Australian Broker Call *Extra* Edition – Jun 29, 2026

This story features AIC MINES LIMITED, and other companies.
For more info SHARE ANALYSIS: A1M
The company is included in ALL-ORDS

An additional news report on the recommendation, valuation, forecast and opinion changes and updates for ASX-listed equities.

In addition to The Australian Broker Call Report, which is published and updated daily (Mon-Fri), FNArena has now added The Australian Broker Call *Extra* Edition, featuring additional sources of research and insights on ASX-listed stocks, also enlarging the number of stocks that make up the FNArena universe.

One key difference is the *Extra* Edition will not be updated daily, but merely “regularly” depending on availability of suitable quality content. As such, the *Extra* Edition tries to build a bridge between daily updates via the Australian Broker Call Report and ad hoc news stories, that are not always timely for investors hungry for the next information update.

Investors using the *Extra* Edition as a source of input for their own share market research should thus take into account that information after publication may not be up to date, or yet awaiting another update by FNArena’s team of journalists.

Similar to The Australian Broker Call Report, this *Extra* Edition includes concise but limited reviews of research recently published by Stockbrokers and other experts, which should be considered as information concerning likely market behaviour rather than advice on the securities mentioned. Do not act on the contents of this Report without first reading the important information included at the end of this Report.

The Australian Broker Call *Extra* Edition is a summary that has been prepared independently of the sources identified. Readers will check the full text of the recommendations and consult a Licenced Advisor before making any investment decision.

The copyright of this Report is owned by the publisher. Readers will not copy, forward or disseminate this Report to any other person. For more vital information about the sources included, see the bottom of this Report.

COMPANIES DISCUSSED IN THIS ISSUE

Click on a symbol for fast access.
The number next to the symbol represents the number of brokers covering it for this report -(if more than 1)

A1M   AFG   AIA   ALL   ART   AVE   BTR   CYM   EHL   EIQ   GMD   JYC   MMI   MYE   POL   QAL   SGLLV   SPK   TEA   YRL  

A1M    AIC MINES LIMITED

Gold & Silver – Overnight Price: $0.70

Moelis rates ((A1M)) as Buy (1) –

Moelis maintains a Buy rating for AIC Mines with its target price increased to $0.80 following a recent site visit to the Eloise and Jericho operations.

The analyst notes strong execution across key growth projects, including the Jericho access drive and processing plant upgrades, providing confidence in the expansion toward a 1.1mtpa throughput capacity.

Revised life-of-mine forward models incorporate a staged operational ramp-up profile alongside partial mark-to-market copper price adjustments.

Elevated spot copper prices bolster legacy cashflow generation, significantly diminishing near-term funding risks according to the broker.

Further exploration upside across the tenement package presents a clear pathway to unlocking a sustainable 1.5mtpa production rate alongside a long-life underground system.

This report was published on June 26, 2026.

Target price is $0.80 Current Price is $0.70 Difference: $0.095
If A1M meets the Moelis target it will return approximately 13% (excluding dividends, fees and charges).
The company’s fiscal year ends in June.

Forecast for FY26:

Moelis forecasts a full year FY26 dividend of 0.00 cents and EPS of 6.50 cents.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 10.85.

Forecast for FY27:

Moelis forecasts a full year FY27 dividend of 0.00 cents and EPS of 8.40 cents.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 8.39.

Market Sentiment: 1.0
All consensus data are updated until yesterday. FNArena’s consensus calculations require a minimum of three sources

AFG    AUSTRALIAN FINANCE GROUP LIMITED

Banks – Overnight Price: $1.64

Jarden rates ((AFG)) as Initiation of coverage with Overweight (2) –

Jarden initiates coverage on Australian Finance Group with an Overweight rating and a $2.30 target price following a steep recent valuation de-rating.

The analyst considers the -40% share price drop over the past year an attractive cyclical entry point rather than a signal of structural decline.

The core distribution segment generates steady annuity-style earnings via trail commissions and recurring subscription revenues, supported by a record 81% broker market share of domestic mortgage settlements.

The internal manufacturing division continues building balance sheet scale towards a $9bn loan book aspiration, while managing near-term net interest margin pressures from elevated wholesale funding costs.

