Daily Market Reports | Aug 04 2026
This story features AMP LIMITED, and other companies.
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An additional news report on the recommendation, valuation, forecast and opinion changes and updates for ASX-listed equities.
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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)
AMP B4P BET BNZ BOE (2) BTL (2) BTR CIA CNI CSC CYL DRO EMR EXR FFM GDF GGP GL1 ILA IOD KCN (2) LM8 LRK LTR MEI MIN MMI MYX NCK NST OBM PDI PLS (2) PNR PRU RFF RMS (2) RSG SLD SLS STM VGL WDS WEB
AMP AMP LIMITED
Wealth Management & Investments – Overnight Price: $2.12
Jarden rates ((AMP)) as Neutral (3) –
Jarden maintains a Neutral rating for AMP with its target price increased to $2.30 from $2.00 following an analysis of statutory filings for China Life Pension Company.
The broker explains China Life Pension Company represents a capital-light fee business exposed to a maturing pension system projected to compound at 14% to FY30 in Pillar 2.
Chinese pension penetration sitting at 15% of gross domestic product offers significant expansion room relative to mature markets exceeding 150%.
Upward revisions to FY30 earnings per share estimates of 11% sit 12% above consensus projections, with total associates anticipated to drive over 40% of group net profit after tax by FY30.
Value attributed to Chinese associates reaches 60c per share within a sum-of-the-parts valuation applying a 13x price-to-earnings multiple, though a recent 36% share price rally prompts the analyst to maintain its neutral rating.
This report was published on July 31, 2026.
Target price is $2.30 Current Price is $2.12 Difference: $0.18
If AMP meets the Jarden target it will return approximately 8% (excluding dividends, fees and charges).
Current consensus price target is $2.11, suggesting downside of -2.0%(ex-dividends)
Forecast for FY26:
Current consensus EPS estimate is 13.1, implying annual growth of 149.0%.
Current consensus DPS estimate is 4.0, implying a prospective dividend yield of 1.9%.
Current consensus EPS estimate suggests the PER is 16.4.
Forecast for FY27:
Current consensus EPS estimate is 14.0, implying annual growth of 6.9%.
Current consensus DPS estimate is 4.0, implying a prospective dividend yield of 1.9%.
Current consensus EPS estimate suggests the PER is 15.4.
Market Sentiment: 0.7
All consensus data are updated until yesterday. FNArena’s consensus calculations require a minimum of three sources
B4P BEFOREPAY GROUP LIMITED
Diversified Financials – Overnight Price: $1.52
Shaw and Partners rates ((B4P)) as Buy (1) –
Shaw and Partners maintains a Buy rating for Beforepay Group with its target price increased to $2.90 from $2.70 following a quarterly update revealing the broad implementation of a 2% monthly interest charge across nearly all Pay Advance loans.
The analyst projects this price increase will generate approximately $12m in annualised incremental revenue, flowing directly to the bottom line given the company’s tax position.
Despite the pricing adjustment, demand destruction appears minimal, with active users growing 2.6% and average cash advances rising 16% compared to the prior corresponding period.
Leveraging a new $100m debt facility at lower interest costs, the personal loan segment grew originations to $7.2m in the June quarter, which the broker expects will scale to a $20m book by the end of FY27.
Following the removal of -$0.35 in valuation attributed to Carrington Labs, the revised target price reflects a 15%-20% premium to the small-cap financial sector.
This report was published on July 31, 2026.
Target price is $2.90 Current Price is $1.52 Difference: $1.38
If B4P meets the Shaw and Partners target it will return approximately 91% (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 15.10 cents.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 10.07.
Forecast for FY27:
Shaw and Partners forecasts a full year FY27 dividend of 0.00 cents and EPS of 38.60 cents.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 3.94.
All consensus data are updated until yesterday. FNArena’s consensus calculations require a minimum of three sources
BET BETMAKERS TECHNOLOGY GROUP LIMITED
Gaming – Overnight Price: $0.17
Canaccord Genuity rates ((BET)) as Buy (1) –
Canaccord Genuity maintains a Buy rating for Betmakers Technology with its target price increased to $0.25 from $0.24 following a strong fourth-quarter FY26 update demonstrating expanding operational leverage.
Fourth-quarter adjusted EBITDA reached $4.5m to beat broker projections of $3.4m, underpinned by solid cost discipline and expanding gross margins of 68.5%.
Operating cash flow generated $3.2m during the quarter, lifting closing cash balances to $15.6m as at June 2026.
Expansion into iGaming via two new customer agreements provides an entry into adjacent growth markets, while recent large customer deployments are expected to drive ongoing adjusted EBITDA growth.
Minor upward revisions to long-term valuation models prompt the analyst to reiterate a positive stance as annualised adjusted EBITDA approaches management’s $20m 1H27 milestone target.
This report was published on August 3, 2026.
Target price is $0.25 Current Price is $0.17 Difference: $0.085
If BET meets the Canaccord Genuity target it will return approximately 52% (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
BNZ BENZ MINING CORP.
Gold & Silver – Overnight Price: $3.89
Canaccord Genuity rates ((BNZ)) as Speculative Buy (1) –
Canaccord Genuity maintains a Speculative Buy rating for Benz Mining with a $6.00 target price following high-grade infill drilling results from the Icon deposit at the Glenburgh Gold Project in Western Australia.
Infill drilling intersected broad high-grade intervals including 41m at 14.5g/t gold from 260m and 75m at 2.3g/t gold from 253m.
Tighter drill spacing confirms repeating north-east-plunging fold hinge structures across the deposit, establishing structural connectivity between previously discrete mineralised zones ahead of a maiden resource targeted for 1H27.
Conceptual project modelling outlines potential for a 6Mtpa operation producing 250kozpa over a 15-year mine life based on a diluted 4.0Moz inventory.
Applying a -10% discount rate and 50% risking factor to an unfunded development scenario, the analyst considers ongoing hinge zone identification key for resource conversion and growth.
This report was published on August 3, 2026.
Target price is $6.00 Current Price is $3.89 Difference: $2.11
If BNZ meets the Canaccord Genuity target it will return approximately 54% (excluding dividends, fees and charges).
All consensus data are updated until yesterday. FNArena’s consensus calculations require a minimum of three sources
BOE BOSS ENERGY LIMITED
Uranium – Overnight Price: $1.22
Canaccord Genuity rates ((BOE)) as Speculative Buy (1) –
Canaccord Genuity maintains a Speculative Buy rating for Boss Energy with its target price lowered to $2.50 from $2.55 following adjustments to throughput assumptions ahead of a wide-spaced wellfield feasibility study expected at the end of August 2026.
Fourth-quarter operational performance saw cash and liquid assets grow by $13m to $207m with zero debt, providing a strong liquidity buffer to self-fund the transition alongside 1.58Mlbs in inventory.
September quarter output from the B6 wellfield is expected to deliver approximately 340klbs, representing a -6% sequential reduction before new wellfields EKT1 and EKT2 commence leaching across FY27.
Production forecasts for the 30%-owned Alta Mesa project were reduced due to permitting delays holding back new wellfield development.
Lower throughput and revised cost assumptions drive a net reduction to FY27 EBITDA estimates, though the analyst considers high uranium term prices and ultra-high permeability at Greater Honeymoon key factors underpinning long-term project economics.
This report was published on August 2, 2026.
Target price is $2.50 Current Price is $1.22 Difference: $1.28
If BOE meets the Canaccord Genuity target it will return approximately 105% (excluding dividends, fees and charges).
Current consensus price target is $1.56, suggesting upside of 23.6%(ex-dividends)
The company’s fiscal year ends in June.
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 4.0, 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 31.5.
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 15.2, implying annual growth of 280.0%.
Current consensus DPS estimate is N/A, implying a prospective dividend yield of N/A.
Current consensus EPS estimate suggests the PER is 8.3.
Market Sentiment: 0.5
All consensus data are updated until yesterday. FNArena’s consensus calculations require a minimum of three sources
Shaw and Partners rates ((BOE)) as Buy (1) –
Shaw and Partners maintains a Buy rating for Boss Energy with a $3.08 target price following fourth-quarter FY26 operations in line with revised expectations.
Fourth-quarter uranium production reached 362klb, bringing full-year FY26 output to 1.41Mlb to meet revised guidance of 1.4Mlb to 1.45Mlb at an all-in sustaining cost of $61/lb.
Quarterly sales of 325klb generated $34.8m in revenue at an average realised price of US$75/lb, lifting cash and liquid asset reserves to $207m with zero debt.
Management expects to release a revised Honeymoon feasibility study in August 2026 evaluating wider wellfield spacing to optimise leach residence times and ore recovery.
Unchanged operational model estimates assume FY27 production of 1.7Mlb at unit cash costs of US$47/lb, with the analyst maintaining a long-term bullish structural deficit thesis for global uranium supply.
This report was published on July 31, 2026.
Target price is $3.08 Current Price is $1.22 Difference: $1.86
If BOE meets the Shaw and Partners target it will return approximately 152% (excluding dividends, fees and charges).
Current consensus price target is $1.56, suggesting upside of 23.6%(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 7.90 cents.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 15.44.How do these forecasts compare to market consensus projections?
Current consensus EPS estimate is 4.0, 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 31.5.
Forecast for FY27:
Shaw and Partners forecasts a full year FY27 dividend of 0.00 cents and EPS of 30.40 cents.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 4.01.How do these forecasts compare to market consensus projections?
Current consensus EPS estimate is 15.2, implying annual growth of 280.0%.
Current consensus DPS estimate is N/A, implying a prospective dividend yield of N/A.
Current consensus EPS estimate suggests the PER is 8.3.
Market Sentiment: 0.5
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 an operational update highlighting progress towards maiden gas sales.
