Australian Broker Call *Extra* Edition – May 05, 2025

Array
(
    [0] => Array
        (
            [0] => ((ACF))
            [1] => ((BHP))
            [2] => ((ALL))
            [3] => ((ALQ))
            [4] => ((ARX))
            [5] => ((ASX))
            [6] => ((BAP))
            [7] => ((BBT))
            [8] => ((PBN))
            [9] => ((BCI))
            [10] => ((BGL))
            [11] => ((BPT))
            [12] => ((BSL))
            [13] => ((BXB))
            [14] => ((CIA))
            [15] => ((CIA))
            [16] => ((CMM))
            [17] => ((CMM))
            [18] => ((CMM))
            [19] => ((COL))
            [20] => ((WOW))
            [21] => ((CRN))
            [22] => ((CYL))
            [23] => ((EMR))
            [24] => ((FMG))
            [25] => ((HGO))
            [26] => ((IDX))
            [27] => ((IGO))
            [28] => ((IGO))
            [29] => ((IPD))
            [30] => ((IPH))
            [31] => ((LNW))
            [32] => ((MAC))
            [33] => ((MAH))
            [34] => ((MGR))
            [35] => ((MIN))
            [36] => ((NST))
            [37] => ((NST))
            [38] => ((ORG))
            [39] => ((PLT))
            [40] => ((PPE))
            [41] => ((QBE))
            [42] => ((RMS))
            [43] => ((RUL))
            [44] => ((SFR))
            [45] => ((SGP))
            [46] => ((SMR))
            [47] => ((VAU))
            [48] => ((WDS))
            [49] => ((WHC))
            [50] => ((WIA))
        )

    [1] => Array
        (
            [0] => ACF
            [1] => BHP
            [2] => ALL
            [3] => ALQ
            [4] => ARX
            [5] => ASX
            [6] => BAP
            [7] => BBT
            [8] => PBN
            [9] => BCI
            [10] => BGL
            [11] => BPT
            [12] => BSL
            [13] => BXB
            [14] => CIA
            [15] => CIA
            [16] => CMM
            [17] => CMM
            [18] => CMM
            [19] => COL
            [20] => WOW
            [21] => CRN
            [22] => CYL
            [23] => EMR
            [24] => FMG
            [25] => HGO
            [26] => IDX
            [27] => IGO
            [28] => IGO
            [29] => IPD
            [30] => IPH
            [31] => LNW
            [32] => MAC
            [33] => MAH
            [34] => MGR
            [35] => MIN
            [36] => NST
            [37] => NST
            [38] => ORG
            [39] => PLT
            [40] => PPE
            [41] => QBE
            [42] => RMS
            [43] => RUL
            [44] => SFR
            [45] => SGP
            [46] => SMR
            [47] => VAU
            [48] => WDS
            [49] => WHC
            [50] => WIA
        )

)

This story features ACROW LIMITED, and other companies.
For more info SHARE ANALYSIS: ACF
The company is included in ALL-ORDS

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)

ACF   ALL   ALQ   ARX   ASX   BAP   BBT   BCI   BGL   BPT   BSL   BXB   CIA (2)   CMM (3)   COL   CRN   CYL   EMR   FMG   HGO   IDX   IGO (2)   IPD   IPH   LNW   MAC   MAH   MGR   MIN   NST (2)   ORG   PLT   PPE   QBE   RMS   RUL   SFR   SGP   SMR   VAU   WDS   WHC   WIA  

ACF    ACROW LIMITED

Building Products & Services – Overnight Price: $1.06

Moelis rates ((ACF)) as Buy (1) –

Moelis retains a Buy rating and $1.44 target price on Acrow following its acquisitions of Brand Australia and Above Scaffolding for -$23m upfront, with a potential $6m earn-out.

The deals add geographic exposure in NSW and are expected to contribute around $40m revenue and at least $7m earnings (EBITDA) in FY26, at an implied sub 4x EV/EBITDA multiple, the analyst states.

Completion was effective 1 May, funded via existing debt facilities.

Management updated FY25 guidance lower due to delays in project starts, now expecting $260270m revenue and $8083m earnings (EBITDA), with net profit after tax lowered to $32.5$35m.

Moelis cuts FY25 EPS estimate by -6% but raises FY2627 by 56%, citing timing-related deferral of earnings. The broker expects Queensland activity to accelerate, supported by the $60m BHP Mitsubishi Alliance ((BHP)) contract and Olympic infrastructure rollout.

This report was published on May 1, 2025.

Target price is $1.44 Current Price is $1.06 Difference: $0.38
If ACF meets the Moelis target it will return approximately 36% (excluding dividends, fees and charges).
Current consensus price target is $1.32, suggesting upside of 24.2%(ex-dividends)
The company’s fiscal year ends in June.

Forecast for FY25:

Moelis forecasts a full year FY25 dividend of 5.70 cents and EPS of 10.90 cents.
At the last closing share price the estimated dividend yield is 5.38%.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 9.72.

How do these forecasts compare to market consensus projections?

Current consensus EPS estimate is 11.1, implying annual growth of 25.1%.
Current consensus DPS estimate is 5.9, implying a prospective dividend yield of 5.6%.
Current consensus EPS estimate suggests the PER is 9.5.

Forecast for FY26:

Moelis forecasts a full year FY26 dividend of 6.60 cents and EPS of 13.10 cents.
At the last closing share price the estimated dividend yield is 6.23%.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 8.09.

How do these forecasts compare to market consensus projections?

Current consensus EPS estimate is 13.1, implying annual growth of 18.0%.
Current consensus DPS estimate is 6.4, implying a prospective dividend yield of 6.0%.
Current consensus EPS estimate suggests the PER is 8.1.

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

ALL    ARISTOCRAT LEISURE LIMITED

Gaming – Overnight Price: $67.66

Goldman Sachs rates ((ALL)) as Buy (1) –

Ahead of Aristocrat Leisure’s 1H25 result on May 14, Goldman Sachs analysts have previewed the result and outlook in the context of US macro headwinds. 

The analysts note their in-house US growth forecast is 1.2% over 2025, compared with 0.1%/-2.6% outcome during 2008/2009, respectively.

Back then, US casino gross gaming revenue (GGR) fell only -3%/-5% in 2008/2009, respectively. The broker expects a minor impact this time on a better growth outlook and because the company remains well-positioned to offset macro headwinds.

For 1H25, the broker forecasts EBITDA of $1.028bn vs consensus of $1.131bn, and will be focusing on fee/day trends and M&A commentary.

Buy. Target cut to $77 from $82.

This report was published on April 30, 2025.

Target price is $77.00 Current Price is $67.66 Difference: $9.34
If ALL meets the Goldman Sachs target it will return approximately 14% (excluding dividends, fees and charges).
Current consensus price target is $76.93, suggesting upside of 13.7%(ex-dividends)
The company’s fiscal year ends in September.

Forecast for FY25:

Goldman Sachs forecasts a full year FY25 dividend of 91.00 cents and EPS of 266.00 cents.
At the last closing share price the estimated dividend yield is 1.34%.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 25.44.

How do these forecasts compare to market consensus projections?

Current consensus EPS estimate is 262.8, implying annual growth of 28.3%.
Current consensus DPS estimate is 89.8, implying a prospective dividend yield of 1.3%.
Current consensus EPS estimate suggests the PER is 25.7.

Forecast for FY26:

Goldman Sachs forecasts a full year FY26 dividend of 102.00 cents and EPS of 301.00 cents.
At the last closing share price the estimated dividend yield is 1.51%.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 22.48.

How do these forecasts compare to market consensus projections?

Current consensus EPS estimate is 292.5, implying annual growth of 11.3%.
Current consensus DPS estimate is 99.8, implying a prospective dividend yield of 1.5%.
Current consensus EPS estimate suggests the PER is 23.1.

Market Sentiment: 0.9
All consensus data are updated until yesterday. FNArena’s consensus calculations require a minimum of three sources

ALQ    ALS LIMITED

Industrial Sector Contractors & Engineers – Overnight Price: $17.28

Goldman Sachs rates ((ALQ)) as Buy (1) –

Goldman Sachs revised ALS Ltd’s FY25-27 earnings forecasts following a recent trading update. This resulted in a -2% cut to FY25 net profit estimate and a 2% lift to both FY26 and FY27.

Buy. Target rises to $17.80 from $17.75.

This report was published on April 30, 2025.

Target price is $17.80 Current Price is $17.28 Difference: $0.52
If ALQ meets the Goldman Sachs target it will return approximately 3% (excluding dividends, fees and charges).
Current consensus price target is $17.75, suggesting upside of 2.7%(ex-dividends)
The company’s fiscal year ends in March.

Forecast for FY25:

Goldman Sachs forecasts a full year FY25 EPS of 64.00 cents.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 27.00.

How do these forecasts compare to market consensus projections?

Current consensus EPS estimate is 63.4, implying annual growth of 2274.5%.
Current consensus DPS estimate is 38.2, implying a prospective dividend yield of 2.2%.
Current consensus EPS estimate suggests the PER is 27.3.

Forecast for FY26:

Goldman Sachs forecasts a full year FY26 EPS of 72.00 cents.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 24.00.

How do these forecasts compare to market consensus projections?

Current consensus EPS estimate is 73.6, implying annual growth of 16.1%.
Current consensus DPS estimate is 44.6, implying a prospective dividend yield of 2.6%.
Current consensus EPS estimate suggests the PER is 23.5.

Market Sentiment: 0.9
All consensus data are updated until yesterday. FNArena’s consensus calculations require a minimum of three sources

ARX    AROA BIOSURGERY LIMITED

Pharmaceuticals & Biotech/Lifesciences – Overnight Price: $0.45

Canaccord Genuity rates ((ARX)) as Buy (1) –

Canaccord Genuity retains a Buy rating on Aroa Biosurgery and a 90c price target, following a 4Q25 update that was in line with the broker’s expectations.

Management retained FY25 revenue guidance of NZ$8184m and earnings (EBITDA) of NZ$2NZ$4m. Cash receipts rose 12% year-on-year to NZ$20.1m for the quarter, and the company posted positive operating cash flow for the second consecutive quarter.

Myriad sales rose 11% quarter-on-quarter and 32% year-on-year, achieving a record US$2m in March, though growth expectations have been tempered by Canaccord Genuity to 35% in FY26 from 50%-plus.

Aroa plans to add 1015 sales reps in FY26, aiming to build scale while controlling costs. The Tela Bio partnership remains supportive, though recent sales underperformance and operational headwinds have weighed on sentiment.

This report was published on April 29, 2025.

Target price is $0.90 Current Price is $0.45 Difference: $0.45
If ARX meets the Canaccord Genuity target it will return approximately 100% (excluding dividends, fees and charges).
The company’s fiscal year ends in March.

Forecast for FY25:

Canaccord Genuity forecasts a full year FY25 dividend of 0.00 cents and EPS of minus 0.37 cents.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is minus 123.29.

Forecast for FY26:

Canaccord Genuity forecasts a full year FY26 dividend of 0.00 cents and EPS of 1.91 cents.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 23.51.