Valuation modelling utilises a blended discounted cash flow and price-to-book methodology incorporating minor macro risk overlays surrounding domestic interest rate trajectories.

This report was published on June 24, 2026.

Target price is $2.30 Current Price is $1.64 Difference: $0.66
If AFG meets the Jarden target it will return approximately 40% (excluding dividends, fees and charges).
The company’s fiscal year ends in June.

Forecast for FY26:

Jarden forecasts a full year FY26 dividend of 11.00 cents and EPS of 18.00 cents.
At the last closing share price the estimated dividend yield is 6.71%.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 9.11.

Forecast for FY27:

Jarden forecasts a full year FY27 dividend of 12.00 cents and EPS of 21.00 cents.
At the last closing share price the estimated dividend yield is 7.32%.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 7.81.

Market Sentiment: 0.5
All consensus data are updated until yesterday. FNArena’s consensus calculations require a minimum of three sources

AIA    AUCKLAND INTERNATIONAL AIRPORT LIMITED

Infrastructure & Utilities – Overnight Price: $6.86

Jarden rates ((AIA)) as Neutral (3) –

Jarden maintains a Neutral rating for Auckland International Airport with a NZ$7.94 target price following the publication of submissions regarding draft weighted average cost of capital amendments.

The New Zealand Commerce Commission reopened the entire estimation process after identifying calculation errors in the final 2023 input methodologies decision, resulting in a lower draft asset beta of 0.62.

The analyst notes that ongoing industry pushback centres around regulatory uncertainty and the subsequent difficulty in attracting capital to fund multi-decade infrastructure investments.

Current internal models continue to anticipate a final asset beta outcome higher than the draft baseline, alongside management’s ability to target higher aeronautical pricing returns.

Jarden concludes that a significant change in regulatory methodology creates reasonable scope for a second draft consultation phase before a final determination.

This report was published on June 25, 2026.

Current Price is $6.86. Target price not assessed.
Current consensus price target is N/A

Forecast for FY26:

Current consensus EPS estimate is 15.0, implying annual growth of N/A.
Current consensus DPS estimate is 10.8, implying a prospective dividend yield of 1.6%.
Current consensus EPS estimate suggests the PER is 45.7.

Forecast for FY27:

Current consensus EPS estimate is 15.7, implying annual growth of 4.7%.
Current consensus DPS estimate is 11.4, implying a prospective dividend yield of 1.7%.
Current consensus EPS estimate suggests the PER is 43.7.

This company reports in NZD. All estimates have been converted into AUD by FNArena at present FX values.
Market Sentiment: 0.3
All consensus data are updated until yesterday. FNArena’s consensus calculations require a minimum of three sources

ALL    ARISTOCRAT LEISURE LIMITED

Gaming – Overnight Price: $58.69

Jarden rates ((ALL)) as Buy (1) –

Jarden maintains a Buy rating for Aristocrat Leisure with a $65.00 target price following a detailed review of Interactive division revenue ambitions.

The broker notes current estimates sit –16% below the US$1bn target set for FY29, driven primarily by slower game release cadences and subdued market share progress within the Content pillar.

The analyst highlights iLottery operations have broadly delivered on expectations via key contracts in Massachusetts and Michigan, while land-based gaming operations continue to display robust momentum alongside market-leading game performance.

Achieving the medium-term Interactive revenue aspiration will likely require Content market share to triple towards 10% in the absence of new state legalisations.

Modest upward earnings revisions incorporate minor operational adjustments and foreign exchange movements.

This report was published on June 24, 2026.

Target price is $65.00 Current Price is $58.69 Difference: $6.31
If ALL meets the Jarden target it will return approximately 11% (excluding dividends, fees and charges).
Current consensus price target is $63.33, suggesting upside of 7.9%(ex-dividends)
The company’s fiscal year ends in September.

Forecast for FY26:

Jarden forecasts a full year FY26 dividend of 102.50 cents and EPS of 263.60 cents.
At the last closing share price the estimated dividend yield is 1.75%.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 22.26.

How do these forecasts compare to market consensus projections?

Current consensus EPS estimate is 254.8, implying annual growth of 11.1%.
Current consensus DPS estimate is 98.1, implying a prospective dividend yield of 1.7%.
Current consensus EPS estimate suggests the PER is 23.0.

