Australian Broker Call *Extra* Edition – Jun 21, 2023

This story features ALCIDION GROUP LIMITED, and other companies. For more info SHARE ANALYSIS: ALC

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)

AKE   ALC   AWC   BHP   BRG   BSL   CIA   CMM   CRN   CXO   DGL   DRR   FMG   IGO   ILU   LEL   LYC   MIN (2)   NHC   PAN   PLS   REG   RIO   S32   SFR (2)   SGM   WHC  

AKE    ALLKEM LIMITED

New Battery Elements – Overnight Price: $16.11

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

Goldman Sachs reviews its lithium coverage, raising the target for Allkem to $17.20 from $12.90 and maintaining a Buy rating.

This report was published on June 16, 2023.

Target price is $17.20 Current Price is $16.11 Difference: $1.09
If AKE meets the Goldman Sachs target it will return approximately 7% (excluding dividends, fees and charges).
Current consensus price target is $17.13, suggesting upside of 6.3%(ex-dividends)
The company's fiscal year ends in June.

Forecast for FY23:

Goldman Sachs forecasts a full year FY23 dividend of 0.00 cents and EPS of 74.80 cents.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 21.54.

How do these forecasts compare to market consensus projections?

Current consensus EPS estimate is 81.3, implying annual growth of 14.3%.
Current consensus DPS estimate is N/A, implying a prospective dividend yield of N/A.
Current consensus EPS estimate suggests the PER is 19.8.

Forecast for FY24:

Goldman Sachs forecasts a full year FY24 dividend of 0.00 cents and EPS of 25.40 cents.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 63.43.

How do these forecasts compare to market consensus projections?

Current consensus EPS estimate is 112.9, implying annual growth of 38.9%.
Current consensus DPS estimate is 6.7, implying a prospective dividend yield of 0.4%.
Current consensus EPS estimate suggests the PER is 14.3.

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

ALC    ALCIDION GROUP LIMITED

Healthcare services – Overnight Price: $0.10

Petra Capital rates ((ALC)) as Initiation of coverage with Buy (1) –

Petra Capital initiates coverage on Alcidion Group with a Buy rating and $0.15 target. The company provides technology that improves the efficiency and quality of patient care in health organisations worldwide.

Since listing, the business as expanded from its core Miya platform through acquisitions such as Extramed and Silverlink patient administration system. Petra Capital now assesses the business is starting to get scale and become profitable.

This report was published on June 19, 2023.

Target price is $0.15 Current Price is $0.10 Difference: $0.053
If ALC meets the Petra Capital target it will return approximately 55% (excluding dividends, fees and charges).
The company's fiscal year ends in June.

Forecast for FY23:

Petra Capital forecasts a full year FY23 EPS of minus 0.40 cents.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is minus 24.25.

Forecast for FY24:

Petra Capital forecasts a full year FY24 EPS of minus 0.20 cents.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is minus 48.50.

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

AWC    ALUMINA LIMITED

Aluminium, Bauxite & Alumina – Overnight Price: $1.40

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

Goldman Sachs reviews its miners coverage, retaining Sell rating and $1.25 target for Alumina Ltd.

This report was published on June 16, 2023.

Target price is $1.25 Current Price is $1.40 Difference: minus $0.15 (current price is over target).
If AWC meets the Goldman Sachs target it will return approximately minus 11% (excluding dividends, fees and charges – negative figures indicate an expected loss).
Current consensus price target is $1.40, suggesting upside of 0.0%(ex-dividends)
The company's fiscal year ends in December.

Forecast for FY23:

Goldman Sachs forecasts a full year FY23 dividend of 0.00 cents and EPS of minus 1.49 cents.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is minus 94.28.

How do these forecasts compare to market consensus projections?

Current consensus EPS estimate is 2.0, implying annual growth of N/A.
Current consensus DPS estimate is 1.2, implying a prospective dividend yield of 0.9%.
Current consensus EPS estimate suggests the PER is 70.0.

Forecast for FY24:

Goldman Sachs forecasts a full year FY24 dividend of 7.42 cents and EPS of 10.39 cents.
At the last closing share price the estimated dividend yield is 5.30%.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 13.47.

How do these forecasts compare to market consensus projections?

Current consensus EPS estimate is 9.3, implying annual growth of 365.0%.
Current consensus DPS estimate is 4.3, implying a prospective dividend yield of 3.1%.
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: -0.5
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources

BHP    BHP GROUP LIMITED

Bulks – Overnight Price: $46.72

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

Goldman Sachs reviews its bulk miners coverage, retaining a Buy rating and $46.90 target for BHP Group.

This report was published on June 16, 2023.

Target price is $46.90 Current Price is $46.72 Difference: $0.18
If BHP meets the Goldman Sachs target it will return approximately 0% (excluding dividends, fees and charges).
Current consensus price target is $44.28, suggesting downside of -5.2%(ex-dividends)
The company's fiscal year ends in June.

Forecast for FY23:

Goldman Sachs forecasts a full year FY23 dividend of 282.07 cents and EPS of 421.62 cents.
At the last closing share price the estimated dividend yield is 6.04%.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 11.08.

How do these forecasts compare to market consensus projections?

