Australian Broker Call *Extra* Edition – Apr 22, 2025

This story features AMPLITUDE ENERGY LIMITED, and other companies. For more info SHARE ANALYSIS: AEL

The company is included in ASX300 and ALL-ORDS

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)

AEL (2)   AIM   AUE   BGL (2)   CU6   CY5   EVN   GMD   HMC   HRZ   HUB   IAG   IPX (2)   MEK   PLS   PNI   PPT   QBE   RMD   S32   STK   SUN   SVL   TWE   VEA   WAF   WDS   WIA  

AEL    AMPLITUDE ENERGY LIMITED

Crude Oil – Overnight Price: $0.18

Jarden rates ((AEL)) as Buy (1) –

Amplitude Energy provided few surprises in the March quarter report, according to Jarden. Production of 1.00mmboe came in below the previous quarter by -9% due to a scheduled shutdown at Orbost and lower output at Athena.

Management retained the FY25 production guidance range of 6572TJe/day, although the analyst believes there are upside risks to the Orbost plant performance.

No change to 25c target and Buy rating. EPS estimates remain.

This report was published on April 15, 2025.

Target price is $0.25 Current Price is $0.18 Difference: $0.065
If AEL meets the Jarden target it will return approximately 35% (excluding dividends, fees and charges).
Current consensus price target is $0.26, suggesting upside of 44.4%(ex-dividends)
The company’s fiscal year ends in June.

Forecast for FY25:

Jarden 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 61.67.

How do these forecasts compare to market consensus projections?

Current consensus EPS estimate is 0.9, 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 20.0.

Forecast for FY26:

Jarden forecasts a full year FY26 dividend of 0.00 cents and EPS of 1.20 cents.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 15.42.

How do these forecasts compare to market consensus projections?

Current consensus EPS estimate is 2.4, implying annual growth of 166.7%.
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

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Wilsons rates ((AEL)) as Upgrade to Overweight from Market Weight (1) –

Wilsons’ notes Amplitude Energy’s March quarter results were in line with consensus, with the highlight being the successful implementation of 7-day shutdown at Orbost and returning the plant to full capacity.

The broker believes the company will be able to manage its finances during phase 1 of the East Coast Supply Project, after the cost blow-out during the decommissioning phase.

The analyst cut FY25 production forecast by -2% but raised FY26 by 1%, and incorporated previously announced cost blow-out.

Target unchanged at 24c. Rating upgraded to Overweight from Market Weight on share price fall.

This report was published on April 16, 2025.

Target price is $0.24 Current Price is $0.18 Difference: $0.055
If AEL meets the Wilsons target it will return approximately 30% (excluding dividends, fees and charges).
Current consensus price target is $0.26, suggesting upside of 44.4%(ex-dividends)
The company’s fiscal year ends in June.

Forecast for FY25:

Wilsons forecasts a full year FY25 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 20.56.

How do these forecasts compare to market consensus projections?

Current consensus EPS estimate is 0.9, 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 20.0.

Forecast for FY26:

Wilsons forecasts a full year FY26 dividend of 0.00 cents and EPS of 1.30 cents.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 14.23.

How do these forecasts compare to market consensus projections?

Current consensus EPS estimate is 2.4, implying annual growth of 166.7%.
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

AIM    AI-MEDIA TECHNOLOGIES LIMITED

Commercial Services & Supplies – Overnight Price: $0.74

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

Petra Capital notes the launch of LEXI Brew (LB) as adding an incremental value option to the LEXI product family for Ai-Media Technologies.

The broker explains LB is an enterprise customer AI solution which integrates AI models (ChatGPT) with private customer data to create specifically tailored large language models and offers real-time insight and automation.

Buy rating and $1.35 target retained.

This report was published on April 17, 2025.

Target price is $1.35 Current Price is $0.74 Difference: $0.61
If AIM meets the Petra Capital target it will return approximately 82% (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 0.60 cents.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is minus 123.33.

