0800 71
Multiples
P/E Multiple $0.1200 $0.1600 $0.2000 63
P/S Multiple $0.1200 $0.1600 $0.2000 58
P/B Multiple $0.1200 $0.1600 $0.2000 55
EV/EBIT $0.1100 $0.1500 $0.1900 66
EV/Revenue $0.0900 $0.1400 $0.1800 53
Asset-Based
NCAV (Graham) $0.0900 $0.1200 $0.1800 54
Economic Profit
Residual Income $0.1300 $0.1300 $0.1400 68
ROIC Compounder $0.0600 $0.0700 $0.0800 69
Growth Earnings
Growth-Adj P/E $0.0900 $0.1200 $0.1600 65

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Quality Score breakdown

Overall quality 31/100

Of which business quality 30 · Market factors (momentum, volatility) 41

Profitability 31
Margins and returns on capital today
Quality Growth 69
Are margins and returns improving?
Cashflow 0
Earnings quality: real cash, not paper profit
Fin. Strength 36
Balance sheet, leverage, solvency risk
Investment 67
Disciplined investing over empire-building
Low Volatility 33
Calm price path (market factor)
Momentum 42
Price trend over the last 3–12 months (market factor)
52W Momentum 48
Distance to the 52-week high (market factor)
Net Issuance 0
Share count: buybacks or dilution?

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Revenue & earnings trend

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. 14/100
Revenue growth is weak: less than 2 % a year.
Revenue growth 1 year
+1.5%
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.
−7.4%
What shareholders gained per year (last 5 years) ⓘWhat the business itself delivers per year: earnings growth per share plus the dividend yield. This is what you get IF the market keeps valuing the stock the same way: it contains no assumption about the market changing its mind. Computed per share, so buybacks count and a merger does not pass as growth. For a company that pays no dividend it is pure earnings growth per share. Period: earnings growth per share as CAGR over the last 5 reported fiscal years (annual statements), plus the current dividend yield. The start value is the median of the three years around the start, so a single crisis year (a pandemic or a write-down) does not distort the rate.
−39.6%
Earnings growth per share plus dividend.
Earnings per share, growth per year−39.6%
Dividend (yield on the price)0.0%
Profit margin 2021 to 2025 ⓘ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.16% → 5%

TWNMF screens overvalued: fair value 25% below the price. Compare with PT Amman Mineral Internasional Tbk →

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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 Precious Metals & Mining · 105 stocks

Beats the industry median on 6/12 measures
A mixed picture versus its industry peers.
Valuation
Quality Score 31 · Below median
Fair Value upside −54.5% · Below median
Profitability
Return on equity (TTM) 5.6% · Above median
Return on assets 2.2% · Above median
Net margin (TTM) 4.3% · Below median
Operating margin (TTM) 7.3% · Above median
Growth and dividend
Revenue growth −4.0% · Below median
Balance sheet
Debt / equity 0.32× · Highest 25%

Valuation Multiplesvs Other Precious Metals & Mining median · lower = cheaper

P/E (TTM) 17.4× · Pricier than median
P/B 1.25× · Cheaper than median
P/S (TTM) 0.98× · Cheapest 25%
EV/EBITDA 4.6× · Cheapest 25%

Strength profile in five axes (Snowflake)

VALUEFUTUREPASTHEALTHDIVIDEND
This stock
VALUEFUTUREPASTHEALTHDIVIDEND
Sector peers
VALUE (fair-value potential)0 · sector 0
FUTURE (revenue growth)0 · sector 72
PAST (return on equity)22 · sector 0
HEALTH (low debt)84 · sector 99
DIVIDEND (yield)0 · sector 60

VALUE 0: the price sits above our fair-value range.

Context: sector, industry, market

Values & ESG

Does this company touch areas you may want to avoid? The classification is inferred from sector and industry.

None of the checked exposures detected

Similar stocks

10 more Other Precious Metals & Mining stocks, each showing price versus our Fair Value estimate.

Stock Price Fair Value vs Fair Value
PT Amman Mineral Internasional Tbk AMMN 4,240 IDR 878.20 IDR −79%
Hecla Mining Company HL $17.00 $16.30 −4%
Compañía de Minas Buenaventura S.A. BVN $32.05 $26.98 −16%
Sibanye Stillwater Limited SBSW $10.19 $14.83 +46%
China Gold International Resources Corp CGG C$39.53 C$43.48 +10%
Artemis Gold Inc ARTG C$40.20 C$15.84 −61%
Triple Flag Precious Metals Corp TFPM $32.19 $32.48 +1%
Perpetua Resources Corp PPTA $21.82 $6.07 −72%
Sino-Platinum Metals Co 600459 ¥18.02 ¥13.23 −27%
Al Masane Al Kobra Mining Company 1322 70.50 SAR 77.55 SAR +10%

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29Metals Limited · Fair Value
$0.1300 −25%Fair Value
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Cite: Fair Value Calculator (2026). "29Metals Limited Fair Value". https://www.fairvalue-calculator.com/stock/TWNMF

