Image source: Shutterstock

Highlights

  • Central Asia Metals is a UK-based copper producer with operations spread across Macedonia, Kounrad, and Kazakhstan.
  • During H1 FY23, the firm registered an increase in the production of copper to 6,716 tonnes against 6,617 tonnes in H1 FY22.
  • The company has declared to pay an interim dividend of GBX 9.0 per share in the month of October 2023.

FTSE AIM UK 50 Index-listed Central Asia Metals PLC (LSE: CAML) is a United Kingdom-based copper producer with operations spread across Macedonia, Kounrad, and Kazakhstan. The company undertakes all the exploration activities in Kazakhstan following the geological team of Terra Exploration.

During the first half of the year 2023, the firm registered an increase in the production of copper to 6,716 tonnes against 6,617 tonnes in the previous corresponding period. However, the production of lead dropped slightly to 13,734 tonnes in H1 FY23, as compared to 13,827 tonnes in H1 FY22. As reported, Central Asia Metals remained debt-free at the end of the reporting period, even amid the scenario of rising interest rates.

The company has declared to pay an interim dividend of GBX 9.0 per share in the month of October 2023.

The company’s gross revenue for H1 FY23 was recorded at USD 99.30 million, 16.9% year-on-year decrease from USD 119.50 million in H1 FY22. The drop in revenue was mainly because of the lower average realized prices of the metals.

Also, the drop in revenue and increased inflationary pressure led to lower EBITDA. It was recorded at USD 48.90 million in H1 FY23, marking a decline of 34.7% from USD 74.90 million in pcp.

For the full year FY23, Central Asia Metals is expecting its production of copper to range between 13,000 tonnes and 14,000 tonnes, while its lead in concentrate form is likely to be between 27,000 tonnes and 29,000. The company expects zinc in concentrate form to be between 19,000 tonnes and 21,000 tonnes for FY23.

Top 10 shareholders
Around 44.65% of the total shareholdings is constituted by its top ten shareholders collectively. While BlackRock Investment Management (UK) Ltd. owns maximum shares of approximately 6.82%, J O Hambro Capital Management Limited holds nearly 6.58% shareholding in the firm.

Stock Price Performance

The company’s stock price has increased by 2.74% in the last three months. The stock’s 52-week high and 52-week low stand at GBX 299.00 and GBX 169.17, respectively.

Please note markets are trading in a highly volatile zone currently due to certain macroeconomic and geopolitical tensions prevailing. Therefore, it is prudent to follow a cautious approach while investing.

Note 1: Past performance is not a reliable indicator of future performance.

Note 2: The reference data for all price data, currency, technical indicators, support, and resistance levels is 13 September 2023. The reference data in this report has been partly sourced from EODHD/Others.