Australian Broker Call *Extra* Edition – Jul 30, 2026

This story features ALPHA HPA LIMITED, and other companies.
For more info SHARE ANALYSIS: A4N
The company is included in ASX300 and 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)

A4N   AEU   AUE   BGL   BM1   BMN   BOT   BPT   BTL   CAT   DUR   EOS   GGP   GMD   HGO   HUB   IGO   LAM   LGI   LMG   LYC   MLX   MXI   PC2   PEN   PPS   PSC   RHC   RRL   SFR   SS1   STN   SX2   TCG   VAU   WGX   WZR  

A4N    ALPHA HPA LIMITED

Aluminium, Bauxite & Alumina – Overnight Price: $0.50

Canaccord Genuity rates ((A4N)) as Speculative Buy (1) –

Canaccord Genuity maintains a Speculative Buy rating for Alpha HPA with a $1.20 target price following a fourth-quarter update confirming Stage 2 construction and capital expenditure guidance remain on track at $699m.

Stage 2 nameplate capacity increased 17% to 12,230tpa based on Stage 1 performance, driving a 14% lift in steady-state revenue.

Non-binding letters of intent now exceed 12,000 tonnes as semiconductor demand accelerates, lifting long-term steady-state FY32 EBITDA forecasts 13% to $314m.

The analyst views debt accessibility and unchanged capex guidance as key catalysts reducing market concerns while providing operating leverage at full plant run rate.

This report was published on July 23, 2026.

Target price is $1.20 Current Price is $0.50 Difference: $0.7
If A4N meets the Canaccord Genuity target it will return approximately 140% (excluding dividends, fees and charges).
Current consensus price target is $1.15, suggesting upside of 130.0%(ex-dividends)

Forecast for FY26:

Current consensus EPS estimate is -4.3, 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:

Current consensus EPS estimate is 1.7, 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 29.4.

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

AEU    ATOMIC EAGLE LIMITED

Uranium – Overnight Price: $0.40

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

Shaw and Partners maintains a Buy rating for Atomic Eagle with a $1.70 target price following the release of the June quarter 2026 operational update.

The report observes encouraging early exploration results reported at the flagship Muntanga uranium project in Zambia, where a 30,000m drilling campaign aims to double the existing 58.8mlb resource base to support an expanded 4-5mlbpa development scenario.

Environmental and social impact approvals for Muntanga were secured during the period, significantly de-risking the project development pathway post-exploration.

Commentary also highlights discussions with the government of Niger regarding a new mining convention for the Madaouela uranium project progressed constructively, offering material upside option value beyond current zero valuation assumptions.

The analyst bases the valuation on a discounted cash flow model for Muntanga, highlighting substantial scale potential across the Zambian tenure.

This report was published on July 29, 2026.

Target price is $1.70 Current Price is $0.40 Difference: $1.3
If AEU meets the Shaw and Partners target it will return approximately 325% (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 3.90 cents.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is minus 10.26.

Forecast for FY27:

Shaw and Partners forecasts a full year FY27 dividend of 0.00 cents and EPS of minus 4.00 cents.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is minus 10.00.

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

AUE    AURUM RESOURCES LIMITED

Gold & Silver – Overnight Price: $0.46

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

Canaccord Genuity maintains a Speculative Buy rating for Aurum Resources with a $1.40 target price following encouraging final drilling results from the BDT2 deposit at the Boundiali gold project in Cote d’Ivoire.

Infill and step-out drilling intersected deeper high-grade intercepts, including 6.54m at 13.36g/t gold from 272m, extending mineralisation beyond current resource limits ahead of an update scheduled for the September quarter of 2026.

Although BDT2 represents 32% of total mine inventory tonnes, it currently carries the lowest grade in the mine plan at 0.6g/t gold compared to the overall reserve average of 0.9g/t gold.

Commentary points out that incorporating recent higher-grade intercepts offers potential to deliver a disproportionate uplift to overall project grade and contained ounces.

The analyst considers the ongoing exploration success crucial for enhancing project economics ahead of a Definitive Feasibility Study scheduled for late 2026, which remains fully funded by $55m in cash reserves.

This report was published on July 29, 2026.

Target price is $1.40 Current Price is $0.46 Difference: $0.945
If AUE meets the Canaccord Genuity target it will return approximately 208% (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

BGL    BELLEVUE GOLD LIMITED

Gold & Silver – Overnight Price: $1.26

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

Jarden upgrades to an Overweight rating for Bellevue Gold with a $1.35 target price following preliminary expectations for FY26 operational results.

Full-year FY26 metrics project revenue of $576m, EBITDA of $238m, and net profit after tax of $6m, alongside an estimated net debt position of -$135m when including lease liabilities.

Management’s FY27 production guidance of 160koz to 170koz appears conservative to the analyst relative to house estimates of 170koz and market consensus of 165koz.

All-in sustaining cost guidance for FY27 ranges between $2,800/oz and $3,100/oz, representing a 4% increase year-on-year towards the lower end of sector guidance.

The analyst highlights compelling free cash flow yields of 7%-19% across FY27 through FY30, supported by an enterprise value to EBITDA multiple below 4.5x, strong exploration potential, and corporate appeal.

This report was published on July 29, 2026.

Target price is $1.35 Current Price is $1.26 Difference: $0.085
If BGL meets the Jarden target it will return approximately 7% (excluding dividends, fees and charges).
Current consensus price target is $1.77, suggesting upside of 41.3%(ex-dividends)

Forecast for FY26:

Current consensus EPS estimate is -0.4, 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:

Current consensus EPS estimate is 20.6, implying annual growth of N/A.
Current consensus DPS estimate is 2.0, implying a prospective dividend yield of 1.6%.
Current consensus EPS estimate suggests the PER is 6.1.

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

BM1    BALLARD MINING LIMITED

Gold & Silver – Overnight Price: $0.60

Canaccord Genuity rates ((BM1)) as Speculative Buy (1) –

Canaccord Genuity maintains a Speculative Buy rating for Ballard Mining with a $1.50 target price following high-grade drilling results at the Mt Ida gold project in Western Australia.

Standout regional drilling at the West Knell prospect returned 9m at 27.1g/t gold from 191m, representing a 244 gram-metre intercept outside the current 40koz resource boundary.

The result confirms mineralisation at depths approaching 200m along the 13km Ballard Fault Zone, supporting an updated resource estimate expected in the September quarter 2026.

Management evaluates West Knell as a potential satellite ore source to supplement the cornerstone Baldock underground deposit in a planned 1.5Mtpa processing operation targeting 100kozpa over an eight-year mine life.