The Carpentaria-5H well appraisal delivered a 6.7TJ/d exit rate over the June quarter, exceeding prior tests and demonstrating a flatter decline curve which suggests potential upside to modelled first-year declines of -70% and the independent 2C recoverable gas estimate of 10PJ.
The analyst considers this result an important de-risking milestone ahead of commissioning the Carpentaria Pilot Plant by year end.
June quarter capital expenditure reached $8.7m, closing the period with a net cash balance of $44.8m following a $71m placement and $15.4m research and development tax offset.
Supported by $124.9m in total liquidity, including an undrawn $42.5m Macquarie Bank ((MQG)) midstream facility expected to cover the remaining $40m required to reach first gas, the broker views the company as fully funded through 2026.
This report was published on August 2, 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
Research as a Service (RaaS) rates ((BTL)) as No Rating (-1) –
Beetaloo Energy Australia has secured exclusivity over 185ha, about 25km south-east of Darwin’s centre for a gas generation project in support of “hyper-scale” data centres, with supply potential of up to 200TJ/d.
Research as a Service (RaaS) notes the project is conceptual at this stage, with 12 months to define a plan, although the MOU with Halliburton adds an important name to the concept.
The analysts point out commercial production from the Beetaloo Basin was conceptual just as recently as 2-3 years ago and first gas is a transforming event and commercial game changer.
Valuation is adjusted at the margin to reflect cash in hand, now at $0.86-$1.24/share with a midpoint of $0.95, compared with $0.87-$1.22/share with a midpoint of $0.94.
Research as a Service (RaaS) research does not carry any targets, ratings or recommendations. Investors can draw conclusions from valuations and commentary.
This report was published on August 3, 2026.
Target price is $0.95 Current Price is $0.23 Difference: $0.725
If BTL meets the Research as a Service (RaaS) target it will return approximately 322% (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
BTR BRIGHTSTAR RESOURCES LIMITED
Gold & Silver – Overnight Price: $0.35
Shaw and Partners rates ((BTR)) as Buy (1) –
Shaw and Partners maintains a Buy rating for Brightstar Resources with a $1.23 target price following a June quarter operational update marking its transition from gold producer to developer.
Mined ore previously sold to Genesis Minerals ((GMD)) will be stockpiled ahead of Goldfields plant commissioning in the fourth quarter of FY27, supported by a final $24m sales reconciliation taking total recovered gold revenues to $138m.
Plant construction for the 1.5Mtpa Laverton mill remains on schedule under contractor GR Engineering ((GNG)), backed by $122m in cash reserves and $161m in undrawn bond proceeds for total available liquidity of $283m.
Mine readiness activities continue across Second Fortune and Fish underground deposits alongside open pit developments planned for late 2026, while a pre-feasibility study for the Sandstone project remains expected in late 2026.
The analyst considers project delivery risks relatively modest for Western Australian gold operations, viewing the development pipeline as offering a realistic path to 255kozpa in annual production by FY31.
This report was published on July 31, 2026.
Target price is $1.23 Current Price is $0.35 Difference: $0.875
If BTR meets the Shaw and Partners target it will return approximately 246% (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 9.86.
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 10.14.
All consensus data are updated until yesterday. FNArena’s consensus calculations require a minimum of three sources
CIA CHAMPION IRON LIMITED
Iron Ore – Overnight Price: $3.31
Jarden rates ((CIA)) as Upgrade to Overweight from Neutral (2) –
Jarden upgrades to an Overweight rating for Champion Iron with its target price lowered to $4.60 from $5.00 following June quarter operations affected by Direct Reduction Pellet Feed transition timing.
EBITDA reached CAD32.8m against a net loss of -CAD41.5m, while Bloom Lake production of 3.5Mwmt exceeded broker expectations despite sales of 3.1Mdmt falling -11% short due to rail shutdowns, shipment sequencing, and deliberate contract withdrawals.
Unit operating costs of CAD83.4/dmt aligned with forecasts, whereas sustaining capital expenditure reached -CAD65.7m.
Forecast FY27 EBITDA is reduced -45% to CAD234m, driven by a 10% revenue reduction on lower premium realisation and higher freight expenses.
Expecting subsequent FY28 and FY29 EBITDA cuts of -11% and -6% to be progressively offset by processing plant ramp-up, the analyst retains a positive long-term view.
This report was published on July 31, 2026.
Target price is $4.60 Current Price is $3.31 Difference: $1.29
If CIA meets the Jarden target it will return approximately 39% (excluding dividends, fees and charges).
This company reports in CAD. All estimates have been converted into AUD by FNArena at present FX values.
Market Sentiment: 0.5
All consensus data are updated until yesterday. FNArena’s consensus calculations require a minimum of three sources
CNI CENTURIA CAPITAL GROUP
Diversified Financials – Overnight Price: $1.47
Jarden rates ((CNI)) as Upgrade to Buy from Overweight (1) –
Jarden upgrades its rating for Centuria Capital to Buy with its target price lowered to $2.06 from $2.15 following a share price sell-off deemed an overreaction to platform exposure risks.
Near-term platform redemptions tied to developer exposure prompt a -3%-5% reduction in operating earnings per share estimates across FY27 to FY29.
Assets under management face a forecast -10% decline during 1H27, though monthly redemptions capped at -2% should see platform balances stabilise by FY28.
Analysis of six underlying loans indicates only a single position maintains meaningful residual construction exposure, commentary highlights, mitigating potential capital loss risks.
Considering the stock drop of $0.28 per share exceeds the entire revised valuation for platform capital of -$0.18 per share, the analyst considers current pricing excessively discounted.
This report was published on July 30, 2026.
Target price is $2.06 Current Price is $1.47 Difference: $0.595
If CNI meets the Jarden target it will return approximately 41% (excluding dividends, fees and charges).
Current consensus price target is $2.04, suggesting upside of 38.6%(ex-dividends)
Forecast for FY26:
Current consensus EPS estimate is 13.7, implying annual growth of 38.0%.
Current consensus DPS estimate is 10.4, implying a prospective dividend yield of 7.1%.
Current consensus EPS estimate suggests the PER is 10.7.
Forecast for FY27:
Current consensus EPS estimate is 14.1, implying annual growth of 2.9%.
Current consensus DPS estimate is 11.0, implying a prospective dividend yield of 7.5%.
Current consensus EPS estimate suggests the PER is 10.4.
Market Sentiment: 0.2
All consensus data are updated until yesterday. FNArena’s consensus calculations require a minimum of three sources
CSC CAPSTONE COPPER CORP.
Copper – Overnight Price: $13.63
Moelis rates ((CSC)) as Buy (1) –
Moelis maintains a Buy rating for Capstone Copper with its target price increased to $16.40 from $15.90 following second-quarter FY26 group copper production of 51.8kt.
Group C1 cash costs landed at US$2.82/lb while quarterly EBITDA reached US$347m to beat market consensus expectations of US$339m.
Mantoverde volume fell short of broker projections, though solid site cost management helped offset operational headwinds.
Anticipation of stronger second-half output prompts minor upward revisions to full-year production expectations across core Chilean and North American operations.
The analyst considers the company a high-quality, globally diversified copper producer providing generalist investors with ideal exposure to the metal.
This report was published on August 3, 2026.
Target price is $16.40 Current Price is $13.63 Difference: $2.77
If CSC meets the Moelis target it will return approximately 20% (excluding dividends, fees and charges).
Current consensus price target is $17.18, suggesting upside of 25.5%(ex-dividends)
The company’s fiscal year ends in December.
Forecast for FY26:
Moelis forecasts a full year FY26 dividend of 0.00 cents and EPS of 56.30 cents.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 24.21.How do these forecasts compare to market consensus projections?
Current consensus EPS estimate is 77.9, 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 17.6.
Forecast for FY27:
Moelis forecasts a full year FY27 dividend of 0.00 cents and EPS of 83.30 cents.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 16.36.How do these forecasts compare to market consensus projections?
Current consensus EPS estimate is 124.7, implying annual growth of 60.1%.
Current consensus DPS estimate is N/A, implying a prospective dividend yield of N/A.
Current consensus EPS estimate suggests the PER is 11.0.
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
CYL CATALYST METALS LIMITED
Gold & Silver – Overnight Price: $5.76
Canaccord Genuity rates ((CYL)) as Buy (1) –
Canaccord Genuity maintains a Buy rating for Catalyst Metals with its target price increased to $11.60 from $11.45 following fourth-quarter FY26 gold production of 32koz at all-in sustaining costs of $2,734/oz.
Gold sales of 30koz at an average price of $6,492/oz generated revenue of $194m, driving quarterly underlying free cash flow to $56m.
Higher processing head grades up 25% sequentially to 2.9g/t gold supported full-year FY26 production reaching 104koz at all-in sustaining costs of $2,747/oz to achieve annual guidance.
Closing cash and bullion reserves expanded by $54m to $331m with zero debt, while initial stoping ore processing commenced from the K2 underground mine alongside advancing development at Trident.
Raised FY26 and FY27 earnings estimates reflecting operational reliability improvements prompted the broker to lift its valuation, with expanding production towards 200kozpa expected across key Western Australian deposits.
This report was published on August 3, 2026.
Target price is $11.60 Current Price is $5.76 Difference: $5.84
If CYL meets the Canaccord Genuity target it will return approximately 101% (excluding dividends, fees and charges).
Current consensus price target is $11.94, suggesting upside of 108.4%(ex-dividends)
The company’s fiscal year ends in June.
Forecast for FY26:
Canaccord Genuity forecasts a full year FY26 dividend of 0.00 cents and EPS of 74.90 cents.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 7.69.How do these forecasts compare to market consensus projections?
Current consensus EPS estimate is 85.7, implying annual growth of 85.9%.
