Handelsavisen
prelaunch
Companies Basic Materials MAN.AX
MA
MAN.AX ASX Specialty Mining & Metals

Man.Ax

A$0,02
Open in Charts → Attach watcher ⌖
AUD
Set alert
Last 30 days
1D5D1M3M6MYTD1Y5YMax
Live price chart loads from the market-data widget.
Mcap
P/E
EV / Rev
Div yield
Op margin
-93,9 %
ROE
-2,6 %
Net margin
-93,9 %
Debt / equity
0,00
Beta
52w range
Volume
Day range
Prev close
Open
Next earnings
2026-10-28
Ex-dividend
TR 1Y
About

MAN.AX operates in the specialty mining and metals industry, focusing on the extraction and processing of non-ferrous metals and minerals, primarily generating revenue through the sale of these commodities.

Business. MAN.AX operates in the specialty mining and metals industry, focusing on the extraction and processing of non-ferrous metals and minerals, primarily generating revenue through the sale of these commodities.

Classification92 %
SectorBasic Materials
Business sectorMineral Resources
IndustrySpecialty Mining & Metals
Generated · model-assisted
Sell-side consensus
consensus pending
— buy— hold— sell
Avg 12m price target
Upcoming events
  • EarningsQ3 2026 earnings (expected)2026-10-28 · estimated
See all catalysts →

At a glance

Score
not yet scored
Valuation
valuation pending
Analysts
not yet wired
Ownership
AQR Capital Management, LLC
largest disclosed fund holder
Profitability
-2,6 %
return on equity
Quality
not yet scored

What drives this business

The watch-list the newsroom runs for this company — derived from its sector path, sharpened layer by layer. Not investment advice.

— missing data

News & coverage

0
  • No recent newsroom coverage mentioning MAN.
  • Sector rotation

    Sector1D1Mvs mkt
    Materials · THIS SECTOR+2,3 %+6,6 %+1,7 %
    Communication Services+2,2 %−5,5 %+1,6 %
    Energy+0,6 %+3,3 %+0,0 %
    Health Care+0,6 %−0,8 %+0,0 %
    Information Technology+0,6 %+6,7 %+0,0 %
    Consumer Discretionary+0,4 %+7,6 %−0,2 %
    Financials−0,3 %−2,8 %−0,9 %
    Consumer Staples−0,4 %+2,5 %−1,0 %
    Real Estate−0,7 %+10,9 %−1,3 %
    Industrials−1,9 %−3,1 %−2,5 %
    Utilities−1,9 %+28,2 %−2,5 %

    Developing storylines

    No tracked sagas currently linked to MAN.AX. Browse all sagas →

    Analysis

    AI analysis
    Generated · analysis pipeline · tier hybrid · as of 2026-08-04 ↑ At a glance

    Opportunity

    — missing data

    Upcoming catalysts

    Scheduled public events. Informational only — not investment advice.

    • Company
    • EarningsQ3 2026 earnings (expected)2026-10-28 · estimated
    • Macro
    • Rate decisionBank of England rate decision (press conf.)2026-08-06 · GB
    • Rate decisionReserve Bank of Australia rate decision (press conf.)2026-08-12 · AU
    • Rate decisionNorges Bank rate decision (press conf.)2026-08-20 · NO
    • Rate decisionSveriges Riksbank rate decision (press conf.)2026-09-03 · SE
    • Rate decisionBank of Canada rate decision (press conf.)2026-09-09 · CA
    • Rate decisionEuropean Central Bank rate decision (press conf.)2026-09-10 · EU
    • Macro & political
    • ElectionSE Swedish Election2026-09-14 · SE
    • ElectionUS U.S. Midterms2026-11-03 · US
    • ElectionFR French Legislative2027-06-01 · FR
    • Congressional trades
    • CongressLisa McClain — ManpowerGroup Common Stock2025-09-25 · Republican · MI · Sale · $1,001 - $15,000
    • CongressLisa McClain — ManpowerGroup Common Stock2025-09-11 · Republican · MI · Purchase · $1,001 - $15,000

    Pre-earnings brief

    — missing data

    Signals & dispatch

    peak dispatch · —

    Composite-score breakdown

    Synthesis

    Business

    MAN.AX operates in the specialty mining and metals industry, focusing on the extraction and processing of non-ferrous metals and minerals, primarily generating revenue through the sale of these commodities.

