Weekly Reports | Apr 26 2024
This story features QUBE HOLDINGS LIMITED, and other companies. For more info SHARE ANALYSIS: QUB
Broker Rating Changes (Post Thursday Last Week)
None
Price Target Changes (Post Thursday Last Week)
| Company | Last Price | Broker | New Target | Old Target | Change | |
|---|---|---|---|---|---|---|
| A1M | AIC Mines | $0.46 | Moelis | 0.55 | 0.56 | -1.79% |
| ADT | Adriatic Metals | $4.20 | Canaccord Genuity | 5.35 | 3.95 | 35.44% |
| AEE | Aura Energy | $0.17 | Petra Capital | 0.45 | 0.47 | -4.26% |
| AGN | Argenica Therapeutics | $0.56 | Petra Capital | 1.00 | 1.09 | -8.26% |
| AMP | AMP | $1.12 | Jarden | 1.17 | 1.20 | -2.50% |
| AOF | Australian Unity Office Fund | $1.27 | Moelis | 1.55 | 1.47 | 5.44% |
| BGL | Bellevue Gold | $1.73 | Canaccord Genuity | 2.25 | 2.00 | 12.50% |
| BHP | BHP Group | $45.23 | Goldman Sachs | 49.00 | 49.40 | -0.81% |
| BOQ | Bank of Queensland | $6.17 | Goldman Sachs | 5.44 | 5.04 | 7.94% |
| Jarden | 5.80 | 5.60 | 3.57% | |||
| CAI | Calidus Resources | $0.13 | Canaccord Genuity | 0.29 | 0.33 | -12.12% |
| CGF | Challenger | $6.84 | Jarden | 7.55 | 7.50 | 0.67% |
| CMM | Capricorn Metals | $4.96 | Canaccord Genuity | 6.55 | 5.75 | 13.91% |
| COE | Cooper Energy | $0.22 | Jarden | 0.23 | 0.24 | -4.17% |
| CYG | Coventry Group | $1.51 | Petra Capital | 2.50 | 2.29 | 9.17% |
| DEG | De Grey Mining | $1.32 | Canaccord Genuity | 2.70 | 2.35 | 14.89% |
| EVN | Evolution Mining | $3.97 | Canaccord Genuity | 4.50 | 4.20 | 7.14% |
| Canaccord Genuity | 4.60 | 4.20 | 9.52% | |||
| Goldman Sachs | 4.25 | 3.70 | 14.86% | |||
| Jarden | 3.16 | 3.12 | 1.28% | |||
| FEX | Fenix Resources | $0.28 | Petra Capital | 0.43 | 0.42 | 2.38% |
| GDG | Generation Development | $2.19 | Moelis | 2.56 | 2.34 | 9.40% |
| GMD | Genesis Minerals | $1.77 | Canaccord Genuity | 2.90 | 2.40 | 20.83% |
| Moelis | 2.15 | 2.20 | -2.27% | |||
| GOR | Gold Road Resources | $1.65 | Canaccord Genuity | 2.10 | 1.90 | 10.53% |
| LGP | Little Green Pharma | $0.13 | Canaccord Genuity | 0.17 | 0.20 | -15.00% |
| MAQ | Macquarie Technology | $81.25 | Petra Capital | 82.16 | 89.77 | -8.48% |
| NST | Northern Star Resources | $14.88 | Canaccord Genuity | 19.25 | 16.35 | 17.74% |
| ORR | OreCorp | $0.57 | Canaccord Genuity | 0.57 | 1.20 | -52.50% |
| PDI | Predictive Discovery | $0.21 | Canaccord Genuity | 0.45 | 0.41 | 9.76% |
| PPS | Praemium | $0.48 | Moelis | 0.67 | 0.64 | 4.69% |
| Wilsons | 0.56 | 0.54 | 3.70% | |||
| PRU | Perseus Mining | $2.21 | Canaccord Genuity | 3.60 | 3.15 | 14.29% |
| QUB | Qube Holdings | $3.35 | Goldman Sachs | 3.70 | 3.72 | -0.54% |
| RED | Red 5 | $0.43 | Canaccord Genuity | 0.48 | 0.40 | 20.00% |
| RMS | Ramelius Resources | $2.02 | Canaccord Genuity | 2.65 | 2.10 | 26.19% |
| Canaccord Genuity | 2.65 | 2.25 | 17.78% | |||
| RRL | Regis Resources | $2.20 | Canaccord Genuity | 2.55 | 2.50 | 2.00% |
| RSG | Resolute Mining | $0.41 | Canaccord Genuity | 1.40 | 1.15 | 21.74% |
| SLR | Silver Lake Resources | $1.42 | Canaccord Genuity | 1.75 | 1.50 | 16.67% |
| SPR | Spartan Resources | $0.62 | Canaccord Genuity | 0.85 | 0.75 | 13.33% |
| STO | Santos | $7.75 | Jarden | 8.15 | 8.20 | -0.61% |
| TIE | Tietto Minerals | $0.68 | Canaccord Genuity | 0.90 | 0.80 | 12.50% |
| TLX | Telix Pharmaceuticals | $14.88 | Jarden | 13.52 | 13.27 | 1.88% |
| Wilsons | 14.50 | 14.28 | 1.54% | |||
| WGX | Westgold Resources | $2.15 | Petra Capital | 2.68 | 3.19 | -15.99% |
| Company | Last Price | Broker | New Target | Old Target | Change | |
