Daily Market Reports | Jun 23 2025
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)
AMI (2) BSL BTR CNI CU6 CWP D2O HGO HRZ KLS KMD NST SDR SEK SYL VSL
AMI AURELIA METALS LIMITED
Gold & Silver - Overnight Price: $0.20
Moelis rates ((AMI)) as Buy (1) -
Aurelia Metals published FY26 production guidance and targets for FY27-28, and Moelis notes the guidance ranges are within its estimates.
The company also provided costs and capital forecasts, with both signficantly higher than the broker's forecast. FY26 operating cost guidance of -$275-315m compared with the broker's estimate of -$250m, while capex of -$125m at midpoint is higher than the broker's forecast of -$80m.
The broker expects to lift cost estimates, which makes its 20% FY26 free cash flow yield unlikely, though this would be partly offset by higher commodity prices.
Buy. Target unchanged at 40c.
This report was published on June 19, 2025.
Target price is $0.40 Current Price is $0.20 Difference: $0.195
If AMI meets the Moelis target it will return approximately 95% (excluding dividends, fees and charges).
Market Sentiment: 1.0
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources
BSL BLUESCOPE STEEL LIMITED
Steel & Scrap - Overnight Price: $22.46
Jarden rates ((BSL)) as Overweight (2) -
Jarden has reiterated its positive outlook on BlueScope Steel, noting yet again the potential for earnings upside in the US from stronger US steel spreads and benefits of tariff hikes.
In Australia, the broker sees decent earnings growth in the medium term following a cost optimisation program and cyclical recovery. For NZ and Pacific Islands, the outlook is expected to remain challenging.
Minor revisions to FY25-27 EPS forecasts. Overweight.
Target lifted to $25.30 from $24.00, largely on valuation roll-forward.
This report was published on June 19, 2025.
Target price is $25.30 Current Price is $22.46 Difference: $2.84
If BSL meets the Jarden target it will return approximately 13% (excluding dividends, fees and charges).
Current consensus price target is $27.34, suggesting upside of 22.8%(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 105.70 cents.
At the last closing share price the estimated dividend yield is 2.67%.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 21.25.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 2.7%.
Current consensus EPS estimate suggests the PER is 22.1.
Forecast for FY26:
Jarden forecasts a full year FY26 dividend of 60.00 cents and EPS of 177.60 cents.
At the last closing share price the estimated dividend yield is 2.67%.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 12.65.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 2.7%.
Current consensus EPS estimate suggests the PER is 10.6.
Market Sentiment: 0.6
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources
BTR BRIGHTSTAR RESOURCES LIMITED
Gold & Silver - Overnight Price: $0.49
Petra Capital rates ((BTR)) as Buy (1) -
Petra Capital notes Brightstar Resources is on track for first stoping ore from the Fish Gold mine in the September quarter, adding a second underground ore resource.
Further exploration at the mine also continues. Near-term catalyst is the Laverton definitive feasilbility study expected in the coming weeks.
Buy. Target cut to $1.18 from $1.20 on equity dilution.
This report was published on June 19, 2025.
Target price is $1.18 Current Price is $0.49 Difference: $0.685
If BTR meets the Petra Capital target it will return approximately 138% (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 0.10 cents.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 495.00.
Forecast for FY26:
Petra Capital forecasts a full year FY26 dividend of 0.00 cents and EPS of 9.10 cents.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 5.44.
Market Sentiment: 1.0
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources
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