    Classification92 %
    SectorBasic Materials
    Business sectorMineral Resources
    IndustrySpecialty Mining & Metals
    AI synthesis
    GENERATED

    MAN.AX exhibits a highly liquid capital structure, with a current ratio of 130.76, indicating a strong ability to meet short-term obligations. The company has no long-term debt, and its total liabilities are minimal at 102,230 AUD, while its total equity stands at 23,873,200 AUD. This suggests a conservative financial position with no immediate liquidity risk, despite the low liquidity risk score in the risk assessment.

    Profitability is a significant concern for MAN.AX, as it reported a net loss of 623,710 AUD and an operating loss of the same amount in the latest period. The return on equity (ROE) is -2.61%, and the return on assets (ROA) is -2.6%, both well below the industry median for profitability metrics. These figures indicate that the company is not generating returns for its shareholders or effectively utilizing its assets to generate profit.

    The company's revenue is concentrated in a single business segment, as disclosed in its financial statements, with no geographic diversification provided in the available data. This lack of diversification increases exposure to regional economic and regulatory risks, particularly in the mining and metals sector, which is sensitive to commodity price fluctuations and geopolitical events.

    Looking ahead, the company's revenue is expected to remain under pressure, with no clear signs of improvement in the current fiscal year. The operating cash flow of 65,450 AUD is modest compared to the capital expenditures of -1,733,830 AUD, suggesting that the company is investing heavily in its operations. While this may indicate long-term growth potential, the negative operating income and net income suggest that these investments have not yet translated into profitability.

    The risk assessment indicates low dilution and liquidity risks, with no immediate filing-based flags detected. However, the company's negative net income and operating income raise concerns about its ability to sustain operations without external financing. The absence of long-term debt and the high current ratio provide some cushion, but the company's financial health remains fragile.

    Recent filings and transcripts do not indicate any major events or strategic shifts that would significantly impact the company's operations or financial position. The company appears to be maintaining a steady course, but without clear signs of improvement in profitability or revenue growth, the outlook remains cautious.

    Key takeaways
    • MAN.AX has a highly liquid balance sheet with a current ratio of 130.76 and no long-term debt.
    • The company reported a net loss of 623,710 AUD, with ROE and ROA at -2.61% and -2.6%, respectively.
    • Revenue is concentrated in a single business segment, with no geographic diversification disclosed.
    • Capital expenditures of -1,733,830 AUD suggest ongoing investment, but operating cash flow is modest at 65,450 AUD.
    • The company has low liquidity and dilution risks, but its financial health remains fragile due to negative profitability.

    Bull / Bear case

    analysis pipeline
    — missing data

    In focus — financials by report

    Valuation

    Market price
    A$0,02
    Market cap
    Enterprise value
    P/E
    Non-GAAP P/E
    EV / Revenue
    EV / Op income
    EV / OCF
    P / B
    P / Tangible book
    Tangible book
    A$23.9M
    Net cash
    Current ratio
    130.8
    Debt / equity
    0.0
    ROA
    -2.6%
    ROE
    -2.6%
    Cash conversion
    -10.0%
    CapEx / revenue
    -2.6%
    SBC / revenue
    Dilution ratio
    0.0%

    Revenue by segment

    Market share

    — missing data

    Business relationships

    — missing data

    Supply chain

    — missing data

    Peer comparison

    — missing data

    Market position

    Stress test

    — missing data

    Predictor forecast

    Options

    — missing data

    Short squeeze

    — missing data

    Earnings-call key lines

    — missing data

    Estimate revisions

    consensus EPS · 26-week trend
    — missing data

    Sell-side observations

    — missing data

    Themes

    — missing data

    ESG

    — missing data

    Risk factors

    Dilution riskLow
    Liquidity riskLow
    Filing-based flags
    • No immediate filing-based liquidity or dilution flags were detected.

