Australian Broker Call *Extra* Edition – Dec 19, 2023

This story features AUCKLAND INTERNATIONAL AIRPORT LIMITED, and other companies. For more info SHARE ANALYSIS: AIA

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

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

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

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

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

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

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

COMPANIES DISCUSSED IN THIS ISSUE

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

AIA   BSE   CGC   DYL   FBU   GNP   HUB   IGO   LNW   PNR   RGN   SPR   TCL   WR1  

AIA    AUCKLAND INTERNATIONAL AIRPORT LIMITED

Infrastructure & Utilities – Overnight Price: $7.84

Jarden rates ((AIA)) as Downgrade to Underweight from Neutral (4) –

Jarden highlights a favourable weighted average cost of capital (WACC) outcome for Auckland International Airport from a review of PSE4 pricing.

The review was a part of the New Zealand Commerce Commission's final decision in its seven-yearly review of the input methodologies for regulated airports.

The broker's target price for Auckland International Airport is increased to NZ$7.71 from NZ$7.53 after the analyst assumes modestly higher returns and rolls forward the financial model for the company.

Jarden downgrades its rating to Underweight from Neutral on valuation given a recent share price rally.

This report was published on December 18, 2023.

Current Price is $7.84. Target price not assessed.
Current consensus price target is $7.85, suggesting upside of 0.1%(ex-dividends)
The company's fiscal year ends in June.

Forecast for FY24:

Jarden forecasts a full year FY24 dividend of 13.13 cents and EPS of 16.46 cents.
At the last closing share price the estimated dividend yield is 1.67%.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 47.63.

How do these forecasts compare to market consensus projections?

Current consensus EPS estimate is 18.0, implying annual growth of N/A.
Current consensus DPS estimate is 14.0, implying a prospective dividend yield of 1.8%.
Current consensus EPS estimate suggests the PER is 43.6.

Forecast for FY25:

Jarden forecasts a full year FY25 dividend of 14.89 cents and EPS of 18.68 cents.
At the last closing share price the estimated dividend yield is 1.90%.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 41.97.

How do these forecasts compare to market consensus projections?

Current consensus EPS estimate is 20.8, implying annual growth of 15.6%.
Current consensus DPS estimate is 15.9, implying a prospective dividend yield of 2.0%.
Current consensus EPS estimate suggests the PER is 37.7.

This company reports in NZD. 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

BSE    BASE RESOURCES LIMITED

Mineral Sands – Overnight Price: $0.12

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

A pre-feasibility study for Base Resources' planned Toliara project has evaluated the possibility of recovering the monazite waste stream. The study outlined a potential 21.8kt per annum, at an average 90% monazite production, over a 38-year mine life.

According to Canaccord Genuity the site offers one of the highest REO:TREO ratios among pre-production rare earth elements projects globally, at a 59:24.5 ratio. The broker calculates the monazite component doubles the net present value of the project.

The Speculative Buy rating and target price of 70 cents are retained.

This report was published on December 14, 2023.

Target price is $0.70 Current Price is $0.12 Difference: $0.575
If BSE meets the Canaccord Genuity target it will return approximately 460% (excluding dividends, fees and charges).
The company's fiscal year ends in June.

Forecast for FY24:

Canaccord Genuity forecasts a full year FY24 dividend of 0.60 cents and EPS of minus 1.81 cents.
At the last closing share price the estimated dividend yield is 4.82%.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is minus 6.91.

Forecast for FY25:

Canaccord Genuity forecasts a full year FY25 dividend of 0.00 cents and EPS of minus 1.21 cents.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is minus 10.37.

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

CGC    COSTA GROUP HOLDINGS LIMITED

Agriculture – Overnight Price: $3.11

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

Costa Group has (again) cut FY23 guidance due to weather and pricing impacts across citrus, berry and tomato crops, explains Jarden.

In the broker's view, this downgrade won't be labeled a material adverse event under section 7.11 of the scheme document relating to the takeover bid by Paine Schwartz Partners.

The analysts see a higher probability of the deal proceeding now that the scheme document has been lodged, the board has approved the recommendation and the scheme will be submitted to a vote by Costa shareholders on January 30.

The target rises to $3.16 from $3.08. Overweight.

This report was published on December 12, 2023.

Target price is $3.16 Current Price is $3.11 Difference: $0.05
If CGC meets the Jarden target it will return approximately 2% (excluding dividends, fees and charges).
Current consensus price target is $3.11, suggesting upside of 1.4%(ex-dividends)
The company's fiscal year ends in December.

