Australian Broker Call *Extra* Edition – Nov 03, 2025

Array
(
    [0] => Array
        (
            [0] => ((APE))
            [1] => ((AUB))
            [2] => ((CSL))
            [3] => ((CYG))
            [4] => ((FFM))
            [5] => ((GGP))
            [6] => ((IKE))
            [7] => ((LTR))
            [8] => ((NWL))
            [9] => ((MQG))
            [10] => ((HUB))
            [11] => ((PNR))
            [12] => ((PRU))
            [13] => ((SFR))
            [14] => ((SLX))
            [15] => ((TCG))
        )

    [1] => Array
        (
            [0] => APE
            [1] => AUB
            [2] => CSL
            [3] => CYG
            [4] => FFM
            [5] => GGP
            [6] => IKE
            [7] => LTR
            [8] => NWL
            [9] => MQG
            [10] => HUB
            [11] => PNR
            [12] => PRU
            [13] => SFR
            [14] => SLX
            [15] => TCG
        )

)

This story features EAGERS AUTOMOTIVE LIMITED, and other companies.
For more info SHARE ANALYSIS: APE
The company is included in ASX100, ASX200, ASX300 and 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)

APE   AUB   CSL   CYG   FFM   GGP   IKE   LTR   NWL   PNR   PRU   SFR   SLX   TCG  

APE    EAGERS AUTOMOTIVE LIMITED

Automobiles & Components – Overnight Price: $34.06

Jarden rates ((APE)) as Neutral (3) –

Jarden keeps Eagers Automotive on Neutral and leaves its price target at $26.50 (unchanged).

The broker comments the investor day has boosted confidence in three levers: CanadaOne’s partner-equity model and OEM relationships supporting consolidation; easyauto123’s sourcing/CRM advantages driving circa 30-day turns and around $1,526 NPAT per unit (vs $500); and the BYD retail JV as a material growth engine.

BYD volumes are up 159% y/y HTD (Sep-25) with a trajectory to circa 50k units in FY25, four new models from Dec-25, and Denza launch targets lifted to 15–20k units.

Forecasts are unchanged.

This report was published on October 28, 2025.

Target price is $26.50 Current Price is $34.06 Difference: minus $7.56 (current price is over target).
If APE meets the Jarden target it will return approximately minus 22% (excluding dividends, fees and charges – negative figures indicate an expected loss).
Current consensus price target is $29.38, suggesting downside of -14.4%(ex-dividends)
The company’s fiscal year ends in December.

Forecast for FY25:

Jarden forecasts a full year FY25 dividend of 84.20 cents and EPS of 103.40 cents.
At the last closing share price the estimated dividend yield is 2.47%.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 32.94.

How do these forecasts compare to market consensus projections?

Current consensus EPS estimate is 101.2, implying annual growth of 29.0%.
Current consensus DPS estimate is 75.4, implying a prospective dividend yield of 2.2%.
Current consensus EPS estimate suggests the PER is 33.9.

Forecast for FY26:

Jarden forecasts a full year FY26 dividend of 100.70 cents and EPS of 123.70 cents.
At the last closing share price the estimated dividend yield is 2.96%.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 27.53.

How do these forecasts compare to market consensus projections?

Current consensus EPS estimate is 119.7, implying annual growth of 18.3%.
Current consensus DPS estimate is 80.6, implying a prospective dividend yield of 2.3%.
Current consensus EPS estimate suggests the PER is 28.7.

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

AUB    AUB GROUP LIMITED

Insurance – Overnight Price: $36.94

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

Jarden observes AUB Group’s valuation has re-rated to 18.5x P/E from 16.5x following news suggesting Swedish private equity firm EQT may be considering a takeover.

It’s thought ongoing consolidation across Australian and US insurance broking will continue to support sector valuations, prompting the broker to raise its relative multiple to 1.13x from 1.07x.

The broker points to risks including weaker premium and commission rates or reduced corporate activity.

Jarden views the group as attractively priced despite recent outperformance. An Overweight rating is maintained. The target is increased to $38.20 from $37.05.

This report was published on October 28, 2025.