    Benchmarks vs cohort

    Op Margin-93,9 %Below median
    Net Margin-93,9 %Below median
    ROE-2,6 %Above median
    Capex / Rev-260,9 %Bottom quartile
    D/E0,00Above median
    Cash Conv-0,10Bottom quartile

    Corporate actions / M&A

    — missing data

    FX exposure

    — missing data

    Comparable transactions

    — missing data

    Derivatives & instruments

    Derivative transactions

    Net acquired 216 858 sh10 exercises · 62 grants13 insiders
    • McGinnis John TEVP, CFO · Restricted Stock Units → Common StockDisposed 15 250exercise · 2026-02-17
    • Nettles MichelleChief People & Legal Officer · Restricted Stock Units → Common StockDisposed 6 354exercise · 2026-02-17
    • Rozek EricVP, Global Controller · Restricted Stock Units → Common StockDisposed 565exercise · 2026-02-17
    • PRISING JONASDirector, CEO · Restricted Stock Units → Common StockDisposed 52 865exercise · 2026-02-17
    • Frankiewicz RebeccaPresident & Chief Strategy Off · Restricted Stock Units → Common StockDisposed 4 535exercise · 2026-02-17
    • PRISING JONASDirector, CEO · Restricted Stock Units → Common StockAcquired 145 150grant · 2026-02-13
    • Frankiewicz RebeccaPresident & Chief Strategy Off · Restricted Stock Units → Common StockAcquired 38 381grant · 2026-02-13
    • McGinnis John TEVP, CFO · Restricted Stock Units → Common StockAcquired 41 870grant · 2026-02-13
    • Nettles MichelleChief People & Legal Officer · Restricted Stock Units → Common StockAcquired 22 331grant · 2026-02-13
    • Rozek EricVP, Global Controller · Restricted Stock Units → Common StockAcquired 4 360grant · 2026-02-13
    • HOWARD JULIEDirector · Deferred Stock Units → Common StockAcquired 38grant · 2026-01-01
    • HOWARD JULIEDirector · Deferred Stock Units → Common StockAcquired 57grant · 2026-01-01
    • HOWARD JULIEDirector · Deferred Stock Units → Common StockAcquired 52grant · 2026-01-01
    • HOWARD JULIEDirector · Deferred Stock Units → Common StockAcquired 70grant · 2026-01-01
    • HOWARD JULIEDirector · Deferred Stock Units → Common StockAcquired 108grant · 2026-01-01
    • HOWARD JULIEDirector · Deferred Stock Units → Common StockAcquired 82grant · 2026-01-01
    • HOWARD JULIEDirector · Deferred Stock Units → Common StockAcquired 79grant · 2026-01-01
    • HOWARD JULIEDirector · Deferred Stock Units → Common StockAcquired 54grant · 2026-01-01
    • HOWARD JULIEDirector · Deferred Stock Units → Common StockAcquired 64grant · 2026-01-01
    • HOWARD JULIEDirector · Deferred Stock Units → Common StockAcquired 77grant · 2026-01-01
    • HOWARD JULIEDirector · Deferred Stock Units → Common StockAcquired 86grant · 2026-01-01
    • HOWARD JULIEDirector · Deferred Stock Units → Common StockAcquired 4 339grant · 2026-01-01
    • HOWARD JULIEDirector · Deferred Stock Units → Common StockAcquired 6 054grant · 2026-01-01
    • PAYNE ULICE JRDirector · Deferred Stock Units → Common StockAcquired 55grant · 2026-01-01
    • PAYNE ULICE JRDirector · Deferred Stock Units → Common StockAcquired 79grant · 2026-01-01

    Actions

    Ask Handelsavisen

    — missing data
    Data sources
    • Market data
    • Market data cache
    • Issuer disclosures
    • Public news
    • Earnings transcripts
    • Consensus estimates
    • ESG data
    How metrics are computed
    • Dilution Ratio
      (shares_outstanding_diluted - shares_outstanding_basic) / shares_outstanding_basic
    • Capex To Revenue
      capital_expenditure / revenue
    • Return On Equity
      net_income / total_equity
    • Debt To Equity
      (short_term_debt + long_term_debt) / total_equity
    • Cash Conversion Ratio
      operating_cash_flow / net_income
    • Return On Assets
      net_income / total_assets
    Source documents
    • MAN.AX Market data — financials · 2026-05-28