Forecast for FY27:

Jarden forecasts a full year FY27 dividend of 108.20 cents and EPS of 288.00 cents.
At the last closing share price the estimated dividend yield is 1.84%.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 20.38.

How do these forecasts compare to market consensus projections?

Current consensus EPS estimate is 287.2, implying annual growth of 12.7%.
Current consensus DPS estimate is 109.7, implying a prospective dividend yield of 1.9%.
Current consensus EPS estimate suggests the PER is 20.4.

Market Sentiment: 1.0
All consensus data are updated until yesterday. FNArena’s consensus calculations require a minimum of three sources

ART    AIRTASKER LIMITED

Online media & mobile platforms – Overnight Price: $0.21

Research as a Service (RaaS) rates ((ART)) as No Rating (-1) –

Research as a Service (RaaS) revisits the investment case for Airtasker to incorporate the latest peer updates, trading results and sector commentary surrounding AI disruption.

The broker assesses the company will be the only marketplace to record revenue growth in FY26 and there is an argument for a premium rating relative to peers.

An improvement in overall peer group multiples after a “vicious sell-off over the past six months” should be the main driver for share price performance, the broker adds.

Valuation is $0.48. Research as a Service (RaaS) research doesn’t carry any targets, ratings or recommendations. Investors can draw conclusions from valuations and commentary.

This report was published on June 25, 2026.

Target price is $0.48 Current Price is $0.21 Difference: $0.27
If ART meets the Research as a Service (RaaS) target it will return approximately 129% (excluding dividends, fees and charges).
The company’s fiscal year ends in June.

Forecast for FY26:

Research as a Service (RaaS) forecasts a full year FY26 dividend of 0.00 cents and EPS of minus 7.60 cents.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is minus 2.76.

Forecast for FY27:

Research as a Service (RaaS) forecasts a full year FY27 dividend of 0.00 cents and EPS of 1.20 cents.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 17.50.

Market Sentiment: 0.0
All consensus data are updated until yesterday. FNArena’s consensus calculations require a minimum of three sources

AVE    AVECHO BIOTECHNOLOGY LIMITED

Medical Equipment & Devices – Overnight Price: $0.02

Research as a Service (RaaS) rates ((AVE)) as No Rating (-1) –

Avecho Biotechnology is currently developing a CBD (cannabidiol) soft-gel capsule for chronic insomnia.

 Research as a Service (RaaS) notes a pivotal phase 3 clinical trial is currently underway with potential to be the first over-the-counter CBD drug approved by Australia’s Therapeutic Goods Administration.

The interim results, announced on June 24, show consistency, with treatment efficacy that is sufficient to continue at the original sample size and providing the first insight since the trial started in March 2024.

The broker points out the company appears like a “biotech outlier” from a valuation perspective, at an $80m market capitalisation, a level considered low given that phase 3 could be completed successfully in the next 12 months and an existing licensing agreement signed with Sandoz. Valuation is set at 4.8 cents-6.8 cents.

Research as a Service (RaaS) research doesn’t carry any targets, ratings or recommendations. Investors can draw conclusions from valuations and commentary.

This report was published on June 25, 2026.

Current Price is $0.02. Target price not assessed.

All consensus data are updated until yesterday. FNArena’s consensus calculations require a minimum of three sources

BTR    BRIGHTSTAR RESOURCES LIMITED

Gold & Silver – Overnight Price: $0.30

Shaw and Partners rates ((BTR)) as Buy (1) –

Shaw and Partners initiates coverage on Brightstar Resources with a Buy rating and a $1.15 target price following an assessment of the dual-hub development strategy across the Goldfields and Sandstone gold projects.

Construction at the Goldfields hub is fully funded and underway, with first gold scheduled for the June quarter of 2027 to provide an initial 75kozpa production baseline.

The analyst notes current market valuations heavily discount project delivery, despite both sites representing relatively low-risk standard Western Australian gold operations leveraging historical mining infrastructure.

Expected resource updates alongside a maiden pre-feasibility study for the larger Sandstone deposit during the second half of 2026 should help unlock further market confidence.