Frequently asked questions

Is 29Metals Limited (TWNMF) overvalued or undervalued?
As of Sep 24, 2026, our model estimates a fair value of $0.1300 versus the last price from Sep 25, 2026 of $0.1740, about −25% upside (overvalued).
What is the fair value of TWNMF?
Our model-based fair value for 29Metals Limited is $0.1300 (as of Sep 24, 2026), built from audited fundamentals. Last price (from Sep 25, 2026): $0.1740.
What is the quality score of TWNMF?
29Metals Limited has a Quality Score of 31/100. 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 29Metals Limited (TWNMF)?
Our model-based price target is the fair value of $0.1300 (as of Sep 24, 2026) from 11 valuation models. Cautious scenario $0.0900, optimistic scenario $0.1700. It is a calculation from audited fundamentals, not an analyst target.
What is the 29Metals Limited stock forecast for 2026?
Our models put fair value at $0.1300, about −25% upside versus the last price from Sep 25, 2026 of $0.1740 (overvalued). Cautious scenario $0.0900, optimistic scenario $0.1700. The calculation is refreshed regularly with new filings.
What is the revenue of 29Metals Limited (TWNMF)?
29Metals Limited reported trailing-twelve-month revenue of about A$567M (latest available figure, as of Sep 24, 2026).
What is the intrinsic value of 29Metals Limited (TWNMF)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For 29Metals Limited it is $0.1300 per share (as of Sep 24, 2026), against a price of $0.1740. It is the blended result of 11 valuation models (cash flow, earnings, asset, dividend).
Is 29Metals Limited stock overvalued or undervalued in 2026?
As of Sep 24, 2026, TWNMF trades above its calculated fair value: price $0.1740, fair value $0.1300, a gap of about −25% (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 TWNMF?
No. The price is what the market pays today ($0.1740); the fair value is what the company's own numbers justify ($0.1300). For 29Metals Limited the two are $0.0440 per share apart. That gap is exactly why we show both numbers side by side.
How much is 29Metals Limited worth?
The market values 29Metals Limited at about $386M (market capitalisation, as of Sep 24, 2026). Per share that is $0.1740; our models calculate a fair value of $0.1300 per share.
What do the bullish and bearish scenarios say about TWNMF?
Our models span a range for 29Metals Limited: cautious scenario $0.0900, base $0.1300, optimistic $0.1700 per share (as of Sep 24, 2026, price $0.1740). The range comes from different growth and margin assumptions, not from analyst opinions.
What is the P/E ratio of TWNMF?
29Metals Limited trades at a price-to-earnings ratio of 17.4 (as of Sep 24, 2026). A P/E on its own says little: it compares the price with ONE year of profit, while our fair value of $0.1300 is built from several models across several years. Other multiples: P/B 1.3, P/S 1.0, EV/EBITDA 4.6.
How solid is the balance sheet of 29Metals Limited (TWNMF)?
Balance-sheet figures for 29Metals Limited (as of Sep 24, 2026): return on equity 5.6%, debt of 0.32 per unit of equity. They feed the Quality Score of 31/100, which measures business quality independently of the share price.
How far is TWNMF from its 52-week high?
29Metals Limited trades at $0.1740, about 43% below its 52-week high of $0.3049 and 34% above the low of $0.1300 (as of Sep 25, 2026). Distance from the high says nothing about value: that is what the fair value of $0.1300 is for.
Which stocks are comparable to 29Metals Limited?
From the same area (Basic Materials) we also value PT Amman Mineral Internasional Tbk, Hecla Mining Company, Compañía de Minas Buenaventura S.A., Sibanye Stillwater Limited, 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 29Metals Limited stock attractive at the current price?
The data as of Sep 24, 2026: price $0.1740, calculated fair value $0.1300 (−25%), Quality Score 31/100, from 11 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 TWNMF calculated?
We run 29Metals Limited through 11 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 $0.1300, 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 14.5 % above its aggregate fair value. 29Metals Limited 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 29Metals Limited (TWNMF)?
The latest price we hold is from Sep 25, 2026 and stands at $0.1740. Our model-based fair value is $0.1300, about −25% upside (overvalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with 29Metals Limited right now?
The price sits above even our optimistic bull case ($0.1700). The favourable scenario is already priced in. Weak quality (31/100) and above fair value at the same time, the margin of safety is missing on both counts. A fairly wide model range ($0.0900 to $0.1700) leaves room in how you read the outcome. Evidence is limited here (fewer models, shorter history), so the fair value is a rougher estimate than usual.

Key figures of 29Metals Limited

How large is the market capitalisation of 29Metals Limited (TWNMF)?
The market capitalisation of 29Metals Limited is $386M. 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 P/S ratio of 29Metals Limited (TWNMF)?
The price-to-sales ratio of 29Metals Limited is 0.74 (P/E × margin). Price to sales: market value relative to yearly revenue. Useful when profit is thin or distorted.
What are the earnings per share of 29Metals Limited (TWNMF)?
Earnings per share at 29Metals Limited are $0.0100 (price ÷ EPS = P/E 17.4). Earnings per share over the last twelve months: total profit spread across every single share.
What is the net margin of 29Metals Limited (TWNMF)?
The net margin of 29Metals Limited is 4.3% (fiscal year 2025). How much of every unit of revenue ends up as profit. 10% means 10 cents of profit per dollar of sales.
What is the return on equity of 29Metals Limited (TWNMF)?
The return on equity (ROE) of 29Metals Limited is 5.6% (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 29Metals Limited (TWNMF)?
On an EBIT basis the return on assets of 29Metals Limited is −7.8% (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.
What is the operating margin of 29Metals Limited (TWNMF)?
The operating margin of 29Metals Limited is 7.3% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at 29Metals Limited (TWNMF)?
Revenue at 29Metals Limited is growing −4.0% versus a year earlier (3y avg −7.4%). How much revenue grew versus a year earlier (YoY). The 3-year average next to it puts the single year in context.
How much free cash flow does 29Metals Limited (TWNMF) generate?
The free cash flow of 29Metals Limited is −A$68.2M (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 29Metals Limited (TWNMF) carry?
The net debt of 29Metals Limited is A$85.2M (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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