Target price is $38.20 Current Price is $36.94 Difference: $1.26
If AUB meets the Jarden target it will return approximately 3% (excluding dividends, fees and charges).
Current consensus price target is $40.02, suggesting upside of 8.5%(ex-dividends)
The company’s fiscal year ends in June.

Forecast for FY26:

Jarden forecasts a full year FY26 dividend of 104.30 cents and EPS of 188.60 cents.
At the last closing share price the estimated dividend yield is 2.82%.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 19.59.

How do these forecasts compare to market consensus projections?

Current consensus EPS estimate is 182.3, implying annual growth of 18.0%.
Current consensus DPS estimate is 104.2, implying a prospective dividend yield of 2.8%.
Current consensus EPS estimate suggests the PER is 20.2.

Forecast for FY27:

Jarden forecasts a full year FY27 dividend of 115.00 cents and EPS of 210.30 cents.
At the last closing share price the estimated dividend yield is 3.11%.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 17.57.

How do these forecasts compare to market consensus projections?

Current consensus EPS estimate is 195.3, implying annual growth of 7.1%.
Current consensus DPS estimate is 111.4, implying a prospective dividend yield of 3.0%.
Current consensus EPS estimate suggests the PER is 18.9.

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

CSL    CSL LIMITED

Pharmaceuticals & Biotech/Lifesciences – Overnight Price: $178.50

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

CSL’s AGM delivered another surprise downgrade, just two months after its FY25 result. Jarden notes FY26 guidance has been cut due to weaker influenza vaccination rates in the US and softer albumin demand in China.

Management now expects FY26 constant currency revenue growth of around 2-3%, and profit (NPATA) of US$3.35-3.44bn, representing 4-7% growth, versus prior guidance of 7-10%.

The broker highlights Seqirus as the main driver of the downgrade, with mid-teens revenue declines now expected, and albumin weakness confined to the first half as CSL reallocates volumes to new channels.

Medium-term profit growth guidance has been reduced to high single digits for FY27 and FY28, from the prior double-digit goal.

Jarden lowers its target price to $287.14 from $304 and retains an Overweight rating.

This report was published on October 29, 2025.

Target price is $287.14 Current Price is $178.50 Difference: $108.64
If CSL meets the Jarden target it will return approximately 61% (excluding dividends, fees and charges).
Current consensus price target is $243.96, suggesting upside of 37.0%(ex-dividends)
The company’s fiscal year ends in June.

Forecast for FY26:

Jarden forecasts a full year FY26 dividend of 451.59 cents and EPS of 1018.52 cents.
At the last closing share price the estimated dividend yield is 2.53%.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 17.53.

How do these forecasts compare to market consensus projections?

Current consensus EPS estimate is 1083.4, implying annual growth of N/A.
Current consensus DPS estimate is 495.6, implying a prospective dividend yield of 2.8%.
Current consensus EPS estimate suggests the PER is 16.4.

Forecast for FY27:

Jarden forecasts a full year FY27 dividend of 530.98 cents and EPS of 1108.66 cents.
At the last closing share price the estimated dividend yield is 2.97%.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 16.10.

How do these forecasts compare to market consensus projections?

Current consensus EPS estimate is 1178.4, implying annual growth of 8.8%.
Current consensus DPS estimate is 533.6, implying a prospective dividend yield of 3.0%.
Current consensus EPS estimate suggests the PER is 15.1.

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

CYG    COVENTRY GROUP LIMITED

Hardware & Equipment – Overnight Price: $0.58

Taylor Collison rates ((CYG)) as Initiation of coverage with Outperform (2) –

Taylor Collison initiates coverage of Coventry Group with an Outperform rating and a $1.02 target price, highlighting significant upside potential should the company pursue a divisional separation.

The company operates two distinct divisions, Fluid Systems and Trade Distribution, with minimal strategic overlap, supporting a potential divestment strategy valued at up to 1.7x the current equity value.

ERP implementation challenges have weighed on performance, but the system rollout is nearing completion, and management expects a recovery to FY24 earnings levels by FY26.

Commentary suggests the recent $20m capital raise provides sufficient runway to restore operations and position both divisions for improved performance and strategic optionality.

This report was published on October 23, 2025.

Current Price is $0.58. Target price not assessed.
The company’s fiscal year ends in June.

