Daily Market Reports | Jan 30 2025
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)
AEE BGL (2) DSE EXP GOR (2) IPX NXL PLS SFX SMR WHC
AEE AURA ENERGY LIMITED
Energy - Overnight Price: $0.14
Petra Capital rates ((AEE)) as Buy (1) -
Petra Capital highlights Aura Energy made good progress in the December quarter, noting previously reported updated ore reserve at the Tiris uranium project showing a 49% increase.
The broker reiterated project financing is likely the key catalyst for the company. Both debt and strategic equity engagements are well advanced and the project final investment decision is still targeted for the March quarter.
Buy rating and 36c target price retained.
This report was published on January 29, 2025.
Target price is $0.36 Current Price is $0.14 Difference: $0.22
If AEE meets the Petra Capital target it will return approximately 157% (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 0.30 cents.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is minus 46.67.
Forecast for FY26:
Petra Capital forecasts a full year FY26 dividend of 0.00 cents and EPS of minus 0.30 cents.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is minus 46.67.
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources
BGL BELLEVUE GOLD LIMITED
Gold & Silver - Overnight Price: $1.20
Canaccord Genuity rates ((BGL)) as Speculative Buy (1) -
Bellevue Gold's 2Q25 production of 26koz was down -28% quarter on quarter, with sales of 26koz missing Canaccord Genuity's forecast of 38koz. Cost of $2,765/oz was also 7% higher vs the broker's estimate.
The company revised down FY25 production guidance and revised up the cost forecast to 150-165koz at $1,900-2,100/oz, prompting the broker to also lower its production estimate to 150koz at $2,049/oz from $153koz at $1,992/oz.
No change to the $2.25 target price and Speculative Buy rating.
This report was published on January 28, 2025.
Target price is $2.25 Current Price is $1.20 Difference: $1.05
If BGL meets the Canaccord Genuity target it will return approximately 88% (excluding dividends, fees and charges).
Current consensus price target is $1.61, suggesting upside of 33.3%(ex-dividends)
The company's fiscal year ends in June.
Forecast for FY25:
Canaccord Genuity forecasts a full year FY25 dividend of 0.00 cents and EPS of 11.00 cents.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 10.91.How do these forecasts compare to market consensus projections?
Current consensus EPS estimate is 9.1, implying annual growth of 39.6%.
Current consensus DPS estimate is N/A, implying a prospective dividend yield of N/A.
Current consensus EPS estimate suggests the PER is 13.3.
Forecast for FY26:
Canaccord Genuity forecasts a full year FY26 dividend of 0.00 cents and EPS of 23.00 cents.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 5.22.How do these forecasts compare to market consensus projections?
Current consensus EPS estimate is 16.2, implying annual growth of 78.0%.
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.
Market Sentiment: 0.8
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources
Moelis rates ((BGL)) as Hold (3) -
Following additional details on Bellevue Gold's 2Q25 performance including production and costs, and guidance for FY25, Moelis slightly lifted production estimate for the year given the reiteration of 2H 90koz guidance.
Production estimate is up 6% to 150.1koz, sitting within the company's guidance of 150-165koz, though the broker acknowledges a lot needs to go right over the next 5 months.
The broker lowered the cost estimate to $2,139/oz following Bellevue's revised guidance of $1900-2100/oz for FY25.
Hold rating retained and target price is $1.2.
This report was published on January 28, 2025.
Target price is $1.20 Current Price is $1.20 Difference: $0
If BGL meets the Moelis target it will return approximately 0% (excluding dividends, fees and charges).
Current consensus price target is $1.61, suggesting upside of 33.3%(ex-dividends)
The company's fiscal year ends in June.
Forecast for FY25:
Moelis forecasts a full year FY25 dividend of 0.00 cents and EPS of 8.90 cents.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 13.48.How do these forecasts compare to market consensus projections?
Current consensus EPS estimate is 9.1, implying annual growth of 39.6%.
Current consensus DPS estimate is N/A, implying a prospective dividend yield of N/A.
Current consensus EPS estimate suggests the PER is 13.3.
Forecast for FY26:
Moelis forecasts a full year FY26 dividend of 0.00 cents and EPS of 15.80 cents.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 7.59.How do these forecasts compare to market consensus projections?
Current consensus EPS estimate is 16.2, implying annual growth of 78.0%.
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.
Market Sentiment: 0.8
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources
DSE DROPSUITE LIMITED
Cloud services - Overnight Price: $5.73
Petra Capital rates ((DSE)) as Downgrade to Hold from Buy (3) -
Dropsuite reported another strong quarter, with a 37% year-on-year increase in annual recurring revenue (ARR) to US$31.5m in 4Q24. In AUD terms, this translates to a 45% y/y increase buoyed by the lower AUD, notes Petra Capital.
The company received a takeover offer from NinjaOne at $5.9/share which the broker views as compelling and likely to succeed.
The broker has lifted EPS estimates for FY24 and FY25 by 7% and 5%, respectively with the key drivers being higher ARR and a lower AUD/USD.
Target price lifted to $5.9 from $3.98. Rating lowered to Hold from Buy.
This report was published on January 29, 2025.
Target price is $5.90 Current Price is $5.73 Difference: $0.17
If DSE meets the Petra Capital target it will return approximately 3% (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 1.80 cents.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 318.33.
Forecast for FY25:
Petra Capital forecasts a full year FY25 dividend of 0.00 cents and EPS of 2.60 cents.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 220.38.
Market Sentiment: 0.5
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources
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