    Ownership & reference

    Top holders

    • AQR Capital Management, LLCInvestment Managers · as of 2026-03-310,05 %$110M
    • Dimensional Fund Advisors, L.P.Investment Managers · as of 2026-03-310,01 %$44M
    • BlackRock Institutional Trust Company, N.A.Investment Managers · as of 2024-06-300,01 %$362M
    • Franklin Advisers, Inc.Investment Managers · as of 2026-03-310,01 %$28M
    • Invesco QQQ TrustFunds · as of 2026-03-310,00 %$31M
    • Charles Schwab Investment Management, Inc.Investment Managers · as of 2026-03-310,00 %$24M
    • Principal Global Investors (Equity)Investment Managers · as of 2026-03-310,00 %$7M
    • UBS Financial Services, Inc.Investment Managers · as of 2026-03-310,00 %$16M
    • EATON VANCE MANAGEMENTInstitutional Investor · as of 2022-09-300,00 %$0M
    • Vanguard Capital Management, LLCInvestment Managers · as of 2025-12-310,00 %$179M
    • Victory Capital Management Inc.Investment Managers · as of 2026-03-310,00 %$4M
    • Morgan Stanley Smith Barney LLCInvestment Managers · as of 2026-03-310,00 %$41M
    • First Trust Advisors L.P.Investment Managers · as of 2026-03-310,00 %$3M
    • American Century Investment Management, Inc.Investment Managers · as of 2026-03-310,00 %$5M
    • Nuveen LLCInvestment Managers · as of 2024-12-310,00 %$7M
    • State Street Investment Management (US)Investment Managers · as of 2026-03-310,00 %$48M
    • Geode Capital Management, L.L.C.Investment Managers · as of 2026-03-310,00 %$23M
    • Northern Trust Investments, Inc.Investment Managers · as of 2026-03-310,00 %$11M
    • Bank of New York Mellon CorpInstitutional Investor · as of 2026-03-310,00 %$7M
    • Goldman Sachs Asset Management, L.P.Investment Managers · as of 2026-03-310,00 %$10M
    • AllianceBernstein L.P.Investment Managers · as of 2026-03-310,00 %$3M
    • AMERIPRISE FINANCIAL INCInstitutional Investor · as of 2026-03-310,00 %$4M
    • JANUS HENDERSON GROUP PLCInstitutional Investor · as of 2026-03-310,00 %$1M
    • Wells Fargo AdvisorsBrokerage Firms · as of 2026-03-310,00 %$1M
    • T. Rowe Price Associates, Inc.Investment Managers · as of 2026-03-310,00 %$0M
    • LPL Financial LLCInvestment Managers · as of 2026-03-310,00 %$0M
    • PNC Investments LLCInvestment Managers · as of 2026-03-310,00 %$0M
    • FMR LLCInstitutional Investor · as of 2026-03-310,00 %$1M
    • JONES FINANCIAL COMPANIES LLLPInstitutional Investor · as of 2026-03-310,00 %$0M

    Insider activity

    Mixed / flat0 buys · 0 sellsnet $010 insiders · last 365d
    • PRISING JONASDirector, CEO · Common StockOther 16 729 @ $29,48$493K · 2026-02-19
    • Frankiewicz RebeccaPresident & Chief Strategy Off · Common StockOther 758 @ $29,48$22K · 2026-02-19
    • McGinnis John TEVP, CFO · Common StockOther 4 943 @ $29,48$146K · 2026-02-19
    • PRISING JONASDirector, CEO · Common StockOther 18 766 · 2026-02-19
    • PRISING JONASDirector, CEO · Common StockOther 52 865 · 2026-02-17
    • PRISING JONASDirector, CEO · Common StockOther 23 319 @ $28,66$668K · 2026-02-17
    • PRISING JONASDirector, CEO · Common StockOther 29 546 · 2026-02-17
    • Rozek EricVP, Global Controller · Common StockOther 565 · 2026-02-17
    • Rozek EricVP, Global Controller · Common StockOther 198 @ $28,66$6K · 2026-02-17
    • McGinnis John TEVP, CFO · Common StockOther 15 250 · 2026-02-17
    • McGinnis John TEVP, CFO · Common StockOther 6 988 @ $28,66$200K · 2026-02-17
    • Frankiewicz RebeccaPresident & Chief Strategy Off · Common StockOther 4 535 · 2026-02-17
    • Frankiewicz RebeccaPresident & Chief Strategy Off · Common StockOther 1 441 @ $28,66$41K · 2026-02-17
    • Nettles MichelleChief People & Legal Officer · Common StockOther 6 354 · 2026-02-17
    • Nettles MichelleChief People & Legal Officer · Common StockOther 2 423 @ $28,66$69K · 2026-02-17
    • Frankiewicz RebeccaPresident & Chief Strategy Off · Common StockOther 2 032 · 2026-02-13
    • PRISING JONASDirector, CEO · Common StockOther 35 495 · 2026-02-13
    • McGinnis John TEVP, CFO · Common StockOther 10 248 · 2026-02-13
    • Nettles MichelleChief People & Legal Officer · Common StockOther 4 270 @ $31,01$132K · 2026-02-12
    • Nettles MichelleChief People & Legal Officer · Common StockOther 1 935 @ $31,01$60K · 2026-02-12
    • VAN HANDEL MICHAEL JDirector · Common StockOther 2 357 · 2026-01-01
    • Penicaud Muriel FrancoiseDirector · Common StockOther 2 357 · 2026-01-01
    • Penicaud Muriel FrancoiseDirector · Common StockOther 177 @ $29,73$5K · 2026-01-01
    • Ferraro John FrancisDirector · Common StockOther 6 054 @ $29,73$180K · 2026-01-01
    • Ferraro John FrancisDirector · Common StockOther 1 120 · 2026-01-01

