Equity, Bottom-up Analyst, Investics Research

Sameer Taneja

A buy-side analyst with over 18 years of experience investing in Asian markets and specializing in the mid-small cap space, emphasizing value investing in companies with good free cash flows/dividends and long-term holding horizons. 
Exempt Financial Adviser (EFA) under CrossASEAN Research Pte Ltd. It is important to note that the information provided by Investics Research is based on publicly available data and own knowledge, which has been gathered and analyzed from a variety of sources. While every effort has been made to ensure the accuracy and completeness of the information provided, it is not guaranteed to be free from errors or omissions. All forecasts and estimates are based on information that has been obtained from public sources that are considered to be reliable. The sources include but are not limited to, company announcements, exchange filings, presentations, etc. Investics does not guarantee the accuracy and completeness of the forecasts, estimates, and/or other information.

Equity, Bottom-up Analyst

Fenix Resources (FEX AU) Q1 FY26 Report: Multibagger In The Making

Iron Ore At 104 USD/Ton: Where To Now With Simandou Online? Still Like Fenix, Others Fairly Valued

Fenix Resources (FEX AU) 3-Year Production Plan Has An Exciting Ramp And Upgrade To FY26

Fenix Resources (FEX AU): Pullback With Iron Ore Prices And Attractive Entry Point

Investics Research

It is important to note that the information provided by Investics Research is based on publicly available data and own knowledge, which has been gathered and analyzed from a variety of sources. While every effort has been made to ensure the accuracy and completeness of the information provided, it is not guaranteed to be free from errors or omissions. All forecasts and estimates are based on information that has been obtained from public sources that are considered to be reliable. The sources include but are not limited to, company announcements, exchange filings, presentations, etc. Investics does not guarantee the accuracy and completeness of the forecasts, estimates, and/or other information.

Equity Bottom-up Research

Equity Bottom-Up

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<li>
<a href="https://www.smartkarma.com/entities/fenix-resources-ltd" target="_blank" data-smartkarma-citation="entities:7405:1" rel="noopener">Fenix Resources (FEX AU)</a> provided more color during its <a href="https://lnkd.in/gX6CiNkF" target="_blank" rel="noopener">three-year production plan call </a>on its journey from 4 million to 6 million tons by FY28, and beyond 10 million tons post-FY29. </li>
<li>The company requires a minimum capex of AUD 35-45 million (excluding fleet expansion capex of AUD 20 million) to ramp up to 6 million tons. </li>
<li>Stock trades at 5.4x/4.7x FY26/27PE, based on 4.5/5 million ton shipments at 100 USD/ton. Risks to estimates lie in iron ore prices moving below 100 USD/ton or cost inflation. </li>
</ul>



Fenix Resources (FEX AU) provided more color during its three-year production plan call on its journey from 4 million to 6 million tons by FY28, and beyond 10 million tons post-FY29. 
The company requires a minimum capex of AUD 35-45 million (excluding fleet expansion capex of AUD 20 million) to ramp up to 6 million tons. 
Stock trades at 5.4x/4.7x FY26/27PE, based on 4.5/5 million ton shipments at 100 USD/ton. Risks to estimates lie in iron ore prices moving below 100 USD/ton or cost inflation. 


Fenix Resources (FEX AU): Thoughts On The 3 Year Plan Conference Call And 34% OCF Yield FY26e