More Highlights
CYG COVENTRY GROUP LIMITED
Hardware & Equipment – Overnight Price: $1.58
Petra Capital rates ((CYG)) as Buy (1) –
Petra Capital reiterates its Buy recommendation for Coventry Group, raising the 12-month target price to $2.50 from $2.29.
This upward adjustment follows the acquisition of Steelmasters, a provider of fasteners and industrial supply products with a 12-store network across Australia and New Zealand.
The broker says this acquisition, valued at NZ$45m, enhances the company's market position and provides opportunities for increased margin expansion.
Management's FY24 EBITDA guidance is in the range of $19m to $20m, below Petra Capital's previous forecast of $20.8m due to ongoing weakness in New Zealand and Tasmania. Forecasts have been reduced in response.
This report was published on April 22, 2024.
Target price is $2.50 Current Price is $1.58 Difference: $0.92
If CYG meets the Petra Capital target it will return approximately 58% (excluding dividends, fees and charges).
The company's fiscal year ends in June.
Forecast for FY24:
Petra Capital forecasts a full year FY24 dividend of 3.50 cents and EPS of 10.60 cents.
At the last closing share price the estimated dividend yield is 2.22%.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 14.91.
Forecast for FY25:
Petra Capital forecasts a full year FY25 dividend of 8.00 cents and EPS of 19.40 cents.
At the last closing share price the estimated dividend yield is 5.06%.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 8.14.
Market Sentiment: 1.0
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources
DSE DROPSUITE LIMITED
Cloud services – Overnight Price: $0.28
Petra Capital rates ((DSE)) as Buy (1) –
Petra Capital reiterates its Buy rating on Dropsuite while maintaining its 12-month target price at $0.32.
The broker highlights the 1Q24 update indicates a business growing faster than the broader market, despite a lower-than-expected revenue run rate.
A decline in net user gain (73,000 versus 109,000 estimated) caused a downward revision to Dropsuite's annual recurring revenue (ARR) forecast to US$29.9m from US$30.7m.
Despite this setback, the trend remains positive, with ARR increasing by 7% in US dollars and 9% in Australian dollars compared to the previous quarter.
The potential risks identified include higher customer churn due to competitive pressures, most notably in the Europe, Middle East, and Africa (EMEA) region.
This report was published on April 22, 2024.
Target price is $0.32 Current Price is $0.28 Difference: $0.045
If DSE meets the Petra Capital target it will return approximately 16% (excluding dividends, fees and charges).
The company's fiscal year ends in December.
Forecast for FY24:
Petra Capital forecasts a full year FY24 dividend of 0.00 cents and EPS of 0.30 cents.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 91.67.
Forecast for FY25:
Petra Capital forecasts a full year FY25 dividend of 0.00 cents and EPS of 0.30 cents.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 91.67.
Market Sentiment: 1.0
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources
PDI PREDICTIVE DISCOVERY LIMITED
Gold & Silver – Overnight Price: $0.23
Canaccord Genuity rates ((PDI)) as Speculative Buy (1) –
Canaccord Genuity highlights ASX-listed gold equities continue to trade at material discounts to their all-time highs, despite all-time high gold prices. These equities are expected to outperform and close the gap to the rising gold price.