Shaw and Partners concludes successful execution across both operational centres provides a realistic pathway to achieving a combined production profile of 275kozpa by FY31.

This report was published on June 25, 2026.

Target price is $1.15 Current Price is $0.30 Difference: $0.845
If BTR meets the Shaw and Partners target it will return approximately 277% (excluding dividends, fees and charges).
The company’s fiscal year ends in June.

Forecast for FY26:

Shaw and Partners forecasts a full year FY26 dividend of 0.00 cents and EPS of minus 3.60 cents.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is minus 8.47.

Forecast for FY27:

Shaw and Partners forecasts a full year FY27 dividend of 0.00 cents and EPS of minus 3.50 cents.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is minus 8.71.

All consensus data are updated until yesterday. FNArena’s consensus calculations require a minimum of three sources

CYM    CYPRIUM METALS LIMITED

Copper – Overnight Price: $0.41

Canaccord Genuity rates ((CYM)) as Speculative Buy (1) –

Canaccord Genuity maintains a Speculative Buy rating for Cyprium Metals with a $0.85 target price following a progress update on the Nifty copper mine restart.

First production remains on schedule for the September quarter of 2026, supported by the commissioning of a new acid terminal and structural refurbishment across the solvent extraction and electrowinning plants.

Management is currently evaluating system requirements to potentially expand cathode production capacity from 6ktpa to 20ktpa.

The analyst expects upcoming mine planning and drilling activities will successfully incorporate previously excluded shallow oxide material into the formal resource inventory during the second half of 2026.

Adding this oxide feed into the heap leach schedule presents a clear pathway to extend plant life and drive significant valuation upside, according to the broker.

This report was published on June 26, 2026.

Target price is $0.85 Current Price is $0.41 Difference: $0.44
If CYM meets the Canaccord Genuity target it will return approximately 107% (excluding dividends, fees and charges).

All consensus data are updated until yesterday. FNArena’s consensus calculations require a minimum of three sources

EHL    EMECO HOLDINGS LIMITED

Mining Sector Contracting – Overnight Price: $0.96

Jarden rates ((EHL)) as Neutral (3) –

Jarden maintains a Neutral rating for Emeco Holdings, with its target price decreased to $1.05 following an updated earnings guidance release.

Weaker rental equipment utilisation rates stemming from initial weather disruptions and subsequent customer-led demand caution regarding diesel security weighed heavily on late-year operating performance.

The analyst notes coal customers shifted activity away from equipment-intensive overburden removal towards inventory processing, suppressing near-term rental earnings despite broadly supportive commodity pricing conditions.

Maiden FY27 guidance anticipates flat year-on-year earnings featuring a pronounced second-half weighting, posing some ongoing execution risk across the intermediate horizon.

Jarden suggests a conservatively geared balance sheet provides solid scope for on-market share buybacks assuming strategic merger and acquisition opportunities remain absent.

This report was published on June 24, 2026.

Target price is $1.05 Current Price is $0.96 Difference: $0.085
If EHL meets the Jarden target it will return approximately 9% (excluding dividends, fees and charges).
The company’s fiscal year ends in June.

Forecast for FY26:

Jarden forecasts a full year FY26 dividend of 0.00 cents and EPS of 16.40 cents.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 5.88.

Forecast for FY27:

Jarden forecasts a full year FY27 dividend of 0.00 cents and EPS of 16.20 cents.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 5.96.

Market Sentiment: 0.0
All consensus data are updated until yesterday. FNArena’s consensus calculations require a minimum of three sources

EIQ    ECHOIQ LIMITED

Medical Equipment & Devices – Overnight Price: $1.59

Shaw and Partners rates ((EIQ)) as Buy (1) –

Shaw and Partners maintains a Buy rating for EchoIQ with its target price increased to $2.00 following a binding strategic partnership agreement with Pro Medicus ((PME)).

The US-focused arrangement includes up to $20m in potential investment alongside a reseller agreement designed to accelerate adoption of EchoSolv artificial intelligence diagnostics across an extensive hospital network.

The analyst notes 11 of the top 20 United States hospitals currently utilise Pro Medicus imaging software, implying a total addressable market approaching 165,000 echocardiograms annually.