Current consensus EPS estimate is 451.0, implying annual growth of N/A.
Current consensus DPS estimate is 297.9, implying a prospective dividend yield of 6.4%.
Current consensus EPS estimate suggests the PER is 10.4.

Forecast for FY24:

Goldman Sachs forecasts a full year FY24 dividend of 195.96 cents and EPS of 359.26 cents.
At the last closing share price the estimated dividend yield is 4.19%.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 13.00.

How do these forecasts compare to market consensus projections?

Current consensus EPS estimate is 437.0, implying annual growth of -3.1%.
Current consensus DPS estimate is 278.8, implying a prospective dividend yield of 6.0%.
Current consensus EPS estimate suggests the PER is 10.7.

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

BRG    BREVILLE GROUP LIMITED

Household & Personal Products – Overnight Price: $19.79

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

Goldman Sachs reduces FY23-25 sales estimates for Breville Group by up to -3% because of generally softer trends across key peers. A Buy rating is reiterated given the structural growth of premium espresso coffee and the still early penetration of premium coffee machines.

Strong new product development should support growth that is above the industry even given a more modest consumer environment. Target is $22.50.

This report was published on June 16, 2023.

Target price is $22.50 Current Price is $19.79 Difference: $2.71
If BRG meets the Goldman Sachs target it will return approximately 14% (excluding dividends, fees and charges).
Current consensus price target is $23.34, suggesting upside of 17.9%(ex-dividends)
The company's fiscal year ends in June.

Forecast for FY23:

Goldman Sachs forecasts a full year FY23 dividend of 30.00 cents and EPS of 76.00 cents.
At the last closing share price the estimated dividend yield is 1.52%.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 26.04.

How do these forecasts compare to market consensus projections?

Current consensus EPS estimate is 76.1, implying annual growth of 0.3%.
Current consensus DPS estimate is 29.4, implying a prospective dividend yield of 1.5%.
Current consensus EPS estimate suggests the PER is 26.0.

Forecast for FY24:

Goldman Sachs forecasts a full year FY24 dividend of 36.00 cents and EPS of 89.00 cents.
At the last closing share price the estimated dividend yield is 1.82%.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 22.24.

How do these forecasts compare to market consensus projections?

Current consensus EPS estimate is 86.3, implying annual growth of 13.4%.
Current consensus DPS estimate is 33.4, implying a prospective dividend yield of 1.7%.
Current consensus EPS estimate suggests the PER is 22.9.

Market Sentiment: 0.7
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: $21.09

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

Goldman Sachs reviews its steel coverage, retaining a Buy rating and $23.80 target for BlueScope Steel.

This report was published on June 16, 2023.

Target price is $23.80 Current Price is $21.09 Difference: $2.71
If BSL meets the Goldman Sachs target it will return approximately 13% (excluding dividends, fees and charges).
Current consensus price target is $21.62, suggesting upside of 2.5%(ex-dividends)
The company's fiscal year ends in June.

Forecast for FY23:

Goldman Sachs forecasts a full year FY23 dividend of 50.00 cents and EPS of 249.00 cents.
At the last closing share price the estimated dividend yield is 2.37%.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 8.47.

How do these forecasts compare to market consensus projections?

Current consensus EPS estimate is 248.3, implying annual growth of -56.6%.
Current consensus DPS estimate is 50.0, implying a prospective dividend yield of 2.4%.
Current consensus EPS estimate suggests the PER is 8.5.

Forecast for FY24:

Goldman Sachs forecasts a full year FY24 dividend of 50.00 cents and EPS of 279.00 cents.
At the last closing share price the estimated dividend yield is 2.37%.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 7.56.

How do these forecasts compare to market consensus projections?

Current consensus EPS estimate is 194.9, implying annual growth of -21.5%.
Current consensus DPS estimate is 50.0, implying a prospective dividend yield of 2.4%.
Current consensus EPS estimate suggests the PER is 10.8.

Market Sentiment: 0.4
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: $6.36

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

Goldman Sachs reviews its bulk miners coverage, retaining a Buy rating and $7.10 target for Champion Iron.

This report was published on June 16, 2023.

Target price is $7.10 Current Price is $6.36 Difference: $0.74
If CIA meets the Goldman Sachs target it will return approximately 12% (excluding dividends, fees and charges).
The company's fiscal year ends in March.

Forecast for FY24:

Goldman Sachs forecasts a full year FY24 dividend of 13.31 cents and EPS of 58.79 cents.
At the last closing share price the estimated dividend yield is 2.09%.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 10.82.

Forecast for FY25:

Goldman Sachs forecasts a full year FY25 dividend of 15.53 cents and EPS of 58.79 cents.
At the last closing share price the estimated dividend yield is 2.44%.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 10.82.

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: $4.33

Jarden rates ((CMM)) as Initiation of coverage with Overweight (2) –

Jarden initiates coverage of Capricorn Metals with an Overweight rating and $4.80 target. The broker lauds the management team which has been together for 20 years building conservative gold mining companies that are consistently profitable.

In the broker's view, ongoing government measures to counteract inflation will likely attract safe haven investment in the US dollar, capping significant gold price upside.