    Short positioning

    6.3Mshares short-7.3% vs prior
    5.34days to cover
    68.1%short of daily vol
    1fails-to-deliver
    as of 2026-07-15 · short-interest report (free)

    Geographic breakdown

    — missing data
    Listings · one canonical issuer all listings resolve to the canonical
    MAN.AXCanonical
    ASX · AUD

    Intel & risk

    peak dispatch · —
    OSINT findings
    Dilution riskLow
    Liquidity riskLow
    No immediate filing-based liquidity or dilution flags were detected.

    Evidence & claims

    From filings & derived data
    • Total assets (YoY) (2025-12-31 vs 2024-12-31): 11.7%Derived (calculated)
    • Shareholders' equity (YoY) (2025-12-31 vs 2024-12-31): -3.1%Derived (calculated)
    • Revenue (YoY) (2025-12-31 vs 2024-12-31): 0.6%Derived (calculated)
    • Operating income (YoY) (2025-12-31 vs 2024-12-31): -50.9%Derived (calculated)
    • Operating cash flow (YoY) (2025-12-31 vs 2024-12-31): -133.7%Derived (calculated)
    • Long-term debt (YoY) (2025-12-31 vs 2024-12-31): 76.3%Derived (calculated)
    • Gross profit (YoY) (2025-12-31 vs 2024-12-31): -2.9%Derived (calculated)
    • EPS (diluted) (YoY) (2025-12-31 vs 2024-12-31): -109.6%Derived (calculated)
    • Cash & equivalents (YoY) (2025-12-31 vs 2024-12-31): 71.0%Derived (calculated)
    • Cost of revenue (YoY) (2025-12-31 vs 2024-12-31): 1.3%Derived (calculated)
    • Gross margin (FY 2025-12-31): 16.7%Derived (calculated)
    • Current ratio (FY 2025-12-31): 1.11xDerived (calculated)
    • EPS (basic) (YoY) (2025-12-31 vs 2024-12-31): -109.5%Derived (calculated)
    • Total assets (annual): USD 9.16BSEC XBRL filing
    • Current assets (annual): USD 5.79BSEC XBRL filing
    • Current liabilities (annual): USD 5.23BSEC XBRL filing
    • Gross profit (annual): USD 3BSEC XBRL filing
    • EPS (basic) (annual): USD-PER-SHARES -0SEC XBRL filing
    • EPS (diluted) (annual): USD-PER-SHARES -0SEC XBRL filing
    • Operating income (annual): USD 150.1MSEC XBRL filing
    • Cash & equivalents (annual): USD 871MSEC XBRL filing
    • Long-term debt (annual): USD 1.64BSEC XBRL filing
    • Cost of revenue (annual): USD 14.96BSEC XBRL filing
    • Shareholders' equity (annual): USD 2.06BSEC XBRL filing
    Showing 24 of 60 surfaced claims.
    Atomic claims from regulatory filings and derived calculations. Provenance shown as source kind only.