Current consensus DPS estimate is N/A, implying a prospective dividend yield of N/A.
Current consensus EPS estimate suggests the PER is 6.7.
Forecast for FY27:
Canaccord Genuity forecasts a full year FY27 dividend of 0.00 cents and EPS of 99.20 cents.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 5.81.How do these forecasts compare to market consensus projections?
Current consensus EPS estimate is 125.6, implying annual growth of 46.6%.
Current consensus DPS estimate is 4.7, implying a prospective dividend yield of 0.8%.
Current consensus EPS estimate suggests the PER is 4.6.
Market Sentiment: 1.0
All consensus data are updated until yesterday. FNArena’s consensus calculations require a minimum of three sources
DRO DRONESHIELD LIMITED
Military & Defence – Overnight Price: $1.81
Canaccord Genuity rates ((DRO)) as Speculative Buy (1) –
Canaccord Genuity maintains a Speculative Buy rating for DroneShield with its target price lowered to $2.80 from $3.75 following a trading update highlighting lower-than-expected full-year revenue guidance and softer near-term margins.
First-half FY26 revenue of $126m and new full-year FY26 revenue guidance of $250m to $270m missed the broker’s and market consensus expectations.
While the company has secured $206m in FY26 committed revenue, first-half gross margins compressed to 60% due to an increased weighting of lower-margin third-party hardware.
The analyst notes the non-linear growth trajectory typical of defence procurement timelines, taking a conservative approach by lowering FY26 through FY28 EBITDA forecasts by 60%.
Despite earnings downgrades, the broker retains medium-term investment conviction supported by new software releases (RfAI-3), a new $23m European vehicle-mounted contract, and structural demand backed by rising allied defence budgets.
This report was published on August 3, 2026.
Target price is $2.80 Current Price is $1.81 Difference: $0.985
If DRO meets the Canaccord Genuity target it will return approximately 54% (excluding dividends, fees and charges).
Market Sentiment: 0.0
All consensus data are updated until yesterday. FNArena’s consensus calculations require a minimum of three sources
EMR EMERALD RESOURCES NL
Gold & Silver – Overnight Price: $5.40
Canaccord Genuity rates ((EMR)) as Buy (1) –
Canaccord Genuity maintains a Buy rating for Emerald Resources with a $6.90 target price following fourth-quarter FY26 gold production of 27koz at an all-in sustaining cost of US$818/oz from the Okvau operation.
Full-year FY26 production reached 100koz at an all-in sustaining cost of US$973/oz, while total cash and bullion reserves expanded to $458m with zero debt to support internal development funding.
Management established FY27 production guidance of 100koz to 115koz at an all-in sustaining cost between US$980/oz and US$1,080/oz at Okvau as key growth projects at Memot and Dingo Range advance towards development study releases.
Reflecting higher cost assumptions and lower output expectations, model updates drive a 9% reduction in forecast FY27 EBITDA to $437m.
The analyst considers the company well funded to transition towards a multi-mine producer generating over 300kozpa in future years.
This report was published on August 3, 2026.
Target price is $6.90 Current Price is $5.40 Difference: $1.5
If EMR meets the Canaccord Genuity target it will return approximately 28% (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 0.00 cents and EPS of 37.00 cents.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 14.59.
Forecast for FY27:
Canaccord Genuity forecasts a full year FY27 dividend of 0.00 cents and EPS of 45.00 cents.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 12.00.
Market Sentiment: -1.0
All consensus data are updated until yesterday. FNArena’s consensus calculations require a minimum of three sources
EXR ELIXIR ENERGY LIMITED
NatGas – Overnight Price: $0.06
Canaccord Genuity rates ((EXR)) as Speculative Buy (1) –
Canaccord Genuity maintains a Speculative Buy rating for Elixir Energy with its target price lowered to $0.20 from $0.25 following a fourth-quarter FY26 operational update covering progress across the Taroom Trough gas project.
Testing at the Lorelle-5H well confirmed an over-pressured reservoir gradient alongside low-impurity gas containing 1% or less carbon dioxide.
Initial cleanup recovered 32% of stimulation fluids while producing up to 1,700bbl/d of fluid and 3MMscf/d of gas through 4.5-inch casing prior to velocity string installation.
Following a brief soaking period designed to facilitate fluid migration away from the wellbore, flow testing is scheduled to resume in coming days.
Holding $11.1m in total liquidity supported by an anticipated $12m FY26 research and development tax incentive, the analyst awaits flow rate metrics across Lorelle-3H and Lorelle-5H before evaluating commercial potential.
This report was published on August 3, 2026.
Target price is $0.20 Current Price is $0.06 Difference: $0.145
If EXR meets the Canaccord Genuity target it will return approximately 264% (excluding dividends, fees and charges).
All consensus data are updated until yesterday. FNArena’s consensus calculations require a minimum of three sources
FFM FIREFLY METALS LIMITED
Gold & Silver – Overnight Price: $1.86
Moelis rates ((FFM)) as Downgrade to Hold from Buy (3) –
Moelis downgrades FireFly Metals to Hold with its target price lowered to $1.90 from $2.30 following a transition in valuation methodology incorporating project development realities at Green Bay.
Second-quarter activities outlined ongoing underground and surface exploration success with $20m spent during the period, leaving a strong closing cash position of $184m.
Introducing a 50% weighting to a concept-level net present value for the initial 1.8mtpa processing scenario reflects upcoming study releases where capital expenditure and execution risks supersede exploration optimism.
Modelled annual production of approximately 25kt copper over a 16-year mine life underpins an initial project valuation of $700m based on long-term commodity price assumptions.
The analyst considers near-term share price upside constrained as market attention shifts from exploration potential toward project delivery metrics.
This report was published on August 4, 2026.
Target price is $1.90 Current Price is $1.86 Difference: $0.04
If FFM meets the Moelis target it will return approximately 2% (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 minus 2.70 cents.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is minus 68.89.
Forecast for FY27:
Moelis forecasts a full year FY27 dividend of 0.00 cents and EPS of minus 4.70 cents.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is minus 39.57.
Market Sentiment: 0.5
All consensus data are updated until yesterday. FNArena’s consensus calculations require a minimum of three sources
GDF GARDA PROPERTY GROUP
REITs – Overnight Price: $1.08
Moelis rates ((GDF)) as Buy (1) –
Moelis maintains a Buy rating for Garda Property with a $1.61 target price following full-year FY26 earnings per share growth of 54% to 11.1c, beating initial company guidance by 24%.
Private lending revenue nearly tripled to $20.6m in FY26 to represent approximately 50% of total revenue as the committed loan book expanded to $134m.
Temporary vacancy increases across the industrial portfolio to 23% stem from redevelopment works at Morningside and recent turnover at Pinkenba, though bank guarantees and capitalised interest cushion near-term earnings impacts.
Official FY27 guidance projecting earnings per share of 10.5c appears conservative against the broker’s estimate of 11.2c given strong loan deployment momentum.
Trading at a -34% discount to net tangible assets of $1.64 per share, the analyst considers the stock deep value supported by an expected FY27 distribution yield of 8.5%.
This report was published on August 3, 2026.
Target price is $1.61 Current Price is $1.08 Difference: $0.53
If GDF meets the Moelis target it will return approximately 49% (excluding dividends, fees and charges).
The company’s fiscal year ends in June.
Forecast for FY26:
Moelis forecasts a full year FY26 dividend of 8.50 cents and EPS of 11.10 cents.
At the last closing share price the estimated dividend yield is 7.87%.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 9.73.
Forecast for FY27:
Moelis forecasts a full year FY27 dividend of 9.30 cents and EPS of 11.20 cents.
At the last closing share price the estimated dividend yield is 8.61%.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 9.64.
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: $10.06
Jarden rates ((GGP)) as Underweight (4) –
Jarden maintains an Underweight rating for Greatland Resources with its target price lowered to $8.40 from $8.50 following a strong June quarter delivering gold production of 79koz to bring full-year FY26 output to 329koz.
Full-year FY26 all-in sustaining costs reached $2,179/oz, landing well below the official guidance range.
Management established FY27 production guidance of 260koz to 300koz alongside all-in sustaining costs guided between $2,900/oz and $3,330/oz, incorporating a 15-day September quarter mill shutdown.
Growth capital expenditure guidance at Telfer of -$315m to -$335m exceeded prior forecasts due to tailings storage, early works, and project study requirements.
The analyst lifts FY27 unit cost expectations to $3,203/oz while retaining a cautious stance grounded in a long-term gold price assumption of US$3,000/oz.
This report was published on July 30, 2026.
Target price is $8.40 Current Price is $10.06 Difference: minus $1.66 (current price is over target).
If GGP meets the Jarden target it will return approximately minus 17% (excluding dividends, fees and charges – negative figures indicate an expected loss).
Current consensus price target is $15.06, suggesting upside of 46.2%(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
GL1 GLOBAL LITHIUM RESOURCES LIMITED
New Battery Elements – Overnight Price: $0.52
Shaw and Partners rates ((GL1)) as Buy (1) –
Shaw and Partners maintains a Buy rating for Global Lithium Resources with a $1.75 target price following a transformative fourth-quarter FY26 update de-risking the Manna Lithium Project.
Commercial progress featured a binding 10-year spodumene concentrate offtake agreement paired with a US$75m prepayment facility from strategic partner Jiangsu Lopal Tech Group, incorporating a US$1,000/t floor price for the initial three years.
Capital discipline was underscored by the divestment of the Marble Bar project for up to $14.85m alongside the $7m acquisition of IGO’s Nova infrastructure.
Repurposing Nova’s 1.8mtpa processing plant establishes a capital-light pathway to fast-track Manna towards production while preserving cash reserves, which stood at $26.2m at end-June 2026.