The analyst considers the emerging multi-prospect trend a key second growth front capable of materially expanding overall project scale ahead of a maiden Ore Reserve and a Definitive Feasibility Study expected in the first half of 2027.

This report was published on July 28, 2026.

Target price is $1.50 Current Price is $0.60 Difference: $0.895
If BM1 meets the Canaccord Genuity target it will return approximately 148% (excluding dividends, fees and charges).

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

BMN    BANNERMAN ENERGY LIMITED

Uranium – Overnight Price: $3.00

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

Canaccord Genuity maintains a Speculative Buy rating for Bannerman Energy with a $5.80 target price following progress on the Etango uranium project in Namibia.

Completion of the US321.5m CNNC transaction remains expected in the September quarter of 2026 upon finalising Chinese regulatory filings, with a final investment decision anticipated shortly thereafter.

Development activities advance on schedule, as bulk earthworks reach 92% completion and Phase 1 water pipeline construction reaches 87% completion alongside fully executed water and power supply agreements.

June quarter expenditure of $16m left the company with $53.1m in cash and $11.5m in liquid assets at financial year-end to fund early works commitments of $36.2m.

The analyst considers the transaction completion a low-risk compliance exercise, providing strong uranium price leverage backed by secured project funding.

This report was published on July 28, 2026.

Target price is $5.80 Current Price is $3.00 Difference: $2.8
If BMN meets the Canaccord Genuity target it will return approximately 93% (excluding dividends, fees and charges).
Current consensus price target is $4.73, suggesting upside of 63.2%(ex-dividends)

Forecast for FY26:

Current consensus EPS estimate is -0.9, 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:

Current consensus EPS estimate is -0.6, 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: 0.7
All consensus data are updated until yesterday. FNArena’s consensus calculations require a minimum of three sources

BOT    BOTANIX PHARMACEUTICALS LIMITED

Pharmaceuticals & Biotech/Lifesciences – Overnight Price: $0.02

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

Canaccord Genuity maintains a Buy rating for Botanix Pharmaceuticals with a $0.14 target price following a fourth-quarter update featuring in-line sales and improving cost efficiencies.

Fourth-quarter net revenue rose 46% sequentially to $10.1m, driven by a 25% jump in prescription volumes to 33,358 and a gross-to-net yield recovery to 22% amid normalising US deductibles.

Operating cash outflows improved materially to $10.6m in the absence of active pharmaceutical ingredient purchases, while management aligned spending with high-demand territories by reducing the sales team by -11 representatives.

The analyst estimates this targeted regional strategy frees up $6m to $8m in annualised costs, providing scope to deploy savings into additional dermatology products and improve future earnings leverage.

First-quarter FY27 forecasts anticipate 37,872 scripts, supported by the Northern Hemisphere summer and a durable trajectory for Sofdra prescriptions through streamlined onboarding.

This report was published on July 28, 2026.

Target price is $0.14 Current Price is $0.02 Difference: $0.121
If BOT meets the Canaccord Genuity target it will return approximately 637% (excluding dividends, fees and charges).

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

BPT    BEACH ENERGY LIMITED

Crude Oil – Overnight Price: $0.92

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

Canaccord Genuity retains a Buy rating for Beach Energy with its target price lowered to $1.20 from $1.43 following a subdued fourth-quarter operational result.

Fourth-quarter production of 4.9mboe brought full-year FY26 production to 19.4mboe at the bottom end of revised guidance, affected by early-phase commissioning and operational factors at the Waitsia facility.

Full-year sales revenue of $1,801m missed prior estimates by -5.5% as a -50% quarterly drop in oil liftings and lower sales volumes offset higher realised prices averaging $84/boe.

To reflect operational delays and lower sales volumes, the analyst cuts underlying EBITDAX estimates by -10% to $892m and underlying net profit after tax to $287m while retaining a final dividend forecast of 2.0c.

Long-term growth optionality remains supported by a 25% interest in the Taroom Trough and the agreed divestment of an operated Otway position for $70m-plus royalties.

This report was published on July 23, 2026.

Target price is $1.20 Current Price is $0.92 Difference: $0.285
If BPT meets the Canaccord Genuity target it will return approximately 31% (excluding dividends, fees and charges).
Current consensus price target is $0.88, suggesting downside of -4.2%(ex-dividends)

Forecast for FY26:

Current consensus EPS estimate is 14.4, implying annual growth of N/A.
Current consensus DPS estimate is 2.8, implying a prospective dividend yield of 3.0%.
Current consensus EPS estimate suggests the PER is 6.4.

Forecast for FY27:

Current consensus EPS estimate is 15.9, implying annual growth of 10.4%.
Current consensus DPS estimate is 4.7, implying a prospective dividend yield of 5.1%.
Current consensus EPS estimate suggests the PER is 5.8.

Market Sentiment: -0.6
All consensus data are updated until yesterday. FNArena’s consensus calculations require a minimum of three sources

BTL    BEETALOO ENERGY AUSTRALIA LIMITED

Energy – Overnight Price: $0.23

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

Canaccord Genuity maintains a Speculative Buy rating for Beetaloo Energy Australia with a $0.45 target price following the establishment of subsidiary Beetaloo Digital.

The Northern Territory Government granted a 12-month exclusivity commitment over 185ha near Darwin to progress pre-FEED studies for an integrated gas-fired power and data centre project.

With site capacity framed at up to 2GW of gas-fired power requiring approximately 200TJ/d per GW, the initiative introduces potential large-scale domestic offtake demand above the company’s current long-term targets.

Strong regional regulatory support underpins the development of the Beetaloo Basin alongside ongoing well stimulation and pre-commissioning milestones.

The analyst expects upcoming catalysts to include JV partner updates, seismic data interpretation in the third quarter of 2026, and plant commissioning in the fourth quarter of 2026.

This report was published on July 29, 2026.

Target price is $0.45 Current Price is $0.23 Difference: $0.225
If BTL meets the Canaccord Genuity target it will return approximately 100% (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

CAT    CATAPULT SPORTS LIMITED

Medical Equipment & Devices – Overnight Price: $3.39

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

Canaccord Genuity maintains a Buy rating for Catapult Sports with an $8.00 target price following the launch of the IMPECT Video Scouting solution for the global football market.

This new tool integrates proprietary performance metrics directly into the existing Pro Video Suite, creating a unified workflow for match analysis and player recruitment capable of benchmarking athletes across more than 150 global leagues.

The analyst views the release as a critical step to close the feature gap with industry incumbent Hudl, anticipating a bundled pricing strategy will drive significant cross-selling opportunities across the existing base of over 1,500 football teams.

While meaningful annual contract value inflection is expected to emerge in FY28 and FY29 as professional teams trial the software, the product represents a genuine structural tailwind to unlock a potential US$75m in near-term value.