    The Thread

    Everything we know, in order
    2026-10-28EVENTUpcomingQ3 2026 earnings (expected) estimated date
    2026-07-16 00:00 UTCTRANSCRIPTEarnings call — Q3 2026
    2026-07-16EVENTQ2 2026 earnings (expected) estimated date
    2026-05-22 08:00 UTCFILINGRegulatory filing →
    2026-05-08FILING10-Q filing →
    2026-05-08FILING8-K filing →
    2026-04-16FILING8-K filing →
    2026-03-23FILINGDEF 14A filing →
    2026-02-23FILING10-K filing →
    2026-02-19 00:00 UTCINSIDER30 insider transactions — 2026-02 · net sell $1.6M 10 derivative
    2026-02-19FILING8-K filing →
    2026-02-19INSIDERPRISING JONAS transacted 16.7k sh — Director, CEO ~$493k
    2026-02-19INSIDERFrankiewicz Rebecca transacted 758 sh — President & Chief Strategy Off ~$22k
    2026-02-19INSIDERMcGinnis John T transacted 4.9k sh — EVP, CFO ~$146k
    2026-02-19INSIDERPRISING JONAS transacted 18.8k sh — Director, CEO
    2026-02-17INSIDERPRISING JONAS transacted 52.9k sh — Director, CEO
    2026-02-17INSIDERPRISING JONAS transacted 23.3k sh — Director, CEO ~$668k
    2026-02-17INSIDERPRISING JONAS transacted 29.5k sh — Director, CEO
    2026-02-17INSIDERRozek Eric transacted 565 sh — VP, Global Controller
    2026-02-17INSIDERRozek Eric transacted 198 sh — VP, Global Controller ~$6k
    2026-02-17INSIDERMcGinnis John T transacted 15.2k sh — EVP, CFO
    2026-02-17INSIDERMcGinnis John T transacted 7.0k sh — EVP, CFO ~$200k
    2026-02-17INSIDERFrankiewicz Rebecca transacted 4.5k sh — President & Chief Strategy Off
    2026-02-17INSIDERFrankiewicz Rebecca transacted 1.4k sh — President & Chief Strategy Off ~$41k
    2026-02-17INSIDERNettles Michelle transacted 6.4k sh — Chief People & Legal Officer
    2026-02-17INSIDERNettles Michelle transacted 2.4k sh — Chief People & Legal Officer ~$69k
    2026-02-17INSIDERNettles Michelle disposed of 6.4k sh Restricted Stock Units — Chief People & Legal Officer
    2026-02-17INSIDERPRISING JONAS disposed of 52.9k sh Restricted Stock Units — Director, CEO
    2026-02-17INSIDERRozek Eric disposed of 565 sh Restricted Stock Units — VP, Global Controller
    2026-02-17INSIDERMcGinnis John T disposed of 15.2k sh Restricted Stock Units — EVP, CFO
    2026-02-17INSIDERFrankiewicz Rebecca disposed of 4.5k sh Restricted Stock Units — President & Chief Strategy Off
    2026-02-13INSIDERFrankiewicz Rebecca transacted 2.0k sh — President & Chief Strategy Off
    2026-02-13INSIDERPRISING JONAS transacted 35.5k sh — Director, CEO
    2026-02-13INSIDERMcGinnis John T transacted 10.2k sh — EVP, CFO
    2026-02-13INSIDERPRISING JONAS acquired 145.2k sh Restricted Stock Units — Director, CEO
    2026-02-13INSIDERNettles Michelle acquired 22.3k sh Restricted Stock Units — Chief People & Legal Officer
    2026-02-13INSIDERRozek Eric acquired 4.4k sh Restricted Stock Units — VP, Global Controller
    2026-02-13INSIDERMcGinnis John T acquired 41.9k sh Restricted Stock Units — EVP, CFO
    2026-02-13INSIDERFrankiewicz Rebecca acquired 38.4k sh Restricted Stock Units — President & Chief Strategy Off
    2026-02-12INSIDERNettles Michelle transacted 4.3k sh — Chief People & Legal Officer ~$132k
    Showing the 40 most recent of 61 entries.
    The entity's full life in the product — typed, chronological, joined across Newspaper, Platform and Data. Our memory, made visible.
    Sources filings · IR · transcripts · market data · tier hybrid · as of 2026-08-04 Market data · Issuer disclosures · Public news · Earnings transcripts · Consensus estimates · ESG data Premium coverage