Daily Market Reports | Nov 04 2025
This story features ALKANE RESOURCES LIMITED, and other companies.
For more info SHARE ANALYSIS: ALK
The company is included in ASX300 and ALL-ORDS
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COMPANIES DISCUSSED IN THIS ISSUE
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The number next to the symbol represents the number of brokers covering it for this report -(if more than 1)
ALK ALL ASB CIP HGO LTR PNR RMS RSG SDR (2) SHA (2) SYR WGX (2) WOW WTC
ALK ALKANE RESOURCES LIMITED
Gold & Silver – Overnight Price: $1.02
Moelis rates ((ALK)) as Buy (1) –
Moelis notes Alkane Resources’ first quarterly production update following the Mandalay Resources acquisition showed slightly softer output but lower-than-expected costs across new assets.
Group production totalled 30koz gold at an average realised price of $4,896/oz and an AISC of -$2,988/oz, with results partly impacted by timing, given only 60% of Costerfield and Bjorkdal output was attributable.
Positively, operating costs at both new assets were materially below initial forecasts, suggesting potential upside to cost assumptions.
The broker also highlighted progress at Tomingley, where highway relocation works have commenced to enable open-pit development at San Antonio.
Moelis lifts its commodity price deck, resulting in a 10% increase in the target price to $1.65, with a positive view and Buy rating retained.
This report was published on October 29, 2025.
Target price is $1.65 Current Price is $1.02 Difference: $0.63
If ALK meets the Moelis target it will return approximately 62% (excluding dividends, fees and charges).
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 17.50 cents.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 5.83.
Forecast for FY27:
Moelis forecasts a full year FY27 dividend of 0.00 cents and EPS of 16.30 cents.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 6.26.
Market Sentiment: 0.8
All consensus data are updated until yesterday. FNArena’s consensus calculations require a minimum of three sources
ALL ARISTOCRAT LEISURE LIMITED
Gaming – Overnight Price: $64.07
Jarden rates ((ALL)) as Neutral (3) –
Jarden previews upcoming results for Aristocrat Leisure and Light & Wonder ((LNW)) and maintains a Buy rating on both.
The broker forecasts Aristocrat’s FY25 EPS will be broadly flat at 245c, with the FY26 estimate raised 1% to 281c and longer-term forecasts lifted 5-10% on revised currency assumptions.
The broker upgrades Aristocrat to Buy and raises its target 7% to $75.00.
The analysts prefer Light & Wonder on valuation and growth prospects.
This report was published on October 27, 2025.
Target price is $75.00 Current Price is $64.07 Difference: $10.93
If ALL meets the Jarden target it will return approximately 17% (excluding dividends, fees and charges).
Current consensus price target is $74.87, suggesting upside of 16.9%(ex-dividends)
The company’s fiscal year ends in September.
Forecast for FY25:
Jarden forecasts a full year FY25 dividend of 98.00 cents and EPS of 245.10 cents.
At the last closing share price the estimated dividend yield is 1.53%.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 26.14.How do these forecasts compare to market consensus projections?
Current consensus EPS estimate is 248.0, implying annual growth of 21.1%.
Current consensus DPS estimate is 88.1, implying a prospective dividend yield of 1.4%.
Current consensus EPS estimate suggests the PER is 25.8.
Forecast for FY26:
Jarden forecasts a full year FY26 dividend of 112.00 cents and EPS of 281.10 cents.
At the last closing share price the estimated dividend yield is 1.75%.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 22.79.How do these forecasts compare to market consensus projections?
Current consensus EPS estimate is 276.4, implying annual growth of 11.5%.
Current consensus DPS estimate is 95.2, implying a prospective dividend yield of 1.5%.
Current consensus EPS estimate suggests the PER is 23.2.