Expecting a Final Investment Decision before the end of 2026, the analyst considers the strategic operational sequence highly effective in positioning the company to capture favourable lithium market windows.
This report was published on August 4, 2026.
Target price is $1.75 Current Price is $0.52 Difference: $1.235
If GL1 meets the Shaw and Partners target it will return approximately 240% (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 1.50 cents.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is minus 34.33.
Forecast for FY27:
Shaw and Partners forecasts a full year FY27 dividend of 0.00 cents and EPS of minus 4.60 cents.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is minus 11.20.
Market Sentiment: 0.5
All consensus data are updated until yesterday. FNArena’s consensus calculations require a minimum of three sources
ILA ISLAND PHARMACEUTICALS LIMITED
Pharmaceuticals & Biotech/Lifesciences – Overnight Price: $0.41
Research as a Service (RaaS) rates ((ILA)) as No Rating (-1) –
Research as a Service (RaaS) updates on the Bundibugyo Ebola outbreak, where confirmed cases and deaths have been accelerating. Island Pharmaceuticals has received approval for treatment with Galidesivir under Uganda’s MEURI protocol.
Clinical data over coming months is highly anticipated and could support the drug’s approval and use as a broad-spectrum antiviral. The Uganda Government is fully funding the program with support from the World Health Organisation.
Valuation of $1.60 is unchanged. Commentary explains valuation is tied to the binary nature of the milestones expected over the next 18 months.
Research as a Service research does not carry any targets, ratings or recommendations. Investors can draw conclusions from valuations and commentary.
This report was published on August 3, 2026.
Target price is $1.60 Current Price is $0.41 Difference: $1.185
If ILA meets the Research as a Service (RaaS) target it will return approximately 286% (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 1.77 cents.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is minus 23.45.
Forecast for FY27:
Research as a Service (RaaS) forecasts a full year FY27 dividend of 0.00 cents and EPS of minus 4.70 cents.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is minus 8.83.
All consensus data are updated until yesterday. FNArena’s consensus calculations require a minimum of three sources
IOD IODM LIMITED
Cloud services – Overnight Price: $0.09
Shaw and Partners rates ((IOD)) as Buy (1) –
Shaw and Partners maintains a Buy rating for IODM with a $0.29 target price following a fourth-quarter FY26 cash flow update reflecting expanding international partner foundations.
Fourth-quarter customer receipts rose 29% year-on-year to $3.4m, missing the broker’s estimates due to university onboarding timing, while cash operating expenses reached $6.3m to close the financial year with $1m in net debt.
UK operations expanded to 18 onboarded universities, positioning a major institution signed in January 2026 to achieve a $600k annual revenue run rate ahead of the upcoming academic year.
North American commercial expansion alongside partner TransferMate targets onboarding over five universities monthly from early FY27 across a target market of 1.1m international students.
Lower near-term university exit rates prompt a -7%-21% reduction in FY27 through FY29 revenue estimates, though reduced cash cost growth to 9% offsets the operational impact, leading the analyst to view upcoming North American deployment as transformational.
This report was published on August 3, 2026.
Target price is $0.29 Current Price is $0.09 Difference: $0.2
If IOD meets the Shaw and Partners target it will return approximately 222% (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 0.40 cents.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is minus 22.50.
Forecast for FY27:
Shaw and Partners forecasts a full year FY27 dividend of 0.00 cents and EPS of minus 0.30 cents.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is minus 30.00.
All consensus data are updated until yesterday. FNArena’s consensus calculations require a minimum of three sources
KCN KINGSGATE CONSOLIDATED LIMITED
Gold & Silver – Overnight Price: $4.09
Canaccord Genuity rates ((KCN)) as Buy (1) –
Canaccord Genuity maintains a Buy rating for Kingsgate Consolidated with a $8.10 target price following fourth-quarter FY26 Chatree gold production of 20koz taking full-year output to 85koz.
June quarter all-in sustaining costs reached US$2,197/oz, beating the broker’s estimates on inventory movements despite elevated mining and diesel expenses.
Cash and bullion reserves closed at $179m against $14m in debt, while opening up the A pit provides supplemental higher-grade mill feed to mitigate processing constraints.
Mechanical issues at Chatree Plant 1 prompted a temporary 50% capacity restart via a modified SAG mill circuit, leading to revised FY27 estimates of 95koz at an all-in sustaining cost of US$2,285/oz.
Viewing the plant disruption as temporary, the analyst highlights a forecast FY27 free cash flow yield of 15% and regards the potential spin-out of Nueva Esperanza as a key valuation catalyst.
This report was published on August 2, 2026.
Target price is $8.10 Current Price is $4.09 Difference: $4.01
If KCN meets the Canaccord Genuity target it will return approximately 98% (excluding dividends, fees and charges).
All consensus data are updated until yesterday. FNArena’s consensus calculations require a minimum of three sources
Moelis rates ((KCN)) as Buy (1) –
Moelis maintains a Buy rating for Kingsgate Consolidated with its target price lowered to $6.20 from $6.45 following softer fourth-quarter gold production of 20.2koz.
Full-year FY26 production reached 86.1koz gold at an all-in sustaining cost of US$2,122/oz pre-royalties, while a 10c unfranked interim dividend returned $26.6m to shareholders.
Temporary processing constraints at Chatree Plant 1 prompted a reduction to first-quarter FY27 throughput, with the operation running at 50% capacity pending ball mill repairs.
Mine re-sequencing bringing forward higher-grade ore partially offsets processing slowdowns before throughput recovers above nameplate levels in subsequent quarters.
Lowered FY26 and FY27 earnings forecasts reflect ongoing operational remediation and increased long-term mining costs, though the analyst sees strong cash conversion and long-term production expansion towards 108koz in FY28 underpinning value.
This report was published on August 3, 2026.
Target price is $6.20 Current Price is $4.09 Difference: $2.11
If KCN meets the Moelis target it will return approximately 52% (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 75.20 cents.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 5.44.
Forecast for FY27:
Moelis forecasts a full year FY27 dividend of 0.00 cents and EPS of 112.20 cents.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 3.65.
All consensus data are updated until yesterday. FNArena’s consensus calculations require a minimum of three sources
LM8 LUNNON METALS LIMITED
Mining – Overnight Price: $0.29
Shaw and Partners rates ((LM8)) as Buy (1) –
Shaw and Partners maintains a Buy rating for Lunnon Metals with its target price reduced to $0.60 from $0.92 following a June quarter operational update highlighting accelerating free cash flow generation.
Deliveries from the Lady Herial open pit to the St Ives processing plant generated $27.66m in gross revenue against $10.3m in direct operating expenses, yielding 7,861 contained ounces of gold.
Mining progress positioned cash reserves to expand to $22.2m at the end of June and $29m by late July, enabling the full repayment of a $6m debt facility.
Management fully self-funds a Board-approved $13m FY27 exploration program covering over 43,000m of drilling across 31 gold prospects in Kambalda.
Revising precious metal price deck assumptions prompts the target price adjustment, while the analyst considers the high-margin production profile well positioned to de-risk broader exploration targets.
This report was published on July 31, 2026.
Target price is $0.60 Current Price is $0.29 Difference: $0.31
If LM8 meets the Shaw and Partners target it will return approximately 107% (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 6.10 cents.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 4.75.
Forecast for FY27:
Shaw and Partners forecasts a full year FY27 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 4.46.
All consensus data are updated until yesterday. FNArena’s consensus calculations require a minimum of three sources
LRK LARK DISTILLING CO. LIMITED
Food, Beverages & Tobacco – Overnight Price: $0.92
Canaccord Genuity rates ((LRK)) as Speculative Buy (1) –
Canaccord Genuity maintains a Speculative Buy rating for Lark Distilling Co with its target price increased to $1.30 from $1.29 following a strong fourth-quarter sales result.
Net sales revenue reached $5.0m to beat broker estimates by 10%, reflecting a 44% year-on-year increase driven by Global Travel Retail growth and specific event timing.
The global travel segment doubled its sales to $0.7m supported by the new Signature range rollout and new shopfronts in Changi and Perth airports, while domestic business-to-business sales rose 8%.
The closing cash balance landed at $14.3m alongside quarterly operating cash outflows of -$1.2m, as the strategic whisky bank held steady at 2.4m litres.
Driven by the sales beat and expectations for an accelerated 22% net sales growth in FY27, the analyst implements minor earnings upgrades and views further travel retail expansion and direct-to-consumer execution as key upcoming catalysts.
This report was published on August 2, 2026.
Target price is $1.30 Current Price is $0.92 Difference: $0.38
If LRK meets the Canaccord Genuity target it will return approximately 41% (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 0.00 cents.
Forecast for FY27:
Canaccord Genuity forecasts a full year FY27 dividend of 0.00 cents.
All consensus data are updated until yesterday. FNArena’s consensus calculations require a minimum of three sources
LTR LIONTOWN LIMITED
New Battery Elements – Overnight Price: $0.99
Jarden rates ((LTR)) as Underweight (4) –
Jarden maintains an Underweight rating for Liontown with its target price lowered to $0.90 from $1.00 following a June quarter update missing operational expectations across most key metrics.
June quarter revenue fell -36% short of broker estimates due to lower realised sales volumes and weaker realised pricing.
Production guidance for FY27 was set at 390kt to 440kt, well below consensus expectations of 471kt.
Free-on-board unit cost guidance of $1,050/t to $1,250/t exceeded expectations alongside FY27 capital expenditure guidance of -$320m to -$370m, representing a three-fold increase compared to FY26.
Weaker operational metrics and elevated capital commitments lead the analyst to retain a cautious outlook on the stock.
This report was published on July 31, 2026.
Target price is $0.90 Current Price is $0.99 Difference: minus $0.09 (current price is over target).