This company reports in NZD. All estimates have been converted into AUD by FNArena at present FX values.
Market Sentiment: 1.0
All consensus data are updated until yesterday. FNArena’s consensus calculations require a minimum of three sources

ASX    ASX LIMITED

Wealth Management & Investments – Overnight Price: $70.43

Goldman Sachs rates ((ASX)) as Sell (5) –

Goldman Sachs notes ASX has completed a resourcing review following the CHESS settlement incident, confirming no change to FY25 expense growth guidance of 69%.

The broker flags potential upside risk to FY26 expenses, citing additional resourcing needs across operations, technology, and regulatory compliance. Consensus forecasts are currently expecting 7.5% expense growth from FY25 to FY26.

The analyst remains concerned about elevated capex through FY25FY27 from CHESS and technology projects, increased regulatory scrutiny, and depreciation drag affecting earnings growth.

Management is expected to outline FY26 expense guidance at the Investor Day on 12 June. 

No changes were made to financial forecasts. Goldman Sachs maintains a Sell rating with a $62.00 price target. 

This report was published on May 1, 2025.

Target price is $62.00 Current Price is $70.43 Difference: minus $8.43 (current price is over target).
If ASX meets the Goldman Sachs target it will return approximately minus 12% (excluding dividends, fees and charges – negative figures indicate an expected loss).
Current consensus price target is $63.34, suggesting downside of -10.8%(ex-dividends)
The company’s fiscal year ends in June.

Forecast for FY25:

Goldman Sachs forecasts a full year FY25 dividend of 221.00 cents and EPS of 255.00 cents.
At the last closing share price the estimated dividend yield is 3.14%.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 27.62.

How do these forecasts compare to market consensus projections?

Current consensus EPS estimate is 260.9, implying annual growth of 6.6%.
Current consensus DPS estimate is 219.9, implying a prospective dividend yield of 3.1%.
Current consensus EPS estimate suggests the PER is 27.2.

Forecast for FY26:

Goldman Sachs forecasts a full year FY26 dividend of 228.00 cents and EPS of 260.00 cents.
At the last closing share price the estimated dividend yield is 3.24%.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 27.09.

How do these forecasts compare to market consensus projections?

Current consensus EPS estimate is 266.8, implying annual growth of 2.3%.
Current consensus DPS estimate is 223.8, implying a prospective dividend yield of 3.2%.
Current consensus EPS estimate suggests the PER is 26.6.

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

BAP    BAPCOR LIMITED

Automobiles & Components – Overnight Price: $5.16

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

Goldman Sachs highlights Bapcor has outlined a long-term turnaround strategy focused on stabilisation, simplification, consolidation, and modernisation, though cautions execution risk remains high given the early stage of delivery.

Management’s FY30 financial targets include over 5% revenue growth and in excess 10% earnings (EBITDA) growth; both are well above current consensus.

The broker notes retail operations require stabilisation before growth, with underperforming corporate stores to be closed.

Wholesale will consolidate warehouses and eliminate internal sales conflicts. Trade plans to open 12 stores in FY25, focusing on private label expansion.

No changes to the analyst’s earnings forecasts. Neutral rating retained, target price $5.40.

This report was published on April 30, 2025.

Target price is $5.40 Current Price is $5.16 Difference: $0.24
If BAP meets the Goldman Sachs target it will return approximately 5% (excluding dividends, fees and charges).
Current consensus price target is $5.69, suggesting upside of 10.2%(ex-dividends)
The company’s fiscal year ends in June.

Forecast for FY25:

Goldman Sachs forecasts a full year FY25 dividend of 16.00 cents and EPS of 28.00 cents.
At the last closing share price the estimated dividend yield is 3.10%.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 18.43.

How do these forecasts compare to market consensus projections?

Current consensus EPS estimate is 28.2, implying annual growth of N/A.
Current consensus DPS estimate is 16.6, implying a prospective dividend yield of 3.2%.
Current consensus EPS estimate suggests the PER is 18.3.

Forecast for FY26:

Goldman Sachs forecasts a full year FY26 dividend of 17.00 cents and EPS of 34.00 cents.
At the last closing share price the estimated dividend yield is 3.29%.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 15.18.

How do these forecasts compare to market consensus projections?

Current consensus EPS estimate is 31.9, implying annual growth of 13.1%.
Current consensus DPS estimate is 18.7, implying a prospective dividend yield of 3.6%.
Current consensus EPS estimate suggests the PER is 16.2.

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

BBT    BETR ENTERTAINMENT LIMITED

Gaming – Overnight Price: $0.32

Taylor Collison rates ((BBT)) as Outperform (2) –

Taylor Collision believes the odds of a BlueBet Holdings and PointsBet Holdings ((PBN)) combination have increased following BlueBet’s purchase of a 20% stake in the latter.

This is considered a tactical move to vote down the takeover offer from Mixi.

BlueBet has addressed three concerns raised by PointsBet, raising the probability of a merger. If this happens, the broker reckons it would provide significant value to the shareholders with over 100% EPS accretion.

For now, the broker upgraded FY25 revenue estimate by 7.4% following 3Q25 update. Outperform. No target price.

This report was published on May 1, 2025.

Current Price is $0.32. Target price not assessed.
The company’s fiscal year ends in June.

Forecast for FY25:

Taylor Collison forecasts a full year FY25 dividend of 0.00 cents and EPS of minus 0.40 cents.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is minus 80.00.

Forecast for FY26:

Taylor Collison forecasts a full year FY26 dividend of 0.00 cents and EPS of 2.50 cents.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 12.80.

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

BCI    BCI MINERALS LIMITED

Iron Ore – Overnight Price: $0.28

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

BCI Minerals noted in the 3Q25 update full-scale operations at the Mardie salt and potash project began after the end of the quarter on April 15.

Canaccord Genuity notes the first phase of construction is 61% complete and the company is targeting first salt on ship in the December 2026 quarter. 

The broker highlights salt pricing remains high and forecasts a long-term price of US$60/t from US$50-56/t currently.

Speculative Buy. Target unchanged at 49c.

This report was published on April 30, 2025.

Target price is $0.49 Current Price is $0.28 Difference: $0.205
If BCI meets the Canaccord Genuity target it will return approximately 72% (excluding dividends, fees and charges).
The company’s fiscal year ends in June.

Forecast for FY25:

Canaccord Genuity forecasts a full year FY25 dividend of 0.00 cents and EPS of minus 1.50 cents.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is minus 19.00.

Forecast for FY26:

Canaccord Genuity forecasts a full year FY26 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 17.81.

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

BGL    BELLEVUE GOLD LIMITED

Gold & Silver – Overnight Price: $0.90

Goldman Sachs rates ((BGL)) as Buy (1) –

Bellevue Gold’s 3Q25 sales proved slightly higher than Goldman Sachs’ forecast, while costs were in line. Production was pre-reported.

The FY25 production guidance was previously downgraded to 129-134koz and the broker is forecasting 130koz. FY26 production is targeted at 150kozpa, but a formal one is expected in mid-2025.

The broker cut FY25-27 EPS estimates by -15%/-12%/-4%, respectively, following the result and on lower free cash flow.

Buy. Target cut to $1.15 from $1.25.

This report was published on April 29, 2025.

Target price is $1.15 Current Price is $0.90 Difference: $0.25
If BGL meets the Goldman Sachs target it will return approximately 28% (excluding dividends, fees and charges).
Current consensus price target is $1.33, suggesting upside of 47.2%(ex-dividends)
The company’s fiscal year ends in June.

Forecast for FY25:

Goldman Sachs forecasts a full year FY25 dividend of 0.00 cents and EPS of 3.00 cents.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 30.00.

How do these forecasts compare to market consensus projections?

Current consensus EPS estimate is 4.3, implying annual growth of -34.0%.
Current consensus DPS estimate is N/A, implying a prospective dividend yield of N/A.
Current consensus EPS estimate suggests the PER is 20.9.

Forecast for FY26:

Goldman Sachs forecasts a full year FY26 dividend of 0.00 cents and EPS of 8.00 cents.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 11.25.

How do these forecasts compare to market consensus projections?

Current consensus EPS estimate is 10.1, implying annual growth of 134.9%.
Current consensus DPS estimate is N/A, implying a prospective dividend yield of N/A.
Current consensus EPS estimate suggests the PER is 8.9.

Market Sentiment: 0.8
All consensus data are updated until yesterday. FNArena’s consensus calculations require a minimum of three sources

BPT    BEACH ENERGY LIMITED

Crude Oil – Overnight Price: $1.20

Canaccord Genuity rates ((BPT)) as Upgrade to Buy from Sell (1) –

Canaccord Genuity upgrades Beach Energy to Hold from Sell and lifts the target price to $1.30 from $1.28, citing stronger-than-expected March quarter results.

Quarterly production fell -3% to 4.9mnboe but was in line with the analyst’s expectations. Sales revenue of $552m was supported by third-party LNG cargoes.

Management’s FY25 production guidance of 18.521.5mnboe is retained despite ~0.5mnboe of production deferred post-quarter due to Cooper Basin flooding.

Canaccord Genuity lifted FY25 earnings (EBITDA) by 1.2% reflecting stronger price realisations and LNG volumes.

Waitsia commissioning is progressing with first gas still targeted mid-2025. Otway program remains on track with the Equinox rig expected in June quarter, including -$45m net costs each for abandonment and new drilling.

This report was published on April 30, 2025.

Target price is $1.30 Current Price is $1.20 Difference: $0.1
If BPT meets the Canaccord Genuity target it will return approximately 8% (excluding dividends, fees and charges).
Current consensus price target is $1.39, suggesting upside of 15.7%(ex-dividends)
The company’s fiscal year ends in June.

Forecast for FY25:

Canaccord Genuity forecasts a full year FY25 dividend of 5.00 cents and EPS of 16.70 cents.
At the last closing share price the estimated dividend yield is 4.17%.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 7.19.

How do these forecasts compare to market consensus projections?

Current consensus EPS estimate is 20.1, implying annual growth of N/A.
Current consensus DPS estimate is 6.4, implying a prospective dividend yield of 5.3%.
Current consensus EPS estimate suggests the PER is 6.0.

Forecast for FY26:

Canaccord Genuity forecasts a full year FY26 dividend of 4.00 cents and EPS of 14.60 cents.
At the last closing share price the estimated dividend yield is 3.33%.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 8.22.

How do these forecasts compare to market consensus projections?

Current consensus EPS estimate is 22.0, implying annual growth of 9.5%.
Current consensus DPS estimate is 5.8, implying a prospective dividend yield of 4.8%.
Current consensus EPS estimate suggests the PER is 5.5.

Market Sentiment: -0.1
All consensus data are updated until yesterday. FNArena’s consensus calculations require a minimum of three sources

BSL    BLUESCOPE STEEL LIMITED

Steel & Scrap – Overnight Price: $23.90

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

Jarden believes BlueScope Steel’s higher US exposure has proven to be a prudent decision given trade protections and structural demand drivers.

The broker sees risk of the company upgrading 2H25 guidance (currently $360-430m) given the higher US steel spreads and noting the consensus beats in quarterlies of its US peers.

