Daily Market Reports | 10:30 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.
Investors using the *Extra* Edition as a source of input for their own share market research should thus take into account that information after publication may not be up to date, or yet awaiting another update by FNArena's team of journalists.
Similar to The Australian Broker Call Report, this *Extra* Edition includes concise but limited reviews of research recently published by Stockbrokers and other experts, which should be considered as information concerning likely market behaviour rather than advice on the securities mentioned. Do not act on the contents of this Report without first reading the important information included at the end of this Report.
The Australian Broker Call *Extra* Edition is a summary that has been prepared independently of the sources identified. Readers will check the full text of the recommendations and consult a Licenced Advisor before making any investment decision.
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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)
29M A1M ASX BGL BPT (2) CBE GMD HUB KAN MAF (2) NAB NCK NST NWL PLS PNR SIG SKY TLX VAU WDS WGX
VAU VAULT MINERALS LIMITED
Gold & Silver - Overnight Price: $5.57
Moelis rates ((VAU)) as Buy (1) -
Moelis maintains a Buy rating for Vault Minerals with a $7.60 target price following a September quarter production report featuring softer operational metrics across all assets.
Production reached 79.1koz of gold at an all-in sustaining cost of $3,529 per ounce while closing cash settled at $876.4m after paying a -$50m break fee to Regis Resources ((RRL)).
Processing plant upgrades at KOTH completed commissioning phases recently despite weather interruptions and lower contractor manning levels affecting mining output.
Media reports suggest potential divestments of non-core assets including Mount Monger, Deflector, and Sugar Zone post-completion of the Genesis Minerals ((GMD)) acquisition.
Moelis states share price performance remains primarily driven by the acquisition terms rather than standalone quarterly results.
This report was published on October 22, 2026.
Target price is $7.60 Current Price is $5.57 Difference: $2.03
If VAU meets the Moelis target it will return approximately 36% (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
WDS WOODSIDE ENERGY GROUP LIMITED
NatGas - Overnight Price: $32.77
Jarden rates ((WDS)) as Overweight (2) -
Jarden maintains an Overweight rating for Woodside Energy with its target price decreased to $34.00 from $34.40 following a September quarter update detailing a 12% sequential increase in production to 46.2mmboe.
Strong operational uptime across the Pluto and Bass Strait assets drove the production beat, yet sales revenue of US$4.3bn fell -10% below consensus estimates due to weaker realised equity LNG pricing of US$13.3/mmbtu.
The company narrowed 2026 production guidance to 174mmboe to 181mmboe after factoring in a 30-day safety shutdown at Beaumont and a narrowing window for the first Scarborough LNG cargo delivery.
The analyst trims near-term revenue estimates but anticipates a positive market reception at the upcoming November Capital Markets Day, where revised capital allocation and free cash flow payout frameworks will be presented.
This report was published on October 21, 2026.
Target price is $34.00 Current Price is $32.77 Difference: $1.23
If WDS meets the Jarden target it will return approximately 4% (excluding dividends, fees and charges).
Current consensus price target is $31.91, suggesting downside of -2.6%(ex-dividends)
The company's fiscal year ends in December.
Forecast for FY26:
Jarden forecasts a full year FY26 dividend of 207.14 cents and EPS of 255.32 cents.
At the last closing share price the estimated dividend yield is 6.32%.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 12.83.How do these forecasts compare to market consensus projections?
Current consensus EPS estimate is 299.7, implying annual growth of N/A.
Current consensus DPS estimate is 227.6, implying a prospective dividend yield of 6.9%.
Current consensus EPS estimate suggests the PER is 10.9.
Forecast for FY27:
Jarden forecasts a full year FY27 dividend of 268.99 cents and EPS of 335.01 cents.
At the last closing share price the estimated dividend yield is 8.21%.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 9.78.How do these forecasts compare to market consensus projections?
Current consensus EPS estimate is 365.3, implying annual growth of 21.9%.
Current consensus DPS estimate is 278.5, implying a prospective dividend yield of 8.5%.
Current consensus EPS estimate suggests the PER is 9.0.
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
WGX WESTGOLD RESOURCES LIMITED
Gold & Silver - Overnight Price: $5.16
Canaccord Genuity rates ((WGX)) as Buy (1) -
Canaccord Genuity maintains a Buy rating for Westgold Resources with a target price of $7.00 following a steady first-quarter production report of 98.4koz and an underlying cash and bullion increase of $49m to $828m.
The analyst highlights that Murchison operations exceeded expectations with 71.9koz produced, while Southern Goldfields advanced as Beta Hunt achieved a 2Mtpa annualised mining rate.
Total AISC expenditure declined to -$301m supported by a larger inventory credit of $49m, and FY27 production and cost guidance remains unchanged.
Canaccord updates its earnings model to incorporate minor production profile changes, forecasting FY27 production of 409koz at an AISC of $3,196/oz.
This report was published on October 21, 2026.
Target price is $7.00 Current Price is $5.16 Difference: $1.84
If WGX meets the Canaccord Genuity target it will return approximately 36% (excluding dividends, fees and charges).
Current consensus price target is $7.82, suggesting upside of 51.5%(ex-dividends)
The company's fiscal year ends in June.
Forecast for FY27:
Canaccord Genuity forecasts a full year FY27 dividend of 3.00 cents and EPS of 66.00 cents.
At the last closing share price the estimated dividend yield is 0.58%.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 7.82.How do these forecasts compare to market consensus projections?
Current consensus EPS estimate is 72.2, implying annual growth of 53.7%.
Current consensus DPS estimate is 9.0, implying a prospective dividend yield of 1.7%.
Current consensus EPS estimate suggests the PER is 7.1.
Forecast for FY28:
Canaccord Genuity forecasts a full year FY28 dividend of 7.00 cents and EPS of 83.00 cents.
At the last closing share price the estimated dividend yield is 1.36%.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 6.22.How do these forecasts compare to market consensus projections?
Current consensus EPS estimate is 67.6, implying annual growth of -6.4%.
Current consensus DPS estimate is 11.7, implying a prospective dividend yield of 2.3%.
Current consensus EPS estimate suggests the PER is 7.6.
Market Sentiment: 1.0
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.