Recent senior executive and clinical advisor appointments further strengthen operational capabilities ahead of anticipated FDA clearance for the heart failure product during the first half of 2026.

Upgraded discounted cash flow valuation models incorporate a higher 6.5% medium-term penetration rate assumption for the core heart failure diagnostic tool.

This report was published on June 26, 2026.

Target price is $2.00 Current Price is $1.59 Difference: $0.41
If EIQ meets the Shaw and Partners target it will return approximately 26% (excluding dividends, fees and charges).
Current consensus price target is $1.58, suggesting downside of -0.4%(ex-dividends)
The company’s fiscal year ends in June.

Forecast for FY26:

Shaw and Partners forecasts a full year FY26 dividend of 0.00 cents and EPS of minus 2.10 cents.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is minus 75.71.

How do these forecasts compare to market consensus projections?

Current consensus EPS estimate is -1.3, implying annual growth of N/A.
Current consensus DPS estimate is N/A, implying a prospective dividend yield of N/A.
Current consensus EPS estimate suggests the PER is N/A.

Forecast for FY27:

Shaw and Partners forecasts a full year FY27 dividend of 0.00 cents and EPS of minus 1.40 cents.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is minus 113.57.

How do these forecasts compare to market consensus projections?

Current consensus EPS estimate is -1.0, implying annual growth of N/A.
Current consensus DPS estimate is N/A, implying a prospective dividend yield of N/A.
Current consensus EPS estimate suggests the PER is N/A.

Market Sentiment: 1.0
All consensus data are updated until yesterday. FNArena’s consensus calculations require a minimum of three sources

GMD    GENESIS MINERALS LIMITED

Gold & Silver – Overnight Price: $5.39

Moelis rates ((GMD)) as Buy (1) –

Moelis maintains a Buy rating for Genesis Minerals with a $8.50 target price following encouraging exploration updates across the Laverton district.

Drilling results from the Bruno Lewis, Jupiter, and Beasley Creek open pits confirm shallow gold growth, while the FY27 exploration budget is expanded to $80–90m.

The analyst notes plant expansion studies to 4.5–5mtpa remain on track for completion before September 2026.

According to the broker, recent asset acquisitions further consolidate the regional production story and help derisk near-term processing throughput.

The investment thesis centres on increasing near-term mine feed grades to support volume growth in FY27 and mitigate potential gold price softness before the longer-dated step change to 450koz.

This report was published on June 28, 2026.

Target price is $8.50 Current Price is $5.39 Difference: $3.11
If GMD meets the Moelis target it will return approximately 58% (excluding dividends, fees and charges).
Current consensus price target is $9.31, suggesting upside of 72.7%(ex-dividends)

Forecast for FY26:

Current consensus EPS estimate is 50.2, implying annual growth of 147.7%.
Current consensus DPS estimate is N/A, implying a prospective dividend yield of N/A.
Current consensus EPS estimate suggests the PER is 10.7.

Forecast for FY27:

Current consensus EPS estimate is 61.2, implying annual growth of 21.9%.
Current consensus DPS estimate is N/A, implying a prospective dividend yield of N/A.
Current consensus EPS estimate suggests the PER is 8.8.

Market Sentiment: 1.0
All consensus data are updated until yesterday. FNArena’s consensus calculations require a minimum of three sources

JYC    JOYCE CORPORATION LIMITED

Furniture & Renovation – Overnight Price: $6.05

Canaccord Genuity rates ((JYC)) as Initiation of coverage with Buy (1) –

Canaccord Genuity initiates coverage on Joyce with a Buy rating and a $6.67 target price, highlighting the strong growth profile of its core renovation and furniture operations.

The analyst notes the kitchen and wardrobe showroom division, KWB Group, contributes 85% of group earnings and maintains a market-leading position within the fragmented do-it-for-me renovation segment.

An outsourced manufacturing and installation model supports operating margins exceeding 20% while luxury customer payment schedules ensure high cash conversion.

The report suggests network expansion plans targeting new showrooms across Victoria and Western Australia should drive long-term earnings growth despite potential near-term cyclical softness in written sales orders.

The broker values the business using an 18.0x multiple applied to FY27 earnings estimates, viewing a potential future move to full ownership of KWB as a major positive catalyst.