Market Sentiment: 0.9
All consensus data are updated until yesterday. FNArena’s consensus calculations require a minimum of three sources
ASB AUSTAL LIMITED
Commercial Services & Supplies – Overnight Price: $6.78
Petra Capital rates ((ASB)) as Hold (3) –
Austal’s AGM update included FY26 earnings (EBIT) guidance of $135m, a record result if achieved, notes Petra Capital, supported by a record order book and sustained US shipbuilding momentum.
The outlook reflects solid operational traction, though the analyst points out around one-fifth of the uplift stems from accounting recognition of the US Navy’s MMF3 incentive contract, amortised over nine years.
The broker explains underlying FY26 earnings guidance implies a -3% year-on-year decline. The analyst’s forecast margins are trimmed to 5.2% from 5.4%.
Petra Capital retains a Hold rating and $7.07 target.
This report was published on October 29, 2025.
Target price is $7.07 Current Price is $6.78 Difference: $0.29
If ASB meets the Petra Capital target it will return approximately 4% (excluding dividends, fees and charges).
Current consensus price target is $7.99, suggesting upside of 17.8%(ex-dividends)
The company’s fiscal year ends in June.
Forecast for FY26:
Petra Capital forecasts a full year FY26 dividend of 11.00 cents and EPS of 16.30 cents.
At the last closing share price the estimated dividend yield is 1.62%.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 41.60.How do these forecasts compare to market consensus projections?
Current consensus EPS estimate is 20.6, implying annual growth of -12.9%.
Current consensus DPS estimate is 1.3, implying a prospective dividend yield of 0.2%.
Current consensus EPS estimate suggests the PER is 32.9.
Forecast for FY27:
Petra Capital forecasts a full year FY27 dividend of 21.00 cents and EPS of 29.30 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 23.14.How do these forecasts compare to market consensus projections?
Current consensus EPS estimate is 26.3, implying annual growth of 27.7%.
Current consensus DPS estimate is 3.0, implying a prospective dividend yield of 0.4%.
Current consensus EPS estimate suggests the PER is 25.8.
Market Sentiment: 0.3
All consensus data are updated until yesterday. FNArena’s consensus calculations require a minimum of three sources
CIP CENTURIA INDUSTRIAL REIT
REITs – Overnight Price: $3.51
Moelis rates ((CIP)) as Buy (1) –
Centuria Industrial REIT’s first-quarter operating update showed leasing momentum remained strong, with 42.5ksqm of space agreed across nine transactions, or 3.3% of total NLA, achieving average spreads above 30%, Moelis highlights.
The broker points to progress on the $60m buyback, with $24.7m spent to date at an average price of $3.45, and management is exploring a second 40MW data centre development in South East Melbourne.
The recent $325m exchangeable note issuance lowered the average coupon to 3.5%, extending maturity to FY31 and management narrowed earnings per unit guidance to 18.2–18.5c.
Moelis slightly raises its estimates and its target price to $3.84 from $3.79, citing improved funding costs and guidance upgrades. Buy rating retained.
This report was published on October 30, 2025.
Target price is $3.84 Current Price is $3.51 Difference: $0.33
If CIP meets the Moelis target it will return approximately 9% (excluding dividends, fees and charges).
Current consensus price target is $3.67, suggesting upside of 4.4%(ex-dividends)
The company’s fiscal year ends in June.
Forecast for FY26:
Moelis forecasts a full year FY26 dividend of 16.60 cents and EPS of 18.40 cents.
At the last closing share price the estimated dividend yield is 4.73%.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 19.08.How do these forecasts compare to market consensus projections?
Current consensus EPS estimate is 18.2, implying annual growth of -13.2%.
Current consensus DPS estimate is 16.8, implying a prospective dividend yield of 4.8%.
Current consensus EPS estimate suggests the PER is 19.3.
Forecast for FY27:
Moelis forecasts a full year FY27 dividend of 17.40 cents and EPS of 19.60 cents.
At the last closing share price the estimated dividend yield is 4.96%.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 17.91.How do these forecasts compare to market consensus projections?
