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.
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)
ADT AEE AGE AGY ALK ARL ARU ASN AZL BCB BGL BKT BLU BMN BRE CEL CNB COI CXO FEX GLN HZN JIN LFG LIN LOT MAY MEI MMC MMI NST NWC ORI PDI PNR PPM QPM RED RHK RMC RMS RNU RSG SBM SFX SHL SMR SPR STN STX SUN SYA TLG TTM WDS WGX
TLG TALGA GROUP LIMITED
New Battery Elements - Overnight Price: $0.53
Petra Capital rates ((TLG)) as Buy (1) -
Petra Capital updates forecasts for the latest mark-to-market commodity assumptions.
The new price forecasts are Gold US$2386oz; Copper US$4.45lb; Lead US0.99c/lb; Zinc US$1.34lb; Nickel US$7.79/lb; Brent crude US$86.90bbl; Uranium US$85lb; Spodumene US$1040t; NdPr US$50kg; Graphite US$470t; Thermal Coal US$132t; Coking Coal US$256t; Iron Ore US$110t; Bauxite US$55t. Currency AUD/USD 0.675.
Target price unchanged at $1.06 and Buy rating.
This report was published on July 9, 2024.
Target price is $1.06 Current Price is $0.53 Difference: $0.535
If TLG meets the Petra Capital target it will return approximately 102% (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 minus 8.60 cents.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is minus 6.10.
Forecast for FY25:
Petra Capital forecasts a full year FY25 dividend of 0.00 cents and EPS of minus 1.60 cents.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is minus 32.81.
Market Sentiment: 1.0
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources
TTM TITAN MINERALS LIMITED
Gold & Silver - Overnight Price: $0.05
Canaccord Genuity rates ((TTM)) as Speculative Buy (1) -
Canaccord Genuity anticipates further upside for both the gold price and gold equities supported by pending rate cuts and strong margin growth, respectively.
The broker raises its 2024-29 gold price forecasts by an average of 3.4% and increases the long-term (from 2030) estimate by 5% to US$2,712/oz. For silver, the long-term price is increased by 20% to US$33.58/oz.
Across Canaccord's research coverage of developers and explorers, price targets rise by 3% on average, after FY25 and FY26 earnings (EBITDA) forecasts increase by 2% and 3%, respectively, on the higher gold price estimates.
The Speculative Buy rating is kept for developer/explorer Titan Minerals and the target falls to 13c from 14c.
This report was published on July 11, 2024.
Target price is $0.13 Current Price is $0.05 Difference: $0.082
If TTM meets the Canaccord Genuity target it will return approximately 171% (excluding dividends, fees and charges).
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: $29.37
Jarden rates ((WDS)) as Neutral (3) -
Jarden expects a 3% increase in the June quarter production for Woodside Energy to 46.4mboe due to a higher seasonal output from Bass Strait.
Jarden forecasts a 2H24 Brent Oil price of US$85bbl.
The Neutral rating is retained, while the target price is lowered to $29.15 from $29.23.
This report was published on July 5, 2024.
Target price is $29.15 Current Price is $29.37 Difference: minus $0.22 (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 $32.36, suggesting upside of 10.2%(ex-dividends)
The company's fiscal year ends in December.
Forecast for FY24:
Jarden forecasts a full year FY24 dividend of 157.04 cents and EPS of 198.66 cents.
At the last closing share price the estimated dividend yield is 5.35%.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 14.78.How do these forecasts compare to market consensus projections?
Current consensus EPS estimate is 190.0, implying annual growth of N/A.
Current consensus DPS estimate is 151.8, implying a prospective dividend yield of 5.2%.
Current consensus EPS estimate suggests the PER is 15.5.
Forecast for FY25:
Jarden forecasts a full year FY25 dividend of 163.14 cents and EPS of 221.68 cents.
At the last closing share price the estimated dividend yield is 5.55%.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 13.25.How do these forecasts compare to market consensus projections?
Current consensus EPS estimate is 185.7, implying annual growth of -2.3%.
Current consensus DPS estimate is 147.9, implying a prospective dividend yield of 5.0%.
Current consensus EPS estimate suggests the PER is 15.8.
This company reports in USD. 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
WGX WESTGOLD RESOURCES LIMITED
Gold & Silver - Overnight Price: $2.67
Petra Capital rates ((WGX)) as Buy (1) -
Petra Capital updates forecasts for the latest mark-to-market commodity assumptions.
The new price forecasts are Gold US$2386oz; Copper US$4.45lb; Lead US0.99c/lb; Zinc US$1.34lb; Nickel US$7.79/lb; Brent crude US$86.90bbl; Uranium US$85lb; Spodumene US$1040t; NdPr US$50kg; Graphite US$470t; Thermal Coal US$132t; Coking Coal US$256t; Iron Ore US$110t; Bauxite US$55t. Currency AUD/USD 0.675.
Target price $2.98 from $2.67 with a Buy rating.
This report was published on July 9, 2024.
Target price is $2.98 Current Price is $2.67 Difference: $0.31
If WGX meets the Petra Capital target it will return approximately 12% (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 2.00 cents and EPS of 12.20 cents.
At the last closing share price the estimated dividend yield is 0.75%.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 21.89.
Forecast for FY25:
Petra Capital forecasts a full year FY25 dividend of 10.00 cents and EPS of 21.00 cents.
At the last closing share price the estimated dividend yield is 3.75%.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 12.71.
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.
Decisions about inclusions in this Report are made independently of the providers of stock market research and at full discretion of the team of journalists responsible for content at FNArena. Inclusion does not equal endorsement, in any way, shape or form. This Report is provided for informational purposes only.
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