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Gold and copper producer operating the Gedabek mining complex in Azerbaijan under a long-term production-sharing agreement.
Gold and copper producer operating the Gedabek mining complex in Azerbaijan under a long-term production-sharing agreement.
Under a production-sharing agreement with Azerbaijan's government it mines its contract area and shares the output with the state. It sells gold doré and copper concentrate to refiners and traders, and its mix has been tilting from gold toward copper.
In one line: A small Caucasus-focused junior gold/copper miner.
Moat: narrow (regulatory licence, installed base). Exclusive 1997 production-sharing agreement with the Azerbaijani government covering its mining district.
Headquarters: London, UK (mine in Gedabek, Azerbaijan) · Employees: 1,356
Size Anglo Asian Mining (AAZ.L) is a United Kingdom Materials company (Precious Metals) with a market value of $590M, the 274th largest of 363 United Kingdom companies the cockpit tracks. Shares closed at £382.50 on 6 Nov 2026.
Performance Over six months the shares gained 29.7%, against -12.0% for the median peer and +3.6% for the United Kingdom market (cap-weighted) — 3rd highest of 21 in its peer set.
Growth Revenue grew 220.2% over the last twelve months (peer median +76.9%); the operating margin is 48.2% (peer median -116.4%).
Valuation It trades at 6.5× forward earnings against a peer median of 8.9× (4th cheapest of 8).
Price implies For today's price to make sense, revenue must grow about -8% a year for seven years (Req g). Recent delivered growth is +3%, so the hurdle is -12 pp: the price already allows for a slowdown.
Capital Return on invested capital runs 63.4 points above its cost of capital (10.8% WACC).
Next results Next results expected around 20 May 2027 (exchange calendar; dates can move).
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|
| Revenue | £166M | £93.2M | £31.0M | £36.9M | £68.8M |
| Revenue growth | — | +201% | -16% | -46% | — |
| Gross profit | £88.5M | £40.3M | -£8.56M | -£4.36M | £12.5M |
| EBITDA | £99.3M | £48.2M | -£5.19M | -£934,790 | £21.9M |
| Net income | £44.0M | £13.4M | -£13.7M | -£19.5M | £2.97M |
| Free cash flow | £60.5M | £15.1M | -£1.05M | -£13.9M | £2.71M |
| Capital expenditure | £24.3M | £20.7M | £8.66M | £20.3M | £14.1M |
| Total debt | n/a | £49.7M | £19.0M | £18.2M | £2.25M |
The default views of Competitor Analysis ▸ Charts, drawn from the same data. Open them in the cockpit to change the axes, pin companies and read every value.
| Company | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g |
|---|---|---|---|---|---|---|
| Anglo Asian Mining AAZ.L | $590M | +30% | +220% | 48% | 6.5× | -8.5% |
| Hochschild Mining HOC.L | $3.37B | -27% | +37% | 44% | 9.8× | -10.7% |
| Centerra Gold CG.TO | $4.25B | +27% | +44% | 27% | 12.4× | 6.5% |
| Eldorado Gold ELD.TO | $9.37B | +11% | +25% | 45% | 7.7× | n/a |
Peer set: Industry: the same industry and sector in any market, nearest in size. This is the same default set the interactive Competitor Analysis opens with.
| Measure | AAZ.L | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | -6.7% | -8.8% | 7th highest of 21 |
| 6-month return | +29.7% | -12.0% | 3rd highest of 21 |
| Distance from 52-week high | -12.1% | -33.7% | highest of 21 |
| Revenue growth (TTM) | +220.2% | +76.9% | 2nd highest of 7 |
| Operating margin | 48.2% | -116.4% | highest of 10 |
| Forward P/E | 6.5× | 8.9× | 4th cheapest of 8 |
| Growth the price implies (Req g, 7 yrs) | -8.5% | n/a | — |
| Growth delivered (Del g) | +3.2% | n/a | — |
| Hurdle (Req g minus delivered) | -11.7 pp | n/a | — |
| ROIC minus cost of capital | +63.4 pp | -19.6 pp | highest of 19 |
| EV / EBITDA | 4.2× | 4.4× | 3rd cheapest of 5 |
| Net debt / EBITDA | -0.2× | -0.1× | 2nd least indebted of 5 |
| Company | Market | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g | Delivered g |
|---|---|---|---|---|---|---|---|---|
| Anglo Asian Mining AAZ.L | United Kingdom | $590M | +30% | +220% | 48% | 6.5× | -8.5% | +3.2% |
| Troilus Mining TLG.TO | Canada | $611M | -8% | n/a | n/a | n/a | n/a | n/a |
| Metals Exploration MTL.L | United Kingdom | $617M | +17% | -17% | 32% | 13.3× | n/a | n/a |
| Gold Reserve GRZ.V | Canada | $560M | -19% | n/a | n/a | n/a | n/a | n/a |
| Andean Precious Metals APM.TO | Canada | $555M | -20% | +63% | 32% | 5.0× | -7.2% | +52.9% |
| Banyan Gold BYN.V | Canada | $554M | +18% | n/a | n/a | n/a | n/a | n/a |
| St. Barbara SBM.AX | Australia | $629M | +5% | -76% | -935% | 14.7× | n/a | n/a |
| Forrestania Resources FRS.AX | Australia | $547M | -33% | n/a | -4,833% | 8.9× | n/a | n/a |
| Goldsky Resources GSKR.V | Canada | $543M | -28% | n/a | n/a | n/a | n/a | n/a |
| Brightstar Resources BTR.AX | Australia | $542M | +68% | +91% | -116% | n/a | n/a | n/a |
| IperionX IPX | United States | $540M | -66% | n/a | n/a | n/a | n/a | n/a |
| Turaco Gold TCG.AX | Australia | $540M | +29% | n/a | n/a | n/a | n/a | n/a |
| WIA Gold WIA.AX | Australia | $533M | -22% | n/a | n/a | n/a | n/a | n/a |
| Rox Resources RXL.AX | Australia | $532M | +13% | n/a | n/a | n/a | n/a | n/a |
| Galiano Gold GAU.TO | Canada | $653M | +2% | +91% | 44% | 3.7× | -13.8% | +51.1% |
| Amaroq AMRQ.L | United Kingdom | $657M | 0% | +2,134% | 12% | n/a | n/a | n/a |
| New Found Gold NFGC.TO | Canada | $662M | -16% | n/a | -233% | n/a | n/a | n/a |
| Contango Silver & Gold CTGO | United States | $520M | -43% | n/a | n/a | 5.6× | n/a | n/a |
| First Mining Gold FF.TO | Canada | $670M | +33% | n/a | n/a | n/a | n/a | n/a |
| Thesis Gold & Silver TAU.V | Canada | $516M | -31% | n/a | n/a | n/a | n/a | n/a |
| Tungsten West TUN.L | United Kingdom | $694M | -18% | n/a | -1,558% | 106.7× | n/a | n/a |