Daily Market Reports | 10:31 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)
ABB AEL AGL ALD BGL BPT CMM CSL DEG EVN GMD GOR IGO JHX KAR LTR LYC MIN NEC NST (2) NWS OBM ORG PLS (2) RIO RMD RRL RWC SFR SLC STO STX TLS TPG VEA WDS
GMD GENESIS MINERALS LIMITED
Gold & Silver - Overnight Price: $2.91
Moelis rates ((GMD)) as Hold (3) -
Genesis Minerals reported 2Q25 production report which was higher than Moelis' forecasts mainly due to the commencement of production from the Laverton project. Costs were also lower which the broker assumes is due to additional production and credit from continued stockpiles.
The target price is raised to $3.05. Given the lack of greater upside to its valuation, the broker has retained the Neutral rating.
This report was published on January 16, 2025.
Target price is $3.05 Current Price is $2.91 Difference: $0.14
If GMD meets the Moelis target it will return approximately 5% (excluding dividends, fees and charges).
Current consensus price target is $3.22, suggesting upside of 10.5%(ex-dividends)
The company's fiscal year ends in June.
Forecast for FY25:
Moelis forecasts a full year FY25 dividend of 0.00 cents and EPS of 14.70 cents.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 19.80.How do these forecasts compare to market consensus projections?
Current consensus EPS estimate is 17.4, implying annual growth of 124.8%.
Current consensus DPS estimate is N/A, implying a prospective dividend yield of N/A.
Current consensus EPS estimate suggests the PER is 16.7.
Forecast for FY26:
Moelis forecasts a full year FY26 dividend of 0.00 cents and EPS of 23.80 cents.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 12.23.How do these forecasts compare to market consensus projections?
Current consensus EPS estimate is 24.3, implying annual growth of 39.7%.
Current consensus DPS estimate is N/A, implying a prospective dividend yield of N/A.
Current consensus EPS estimate suggests the PER is 12.0.
Market Sentiment: 0.8
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources
GOR GOLD ROAD RESOURCES LIMITED
Gold & Silver - Overnight Price: $2.39
Goldman Sachs rates ((GOR)) as Buy (1) -
Goldman Sachs has updated estimates for Australian gold mining coverage to reflect mark-to-market for December quarter actuals, exchange rate and gold forward curves, an increase in its long-term gold price estimate to US$2,300/oz, ongoing review of asset lives/costs, and company-specific updates.
The target price on Gold Road Resources rises to $2.65 from $2.35. Buy.
This report was published on January 13, 2025.
Target price is $2.65 Current Price is $2.39 Difference: $0.26
If GOR meets the Goldman Sachs target it will return approximately 11% (excluding dividends, fees and charges).
Current consensus price target is $2.33, suggesting downside of -2.4%(ex-dividends)
The company's fiscal year ends in December.
Forecast for FY24:
Goldman Sachs forecasts a full year FY24 dividend of 2.30 cents and EPS of 14.50 cents.
At the last closing share price the estimated dividend yield is 0.96%.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 16.48.How do these forecasts compare to market consensus projections?
Current consensus EPS estimate is 13.2, implying annual growth of 23.0%.
Current consensus DPS estimate is 1.7, implying a prospective dividend yield of 0.7%.
Current consensus EPS estimate suggests the PER is 18.1.
Forecast for FY25:
Goldman Sachs forecasts a full year FY25 dividend of 4.30 cents and EPS of 25.60 cents.
At the last closing share price the estimated dividend yield is 1.80%.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 9.34.How do these forecasts compare to market consensus projections?
Current consensus EPS estimate is 21.1, implying annual growth of 59.8%.
Current consensus DPS estimate is 3.6, implying a prospective dividend yield of 1.5%.
Current consensus EPS estimate suggests the PER is 11.3.
Market Sentiment: 1.0
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources
IGO IGO LIMITED
Nickel - Overnight Price: $5.32
Canaccord Genuity rates ((IGO)) as Sell (5) -
Canaccord Genuity reviews fundamentals for base metals and electric vehicle materials and updates forecasts for relevant stocks under research coverage.
Overall, the broker lowers its near-term copper, nickel and cobalt pricing, decreases near, mid and long-term lead pricing, and lowers
near-term spodumene and lithium chemicals pricing.
Earnings (EBITDA) revisions were generally lower for all companies under coverage on lower price assumptions, explain the analysts.
While announced cuts in the lithium market will help the balance later in 2025, the broker believes there is still supply being added to the market.
The target for IGO Ltd falls to $4.30 from $4.60. Sell maintained.
This report was published on January 9, 2025.
Target price is $4.30 Current Price is $5.32 Difference: minus $1.02 (current price is over target).
If IGO meets the Canaccord Genuity target it will return approximately minus 19% (excluding dividends, fees and charges - negative figures indicate an expected loss).
Current consensus price target is $5.46, suggesting upside of 2.6%(ex-dividends)
Forecast for FY25:
Current consensus EPS estimate is 5.6, implying annual growth of 1413.5%.
Current consensus DPS estimate is 7.3, implying a prospective dividend yield of 1.4%.
Current consensus EPS estimate suggests the PER is 95.0.
Forecast for FY26:
Current consensus EPS estimate is 18.9, implying annual growth of 237.5%.
Current consensus DPS estimate is 10.2, implying a prospective dividend yield of 1.9%.
Current consensus EPS estimate suggests the PER is 28.1.
Market Sentiment: 0.0
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources
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