If LTR meets the Jarden target it will return approximately minus 9% (excluding dividends, fees and charges – negative figures indicate an expected loss).
Current consensus price target is $1.71, suggesting upside of 67.5%(ex-dividends)
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 minus 0.40 cents.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is minus 247.50.How do these forecasts compare to market consensus projections?
Current consensus EPS estimate is -0.1, 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.
Forecast for FY27:
Jarden forecasts a full year FY27 dividend of 0.00 cents and EPS of 2.50 cents.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 39.60.How do these forecasts compare to market consensus projections?
Current consensus EPS estimate is 13.5, 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 7.6.
Market Sentiment: 0.6
All consensus data are updated until yesterday. FNArena’s consensus calculations require a minimum of three sources
MEI METEORIC RESOURCES LIMITED
Gold & Silver – Overnight Price: $0.19
Canaccord Genuity rates ((MEI)) as Speculative Buy (1) –
Canaccord Genuity maintains a Speculative Buy rating for Meteoric Resources with a $0.40 target price following initial Definitive Feasibility Study results for the Caldeira project.
The study translates an updated 151Mt ore reserve into an initial 23-year mine life processing 6Mtpa to produce 4ktpa of neodymium and praseodymium in mixed rare earth carbonate.
High initial feed grades exceeding 5,000ppm across the first two years support capital payback, helping offset capital expenditure increasing 12% to -US$498.4m alongside higher cash costs of US$11.68/kg.
Construction licence approvals expected in late 2026 remain a prerequisite for a final investment decision ahead of targeted first production in late 2028.
The analyst considers the completed study an important de-risking milestone for permitting and financing, with the Posco partnership expected to reduce funding risk.
This report was published on August 2, 2026.
Target price is $0.40 Current Price is $0.19 Difference: $0.21
If MEI meets the Canaccord Genuity target it will return approximately 111% (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
MIN MINERAL RESOURCES LIMITED
Iron Ore – Overnight Price: $57.73
Jarden rates ((MIN)) as Sell (5) –
Jarden maintains a Sell rating for Mineral Resources with its target price increased to $29.50 from $27.00 following an operational update closing out FY26 ahead of guidance across all segments.
The analyst expects full-year FY26 underlying EBITDA of $2.55bn and reported net profit after tax of $1.1bn, prompting a 7% upgrade to FY26 EBITDA forecasts alongside a 3% uplift across FY27-FY28.
While no official FY27 guidance was issued, Wodgina is expected to operate three trains and a potential sixth transhipment vessel at Onslow may boost volumes.
Although net debt reduced by -$200m during the quarter, closing balances remain elevated at $4.3bn. The broker retains its rating, viewing shares as trading at an 89% premium to net present value estimates.
This report was published on July 30, 2026.
Target price is $29.50 Current Price is $57.73 Difference: minus $28.23 (current price is over target).
If MIN meets the Jarden target it will return approximately minus 49% (excluding dividends, fees and charges – negative figures indicate an expected loss).
Current consensus price target is $76.40, suggesting upside of 30.9%(ex-dividends)
Forecast for FY26:
Current consensus EPS estimate is 406.7, implying annual growth of N/A.
Current consensus DPS estimate is 8.3, implying a prospective dividend yield of 0.1%.
Current consensus EPS estimate suggests the PER is 14.3.
Forecast for FY27:
Current consensus EPS estimate is 530.5, implying annual growth of 30.4%.
Current consensus DPS estimate is 121.4, implying a prospective dividend yield of 2.1%.
Current consensus EPS estimate suggests the PER is 11.0.
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: $1.42
Shaw and Partners rates ((MMI)) as Buy (1) –
Shaw and Partners maintains a Buy rating for Metro Mining with a $3.00 target price following a second-quarter 2026 operational update delivering positive margins at the bottom of the bauxite cycle.
Record second-quarter bauxite shipments of 1.8m wmt lifted June quarter operating cash flow to $24.1m, exceeding the broker’s $18.6m forecast.
Closing cash reserves expanded to $24m as at 30 June 2026, supported by lower debt repayments and a negotiated 9% bauxite price increase for the September quarter.
Temporary cost inflation driven by Cyclone Narelle demurrage and equipment maintenance pushed site costs to $33.7/t, though unit expenses are expected to normalise back into the mid-20s across second-half operations.
Unchanged full-year earnings forecasts and a planned third-quarter share buy-back prompt the analyst to view the company as one of its top commodity picks for 2026.
This report was published on August 3, 2026.
Target price is $3.00 Current Price is $1.42 Difference: $1.58
If MMI meets the Shaw and Partners target it will return approximately 111% (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 10.30 cents.
At the last closing share price the estimated dividend yield is 7.04%.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 13.79.
Forecast for FY27:
Shaw and Partners forecasts a full year FY27 dividend of 30.00 cents and EPS of 44.40 cents.
At the last closing share price the estimated dividend yield is 21.13%.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 3.20.
Market Sentiment: 1.0
All consensus data are updated until yesterday. FNArena’s consensus calculations require a minimum of three sources
MYX MAYNE PHARMA GROUP LIMITED
Pharmaceuticals & Biotech/Lifesciences – Overnight Price: $2.93
Canaccord Genuity rates ((MYX)) as Speculative Buy (1) –
Canaccord Genuity maintains a Speculative Buy rating for Mayne Pharma with a $3.83 target price following a fourth-quarter FY26 update featuring underlying EBITDA slightly ahead of estimates alongside strong cash generation.
Full-year FY26 revenue of $383.7m fell -6% year-on-year, missing the broker’s forecast of $397.4m by -3% due to headwinds across Dermatology and International divisions.
Gross margin expanded 411bps to 65%, while underlying EBITDA reached $31.7m and closing cash reserves finished $7.5m ahead of the $80.0m expected.
Women’s Health sales provided encouraging proof points, led by strong growth in Imvexxy up 36% and Bijuva up 5% over the prior corresponding period.
Planned divestments of the International Business and Salisbury facility for $70m are expected to fund the repayment of -$42m in convertible notes and simplify the balance sheet, leading the analyst to view the refocused specialty portfolio as well positioned.
This report was published on August 2, 2026.
Target price is $3.83 Current Price is $2.93 Difference: $0.9
If MYX meets the Canaccord Genuity target it will return approximately 31% (excluding dividends, fees and charges).
All consensus data are updated until yesterday. FNArena’s consensus calculations require a minimum of three sources
NCK NICK SCALI LIMITED
Furniture & Renovation – Overnight Price: $16.05
Jarden rates ((NCK)) as Upgrade to Overweight from Neutral (2) –
Jarden upgrades its rating for Nick Scali to Overweight with a $16.60 target price despite expecting tough trading conditions across housing retail through FY27.
Commentary states recent share price underperformance and the likely proximity to peak interest rates create an appealing entry point for institutional investors seeking to reduce underweight exposures.
Projected FY27 earnings per share mirror outcomes from the 2019 housing cycle, while a solid balance sheet is seen providing valuable downside protection should trading deteriorate.
Noting an ANZ price-to-earnings multiple of 14x to 17x alongside anticipated monthly sales volatility, the analyst considers current valuation levels attractive for long-term positioning.
This report was published on July 30, 2026.
Target price is $16.60 Current Price is $16.05 Difference: $0.55
If NCK meets the Jarden target it will return approximately 3% (excluding dividends, fees and charges).
Current consensus price target is $16.73, suggesting upside of 3.5%(ex-dividends)
Forecast for FY26:
Current consensus EPS estimate is 89.7, implying annual growth of 32.9%.
Current consensus DPS estimate is 71.5, implying a prospective dividend yield of 4.4%.
Current consensus EPS estimate suggests the PER is 18.0.
Forecast for FY27:
Current consensus EPS estimate is 92.4, implying annual growth of 3.0%.
Current consensus DPS estimate is 72.6, implying a prospective dividend yield of 4.5%.
Current consensus EPS estimate suggests the PER is 17.5.
Market Sentiment: 0.4
All consensus data are updated until yesterday. FNArena’s consensus calculations require a minimum of three sources
NST NORTHERN STAR RESOURCES LIMITED
Gold & Silver – Overnight Price: $19.91
Jarden rates ((NST)) as Underweight (4) –
Jarden maintains an Underweight rating for Northern Star Resources with its target price lowered to $19.80 from $20.60 following a mixed June quarter update accompanied by an absence of FY27 operational guidance.
The company stepped away from its previously guided three-year ramp-up profile for the KCGM asset, creating visibility concerns across medium-term growth expectations.
A material revenue miss during the June quarter leads to reduced FY26 forecasts, now projecting full-year revenue of $7.63bn, EBITDA of $4.17bn, and net profit after tax of $1.75bn.
Projected free cash flow generation remained minimal after adding $52m to the balance sheet during the quarter relative to a market capitalisation of $30bn.
Expecting a final dividend of $0.25 per share to bring full-year FY26 dividends to $0.50 per share, the analyst considers current valuation metrics unsupportive following a -1%-5% reduction in near-term EBITDA estimates.
This report was published on July 30, 2026.
Target price is $19.80 Current Price is $19.91 Difference: minus $0.11 (current price is over target).
If NST meets the Jarden target it will return approximately minus 1% (excluding dividends, fees and charges – negative figures indicate an expected loss).
Current consensus price target is $26.58, suggesting upside of 34.4%(ex-dividends)
Forecast for FY26:
Current consensus EPS estimate is 127.2, implying annual growth of 12.9%.
Current consensus DPS estimate is 53.6, implying a prospective dividend yield of 2.7%.
Current consensus EPS estimate suggests the PER is 15.5.
Forecast for FY27:
Current consensus EPS estimate is 178.8, implying annual growth of 40.6%.