This report was published on June 17, 2026.

Target price is $6.67 Current Price is $6.05 Difference: $0.62
If JYC meets the Canaccord Genuity target it will return approximately 10% (excluding dividends, fees and charges).
The company’s fiscal year ends in June.

Forecast for FY26:

Canaccord Genuity forecasts a full year FY26 dividend of 27.00 cents and EPS of 36.00 cents.
At the last closing share price the estimated dividend yield is 4.46%.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 16.81.

Forecast for FY27:

Canaccord Genuity forecasts a full year FY27 dividend of 28.00 cents and EPS of 37.10 cents.
At the last closing share price the estimated dividend yield is 4.63%.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 16.31.

Market Sentiment: 1.0
All consensus data are updated until yesterday. FNArena’s consensus calculations require a minimum of three sources

MMI    METRO MINING LIMITED

Coal – Overnight Price: $1.74

Shaw and Partners rates ((MMI)) as Buy (1) –

Shaw and Partners retains a Buy rating for Metro Mining with a $3.00 target price following a site visit to the Bauxite Hills operation in Far North Queensland.

Recent operational improvements delivered a daily shipment record of 37,000 tonnes, positioning the miner to meet full-year shipping volume guidance.

A new integrated barge loading plan optimises tidal window constraints to ease river channel bottlenecks.

Early success utilising dry screening processes reduces silica impurity content across fines material, creating positive implications for product pricing and reserve life extensions.

The analyst anticipates strong free cash flow generation ahead, supported by elevated bauxite pricing and expected export volume reductions from competing Guinea producers.

This report was published on June 26, 2026.

Target price is $3.00 Current Price is $1.74 Difference: $1.265
If MMI meets the Shaw and Partners target it will return approximately 73% (excluding dividends, fees and charges).
The company’s fiscal year ends in December.

Forecast for FY26:

Shaw and Partners forecasts a full year FY26 dividend of 10.00 cents and EPS of 12.70 cents.
At the last closing share price the estimated dividend yield is 5.76%.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 13.66.

Forecast for FY27:

Shaw and Partners forecasts a full year FY27 dividend of 30.00 cents and EPS of 44.80 cents.
At the last closing share price the estimated dividend yield is 17.29%.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 3.87.

All consensus data are updated until yesterday. FNArena’s consensus calculations require a minimum of three sources

MYE    MASTERMYNE GROUP LIMITED

Mining Sector Contracting – Overnight Price: $0.30

Research as a Service (RaaS) rates ((MYE)) as No Rating (-1) –

Research as a Service (RaaS) considers Mastermyne Group materially undervalued as it has a “robust backlog” and a strong balance sheet.

A combination of a $461m order book and expanded $1.3bn opportunity pipeline and growing net cash position underpins this view.

With the proceedings at Moranbah now settled, outstanding regulator litigation is now with the Crinum appeal, which will be progressed in coming months.

The analyst has a valuation of $0.41, based on a “conservative” 4x EV/EBITDA multiple.

Research as a Service (RaaS) research does not carry ratings or recommendations. Investors can draw conclusions from the valuation and commentary.

This report was published on June 25, 2026.

Target price is $0.41 Current Price is $0.30 Difference: $0.105
If MYE meets the Research as a Service (RaaS) target it will return approximately 34% (excluding dividends, fees and charges).
The company’s fiscal year ends in June.

Forecast for FY26:

Research as a Service (RaaS) forecasts a full year FY26 EPS of 3.60 cents.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 8.47.

Forecast for FY27:

Research as a Service (RaaS) forecasts a full year FY27 EPS of 4.00 cents.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 7.63.

All consensus data are updated until yesterday. FNArena’s consensus calculations require a minimum of three sources

POL    POLYMETALS RESOURCES LIMITED

Gold & Silver – Overnight Price: $0.75

Shaw and Partners rates ((POL)) as Buy (1) –

Shaw and Partners maintains a Buy rating for Polymetals Resources with its target price decreased to $1.15 following confirmation of high-grade silver-lead-zinc mineralisation within the upper Main Lode at the Endeavor Mine.

Initial underground drilling results indicate robust massive sulphide zones remain intact adjacent to historical collapse boundaries.