Forecast for FY23:

Jarden forecasts a full year FY23 EPS of 2.90 cents.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 107.24.

How do these forecasts compare to market consensus projections?

Current consensus EPS estimate is 3.0, implying annual growth of -58.6%.
Current consensus DPS estimate is 6.6, implying a prospective dividend yield of 2.1%.
Current consensus EPS estimate suggests the PER is 103.7.

Forecast for FY24:

Jarden forecasts a full year FY24 EPS of 6.80 cents.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 45.74.

How do these forecasts compare to market consensus projections?

Current consensus EPS estimate is 11.2, implying annual growth of 273.3%.
Current consensus DPS estimate is 8.5, implying a prospective dividend yield of 2.7%.
Current consensus EPS estimate suggests the PER is 27.8.

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

DYL    DEEP YELLOW LIMITED

Uranium – Overnight Price: $1.01

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

Following the release of the updated costing study for the Tumas uranium project in Namibia, Canaccord Genuity's $1.44 target for Deep Yellow is unchanged as a lower capex forecast is offset by a higher opex estimate.

The broker assesses the update is positive given the inflationary backdrop. Given a relatively undemanding valuation and the ongoing progress of incremental projects like Mulga Rock, the analyst retains a Speculative Buy rating.

Management is targeting the 3Q of 2024 for the final investment decision (FID). Canaccord feels the project's around 18-month lead time aligns nicely with the current structural supply shortage of uranium.

This report was published on December 13, 2023.

Target price is $1.44 Current Price is $1.01 Difference: $0.43
If DYL meets the Canaccord Genuity target it will return approximately 43% (excluding dividends, fees and charges).
The company's fiscal year ends in June.

Forecast for FY24:

Canaccord Genuity forecasts a full year FY24 dividend of 0.00 cents and EPS of minus 1.20 cents.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is minus 84.17.

Forecast for FY25:

Canaccord Genuity forecasts a full year FY25 dividend of 0.00 cents and EPS of minus 2.20 cents.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is minus 45.91.

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

FBU    FLETCHER BUILDING LIMITED

Building Products & Services – Overnight Price: $4.43

Jarden rates ((FBU)) as Buy (1) –

Jarden reduces its target price for Fletcher Building to NZ$6.13 from NZ$6.20 after assuming a slightly higher risk of exposure to an Iplex recall/remediation costs. The Iplex pipeline solutions business is owned by Fletcher Building.

The broker recently hosted builder BGC to provide an update (from the October 2023 market release) concerning its claim relating to the Iplex pipe-busting issues in Western Australia.

The analysts note Fletcher Building cannot or will not update the market on the progression of their argument. The company believes the issue relates to installation and is therefore not the fault of the product.

The Buy rating is unchanged.

This report was published on December 14, 2023.

Current Price is $4.43. Target price not assessed.
Current consensus price target is $5.37, suggesting upside of 21.1%(ex-dividends)
The company's fiscal year ends in June.

Forecast for FY24:

Jarden forecasts a full year FY24 dividend of 29.59 cents and EPS of 40.50 cents.
At the last closing share price the estimated dividend yield is 6.68%.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 10.94.

How do these forecasts compare to market consensus projections?

Current consensus EPS estimate is 40.4, implying annual growth of N/A.
Current consensus DPS estimate is 28.0, implying a prospective dividend yield of 6.3%.
Current consensus EPS estimate suggests the PER is 11.0.

Forecast for FY25:

Jarden forecasts a full year FY25 dividend of 29.59 cents and EPS of 46.05 cents.
At the last closing share price the estimated dividend yield is 6.68%.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 9.62.

How do these forecasts compare to market consensus projections?

Current consensus EPS estimate is 38.2, implying annual growth of -5.4%.
Current consensus DPS estimate is 26.1, implying a prospective dividend yield of 5.9%.
Current consensus EPS estimate suggests the PER is 11.6.

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

GNP    GENUSPLUS GROUP LIMITED

Infrastructure & Utilities – Overnight Price: $1.20

Moelis rates ((GNP)) as Initiation of coverage with Buy (1) –

Given the rewiring of Australia presents a generational structural opportunity, Moelis initiates coverage on electrical infrastructure service provider GenusPlus Group with a Buy rating and $1.56 target.