Forecast for FY26:

Taylor Collison forecasts a full year FY26 dividend of 1.30 cents and EPS of minus 24.90 cents.
At the last closing share price the estimated dividend yield is 2.24%.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is minus 2.33.

Forecast for FY27:

Taylor Collison forecasts a full year FY27 dividend of 0.00 cents and EPS of 4.00 cents.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 14.50.

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

FFM    FIREFLY METALS LIMITED

Gold & Silver – Overnight Price: $1.90

Moelis rates ((FFM)) as Buy (1) –

FireFly Metals’ Green Bay drilling in Canada intercepted strong mineralisation around 650m beyond the existing resource envelope, indicating higher grades at depth, highlights Moelis.

Recent follow-up holes on the resource periphery confirm improved tenor (grade or quality of the mineralisation), observes the broker. Intercepts includied 43.6m at 5.7% copper and 2.1g/t gold, and 44.5m at 3.0% copper and 0.8g/t gold.

These results are viewed by the analyst as confirming step-change continuity and potential to expand the resource envelope by 25%.

Moelis highlights possible corporate interest and increased valuation potential ahead of early-2026 economic studies. Buy rating. Target $1.60.

This report was published on October 28, 2025.

Target price is $1.60 Current Price is $1.90 Difference: minus $0.3 (current price is over target).
If FFM meets the Moelis target it will return approximately minus 16% (excluding dividends, fees and charges – negative figures indicate an expected loss).
Current consensus price target is $1.67, suggesting downside of -12.7%(ex-dividends)
The company’s fiscal year ends in June.

Forecast for FY26:

Moelis forecasts a full year FY26 dividend of 0.00 cents and EPS of minus 5.40 cents.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is minus 35.19.

How do these forecasts compare to market consensus projections?

Current consensus EPS estimate is -2.9, 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 FY27:

Moelis forecasts a full year FY27 dividend of 0.00 cents and EPS of minus 4.70 cents.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is minus 40.43.

How do these forecasts compare to market consensus projections?

Current consensus EPS estimate is -0.6, 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 N/A.

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

GGP    GREATLAND RESOURCES LIMITED

Gold & Silver – Overnight Price: $7.13

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

Jarden keeps its Overweight rating for Greatland Resources and lifts its price target to $6.90 from $5.75.

Commentary states the “cash machine” phase continues: $284m operating cash flow on 80.9koz, taking cumulative OCF to $885m versus the -$541m acquisition cost and leaving circa $750m cash/no debt.

The report also warns margins will compress as ROM stockpiles (down 36% to 4.5Mt) are run down by MQ26.

Also: 88.6% gold recovery —the best since FY2010— is driving an FY26 recovery assumption lift to 86%; group AISC $2,155/oz beat consensus by 10%.

Forecasts havew been raised substantially on higher gold assumptions; Havieron is pushed back by 6 months (to JQ29 for 2.8Mtpa) and FY26 D&A guided to -$120–140m; Jarden’s DCF valuation rises by 20% to $6.90.

This report was published on October 28, 2025.

Target price is $6.90 Current Price is $7.13 Difference: minus $0.23 (current price is over target).
If GGP meets the Jarden target it will return approximately minus 3% (excluding dividends, fees and charges – negative figures indicate an expected loss).
Current consensus price target is $10.50, suggesting upside of 45.6%(ex-dividends)
The company’s fiscal year ends in June.

Forecast for FY26:

Jarden forecasts a full year FY26 dividend of 0.00 cents and EPS of 75.70 cents.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 9.42.

How do these forecasts compare to market consensus projections?

Current consensus EPS estimate is 88.0, implying annual growth of 38.4%.
Current consensus DPS estimate is N/A, implying a prospective dividend yield of N/A.
Current consensus EPS estimate suggests the PER is 8.2.

Forecast for FY27:

Jarden forecasts a full year FY27 dividend of 0.00 cents and EPS of 56.90 cents.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 12.53.

How do these forecasts compare to market consensus projections?

Current consensus EPS estimate is 51.4, implying annual growth of -41.6%.
Current consensus DPS estimate is N/A, implying a prospective dividend yield of N/A.
Current consensus EPS estimate suggests the PER is 14.0.