Current consensus EPS estimate is 19.5, implying annual growth of 7.1%.
Current consensus DPS estimate is 17.4, implying a prospective dividend yield of 5.0%.
Current consensus EPS estimate suggests the PER is 18.0.
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: $0.04
Moelis rates ((HGO)) as Buy (1) –
Hillgrove Resources’ September quarter was softer than expected by Moelis due to lower copper sales but showed improving operational stability, according to the broker.
The analysts explain production of 2.8kt copper and sales of 2.4kt copper at $14,447/t drove higher costs of- $6.36/lb, with lower shipment volumes weighing on cash, which fell to $6.4m.
More positively, underlying output and cost performance improved versus the June quarter, providing a firmer base for Q4, suggests the broker. The Nugent ramp-up is seen as key to stabilising production and unlocking growth.
Moelis lifts its target to 5.5c from 5.0c and maintains a Buy rating, citing strengthened balance sheet flexibility.
This report was published on October 28, 2025.
Target price is $0.06 Current Price is $0.04 Difference: $0.018
If HGO meets the Moelis target it will return approximately 49% (excluding dividends, fees and charges).
The company’s fiscal year ends in December.
Forecast for FY25:
Moelis forecasts a full year FY25 dividend of 0.00 cents and EPS of 0.40 cents.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 9.25.
Forecast for FY26:
Moelis forecasts a full year FY26 dividend of 0.00 cents and EPS of 0.70 cents.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 5.29.
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: $1.17
Jarden rates ((LTR)) as Underweight (4) –
Jarden views Liontown Resources’ September quarter as a strong operational result despite the -13% share price fall on a weak sector day.
Underground mining ramped smoothly to a 1mtpa run-rate, highlight the analysts, producing clean 1.4% lithia ore from 14 stopes, while open-pit waste removal finished, setting up higher feed grades through FY26.
Production and sales exceeded the broker’s forecasts, lifting revenue 8% above prior expectation, though realised prices lagged at US$700/t, versus Pilbara Minerals’ ((PLS)) US$841/t due to contract lags.
The broker notes operating cash flow (OCF) disappointed with a -$44m outflow, though cash rose to $420m post-equity raise.
Jarden lifts its FY26 earnings forecast, retains a 52c target and maintains an Underweight rating on valuation grounds.
This report was published on October 28, 2025.
Target price is $0.52 Current Price is $1.17 Difference: minus $0.65 (current price is over target).
If LTR meets the Jarden target it will return approximately minus 56% (excluding dividends, fees and charges – negative figures indicate an expected loss).
Current consensus price target is $0.76, suggesting downside of -35.0%(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 minus 4.10 cents.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is minus 28.54.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:
Jarden forecasts a full year FY27 dividend of 0.00 cents and EPS of minus 1.20 cents.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is minus 97.50.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 195.0.
Market Sentiment: -0.7
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: $5.05
Petra Capital rates ((PNR)) as Buy (1) –
Pantoro Gold’s 1Q operational report for the September quarter failed to meet Petra Capital’s expectations, with output of 19.6koz at -$3,139/oz versus the broker’s forecast 25.7koz at -$2,109/oz.
The analyst attributes these misses to lower grades at the Scotia and OK underground mines.
Issues at Scotia related to sequencing and development timing, explains the analyst, while a fall of ground at OK disrupted higher-grade ore access. Grades and production have since normalised, with October tracking near a 27koz run-rate, highlights Petra Capital.
FY26 guidance of 100-110koz at -$1,950-2,250/oz is maintained, supported by plant stability and 95.4% recovery, notes the analyst.
The broker trims its FY26 output estimate to 97koz and target to $6.24 from $6.46, retaining a Buy rating.
This report was published on October 29, 2025.
Target price is $6.24 Current Price is $5.05 Difference: $1.19
If PNR meets the Petra Capital target it will return approximately 24% (excluding dividends, fees and charges).