The project benefits significantly from its position within an established operational footprint, offering a low-capex pathway to expand active mining inventories.

The analyst notes continued exploration success presents a high-probability opportunity to convert these newly defined zones directly into production schedules.

Revised forward models incorporate recent pullbacks across global precious metal spot markets, driving the valuation adjustment despite strong site-level technical progress.

This report was published on June 25, 2026.

Target price is $1.15 Current Price is $0.75 Difference: $0.4
If POL meets the Shaw and Partners target it will return approximately 53% (excluding dividends, fees and charges).
The company’s fiscal year ends in June.

Forecast for FY26:

Shaw and Partners forecasts a full year FY26 dividend of 0.00 cents and EPS of 12.60 cents.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 5.95.

Forecast for FY27:

Shaw and Partners forecasts a full year FY27 dividend of 0.00 cents and EPS of 52.40 cents.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 1.43.

Market Sentiment: 1.0
All consensus data are updated until yesterday. FNArena’s consensus calculations require a minimum of three sources

QAL    QUALITAS LIMITED

Wealth Management & Investments – Overnight Price: $3.01

Canaccord Genuity rates ((QAL)) as Buy (1) –

Canaccord Genuity maintains a Buy rating for Qualitas with a $4.45 target price following an operational overview outlining the development of internal artificial intelligence platforms.

The technology deployment aims to drive procedural efficiencies across commercial credit approval channels and underpins an upgrade to the company’s long-term Australian funds management EBITDA margin target to over 60%.

Capital development costs have been absorbed quietly above the line, keeping 1H26 and full-year FY26 profitability results lower than they would have been in the absence of this investment.

The analyst notes the initiative functions as a near-term cost burden providing minimal operational benefit in FY27, though larger average credit sizes should structurally support margin expansion over time.

Institutional funds management flows remain insulated relative to retail peer disruption, Canaccord comments, while the company retains an attractive multi-year growth runway across local and European private credit markets.

This report was published on June 28, 2026.

Target price is $4.45 Current Price is $3.01 Difference: $1.44
If QAL meets the Canaccord Genuity target it will return approximately 48% (excluding dividends, fees and charges).
Current consensus price target is $3.88, suggesting upside of 29.0%(ex-dividends)

Forecast for FY26:

Current consensus EPS estimate is 14.5, implying annual growth of 26.7%.
Current consensus DPS estimate is 11.8, implying a prospective dividend yield of 3.9%.
Current consensus EPS estimate suggests the PER is 20.8.

Forecast for FY27:

Current consensus EPS estimate is 17.1, implying annual growth of 17.9%.
Current consensus DPS estimate is 13.9, implying a prospective dividend yield of 4.6%.
Current consensus EPS estimate suggests the PER is 17.6.

Market Sentiment: 1.0
All consensus data are updated until yesterday. FNArena’s consensus calculations require a minimum of three sources

SGLLV    RICEGROWERS LIMITED

Food, Beverages & Tobacco – Overnight Price: $15.95

Canaccord Genuity rates ((SGLLV)) as Buy (1) –

Canaccord Genuity maintains a Buy rating for Ricegrowers Limited with its target price lowered to $17.90 following a review of the company’s FY26 result.

Operational diversification across global markets helped buffer top-line headwinds and consumer spending shifts, though drier conditions and lower mill-out rates in the New South Wales Riverina emerged quicker than previously anticipated.

The analyst points out that the upcoming year faces margin compression from cost under-absorption and operational inefficiencies within regional milling facilities, heavily skewing earnings expectations towards the second half.

Forward estimate revisions drive the lower valuation baseline, partly mitigated by robust free cash generation and strong margin execution in animal feed segments.

The investment thesis centres on mid-single-digit organic growth derived from expanding product launches in the United States and strategic geographic range extensions in the Middle East.

This report was published on June 28, 2026.

Target price is $17.90 Current Price is $15.95 Difference: $1.95
If SGLLV meets the Canaccord Genuity target it will return approximately 12% (excluding dividends, fees and charges).

