Aeris Resources Limited

This report is an updated version of the report published on 13 August 2025 at 11:59 AM AEST.

Section 1: Company Overview and Fundamental Insights

1.1 Company Overview: Aeris Resources Limited (ASX: AIS) is an Australian mid-tier mining company specializing in the production, exploration, and sale of copper, gold, zinc, and silver. With a copper-dominant portfolio, Aeris operates key assets including the Tritton Copper Operations in New South Wales, the Cracow Gold Operations in Queensland, the Jaguar Zinc and Copper Operations in Western Australia, and development projects like the Stockman Copper and Zinc Project in Victoria. Kalkine’s Resources Report covers the Investment Highlights, Management Insights, Key Financial Metrics, Risks, Technical Analysis along with the Valuation, Target Price, and Recommendation on the stock.

 1.2 The Key Positives, Negatives, Investment Highlights, and Management Insights

1.3 Top 10 Shareholders:

The top 10 shareholders together form 45.63% of the total shareholding. Washington H Soul Pattinson and Company Ltd and Tudor Court Ltd hold maximum stakes in the company at 31.38% and 8.46%, respectively.

1.4 Key Metrics: Aeris Resources Limited’s revenue and EBITDA trends from FY21 to FY24 demonstrated the impacts of operational reliability, market conditions, asset acquisitions, and cost management. Revenue was initially hampered by production declines and operational challenges but saw subsequent recovery due to strategic asset expansion and improvements in the mine performance, particularly at Tritton and Cracow.  EBITDA fluctuated more sharply, reflecting not just shifts in output and commodity prices but also periods of elevated costs and operational inefficiencies; however, effective cost control and production upgrades eventually fueled a substantial rebound. Overall, the company’s financial growth was driven by better production grades, stabilized operations, disciplined expense management, and successful integration of new assets, illustrating how operational and strategic choices shaped profitability amid a volatile industry environment. Below are some key metrics that have been recorded:

Section 2: Business Updates, Financial and Operational Highlights

2.1 Recent Business Updates:

2.2 Financial Highlights: Below mentioned are some key financial highlights:   

2.3 Historical Financial Trend

Section 3: Key Risks and Outlook:

Section 4: Stock Recommendation Summary

4.1 Price Performance and Technical Summary

The stock price has surged by approximately 33.33% over the past 6 months and has increased by around 11.11% over the last 1 year. The stock has a 52-week low and 52-week high of AUD 0.135 and AUD 0.263, respectively, and is currently trading around its 52-week high-low average.

   (Source: REFINITIV; Analysis by Kalkine Group)

4.2 Fundamental Valuation

Valuation Methodology: Price/Earnings Multiple Based Relative Valuation (Illustrative)

Markets are trading in a highly volatile zone currently due to certain macro-economic issues and geopolitical tensions prevailing. Therefore, it is prudent to follow a cautious approach while investing.

Note 1: Past performance is neither an indicator nor a guarantee of future performance.

Note 2: The reference date for all price data, currency, technical indicators, support, and resistance levels is 13 August 2025. The reference data in this report has been partly sourced from REFINITIV.

Note 3: Investment decisions should be made depending on an individual's appetite for upside potential, risks, holding duration, and any previous holdings. An 'Exit' from the stock can be considered if the Target Price mentioned as per the Valuation and or the technical levels provided have been achieved and is subject to the factors discussed above.

Note 4: Kalkine reports are prepared based on the stock prices captured either from REFINITIV or Trading View. Typically, REFINITIV or Trading View may reflect stock prices with a delay which could be a lag of 25-30 minutes. There can be no assurance that future results or events will be consistent with the information provided in the report. The information is subject to change without any prior notice. 

Technical Indicators Defined: -

Support: A level at which the stock prices tend to find support if they are falling, and a downtrend may take a pause backed by demand or buying interest. Support 1 refers to the nearby support level for the stock and if the price breaches the level, then Support 2 may act as the crucial support level for the stock.

Resistance: A level at which the stock prices tend to find resistance when they are rising, and an uptrend may take a pause due to profit booking or selling interest. Resistance 1 refers to the nearby resistance level for the stock and if the price surpasses the level, then Resistance 2 may act as the crucial resistance level for the stock. 

Stop-loss: It is a level to protect further losses in case of unfavourable movement in the stock prices.