Despite recent share price appreciation of 20%, Canaccord argues current trading multiples remain undemanding for a business now equipped with its most comprehensive product suite to date, supporting a long-term goal of exceeding US$100k in annual contract value per team.

This report was published on July 24, 2026.

Target price is $8.00 Current Price is $3.39 Difference: $4.61
If CAT meets the Canaccord Genuity target it will return approximately 136% (excluding dividends, fees and charges).
Current consensus price target is $5.13, suggesting upside of 48.8%(ex-dividends)

Forecast for FY27:

Current consensus EPS estimate is -6.2, 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 FY28:

Current consensus EPS estimate is -1.8, 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.

This company reports in USD. All estimates have been converted into AUD by FNArena at present FX values.
Market Sentiment: 1.0
All consensus data are updated until yesterday. FNArena’s consensus calculations require a minimum of three sources

DUR    DURATEC LIMITED

Industrial Sector Contractors & Engineers – Overnight Price: $2.18

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

Shaw and Partners maintains a Buy rating for Duratec with a $3.10 target price following $70m in new contract awards across the energy, marine, and mining sectors.

Major project wins include construction management for the Orica Hunter Valley Hydrogen Hub, Perth Airport jet fuel expansion design services, wharf remediation at Fremantle Ports, and a three-year Rio Tinto ((RIO)) structural integrity agreement.

Commentary suggests potential future upside stems from proposed investigations into constructing a new Western Australian oil refinery, offering further long-term asset protection and maintenance opportunities.

Earnings forecasts remain unchanged, supported by strong execution across traditional infrastructure and decarbonisation project pipelines.

The analyst considers the company well-positioned to capture downstream work across critical energy corridors whilst expanding local workforce capabilities.

This report was published on July 29, 2026.

Target price is $3.10 Current Price is $2.18 Difference: $0.92
If DUR meets the Shaw and Partners target it will return approximately 42% (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 4.30 cents and EPS of 10.20 cents.
At the last closing share price the estimated dividend yield is 1.97%.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 21.37.

Forecast for FY27:

Shaw and Partners forecasts a full year FY27 dividend of 5.20 cents and EPS of 11.60 cents.
At the last closing share price the estimated dividend yield is 2.39%.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 18.79.

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

EOS    ELECTRO OPTIC SYSTEMS HOLDINGS LIMITED

Military & Defence – Overnight Price: $6.67

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

Canaccord Genuity retains a Buy rating for Electro Optic Systems with a $14.20 target price following a “robust” first-half operational update.

First-half revenue reached $169m to beat expectations by 33%, driving an upgrade to full-year FY26 base business revenue guidance to between $280m and $300m.

A surge in Remote Weapon Systems contract wins pushed the total order backlog to a record $846m, securing near-term manufacturing schedules and supporting positive underlying earnings for the half.

The recent Marss acquisition secured $188m in new orders to broaden counter-drone software capabilities, whilst the balance sheet finished the period with $256m in cash despite elevated security deposits weighing on operating cash flow.

Upgrading FY26 through FY28 revenue estimates by 1%-12%, the analyst views a recent -40% share price drop as presenting an undemanding entry point given the highly de-risked forward earnings profile.

This report was published on July 28, 2026.

Target price is $14.20 Current Price is $6.67 Difference: $7.53
If EOS meets the Canaccord Genuity target it will return approximately 113% (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

GGP    GREATLAND RESOURCES LIMITED

Gold & Silver – Overnight Price: $10.23

Moelis rates ((GGP)) as Sell (5) –

Moelis maintains a Sell rating for Greatland Resources with an $11.50 target price following the release of June quarter production results.

Gold production of 79.1koz arrived broadly in line with expectations, bringing full-year FY26 output to 329.0koz at an all-in sustaining cost of $2,179/oz.

Attention shifts towards FY27 guidance, which implies a -15% reduction in gold output alongside a 43% surge in unit costs as lower-grade stockpiles and reduced copper by-product credits weigh on operational metrics.

Major growth capital expenditure across Telfer and Havieron will drive an extended investment phase through FY29, requiring up to -$850m in combined project and exploration spending in FY27.

Whilst $1.29bn in cash reserves provides ample liquidity, the analyst stresses execution risks and cash conversion pressures remain significant headwinds.

This report was published on July 30, 2026.

Target price is $11.50 Current Price is $10.23 Difference: $1.27
If GGP meets the Moelis target it will return approximately 12% (excluding dividends, fees and charges).
Current consensus price target is $15.06, suggesting upside of 47.2%(ex-dividends)

Forecast for FY26:

Current consensus EPS estimate is 126.7, implying annual growth of 99.3%.
Current consensus DPS estimate is N/A, implying a prospective dividend yield of N/A.
Current consensus EPS estimate suggests the PER is 8.1.

Forecast for FY27:

Current consensus EPS estimate is 92.5, implying annual growth of -27.0%.
Current consensus DPS estimate is N/A, implying a prospective dividend yield of N/A.
Current consensus EPS estimate suggests the PER is 11.1.

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: $5.99

Moelis rates ((GMD)) as Buy (1) –

Moelis maintains a Buy rating for Genesis Minerals with its target price reduced to $6.90 from $7.70 following the release of fourth-quarter production results.

Gold production reached 70.8koz at an all-in sustaining cost of $2,797/oz, while net cash closed the period at $288.9m reflecting debt-funded payments for the Magnetic acquisition.

Management issued standalone FY27 guidance, though the impending Vault Minerals ((VAU)) transaction is expected to transform the business into an operation delivering an annualised production cadence of 550koz to 600koz by the second half of the year.

The analyst defers formally incorporating the acquisition into base-case forecasts until completion certainty improves, noting current standalone guidance implies potential cash flow momentum softening over the next 12 months.

Despite the target adjustment, the broker anticipates additional momentum in the lead-up to the business combination, providing sufficient upside to retain the positive rating.

This report was published on July 29, 2026.

Target price is $6.90 Current Price is $5.99 Difference: $0.91
If GMD meets the Moelis target it will return approximately 15% (excluding dividends, fees and charges).
Current consensus price target is $8.85, suggesting upside of 47.7%(ex-dividends)
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 46.40 cents.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 12.91.

How do these forecasts compare to market consensus projections?

Current consensus EPS estimate is 48.3, implying annual growth of 138.3%.
Current consensus DPS estimate is N/A, implying a prospective dividend yield of N/A.
Current consensus EPS estimate suggests the PER is 12.4.

Forecast for FY27:

Moelis forecasts a full year FY27 dividend of 0.00 cents and EPS of 62.30 cents.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 9.61.

How do these forecasts compare to market consensus projections?