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

IKE    IKEGPS GROUP LIMITED

Hardware & Equipment – Overnight Price: $1.12

Moelis rates ((IKE)) as Hold (3) –

Moelis notes ikeGPS Group’s first-half FY26 update showed steady progress toward management’s targets, with revenue up 4.9% and subscription income rising 35.1%.

Platform subscriptions now make up 69% of sales, highlights the analyst, reflecting improved customer retention and ongoing growth in seat licences and average revenue per user (ARPU).

Cost discipline supports profitability progress, while new feature investment and product innovation such as automation tools are viewed positively by the broker.

The analysts has moderated near-term subscriber growth expectations, lowering FY26 estimates but lifting FY27 forecasts on stronger ARPU.

Moelis retains a Hold rating and increases its target to $1.02 from 93c..

This report was published on October 28, 2025.

Target price is $1.02 Current Price is $1.12 Difference: minus $0.105 (current price is over target).
If IKE meets the Moelis target it will return approximately minus 9% (excluding dividends, fees and charges – negative figures indicate an expected loss).
The company’s fiscal year ends in March.

Forecast for FY26:

Moelis forecasts a full year FY26 dividend of 0.00 cents and EPS of minus 2.63 cents.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is minus 42.73.

Forecast for FY27:

Moelis forecasts a full year FY27 dividend of 0.00 cents and EPS of 0.55 cents.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 206.42.

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

LTR    LIONTOWN RESOURCES LIMITED

New Battery Elements – Overnight Price: $1.18

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

Liontown Resources’ 1Q26 production of 87kt SC5.0 beat Canaccord Genuity’s forecast of 84kt and consensus of 70kt, with recoveries slightly above expectations.

Cost (AISC) of $1,354/t was better than the broker’s $1,407/t estimate, driven by higher production. Sales, however, missed slightly as shipping delays impacted timing.

The company maintained FY26 guidance. The broker’s production model is weighted to 2H 43:57, with cash costs estimated to fall by over -25% as underground ramps up.

Hold. Target unchanged at $1.10.

This report was published on October 28, 2025.

Target price is $1.10 Current Price is $1.18 Difference: minus $0.075 (current price is over target).
If LTR meets the Canaccord Genuity target it will return approximately minus 6% (excluding dividends, fees and charges – negative figures indicate an expected loss).
Current consensus price target is $0.76, suggesting downside of -37.2%(ex-dividends)
The company’s fiscal year ends in June.

Forecast for FY26:

Canaccord Genuity forecasts a full year FY26 dividend of 0.00 cents and EPS of minus 4.00 cents.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is minus 29.38.

How do these forecasts compare to market consensus projections?

Current consensus EPS estimate is -5.9, 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 FY27:

Canaccord Genuity forecasts a full year FY27 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 39.17.

How do these forecasts compare to market consensus projections?

Current consensus EPS estimate is 0.6, 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 201.7.

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

NWL    NETWEALTH GROUP LIMITED

Wealth Management & Investments – Overnight Price: $30.83

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

Netwealth Group is, according to Jarden, well positioned to navigate risks associated with the First Guardian collapse. The company has formally applied for government financial assistance under the Superannuation Industry Supervision (SIS) Act.

Management maintains the view the issue is one of fraud, contrasting with Macquarie Group ((MQG))’s proactive remediation stance.

Jarden believes short-term impacts will be manageable, with potential government compensation partly offsetting exposure of $101m, or 0.1% of total funds under administration (FUM).

Longer term, the broker expects established platform providers such as Netwealth and Hub24 ((HUB)) to benefit from higher regulatory barriers.

Jarden retains its Overweight rating and $33.10 target price.

This report was published on October 28, 2025.

Target price is $33.10 Current Price is $30.83 Difference: $2.27
If NWL meets the Jarden target it will return approximately 7% (excluding dividends, fees and charges).
Current consensus price target is $32.55, suggesting upside of 5.9%(ex-dividends)
The company’s fiscal year ends in June.

Forecast for FY26:

Jarden forecasts a full year FY26 dividend of 48.90 cents and EPS of 58.20 cents.
At the last closing share price the estimated dividend yield is 1.59%.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 52.97.