Therefore, it could be a matter of which of the gold producers can capture margins through cost control and Capricorn Metals has a good record in this regard.

This report was published on June 16, 2023.

Target price is $4.80 Current Price is $4.33 Difference: $0.47
If CMM meets the Jarden target it will return approximately 11% (excluding dividends, fees and charges).
The company's fiscal year ends in June.

Forecast for FY23:

Jarden forecasts a full year FY23 EPS of 21.90 cents.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 19.77.

Forecast for FY24:

Jarden forecasts a full year FY24 EPS of 19.50 cents.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 22.21.

Market Sentiment: 0.5
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: $1.54

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

Goldman Sachs reviews its bulk miners coverage, retaining a Buy rating and $2.05 target for Coronado Global Resources.

This report was published on June 16, 2023.

Target price is $2.05 Current Price is $1.54 Difference: $0.505
If CRN meets the Goldman Sachs target it will return approximately 33% (excluding dividends, fees and charges).
Current consensus price target is $2.11, suggesting upside of 36.6%(ex-dividends)
The company's fiscal year ends in December.

Forecast for FY23:

Goldman Sachs forecasts a full year FY23 dividend of 17.82 cents and EPS of 37.11 cents.
At the last closing share price the estimated dividend yield is 11.53%.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 4.16.

How do these forecasts compare to market consensus projections?

Current consensus EPS estimate is 50.2, implying annual growth of N/A.
Current consensus DPS estimate is 17.3, implying a prospective dividend yield of 11.2%.
Current consensus EPS estimate suggests the PER is 3.1.

Forecast for FY24:

Goldman Sachs forecasts a full year FY24 dividend of 20.78 cents and EPS of 22.27 cents.
At the last closing share price the estimated dividend yield is 13.45%.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 6.94.

How do these forecasts compare to market consensus projections?

Current consensus EPS estimate is 44.7, implying annual growth of -11.0%.
Current consensus DPS estimate is 25.4, implying a prospective dividend yield of 16.4%.
Current consensus EPS estimate suggests the PER is 3.5.

This company reports in USD. All estimates have been converted into AUD by FNArena at present FX values.
Market Sentiment: 0.8
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources

CXO    CORE LITHIUM LIMITED

New Battery Elements – Overnight Price: $0.99

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

Goldman Sachs reviews its lithium coverage, raising the target for Core Lithium to $0.95 and maintaining a Sell rating.

This report was published on June 16, 2023.

Target price is $0.95 Current Price is $0.99 Difference: minus $0.04 (current price is over target).
If CXO meets the Goldman Sachs target it will return approximately minus 4% (excluding dividends, fees and charges – negative figures indicate an expected loss).
Current consensus price target is $1.03, suggesting upside of 4.4%(ex-dividends)
The company's fiscal year ends in June.

Forecast for FY23:

Goldman Sachs forecasts a full year FY23 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 33.00.

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 165.0.

Forecast for FY24:

Goldman Sachs forecasts a full year FY24 dividend of 0.00 cents and EPS of 7.60 cents.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 13.03.

How do these forecasts compare to market consensus projections?

Current consensus EPS estimate is 12.5, implying annual growth of 1983.3%.
Current consensus DPS estimate is 1.5, implying a prospective dividend yield of 1.5%.
Current consensus EPS estimate suggests the PER is 7.9.

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

DGL    DGL GROUP LIMITED

Commercial Services & Supplies – Overnight Price: $0.81

Canaccord Genuity rates ((DGL)) as Downgrade to Speculative Buy from Buy (1) –

Canaccord Genuity was disappointed with the update from DGL Group as it pointed to materially lower EBITDA guidance, stemming from higher costs across the business. Still, on the positive side, strong demand continues for services and there is robust cash conversion.

FY23 EBITDA guidance was revised down -10% which implies broadly flat earnings year-on-year. The broker turns its attention to FY24 with a number of influences on its modelling, including the impact of the higher costs in the second half and the incremental contribution from FY23 acquisitions.

While investors may prefer to wait for a more detailed outlook at the August results Canaccord Genuity believes the shares offer value at the current rating, which is downgraded to Speculative Buy from Buy. Target is reduced to $1.55 from $2.85.

This report was published on June 16, 2023.

Target price is $1.55 Current Price is $0.81 Difference: $0.74
If DGL meets the Canaccord Genuity target it will return approximately 91% (excluding dividends, fees and charges).
Current consensus price target is $1.13, suggesting upside of 39.9%(ex-dividends)
The company's fiscal year ends in June.

Forecast for FY23:

Canaccord Genuity forecasts a full year FY23 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 8.10.

How do these forecasts compare to market consensus projections?

Current consensus EPS estimate is 8.9, implying annual growth of -13.7%.
Current consensus DPS estimate is N/A, implying a prospective dividend yield of N/A.
Current consensus EPS estimate suggests the PER is 9.1.

Forecast for FY24:

Canaccord Genuity forecasts a full year FY24 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 10.13.

How do these forecasts compare to market consensus projections?

Current consensus EPS estimate is 8.2, 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 9.9.