Current consensus EPS estimate is 56.0, implying annual growth of 15.9%.
Current consensus DPS estimate is 1.5, implying a prospective dividend yield of 0.3%.
Current consensus EPS estimate suggests the PER is 10.7.

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

HGO    HILLGROVE RESOURCES LIMITED

Copper – Overnight Price: $0.05

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

Canaccord Genuity maintains a Speculative Buy rating for Hillgrove Resources with a $0.10 target price following the release of the June quarter 2026 operational report.

Copper production reached 3.2kt alongside 1.8koz of gold and 23.3koz of silver, with all-in sustaining costs of $5.76/lb beating expectations while cash reserves expanded to $32.2m.

Board approval was granted to develop the Emily Star deposit at Kanmantoo for $20m to $22m to establish a third underground mining front by the second half of 2027, while a 15-to-1 share consolidation and corporate name change to Kantra Copper Limited remain subject to shareholder approval.

Earnings before interest, tax, depreciation and amortisation estimates were revised up 25% for 2026 and 13% for 2027, supported by pre-feasibility studies investigating potential ore processing from Mutooroo to boost annual production to 19.2ktpa from 2030.

The analyst considers current trading levels an attractive entry point at a discounted 0.60x net asset value, underpinned by high-grade gold contributions and near-term hedge completions.

This report was published on July 22, 2026.

Target price is $0.10 Current Price is $0.05 Difference: $0.046
If HGO meets the Canaccord Genuity target it will return approximately 85% (excluding dividends, fees and charges).

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

HUB    HUB24 LIMITED

Wealth Management & Investments – Overnight Price: $86.21

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

Canaccord Genuity maintains a Buy rating for Hub24 with its target price lowered to $99.50 from $102.60 following a “subdued” fourth-quarter platform update.

Fourth-quarter platform net inflows of $4.2bn brought underlying FY26 net flows to a record $18.9bn, pushing total platform funds under administration up 24% on the prior corresponding period to $139.5bn.

Superannuation net inflows remained resilient, offsetting softer investment debt and portfolio service flows impacted by Federal Budget changes and broader market volatility.

To reflect lower platform revenue margins alongside revised flow expectations, the analyst adjusts earnings per share estimates by -4.2% for FY26, -0.3% for FY27, and 0.9% for FY28.

Expanding adviser network headcount, growing high-net-worth product adoption, and market share gains reaching 9.9% support a strong operational setup entering FY27, the report concludes.

This report was published on July 22, 2026.

Target price is $99.50 Current Price is $86.21 Difference: $13.29
If HUB meets the Canaccord Genuity target it will return approximately 15% (excluding dividends, fees and charges).
Current consensus price target is $102.34, suggesting upside of 20.0%(ex-dividends)

Forecast for FY26:

Current consensus EPS estimate is 160.9, implying annual growth of 63.9%.
Current consensus DPS estimate is 77.2, implying a prospective dividend yield of 0.9%.
Current consensus EPS estimate suggests the PER is 53.0.

Forecast for FY27:

Current consensus EPS estimate is 190.6, implying annual growth of 18.5%.
Current consensus DPS estimate is 94.1, implying a prospective dividend yield of 1.1%.
Current consensus EPS estimate suggests the PER is 44.8.

Market Sentiment: 0.7
All consensus data are updated until yesterday. FNArena’s consensus calculations require a minimum of three sources

IGO    IGO LIMITED

Nickel – Overnight Price: $6.92

Jarden rates ((IGO)) as Neutral (3) –

Jarden maintains a Neutral rating for IGO Ltd with its target price lowered to $6.00 from $6.20 following the release of a quarterly production update.

The resumption of the Windfield dividend, delivering a $390m payout with 97m attributable to the company, served as the primary highlight of the period.

Operations at Greenbushes concluded FY26 at the upper end of revised guidance, generating an 80% EBITDA margin despite lithium oxide grades tracking below historical averages at 1.73%.

The joint venture structure continues restricting visibility on mining and processing physicals, prompting the analyst to await the upcoming life-of-mine optimisation disclosure.

The broker considers the stock the preferred lithium exposure, noting the current share price implies a long-term spodumene concentrate price of US$1,400/t.

This report was published on July 29, 2026.

Target price is $6.00 Current Price is $6.92 Difference: minus $0.92 (current price is over target).
If IGO meets the Jarden target it will return approximately minus 13% (excluding dividends, fees and charges – negative figures indicate an expected loss).
Current consensus price target is $8.64, suggesting upside of 27.8%(ex-dividends)

Forecast for FY26:

Current consensus EPS estimate is 13.6, implying annual growth of N/A.
Current consensus DPS estimate is 1.5, implying a prospective dividend yield of 0.2%.
Current consensus EPS estimate suggests the PER is 49.7.

Forecast for FY27:

Current consensus EPS estimate is 90.5, implying annual growth of 565.4%.
Current consensus DPS estimate is 16.3, implying a prospective dividend yield of 2.4%.
Current consensus EPS estimate suggests the PER is 7.5.

Market Sentiment: 0.6
All consensus data are updated until yesterday. FNArena’s consensus calculations require a minimum of three sources

LAM    LARAMIDE RESOURCES LIMITED

Uranium – Overnight Price: $0.53

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

Canaccord Genuity maintains a Speculative Buy rating for Laramide Resources with a $1.60 target price.

The company released an updated Preliminary Economic Assessment for the Westmoreland uranium project in Queensland, demonstrating a post-tax net present value of US$741m and a 33% internal rate of return.

Expanding the operation’s scale, the revised study models a 2.9Mtpa throughput and average annual production of 4.35Mlbpa, offsetting higher initial capital expenditure of US$550m and C1 cash costs of US$41/lb.

The analyst notes expedited cash flows and increased production volumes balance the higher cost assumptions, although a 25% risk weighting remains applied to the project valuation pending the potential removal of the Queensland uranium mining ban.

Further strategic appeal is supported by progressing discharge permits at the Crownpoint-Churchrock project and a shifting domestic political backdrop regarding uranium supply.

This report was published on July 24, 2026.

Target price is $1.60 Current Price is $0.53 Difference: $1.07
If LAM meets the Canaccord Genuity target it will return approximately 202% (excluding dividends, fees and charges).

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

LGI    LGI LIMITED

Overnight Price: $2.40

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

Canaccord Genuity maintains a Buy rating for LGI with its target price lowered to $3.65 from $4.55 following softer power prices and commissioning delays.

Lower electricity prices across New South Wales and Queensland in the first half of 2026 prompted an -11% reduction in FY27 and FY28 EBITDA estimates, alongside a -20% reduction in EPS projections.