Since January, silver has jumped by 21% (versus the 16% rise for the US dollar gold price), but is still some -40% off its April 2011 all-time high of just below US$50/oz, notes the broker.
Canaccord raises its near-term US gold price estimates (2024-26) by an average of 8.3%, and from 2028 by 10.3% to US$2,582/oz. The long-term US silver price forecast is increased by 8.8%, with near-term estimates raised by an average of 7%.
For senior and junior producers under the broker's coverage, target prices rise on average by 12% and 11%, respectively. Across developers/explorers the targets have increase by 11% on average.
The Speculative Buy rating is maintained for the broker's preferred gold developer Predictive Discovery, and the target price climbs to 45c from 41c.
This report was published on April 18, 2024.
Target price is $0.45 Current Price is $0.23 Difference: $0.225
If PDI meets the Canaccord Genuity target it will return approximately 100% (excluding dividends, fees and charges).
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources
QUB QUBE HOLDINGS LIMITED
Transportation & Logistics – Overnight Price: $3.36
Goldman Sachs rates ((QUB)) as Re-initiation of coverage with Buy (1) –
Goldman Sachs has re-initiated coverage on Qube Holdings, with our archive showing active research on the company ceased back in 2021.
Research resumes with a Buy rating and $3.70 price target. Remarkable, as back in 2021 that target was set at $3.72.
The broker's analysis attributes Qube's positive outlook to its diversified business model, delivering GDP-plus growth in revenue and earnings.
The report highlights several factors contributing to this optimistic view, including the receding uncertainty over the Moorebank project, anticipated to start contributing to revenue in the coming years.
Goldman Sachs also notes the reduced margin volatility and increased earnings predictability over the last 3-5 years, with ongoing capital expenditures set to support stable growth.
This report was published on April 18, 2024.
Target price is $3.70 Current Price is $3.36 Difference: $0.34
If QUB meets the Goldman Sachs target it will return approximately 10% (excluding dividends, fees and charges).
Current consensus price target is $3.61, suggesting upside of 7.2%(ex-dividends)
The company's fiscal year ends in June.
Forecast for FY24:
Goldman Sachs forecasts a full year FY24 dividend of 7.50 cents and EPS of 14.23 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 23.61.How do these forecasts compare to market consensus projections?
Current consensus EPS estimate is 14.1, implying annual growth of 41.4%.
Current consensus DPS estimate is 8.3, implying a prospective dividend yield of 2.5%.
Current consensus EPS estimate suggests the PER is 23.9.
Forecast for FY25:
Goldman Sachs forecasts a full year FY25 dividend of 7.65 cents and EPS of 14.53 cents.
At the last closing share price the estimated dividend yield is 2.28%.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 23.12.How do these forecasts compare to market consensus projections?
Current consensus EPS estimate is 14.9, implying annual growth of 5.7%.
Current consensus DPS estimate is 8.9, implying a prospective dividend yield of 2.6%.
Current consensus EPS estimate suggests the PER is 22.6.
Market Sentiment: 0.4
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources
RXM REX MINERALS LIMITED
Gold & Silver – Overnight Price: $0.22
Moelis rates ((RXM)) as Initiation of coverage with Buy (1) –
Moelis has initiated with a Buy rating on Rex Minerals and a 12-month price target of $0.50/share.
The positive initiation reflects the potential of the Hillside copper-gold project in South Australia, explains the broker, which is fully permitted and expected to produce circa 40kt copper and 30koz gold annually for an initial 11-year mine life.
Moelis sees this project having longer-term potential, suggesting production could continue for 20+ years, if extended further.
This report was published on April 22, 2024.
Target price is $0.50 Current Price is $0.22 Difference: $0.28
If RXM meets the Moelis target it will return approximately 127% (excluding dividends, fees and charges).
The company's fiscal year ends in June.
Forecast for FY24:
Moelis forecasts a full year FY24 dividend of 0.00 cents and EPS of minus 2.60 cents.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is minus 8.46.
Forecast for FY25:
Moelis forecasts a full year FY25 dividend of 0.00 cents and EPS of minus 2.20 cents.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is minus 10.00.
Market Sentiment: 1.0
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources
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For more info SHARE ANALYSIS: QUB - QUBE HOLDINGS LIMITED
For more info SHARE ANALYSIS: RXM - REX MINERALS LIMITED