There’s also upside risk for FY26 consensus earnings estimate, given the US steel spread forecast for FY26 is below the 10-year average and spot price.

Overweight. Target unchanged at $24.

This report was published on May 1, 2025.

Target price is $24.00 Current Price is $23.90 Difference: $0.1
If BSL meets the Jarden target it will return approximately 0% (excluding dividends, fees and charges).
Current consensus price target is $27.04, suggesting upside of 13.1%(ex-dividends)
The company’s fiscal year ends in June.

Forecast for FY25:

Jarden forecasts a full year FY25 dividend of 60.00 cents and EPS of 104.60 cents.
At the last closing share price the estimated dividend yield is 2.51%.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 22.85.

How do these forecasts compare to market consensus projections?

Current consensus EPS estimate is 100.9, implying annual growth of -43.9%.
Current consensus DPS estimate is 60.0, implying a prospective dividend yield of 2.5%.
Current consensus EPS estimate suggests the PER is 23.7.

Forecast for FY26:

Jarden forecasts a full year FY26 dividend of 60.00 cents and EPS of 176.70 cents.
At the last closing share price the estimated dividend yield is 2.51%.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 13.53.

How do these forecasts compare to market consensus projections?

Current consensus EPS estimate is 210.1, implying annual growth of 108.2%.
Current consensus DPS estimate is 60.0, implying a prospective dividend yield of 2.5%.
Current consensus EPS estimate suggests the PER is 11.4.

Market Sentiment: 0.7
All consensus data are updated until yesterday. FNArena’s consensus calculations require a minimum of three sources

BXB    BRAMBLES LIMITED

Transportation & Logistics – Overnight Price: $20.80

Goldman Sachs rates ((BXB)) as Sell (5) –

Goldman Sachs revised Brambles’ FY25-27 earnings forecasts following 3Q25 update and new forex estimates.

Sell retained. Target rises to $18.70 from $18.35 on roll forward and updated trading multiple.

This report was published on April 30, 2025.

Target price is $18.70 Current Price is $20.80 Difference: minus $2.1 (current price is over target).
If BXB meets the Goldman Sachs target it will return approximately minus 10% (excluding dividends, fees and charges – negative figures indicate an expected loss).
Current consensus price target is $21.94, suggesting upside of 5.5%(ex-dividends)
The company’s fiscal year ends in June.

Forecast for FY25:

Goldman Sachs forecasts a full year FY25 dividend of 56.88 cents and EPS of 93.77 cents.
At the last closing share price the estimated dividend yield is 2.73%.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 22.18.

How do these forecasts compare to market consensus projections?

Current consensus EPS estimate is 94.8, implying annual growth of N/A.
Current consensus DPS estimate is 58.9, implying a prospective dividend yield of 2.8%.
Current consensus EPS estimate suggests the PER is 21.9.

Forecast for FY26:

Goldman Sachs forecasts a full year FY26 EPS of 101.46 cents.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 20.50.

How do these forecasts compare to market consensus projections?

Current consensus EPS estimate is 106.1, implying annual growth of 11.9%.
Current consensus DPS estimate is 63.2, implying a prospective dividend yield of 3.0%.
Current consensus EPS estimate suggests the PER is 19.6.

This company reports in USD. 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

CIA    CHAMPION IRON LIMITED

Iron Ore – Overnight Price: $4.62

Goldman Sachs rates ((CIA)) as Buy (1) –

Champion Iron reported record material movements in the March quarter, but concentrate production fell -13% quarter-on-quarter to around 3.2Mt due to shutdowns and lower recoveries, missing Goldman Sachs and consensus estimates.

Sales reached a record 3.5Mt, 9% above the broker’s forecast, with stockpiles reduced by -340kt to 2.6Mt. C1 costs were CA$80/t, in line with expectations.

Cash rose to CA$118m and as the definitive feasibility study for the Kami project continues. Management targets completion by end-2026, while the high-grade DRPF project remains on track for December 2025 commissioning.

Goldman adjusts FY2527 earnings (EBITDA) by 2%/-1%/-1% and the target price to $5.70 from $5.90.

Buy rating maintained

This report was published on April 30, 2025.

Target price is $5.70 Current Price is $4.62 Difference: $1.08
If CIA meets the Goldman Sachs target it will return approximately 23% (excluding dividends, fees and charges).
The company’s fiscal year ends in March.

Forecast for FY25:

Goldman Sachs forecasts a full year FY25 EPS of 31.99 cents.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 14.44.

Forecast for FY26:

Goldman Sachs forecasts a full year FY26 EPS of 40.82 cents.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 11.32.

This company reports in CAD. All estimates have been converted into AUD by FNArena at present FX values.
Market Sentiment: 1.0
All consensus data are updated until yesterday. FNArena’s consensus calculations require a minimum of three sources

Jarden rates ((CIA)) as Buy (1) –

Champion Iron’s 4Q25 production missed Jarden’s forecast, but sales of 3.5Mdmt exceeded the forecast of 3.2Mdmt due to an earlier-than-expected inventory destocking process.

The broker now expects the balance 2.6Mwmt inventory balance to be unwound by mid-2026 providing an estimated CA$500m in revenue. Among other details, the analyst believes the cash position of CA$117m vs forecast CA$99m suggests net debt has peaked.

The broker expects no further dividend from already declared CA10c at the FY25 result in end-May but sees a risk of an additional amount given the cash position and CA$69m receipt from Kami JV deal.

Buy. Target cut to $6.91 from $7.02 on inventory revaluation as of end-March.

This report was published on April 30, 2025.

Target price is $6.91 Current Price is $4.62 Difference: $2.29
If CIA meets the Jarden target it will return approximately 50% (excluding dividends, fees and charges).
The company’s fiscal year ends in March.

Forecast for FY25:

Jarden forecasts a full year FY25 dividend of 11.03 cents and EPS of 28.57 cents.
At the last closing share price the estimated dividend yield is 2.39%.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 16.17.

Forecast for FY26:

Jarden forecasts a full year FY26 dividend of 11.03 cents and EPS of 34.75 cents.
At the last closing share price the estimated dividend yield is 2.39%.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 13.30.

This company reports in CAD. All estimates have been converted into AUD by FNArena at present FX values.
Market Sentiment: 1.0
All consensus data are updated until yesterday. FNArena’s consensus calculations require a minimum of three sources

CMM    CAPRICORN METALS LIMITED

Gold & Silver – Overnight Price: $9.22

Canaccord Genuity rates ((CMM)) as Buy (1) –

Capricorn Metals reported 3Q25 gold production of 30.6koz in line with Canaccord Genuity’s expectations, with all-in-sustaining-costs of $1,390/oz, down -7% quarter-on-quarter.

The company remains on track to meet FY25 guidance of 110120koz at AISC of $1,3701,470/oz, having delivered 84.9koz year-to-date, the broker explains.

The company is largely exposed to spot gold prices beyond June 2025.

Canaccord Genuity lowers earnings (EBITDA) forecasts for FY25 to $233m (from $240.5m), with FY2627 unchanged. Buy rated with $10.60 target.

This report was published on April 30, 2025.

Target price is $10.60 Current Price is $9.22 Difference: $1.38
If CMM meets the Canaccord Genuity target it will return approximately 15% (excluding dividends, fees and charges).
Current consensus price target is $8.94, suggesting downside of -3.0%(ex-dividends)
The company’s fiscal year ends in June.

Forecast for FY25:

Canaccord Genuity forecasts a full year FY25 dividend of 0.00 cents and EPS of 31.00 cents.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 29.74.

How do these forecasts compare to market consensus projections?

Current consensus EPS estimate is 36.3, implying annual growth of 56.9%.
Current consensus DPS estimate is N/A, implying a prospective dividend yield of N/A.
Current consensus EPS estimate suggests the PER is 25.4.

Forecast for FY26:

Canaccord Genuity forecasts a full year FY26 dividend of 0.00 cents and EPS of 57.00 cents.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 16.18.

How do these forecasts compare to market consensus projections?

Current consensus EPS estimate is 50.2, implying annual growth of 38.3%.
Current consensus DPS estimate is N/A, implying a prospective dividend yield of N/A.
Current consensus EPS estimate suggests the PER is 18.4.

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

Goldman Sachs rates ((CMM)) as Buy (1) –

Capricorn Metals reported 3Q gold production of 31koz and sales of 28koz, broadly in line with guidance, Goldman Sachs notes.

Cash costs and all-in-sustaining-costs fell to $1,126/oz and $1,390/oz respectively, both below expectations. Management’s FY25 production guidance of 110120koz at $1,3701,470/oz AISC is maintained. 

The broker highlights progress at both growth projects. The Karlawinda mill expansion to 6.5Mtpa is on track for 4Q FY26 completion, while Mt Gibson achieved 30% progress on plant design and plans first gold mid-FY27. Both projects are fully funded.

The price target lifts to $10.00 from $9.90. Rating remains Buy.

This report was published on April 30, 2025.

Target price is $10.00 Current Price is $9.22 Difference: $0.78
If CMM meets the Goldman Sachs target it will return approximately 8% (excluding dividends, fees and charges).
Current consensus price target is $8.94, suggesting downside of -3.0%(ex-dividends)
The company’s fiscal year ends in June.

Forecast for FY25:

Goldman Sachs forecasts a full year FY25 EPS of 45.00 cents.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 20.49.

How do these forecasts compare to market consensus projections?

Current consensus EPS estimate is 36.3, implying annual growth of 56.9%.
Current consensus DPS estimate is N/A, implying a prospective dividend yield of N/A.
Current consensus EPS estimate suggests the PER is 25.4.

Forecast for FY26:

Goldman Sachs forecasts a full year FY26 EPS of 68.00 cents.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 13.56.

How do these forecasts compare to market consensus projections?

Current consensus EPS estimate is 50.2, implying annual growth of 38.3%.
Current consensus DPS estimate is N/A, implying a prospective dividend yield of N/A.
Current consensus EPS estimate suggests the PER is 18.4.

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

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

Jarden notes Capricorn Metals’ 3Q25 production numbers were pre-released but the cost information in the update was lower than its forecast due to higher volumes and mining efficiencies.

The company ended the March quarter with a cash balance of $404.6m, with put options now on its books.

FY25 guidance was retained, and the broker’s production forecast aligns with it, but is higher on cost at $1,497/oz vs the guidance of $1,370-1,470.

Maiden resource for the Mt Gibson gold project is expected in 1Q26, and the broker is expecting the final investment decision in mid-2025.

Overweight. Target rises to $9.28 from $9.04 on roll forward to June quarter.

This report was published on April 30, 2025.

Target price is $9.04 Current Price is $9.22 Difference: minus $0.18 (current price is over target).
If CMM meets the Jarden target it will return approximately minus 2% (excluding dividends, fees and charges – negative figures indicate an expected loss).
Current consensus price target is $8.94, suggesting downside of -3.0%(ex-dividends)
The company’s fiscal year ends in June.

Forecast for FY25:

Jarden forecasts a full year FY25 dividend of 0.00 cents and EPS of 37.10 cents.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 24.85.