Commissioning of the 12MW Mugga Lane battery project experienced minor delays, pushing the expected FY26 EBITDA estimate to the lower end of management guidance of $21.7m to $22.6m.

New operational capacity remains on track for FY27, including 12MW Belrose batteries and an 11MW hybrid power station at Nowra.

The analyst views the -42% year-to-date share price decline as an overreaction, highlighting 54% upside potential and expanding Australian Carbon Credit Unit generation across the landfill gas portfolio.

This report was published on July 27, 2026.

Target price is $3.65 Current Price is $2.40 Difference: $1.25
If LGI meets the Canaccord Genuity target it will return approximately 52% (excluding dividends, fees and charges).
Current consensus price target is $3.97, suggesting upside of 65.3%(ex-dividends)

Forecast for FY26:

Current consensus EPS estimate is 8.6, implying annual growth of 18.0%.
Current consensus DPS estimate is 2.6, implying a prospective dividend yield of 1.1%.
Current consensus EPS estimate suggests the PER is 27.9.

Forecast for FY27:

Current consensus EPS estimate is 9.1, implying annual growth of 5.8%.
Current consensus DPS estimate is 2.6, implying a prospective dividend yield of 1.1%.
Current consensus EPS estimate suggests the PER is 26.4.

Market Sentiment: 0.8
All consensus data are updated until yesterday. FNArena’s consensus calculations require a minimum of three sources

LMG    LATROBE MAGNESIUM LIMITED

Industrial Metals – Overnight Price: $0.01

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

Shaw and Partners maintains a Buy rating for Latrobe Magnesium with a $0.06 target price following executive leadership succession updates and operational progress at its demonstration plant.

Founder and Chief Executive David Paterson will retire in September 2026, with former Macquarie resources research head Rob Stein appointed as successor alongside Peter Mizera heading the construction committee.

Demonstration plant construction reached 50% completion at the end of July, keeping first magnesium metal production on track for the second half of 2026.

Thermal testing at the reduction furnace successfully resolved key engineering risks by holding target temperatures of 1,180°C without structural cracking or lining movement.

The analyst considers orderly management transitions and execution milestones constructive for commercialisation, positioning the company as a rare Western source of magnesium metal.

This report was published on July 29, 2026.

Target price is $0.06 Current Price is $0.01 Difference: $0.049
If LMG meets the Shaw and Partners target it will return approximately 445% (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 0.00 cents.

Forecast for FY27:

Shaw and Partners forecasts a full year FY27 dividend of 0.00 cents and EPS of 0.00 cents.

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

LYC    LYNAS RARE EARTHS LIMITED

Rare Earth Minerals – Overnight Price: $14.10

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

Canaccord Genuity maintains a Buy rating for Lynas Rare Earths with its target price lowered to $21.00 from $22.00 following June quarter production of 1.9kt NdPr and 3.5kt TREO.

Softer quarterly output stemmed from ore feed variability and temporary concentrate grade impacts from newly installed permanent crushers, though stronger realised pricing of $98/kg and disciplined capital expenditure lifted closing cash reserves to $1.21bn.

Capital expenditure for expanding heavy rare earth separation capacity increased to $294m from $180m, targeting operational readiness by the second half of 2027.

The company also firmed up a magnet manufacturing partnership with JS Link via a $50m equity investment securing long-term oxide supply through 2038.

To account for operational grade adjustments at Mt Weld and revised throughput trajectories, the analyst lowers FY26 and FY27 production estimates, considering the -30% pull-back in share price since April 2026 an attractive entry point supported by floor price arrangements and stable benchmark pricing.

This report was published on July 23, 2026.

Target price is $21.00 Current Price is $14.10 Difference: $6.9
If LYC meets the Canaccord Genuity target it will return approximately 49% (excluding dividends, fees and charges).
Current consensus price target is $17.08, suggesting upside of 24.4%(ex-dividends)

Forecast for FY26:

Current consensus EPS estimate is 26.9, implying annual growth of 3064.7%.
Current consensus DPS estimate is N/A, implying a prospective dividend yield of N/A.
Current consensus EPS estimate suggests the PER is 51.0.

Forecast for FY27:

Current consensus EPS estimate is 58.9, implying annual growth of 119.0%.
Current consensus DPS estimate is N/A, implying a prospective dividend yield of N/A.
Current consensus EPS estimate suggests the PER is 23.3.

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

MLX    METALS X LIMITED

Tin – Overnight Price: $1.53

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

Canaccord Genuity maintains a Buy rating for Metals X with a $1.85 target price following a June quarter 2026 operational update exceeding forecasts across production, costs, and earnings.

Tin production reached 2.8kt to beat estimates by 9% despite a sequential -3% decrease in mined grades and weaker recoveries.

Higher realised tin pricing drove a 3% increase in quarterly revenue to $207m and lifted earnings to $126m.

The company finished the period with a $374m cash balance after executing strategic investments in Stellar Resources and Tanami Gold.

The analyst increases 2026 earnings estimates by 4% on the strong quarterly result, noting the Rentails project front-end engineering design remains on track for completion in late 2026.

This report was published on July 28, 2026.

Target price is $1.85 Current Price is $1.53 Difference: $0.315
If MLX meets the Canaccord Genuity target it will return approximately 21% (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

MXI    MAXIPARTS LIMITED

Automobiles & Components – Overnight Price: $1.50

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

Canaccord Genuity maintains a Buy rating for MaxiPARTS with its target price increased to $2.56 from $2.50 following an upgraded FY26 underlying net profit before tax guidance of $14.2m.

Revenues reached $274.4m, up 3% on the prior corresponding period, as management successfully navigated a temporary industry slowdown caused by Middle East conflicts and elevated diesel prices earlier in 2026.

Balance sheet strength significantly improved with FY26 net cash guided at $7m, supported by strong inventory program execution delivering a 115% cash conversion rate.

Executive leadership updates include the appointment of Anu Parikh as chief financial officer and Edie Hanaphy as general manager of operations.

Driven by robust cash flow generation, the analyst increases the dividend payout ratio to 55%, forecasting fully franked dividends of 9.75c for FY26, 11.0c for FY27, and 13.25c for FY28.

This report was published on July 24, 2026.

Target price is $2.56 Current Price is $1.50 Difference: $1.055
If MXI meets the Canaccord Genuity target it will return approximately 70% (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 9.75 cents and EPS of 17.70 cents.
At the last closing share price the estimated dividend yield is 6.48%.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 8.50.

Forecast for FY27:

Canaccord Genuity forecasts a full year FY27 dividend of 11.00 cents and EPS of 20.00 cents.
At the last closing share price the estimated dividend yield is 7.31%.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 7.52.

