Image source: © 2025 Krish Capital Pty. Ltd.

Highlights

  • Cantor Fitzgerald analyst has assigned a “Buy (Speculative)” rating to ACG Metals, with a price target of AUD 23.43.
  • EBITDA margin stood at c.51%, with an operating cash flow margin of c.44%, supported by rising gold and silver prices.
  • Gediktepe sulphide expansion is on schedule for full commercial production by H1 2026, with physical construction underway.

Cantor Fitzgerald analyst Puneet Singh has assigned a “Buy (Speculative)” rating to ACG Metals Ltd (LSE:ACG), with a price target of AUD 23.43, indicating a potential upside of 15.58% from current levels.

Interim Financial Results for H1 2025

In the six months ended 30 June 2025, the company reported 3% YoY increase in Gold equivalent productionto 22,263 oz. All-in sustaining costs (AISC) declined 13% to USD 1,060/oz, while the rise in commodity prices contributed to an EBITDA margin of approximately 51% and an operating cash flow margin of around 44%. The Gediktepe site maintained its excellent safety record, reaching 818 LTI-free days as of 30 June 2025.

Strategic Milestones and Leadership Appointments

The company achieved several important milestones in H1 2025, beginning with the successful settlement of a USD 200 million four-year senior secured bond on 13 January 2025. The proceeds were directed towards refinancing prior acquisition-linked debt and the Gediktepe sulphide expansion.

In the same month, the company appointed a Non-Executive Director - Michael R. Pompeo. Alongside this, Damien Coles joined as CLO, bringing more than two decades of international legal and transactional expertise to support growth and governance initiatives.

Data source: Company update

The hedge provides downside protection at levels above budget assumptions while preserving upside potential for prices above USD 3,065/oz. During the same period, ACG also completed a tender for up to 70% of outstanding warrants, effectively reducing overhang on its shares.

The company named Peter Carter as COO in June 2025.