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

DRR    DETERRA ROYALTIES LIMITED

Iron Ore – Overnight Price: $4.67

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

Goldman Sachs reviews its bulk miners coverage, retaining a Neutral rating and $4.60 target for Deterra Royalties.

This report was published on June 16, 2023.

Target price is $4.60 Current Price is $4.67 Difference: minus $0.07 (current price is over target).
If DRR meets the Goldman Sachs target it will return approximately minus 1% (excluding dividends, fees and charges – negative figures indicate an expected loss).
Current consensus price target is $4.61, suggesting downside of -1.3%(ex-dividends)
The company's fiscal year ends in June.

Forecast for FY23:

Goldman Sachs forecasts a full year FY23 dividend of 30.00 cents and EPS of 30.00 cents.
At the last closing share price the estimated dividend yield is 6.42%.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 15.57.

How do these forecasts compare to market consensus projections?

Current consensus EPS estimate is 31.6, implying annual growth of -6.4%.
Current consensus DPS estimate is 31.4, implying a prospective dividend yield of 6.7%.
Current consensus EPS estimate suggests the PER is 14.8.

Forecast for FY24:

Goldman Sachs forecasts a full year FY24 dividend of 28.00 cents and EPS of 28.00 cents.
At the last closing share price the estimated dividend yield is 6.00%.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 16.68.

How do these forecasts compare to market consensus projections?

Current consensus EPS estimate is 32.6, implying annual growth of 3.2%.
Current consensus DPS estimate is 32.8, implying a prospective dividend yield of 7.0%.
Current consensus EPS estimate suggests the PER is 14.3.

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

FMG    FORTESCUE METALS GROUP LIMITED

Iron Ore – Overnight Price: $22.40

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

Goldman Sachs reviews its bulk miners coverage, retaining a Sell rating and $14.90 target for Fortescue Metals.

This report was published on June 16, 2023.

Target price is $14.90 Current Price is $22.40 Difference: minus $7.5 (current price is over target).
If FMG meets the Goldman Sachs target it will return approximately minus 33% (excluding dividends, fees and charges – negative figures indicate an expected loss).
Current consensus price target is $16.34, suggesting downside of -27.1%(ex-dividends)
The company's fiscal year ends in June.

Forecast for FY23:

Goldman Sachs forecasts a full year FY23 dividend of 181.12 cents and EPS of 267.22 cents.
At the last closing share price the estimated dividend yield is 8.09%.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 8.38.

How do these forecasts compare to market consensus projections?

Current consensus EPS estimate is 265.7, implying annual growth of N/A.
Current consensus DPS estimate is 184.9, implying a prospective dividend yield of 8.3%.
Current consensus EPS estimate suggests the PER is 8.4.

Forecast for FY24:

Goldman Sachs forecasts a full year FY24 dividend of 97.98 cents and EPS of 178.15 cents.
At the last closing share price the estimated dividend yield is 4.37%.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 12.57.

How do these forecasts compare to market consensus projections?

Current consensus EPS estimate is 217.3, implying annual growth of -18.2%.
Current consensus DPS estimate is 144.9, implying a prospective dividend yield of 6.5%.
Current consensus EPS estimate suggests the PER is 10.3.

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

IGO    IGO LIMITED

Nickel – Overnight Price: $15.23

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

Goldman Sachs reviews its lithium coverage, raising the target for IGO to $16.10 and maintaining a Buy rating.

This report was published on June 16, 2023.

Target price is $16.10 Current Price is $15.23 Difference: $0.87
If IGO meets the Goldman Sachs target it will return approximately 6% (excluding dividends, fees and charges).
Current consensus price target is $16.01, suggesting upside of 5.1%(ex-dividends)
The company's fiscal year ends in June.

Forecast for FY23:

Goldman Sachs forecasts a full year FY23 dividend of 34.00 cents and EPS of 202.00 cents.
At the last closing share price the estimated dividend yield is 2.23%.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 7.54.

How do these forecasts compare to market consensus projections?

Current consensus EPS estimate is 150.3, implying annual growth of 243.9%.
Current consensus DPS estimate is 34.0, implying a prospective dividend yield of 2.2%.
Current consensus EPS estimate suggests the PER is 10.1.

Forecast for FY24:

Goldman Sachs forecasts a full year FY24 dividend of 94.00 cents and EPS of 101.00 cents.
At the last closing share price the estimated dividend yield is 6.17%.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 15.08.

How do these forecasts compare to market consensus projections?

Current consensus EPS estimate is 147.9, implying annual growth of -1.6%.
Current consensus DPS estimate is 46.1, implying a prospective dividend yield of 3.0%.
Current consensus EPS estimate suggests the PER is 10.3.

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

ILU    ILUKA RESOURCES LIMITED

Mineral Sands – Overnight Price: $11.68

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

Goldman Sachs reviews its miners coverage, retaining a Buy rating and $12.90 target for Iluka Resources.

This report was published on June 16, 2023.

Target price is $12.90 Current Price is $11.68 Difference: $1.22
If ILU meets the Goldman Sachs target it will return approximately 10% (excluding dividends, fees and charges).
Current consensus price target is $11.08, suggesting downside of -5.1%(ex-dividends)
The company's fiscal year ends in December.