How do these forecasts compare to market consensus projections?

Current consensus EPS estimate is 36.3, implying annual growth of 56.9%.
Current consensus DPS estimate is N/A, implying a prospective dividend yield of N/A.
Current consensus EPS estimate suggests the PER is 25.4.

Forecast for FY26:

Jarden forecasts a full year FY26 dividend of 0.00 cents and EPS of 48.80 cents.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 18.89.

How do these forecasts compare to market consensus projections?

Current consensus EPS estimate is 50.2, implying annual growth of 38.3%.
Current consensus DPS estimate is N/A, implying a prospective dividend yield of N/A.
Current consensus EPS estimate suggests the PER is 18.4.

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

COL    COLES GROUP LIMITED

Food, Beverages & Tobacco – Overnight Price: $21.93

Jarden rates ((COL)) as Neutral (3) –

Jarden saw few surprises in Coles Group’ 3Q25 result, with supermarket sales up 4.7% y/y, Ocado performing well, though liquor was a bit of a drag.

The broker remains skeptical of the benefits of liquor business rebranding, and the -0.2% cut to FY25-26 EBITDA forecast is largely a result of softer liquor results and costs related to brand consolidation.

The broker prefers Woolworths Group ((WOW)) over Coles, but sees scope for both supermarkets to outperform.

Neutral. Target rises to $20.60 from $19.50 on medium-term EBITDA upgrades and terminal margins.

This report was published on April 30, 2025.

Target price is $20.60 Current Price is $21.93 Difference: minus $1.33 (current price is over target).
If COL meets the Jarden target it will return approximately minus 6% (excluding dividends, fees and charges – negative figures indicate an expected loss).
Current consensus price target is $22.05, suggesting upside of 0.5%(ex-dividends)
The company’s fiscal year ends in June.

Forecast for FY25:

Jarden forecasts a full year FY25 dividend of 66.00 cents and EPS of 81.90 cents.
At the last closing share price the estimated dividend yield is 3.01%.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 26.78.

How do these forecasts compare to market consensus projections?

Current consensus EPS estimate is 83.5, implying annual growth of -0.4%.
Current consensus DPS estimate is 69.1, implying a prospective dividend yield of 3.2%.
Current consensus EPS estimate suggests the PER is 26.3.

Forecast for FY26:

Jarden forecasts a full year FY26 dividend of 76.00 cents and EPS of 93.40 cents.
At the last closing share price the estimated dividend yield is 3.47%.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 23.48.

How do these forecasts compare to market consensus projections?

Current consensus EPS estimate is 96.0, implying annual growth of 15.0%.
Current consensus DPS estimate is 78.7, implying a prospective dividend yield of 3.6%.
Current consensus EPS estimate suggests the PER is 22.8.

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

CRN    CORONADO GLOBAL RESOURCES INC

Coal – Overnight Price: $0.17

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

Coronado Global Resources’ 1Q25 coal production and sales, and revenue missed Goldman Sachs’ forecast. The broker was more focused on cost-cutting measures and additional funding, given a further increase in net debt and a reduction in cash.

The company announced it is in discussions to restructure the US$150m asset-backed loan facility and is targeting cost and capex cuts of up to -US$100m this FY.

The broker’s forecasts already assume US$200m of additional funding, but the cost/capex cut estimate was -US$60m, prompting an upward revision.

Modest adjustments to EBITDA estimates. Neutral. Target cut to 30c from 35c.

This report was published on April 30, 2025.

Target price is $0.30 Current Price is $0.17 Difference: $0.125
If CRN meets the Goldman Sachs target it will return approximately 71% (excluding dividends, fees and charges).
Current consensus price target is $0.39, suggesting upside of 121.7%(ex-dividends)
The company’s fiscal year ends in December.

Forecast for FY25:

Goldman Sachs forecasts a full year FY25 dividend of 1.54 cents and EPS of minus 19.99 cents.
At the last closing share price the estimated dividend yield is 8.78%.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is minus 0.88.

How do these forecasts compare to market consensus projections?

Current consensus EPS estimate is -16.0, implying annual growth of N/A.
Current consensus DPS estimate is 1.3, implying a prospective dividend yield of 7.4%.
Current consensus EPS estimate suggests the PER is N/A.

Forecast for FY26:

Goldman Sachs forecasts a full year FY26 dividend of 0.00 cents and EPS of minus 15.37 cents.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is minus 1.14.

How do these forecasts compare to market consensus projections?

Current consensus EPS estimate is -1.9, implying annual growth of N/A.
Current consensus DPS estimate is 1.3, implying a prospective dividend yield of 7.4%.
Current consensus EPS estimate suggests the PER is N/A.

This company reports in USD. All estimates have been converted into AUD by FNArena at present FX values.
Market Sentiment: 0.4
All consensus data are updated until yesterday. FNArena’s consensus calculations require a minimum of three sources

CYL    CATALYST METALS LIMITED

Gold & Silver – Overnight Price: $5.63

Canaccord Genuity rates ((CYL)) as Hold (3) –

Catalyst Metals’ 3Q25 group gold production of 24.3koz missed Canaccord Genuity’s forecast of 30koz mainly due to interruption from Tropical Cyclone Sean, while the cost was higher.

Despite the production miss, the company reiterated FY25 production guidance of 105-120koz at cost of $2,300-2,500/oz. The broker, however, lowered the forecast to 107koz from 117koz and increased the cost estimate.

The analyst is more confident of the outlook, forecasting a doubling of gold production in FY27 to 171koz on Plutonic developments. 

Hold maintained. Target lifted to $6.20 from $6.10 as the broker increased the Henty valuation to $49m based on the sale price and mark-to-market of Kaiser Reef shares.

This report was published on April 29, 2025.

Target price is $6.20 Current Price is $5.63 Difference: $0.57
If CYL meets the Canaccord Genuity target it will return approximately 10% (excluding dividends, fees and charges).
The company’s fiscal year ends in June.

Forecast for FY25:

Canaccord Genuity forecasts a full year FY25 dividend of 0.00 cents and EPS of 50.00 cents.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 11.26.

Forecast for FY26:

Canaccord Genuity forecasts a full year FY26 dividend of 0.00 cents and EPS of 100.00 cents.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 5.63.

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

EMR    EMERALD RESOURCES NL

Gold & Silver – Overnight Price: $4.13

Canaccord Genuity rates ((EMR)) as Buy (1) –

Emerald Resources had pre-reported all the key 3Q25 numbers, so the only new information in the full report was guidance that quarterly production will trend towards the upper end of 25-30koz range.

Canaccord Genuity notes the guidance implies FY25 production of 104-109koz at cost of US$986-1,012/oz. This is in line with the broker’s forecast of 106koz at US$1,002/oz.

The FY25 production guidance of 110-125koz also aligns with the broker’s 113koz forecast, though the cost estimate of US$966/oz is lower than the broker’s US$1,007/oz forecast.

Buy. Target unchanged at $5.95.

This report was published on April 29, 2025.

Target price is $5.95 Current Price is $4.13 Difference: $1.82
If EMR meets the Canaccord Genuity target it will return approximately 44% (excluding dividends, fees and charges).
The company’s fiscal year ends in June.

Forecast for FY25:

Canaccord Genuity forecasts a full year FY25 dividend of 0.00 cents and EPS of 22.00 cents.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 18.77.

Forecast for FY26:

Canaccord Genuity forecasts a full year FY26 dividend of 0.00 cents and EPS of 36.00 cents.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 11.47.

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

FMG    FORTESCUE LIMITED

Iron Ore – Overnight Price: $16.35

Jarden rates ((FMG)) as Neutral (3) –

Fortescue reported strong 3Q25 cash generation, with Pilbara hematite operations benefiting from lower C1 costs at US$17.52/wmt and forex tailwinds, beating expectations with a US$3.3bn cash position, according to Jarden.

Iron ore volume guidance for FY25 remains unchanged at 190200Mt, though year-to-date production of 143Mt suggests a result near the lower end. The broker trims FY25 production forecast slightly to 195.9Mt and improves cost assumptions.

Iron Bridge ramp-up was again disappointing, the broker comments, with processed volumes down -24% on the previous quarter and nameplate capacity now pushed out to FY28.

Despite shipping improvements, realisation remains below benchmark. Management raised capex guidance marginally to -US$3.5US$3.8bn. Working capital benefits helped offset lower capex, keeping net debt stable at US$2.1bn.

Jarden lifts FY25 forecast EPS by 1.3% on lower costs, while FY26 EPS is cut by 3% on weaker Iron Bridge output. Target price slips to $16.49 from $16.91. Neutral rating retained.

(Re-published to correct forecasts in USD).

This report was published on April 29, 2025.

Target price is $16.91 Current Price is $16.35 Difference: $0.56
If FMG meets the Jarden target it will return approximately 3% (excluding dividends, fees and charges).
Current consensus price target is $17.14, suggesting upside of 4.8%(ex-dividends)
The company’s fiscal year ends in June.

Forecast for FY25:

Jarden forecasts a full year FY25 EPS of 180.17 cents.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 9.07.

How do these forecasts compare to market consensus projections?

Current consensus EPS estimate is 168.6, implying annual growth of N/A.
Current consensus DPS estimate is 102.6, implying a prospective dividend yield of 6.3%.
Current consensus EPS estimate suggests the PER is 9.7.

Forecast for FY26:

Jarden forecasts a full year FY26 EPS of 130.67 cents.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 12.51.

How do these forecasts compare to market consensus projections?

Current consensus EPS estimate is 144.3, implying annual growth of -14.4%.
Current consensus DPS estimate is 93.4, implying a prospective dividend yield of 5.7%.
Current consensus EPS estimate suggests the PER is 11.3.

This company reports in USD. All estimates have been converted into AUD by FNArena at present FX values.
Market Sentiment: 0.4
All consensus data are updated until yesterday. FNArena’s consensus calculations require a minimum of three sources

HGO    HILLGROVE RESOURCES LIMITED

Copper – Overnight Price: $0.03

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

Hillgrove Resources’ 1Q25 copper production was pre-reported, but the gold and silver production missed Canaccord Genuity’s forecasts. The bigger miss was the cost of US$2.64/lb, which was higher than the broker’s US$2.19/lb forecast.

The analyst lowered the FY25 revenue forecast by -5% while the cost forecast was lifted by 12%.

Speculative Buy. Target unchanged at 8c.

This report was published on April 30, 2025.

Target price is $0.08 Current Price is $0.03 Difference: $0.046
If HGO meets the Canaccord Genuity target it will return approximately 135% (excluding dividends, fees and charges).
The company’s fiscal year ends in December.

Forecast for FY25:

Canaccord Genuity forecasts a full year FY25 dividend of 0.00 cents and EPS of 1.00 cents.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 3.40.

Forecast for FY26:

Canaccord Genuity forecasts a full year FY26 dividend of 0.00 cents and EPS of 3.00 cents.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 1.13.