Current consensus price target is $5.59, suggesting upside of 10.7%(ex-dividends)
The company’s fiscal year ends in June.
Forecast for FY26:
Petra Capital forecasts a full year FY26 dividend of 0.00 cents and EPS of 50.60 cents.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 9.98.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 7.5.
Forecast for FY27:
Petra Capital forecasts a full year FY27 dividend of 0.00 cents and EPS of 84.10 cents.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 6.00.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 7.1.
Market Sentiment: 0.0
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: $3.28
Canaccord Genuity rates ((RMS)) as Buy (1) –
Ramelius Resources’ five-year outlook outlines a clear pathway to over 500kozpa by FY30 at costs below -$2,000/oz, observes Canaccord Genuity.
Underpinned by the Never Never, Mt Magnet-Dalgaranga, and Rebecca-Roe projects, the plan is fully funded from cash and free cashflow, offering about $100m in capex savings and $175m in operational synergies, highlight the analysts.
Management will upgrade the Mt Magnet capacity to 5mtpa from 2mtpa by FY28, targeting an initial run-rate of 4.3mtpa
from FY28-35.
The updated Rebecca-Roe definitive feasibility study (DFS) adds 130-140kozpa from FY30, notes the broker, lifting group production above 500kozpa.
Canaccord maintains a Buy rating and raises its target to $5.80 from $5.25.
This report was published on October 29, 2025.
Target price is $5.80 Current Price is $3.28 Difference: $2.52
If RMS meets the Canaccord Genuity target it will return approximately 77% (excluding dividends, fees and charges).
Current consensus price target is $4.30, suggesting upside of 31.0%(ex-dividends)
The company’s fiscal year ends in June.
Forecast for FY26:
Canaccord Genuity forecasts a full year FY26 dividend of 1.00 cents and EPS of 17.00 cents.
At the last closing share price the estimated dividend yield is 0.30%.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 19.29.How do these forecasts compare to market consensus projections?
Current consensus EPS estimate is 21.8, implying annual growth of -47.0%.
Current consensus DPS estimate is 4.8, implying a prospective dividend yield of 1.5%.
Current consensus EPS estimate suggests the PER is 15.0.
Forecast for FY27:
Canaccord Genuity forecasts a full year FY27 dividend of 6.00 cents and EPS of 24.00 cents.
At the last closing share price the estimated dividend yield is 1.83%.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 13.67.How do these forecasts compare to market consensus projections?
Current consensus EPS estimate is 26.0, implying annual growth of 19.3%.
Current consensus DPS estimate is 4.9, implying a prospective dividend yield of 1.5%.
Current consensus EPS estimate suggests the PER is 12.6.
Market Sentiment: 1.0
All consensus data are updated until yesterday. FNArena’s consensus calculations require a minimum of three sources
RSG RESOLUTE MINING LIMITED
Gold & Silver – Overnight Price: $0.93
Canaccord Genuity rates ((RSG)) as Buy (1) –
Resolute Mining’s September quarter was broadly in line with Canaccord Genuity’s forecast on production but missed on costs.
Output of 59.8koz met the broker’s expectations, but costs (AISC) of -US$2,205/oz exceeded the broker’s forecasts due to higher sustaining capex at Syama and increased royalties.
Sales of 63koz beat the analysts’ estimates, while closing cash and bullion of US$168m fell short after larger-than-anticipated value added tax (VAT) payments.
Full-year guidance was trimmed to 275-285koz at cost -US$1,750-1,850/oz on lower Syama output. The broker expects Syama Sulphide Circuit Project (SSCP) commissioning in January 2026 and sees upside from Mako and Doropo expansion.
Canaccord maintains a Buy rating but cuts its target to $2.00 from $2.30.
This report was published on October 28, 2025.
Target price is $2.00 Current Price is $0.93 Difference: $1.075
If RSG meets the Canaccord Genuity target it will return approximately 116% (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 15.57 cents.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 5.94.