Forecast for FY26:

Petra Capital forecasts a full year FY26 dividend of 0.00 cents and EPS of 1.00 cents.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 74.00.

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

AUE    AURUM RESOURCES LIMITED

Gold & Silver – Overnight Price: $0.36

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

Aurum Resources reported further strong gold intercepts at Boundiali, Cte d’Ivoire, including 89m at 2.42g/t gold, supporting the existence of plunging high-grade shoots at BDT1.

Petra Capital says this confirms the potential for resource growth beyond 2.0Moz, with updated estimates expected in the June and December quarters.

Buy rating maintained and target price raised to $1.02 from $0.93.

This report was published on April 17, 2025.

Target price is $1.02 Current Price is $0.36 Difference: $0.655
If AUE meets the Petra Capital target it will return approximately 179% (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 17.10 cents.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 2.13.

Forecast for FY26:

Petra Capital forecasts a full year FY26 dividend of 0.00 cents and EPS of 22.60 cents.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 1.62.

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: $0.98

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

A downgrade in March quarter production and a revised mine plan resulting in a medium-term production outlook triggered a review event with Bellevue Gold’s lender.

As a result, the company had to close out gold hedges, requiring a $156.5m equity placement, with the balance $40m used for working capital. An additional 8.5m shares were also issued to the lender.

Goldman Sachs notes the company initiated a strategic review, and confirmed receipt of unsolicited approaches, but no formal offers.

FY25-26 EPS lowered on upgraded outlook and share dilution. Buy. Target cut to $1.25 from $1.45.

This report was published on April 14, 2025.

Target price is $1.25 Current Price is $0.98 Difference: $0.265
If BGL meets the Goldman Sachs target it will return approximately 27% (excluding dividends, fees and charges).
Current consensus price target is $1.33, suggesting upside of 42.5%(ex-dividends)
The company’s fiscal year ends in June.

Forecast for FY25:

Goldman Sachs forecasts a full year FY25 dividend of 0.00 cents and EPS of 4.00 cents.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 24.63.

How do these forecasts compare to market consensus projections?

Current consensus EPS estimate is 4.5, implying annual growth of -31.0%.
Current consensus DPS estimate is N/A, implying a prospective dividend yield of N/A.
Current consensus EPS estimate suggests the PER is 20.7.

Forecast for FY26:

Goldman Sachs forecasts a full year FY26 dividend of 0.00 cents and EPS of 9.00 cents.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 10.94.

How do these forecasts compare to market consensus projections?

Current consensus EPS estimate is 10.1, implying annual growth of 124.4%.
Current consensus DPS estimate is N/A, implying a prospective dividend yield of N/A.
Current consensus EPS estimate suggests the PER is 9.2.

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

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

Despite incorporating higher gold prices into its forecasts, Jarden’s valuation of Bellevue Gold was significantly impacted by equity dilution and downgrades to production guidance.

The company raised $156.5m from placement at 85c/share to retire hedging commitments plus put $40m towards working capital. The hedging retirement deal also involved issuing 8.5m shares to the lender.

FY25 production was downgraded to 129-134koz from 150-165koz, along with guidance cuts to FY26 and FY27-29 forecasts.

Target cut to $0.71 from $1.01. Underweight maintained.

This report was published on April 14, 2025.

Target price is $0.71 Current Price is $0.98 Difference: minus $0.275 (current price is over target).
If BGL meets the Jarden target it will return approximately minus 28% (excluding dividends, fees and charges – negative figures indicate an expected loss).
Current consensus price target is $1.33, suggesting upside of 42.5%(ex-dividends)
The company’s fiscal year ends in June.

Forecast for FY25:

Jarden forecasts a full year FY25 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 54.72.

How do these forecasts compare to market consensus projections?