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

IDX    INTEGRAL DIAGNOSTICS LIMITED

Medical Equipment & Devices – Overnight Price: $2.39

Jarden rates ((IDX)) as Buy (1) –

Jarden believes Integral Diagnostics is facing challenges in 2H25 and, after re-assessing this business and the merged Capitol Health, the broker downgraded FY25 group EBITDA margins by -20bps.

The broker cut 2H25 revenue forecast to reflect the impact of Easter/Anzac Day holiday timings, and in the case of Integral, the Cyclone Alfred impact and staffing pressures in regional Victoria. Capitol’s revenue is expected to suffer from competitive pressure in metro Victoria.

FY26 is expected to see a rebound, with the broker’s EBITDA forecast sitting 8% ahead of consensus.

Buy. Target cut to $3.45 from $3.51.

This report was published on April 30, 2025.

Target price is $3.45 Current Price is $2.39 Difference: $1.06
If IDX meets the Jarden target it will return approximately 44% (excluding dividends, fees and charges).
Current consensus price target is $3.12, suggesting upside of 30.6%(ex-dividends)
The company’s fiscal year ends in June.

Forecast for FY25:

Jarden forecasts a full year FY25 dividend of 4.90 cents and EPS of 9.60 cents.
At the last closing share price the estimated dividend yield is 2.05%.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 24.90.

How do these forecasts compare to market consensus projections?

Current consensus EPS estimate is 8.5, implying annual growth of N/A.
Current consensus DPS estimate is 6.2, implying a prospective dividend yield of 2.6%.
Current consensus EPS estimate suggests the PER is 28.1.

Forecast for FY26:

Jarden forecasts a full year FY26 dividend of 7.00 cents and EPS of 15.30 cents.
At the last closing share price the estimated dividend yield is 2.93%.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 15.62.

How do these forecasts compare to market consensus projections?

Current consensus EPS estimate is 13.0, implying annual growth of 52.9%.
Current consensus DPS estimate is 8.8, implying a prospective dividend yield of 3.7%.
Current consensus EPS estimate suggests the PER is 18.4.

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: $3.94

Canaccord Genuity rates ((IGO)) as Hold (3) –

IGO Ltd’s March quarter update showed earnings (EBITDA) of $34m, in line with internal forecasts but below consensus, according to Canaccord Genuity.

Nova outperformed with 4.2kt of nickel at $5.12/lb, generating $42m free cash flow, though guidance now caps mine life to end-2026. Greenbushes missed production expectations at 341kt but beat on costs, and stockpiles remain elevated, the broker details.

Canaccord Genuity lifts FY25 earnings (EBITDA) to $10m from a loss of $70m due to improved Kwinana assumptions, while FY26 is lowered on reduced Nova volumes.

Target price lifts to $3.60 from $3.50. No change to Hold rating.

This report was published on April 30, 2025.

Target price is $3.60 Current Price is $3.94 Difference: minus $0.34 (current price is over target).
If IGO meets the Canaccord Genuity target it will return approximately minus 9% (excluding dividends, fees and charges – negative figures indicate an expected loss).
Current consensus price target is $4.49, suggesting upside of 14.0%(ex-dividends)
The company’s fiscal year ends in June.

Forecast for FY25:

Canaccord Genuity forecasts a full year FY25 dividend of 20.00 cents and EPS of minus 9.00 cents.
At the last closing share price the estimated dividend yield is 5.08%.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is minus 43.78.

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 1.0, implying a prospective dividend yield of 0.3%.
Current consensus EPS estimate suggests the PER is N/A.

Forecast for FY26:

Canaccord Genuity forecasts a full year FY26 dividend of 9.00 cents and EPS of 5.00 cents.
At the last closing share price the estimated dividend yield is 2.28%.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 78.80.

How do these forecasts compare to market consensus projections?

Current consensus EPS estimate is 16.8, implying annual growth of N/A.
Current consensus DPS estimate is 6.0, implying a prospective dividend yield of 1.5%.
Current consensus EPS estimate suggests the PER is 23.5.

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

Jarden rates ((IGO)) as Buy (1) –

The highlight of IGO Ltd’s 3Q25 update was news the end of life for Nova mine was targeted for the end of 2026, 18 months ahead of Jarden’s forecast.

The broker revised forecasts to incorporate -$20m closure liability plus other write-downs, resulting in a cut to FY25-26 EBITDA forecasts. 

Additional downward impact to the EBITDA forecast came from a reduction of around -US$100/t in SC6 price forecast in the short to medium term.

Apart from these adjustments, the 3Q25 was considered positive in terms of costs and capex outlook, though production was -6% lower than the broker’s estimate.

Buy. Target price $5.34.

This report was published on May 1, 2025.

Target price is $5.34 Current Price is $3.94 Difference: $1.4
If IGO meets the Jarden target it will return approximately 36% (excluding dividends, fees and charges).
Current consensus price target is $4.49, suggesting upside of 14.0%(ex-dividends)
The company’s fiscal year ends in June.

Forecast for FY25:

Jarden forecasts a full year FY25 dividend of 0.00 cents and EPS of minus 9.80 cents.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is minus 40.20.

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 1.0, implying a prospective dividend yield of 0.3%.
Current consensus EPS estimate suggests the PER is N/A.

Forecast for FY26:

Jarden forecasts a full year FY26 dividend of 0.00 cents and EPS of minus 35.40 cents.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is minus 11.13.

How do these forecasts compare to market consensus projections?

Current consensus EPS estimate is 16.8, implying annual growth of N/A.
Current consensus DPS estimate is 6.0, implying a prospective dividend yield of 1.5%.
Current consensus EPS estimate suggests the PER is 23.5.

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

IPD    IMPEDIMED LIMITED

Medical Equipment & Devices – Overnight Price: $0.04

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

ImpediMed reported record revenue of $3.4m, up from $3.3m in 2Q25, with 36 Sozo units sold, although international unit sales declined, Canaccord Genuity explains. Annual recurring revenue increased to $13.7m, up 10% quarter-on-quarter.

Despite clinical and reimbursement milestones, such as 258m lives covered in the US, the broker remains disappointed with the conversion of market access into revenue.

Sales team deficiencies were acknowledged, and a new SVP of Sales was appointed during the quarter.  The company announced a rise in cash burn due to higher advertising and inventory build. The balance sheet was strengthened by a $10m drawdown from a capital facility, lifting cash to $27.9m.

Canaccord flags weak commercial execution as the key issue, noting its $15.3m FY25 revenue forecast may be optimistic. 

Speculative Buy rating on ImpediMed and a $0.09 target price retained.

This report was published on April 30, 2025.

Target price is $0.09 Current Price is $0.04 Difference: $0.051
If IPD meets the Canaccord Genuity target it will return approximately 131% (excluding dividends, fees and charges).
The company’s fiscal year ends in June.

Forecast for FY25:

Canaccord Genuity forecasts a full year FY25 dividend of 0.00 cents and EPS of minus 1.10 cents.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is minus 3.55.

Forecast for FY26:

Canaccord Genuity forecasts a full year FY26 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 3.90.

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

IPH    IPH LIMITED

Legal – Overnight Price: $4.65

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

Petra Capital maintains a Buy rating and $8.00 price target for IPH Ltd, noting no change to forecasts despite ongoing external pressures.

The broker observes patent filings data to March 2025 from IP Australia and to January 2025 from WIPO, focusing on trends in Australian direct and national phase filings and global PCT filings.

The company’s full year to date FY25 filings declined 8% year-on-year, underperforming the market’s decline by 2.8%, driven by 14.2% national phase entry weakness, the analyst explains.

Market share has slipped to 30.4% from 32.1% due to IPH’s greater exposure to US clients, whose PCT filings have underperformed. While global PCT filings are flat year-on-year for CY24, US-originating PCTs remain negative.

Petra sees these pressures as transitory and expects filing comps to improve from MayJune 2025 into FY26.

This report was published on April 30, 2025.

Target price is $8.00 Current Price is $4.65 Difference: $3.35
If IPH meets the Petra Capital target it will return approximately 72% (excluding dividends, fees and charges).
Current consensus price target is $6.51, suggesting upside of 40.1%(ex-dividends)
The company’s fiscal year ends in June.

Forecast for FY25:

Petra Capital forecasts a full year FY25 dividend of 35.00 cents and EPS of 46.00 cents.
At the last closing share price the estimated dividend yield is 7.53%.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 10.11.

How do these forecasts compare to market consensus projections?

Current consensus EPS estimate is 46.6, implying annual growth of 85.8%.
Current consensus DPS estimate is 35.3, implying a prospective dividend yield of 7.6%.
Current consensus EPS estimate suggests the PER is 10.0.

Forecast for FY26:

Petra Capital forecasts a full year FY26 dividend of 36.40 cents and EPS of 47.90 cents.
At the last closing share price the estimated dividend yield is 7.83%.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 9.71.

How do these forecasts compare to market consensus projections?

Current consensus EPS estimate is 49.4, implying annual growth of 6.0%.
Current consensus DPS estimate is 36.5, implying a prospective dividend yield of 7.8%.
Current consensus EPS estimate suggests the PER is 9.4.

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

LNW    LIGHT & WONDER INC

Gaming – Overnight Price: $139.26

Goldman Sachs rates ((LNW)) as Buy (1) –

Ahead of Light & Wonder’s 1Q25 result on May 8, Goldman Sachs analysts have previewed the result and outlook in the context of US macro headwinds. 

It is noted the in-house US growth forecast is 1.2% over 2025, compared with 0.1%/-2.6% outcome during 2008/2009, respectively.

Back then, US casino gross gaming revenue (GGR) fell only -3%/-5% in 2008/2009, respectively. The broker expects a minor impact this time on a better growth outlook and because the company is well-positioned to offset macro headwinds.

For 1Q25, the broker forecasts 5% increase in revenue to US$796m vs consensus of US$808m. The focus will be on fee/day recovery, new product pipeline and potential litigation and ASX-listing updates.

Buy. Target cut to $173.50 from $184.60.

This report was published on April 30, 2025.

Target price is $173.50 Current Price is $139.26 Difference: $34.24
If LNW meets the Goldman Sachs target it will return approximately 25% (excluding dividends, fees and charges).
Current consensus price target is $202.20, suggesting upside of 45.2%(ex-dividends)
The company’s fiscal year ends in December.

Forecast for FY25:

Goldman Sachs forecasts a full year FY25 dividend of 0.00 cents and EPS of 1065.33 cents.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 13.07.

How do these forecasts compare to market consensus projections?

Current consensus EPS estimate is 617.6, implying annual growth of 7.9%.
Current consensus DPS estimate is N/A, implying a prospective dividend yield of N/A.
Current consensus EPS estimate suggests the PER is 22.5.

Forecast for FY26:

Goldman Sachs forecasts a full year FY26 dividend of 0.00 cents and EPS of 1208.30 cents.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 11.53.

How do these forecasts compare to market consensus projections?

Current consensus EPS estimate is 758.1, implying annual growth of 22.7%.
Current consensus DPS estimate is N/A, implying a prospective dividend yield of N/A.
Current consensus EPS estimate suggests the PER is 18.4.