Current consensus DPS estimate is 63.4, implying a prospective dividend yield of 3.2%.
Current consensus EPS estimate suggests the PER is 11.1.
Market Sentiment: 0.8
All consensus data are updated until yesterday. FNArena’s consensus calculations require a minimum of three sources
OBM ORA BANDA MINING LIMITED
Gold & Silver – Overnight Price: $1.17
Moelis rates ((OBM)) as Buy (1) –
Moelis maintains a Buy rating for Ora Banda Mining with a $1.40 target price following high-grade exploration drill results from the Little Gem prospect.
Intercepts including 5.0m at 18.1g/t gold and 2.0m at 44.3g/t gold extend the mineralised strike length along the Davyhurst trend.
Maiden resource estimates slated for late 2026 are expected to demonstrate sufficient inventory to support expanding processing plant facilities beyond a six-year production horizon.
Management decisions to expand processing capacity ahead of final resource definitions are viewed by the broker as a calculated risk backed by prospective geology and a funded balance sheet.
The analyst considers the company well positioned relative to broader sector peers due to clear organic growth drivers.
This report was published on August 2, 2026.
Target price is $1.40 Current Price is $1.17 Difference: $0.235
If OBM meets the Moelis target it will return approximately 20% (excluding dividends, fees and charges).
Current consensus price target is $1.65, suggesting upside of 43.5%(ex-dividends)
Forecast for FY26:
Current consensus EPS estimate is 11.2, implying annual growth of 9.8%.
Current consensus DPS estimate is N/A, implying a prospective dividend yield of N/A.
Current consensus EPS estimate suggests the PER is 10.3.
Forecast for FY27:
Current consensus EPS estimate is 11.7, implying annual growth of 4.5%.
Current consensus DPS estimate is N/A, implying a prospective dividend yield of N/A.
Current consensus EPS estimate suggests the PER is 9.8.
Market Sentiment: 1.0
All consensus data are updated until yesterday. FNArena’s consensus calculations require a minimum of three sources
PDI PREDICTIVE DISCOVERY LIMITED
Gold & Silver – Overnight Price: $0.67
Canaccord Genuity rates ((PDI)) as Speculative Buy (1) –
Canaccord Genuity maintains a Speculative Buy rating for Predictive Discovery with a $1.40 target price following a fourth-quarter FY26 update featuring elevated throughput at the Kinieros mine in Guinea.
Kinieros produced 54koz of gold at an all-in sustaining cost of US$1,254/oz, supported by mill processing operating at 9.0Mtpa to beat quarterly operational forecasts.
Full-year 2026 group production guidance was maintained at 198koz to 220koz alongside inaugural all-in sustaining cost guidance set between US$1,300/oz and US$1,500/oz.
Closing cash and bullion reached US$364m while capital expenditure estimates for the nearby Bankan development project were held steady at -US$463m ahead of expected environmental permitting.
Revised operational cost assumptions at Kinieros prompt a -4% reduction in FY26 EBITDA estimates to $908m, though higher plant recoveries and potential permitting catalysts lead the analyst to reiterate long-term value.
This report was published on August 3, 2026.
Target price is $1.40 Current Price is $0.67 Difference: $0.735
If PDI meets the Canaccord Genuity target it will return approximately 111% (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 0.00 cents and EPS of 17.00 cents.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 3.91.
Forecast for FY27:
Canaccord Genuity forecasts a full year FY27 dividend of 0.00 cents and EPS of 10.00 cents.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 6.65.
Market Sentiment: 1.0
All consensus data are updated until yesterday. FNArena’s consensus calculations require a minimum of three sources
PLS PLS GROUP LIMITED
New Battery Elements – Overnight Price: $4.08
Canaccord Genuity rates ((PLS)) as Buy (1) –
Canaccord Genuity maintains a Buy rating for PLS Group with a $6.40 target price following a strong fourth-quarter operational result driven by robust cash generation and elevated realised pricing.
Fourth-quarter spodumene concentrate sales rose 28% sequentially to 250kt, lifting full-year production to 880kt and beating the upper boundary of official guidance.
Realised pricing expanded 13% quarter-on-quarter to US$2,107/t, supporting a 57% increase in closing cash reserves to $2.29bn alongside net proceeds from a US$600m senior note issuance.
Management established steady FY27 production guidance of 1.03Mt to 1.10Mt at unit operating costs between -$575/t and -$625/t, while capital expenditure commitments step up to a range of -$620m to -$685m.
Model updates drive a 9% uplift to FY26 EBITDA projections, with the analyst viewing the valuation as attractive at a price-to-net-asset-value multiple of 0.64x.
This report was published on August 2, 2026.
Target price is $6.40 Current Price is $4.08 Difference: $2.32
If PLS meets the Canaccord Genuity target it will return approximately 57% (excluding dividends, fees and charges).
Current consensus price target is $5.30, suggesting upside of 29.3%(ex-dividends)
Forecast for FY26:
Current consensus EPS estimate is 17.9, implying annual growth of N/A.
Current consensus DPS estimate is 2.5, implying a prospective dividend yield of 0.6%.
Current consensus EPS estimate suggests the PER is 22.9.
Forecast for FY27:
Current consensus EPS estimate is 42.4, implying annual growth of 136.9%.
Current consensus DPS estimate is 4.0, implying a prospective dividend yield of 1.0%.
Current consensus EPS estimate suggests the PER is 9.7.
Market Sentiment: 0.4
All consensus data are updated until yesterday. FNArena’s consensus calculations require a minimum of three sources
Jarden rates ((PLS)) as Underweight (4) –
Jarden maintains an Underweight rating for PLS Group with its target price increased to $3.10 from $3.00 following full-year operational results outperforming volume guidance.
Full-year production and sales set corporate records, allowing the business to enter FY27 with $1.1bn in net cash.
Production guidance for FY27 aligns with broker expectations, featuring lower unit operating costs alongside higher capital expenditure commitments.
While considering the stock one of the highest-quality resource exposures on the ASX, the analyst maintains valuation discipline ahead of a more attractive entry opportunity.
This report was published on July 31, 2026.
Target price is $3.10 Current Price is $4.08 Difference: minus $0.98 (current price is over target).
If PLS meets the Jarden target it will return approximately minus 24% (excluding dividends, fees and charges – negative figures indicate an expected loss).
Current consensus price target is $5.30, suggesting upside of 29.3%(ex-dividends)
Forecast for FY26:
Current consensus EPS estimate is 17.9, implying annual growth of N/A.
Current consensus DPS estimate is 2.5, implying a prospective dividend yield of 0.6%.
Current consensus EPS estimate suggests the PER is 22.9.
Forecast for FY27:
Current consensus EPS estimate is 42.4, implying annual growth of 136.9%.
Current consensus DPS estimate is 4.0, implying a prospective dividend yield of 1.0%.
Current consensus EPS estimate suggests the PER is 9.7.
Market Sentiment: 0.4
All consensus data are updated until yesterday. FNArena’s consensus calculations require a minimum of three sources
PNR PANTORO GOLD LIMITED
Gold & Silver – Overnight Price: $2.02
Canaccord Genuity rates ((PNR)) as Speculative Buy (1) –
Canaccord Genuity maintains a Speculative Buy rating for Pantoro Gold with a $4.20 target price following fourth-quarter FY26 production of 18koz bringing full-year output to 77.4koz.
Fourth-quarter all-in sustaining costs reached $4,107/oz on underground contractor transitions at the OK mine, Scotia labour shortages, and elevated fuel costs.
Underground operational productivity recovered through June and July, with contractor Redpath Australia actively staffing active mining areas to restore output momentum.
Reiterated FY27 production guidance targets 90koz to 105koz at all-in sustaining costs between -$2,800/oz and -$3,400/oz, underpinned by -$101m in major project capital and -$45m in exploration spend.
The analyst expects an upcoming five-year production plan to outline medium-term expansion targets reaching 200kozpa while maintaining earnings estimates across FY27 and FY28.
This report was published on August 3, 2026.
Target price is $4.20 Current Price is $2.02 Difference: $2.18
If PNR meets the Canaccord Genuity target it will return approximately 108% (excluding dividends, fees and charges).
Current consensus price target is $4.15, suggesting upside of 104.3%(ex-dividends)
The company’s fiscal year ends in June.
Forecast for FY26:
Canaccord Genuity forecasts a full year FY26 dividend of 0.00 cents and EPS of 32.00 cents.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 6.31.How do these forecasts compare to market consensus projections?
Current consensus EPS estimate is 36.7, implying annual growth of 148.0%.
Current consensus DPS estimate is N/A, implying a prospective dividend yield of N/A.
Current consensus EPS estimate suggests the PER is 5.5.
Forecast for FY27:
Canaccord Genuity forecasts a full year FY27 dividend of 0.00 cents and EPS of 35.00 cents.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 5.77.How do these forecasts compare to market consensus projections?
Current consensus EPS estimate is 49.3, implying annual growth of 34.3%.
Current consensus DPS estimate is N/A, implying a prospective dividend yield of N/A.
Current consensus EPS estimate suggests the PER is 4.1.
Market Sentiment: 0.8
All consensus data are updated until yesterday. FNArena’s consensus calculations require a minimum of three sources
PRU PERSEUS MINING LIMITED
Gold & Silver – Overnight Price: $4.84
Canaccord Genuity rates ((PRU)) as Buy (1) –
Canaccord Genuity maintains a Buy rating for Perseus Mining with a $7.30 target price following fourth-quarter FY26 production of 109koz of gold at an all-in sustaining cost of US$1,941/oz.
Closing cash and bullion reserves expanded to US$1.03bn, underpinned by positive working capital, the execution of 84% of a $150m share buy-back program, and US$260m in cash proceeds from selling a 70% stake in the Meyas Sand Gold Project.