How do these forecasts compare to market consensus projections?

Current consensus EPS estimate is 55.2, implying annual growth of 15.9%.
Current consensus DPS estimate is 45.1, implying a prospective dividend yield of 1.5%.
Current consensus EPS estimate suggests the PER is 55.7.

Forecast for FY27:

Jarden forecasts a full year FY27 dividend of 58.30 cents and EPS of 69.40 cents.
At the last closing share price the estimated dividend yield is 1.89%.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 44.42.

How do these forecasts compare to market consensus projections?

Current consensus EPS estimate is 64.9, implying annual growth of 17.6%.
Current consensus DPS estimate is 52.6, implying a prospective dividend yield of 1.7%.
Current consensus EPS estimate suggests the PER is 47.3.

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

PNR    PANTORO GOLD LIMITED

Gold & Silver – Overnight Price: $5.12

Moelis rates ((PNR)) as Hold (3) –

Pantoro Gold’s September quarter result missed expectations held by Moelis due to operational issues at the Scotia and OK underground mines.

The combined impact saw mined grades fell to 2.67g/t from 4.15g/t, driving lower output and free cash flow (FCF) of $3m versus the broker’s $35m forecast.

While the broker notes FY26 guidance of 100-110koz at $1,950-$2,250/oz remains intact, achieving this requires materially higher mill grades through the remainder of the year.

The analysts highlight October production trends improving toward the upper end of guidance.

Hold retained with a $5.85 target price.

This report was published on October 28, 2025.

Target price is $5.85 Current Price is $5.12 Difference: $0.73
If PNR meets the Moelis target it will return approximately 14% (excluding dividends, fees and charges).
Current consensus price target is $5.59, suggesting upside of 8.1%(ex-dividends)
The company’s fiscal year ends in June.

Forecast for FY26:

Moelis forecasts a full year FY26 dividend of 0.00 cents and EPS of 58.00 cents.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 8.83.

How do these forecasts compare to market consensus projections?

Current consensus EPS estimate is 66.9, implying annual growth of 352.0%.
Current consensus DPS estimate is N/A, implying a prospective dividend yield of N/A.
Current consensus EPS estimate suggests the PER is 7.7.

Forecast for FY27:

Moelis forecasts a full year FY27 dividend of 0.00 cents and EPS of 41.80 cents.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 12.25.

How do these forecasts compare to market consensus projections?

Current consensus EPS estimate is 70.8, implying annual growth of 5.8%.
Current consensus DPS estimate is N/A, implying a prospective dividend yield of N/A.
Current consensus EPS estimate suggests the PER is 7.3.

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

PRU    PERSEUS MINING LIMITED

Gold & Silver – Overnight Price: $4.87

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

Canaccord Genuity believes incumbent Alassane Ouattara’s likely fourth term win as the Ivory Coast’s president (he did win) would likely sustain economic growth, investor confidence, and policy stability, especially in infrastructure and mining.

For mining, Ouattara’s victory means continuity and stability, while a power change could bring policy uncertainty and investment delays, the broker explains.

A revised mining code expected in 2026 may raise royalties, taxes, and state interests, though existing licences could be grandfathered.

Perseus Mining and Turaco Gold are two companies with significant exposures in the country.

Buy maintained for Perseus. Target price $7.55.

This report was published on October 21, 2025.

Target price is $7.55 Current Price is $4.87 Difference: $2.68
If PRU meets the Canaccord Genuity target it will return approximately 55% (excluding dividends, fees and charges).
Current consensus price target is $5.26, suggesting upside of 9.2%(ex-dividends)
The company’s fiscal year ends in June.

Forecast for FY26:

Canaccord Genuity forecasts a full year FY26 dividend of 6.23 cents and EPS of 49.81 cents.
At the last closing share price the estimated dividend yield is 1.28%.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 9.78.

How do these forecasts compare to market consensus projections?

Current consensus EPS estimate is 42.5, implying annual growth of N/A.
Current consensus DPS estimate is 9.2, implying a prospective dividend yield of 1.9%.
Current consensus EPS estimate suggests the PER is 11.3.