The group's three segments of Infrastructure, Industrial Services and Communications comprised 69%, 17% and 14%, respectively, of FY23 revenue.

Infrastructure includes planning, design, construction, operation, testing, maintenance, management and decommissioning of power network assets.

GenusPlus has successfully diversified into the East Coast and grown revenue at a 55% compound annual growth rate (CAGR) over FY09-FY23, highlights Moelis.

Along with replacement of aging assets, the broker points out the need for an additional 10,000km for the transmission network in Australia.

This report was published on December 13, 2023.

Target price is $1.56 Current Price is $1.20 Difference: $0.36
If GNP meets the Moelis target it will return approximately 30% (excluding dividends, fees and charges).
The company's fiscal year ends in June.

Forecast for FY24:

Moelis forecasts a full year FY24 dividend of 2.50 cents and EPS of 9.60 cents.
At the last closing share price the estimated dividend yield is 2.08%.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 12.50.

Forecast for FY25:

Moelis forecasts a full year FY25 dividend of 3.10 cents and EPS of 12.00 cents.
At the last closing share price the estimated dividend yield is 2.58%.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 10.00.

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

HUB    HUB24 LIMITED

Wealth Management & Investments – Overnight Price: $34.25

Moelis rates ((HUB)) as Initiation of coverage with Hold (3) –

Moelis initiates coverage on specialty platform provider Hub24 with a Hold rating and price target of $36.88.

Advisor growth has been circa 28% from 2017 to 2023 underpinning strong Platform funds under administration (FUA) growth of around 56% over the same period.

A key factor in Hub24's success, according to the broker, is industry leading product development, resulting in better, all-encompassing software-as-a-service, at competitive rate cards.

The analyst believes platform FUA growth should be strong for the long-term, underpinned by a growing superannuation asset and investment pool. Intergenerational wealth transfer and an increasing demand for platform services are considered further tailwinds.

This report was published on December 14, 2023.

Target price is $36.88 Current Price is $34.25 Difference: $2.63
If HUB meets the Moelis target it will return approximately 8% (excluding dividends, fees and charges).
Current consensus price target is $35.66, suggesting upside of 4.1%(ex-dividends)
The company's fiscal year ends in June.

Forecast for FY24:

Moelis forecasts a full year FY24 dividend of 40.40 cents and EPS of 80.80 cents.
At the last closing share price the estimated dividend yield is 1.18%.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 42.39.

How do these forecasts compare to market consensus projections?

Current consensus EPS estimate is 82.9, implying annual growth of 73.8%.
Current consensus DPS estimate is 37.6, implying a prospective dividend yield of 1.1%.
Current consensus EPS estimate suggests the PER is 41.3.

Forecast for FY25:

Moelis forecasts a full year FY25 dividend of 53.70 cents and EPS of 107.40 cents.
At the last closing share price the estimated dividend yield is 1.57%.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 31.89.

How do these forecasts compare to market consensus projections?

Current consensus EPS estimate is 105.0, implying annual growth of 26.7%.
Current consensus DPS estimate is 47.7, implying a prospective dividend yield of 1.4%.
Current consensus EPS estimate suggests the PER is 32.6.

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

IGO    IGO LIMITED

Nickel – Overnight Price: $8.87

Canaccord Genuity rates ((IGO)) as Sell (5) –

As per an update from IGO, work on the shaft at Cosmos has halted pending the release of a delayed review. The company intends to run trucks as an interim ore haulage solution. The review had been expected to be complete ahead of a December update.

Canaccord Genuity expects the market to be left with more questions than answers from the limited detail provided by IGO. The broker expects an underutilised mill will create an unprofitable operation, and shareholder feedback appears supportive of a mine closure.

The Sell rating is retained and the target price decreases to $7.00 from $8.00.

This report was published on December 14, 2023.

Target price is $7.00 Current Price is $8.87 Difference: minus $1.87 (current price is over target).
If IGO meets the Canaccord Genuity target it will return approximately minus 21% (excluding dividends, fees and charges – negative figures indicate an expected loss).
Current consensus price target is $10.52, suggesting upside of 18.6%(ex-dividends)
The company's fiscal year ends in June.

Forecast for FY24:

Canaccord Genuity forecasts a full year FY24 dividend of 20.00 cents and EPS of 88.00 cents.
At the last closing share price the estimated dividend yield is 2.25%.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 10.08.