Project development at Nyanzaga reached 67% completion on budget, remaining on track for initial gold production in the third quarter of 2027 to lift total group output towards 600kozpa by FY29.
Upward revisions to the broker’s FY27 production forecast to 454koz at an all-in sustaining cost of US$2,124/oz reflect a faster anticipated ramp-up at Nyanzaga, aligning output expectations with official guidance of 420koz to 480koz.
While higher site expenditure and Ghanaian royalties led to lower FY26 profit estimates, the analyst considers the overall valuation underpinned by strong balance sheet liquidity and long-term production growth.
This report was published on August 2, 2026.
Target price is $7.30 Current Price is $4.84 Difference: $2.46
If PRU meets the Canaccord Genuity target it will return approximately 51% (excluding dividends, fees and charges).
Current consensus price target is $6.39, suggesting upside of 31.7%(ex-dividends)
Forecast for FY26:
Current consensus EPS estimate is 47.7, implying annual growth of N/A.
Current consensus DPS estimate is 13.7, implying a prospective dividend yield of 2.8%.
Current consensus EPS estimate suggests the PER is 10.2.
Forecast for FY27:
Current consensus EPS estimate is 58.5, implying annual growth of 22.6%.
Current consensus DPS estimate is 14.0, implying a prospective dividend yield of 2.9%.
Current consensus EPS estimate suggests the PER is 8.3.
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
RFF RURAL FUNDS GROUP
REITs – Overnight Price: $2.19
Canaccord Genuity rates ((RFF)) as Buy (1) –
Canaccord Genuity maintains a Buy rating for Rural Funds with its target price increased to $2.59 from $2.46 following an agreement to sell five assets for $256m at a 23% premium to book value.
Net sale proceeds applied toward core debt reduction lower pro forma gearing to 31.6% from 39.1%, bringing balance sheet leverage back within the 30% to 35% target range.
Settlements occurring predominantly in 1H27 support reaffirmed FY26 adjusted funds from operations guidance of 11.7c per unit while delivering ongoing net earnings accretion.
Lower property income from divested assets reduces forecast cash revenue and EBIT by -5%-8% across FY27 and FY28, though lower management fees lift forecast adjusted funds from operations by 2% in FY27 and 5% in FY28.
The analyst views the transaction as a key catalyst towards resuming distribution growth from FY28 and underpinning long-term unit valuation re-ratings.
This report was published on August 2, 2026.
Target price is $2.59 Current Price is $2.19 Difference: $0.4
If RFF meets the Canaccord Genuity target it will return approximately 18% (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
RMS RAMELIUS RESOURCES LIMITED
Gold & Silver – Overnight Price: $3.10
Canaccord Genuity rates ((RMS)) as Buy (1) –
Canaccord Genuity maintains a Buy rating for Ramelius Resources with its target price increased to $5.60 from $5.50 following a fourth-quarter FY26 update featuring a 40% sequential increase in gold production to 53koz at all-in sustaining costs of $1,973/oz.
Accelerated underground ore extraction at Never Never contributed 115kt at 5.95g/t gold, driving higher mill throughput and grades across the Mt Magnet operation.
FY26 production reached 192.2koz at all-in sustaining costs of $1,983/oz, satisfying annual volume and revised cost guidance for the sixth consecutive year.
Closing cash and bullion reserves expanded to $650m, supporting an ongoing $250m share buy-back program alongside the pending sale of Edna May for $210m in cash and $90m in scrip.
Upward revisions to FY27 output forecasts to 214koz prompt the revised valuation, with the analyst expecting the expanding Mt Magnet processing hub to underpin medium-term production growth.
This report was published on August 2, 2026.
Target price is $5.60 Current Price is $3.10 Difference: $2.5
If RMS meets the Canaccord Genuity target it will return approximately 81% (excluding dividends, fees and charges).
Current consensus price target is $4.83, suggesting upside of 54.6%(ex-dividends)
Forecast for FY26:
Current consensus EPS estimate is 10.1, implying annual growth of -75.4%.
Current consensus DPS estimate is 4.3, implying a prospective dividend yield of 1.4%.
Current consensus EPS estimate suggests the PER is 30.9.
Forecast for FY27:
Current consensus EPS estimate is 24.6, implying annual growth of 143.6%.
Current consensus DPS estimate is 4.4, implying a prospective dividend yield of 1.4%.
Current consensus EPS estimate suggests the PER is 12.7.
Market Sentiment: 1.0
All consensus data are updated until yesterday. FNArena’s consensus calculations require a minimum of three sources
Shaw and Partners rates ((RMS)) as Buy (1) –
Shaw and Partners maintains a Buy rating for Ramelius Resources with its target price reduced to $5.60 from $6.50 following a fourth-quarter operational update.
Fourth-quarter gold production reached 53.5koz at an all-in sustaining cost of $1,973/oz, lifting full-year FY26 output to 192koz to achieve operational volume guidance.
Strong underground ramp-up at Never Never contributed 40% of June quarter production, while underlying quarterly free cash flow generated $138m.
Closing cash and bullion reserves reached $650m alongside $100m in listed security investments, providing substantial balance sheet flexibility.
Lowering gold price assumptions and incorporating higher non-cash depreciation and amortisation leads to reduced earnings projections, though the analyst maintains an optimistic outlook on long-term production expansion across the Mt Magnet hub.
This report was published on July 31, 2026.
Target price is $5.60 Current Price is $3.10 Difference: $2.5
If RMS meets the Shaw and Partners target it will return approximately 81% (excluding dividends, fees and charges).
Current consensus price target is $4.83, suggesting upside of 54.6%(ex-dividends)
The company’s fiscal year ends in June.
Forecast for FY26:
Shaw and Partners forecasts a full year FY26 dividend of 5.00 cents and EPS of 11.80 cents.
At the last closing share price the estimated dividend yield is 1.61%.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 26.27.How do these forecasts compare to market consensus projections?
Current consensus EPS estimate is 10.1, implying annual growth of -75.4%.
Current consensus DPS estimate is 4.3, implying a prospective dividend yield of 1.4%.
Current consensus EPS estimate suggests the PER is 30.9.
Forecast for FY27:
Shaw and Partners forecasts a full year FY27 dividend of 7.00 cents and EPS of 29.50 cents.
At the last closing share price the estimated dividend yield is 2.26%.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 10.51.How do these forecasts compare to market consensus projections?
Current consensus EPS estimate is 24.6, implying annual growth of 143.6%.
Current consensus DPS estimate is 4.4, implying a prospective dividend yield of 1.4%.
Current consensus EPS estimate suggests the PER is 12.7.
Market Sentiment: 1.0
All consensus data are updated until yesterday. FNArena’s consensus calculations require a minimum of three sources
RSG RESOLUTE MINING LIMITED
Gold & Silver – Overnight Price: $0.94
Canaccord Genuity rates ((RSG)) as Buy (1) –
Canaccord Genuity maintains a Buy rating for Resolute Mining with its target price lowered to $2.25 from $2.45 following June quarter gold production of 45koz delivered in line with forecasts.
All-in sustaining costs reached US$2,484/oz on elevated mining and processing expenses at Syama, while operating cash flow generated a solid US$77m to lift closing net cash to US$315m.
Secured credit facilities of US$155m, alongside an additional US$105m expected in the September quarter, fully support the -US$515m capital expenditure required for the Doropo development in Cote d’Ivoire.
Uncertainty across regional supply chains and ongoing ramp-up logistics lead the analyst to lower 2026 production forecasts to 230koz at an all-in sustaining cost of US$2,329/oz, driving a -5% reduction in 2026 EBITDA estimates.
Long-term growth projects across Cote d’Ivoire and Senegal remain on track to double group production to over 500kozpa by 2029 while significantly reducing operational exposure to Mali.
This report was published on August 2, 2026.
Target price is $2.25 Current Price is $0.94 Difference: $1.315
If RSG meets the Canaccord Genuity target it will return approximately 141% (excluding dividends, fees and charges).
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
SLD SALUDA MEDICAL INC
Overnight Price: $0.43
Canaccord Genuity rates ((SLD)) as Initiation of coverage with Buy (1) –
Canaccord Genuity maintains a Buy rating for Saluda Medical with a 2.00 target price following a fourth-quarter FY26 update delivering stronger than expected revenue.
Fourth-quarter revenue expanded 43% year-on-year to US$27.0m, lifting full-year FY26 revenue 28% to US$90.2m to exceed broker expectations.
A 22% increase in active US implanting physicians alongside a 23% rise in average utilisation drove a 50% uplift in implanted recipients during the quarter.
US sales headcount reached 161 total reps at year end, maintaining momentum toward target steady-state sales representative productivity of US$1.6m annually.
Finished cash reserves of US$116.4m combined with US$25m in undrawn debt facilities fully support ongoing commercial rollout, while the analyst sees potential upside to the FY27 revenue forecast of US$119.6m ahead of formal management guidance.
This report was published on July 29, 2026.
Target price is $2.00 Current Price is $0.43 Difference: $1.57
If SLD meets the Canaccord Genuity target it will return approximately 365% (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
SLS SOLSTICE MINERALS LIMITED
Copper – Overnight Price: $2.15
Canaccord Genuity rates ((SLS)) as Speculative Buy (1) –
Canaccord Genuity maintains a Speculative Buy rating for Solstice Minerals with a $2.55 target price following reverse circulation pre-collar drilling results at the Nanadie copper-gold project in Western Australia.
Nine of ten reported drill holes intersected copper mineralisation, extending resource boundaries beyond the current 40.4Mt mineral resource model and highlighting a higher-grade corridor along the eastern margin of the Nanadie gabbro.