Forecast for FY27:

Canaccord Genuity forecasts a full year FY27 dividend of 6.23 cents and EPS of 48.26 cents.
At the last closing share price the estimated dividend yield is 1.28%.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 10.09.

How do these forecasts compare to market consensus projections?

Current consensus EPS estimate is 38.2, implying annual growth of -10.1%.
Current consensus DPS estimate is 10.7, implying a prospective dividend yield of 2.2%.
Current consensus EPS estimate suggests the PER is 12.6.

This company reports in USD. All estimates have been converted into AUD by FNArena at present FX values.
Market Sentiment: 0.5
All consensus data are updated until yesterday. FNArena’s consensus calculations require a minimum of three sources

SFR    SANDFIRE RESOURCES LIMITED

Copper – Overnight Price: $16.24

Jarden rates ((SFR)) as Downgrade to Sell from Neutral (5) –

Jarden cuts its rating for Sandfire Resources to Sell from Neutral, while lifting its target to $11.80 from $11.00.

The broker argues valuation is stretched even against an illustrative long-term copper price modeling of US$5.00/lb.

The operational performance is labeled as mixed: sales outpaced production with five Motheo shipments and negative TC/RCs reported, but group CuEq 35.5kt and Matsa AISC US$2.92/lb offset Motheo’s AISC US$2.18/lb.

Forecasts rise quite substantially with net debt improving to US$62m at Sep-25. Sandfire is expected to be net cash by end 2025.

This report was published on October 28, 2025.

Target price is $11.80 Current Price is $16.24 Difference: minus $4.44 (current price is over target).
If SFR meets the Jarden target it will return approximately minus 27% (excluding dividends, fees and charges – negative figures indicate an expected loss).
Current consensus price target is $14.50, suggesting downside of -10.9%(ex-dividends)
The company’s fiscal year ends in June.

Forecast for FY26:

Jarden forecasts a full year FY26 dividend of 6.23 cents and EPS of 95.27 cents.
At the last closing share price the estimated dividend yield is 0.38%.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 17.05.

How do these forecasts compare to market consensus projections?

Current consensus EPS estimate is 90.9, implying annual growth of N/A.
Current consensus DPS estimate is 21.4, implying a prospective dividend yield of 1.3%.
Current consensus EPS estimate suggests the PER is 17.9.

Forecast for FY27:

Jarden forecasts a full year FY27 dividend of 51.37 cents and EPS of 114.73 cents.
At the last closing share price the estimated dividend yield is 3.16%.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 14.16.

How do these forecasts compare to market consensus projections?

Current consensus EPS estimate is 103.6, implying annual growth of 14.0%.
Current consensus DPS estimate is 32.1, implying a prospective dividend yield of 2.0%.
Current consensus EPS estimate suggests the PER is 15.7.

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

SLX    SILEX SYSTEMS LIMITED

Uranium – Overnight Price: $10.34

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

Canaccord Genuity has Speculative Buy rating on Silex Systems. Target price $9.42.

This report was published on October 27, 2025.

Target price is $9.42 Current Price is $10.34 Difference: minus $0.92 (current price is over target).
If SLX meets the Canaccord Genuity target it will return approximately minus 9% (excluding dividends, fees and charges – negative figures indicate an expected loss).

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

TCG    TURACO GOLD LIMITED

Gold & Silver – Overnight Price: $0.47

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

Canaccord Genuity believes incumbent Alassane Ouattara’s likely fourth term win as the Ivory Coast’s president (he did win) would likely sustain economic growth, investor confidence, and policy stability, especially in infrastructure and mining.

For mining, Ouattara’s victory means continuity and stability, while a power change could bring policy uncertainty and investment delays, the broker explains.

A revised mining code expected in 2026 may raise royalties, taxes, and state interests, though existing licences could be grandfathered.

Perseus Mining and Turaco Gold are two companies with significant exposures in the country.

Speculative Buy maintained for Turaco. Target price $1.35.

This report was published on October 21, 2025.

Target price is $1.35 Current Price is $0.47 Difference: $0.88
If TCG meets the Canaccord Genuity target it will return approximately 187% (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 minus 2.00 cents.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is minus 23.50.

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 47.00.

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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