Forecast for FY23:

Goldman Sachs forecasts a full year FY23 dividend of 41.00 cents and EPS of 95.00 cents.
At the last closing share price the estimated dividend yield is 3.51%.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 12.29.

How do these forecasts compare to market consensus projections?

Current consensus EPS estimate is 94.9, implying annual growth of -34.1%.
Current consensus DPS estimate is 16.4, implying a prospective dividend yield of 1.4%.
Current consensus EPS estimate suggests the PER is 12.3.

Forecast for FY24:

Goldman Sachs forecasts a full year FY24 dividend of 24.00 cents and EPS of 88.00 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 13.27.

How do these forecasts compare to market consensus projections?

Current consensus EPS estimate is 92.6, implying annual growth of -2.4%.
Current consensus DPS estimate is 14.0, implying a prospective dividend yield of 1.2%.
Current consensus EPS estimate suggests the PER is 12.6.

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

LEL    LITHIUM ENERGY LIMITED

Overnight Price: $0.90

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

Lithium Energy as a maiden resource for Corella graphite deposit in North Queensland which is better than Petra Capital anticipated.

The 1.3mt of contained graphite was 16% ahead of the brokers estimate and doubles the graphite resources contained across two deposits.

A pre-feasibility study is due at the end of the year which will outline the economics of sending the material to a plant in Townsville.

The broker believes investors are yet to price this in and reiterates a Buy rating. Target is $1.75.

This report was published on June 19, 2023.

Target price is $1.75 Current Price is $0.90 Difference: $0.85
If LEL meets the Petra Capital target it will return approximately 94% (excluding dividends, fees and charges).
The company's fiscal year ends in December.

Forecast for FY23:

Forecast for FY24:

Petra Capital forecasts a full year FY24 dividend of 0.00 cents and EPS of minus 11.70 cents.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is minus 7.69.

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

LYC    LYNAS RARE EARTHS LIMITED

Rare Earth Minerals – Overnight Price: $7.31

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

Goldman Sachs reviews its miners coverage, retaining a Neutral rating and $6.80 target for Lynas Rare Earths.

This report was published on June 16, 2023.

Target price is $6.80 Current Price is $7.31 Difference: minus $0.51 (current price is over target).
If LYC meets the Goldman Sachs target it will return approximately minus 7% (excluding dividends, fees and charges – negative figures indicate an expected loss).
Current consensus price target is $8.12, suggesting upside of 11.1%(ex-dividends)
The company's fiscal year ends in June.

Forecast for FY23:

Goldman Sachs forecasts a full year FY23 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 20.31.

How do these forecasts compare to market consensus projections?

Current consensus EPS estimate is 35.0, 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 20.9.

Forecast for FY24:

Goldman Sachs forecasts a full year FY24 dividend of 0.00 cents and EPS of 25.00 cents.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 29.24.

How do these forecasts compare to market consensus projections?

Current consensus EPS estimate is 39.8, implying annual growth of 13.7%.
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: 0.4
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: $74.06

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

Goldman Sachs reviews its lithium coverage, raising the target for Mineral Resources to $59 from $53 and maintaining a Sell rating.

This report was published on June 16, 2023.

Target price is $59.00 Current Price is $74.06 Difference: minus $15.06 (current price is over target).
If MIN meets the Goldman Sachs target it will return approximately minus 20% (excluding dividends, fees and charges – negative figures indicate an expected loss).
Current consensus price target is $87.14, suggesting upside of 17.7%(ex-dividends)
The company's fiscal year ends in June.

Forecast for FY23:

Goldman Sachs forecasts a full year FY23 dividend of 168.00 cents and EPS of 378.00 cents.
At the last closing share price the estimated dividend yield is 2.27%.
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 450.4, implying annual growth of 143.6%.
Current consensus DPS estimate is 256.2, implying a prospective dividend yield of 3.5%.
Current consensus EPS estimate suggests the PER is 16.4.

Forecast for FY24:

Goldman Sachs forecasts a full year FY24 dividend of 42.00 cents and EPS of 165.00 cents.
At the last closing share price the estimated dividend yield is 0.57%.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 44.88.

How do these forecasts compare to market consensus projections?

Current consensus EPS estimate is 876.1, implying annual growth of 94.5%.
Current consensus DPS estimate is 327.5, implying a prospective dividend yield of 4.4%.
Current consensus EPS estimate suggests the PER is 8.5.

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

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Jarden rates ((MIN)) as Underweight (4) –

Jarden notes Mineral Resources has terminated the "onerous" Ganfeng tolling agreement and will no longer share the economics of converting spodumene concentrate to hydroxide.

No tolling payments will be made in the current half-year, whereas the broker had forecast a -$225m outflow and, while applauding management on a great outcome for shareholders, wonders what convinced Ganfeng to give up the additional tolling consideration.

Meanwhile, Mineral Resources has lowered FY23 sales guidance for Mount Marion and raised its cost guidance for Wodgina. Jarden retains an Underweight rating. Target is raised to $59.41 from $58.95.

This report was published on June 16, 2023.