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

MAC    MAC COPPER LIMITED

Copper – Overnight Price: $14.10

Wilsons rates ((MAC)) as Overweight (1) –

MAC Copper reported weaker-than-expected March quarter copper output of 8.64kt, down -24% quarter-on-quarter and -10% below Wilsons’ forecast, due to mine sequencing delays.

C1 costs rose to US$1.91/lb, but March’s standalone result of 4kt at US$1.49/lb highlighted cost-reduction potential, Wilsons notes.

Management retained guidance, though meeting the lower end requires stepped-up mining volumes. Wilsons flags upside from zinc development at Merrin, and long-term production scaling to over 50ktpa.

The broker notes the CSA mine has 12 years of reserves at 3.4% Cu and a resource grade of 5.4% Cu.  Wilsons lowersFY25 earnings forecasts by -5%, and the copper price forecast for the next two quarters is reduced to US$4.00/lb.

Price target falls to $22.00 from $24.50. Overweight rating retained.

This report was published on May 1, 2025.

Target price is $22.00 Current Price is $14.10 Difference: $7.9
If MAC meets the Wilsons target it will return approximately 56% (excluding dividends, fees and charges).
The company’s fiscal year ends in December.

Forecast for FY25:

Wilsons forecasts a full year FY25 dividend of 0.00 cents and EPS of 93.93 cents.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 15.01.

Forecast for FY26:

Wilsons forecasts a full year FY26 dividend of 0.00 cents and EPS of 214.60 cents.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 6.57.

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

MAH    MACMAHON HOLDINGS LIMITED

Mining Sector Contracting – Overnight Price: $0.28

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

Petra Capital retains a Buy rating and $0.39 target for Macmahon, highlighting recent contract extensions at Vault’s Deflector and Genesis’ Gwalia and Ulysses mines, totalling $114m in revenue, or around 4.6% of the broker’s next-twelve-months estimates.

All 2025 contract expiries have now been renewed, and Petra notes management retains FY25 earnings (EBITA) guidance of $160175m. 

Buy rated with 39c target price.

This report was published on April 30, 2025.

Target price is $0.39 Current Price is $0.28 Difference: $0.11
If MAH meets the Petra Capital target it will return approximately 39% (excluding dividends, fees and charges).
The company’s fiscal year ends in June.

Forecast for FY25:

Petra Capital forecasts a full year FY25 dividend of 1.50 cents and EPS of 4.60 cents.
At the last closing share price the estimated dividend yield is 5.36%.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 6.09.

Forecast for FY26:

Petra Capital forecasts a full year FY26 dividend of 1.50 cents and EPS of 5.10 cents.
At the last closing share price the estimated dividend yield is 5.36%.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 5.49.

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

MGR    MIRVAC GROUP

Infra & Property Developers – Overnight Price: $2.30

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

Mirvac Group’s 3Q25 update showed residential sales were down -12% q/q but pre-sales were elevated at $2.1bn. Jarden notes the company is well-positioned to gain from residential under-supply.

FY25 guidance for operating EPS and residential settlements was maintained, which implied a bigger skew to 4Q due to weather impacts.

The company marked to market debt cost, trimming FY25 outlook to 5.6% from 5.7%, and the broker highlights it has the narrowest gap to the marginal cost of debt.

The broker expects moderating cost inflation to be a tailwind, boosting profit growth in the next three years. Overweight. Target unchanged at $2.35.

This report was published on May 1, 2025.

Target price is $2.35 Current Price is $2.30 Difference: $0.05
If MGR meets the Jarden target it will return approximately 2% (excluding dividends, fees and charges).
Current consensus price target is $2.31, suggesting upside of 0.3%(ex-dividends)
The company’s fiscal year ends in June.

Forecast for FY25:

Jarden forecasts a full year FY25 dividend of 9.00 cents and EPS of 12.20 cents.
At the last closing share price the estimated dividend yield is 3.91%.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 18.85.

How do these forecasts compare to market consensus projections?

Current consensus EPS estimate is 12.2, implying annual growth of N/A.
Current consensus DPS estimate is 9.0, implying a prospective dividend yield of 3.9%.
Current consensus EPS estimate suggests the PER is 18.9.

Forecast for FY26:

Jarden forecasts a full year FY26 dividend of 9.80 cents and EPS of 13.50 cents.
At the last closing share price the estimated dividend yield is 4.26%.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 17.04.

How do these forecasts compare to market consensus projections?

Current consensus EPS estimate is 13.5, implying annual growth of 10.7%.
Current consensus DPS estimate is 9.7, implying a prospective dividend yield of 4.2%.
Current consensus EPS estimate suggests the PER is 17.0.

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

MIN    MINERAL RESOURCES LIMITED

Iron Ore – Overnight Price: $20.90

Goldman Sachs rates ((MIN)) as Sell (5) –

Goldman Sachs notes Mineral Resources’ 3Q25 result was better than expected, with the drop in iron ore shipments due to wet weather not as bad as estimated. Iron ore price realisations and lithium volumes also beat the broker’s forecasts.

The analyst suggests the highlight was the company confirming it has no plans to raise equity and will manage debt and financial covenants.

The update on Ashburon iron ore mine was also positive, with the broker expecting the FY25 cost guidance to be achieved.

Shipments guidance at Ashburton was cut but it was still higher than the broker’s estimate. On the other hand, mining services EBITDA for FY25 is expected to take a hit as smaller contractor trucks are being used.

FY25-26 EBITDA forecasts lifted by 35% and 13%, respectively, on lower costs and higher iron ore price realisations and sales volume.

Target price rises to $21 from $18. Sell retained on valuation.

This report was published on April 29, 2025.

Target price is $21.00 Current Price is $20.90 Difference: $0.1
If MIN meets the Goldman Sachs target it will return approximately 0% (excluding dividends, fees and charges).
Current consensus price target is $28.66, suggesting upside of 37.1%(ex-dividends)
The company’s fiscal year ends in June.

Forecast for FY25:

Goldman Sachs forecasts a full year FY25 dividend of 0.00 cents and EPS of minus 109.00 cents.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is minus 19.17.

How do these forecasts compare to market consensus projections?

Current consensus EPS estimate is -85.7, 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 N/A.

Forecast for FY26:

Goldman Sachs forecasts a full year FY26 dividend of 14.00 cents and EPS of 58.00 cents.
At the last closing share price the estimated dividend yield is 0.67%.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 36.03.

How do these forecasts compare to market consensus projections?

Current consensus EPS estimate is 146.0, 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 14.3.

Market Sentiment: 0.9
All consensus data are updated until yesterday. FNArena’s consensus calculations require a minimum of three sources

NST    NORTHERN STAR RESOURCES LIMITED

Gold & Silver – Overnight Price: $19.17

Goldman Sachs rates ((NST)) as Buy (1) –

Northern Star Resources revised FY25 guidance lower to 1,630-1,660koz from 1,650-1,800koz for reasons including operational challenges at Kalgoorlie Consolidated Gold Mine. Cost guidance was pushed higher to $2,100-2,200/oz from $1,850-2,100/oz.

The downgrade follows a weaker-than-expected 3Q25 where gold production fell -7% short of Goldman Sachs’ forecast and cost was 6% higher.

The broker reckons the company is unlikely to achieve the 2Mozpa target in FY26 and pushed back its forecast to mid-2027. The analyst expects FY26 guidance to be issued in July and is estimating 1.86Moz.

Buy. Target price $22.10.

This report was published on April 29, 2025.

Target price is $22.10 Current Price is $19.17 Difference: $2.93
If NST meets the Goldman Sachs target it will return approximately 15% (excluding dividends, fees and charges).
Current consensus price target is $22.55, suggesting upside of 17.6%(ex-dividends)
The company’s fiscal year ends in June.

Forecast for FY25:

Goldman Sachs forecasts a full year FY25 dividend of 65.00 cents and EPS of 125.10 cents.
At the last closing share price the estimated dividend yield is 3.39%.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 15.32.

How do these forecasts compare to market consensus projections?

Current consensus EPS estimate is 106.8, implying annual growth of 92.1%.
Current consensus DPS estimate is 49.8, implying a prospective dividend yield of 2.6%.
Current consensus EPS estimate suggests the PER is 17.9.

Forecast for FY26:

Goldman Sachs forecasts a full year FY26 dividend of 76.40 cents and EPS of 216.10 cents.
At the last closing share price the estimated dividend yield is 3.99%.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 8.87.

How do these forecasts compare to market consensus projections?

Current consensus EPS estimate is 158.7, implying annual growth of 48.6%.
Current consensus DPS estimate is 52.7, implying a prospective dividend yield of 2.7%.
Current consensus EPS estimate suggests the PER is 12.1.

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

Jarden rates ((NST)) as Neutral (3) –

Plenty of disappointment in Northern Star Resources’ 3Q25 result, but the impact on Jarden’s EBITDA forecasts was limited because of conservative pre-result forecasts.

The 3Q production missed the broker’s estimate by -6%, sales by -7%, and cost was 6% higher. The company cut FY25 production guidance and lifted cost guidance more materially, leading the broker to cut production forecast by -2% and increase cost forecast by 3%.

The analyst believes the company will also likely downgrade its previous FY26 production target of 2moz. EBITDA forecast for FY25 cut by -3% and by -4% for FY26.

Target rises to $18.30 from $18.10. Neutral maintained as the broker balances the target using US$2,200/oz long-term gold price forecast vs implied valuation of $34.50 at spot gold price.

This report was published on May 1, 2025.

Target price is $18.30 Current Price is $19.17 Difference: minus $0.87 (current price is over target).
If NST meets the Jarden target it will return approximately minus 5% (excluding dividends, fees and charges – negative figures indicate an expected loss).
Current consensus price target is $22.55, suggesting upside of 17.6%(ex-dividends)
The company’s fiscal year ends in June.

Forecast for FY25:

Jarden forecasts a full year FY25 dividend of 55.00 cents and EPS of 113.70 cents.
At the last closing share price the estimated dividend yield is 2.87%.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 16.86.

How do these forecasts compare to market consensus projections?

Current consensus EPS estimate is 106.8, implying annual growth of 92.1%.
Current consensus DPS estimate is 49.8, implying a prospective dividend yield of 2.6%.
Current consensus EPS estimate suggests the PER is 17.9.

Forecast for FY26:

Jarden forecasts a full year FY26 dividend of 60.00 cents and EPS of 143.90 cents.
At the last closing share price the estimated dividend yield is 3.13%.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 13.32.

How do these forecasts compare to market consensus projections?

Current consensus EPS estimate is 158.7, implying annual growth of 48.6%.
Current consensus DPS estimate is 52.7, implying a prospective dividend yield of 2.7%.
Current consensus EPS estimate suggests the PER is 12.1.

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

ORG    ORIGIN ENERGY LIMITED

Infrastructure & Utilities – Overnight Price: $10.86

Jarden rates ((ORG)) as Neutral (3) –

Origin Energy’s 3Q25 APLNG revenue missed Jarden’s forecast by -4%, but electricity sales proved 1% higher. Octopus Energy continued its positive growth momentum with 0.2m rise in UK customers q/q and 0.5m rise internationally.