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

PC2    PC GOLD LIMITED

Gold & Silver – Overnight Price: $0.91

Canaccord Genuity rates ((PC2)) as Speculative Buy (1) –

Canaccord Genuity maintains a Speculative Buy rating for PC Gold with a $2.15 target price following an interim mineral resource update for the Spring Hill gold project in the Northern Territory.

Total resources expanded 84% to 43.6Mt at 1.1g/t gold for 1.51Moz, including an Indicated resource component of 1.0Moz and an initial high-grade Link Zone resource of 194koz.

A 40,000m drilling program is currently underway with four rigs to support a subsequent resource update planned for the December quarter of 2026.

A pre-feasibility study incorporating open pit and underground mining options for a standalone 3Mtpa processing plant remains on track for completion late in 2026.

The analyst considers the increased resource validation for modelled production assumptions of 112kozpa over a seven-year mine life, supported by granted tenure and established regional infrastructure.

This report was published on July 29, 2026.

Target price is $2.15 Current Price is $0.91 Difference: $1.24
If PC2 meets the Canaccord Genuity target it will return approximately 136% (excluding dividends, fees and charges).

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

PEN    PENINSULA ENERGY LIMITED

Uranium – Overnight Price: $0.23

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

Canaccord Genuity maintains a Speculative Buy rating for Peninsula Energy with its target price lowered to $0.80 from $0.90 following the withdrawal of 2026 production guidance.

Persistent wellfield gassing issues and processing facility downtime at the MU-4 mine unit at the Lance project in the US prompted management to reprioritise resources away from earlier uneconomic mine units.

To reflect lower near-term output, the analyst downgrades production forecasts to 100klbs for 2026 and 400klbs for 2027, down from previous estimates of 200klbs and 550klbs respectively.

Net cash stood at US$47.1m as at 17 July following a US$56m funding package, providing a balance sheet buffer against an expected monthly cash burn of US$4m to US$5m.

Commentary concludes strategic value remains supported by the large scale of the 58Mlb resource, a 2.0Mlb/yr central processing facility, and an ongoing operational transition to an owner-operator drilling model aimed at reducing wellfield development costs.

This report was published on July 23, 2026.

Target price is $0.80 Current Price is $0.23 Difference: $0.565
If PEN meets the Canaccord Genuity target it will return approximately 240% (excluding dividends, fees and charges).

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

PPS    PRAEMIUM LIMITED

Wealth Management & Investments – Overnight Price: $0.70

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

Canaccord Genuity maintains a Buy rating for Praemium with its target price lowered to $1.20 from $1.40 following a fourth-quarter update showing platform net inflows of $316m.

Full-year FY26 net inflows reached $1.9b, representing a 130% increase on the prior corresponding period and driving total platform funds under administration up 11% to $34bn.

Legacy transition drags continued to ease as adviser-related outflows reduced to -$122m, down from -$149m in the preceding quarter.

High-net-worth portfolio momentum remained strong within the Scope-plus segment, where funds under administration grew 31% to $43.9bn alongside multi-year contract renewals with Morgan Stanley Wealth Management and JB Were.

Integration of the Technotia acquisition supports $9m in annualised cost savings, with the analyst reducing the target multiple to 18.2x EV/EBITDA to align with broader market contractions across peer platforms.

This report was published on July 23, 2026.

Target price is $1.20 Current Price is $0.70 Difference: $0.5
If PPS meets the Canaccord Genuity target it will return approximately 71% (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

PSC    PROSPECT RESOURCES LIMITED

New Battery Elements – Overnight Price: $0.23

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

Canaccord Genuity maintains a Speculative Buy rating for Prospect Resources with a $0.60 target price following thick, high-grade drill results extending the Nyungu Central deposit at the Mumbezhi copper project.

Assays outside the existing 154.4Mt resource returned intercepts including 44.0m at 0.60% copper from 270m and 17.0m at 0.57% copper from 186m.

Assays remain outstanding for six holes of the Phase 3 program, with a 6,000m infill drilling campaign scheduled to commence in late July.

Located 25km from First Quantum’s Sentinel mine, simple flotation metallurgical testing achieved 96.2% copper recovery, enhancing standalone or toll-treatment development optionality.

The analyst views the asset as strategically valuable and undervalued against resource expansion trajectories ahead of a Scoping Study expected in late 2026 or early 2027.

This report was published on July 29, 2026.

Target price is $0.60 Current Price is $0.23 Difference: $0.365
If PSC meets the Canaccord Genuity target it will return approximately 155% (excluding dividends, fees and charges).

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

RHC    RAMSAY HEALTH CARE LIMITED

Healthcare services – Overnight Price: $44.26

Jarden rates ((RHC)) as Overweight (2) –

Jarden maintains an Overweight rating for Ramsay Health Care with its target price increased to $47.60 from $45.20 following the acquisition of National Capital Private Hospital for a net $251m.

Settling in the first quarter of FY27, the transaction is funded through existing debt facilities, maintaining gearing below the targeted 2.5x threshold in FY27.

The co-located asset broadens the acuity mix whilst enhancing operating margins, return on invested capital, and earnings per share.

Reflecting updated UK National Health Service and foreign exchange assumptions alongside the asset incorporation from mid-August, EPS estimates are revised 1% in FY26, 5% in FY27, and -2% in FY28.

The analyst views the strategic expansion as securing a premium asset capable of driving durable multi-year operational performance across the portfolio.

This report was published on July 29, 2026.

Target price is $47.60 Current Price is $44.26 Difference: $3.34
If RHC meets the Jarden target it will return approximately 8% (excluding dividends, fees and charges).
Current consensus price target is $40.36, suggesting downside of -8.2%(ex-dividends)

Forecast for FY26:

Current consensus EPS estimate is 134.1, implying annual growth of 4430.4%.
Current consensus DPS estimate is 81.6, implying a prospective dividend yield of 1.9%.
Current consensus EPS estimate suggests the PER is 32.8.

Forecast for FY27:

Current consensus EPS estimate is 162.0, implying annual growth of 20.8%.
Current consensus DPS estimate is 101.0, implying a prospective dividend yield of 2.3%.
Current consensus EPS estimate suggests the PER is 27.1.

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

RRL    REGIS RESOURCES LIMITED

Gold & Silver – Overnight Price: $6.20

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

Canaccord Genuity maintains a Buy rating for Regis Resources with a $6.70 target price following a June quarter 2026 operational update delivering 101.5koz in gold production.

Group all-in sustaining costs increased 16% sequentially to $3,244/oz due to elevated diesel prices and non-cash stockpile costs, though full-year FY26 production of 379koz successfully met the upper end of management guidance.

Underlying free cash flow reached $200m for the quarter prior to -$144m in dividend distributions, building total cash and bullion reserves to $1.18bn.