Target price is $59.41 Current Price is $74.06 Difference: minus $14.65 (current price is over target).
If MIN meets the Jarden target it will return approximately minus 20% (excluding dividends, fees and charges – negative figures indicate an expected loss).
Current consensus price target is $87.14, suggesting upside of 17.7%(ex-dividends)
The company's fiscal year ends in June.

Forecast for FY23:

Jarden forecasts a full year FY23 dividend of 189.00 cents and EPS of 338.20 cents.
At the last closing share price the estimated dividend yield is 2.55%.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 21.90.

How do these forecasts compare to market consensus projections?

Current consensus EPS estimate is 450.4, implying annual growth of 143.6%.
Current consensus DPS estimate is 256.2, implying a prospective dividend yield of 3.5%.
Current consensus EPS estimate suggests the PER is 16.4.

Forecast for FY24:

Jarden forecasts a full year FY24 dividend of 201.00 cents and EPS of 401.40 cents.
At the last closing share price the estimated dividend yield is 2.71%.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 18.45.

How do these forecasts compare to market consensus projections?

Current consensus EPS estimate is 876.1, implying annual growth of 94.5%.
Current consensus DPS estimate is 327.5, implying a prospective dividend yield of 4.4%.
Current consensus EPS estimate suggests the PER is 8.5.

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

NHC    NEW HOPE CORPORATION LIMITED

Coal – Overnight Price: $5.39

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

Goldman Sachs reviews its bulk miners coverage, retaining a Sell rating and $3 target for New Hope.

This report was published on June 16, 2023.

Target price is $3.00 Current Price is $5.39 Difference: minus $2.39 (current price is over target).
If NHC meets the Goldman Sachs target it will return approximately minus 44% (excluding dividends, fees and charges – negative figures indicate an expected loss).
Current consensus price target is $5.46, suggesting upside of 1.3%(ex-dividends)
The company's fiscal year ends in July.

Forecast for FY23:

Goldman Sachs forecasts a full year FY23 dividend of 67.00 cents and EPS of 134.00 cents.
At the last closing share price the estimated dividend yield is 12.43%.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 4.02.

How do these forecasts compare to market consensus projections?

Current consensus EPS estimate is 146.0, implying annual growth of 23.6%.
Current consensus DPS estimate is 81.4, implying a prospective dividend yield of 15.1%.
Current consensus EPS estimate suggests the PER is 3.7.

Forecast for FY24:

Goldman Sachs forecasts a full year FY24 dividend of 37.00 cents and EPS of 59.00 cents.
At the last closing share price the estimated dividend yield is 6.86%.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 9.14.

How do these forecasts compare to market consensus projections?

Current consensus EPS estimate is 88.6, implying annual growth of -39.3%.
Current consensus DPS estimate is 55.3, implying a prospective dividend yield of 10.3%.
Current consensus EPS estimate suggests the PER is 6.1.

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

PAN    PANORAMIC RESOURCES LIMITED

Nickel – Overnight Price: $0.10

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

Panoramic Resources has suspended production for up to 2 weeks to fix a pressure plate. The company will also progress with a full replacement of the unit because of uncertainty around structural integrity which is expected to take 4-6 weeks.

As a result, nickel production guidance is revised down -18%. Canaccord Genuity trims FY24 nickel and copper production forecasts by -4% and increases C1 costs by 5%.

Rating is downgraded to Speculative Buy from Buy and the target edges down to $0.22 from $0.23.

This report was published on June 16, 2023.

Target price is $0.22 Current Price is $0.10 Difference: $0.115
If PAN meets the Canaccord Genuity target it will return approximately 110% (excluding dividends, fees and charges).
The company's fiscal year ends in June.

Forecast for FY23:

Canaccord Genuity forecasts a full year FY23 dividend of 0.00 cents and EPS of 0.00 cents.

Forecast for FY24:

Canaccord Genuity forecasts a full year FY24 dividend of 0.00 cents and EPS of 0.00 cents.

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

PLS    PILBARA MINERALS LIMITED

New Battery Elements – Overnight Price: $4.94

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

Goldman Sachs reviews its lithium coverage, raising the target for Pilbara Minerals to $5 and maintaining a Neutral rating.

This report was published on June 16, 2023.

Target price is $5.00 Current Price is $4.94 Difference: $0.06
If PLS meets the Goldman Sachs target it will return approximately 1% (excluding dividends, fees and charges).
Current consensus price target is $4.99, suggesting upside of 1.0%(ex-dividends)
The company's fiscal year ends in June.

Forecast for FY23:

Goldman Sachs forecasts a full year FY23 dividend of 23.00 cents and EPS of 88.00 cents.
At the last closing share price the estimated dividend yield is 4.66%.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 5.61.

How do these forecasts compare to market consensus projections?

Current consensus EPS estimate is 76.5, implying annual growth of 303.1%.
Current consensus DPS estimate is 23.7, implying a prospective dividend yield of 4.8%.
Current consensus EPS estimate suggests the PER is 6.5.

Forecast for FY24:

Goldman Sachs forecasts a full year FY24 dividend of 22.00 cents and EPS of 37.00 cents.
At the last closing share price the estimated dividend yield is 4.45%.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 13.35.

How do these forecasts compare to market consensus projections?