The company flagged no further distributions from APLNG in 4Q, and the broker reckons the deferral to FY26 may be done so the dividend can be fully franked.

FY25 guidance was unchanged, and the FY26 guidance included a comment 75% of expected coal volume was fully contracted or hedged at prices in line with FY25. The broker lowered FY26 coal cost estimate to $159/t from $169/t.

EPS forecast for FY25 lifted by 7.3% mainly on lower tax expense, and FY26 raised by 4.5% on higher gas sales.

Neutral. Target increases to $10.25 from $10.00.

This report was published on April 30, 2025.

Target price is $10.25 Current Price is $10.86 Difference: minus $0.61 (current price is over target).
If ORG meets the Jarden target it will return approximately minus 6% (excluding dividends, fees and charges – negative figures indicate an expected loss).
Current consensus price target is $10.69, suggesting downside of -1.5%(ex-dividends)
The company’s fiscal year ends in June.

Forecast for FY25:

Jarden forecasts a full year FY25 dividend of 60.00 cents and EPS of 89.30 cents.
At the last closing share price the estimated dividend yield is 5.52%.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 12.16.

How do these forecasts compare to market consensus projections?

Current consensus EPS estimate is 91.2, implying annual growth of 12.4%.
Current consensus DPS estimate is 59.4, implying a prospective dividend yield of 5.5%.
Current consensus EPS estimate suggests the PER is 11.9.

Forecast for FY26:

Jarden forecasts a full year FY26 dividend of 60.00 cents and EPS of 68.50 cents.
At the last closing share price the estimated dividend yield is 5.52%.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 15.85.

How do these forecasts compare to market consensus projections?

Current consensus EPS estimate is 67.0, implying annual growth of -26.5%.
Current consensus DPS estimate is 61.6, implying a prospective dividend yield of 5.7%.
Current consensus EPS estimate suggests the PER is 16.2.

Market Sentiment: 0.4
All consensus data are updated until yesterday. FNArena’s consensus calculations require a minimum of three sources

PLT    PLENTI GROUP LIMITED

Business & Consumer Credit – Overnight Price: $0.86

Wilsons rates ((PLT)) as Overweight (1) –

Plenti reported a strong 4Q25 with originations up 42% year-on-year and cash net profit after tax rising 126% to $13.8m, 36% ahead of Wilsons’ forecasts.

Personal loan originations increased 58%, auto loans 35%, and renewable loans 27%. The NAB partnership grew to $11m in originations for the quarter, up from $3m in 3Q. The loan book rose 19% to $2.5bn, the broker notes.

Wilsons raises FY2627 cash net profit after forecasts by 47% and 19% respectively, citing operating leverage and sustained origination strength.

Overweight rating retained. Target price rises to $1.58 from $1.46. 

This report was published on May 1, 2025.

Target price is $1.58 Current Price is $0.86 Difference: $0.72
If PLT meets the Wilsons target it will return approximately 84% (excluding dividends, fees and charges).
The company’s fiscal year ends in March.

Forecast for FY25:

Wilsons forecasts a full year FY25 dividend of 0.00 cents and EPS of 0.20 cents.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 430.00.

Forecast for FY26:

Wilsons forecasts a full year FY26 dividend of 0.00 cents and EPS of 1.90 cents.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 45.26.

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

PPE    PEOPLEIN LIMITED

Jobs & Skilled Labour Services – Overnight Price: $0.75

Wilsons rates ((PPE)) as Overweight (1) –

PeopleIn reported 3Q FY25 unaudited earnings (EBITDA) of $6.3m, down -9% year-on-year due to $0.8m in weather-related disruptions across Queensland, Wilsons notes.

Despite this, cash conversion remained strong at around 200%, with net debt/ earnings (EBITDA) falling to 1.59x.

The broker sees pressure on maintaining the $910m quarterly earnings (EBITDA) run rate into the June quarter amid weaker conditions and public holiday disruptions.

Wilsons lowers FY2527 earnings forecasts by -7% to -10% and cuts the price target by -12% to $1.05 from $1.19.

Overweight rating retained, the analyst stresses the company’s strong relative performance versus larger peers. 

This report was published on May 1, 2025.

Target price is $1.05 Current Price is $0.75 Difference: $0.3
If PPE meets the Wilsons target it will return approximately 40% (excluding dividends, fees and charges).
The company’s fiscal year ends in June.

Forecast for FY25:

Wilsons forecasts a full year FY25 dividend of 0.00 cents and EPS of 6.70 cents.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 11.19.

Forecast for FY26:

Wilsons forecasts a full year FY26 dividend of 4.90 cents and EPS of 10.80 cents.
At the last closing share price the estimated dividend yield is 6.53%.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 6.94.

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

QBE    QBE INSURANCE GROUP LIMITED

Insurance – Overnight Price: $21.55

Goldman Sachs rates ((QBE)) as Buy (1) –

Goldman Sachs’ analysts took a look at Beazley’s 1Q25 update for potential implications for QBE Insurance, noting the picture appeared mixed with rate pressure continuing even though rates are largely adequate.

What was missing was a comment on how much rate pressure could be absorbed before the rate becomes inadequate, as this is important for QBE’s outlook, the broker notes.

Beazley has a positive outlook for cyber, which was flagged as a growth area by QBE too. Buy. Target unchanged at $25.

This report was published on April 30, 2025.

Target price is $25.00 Current Price is $21.55 Difference: $3.45
If QBE meets the Goldman Sachs target it will return approximately 16% (excluding dividends, fees and charges).
Current consensus price target is $23.35, suggesting upside of 8.3%(ex-dividends)
The company’s fiscal year ends in December.

Forecast for FY25:

Goldman Sachs forecasts a full year FY25 dividend of 89.10 cents and EPS of 175.56 cents.
At the last closing share price the estimated dividend yield is 4.13%.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 12.28.

How do these forecasts compare to market consensus projections?

Current consensus EPS estimate is 180.7, implying annual growth of N/A.
Current consensus DPS estimate is 89.2, implying a prospective dividend yield of 4.1%.
Current consensus EPS estimate suggests the PER is 11.9.

Forecast for FY26:

Goldman Sachs forecasts a full year FY26 dividend of 97.70 cents and EPS of 197.54 cents.
At the last closing share price the estimated dividend yield is 4.53%.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 10.91.

How do these forecasts compare to market consensus projections?

Current consensus EPS estimate is 196.0, implying annual growth of 8.5%.
Current consensus DPS estimate is 97.2, implying a prospective dividend yield of 4.5%.
Current consensus EPS estimate suggests the PER is 11.0.

This company reports in USD. 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

RMS    RAMELIUS RESOURCES LIMITED

Gold & Silver – Overnight Price: $2.71

Canaccord Genuity rates ((RMS)) as Buy (1) –

Ramelius Resources’ 3Q25 production was in line with Canaccord Genuity’s forecast, and cost was -2% lower. The tightened production guidance for FY25 implied a 3.5% upgrade at midpoint, while the cost guidance was broadly unchanged.

The analyst, however, expects a slightly better outcome, forecasting FY25 production of 298kz at $1,553/oz vs the company’s guidance midpoint of 295koz and cost of $1,600/oz.

The broker expects a cash balance of $775m at the end of FY25 based on free cash flow of $192m in 4Q.

Buy. Target unchanged at $3.55.

This report was published on April 29, 2025.

Target price is $3.55 Current Price is $2.71 Difference: $0.84
If RMS meets the Canaccord Genuity target it will return approximately 31% (excluding dividends, fees and charges).
Current consensus price target is $2.93, suggesting upside of 8.1%(ex-dividends)
The company’s fiscal year ends in June.

Forecast for FY25:

Canaccord Genuity forecasts a full year FY25 dividend of 12.00 cents and EPS of 37.00 cents.
At the last closing share price the estimated dividend yield is 4.43%.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 7.32.

How do these forecasts compare to market consensus projections?

Current consensus EPS estimate is 35.7, implying annual growth of 82.8%.
Current consensus DPS estimate is 8.0, implying a prospective dividend yield of 3.0%.
Current consensus EPS estimate suggests the PER is 7.6.

Forecast for FY26:

Canaccord Genuity forecasts a full year FY26 dividend of 8.00 cents and EPS of 28.00 cents.
At the last closing share price the estimated dividend yield is 2.95%.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 9.68.

How do these forecasts compare to market consensus projections?

Current consensus EPS estimate is 23.0, implying annual growth of -35.6%.
Current consensus DPS estimate is 4.5, implying a prospective dividend yield of 1.7%.
Current consensus EPS estimate suggests the PER is 11.8.

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

RUL    RPMGLOBAL HOLDINGS LIMITED

Mining Sector Contracting – Overnight Price: $2.79

Taylor Collison rates ((RUL)) as Outperform (2) –

Taylor Collison reaffirmed the Outperform rating on RPMGlobal but didn’t indicate the target price (target at stock initiation in December 2024 was $3.55).

While the advisory business was net positive due to synergy benefits, the broker believes its divestment makes the stock more appealing and is awaiting details on how the company sees its business going ahead.

1H25 software revenue missed the broker’s forecast, but the outlook looks promising due to a 37% y/y increase in signed total transaction value. The broker expects more growth towards the last few weeks of FY25-end.

This report was published on April 15, 2025.

Current Price is $2.79. Target price not assessed.
The company’s fiscal year ends in June.

Forecast for FY25:

Taylor Collison forecasts a full year FY25 dividend of 0.00 cents and EPS of 3.96 cents.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 70.45.

Forecast for FY26:

Taylor Collison forecasts a full year FY26 dividend of 0.00 cents and EPS of 6.02 cents.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 46.35.

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

SFR    SANDFIRE RESOURCES LIMITED

Copper – Overnight Price: $10.17

Goldman Sachs rates ((SFR)) as Downgrade to Neutral from Buy (3) –

Goldman Sachs assesses Sandfire Resources’ 3Q25 result as weaker-than-expected as wet weather impacted operations.

Copper and zinc production missed the broker’s forecast by -6% and -9%, respectively, and unit costs at both Motheo and Matsa were higher than expected.

The company maintained FY25 guidance, suggesting heavily skewed production in 4Q. The broker is not convinced and is forecasting slightly below, while lifting the cost forecast for Matsa on stronger EUR/USD.

The quarterly result and changes to production and costs resulted in a -7% cut to FY25 EBITDA forecast and a -4% cut to FY26.

Rating downgraded to Neutral from Buy. Target cut to $9.60 from $10.20.

This report was published on April 30, 2025.

Target price is $9.60 Current Price is $10.17 Difference: minus $0.57 (current price is over target).
If SFR meets the Goldman Sachs target it will return approximately minus 6% (excluding dividends, fees and charges – negative figures indicate an expected loss).
Current consensus price target is $10.81, suggesting upside of 6.3%(ex-dividends)
The company’s fiscal year ends in June.

Forecast for FY25:

Goldman Sachs forecasts a full year FY25 dividend of 0.00 cents and EPS of 33.82 cents.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 30.07.

How do these forecasts compare to market consensus projections?

Current consensus EPS estimate is 42.6, 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 23.9.