Current consensus EPS estimate is 4.5, implying annual growth of -31.0%.
Current consensus DPS estimate is N/A, implying a prospective dividend yield of N/A.
Current consensus EPS estimate suggests the PER is 20.7.

Forecast for FY26:

Jarden forecasts a full year FY26 dividend of 0.00 cents and EPS of 4.80 cents.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 20.52.

How do these forecasts compare to market consensus projections?

Current consensus EPS estimate is 10.1, implying annual growth of 124.4%.
Current consensus DPS estimate is N/A, implying a prospective dividend yield of N/A.
Current consensus EPS estimate suggests the PER is 9.2.

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

CU6    CLARITY PHARMACEUTICALS LIMITED

Medical Equipment & Devices – Overnight Price: $1.90

Canaccord Genuity rates ((CU6)) as Buy (1) –

Canaccord Genuity lowered the target price on Clarity Pharmaceuticals after the company announced it will close SAR-BBN for prostrate cancer and Sartate for neuroblastoma trials, as it prioritises other assets.

The broker notes the first commercial-scale agreement has been signed with Nusano. The company’s manufacturing is based in the US, so there’s no tariff impact.

The broker’s current share valuation incorporates two programs — SAR-bisPSMA for prostate cancer diagnosis and therapy, and Sartate for neuroendocrine tumour diagnosis.

Buy. Target price $6.74.

This report was published on April 17, 2025.

Target price is $6.74 Current Price is $1.90 Difference: $4.84
If CU6 meets the Canaccord Genuity target it will return approximately 255% (excluding dividends, fees and charges).
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 minus 15.70 cents.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is minus 12.10.

Forecast for FY26:

Canaccord Genuity forecasts a full year FY26 dividend of 0.00 cents and EPS of minus 23.20 cents.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is minus 8.19.

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

CY5    CYGNUS METALS LIMITED

Gold & Silver – Overnight Price: $0.10

Canaccord Genuity rates ((CY5)) as Speculative Buy (1) –

Canaccord Genuity notes Cygnus Metals’ recent drilling at the Golden Eye target within the Chibougamau Cu-Au project in Canada intersected new high-grade gold.

The company plans to use the new drilling data along with historic data for 77 holes to complete an initial mineral resource estimate in the coming months.

Speculative Buy. Target unchanged at 30c.

This report was published on April 17, 2025.

Target price is $0.30 Current Price is $0.10 Difference: $0.204
If CY5 meets the Canaccord Genuity target it will return approximately 213% (excluding dividends, fees and charges).
The company’s fiscal year ends in December.

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

EVN    EVOLUTION MINING LIMITED

Gold & Silver – Overnight Price: $8.46

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

The highlight of Evolution Mining’s 3Q25 result was a record cash flow from strong commodity prices, but beyond this and operational performance by management, Jarden is struggling to find valuation support.

As a result, the target price is unchanged at $5.66, and the Underweight rating is retained.

The March quarter production was affected by a planned shutdown at Cowal, but the 179.8koz production still beat the broker’s and consensus forecasts. Capex was higher than expected, but cash flow was still strong, though the analyst expects a moderation in the June quarter.

Key risks is the capital-intensive nature, at least in the medium-term, which exposes to inflation risk.

This report was published on April 16, 2025.

Target price is $5.66 Current Price is $8.46 Difference: minus $2.8 (current price is over target).
If EVN meets the Jarden target it will return approximately minus 33% (excluding dividends, fees and charges – negative figures indicate an expected loss).
Current consensus price target is $7.10, suggesting downside of -20.7%(ex-dividends)
The company’s fiscal year ends in June.

Forecast for FY25:

Jarden forecasts a full year FY25 dividend of 17.00 cents and EPS of 44.00 cents.
At the last closing share price the estimated dividend yield is 2.01%.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 19.23.

How do these forecasts compare to market consensus projections?

