Settlement of the extreme weather insurance claim at Capricorn Copper has finally occurred between 29Metals and the insurers, resulting in a final payment of $54m to the company.

This is in addition to the $61m progress payments made so far. Morgan Stanley notes the additional payment will improve the company's balance sheet. 

Net debt before this was expected to rise to $165m in FY25 from $63m in FY24.

Equal-weight. Target unchanged at 13c.

Sector: Materials.

Target price is $0.13.Current Price is $0.16. Difference: ($0.03) - (brackets indicate current price is over target). If 29M meets the Morgan Stanley target it will return approximately -23% (excluding dividends, fees and charges - negative figures indicate an expected loss).

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