Market Sentiment: 1.0
All consensus data are updated until yesterday. FNArena’s consensus calculations require a minimum of three sources

SPK    SPARK NEW ZEALAND LIMITED

Telecommunication – Overnight Price: $1.53

Jarden rates ((SPK)) as Upgrade to Overweight from Neutral (2) –

Jarden upgrades its rating for Spark New Zealand to Overweight with a NZ$2.27 target price following recent share price underperformance.

The analyst notes a compelling valuation entry level has emerged after shares dropped -14% compared to a 2% rise across the broader market index.

Jarden comments that growing overall earnings looks difficult given legacy pressures across the business, particularly concerning broadband gross margins.

In addition, future dividend growth appears unlikely unless capital expenditure is meaningfully reduced.

Mobile divisions remain a constructive earnings lever, the broker concludes, leaving group profitability highly dependent on continued benign regulatory conditions.

This report was published on June 24, 2026.

Current Price is $1.53. Target price not assessed.
Current consensus price target is N/A

Forecast for FY26:

Current consensus EPS estimate is 10.1, implying annual growth of N/A.
Current consensus DPS estimate is 13.4, implying a prospective dividend yield of 8.7%.
Current consensus EPS estimate suggests the PER is 15.2.

Forecast for FY27:

Current consensus EPS estimate is 12.1, implying annual growth of 19.8%.
Current consensus DPS estimate is 13.6, implying a prospective dividend yield of 8.8%.
Current consensus EPS estimate suggests the PER is 12.7.

This company reports in NZD. All estimates have been converted into AUD by FNArena at present FX values.
Market Sentiment: 0.3
All consensus data are updated until yesterday. FNArena’s consensus calculations require a minimum of three sources

TEA    TASMEA LIMITED

Mining Sector Contracting – Overnight Price: $9.57

Canaccord Genuity rates ((TEA)) as Buy (1) –

Canaccord Genuity maintains a Buy rating for Tasmea with its target price increased to $10.85 following the announced acquisition of JPS Group.

The $75m purchase provides immediate exposure to the liquefied natural gas and critical energy infrastructure sectors via long-term master service agreements.

The analyst anticipates the transaction will prove highly accretive given the recurring nature of shutdown activity across ageing domestic energy assets.

Forward estimates now incorporate the new earnings base, assuming the acquired entity delivers $12m in EBIT during FY27.

Canaccord comments further revenue synergies appear likely over the medium term as the company cross-sells existing specialist services into a new blue-chip customer base.

This report was published on June 26, 2026.

Target price is $10.85 Current Price is $9.57 Difference: $1.28
If TEA meets the Canaccord Genuity target it will return approximately 13% (excluding dividends, fees and charges).

Market Sentiment: 0.3
All consensus data are updated until yesterday. FNArena’s consensus calculations require a minimum of three sources

YRL    YANDAL RESOURCES LIMITED

Gold & Silver – Overnight Price: $0.18

Shaw and Partners rates ((YRL)) as Buy (1) –

Shaw and Partners maintains a Buy rating for Yandal Resources with a $0.51 target price following encouraging diamond drilling results at the Flushing Meadows deposit.

The first deeper drill hole into fresh rock successfully intercepted significant gold mineralisation at 300m below the surface, validating structural geological concepts across the broader strike length.

The analyst considers the current market capitalisation heavily discounted relative to the existing 450koz resource inventory located primarily on granted mining leases.

Commentary concludes extensional drilling momentum provides a realistic pathway to achieving a combined 1Moz resource baseline within the next year.

Achieving this critical mass scale could unlock synergistic corporate appeal given the abundance of existing third-party processing infrastructure across the Yandal region, the report concludes.

This report was published on June 26, 2026.

Target price is $0.51 Current Price is $0.18 Difference: $0.325
If YRL meets the Shaw and Partners target it will return approximately 176% (excluding dividends, fees and charges).
The company’s fiscal year ends in June.

Forecast for FY26:

Shaw and Partners forecasts a full year FY26 dividend of 0.00 cents and EPS of minus 2.20 cents.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is minus 8.41.

Forecast for FY27:

Shaw and Partners forecasts a full year FY27 dividend of 0.00 cents and EPS of minus 1.90 cents.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is minus 9.74.

All consensus data are updated until yesterday. FNArena’s consensus calculations require a minimum of three sources

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