Management targets FY27 production between 360koz and 400koz at all-in sustaining costs of $2,990/oz to $3,390/oz alongside -$280m to -$305m in growth capital expenditure.

Incorporating an expected tax catch-up payment in the December quarter of 2026 reduces forecast FY27 underlying free cash flow to $212m, with the analyst highlighting $1.5bn in total liquidity as ample balance sheet capacity to fund organic growth.

This report was published on July 27, 2026.

Target price is $6.70 Current Price is $6.20 Difference: $0.5
If RRL meets the Canaccord Genuity target it will return approximately 8% (excluding dividends, fees and charges).
Current consensus price target is $7.65, suggesting upside of 24.4%(ex-dividends)

Forecast for FY26:

Current consensus EPS estimate is 101.3, implying annual growth of 200.9%.
Current consensus DPS estimate is 30.8, implying a prospective dividend yield of 5.0%.
Current consensus EPS estimate suggests the PER is 6.1.

Forecast for FY27:

Current consensus EPS estimate is 118.3, implying annual growth of 16.8%.
Current consensus DPS estimate is 29.4, implying a prospective dividend yield of 4.8%.
Current consensus EPS estimate suggests the PER is 5.2.

Market Sentiment: 0.7
All consensus data are updated until yesterday. FNArena’s consensus calculations require a minimum of three sources

SFR    SANDFIRE RESOURCES LIMITED

Copper – Overnight Price: $18.62

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

Canaccord Genuity maintains a Buy rating for Sandfire Resources with its target price increased to $22.00 from $21.50 following a strong June quarter 2026 performance.

Group copper-equivalent production reached 47.6kt, surpassing expectations as operational disruptions at Matsa resolved and higher-grade ore from the A4 open pit drove a 59% sequential jump in copper production at Motheo.

The operational rebound supported a 362% quarterly expansion in net cash to US$353m, allowing the company to fully clear outstanding debt ahead of FY27.

To align with management guidance, the analyst increases FY26 EBITDA forecasts by 4% while forecasting a modest 5.0c unfranked final dividend.

The Kalkaroo project continues to advance as a key future growth pillar with a 130km drilling campaign underway, while FY27 copper-equivalent production guidance of 158kt presents a reliable operational outlook, the report concludes.

This report was published on July 24, 2026.

Target price is $22.00 Current Price is $18.62 Difference: $3.38
If SFR meets the Canaccord Genuity target it will return approximately 18% (excluding dividends, fees and charges).
Current consensus price target is $18.55, suggesting upside of 0.1%(ex-dividends)

Forecast for FY26:

Current consensus EPS estimate is 118.6, implying annual growth of N/A.
Current consensus DPS estimate is 21.3, implying a prospective dividend yield of 1.1%.
Current consensus EPS estimate suggests the PER is 15.6.

Forecast for FY27:

Current consensus EPS estimate is 169.7, implying annual growth of 43.1%.
Current consensus DPS estimate is 52.0, implying a prospective dividend yield of 2.8%.
Current consensus EPS estimate suggests the PER is 10.9.

This company reports in USD. All estimates have been converted into AUD by FNArena at present FX values.
Market Sentiment: 0.2
All consensus data are updated until yesterday. FNArena’s consensus calculations require a minimum of three sources

SS1    SUN SILVER LIMITED

Gold & Silver – Overnight Price: $0.93

Canaccord Genuity rates ((SS1)) as Speculative Buy (1) –

Canaccord Genuity maintains a Speculative Buy rating for Sun Silver with a $2.85 target price following the consolidation of land surrounding the Maverick silver project in Nevada.

The acquisition of the Bayan Springs North project alongside additional claim staking expands tenure across 15km of prospective strike, securing control over a newly identified geochemical target 4.5km north of the current deposit.

Transaction terms include -$150k on completion, -$150k after 12 months, and a contingent -$500k payment upon meeting specific drill intersections, alongside a 1.0% royalty participation.

An updated resource estimate is scheduled for the December quarter 2026 ahead of a Scoping Study expected in early 2027.

High leverage to silver prices underpins the investment thesis, with the analyst viewing the expanded land holding as key to unlocking potential extensions to the existing 539Moz silver-equivalent resource.

This report was published on July 27, 2026.

Target price is $2.85 Current Price is $0.93 Difference: $1.925
If SS1 meets the Canaccord Genuity target it will return approximately 208% (excluding dividends, fees and charges).

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

STN    SATURN METALS LIMITED

Gold & Silver – Overnight Price: $0.42

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

Canaccord Genuity maintains a Speculative Buy rating for Saturn Metals with a $0.95 target price following the grant of three exploration licences covering the Aquarius gold prospect.

The newly granted tenure, including former Sumitomo-held ground, enables systematic follow-up drilling across a 26.5km gold trend located 30km southeast of the 2.83Moz Apollo Hill resource.

The analyst views the approval as a highly anticipated permitting outcome removing a key constraint on a compelling regional exploration opportunity, whilst providing meaningful news flow alongside an ongoing Definitive Feasibility Study and reserve update.

Historical exploration at Aquarius has demonstrated broad gold intercepts, raising the potential for the prospect to evolve into a second mineralised centre complementing Apollo Hill.

The valuation models a 14-year, 10Mtpa open-pit heap leach operation delivering average recovered production of 96kozpa over the first 12 years.

This report was published on July 29, 2026.

Target price is $0.95 Current Price is $0.42 Difference: $0.53
If STN meets the Canaccord Genuity target it will return approximately 126% (excluding dividends, fees and charges).

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

SX2    SOUTHERN CROSS GOLD CONSOLIDATED LIMITED CHEES DEPOSITORY INTEREST REPR 1

Gold & Silver – Overnight Price: $9.28

Shaw and Partners rates ((SX2)) as Buy (1) –

Shaw and Partners maintains a Buy rating for Southern Cross Gold with a $14.40 target price following encouraging step-out drilling results at the Sunday Creek project in Victoria.

Five step-out drill holes extended known mineralisation 300m west into the Christina prospect, highlighted by near-continuous intercepts including 481m at 0.9g/t gold.

Shallow antimony intercepts were also returned, expanding the critical mineral footprint across the western tenure.

The analyst considers Christina capable of matching the scale and grade of established deposits like Golden Dyke and Rising Sun, supporting potential expansions to planned site processing capacity.

Eleven drill rigs remain active on site ahead of an anticipated maiden mineral resource estimate in the first quarter of 2027.

This report was published on July 29, 2026.

Target price is $14.40 Current Price is $9.28 Difference: $5.12
If SX2 meets the Shaw and Partners target it will return approximately 55% (excluding dividends, fees and charges).
The company’s fiscal year ends in May.

