Daily Market Reports | Oct 03 2024
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)
A1M ACF ALK ASN AYA BRG CKF (2) DMP DXS FFM GMD GOR GOZ GYG LTR MAC OBM ORI RIO VAU
A1M AIC MINES LIMITED
Gold & Silver - Overnight Price: $0.36
Moelis rates ((A1M)) as Buy (1) -
Moelis updates the gold, silver, copper and forex estimates and marks-to-market the changes to earnings estimates.
AIC Mines is Buy rated. Target price lifts to 65c from 64c.
This report was published on October 2, 2024.
Target price is $0.65 Current Price is $0.36 Difference: $0.285
If A1M meets the Moelis target it will return approximately 78% (excluding dividends, fees and charges).
The company's fiscal year ends in June.
Forecast for FY25:
Moelis forecasts a full year FY25 dividend of 0.00 cents.
Forecast for FY26:
Moelis forecasts a full year FY26 dividend 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
ACF ACROW LIMITED
Building Products & Services - Overnight Price: $1.10
Petra Capital rates ((ACF)) as Buy (1) -
Acrow has reported a 51% jump in new hire contracts for Q1 FY25 compared to 17% growth in FY24. Petra Capital, however, leaves earnings forecasts unchanged awaiting greater clarity on the extent to which project delays are curtailing revenue conversion.
The contracts wins provide a good lead indicator for FY25 revenues, highlights the broker, and underline the strength of Acrow's
competitive position, including the benefits being derived from the broadening suite of products and services.
The Buy rating and $1.32 target are maintained.
This report was published on October 2, 2024.
Target price is $1.32 Current Price is $1.10 Difference: $0.22
If ACF meets the Petra Capital target it will return approximately 20% (excluding dividends, fees and charges).
Current consensus price target is $1.28, suggesting upside of 16.7%(ex-dividends)
The company's fiscal year ends in June.
Forecast for FY25:
Petra Capital forecasts a full year FY25 dividend of 5.50 cents and EPS of 11.30 cents.
At the last closing share price the estimated dividend yield is 5.00%.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 9.73.How do these forecasts compare to market consensus projections?
Current consensus EPS estimate is 12.1, implying annual growth of 36.4%.
Current consensus DPS estimate is 5.6, implying a prospective dividend yield of 5.1%.
Current consensus EPS estimate suggests the PER is 9.1.
Forecast for FY26:
Petra Capital forecasts a full year FY26 dividend of 7.00 cents and EPS of 14.10 cents.
At the last closing share price the estimated dividend yield is 6.36%.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 7.80.How do these forecasts compare to market consensus projections?
Current consensus EPS estimate is 12.5, implying annual growth of 3.3%.
Current consensus DPS estimate is 6.0, implying a prospective dividend yield of 5.5%.
Current consensus EPS estimate suggests the PER is 8.8.
Market Sentiment: 1.0
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources
ALK ALKANE RESOURCES LIMITED
Gold & Silver - Overnight Price: $0.44
Moelis rates ((ALK)) as Buy (1) -
Moelis updates the gold, silver, copper and forex estimates and marks-to-market the changes to earnings estimates.
Alkane Resources is Buy rated. Target price rises to 70c from 64c.
This report was published on October 2, 2024.
Target price is $0.70 Current Price is $0.44 Difference: $0.26
If ALK meets the Moelis target it will return approximately 59% (excluding dividends, fees and charges).
The company's fiscal year ends in June.
Forecast for FY25:
Moelis forecasts a full year FY25 dividend of 0.00 cents.
Forecast for FY26:
Moelis forecasts a full year FY26 dividend of 0.00 cents.
Market Sentiment: 0.5
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources
ASN ANSON RESOURCES LIMITED
New Battery Elements - Overnight Price: $0.07
Petra Capital rates ((ASN)) as Buy (1) -
Petra Capital has updated following a site visit to Anson Resources' Utah operations, including the Green River Lithium project in the Paradox Basin, where product samples are being produced from the nearby brine well for further customer qualification.
The Utah state regulator has re-confirmed Anson's brine extraction permit, note the analysts, and management has secured additional lithium leases at Green River from SITLA (the state School and Institutional Trust Land Administration).
Buy. The target falls to 35c from 41c after the broker adjusts for increased dilution post a $5m capital raise.
This report was published on October 2, 2024.
Target price is $0.35 Current Price is $0.07 Difference: $0.275
If ASN meets the Petra Capital target it will return approximately 367% (excluding dividends, fees and charges).
The company's fiscal year ends in June.
Forecast for FY25:
Petra Capital forecasts a full year FY25 dividend of 0.00 cents and EPS of minus 0.20 cents.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is minus 37.50.
Forecast for FY26:
Petra Capital forecasts a full year FY26 dividend of 0.00 cents and EPS of minus 0.20 cents.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is minus 37.50.
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources
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