Forecast for FY26:
Canaccord Genuity forecasts a full year FY26 dividend of 0.00 cents and EPS of 26.46 cents.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 3.50.
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
SDR SITEMINDER LIMITED
Travel, Leisure & Tourism – Overnight Price: $7.19
Canaccord Genuity rates ((SDR)) as Hold (3) –
SiteMinder’s 1Q annual recurring revenue (ARR) growth of 27% year-on-year was consistent with the prior quarter and supported by solid property additions and improving sales productivity, explains Canaccord Genuity.
Transactional growth remains led by Demand Plus, observes the broker, while Smart Distribution continues to drive most of the early momentum from the Smart Products suite.
Guidance was reiterated for strong organic revenue and ARR growth, with improving earnings, free cash flow, and Rule of 40 metrics, highlights the broker.
Canaccord retains a Hold rating and $7.00 target.
This report was published on October 29, 2025.
Target price is $7.00 Current Price is $7.19 Difference: minus $0.19 (current price is over target).
If SDR meets the Canaccord Genuity target it will return approximately minus 3% (excluding dividends, fees and charges – negative figures indicate an expected loss).
Current consensus price target is $8.17, suggesting upside of 13.6%(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 0.10 cents.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 7190.00.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.
Forecast for FY27:
Canaccord Genuity forecasts a full year FY27 dividend of 0.00 cents and EPS of 8.60 cents.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 83.60.How do these forecasts compare to market consensus projections?
Current consensus EPS estimate is 6.2, 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 116.0.
Market Sentiment: 0.9
All consensus data are updated until yesterday. FNArena’s consensus calculations require a minimum of three sources
Moelis rates ((SDR)) as Buy (1) –
SiteMinder outlined at its 2025 AGM its ongoing transformation since IPO, underpinned by product innovation and improved financial performance, Moelis comments.
Annualised Recurring Revenue growth is tracking in line with FY25’s rate of 27.2%, with management re-iterating expectations to accelerate revenue growth towards 30%.
The broker observes the launch of Dynamic Revenue Plus is central to SiteMinder’s Smart Platform strategy, with higher long-term penetration assumptions now factored into forecasts.
The analyst lifts its valuation based on an increased uptake of Dynamic Revenue Plus, though FY26 earnings are slightly reduced due to higher customer acquisition costs.
Buy rating retained, target price raised to $8.88 from $8.67.
This report was published on October 29, 2025.
Target price is $8.88 Current Price is $7.19 Difference: $1.69
If SDR meets the Moelis target it will return approximately 24% (excluding dividends, fees and charges).
Current consensus price target is $8.17, suggesting upside of 13.6%(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 0.90 cents.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 798.89.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.
Forecast for FY27:
Moelis forecasts a full year FY27 dividend of 0.00 cents and EPS of 10.00 cents.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 71.90.How do these forecasts compare to market consensus projections?
Current consensus EPS estimate is 6.2, 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 116.0.
Market Sentiment: 0.9
All consensus data are updated until yesterday. FNArena’s consensus calculations require a minimum of three sources
SHA SHAPE AUSTRALIA CORPORATION LIMITED
Industrial Sector Contractors & Engineers – Overnight Price: $5.96
Moelis rates ((SHA)) as Buy (1) –
Moelis notes Shape Australia’s 1Q26 trading update and AGM commentary reflected strong operational momentum, with project wins of $336m, up 40% on the previous corresponding period, lifting the backlog to $577m, up 17% quarter-on-quarter.
The pipeline expanded to $4.2bn, supported by a rebound in Victoria and continued growth in modular construction, where revenue doubled to $14.5m.
Management highlighted reduced commercial office exposure to under 40% of the backlog and a solid cash position of $128m with no financial debt.
Moelis upgrades its FY26-28 EPS forecasts by between 12.5% and 14.7% on improved revenue visibility and higher-margin mix benefits.