Key reverse circulation intersections delivered 51m at 1.03% copper and 0.29g/t gold from 194m alongside 30m at 1.15% copper and 0.25g/t gold from 240m.
Infill pre-collars established quality targets ahead of deeper diamond tail drilling, with pending assays expected to test system extensions at depth across the 1.2km strike length.
Assuming an eventual resource inventory of 140Mt at Nanadie, the analyst bases valuation on peer enterprise value to resource multiples, noting a potential expansion to 300Mt would double valuation estimates.
This report was published on August 3, 2026.
Target price is $2.55 Current Price is $2.15 Difference: $0.4
If SLS meets the Canaccord Genuity target it will return approximately 19% (excluding dividends, fees and charges).
All consensus data are updated until yesterday. FNArena’s consensus calculations require a minimum of three sources
STM SUNSTONE METALS LIMITED
Copper – Overnight Price: $0.17
Shaw and Partners rates ((STM)) as Buy (1) –
Shaw and Partners maintains a Buy rating for Sunstone Metals with a $1.40 target price following extensive gold-copper porphyry drilling results from the Bramaderos project in Ecuador.
Highlighting recent exploration at the Porotillo prospect, drill hole PTDD017 returned 196m at 0.62g/t gold equivalent while surface trenches established a continuous 607.71m intersection grading 0.52g/t gold equivalent.
Assay results across the Porotillo, Copete, and Melonal prospects will feed into an updated Bramaderos mineral resource estimate scheduled for late 2026.
Exploration proceeds will also expand drilling at the El Palmar asset to increase copper weightings across its 15moz to 45moz gold-equivalent exploration target.
Amidst record gold prices and active regional M&A, corporate advisors continue discussions with strategic partners regarding potential corporate or project-level transactions, leading the analyst to view the Ecuadorian deposits as a potential tier-one production hub.
This report was published on August 4, 2026.
Target price is $1.40 Current Price is $0.17 Difference: $1.235
If STM meets the Shaw and Partners target it will return approximately 748% (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 1.00 cents.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is minus 16.50.
Forecast for FY27:
Shaw and Partners forecasts a full year FY27 dividend of 0.00 cents and EPS of minus 0.80 cents.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is minus 20.63.
Market Sentiment: 1.0
All consensus data are updated until yesterday. FNArena’s consensus calculations require a minimum of three sources
VGL VISTA GROUP INTERNATIONAL LIMITED
Software & Services – Overnight Price: $2.17
Shaw and Partners rates ((VGL)) as Buy (1) –
Shaw and Partners maintains a Buy rating for Vista International with a $3.70 target price following a first-half FY26 result featuring upgraded revenue guidance.
First-half revenue grew 12% year-on-year to NZ86.3m to track 2% ahead of expectations, while EBITDA reached NZ12.4m to align with broker estimates.
Management upgraded full-year FY26 revenue guidance to between NZ179m and NZ184m, driven by record cloud backlogs, marquee client wins, and favourable cinema industry conditions.
The new Payments division is scaling rapidly with 11 live customers and over NZ2m in contracted annual recurring revenue, supporting reaffirmed FY30 targets.
Noting free cash flow is approaching a positive inflection point by FY28, the analyst believes current valuation multiples underappreciate emerging earnings leverage as cloud implementation investments normalise.
This report was published on August 4, 2026.
Target price is $3.70 Current Price is $2.17 Difference: $1.53
If VGL meets the Shaw and Partners target it will return approximately 71% (excluding dividends, fees and charges).
Current consensus price target is $2.97, suggesting upside of 36.9%(ex-dividends)
The company’s fiscal year ends in December.
Forecast for FY26:
Shaw and Partners forecasts a full year FY26 dividend of 0.00 cents and EPS of 1.54 cents.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 141.28.How do these forecasts compare to market consensus projections?
Current consensus EPS estimate is 4.1, 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 52.9.
Forecast for FY27:
Shaw and Partners forecasts a full year FY27 dividend of 0.00 cents and EPS of 4.86 cents.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 44.61.How do these forecasts compare to market consensus projections?
Current consensus EPS estimate is 4.8, implying annual growth of 17.1%.
Current consensus DPS estimate is N/A, implying a prospective dividend yield of N/A.
Current consensus EPS estimate suggests the PER is 45.2.
This company reports in NZD. All estimates have been converted into AUD by FNArena at present FX values.
Market Sentiment: 0.7
All consensus data are updated until yesterday. FNArena’s consensus calculations require a minimum of three sources
WDS WOODSIDE ENERGY GROUP LIMITED
NatGas – Overnight Price: $32.50
Jarden rates ((WDS)) as Overweight (2) –
Jarden maintains an Overweight rating for Woodside Energy with its target price increased to $32.20 from $30.50 following a “robust” June quarter performance.
Sales revenue outpaced consensus expectations by 26% and beat the broker’s estimate by 28%. Financial guidance points to 2026 earnings downgrades driven primarily by non-cash petroleum resource rent tax estimates.
The analyst favours the stock for its strong exposure to liquefied natural gas markets, noting 30% of produced volumes are sold at spot prices.
Near-term catalysts include the imminent commencement of production at the Scarborough project alongside a potential sell-down of an additional -20% stake in the Louisiana liquefied natural gas facility, the report concludes.
This report was published on July 30, 2026.
Target price is $32.20 Current Price is $32.50 Difference: minus $0.3 (current price is over target).
If WDS meets the Jarden target it will return approximately minus 1% (excluding dividends, fees and charges – negative figures indicate an expected loss).
Current consensus price target is $30.28, suggesting downside of -6.1%(ex-dividends)
Forecast for FY26:
Current consensus EPS estimate is 269.3, implying annual growth of N/A.
Current consensus DPS estimate is 221.0, implying a prospective dividend yield of 6.9%.
Current consensus EPS estimate suggests the PER is 12.0.
Forecast for FY27:
Current consensus EPS estimate is 215.8, implying annual growth of -19.9%.
Current consensus DPS estimate is 165.8, implying a prospective dividend yield of 5.1%.
Current consensus EPS estimate suggests the PER is 14.9.
This company reports in USD. All estimates have been converted into AUD by FNArena at present FX values.
Market Sentiment: 0.0
All consensus data are updated until yesterday. FNArena’s consensus calculations require a minimum of three sources
WEB WEB TRAVEL GROUP LIMITED
Travel, Leisure & Tourism – Overnight Price: $3.51
Canaccord Genuity rates ((WEB)) as Buy (1) –
Canaccord Genuity maintains a Buy rating for Web Travel with a $5.30 target price following notice of class action proceedings served regarding continuous disclosure obligations between 21 March 2024 and 13 October 2024.
The legal action relates to historical revenue margin guidance representations, an issue previously understood by the market.
Commentary suggests direct financial risks remain minimal because standard insurance coverage extends to claims of this nature.
Insurance providers are expected to fund and manage legal proceedings while assuming ultimate financial liability.
Viewing any near-term share price weakness as sentiment-driven, the analyst considers potential pullbacks an attractive opportunity to build positions in an undervalued business backed by solid multi-year earnings prospects.
This report was published on August 2, 2026.
Target price is $5.30 Current Price is $3.51 Difference: $1.79
If WEB meets the Canaccord Genuity target it will return approximately 51% (excluding dividends, fees and charges).
Current consensus price target is $3.74, suggesting upside of 7.5%(ex-dividends)
Forecast for FY27:
Current consensus EPS estimate is 23.2, implying annual growth of 136.0%.
Current consensus DPS estimate is 2.3, implying a prospective dividend yield of 0.7%.
Current consensus EPS estimate suggests the PER is 15.0.
Forecast for FY28:
Current consensus EPS estimate is 31.3, implying annual growth of 34.9%.
Current consensus DPS estimate is 4.1, implying a prospective dividend yield of 1.2%.
Current consensus EPS estimate suggests the PER is 11.1.
Market Sentiment: 0.8
All consensus data are updated until yesterday. FNArena’s consensus calculations require a minimum of three sources
Disclaimer:
The content of this information does in no way reflect the opinions of FNArena, or of its journalists. In fact we don’t have any opinion about the stock market, its value, future direction or individual shares. FNArena solely reports about what the main experts in the market note, believe and comment on. By doing so we believe we provide experienced, intelligent investors with a valuable tool that helps them in making up their own minds, reading market trends and getting a feel for what is happening beneath the surface.
This document is provided for informational purposes only. It does not constitute an offer to sell or a solicitation to buy any security or other financial instrument. FNArena employs very experienced journalists who base their work on information believed to be reliable and accurate, though no guarantee is given that the daily report is accurate or complete. Investors should contact their personal adviser before making any investment decision.
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For more info SHARE ANALYSIS: PDI - PDI GOLD LIMITED
For more info SHARE ANALYSIS: PLS - PLS GROUP LIMITED
For more info SHARE ANALYSIS: PNR - PANTORO GOLD LIMITED
For more info SHARE ANALYSIS: PRU - PERSEUS MINING LIMITED
For more info SHARE ANALYSIS: RFF - RURAL FUNDS GROUP
For more info SHARE ANALYSIS: RMS - RAMELIUS RESOURCES LIMITED
For more info SHARE ANALYSIS: RSG - RESOLUTE MINING LIMITED
For more info SHARE ANALYSIS: SLD - SALUDA MEDICAL INC
For more info SHARE ANALYSIS: SLS - SOLSTICE MINERALS LIMITED
For more info SHARE ANALYSIS: STM - SUNSTONE METALS LIMITED
For more info SHARE ANALYSIS: VGL - VISTA GROUP INTERNATIONAL LIMITED
For more info SHARE ANALYSIS: WDS - WOODSIDE ENERGY GROUP LIMITED
For more info SHARE ANALYSIS: WEB - WEBBEDS GROUP LIMITED