Forecast for FY26:

Goldman Sachs forecasts a full year FY26 dividend of 16.91 cents and EPS of 63.03 cents.
At the last closing share price the estimated dividend yield is 1.66%.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 16.14.

How do these forecasts compare to market consensus projections?

Current consensus EPS estimate is 63.7, implying annual growth of 49.5%.
Current consensus DPS estimate is 11.2, implying a prospective dividend yield of 1.1%.
Current consensus EPS estimate suggests the PER is 16.0.

This company reports in USD. All estimates have been converted into AUD by FNArena at present FX values.
Market Sentiment: 0.3
All consensus data are updated until yesterday. FNArena’s consensus calculations require a minimum of three sources

SGP    STOCKLAND

Infra & Property Developers – Overnight Price: $5.55

Jarden rates ((SGP)) as Buy (1) –

Jarden notes Stockland’s 3Q25 Masterplanned Communities sales rose 21% q/q, the highest growth in three years and confirming momentum pickup in the business.

The broker highlights the FY25 FFO guidance of 33-34c was reiterated despite a downward revision to FY25 Landlease settlements to 500 from 600, suggesting this is a short-term headwind.

The analyst believes improving sales and pricing momentum would likely boost margins from FY26. No change to forecasts. Buy. Target price $5.95.

This report was published on May 1, 2025.

Target price is $5.95 Current Price is $5.55 Difference: $0.4
If SGP meets the Jarden target it will return approximately 7% (excluding dividends, fees and charges).
Current consensus price target is $5.64, suggesting upside of 1.7%(ex-dividends)
The company’s fiscal year ends in June.

Forecast for FY25:

Jarden forecasts a full year FY25 dividend of 25.30 cents and EPS of 33.70 cents.
At the last closing share price the estimated dividend yield is 4.56%.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 16.47.

How do these forecasts compare to market consensus projections?

Current consensus EPS estimate is 33.4, implying annual growth of 160.9%.
Current consensus DPS estimate is 25.1, implying a prospective dividend yield of 4.5%.
Current consensus EPS estimate suggests the PER is 16.6.

Forecast for FY26:

Jarden forecasts a full year FY26 dividend of 28.30 cents and EPS of 37.70 cents.
At the last closing share price the estimated dividend yield is 5.10%.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 14.72.

How do these forecasts compare to market consensus projections?

Current consensus EPS estimate is 36.9, implying annual growth of 10.5%.
Current consensus DPS estimate is 28.3, implying a prospective dividend yield of 5.1%.
Current consensus EPS estimate suggests the PER is 15.0.

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

SMR    STANMORE RESOURCES LIMITED

Coal – Overnight Price: $2.06

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

Petra Capital maintains a Buy rating on Stanmore Resources and raises the target price to $5.37 from $4.97, citing cost and FX benefits offsetting near-term coal price downgrades.

March quarter production was impacted by wet weather, but saleable output of 3.3Mt was in line with the analyst’s expectations and FY25 guidance is unchanged, with a second-half weighting.

Management lowers FOB cash cost guidance by -4% to US$8590/t, and capex guidance falls -24% to US$80US$90m following completion of major works and deferral of non-essential projects.

Petra Capital notes work on Eagle Downs is delayed to early 2026, while the Isaac Downs Expansion pre-feasibility study supports a 20-year life and 4Mtpa run rate.

This report was published on April 30, 2025.

Target price is $5.37 Current Price is $2.06 Difference: $3.31
If SMR meets the Petra Capital target it will return approximately 161% (excluding dividends, fees and charges).
The company’s fiscal year ends in December.

Forecast for FY25:

Petra Capital forecasts a full year FY25 dividend of 14.91 cents and EPS of 28.75 cents.
At the last closing share price the estimated dividend yield is 7.24%.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 7.17.

Forecast for FY26:

Petra Capital forecasts a full year FY26 dividend of 11.20 cents and EPS of 22.10 cents.
At the last closing share price the estimated dividend yield is 5.44%.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 9.32.

This company reports in USD. All estimates have been converted into AUD by FNArena at present FX values.
Market Sentiment: 1.0
All consensus data are updated until yesterday. FNArena’s consensus calculations require a minimum of three sources

VAU    VAULT MINERALS LIMITED

Gold & Silver – Overnight Price: $0.42

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

Vault Minerals reported March quarter gold production of 87,110oz, down -11% quarter-on-quarter and -15% below Petra Capital’s forecast.

Group all-in-sustaining-costs rose to $2,553/oz, up 12.6% quarter-on-quarter. Net cash and bullion rose $49m to $625m after $59m in growth capex and delivery of 39,615oz into hedges at $2,782/oz.

Management’s FY25 sales guidance of 390410koz at $2,250$2,450/oz AISC is maintained.

Production was lower across all sites, Leonora down -10%, due to narrow stope scheduling, Mount Monger down -6% from mill shutdowns, and Deflector down -17% from lower grades and throughput.

The broker notes commissioning at KOTH Stage 1 is underway, while development at Spanish Galleon has started, with first ore due September 2025.

Petra adjusts EPS forecasts with FY25 falling -8%, but FY2627 EPS lifting 43%52% on gold price upgrades.

Price target increases 11% to 76c from 68c. Buy rating retained.

This report was published on April 30, 2025.

Target price is $0.76 Current Price is $0.42 Difference: $0.335
If VAU meets the Petra Capital target it will return approximately 79% (excluding dividends, fees and charges).
The company’s fiscal year ends in June.

Forecast for FY25:

Petra Capital forecasts a full year FY25 dividend of 0.00 cents and EPS of 3.60 cents.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 11.81.

Forecast for FY26:

Petra Capital forecasts a full year FY26 dividend of 2.00 cents and EPS of 9.30 cents.
At the last closing share price the estimated dividend yield is 4.71%.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 4.57.

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: $20.61

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

Woodside Energy has approved the 16.5mtpa LALNG project for US$17.5bn (US$11.8bn net), with first LNG targeted in 2029.

Goldman Sachs notes capex exceeds prior guidance, with -US$15.9bn for the plant, -US$1.1bn for pipeline, and -US$0.5bn in other costs.

The analyst highlights supply costs suggest a US$2.9/mmbtu margin is required for a 12% pre-tax internal rate of return, or around 9% post-tax including the Tellurian acquisition.

The company expects over a 13% internal rate of return, implying a US$3.50/mmbtu margin, the broker highlights, The return is seen as difficult to sustain over the project’s 40-year life and given Goldman Sachs’ forecast oversupply from 2027.

Woodside will look to reduce equity to maintain circa 8mtpa exposure, Goldman Sachs explains. The stock remains Neutral rated. Target price slips to $22.90 from $24.20.

This report was published on April 30, 2025.

Target price is $22.90 Current Price is $20.61 Difference: $2.29
If WDS meets the Goldman Sachs target it will return approximately 11% (excluding dividends, fees and charges).
Current consensus price target is $25.30, suggesting upside of 22.8%(ex-dividends)
The company’s fiscal year ends in December.

Forecast for FY25:

Goldman Sachs forecasts a full year FY25 EPS of 132.21 cents.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 15.59.

How do these forecasts compare to market consensus projections?

Current consensus EPS estimate is 159.2, implying annual growth of N/A.
Current consensus DPS estimate is 135.1, implying a prospective dividend yield of 6.6%.
Current consensus EPS estimate suggests the PER is 12.9.

Forecast for FY26:

Goldman Sachs forecasts a full year FY26 EPS of 72.25 cents.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 28.53.

How do these forecasts compare to market consensus projections?

Current consensus EPS estimate is 102.3, implying annual growth of -35.7%.
Current consensus DPS estimate is 80.9, implying a prospective dividend yield of 3.9%.
Current consensus EPS estimate suggests the PER is 20.1.

This company reports in USD. All estimates have been converted into AUD by FNArena at present FX values.
Market Sentiment: 0.2
All consensus data are updated until yesterday. FNArena’s consensus calculations require a minimum of three sources

WHC    WHITEHAVEN COAL LIMITED

Coal – Overnight Price: $5.05

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

Whitehaven Coal’s 3Q25 coal production beat Goldman Sachs’ forecast by 6%, but sales fell short by -3%. The company reiterated FY25 production to the top of the 35.0-39.5Mt range, and the broker maintained its forecast for 38.2Mt.

The analyst notes the production guidance implies a strong 4Q, with ongoing benefits like to come from improved mining productivity and open-cut activity during drier months.

The company expects FY25 cost to come at the bottom of $140-$155/t range, but the broker’s forecast was previously below the range, prompting a lift to $141/t. 

Neutral. Target unchanged at $5.70.

This report was published on April 29, 2025.

Target price is $5.70 Current Price is $5.05 Difference: $0.65
If WHC meets the Goldman Sachs target it will return approximately 13% (excluding dividends, fees and charges).
Current consensus price target is $6.94, suggesting upside of 37.3%(ex-dividends)
The company’s fiscal year ends in June.

Forecast for FY25:

Goldman Sachs forecasts a full year FY25 dividend of 12.00 cents and EPS of 34.00 cents.
At the last closing share price the estimated dividend yield is 2.38%.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 14.85.

How do these forecasts compare to market consensus projections?

Current consensus EPS estimate is 34.9, implying annual growth of -21.5%.
Current consensus DPS estimate is 16.7, implying a prospective dividend yield of 3.3%.
Current consensus EPS estimate suggests the PER is 14.5.

Forecast for FY26:

Goldman Sachs forecasts a full year FY26 dividend of 7.00 cents and EPS of 14.00 cents.
At the last closing share price the estimated dividend yield is 1.39%.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 36.07.

How do these forecasts compare to market consensus projections?

Current consensus EPS estimate is 37.4, implying annual growth of 7.2%.
Current consensus DPS estimate is 12.9, implying a prospective dividend yield of 2.6%.
Current consensus EPS estimate suggests the PER is 13.5.

Market Sentiment: 0.7
All consensus data are updated until yesterday. FNArena’s consensus calculations require a minimum of three sources

WIA    WIA GOLD LIMITED

Gold & Silver – Overnight Price: $0.20

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

Petra Capital notes WIA Gold reported strong March quarter activity at the Kokoseb Gold Project in Namibia.

Drilling totalled 25,444m across five rigs, targeting resource conversion and deeper high-grade extensions.  The analyst reckons a resource update is due in the June quarter, with potential to lift the current 2.1Moz resource to 2.53.0Moz.

The Scoping Study is underway and expected to be completed in the September quarter.

No change to Buy rating with a 30c target price.

This report was published on April 30, 2025.

Target price is $0.30 Current Price is $0.20 Difference: $0.105
If WIA meets the Petra Capital target it will return approximately 54% (excluding dividends, fees and charges).
The company’s fiscal year ends in June.

Forecast for FY25:

Petra Capital forecasts a full year FY25 dividend of 0.00 cents and EPS of minus 0.90 cents.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is minus 21.67.

Forecast for FY26:

Petra Capital forecasts a full year FY26 dividend of 0.00 cents and EPS of 3.30 cents.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 5.91.

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.

Click to view our Glossary of Financial Terms