Target price lifts to $6 from $5.13 previously.
This report was published on October 29, 2025.
Target price is $6.00 Current Price is $5.96 Difference: $0.04
If SHA meets the Moelis target it will return approximately 1% (excluding dividends, fees and charges).
The company’s fiscal year ends in June.
Forecast for FY26:
Moelis forecasts a full year FY26 dividend of 27.70 cents and EPS of 31.10 cents.
At the last closing share price the estimated dividend yield is 4.65%.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 19.16.
Forecast for FY27:
Moelis forecasts a full year FY27 dividend of 28.90 cents and EPS of 33.20 cents.
At the last closing share price the estimated dividend yield is 4.85%.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 17.95.
Market Sentiment: 1.0
All consensus data are updated until yesterday. FNArena’s consensus calculations require a minimum of three sources
Petra Capital rates ((SHA)) as Upgrade to Buy from Hold (1) –
Petra Capital raises its target for Shape Australia by 55.8% to $6.70 and upgrades to Buy from Hold following an AGM trading update.
The broker highlights a stronger-than-expected pipeline, orderbook, and project win trajectory, prompting material earnings and valuation upgrades.
The update implies to the analyst annual revenue of about $1.1bn, well ahead of prior assumptions, with margin volatility expected as modular and major fit-out contracts roll off before new projects commence in 2H26.
Petra Capital’s confidence in the Victorian pipeline has also improved following a major $70m consultancy refit win and larger tenders underway.
This report was published on October 29, 2025.
Target price is $6.70 Current Price is $5.96 Difference: $0.74
If SHA meets the Petra Capital target it will return approximately 12% (excluding dividends, fees and charges).
The company’s fiscal year ends in June.
Forecast for FY26:
Petra Capital forecasts a full year FY26 dividend of 27.30 cents and EPS of 30.30 cents.
At the last closing share price the estimated dividend yield is 4.58%.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 19.67.
Forecast for FY27:
Petra Capital forecasts a full year FY27 dividend of 33.20 cents and EPS of 36.80 cents.
At the last closing share price the estimated dividend yield is 5.57%.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 16.20.
Market Sentiment: 1.0
All consensus data are updated until yesterday. FNArena’s consensus calculations require a minimum of three sources
SYR SYRAH RESOURCES LIMITED
New Battery Elements – Overnight Price: $0.33
Jarden rates ((SYR)) as Overweight (2) –
Jarden highlights a strong restart of the Balama operations in Mozambique by Syrah Resources, producing 25.7kt and selling 23.9kt graphite in the September quarter. Operating cash outflows declined to -US$3.3m from -US$20.2m in the June quarter.
Throughput exceeded the analysts’ forecast, though recoveries slipped to 68% due to oxidised feed. Unit costs improved to -US$585/t, with campaign-style operations expected until 2027.
Jarden views Balama as a world-class, low-cost, long-life resource and notes growing US policy support for ex-China graphite supply.
The Vidalia Active Anode Material facility, located in Vidalia, Louisiana, is considered strategically critical, benefiting from US tariffs on Chinese material.
The broker maintains an Overweight rating and 34c target price.
This report was published on October 28, 2025.
Target price is $0.34 Current Price is $0.33 Difference: $0.01
If SYR meets the Jarden target it will return approximately 3% (excluding dividends, fees and charges).
Current consensus price target is $0.50, suggesting upside of 51.5%(ex-dividends)
The company’s fiscal year ends in December.
Forecast for FY25:
Jarden forecasts a full year FY25 dividend of 0.00 cents and EPS of minus 15.26 cents.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is minus 2.16.How do these forecasts compare to market consensus projections?
Current consensus EPS estimate is -9.7, 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:
Jarden forecasts a full year FY26 dividend of 0.00 cents and EPS of minus 5.76 cents.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is minus 5.73.How do these forecasts compare to market consensus projections?