Forecast for FY26:

Shaw and Partners forecasts a full year FY26 dividend of 0.00 cents and EPS of minus 0.60 cents.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is minus 1546.67.

Forecast for FY27:

Shaw and Partners forecasts a full year FY27 dividend of 0.00 cents and EPS of minus 0.20 cents.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is minus 4640.00.

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

TCG    TURACO GOLD LIMITED

Gold & Silver – Overnight Price: $0.61

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

Canaccord Genuity maintains a Speculative Buy rating for Turaco Gold with a $1.35 target price following deep drilling results beneath the Woulo Woulo deposit at the Afema project in Cote d’Ivoire.

Intersects extended mineralisation 250m vertically below previous drilling and beneath the current Pre-Feasibility Study pit shell, headlined by 100m at 1.06g/t gold from 495m.

Results follow a recent study outlining a maiden Ore Reserve of 1.9Moz supporting average production of 196kozpa over a 10-year mine life.

Higher-grade intervals within broad deep intercepts demonstrate potential for shoot development suitable for future underground evaluation.

The analyst considers ongoing resource growth across regional targets a key driver capable of enhancing mine life, grade scheduling, and overall project economics ahead of a Definitive Feasibility Study targeted for mid-2027.

This report was published on July 29, 2026.

Target price is $1.35 Current Price is $0.61 Difference: $0.735
If TCG meets the Canaccord Genuity target it will return approximately 120% (excluding dividends, fees and charges).
Current consensus price target is $1.09, suggesting upside of 79.2%(ex-dividends)
The company’s fiscal year ends in December.

Forecast for FY26:

Canaccord Genuity forecasts a full year FY26 dividend of 0.00 cents.

How do these forecasts compare to market consensus projections?

Current consensus EPS estimate is -1.6, 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:

Canaccord Genuity forecasts a full year FY27 dividend of 0.00 cents.

How do these forecasts compare to market consensus projections?

Current consensus EPS estimate is -1.1, 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

VAU    VAULT MINERALS LIMITED

Gold & Silver – Overnight Price: $4.95

Moelis rates ((VAU)) as Buy (1) –

Moelis maintains a Buy rating for Vault Minerals with a $7.30 target price following a fourth-quarter production update delivering 89.3koz of gold output.

Full-year FY26 production reached 336.5koz at an all-in sustaining cost of $2,924/oz, meeting production guidance while finishing the period with $842m in cash and bullion.

Commentary suggests Leonora stood out during the quarter, producing 48.9koz at an all-in sustaining cost of $2,556/oz as stronger underground grades and increased high-grade open-pit feed lifted output 13% sequentially.

Mount Monger and Deflector contributed fourth-quarter production of 21.3koz and 19.1koz at all-in sustaining costs of $3,143/oz and $3,761/oz, respectively.

The analyst expects the proposed corporate combination with Genesis Minerals ((GMD)), targeted for implementation in the second quarter of FY27, to dominate investment attention as standalone guidance is revisited to capture operational synergies across the combined portfolio.

This report was published on July 30, 2026.

Target price is $7.30 Current Price is $4.95 Difference: $2.35
If VAU meets the Moelis target it will return approximately 47% (excluding dividends, fees and charges).
Current consensus price target is $7.13, suggesting upside of 43.0%(ex-dividends)

Forecast for FY26:

Current consensus EPS estimate is 38.8, implying annual growth of 71.3%.
Current consensus DPS estimate is 17.7, implying a prospective dividend yield of 3.5%.
Current consensus EPS estimate suggests the PER is 12.9.

Forecast for FY27:

Current consensus EPS estimate is 70.6, implying annual growth of 82.0%.
Current consensus DPS estimate is 20.3, implying a prospective dividend yield of 4.1%.
Current consensus EPS estimate suggests the PER is 7.1.

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

WGX    WESTGOLD RESOURCES LIMITED

Gold & Silver – Overnight Price: $4.75

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

Canaccord Genuity retains a Buy rating for Westgold Resources with its target price lowered to $7.20 from $7.25 following the release of the June quarter 2026 production report.

Group gold production reached 99koz at an all-in sustaining cost of $3,220/oz inclusive of ore purchase agreement expenses, driving an underlying cash and bullion build of $72m.

The Murchison operations outperformed expectations as the Bluebird underground mine approached a 1.2Mtpa target run rate, offsetting deferred toll treatment parcels at the Beta Hunt asset in the Southern Goldfields.

The balance sheet remains debt-free with $1.54bn in available liquidity, supporting ongoing share buybacks ahead of an updated three-year outlook scheduled for August 2026.

The analyst modestly reduces FY27 free cash flow forecasts by 1% to $398m while viewing current production estimates as conservative relative to broader market consensus.

This report was published on July 23, 2026.

Target price is $7.20 Current Price is $4.75 Difference: $2.45
If WGX meets the Canaccord Genuity target it will return approximately 52% (excluding dividends, fees and charges).
Current consensus price target is $7.47, suggesting upside of 58.2%(ex-dividends)

Forecast for FY26:

Current consensus EPS estimate is 63.3, implying annual growth of 1544.2%.
Current consensus DPS estimate is 6.0, implying a prospective dividend yield of 1.3%.
Current consensus EPS estimate suggests the PER is 7.5.

Forecast for FY27:

Current consensus EPS estimate is 80.7, implying annual growth of 27.5%.
Current consensus DPS estimate is 12.3, implying a prospective dividend yield of 2.6%.
Current consensus EPS estimate suggests the PER is 5.8.

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

WZR    WISR LIMITED

Business & Consumer Credit – Overnight Price: $0.03

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

Shaw and Partners maintains a Buy rating for Wisr with a $0.07 target price following a strong June quarter trading update featuring loan originations of $198m.

Fourth-quarter originations grew 41% on the prior corresponding period, while average credit scores remained stable in the prime range at 807.

The company achieved maiden full-year FY26 cash net profit after tax of $1m, exceeding break-even projections on expanding loan balances reaching $1.0bn.

Management targets FY27 cash profit of at least $5m, whereas the analyst forecasts $7m supported by flat headcount expectations and projected loan book growth to $1.35bn.

Modest model adjustments reflecting higher loan prepayments leave long-term valuation upside intact, placing the non-bank lender on a projected FY28 price-to-earnings multiple of 2.6x.

This report was published on July 29, 2026.

Target price is $0.07 Current Price is $0.03 Difference: $0.041
If WZR meets the Shaw and Partners target it will return approximately 141% (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 0.10 cents.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 29.00.

Forecast for FY27:

Shaw and Partners forecasts a full year FY27 dividend of 0.00 cents and EPS of 0.40 cents.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 7.25.

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

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