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Treasury Wine (TWE) and 29Metals Ltd (29M)

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Question asked 30/05/2025

Treasury Wine (TWE) and 29Metals Ltd (29M)

Is it time to revisit TWE? It’s hitting 12 month lows, has ok PE, ROE and ROA, and a clear vision for growth in higher end product from here, it’s new US acquisition and China. Healthy dividends and an impressively experienced new CEO starting soon. 29M was trading ~$2 2 yrs ago before its QLD mine flooded…twice! It’s now at $0.20 with its W.A. mine ramping up production and it’s flooded QLD nearing re-start. An under valued Aussie copper stock? It’s also just had a $180M cap raise.

Answer

Hi Andrew,

Treasury Wine (TWE) – Great timing here as we covered TWE in depth on Wednesday, our conclusion being the stock is starting to show compelling value as it plumbs multi-year lows ~$8.
29Metals Ltd (29M) – After its $180mn capital raise in December to pay down debt, 29M still only has a market cap. of $288mn. Notably, EMR Capital, the company’s largest shareholder at the time with a 45% stake, opted not to participate in this capital raising. The stock fell ~10% in April after reporting revenue fell almost 8% qoq. We think 29M is all too hard here and prefer other copper ASX stocks like Sandfire (SFR) and AIC Mines (A1M).

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29 Metals Ltd (29M)

LAST UPDATED 28/05/2025 17:44

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