Current consensus EPS estimate is -0.3, 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.
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
WGX WESTGOLD RESOURCES LIMITED
Gold & Silver – Overnight Price: $5.31
Canaccord Genuity rates ((WGX)) as Buy (1) –
Broadly in line with Canaccord Genuity’s estimates, Westgold Resources’ September quarter revealed production of 84koz at all-in sustaining costs (AISC) of -$2,861/oz.
Lower output from Murchison and Southern Goldfields reflected development constraints at Bluebird-South Junction and timing effects at Lakewood, explains the broker. An offset was provided by early ore purchases and stable Beta Hunt mining rates.
Cash and bullion rose $82m to $418m, with total liquidity of $522m.
FY26 guidance was reaffirmed at 345-385koz at cost -$2,600-2,900/oz.
Highlighting a strong free cash flow (FCF) outlook and improving mine flexibility, Canaccord maintains a Buy rating and lifts its target to $7.80 from $7.75.
This report was published on October 28, 2025.
Target price is $7.80 Current Price is $5.31 Difference: $2.49
If WGX meets the Canaccord Genuity target it will return approximately 47% (excluding dividends, fees and charges).
The company’s fiscal year ends in June.
Forecast for FY26:
Canaccord Genuity forecasts a full year FY26 dividend of 9.00 cents and EPS of 71.00 cents.
At the last closing share price the estimated dividend yield is 1.69%.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 7.48.
Forecast for FY27:
Canaccord Genuity forecasts a full year FY27 dividend of 12.00 cents and EPS of 93.00 cents.
At the last closing share price the estimated dividend yield is 2.26%.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 5.71.
Market Sentiment: 1.0
All consensus data are updated until yesterday. FNArena’s consensus calculations require a minimum of three sources
Petra Capital rates ((WGX)) as Buy (1) –
Petra Capital assesses Westgold Resources’ September quarter was solid with production of 84koz at -$2,861/oz. Production fell -5% quarter-on-quarter due to milling timing at Lakewood and planned maintenance across Murchison plants, explains the analyst.
The broker explains the positive performance was supported by first ore sales from Crown Prince and steady operations at Bluebird-South Junction and Great Fingall, where Barminco has begun underground mining.
Cash rose $108m to $472m.
Petra Capital maintains a Buy rating, trimming its target slightly to $5.92 from $5.98.
This report was published on October 29, 2025.
Target price is $5.92 Current Price is $5.31 Difference: $0.61
If WGX meets the Petra Capital target it will return approximately 11% (excluding dividends, fees and charges).
The company’s fiscal year ends in June.
Forecast for FY26:
Petra Capital forecasts a full year FY26 dividend of 10.00 cents and EPS of 68.90 cents.
At the last closing share price the estimated dividend yield is 1.88%.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 7.71.
Forecast for FY27:
Petra Capital forecasts a full year FY27 dividend of 12.00 cents and EPS of 81.70 cents.
At the last closing share price the estimated dividend yield is 2.26%.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 6.50.
Market Sentiment: 1.0
All consensus data are updated until yesterday. FNArena’s consensus calculations require a minimum of three sources
WOW WOOLWORTHS GROUP LIMITED
Food, Beverages & Tobacco – Overnight Price: $28.22
Jarden rates ((WOW)) as Overweight (2) –
Woolworths Group’s September quarter was softer than expected by Jarden, with underlying sales -0.4% below the broker’s forecast, though early Q2 trends show some recovery.
Australian Food sales rose 2.1% to $13.9bn, about -1% below consensus, observes the broker, with transaction and basket growth modest and continued weakness in pet and baby products.
New Zealand Food gained 2.5%, also below Jarden’s expectation, while Woolworths Living grew 3.3%, aided by Petstock.
Early Q2 trading shows food sales up 3.2% (5% ex-tobacco), hinting at likely momentum into Christmas, suggests the broker.
