Is Magnetite Mines Ltd halal to invest in?

According to Musaffa's Shariah screening methodology, Magnetite Mines Ltd (MGT.AX) is currently classified as NOT HALAL as of July 2025. The classification is based on an evaluation of the company's business activities and financial ratios to determine whether it meets Islamic investment guidelines.

Is Magnetite Mines Ltd a Shariah-compliant stock?

A stock is Shariah-compliant if the company operates in permissible business activities and meets Islamic financial screening thresholds. Musaffa analyzes Magnetite Mines Ltd using these criteria to determine its compliance status.

Can Muslims buy shares of Magnetite Mines Ltd?

Muslim investors may consider investing in Magnetite Mines Ltd if it meets Shariah compliance standards. Investors typically review the company's business activities, debt levels, and non-permissible income before making a decision.

Why is Magnetite Mines Ltd classified as NOT HALAL?

Musaffa determines the Shariah status of Magnetite Mines Ltd by analyzing whether the company's core business operations are permissible and whether its financial ratios fall within accepted Islamic thresholds.

How often is the Shariah compliance for Magnetite Mines Ltd updated?

The Shariah compliance status of Magnetite Mines Ltd may be updated periodically when new financial statements, earnings reports, or business activity information become available.

Can a halal stock like Magnetite Mines Ltd become non-compliant?

Yes. A stock that is currently Shariah-compliant may become non-compliant if the company's financial ratios exceed Shariah thresholds or its business activities change.

Where can I check the Shariah status of Magnetite Mines Ltd?

You can check the latest Shariah compliance status of Magnetite Mines Ltd on Musaffa's stock page, where screening results and key financial indicators are updated to help Muslim investors make informed decisions.

MGT.AX Shariah Compliance

Screening Methodology: AAOIFI

NOT HALAL

Last Updated: July 29, 2025

Report Source: 2025 2nd Quarter Report

Magnetite Mines Ltd. Stock Analysis MGT.AX

Australia Materials Nano Cap Report: Q2, 2025

Magnetite Mines Ltd. operates as a mineral exploration company, which explores and develops mineral properties. The company is headquartered in Adelaide, South Australia. The company went IPO on 2006-04-06. The firm is focused on the development of magnetite iron ore resources in the highly prospective Braemar iron region of South Australia. Its projects include the Razorback Iron Ore Project and Muster Dam Iron Ore Project. The Razorback Iron Ore Project is a pre-development magnetite iron ore project capable of producing high-grade and Direct-Reduction grade (DR-grade) iron ore products required in low-carbon and zero-carbon steel production. The company consists of the Razorback and Iron Peak deposits. The company is located just 240 kilometers (kms) northeast of Adelaide in arid, low-intensity pastoral country. The Muster Dam Iron Ore Project is hosted by the same Braemar Iron Formation as the Razorback Iron Ore Project. The Project is located approximately 110 km to the northeast of Razorback Iron Ore Project. The Project produces the required specification of DR-grade, very low impurity products necessary for green iron production.

Key Statistics of Magnetite Mines Ltd (MGT.AX)

Key statistics in the stock market are essential financial indicators that measure a company's performance, valuation, profitability, and risk.

Today's Range

AUD0.03AUD0.03

Today's Open

AUD0.03

Volume

11.01K

P/E Ratio (TTM)

52 Week Range

AUD0.03AUD0.29

Market Cap

7.94M

Avg. Volume

1.02M

Dividend Yield

Financial Metrics & Statements of Magnetite Mines Ltd (MGT.AX)

FAQ's for Magnetite Mines Ltd (MGT.AX)

According to Musaffa’s Shariah screening methodology, Magnetite Mines Ltd (MGT.AX) is currently classified as NOT HALAL as of July 2025. The classification is based on an evaluation of the company’s business activities and financial ratios to determine whether it meets Islamic investment guidelines.