Current consensus EPS estimate is 49.4, implying annual growth of 124.3%.
Current consensus DPS estimate is 19.9, implying a prospective dividend yield of 2.2%.
Current consensus EPS estimate suggests the PER is 18.1.

Forecast for FY26:

Jarden forecasts a full year FY26 dividend of 19.00 cents and EPS of 56.00 cents.
At the last closing share price the estimated dividend yield is 2.25%.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 15.11.

How do these forecasts compare to market consensus projections?

Current consensus EPS estimate is 66.5, implying annual growth of 34.6%.
Current consensus DPS estimate is 26.9, implying a prospective dividend yield of 3.0%.
Current consensus EPS estimate suggests the PER is 13.5.

Market Sentiment: -0.4
All consensus data are updated until yesterday. FNArena’s consensus calculations require a minimum of three sources

GMD    GENESIS MINERALS LIMITED

Gold & Silver – Overnight Price: $4.37

Canaccord Genuity rates ((GMD)) as Buy (1) –

Genesis Minerals’ 3Q25 production and cost were largely in line with Canaccord Genuity’s forecasts but beat consensus on both. Cash and bullion rose $99m during the quarter, leaving it with no debt and liquidity of $478m at end-March.

FY25 guidance was maintained, and the broker believes it implies a production beat in the June quarter.

Overall, the broker notes the balance sheet is well-positioned to pursue an accelerated growth strategy and bring forward FY29 production target of 325kozpa.

Buy. Target rises to $5.15 from $5.10.

This report was published on April 16, 2025.

Target price is $5.15 Current Price is $4.37 Difference: $0.78
If GMD meets the Canaccord Genuity target it will return approximately 18% (excluding dividends, fees and charges).
Current consensus price target is $4.20, suggesting downside of -4.3%(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 19.00 cents.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 23.00.

How do these forecasts compare to market consensus projections?

Current consensus EPS estimate is 20.0, implying annual growth of 158.4%.
Current consensus DPS estimate is N/A, implying a prospective dividend yield of N/A.
Current consensus EPS estimate suggests the PER is 21.9.

Forecast for FY26:

Canaccord Genuity forecasts a full year FY26 dividend of 0.00 cents and EPS of 39.00 cents.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 11.21.

How do these forecasts compare to market consensus projections?

Current consensus EPS estimate is 32.4, implying annual growth of 62.0%.
Current consensus DPS estimate is N/A, implying a prospective dividend yield of N/A.
Current consensus EPS estimate suggests the PER is 13.5.

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

HMC    HMC CAPITAL LIMITED

Wealth Management & Investments – Overnight Price: $4.57

Jarden rates ((HMC)) as Overweight (2) –

Jarden has lowered the profile for AUM growth for HMC Capital, noting the outlook for earnings and valuation depends on the ability to raise unlisted capital.

The base case scenario assumes $8bn of total acquisitions from 1H25-1H28, which resulted in the underlying FFO/share forecast declining -5.4% in FY25 and -23.7% in FY26.

The broker also highlighted the bull and base case scenarios where acquisitions rise by $18.75bn and $5.5bn during this period, and FFO/share forecast comes in at 33.1c and 18.3c in FY26, respectively, vs the base case of 25.3c.

Overweight. Target cut to $6.85 from $8.65.

This report was published on April 14, 2025.

Target price is $6.85 Current Price is $4.57 Difference: $2.28
If HMC meets the Jarden target it will return approximately 50% (excluding dividends, fees and charges).
Current consensus price target is $8.47, suggesting upside of 92.9%(ex-dividends)
The company’s fiscal year ends in June.

Forecast for FY25:

Jarden forecasts a full year FY25 dividend of 12.00 cents and EPS of 27.40 cents.
At the last closing share price the estimated dividend yield is 2.63%.
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 50.8, implying annual growth of 169.1%.
Current consensus DPS estimate is 12.0, implying a prospective dividend yield of 2.7%.
Current consensus EPS estimate suggests the PER is 8.6.