Current consensus EPS estimate is 62.9, implying annual growth of -17.8%.
Current consensus DPS estimate is 13.7, implying a prospective dividend yield of 2.8%.
Current consensus EPS estimate suggests the PER is 7.9.

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

REG    REGIS HEALTHCARE LIMITED

Aged Care & Seniors – Overnight Price: $2.19

Moelis rates ((REG)) as Buy (1) –

Regis Healthcare has sold land and the Hollywood retirement village in Western Australia for $53m. Moelis reduces net debt estimates to reflect the asset sale, calculating this reduces gearing to less than 0.5x net debt/EBITDA.

In turn this should provide capacity to self-fund greenfield developments and execute on acquisitions. The broker also believes the investment thesis for the business has been partially de-risked post the federal budget. Buy rating maintained. Target rises to $2.64 from $2.55.

This report was published on June 19, 2023.

Target price is $2.64 Current Price is $2.19 Difference: $0.45
If REG meets the Moelis target it will return approximately 21% (excluding dividends, fees and charges).
The company's fiscal year ends in June.

Forecast for FY23:

Moelis forecasts a full year FY23 dividend of 4.30 cents and EPS of 5.90 cents.
At the last closing share price the estimated dividend yield is 1.96%.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 37.12.

Forecast for FY24:

Moelis forecasts a full year FY24 dividend of 8.00 cents and EPS of 8.10 cents.
At the last closing share price the estimated dividend yield is 3.65%.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 27.04.

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

RIO    RIO TINTO LIMITED

Bulks – Overnight Price: $117.40

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

Goldman Sachs reviews its bulk miners coverage, retaining a Buy rating and $130.70 target for Rio Tinto.

This report was published on June 16, 2023.

Target price is $130.70 Current Price is $117.40 Difference: $13.3
If RIO meets the Goldman Sachs target it will return approximately 11% (excluding dividends, fees and charges).
Current consensus price target is $114.58, suggesting downside of -2.4%(ex-dividends)
The company's fiscal year ends in December.

Forecast for FY23:

Goldman Sachs forecasts a full year FY23 dividend of 570.07 cents and EPS of 942.70 cents.
At the last closing share price the estimated dividend yield is 4.86%.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 12.45.

How do these forecasts compare to market consensus projections?

Current consensus EPS estimate is 1172.9, implying annual growth of N/A.
Current consensus DPS estimate is 722.3, implying a prospective dividend yield of 6.2%.
Current consensus EPS estimate suggests the PER is 10.0.

Forecast for FY24:

Goldman Sachs forecasts a full year FY24 dividend of 639.85 cents and EPS of 1021.38 cents.
At the last closing share price the estimated dividend yield is 5.45%.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 11.49.

How do these forecasts compare to market consensus projections?

Current consensus EPS estimate is 1155.7, implying annual growth of -1.5%.
Current consensus DPS estimate is 702.9, implying a prospective dividend yield of 6.0%.
Current consensus EPS estimate suggests the PER is 10.2.

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

S32    SOUTH32 LIMITED

Mining – Overnight Price: $3.94

Goldman Sachs rates ((S32)) as Buy (1) –

Goldman Sachs reviews its bulk miners coverage, retaining a Buy rating and $4.20 target for South32.

This report was published on June 16, 2023.

Target price is $4.20 Current Price is $3.94 Difference: $0.26
If S32 meets the Goldman Sachs target it will return approximately 7% (excluding dividends, fees and charges).
Current consensus price target is $4.93, suggesting upside of 25.0%(ex-dividends)
The company's fiscal year ends in June.

Forecast for FY23:

Goldman Sachs forecasts a full year FY23 dividend of 16.33 cents and EPS of 35.63 cents.
At the last closing share price the estimated dividend yield is 4.14%.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 11.06.

How do these forecasts compare to market consensus projections?

Current consensus EPS estimate is 40.4, implying annual growth of N/A.
Current consensus DPS estimate is 19.9, implying a prospective dividend yield of 5.1%.
Current consensus EPS estimate suggests the PER is 9.8.

Forecast for FY24:

Goldman Sachs forecasts a full year FY24 dividend of 25.24 cents and EPS of 51.96 cents.
At the last closing share price the estimated dividend yield is 6.41%.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 7.58.

How do these forecasts compare to market consensus projections?

Current consensus EPS estimate is 50.5, implying annual growth of 25.0%.
Current consensus DPS estimate is 26.7, implying a prospective dividend yield of 6.8%.
Current consensus EPS estimate suggests the PER is 7.8.

This company reports in USD. All estimates have been converted into AUD by FNArena at present FX values.
Market Sentiment: 0.8
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources

SFR    SANDFIRE RESOURCES LIMITED

Copper – Overnight Price: $6.32

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

Goldman Sachs reviews its miners coverage, retaining a Sell rating and $4.60 target for Sandfire Resources.

This report was published on June 16, 2023.

Target price is $4.60 Current Price is $6.32 Difference: minus $1.72 (current price is over target).
If SFR meets the Goldman Sachs target it will return approximately minus 27% (excluding dividends, fees and charges – negative figures indicate an expected loss).
Current consensus price target is $6.91, suggesting upside of 9.3%(ex-dividends)
The company's fiscal year ends in June.