Overweight rating. Target $30.10. Jarden sees significant valuation upside if Q1 proves to be the nadir and growth accelerates.
This report was published on October 29, 2025.
Target price is $30.10 Current Price is $28.22 Difference: $1.88
If WOW meets the Jarden target it will return approximately 7% (excluding dividends, fees and charges).
Current consensus price target is $30.12, suggesting upside of 6.7%(ex-dividends)
The company’s fiscal year ends in June.
Forecast for FY26:
Jarden forecasts a full year FY26 dividend of 95.00 cents and EPS of 128.00 cents.
At the last closing share price the estimated dividend yield is 3.37%.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 22.05.How do these forecasts compare to market consensus projections?
Current consensus EPS estimate is 124.6, implying annual growth of 58.0%.
Current consensus DPS estimate is 93.2, implying a prospective dividend yield of 3.3%.
Current consensus EPS estimate suggests the PER is 22.6.
Forecast for FY27:
Jarden forecasts a full year FY27 dividend of 105.00 cents and EPS of 141.20 cents.
At the last closing share price the estimated dividend yield is 3.72%.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 19.99.How do these forecasts compare to market consensus projections?
Current consensus EPS estimate is 138.5, implying annual growth of 11.2%.
Current consensus DPS estimate is 103.7, implying a prospective dividend yield of 3.7%.
Current consensus EPS estimate suggests the PER is 20.4.
Market Sentiment: 0.3
All consensus data are updated until yesterday. FNArena’s consensus calculations require a minimum of three sources
WTC WISETECH GLOBAL LIMITED
Cloud services – Overnight Price: $69.55
Jarden rates ((WTC)) as Upgrade to Neutral from Underweight (3) –
Jarden lowers its target for WiseTech Global to $73 from $82 and upgrades to Neutral from Underweight noting the stock price now better reflects balanced upside and downside risks.
The analysts still regard WiseTech as a high-quality, high-return on invested capital (ROIC) growth business but caution the ongoing ASIC and AFP investigations could distract management and pressure FY26 guidance.
Conversely, consensus FY26 revenue expectations appear conservative in the analysts’ view, leaving scope for upgrades if WiseTech delivers near the top of its 14-21% CargoWise growth range or improves operating leverage.
Jarden trims its FY26 EPS forecast by -3.2% after lowering forecast CargoWise growth to 16%, highlighting longer-term consensus assumptions as overly bullish.
The broker argues WiseTech must rebuild investor confidence through clearer operational targets, transparent KPIs, improved communication, and a defined succession plan for founder Richard White.
This report was published on October 28, 2025.
Target price is $73.00 Current Price is $69.55 Difference: $3.45
If WTC meets the Jarden target it will return approximately 5% (excluding dividends, fees and charges).
Current consensus price target is $123.99, suggesting upside of 78.3%(ex-dividends)
The company’s fiscal year ends in June.
Forecast for FY26:
Jarden forecasts a full year FY26 dividend of 13.30 cents and EPS of 103.05 cents.
At the last closing share price the estimated dividend yield is 0.19%.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 67.49.How do these forecasts compare to market consensus projections?
Current consensus EPS estimate is 121.8, implying annual growth of N/A.
Current consensus DPS estimate is 22.9, implying a prospective dividend yield of 0.3%.
Current consensus EPS estimate suggests the PER is 57.1.
Forecast for FY27:
Jarden forecasts a full year FY27 dividend of 19.80 cents and EPS of 98.10 cents.
At the last closing share price the estimated dividend yield is 0.28%.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 70.90.How do these forecasts compare to market consensus projections?
Current consensus EPS estimate is 172.5, implying annual growth of 41.6%.
Current consensus DPS estimate is 34.0, implying a prospective dividend yield of 0.5%.
Current consensus EPS estimate suggests the PER is 40.3.
This company reports in USD. All estimates have been converted into AUD by FNArena at present FX values.
Market Sentiment: 0.9
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.
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