Daily Market Reports | 10:45 AM
An additional news report on the recommendation, valuation, forecast and opinion changes and updates for ASX-listed equities.
In addition to The Australian Broker Call Report, which is published and updated daily (Mon-Fri), FNArena has now added The Australian Broker Call *Extra* Edition, featuring additional sources of research and insights on ASX-listed stocks, also enlarging the number of stocks that make up the FNArena universe.
One key difference is the *Extra* Edition will not be updated daily, but merely "regularly" depending on availability of suitable quality content. As such, the *Extra* Edition tries to build a bridge between daily updates via the Australian Broker Call Report and ad hoc news stories, that are not always timely for investors hungry for the next information update.
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COMPANIES DISCUSSED IN THIS ISSUE
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The number next to the symbol represents the number of brokers covering it for this report -(if more than 1)
AAR AEL BGD BUB CSL DNL ELV KCN LRV NXT POL SHV
AAR ASTRAL RESOURCES NL
Gold & Silver - Overnight Price: $0.20
Shaw and Partners rates ((AAR)) as Buy (1) -
Shaw and Partners maintains a Buy rating for Astral Resources with a $0.30 target price following the release of assay results from the ongoing reverse circulation infill drilling program at the Theia deposit.
The latest batch of 41 holes returned a weighted average grade of 1.54g/t gold, comfortably exceeding the 1.1g/t gold grade underpinning the Stage 1 open pit in the pre-feasibility study.
Standout intercepts included 7m at 10.4g/t gold and a single hole with a diamond tail from the Theia Deeps programme returning 1m at 219g/t gold.
The analyst notes the consistency of results across the expanding drill database serves to de-risk the project, with the Stage 1 infill program designed to convert resources to Measured status in support of the definitive feasibility study and project financing.
Shaw views the combination of a growing 2.07m ounce group-wide resource base, strong infill grades, pending assays from the 431-hole programme, and early mining opportunities at Think Big as positioning the business well ahead of the definitive feasibility study targeted for the March quarter of 2027.
This report was published on September 9, 2026.
Target price is $0.30 Current Price is $0.20 Difference: $0.095
If AAR meets the Shaw and Partners target it will return approximately 46% (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 0.10 cents.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is minus 205.00.
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 68.33.
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources
AEL AMPLITUDE ENERGY LIMITED
Crude Oil - Overnight Price: $1.80
Jarden rates ((AEL)) as Overweight (2) -
Jarden maintains an Overweight rating for Amplitude Energy with its target price increased to $2.03 from $1.85 following a successful gas intersection at the Juliet exploration well within the offshore Otway Basin.
The well encountered 49 metres of net pay across the primary Waare C sandstone target and completed ahead of schedule and under budget.
The interpreted gas-water contact sits below total depth, indicating upside potential to the pre-drill 46.4 Bcf gross volume estimate.
The analyst views the outcome as a significant de-risking event for the East Coast Supply Project, subsequently applying a 50% risk-weighting to the 36c per share unrisked Juliet valuation.
Jarden anticipates upcoming wireline testing and clean-up operations will confirm commercial viability and potentially trigger the joint venture to sanction the nearby Nestor prospect.
This report was published on September 8, 2026.
Target price is $2.03 Current Price is $1.80 Difference: $0.23
If AEL meets the Jarden target it will return approximately 13% (excluding dividends, fees and charges).
Current consensus price target is $2.59, suggesting upside of 43.8%(ex-dividends)
The company's fiscal year ends in June.
Forecast for FY27:
Jarden forecasts a full year FY27 dividend of 0.00 cents and EPS of 14.30 cents.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 12.59.How do these forecasts compare to market consensus projections?
Current consensus EPS estimate is 17.6, implying annual growth of N/A.
Current consensus DPS estimate is N/A, implying a prospective dividend yield of N/A.
Current consensus EPS estimate suggests the PER is 10.2.
Forecast for FY28:
Jarden forecasts a full year FY28 dividend of 0.00 cents and EPS of 18.80 cents.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 9.57.How do these forecasts compare to market consensus projections?
Current consensus EPS estimate is 24.7, implying annual growth of 40.3%.
Current consensus DPS estimate is N/A, implying a prospective dividend yield of N/A.
Current consensus EPS estimate suggests the PER is 7.3.
Market Sentiment: 1.0
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources
BGD BARTON GOLD HOLDINGS LIMITED
Gold & Silver - Overnight Price: $1.13
Canaccord Genuity rates ((BGD)) as Speculative Buy (1) -
Canaccord Genuity maintains a Speculative Buy rating for Barton Gold with a $2.05 target price following South Australian regulatory approval of the Environmental Scoping Report for the Tunkillia project.
The approval establishes official terms of reference for environmental studies and stakeholder engagement, marking the initial formal milestone in the Mining Lease process.
The analyst views the milestone as providing greater regulatory clarity ahead of an updated mineral resource estimate and preliminary feasibility study scheduled for the March quarter of 2027.
Resource upgrade drilling of 58,000m has concluded, with pending assays offering potential upside following recent high-grade discoveries across new zones.
The project's scoping study outlines an eight-year, 5Mtpa open-pit operation producing 942koz of gold at an all-in sustaining cost of $2,172 per ounce, with an estimated initial pre-production capital expenditure of $452m.
This report was published on September 8, 2026.
Target price is $2.05 Current Price is $1.13 Difference: $0.92
If BGD meets the Canaccord Genuity target it will return approximately 81% (excluding dividends, fees and charges).
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources
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