Forecast for FY23:

Goldman Sachs forecasts a full year FY23 dividend of 0.00 cents and EPS of minus 15.00 cents.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is minus 42.13.

How do these forecasts compare to market consensus projections?

Current consensus EPS estimate is -12.9, 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 FY24:

Goldman Sachs forecasts a full year FY24 dividend of 2.00 cents and EPS of 9.00 cents.
At the last closing share price the estimated dividend yield is 0.32%.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 70.22.

How do these forecasts compare to market consensus projections?

Current consensus EPS estimate is 15.3, implying annual growth of N/A.
Current consensus DPS estimate is 2.4, implying a prospective dividend yield of 0.4%.
Current consensus EPS estimate suggests the PER is 41.3.

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

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Jarden rates ((SFR)) as Buy (1) –

Jarden notes press reports that indicate the owners of the Khoemacau copper mine in Botswana, which is next to the Motheo operation, are running a formal divestment process, with Sandfire Resources mentioned as an interested participant in the process.

Jarden estimates an acquisition has potential to double the company's current copper production by FY27-28.

Moreover, even if Sandfire Resources is ultimately beaten on a bid this will still highlight positive implications for its Motheo operations. Jarden retains a Buy rating and reduces the target to $6.65 from $6.80.

This report was published on June 16, 2023.

Target price is $6.65 Current Price is $6.32 Difference: $0.33
If SFR meets the Jarden target it will return approximately 5% (excluding dividends, fees and charges).
Current consensus price target is $6.91, suggesting upside of 9.3%(ex-dividends)
The company's fiscal year ends in June.

Forecast for FY23:

Jarden forecasts a full year FY23 dividend of 0.00 cents and EPS of minus 11.43 cents.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is minus 55.29.

How do these forecasts compare to market consensus projections?

Current consensus EPS estimate is -12.9, 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 FY24:

Jarden forecasts a full year FY24 dividend of 2.97 cents and EPS of 10.54 cents.
At the last closing share price the estimated dividend yield is 0.47%.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 59.96.

How do these forecasts compare to market consensus projections?

Current consensus EPS estimate is 15.3, implying annual growth of N/A.
Current consensus DPS estimate is 2.4, implying a prospective dividend yield of 0.4%.
Current consensus EPS estimate suggests the PER is 41.3.

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

SGM    SIMS LIMITED

Steel & Scrap – Overnight Price: $15.55

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

Goldman Sachs reviews its steel coverage, retaining a Buy rating and $16.60 target for Sims.

This report was published on June 16, 2023.

Target price is $16.60 Current Price is $15.55 Difference: $1.05
If SGM meets the Goldman Sachs target it will return approximately 7% (excluding dividends, fees and charges).
Current consensus price target is $14.90, suggesting downside of -4.2%(ex-dividends)
The company's fiscal year ends in June.

Forecast for FY23:

Goldman Sachs forecasts a full year FY23 dividend of 46.00 cents and EPS of 91.00 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 17.09.

How do these forecasts compare to market consensus projections?

Current consensus EPS estimate is 77.5, implying annual growth of -74.4%.
Current consensus DPS estimate is 33.0, implying a prospective dividend yield of 2.1%.
Current consensus EPS estimate suggests the PER is 20.1.

Forecast for FY24:

Goldman Sachs forecasts a full year FY24 dividend of 54.00 cents and EPS of 107.00 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 14.53.

How do these forecasts compare to market consensus projections?

Current consensus EPS estimate is 97.0, implying annual growth of 25.2%.
Current consensus DPS estimate is 31.8, implying a prospective dividend yield of 2.0%.
Current consensus EPS estimate suggests the PER is 16.0.

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

WHC    WHITEHAVEN COAL LIMITED

Coal – Overnight Price: $6.78

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

Goldman Sachs reviews its bulk miners coverage, retaining a Neutral rating and $7.20 target for Whitehaven Coal.

This report was published on June 16, 2023.

Target price is $7.20 Current Price is $6.78 Difference: $0.42
If WHC meets the Goldman Sachs target it will return approximately 6% (excluding dividends, fees and charges).
Current consensus price target is $8.38, suggesting upside of 23.6%(ex-dividends)
The company's fiscal year ends in June.

Forecast for FY23:

Goldman Sachs forecasts a full year FY23 dividend of 48.00 cents and EPS of 287.00 cents.
At the last closing share price the estimated dividend yield is 7.08%.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 2.36.

How do these forecasts compare to market consensus projections?

Current consensus EPS estimate is 311.3, implying annual growth of 57.5%.
Current consensus DPS estimate is 61.4, implying a prospective dividend yield of 9.1%.
Current consensus EPS estimate suggests the PER is 2.2.

Forecast for FY24:

Goldman Sachs forecasts a full year FY24 dividend of 36.00 cents and EPS of 132.00 cents.
At the last closing share price the estimated dividend yield is 5.31%.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 5.14.

How do these forecasts compare to market consensus projections?

Current consensus EPS estimate is 165.2, implying annual growth of -46.9%.
Current consensus DPS estimate is 45.1, implying a prospective dividend yield of 6.7%.
Current consensus EPS estimate suggests the PER is 4.1.

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

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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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