How do these forecasts compare to market consensus projections?

Current consensus EPS estimate is 121.4, implying annual growth of 67.4%.
Current consensus DPS estimate is 24.6, implying a prospective dividend yield of 2.8%.
Current consensus EPS estimate suggests the PER is 7.3.

Forecast for FY25:

Canaccord Genuity forecasts a full year FY25 dividend of 35.00 cents and EPS of 99.00 cents.
At the last closing share price the estimated dividend yield is 3.95%.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 8.96.

How do these forecasts compare to market consensus projections?

Current consensus EPS estimate is 114.5, implying annual growth of -5.7%.
Current consensus DPS estimate is 31.2, implying a prospective dividend yield of 3.5%.
Current consensus EPS estimate suggests the PER is 7.7.

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

LNW    LIGHT & WONDER INC

Gaming – Overnight Price: $125.89

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

Despite initial scepticism by the market, Jarden believes the aspirational target set by management at Light & Wonder for adjusted earnings (EBITDA) of US$1.4bn in FY25 is real and achievable.

Following a period of operational outperformance by the company, the broker points out the the consensus forecast is still -5% shy of this target.

Jarden sees potential for a further positive re-rate of the Light & Wonder share price to a premium multiple more akin to that of Aristocrat Leisure ((ALL)).

The Overweight rating and target price of $141.00 are retained.

This report was published on December 13, 2023.

Target price is $141.00 Current Price is $125.89 Difference: $15.11
If LNW meets the Jarden target it will return approximately 12% (excluding dividends, fees and charges).
The company's fiscal year ends in December.

Forecast for FY23:

Jarden forecasts a full year FY23 dividend of 0.00 cents and EPS of 158.90 cents.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 79.23.

Forecast for FY24:

Jarden forecasts a full year FY24 dividend of 0.00 cents and EPS of 372.90 cents.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 33.76.

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

PNR    PANTORO LIMITED

Gold & Silver – Overnight Price: $0.05

Petra Capital rates ((PNR)) as Buy (1) –

Despite a slight decrease in month-on-month gold output at Norseman, it's clear to Petra Capital the Scotia open pit grades are improving materially as the pit deepens.

When also taking into account ongoing strong results from Pantoro's OK underground mine, the broker anticipates solid production and free cash flow (FCF) in the 2H of FY24.

The target eases to 13c from 14c. Buy.

This report was published on December 13, 2023.

Target price is $0.13 Current Price is $0.05 Difference: $0.079
If PNR meets the Petra Capital target it will return approximately 155% (excluding dividends, fees and charges).
The company's fiscal year ends in June.

Forecast for FY24:

Petra Capital forecasts a full year FY24 dividend of 0.00 cents and EPS of 0.00 cents.

Forecast for FY25:

Petra Capital forecasts a full year FY25 dividend of 0.00 cents and EPS of 0.50 cents.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 10.20.

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

RGN    REGION GROUP

REITs – Overnight Price: $2.29

Moelis rates ((RGN)) as Buy (1) –

Total divestments by Region Group so far in FY24 now tally $53.7m, notes Moelis, at an average cap rate of 5.44% and an average -2.7% discount to June's book value.

The REIT's weighted average cost of capital (WACC) has increased to 6.04% from 5.43% in the past 18 months, while like-for-like property values have fallen by -2% in the past six months, highlights the broker.

The analyst anticipates Region Group will be relatively resilient in the face of rising pressures on the consumer, given the non-discretionary nature of spending linked to the group's shopping centre portfolio. 

The Buy rating is unchanged and the target falls to $2.54 from $2.66.

This report was published on December 13, 2023.

Target price is $2.54 Current Price is $2.29 Difference: $0.25
If RGN meets the Moelis target it will return approximately 11% (excluding dividends, fees and charges).
Current consensus price target is $2.41, suggesting upside of 5.4%(ex-dividends)
The company's fiscal year ends in June.

Forecast for FY24:

Moelis forecasts a full year FY24 dividend of 13.70 cents and EPS of 15.60 cents.
At the last closing share price the estimated dividend yield is 5.98%.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 14.68.

How do these forecasts compare to market consensus projections?

Current consensus EPS estimate is 15.5, implying annual growth of N/A.
Current consensus DPS estimate is 13.8, implying a prospective dividend yield of 6.0%.
Current consensus EPS estimate suggests the PER is 14.8.

Forecast for FY25:

Moelis forecasts a full year FY25 dividend of 13.80 cents and EPS of 15.70 cents.
At the last closing share price the estimated dividend yield is 6.03%.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 14.59.

How do these forecasts compare to market consensus projections?

Current consensus EPS estimate is 15.5, implying annual growth of N/A.
Current consensus DPS estimate is 13.8, implying a prospective dividend yield of 6.0%.
Current consensus EPS estimate suggests the PER is 14.8.

Market Sentiment: 0.2
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources

SPR    SPARTAN RESOURCES LIMITED

Gold & Silver – Overnight Price: $0.47

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

A resource update is due soon by Spartan Resources, notes Canaccord Genuity, following the release of further high grade results from the ongoing drill program at the Never Never deposit within the Dalgaranga project in WA.

According to management, work on the resource update is well advanced and will include both the Never Never deposit and the Gilbey's complex, along with the Four Pillars and West Winds deposits.

The broker's Speculative Buy rating and target price of 60 cents are retained.

This report was published on December 13, 2023.

Target price is $0.60 Current Price is $0.47 Difference: $0.13
If SPR 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 FY23:

Canaccord Genuity forecasts a full year FY23 dividend of 0.00 cents and EPS of minus 9.00 cents.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is minus 5.22.

Forecast for FY24:

Canaccord Genuity forecasts a full year FY24 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 47.00.

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

TCL    TRANSURBAN GROUP LIMITED

Infrastructure & Utilities – Overnight Price: $13.64

Goldman Sachs rates ((TCL)) as Neutral (3) –

Transurban Group's 1H distribution of 30 cents per stapled security missed forecasts by Goldman Sachs and consensus by around -3% and -1%, respectively.

While FY24 distribution guidance of 62 cents per stapled security was reaffirmed, the broker points out management has historically delivered at or above guidance.

The FY24 guidance implies to the analysts a dividend yield (on the December 13 share price) of around 4.7%.

The Neutral rating and $13.10 target are maintained.

This report was published on December 14, 2023.

Target price is $13.10 Current Price is $13.64 Difference: minus $0.54 (current price is over target).
If TCL meets the Goldman Sachs target it will return approximately minus 4% (excluding dividends, fees and charges – negative figures indicate an expected loss).
Current consensus price target is $14.01, suggesting upside of 2.7%(ex-dividends)
The company's fiscal year ends in June.

Forecast for FY24:

Goldman Sachs forecasts a full year FY24 dividend of 63.00 cents and EPS of 21.00 cents.
At the last closing share price the estimated dividend yield is 4.62%.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 64.95.

How do these forecasts compare to market consensus projections?

Current consensus EPS estimate is 26.5, implying annual growth of 1174.0%.
Current consensus DPS estimate is 63.1, implying a prospective dividend yield of 4.6%.
Current consensus EPS estimate suggests the PER is 51.5.

Forecast for FY25:

Goldman Sachs forecasts a full year FY25 dividend of 67.00 cents and EPS of 20.00 cents.
At the last closing share price the estimated dividend yield is 4.91%.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 68.20.

How do these forecasts compare to market consensus projections?

Current consensus EPS estimate is 32.4, implying annual growth of 22.3%.
Current consensus DPS estimate is 64.9, implying a prospective dividend yield of 4.8%.
Current consensus EPS estimate suggests the PER is 42.1.

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

WR1    WINSOME RESOURCES LIMITED

New Battery Elements – Overnight Price: $1.06

Canaccord Genuity rates ((WR1)) as Speculative Buy (1) –

Winsome Resources has released a maiden lithium resource at its Adina asset in Quebec totaling 59mt at 1.12% (100% inferred), at a cut-off grade of 0.6%. These results exceed Canaccord Genuity's forecast for 55mt at 1.17% (cut-off of 0.5%).

This outcome not only materially de-risks the in-situ resource value at Adina, believes the broker, but also places the project among the top five largest resources in Canada.

Adina is also one of the largest maiden resources for a lithium hard rock project globally, points out Canaccord, which suggests the project has now achieved the scale to warrant potential project development. The Speculative Buy rating and $3.00 target are unchanged.

This report was published on December 12, 2023.

Target price is $3.00 Current Price is $1.06 Difference: $1.94
If WR1 meets the Canaccord Genuity target it will return approximately 183% (excluding dividends, fees and charges).
The company's fiscal year ends in June.

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

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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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