Forecast for FY26:

Jarden forecasts a full year FY26 dividend of 12.00 cents and EPS of 25.30 cents.
At the last closing share price the estimated dividend yield is 2.63%.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 18.06.

How do these forecasts compare to market consensus projections?

Current consensus EPS estimate is 39.5, implying annual growth of -22.2%.
Current consensus DPS estimate is 12.2, implying a prospective dividend yield of 2.8%.
Current consensus EPS estimate suggests the PER is 11.1.

Market Sentiment: 0.4
All consensus data are updated until yesterday. FNArena’s consensus calculations require a minimum of three sources

HRZ    HORIZON MINERALS LIMITED

Overnight Price: $0.06

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

Petra Capital has initiated coverage of Horizon Minerals with a Buy rating and target price of 12c.

The broker notes the company’s recent acquisition of Poseidon Nickel has created an opportunity for an aggressive exploration program to expand and improve confidence in its 1.8Moz gold resource. 

An initial five-year mine plan is being drawn to provide ore to the refurbished and converted Black Swan Mills, with production aimed for the March quarter of 2027. 

The broker estimates the company will generate around $65m cash over the coming year from its existing toll milling ore sale agreement to fund the development, with total capex estimated at $100m.

This report was published on April 16, 2025.

Target price is $0.12 Current Price is $0.06 Difference: $0.056
If HRZ meets the Petra Capital target it will return approximately 87% (excluding dividends, fees and charges).

Forecast for FY25:

Petra Capital forecasts a full year FY25 dividend of 0.00 cents and EPS of minus 0.50 cents.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is minus 12.80.

Forecast for FY26:

Petra Capital forecasts a full year FY26 dividend of 0.00 cents and EPS of 2.00 cents.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 3.20.

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

HUB    HUB24 LIMITED

Wealth Management & Investments – Overnight Price: $65.73

Jarden rates ((HUB)) as Upgrade to Neutral from Underweight (3) –

Jarden upgrades Hub24 to Neutral from Underweight with a lower target price of $63 from $66.65.

The company reported 3Q25 platform flows of $4,944m, which was above consensus by 4.3% and 8.5% higher than the broker’s estimate. ClearView Management contributed $1.3bn.

Adjusting for the contribution, the underlying flows grew 5.4%, which were also better than Jarden’s estimate.

Hub24 added 5,015 new advisers, up 2.6% on the December quarter and a new all-time high.

The analyst lifts FY25 EPS estimate by 2.7% and lowers FY26 by -8.4%.

This report was published on April 15, 2025.

Target price is $63.00 Current Price is $65.73 Difference: minus $2.73 (current price is over target).
If HUB meets the Jarden target it will return approximately minus 4% (excluding dividends, fees and charges – negative figures indicate an expected loss).
Current consensus price target is $71.67, suggesting upside of 10.1%(ex-dividends)
The company’s fiscal year ends in June.

Forecast for FY25:

Jarden forecasts a full year FY25 dividend of 56.40 cents and EPS of 114.60 cents.
At the last closing share price the estimated dividend yield is 0.86%.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 57.36.

How do these forecasts compare to market consensus projections?

Current consensus EPS estimate is 109.3, implying annual growth of 88.0%.
Current consensus DPS estimate is 52.3, implying a prospective dividend yield of 0.8%.
Current consensus EPS estimate suggests the PER is 59.6.

Forecast for FY26:

Jarden forecasts a full year FY26 dividend of 67.70 cents and EPS of 135.40 cents.
At the last closing share price the estimated dividend yield is 1.03%.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 48.55.

How do these forecasts compare to market consensus projections?

Current consensus EPS estimate is 134.1, implying annual growth of 22.7%.
Current consensus DPS estimate is 66.3, implying a prospective dividend yield of 1.0%.
Current consensus EPS estimate suggests the PER is 48.6.

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

IAG    INSURANCE AUSTRALIA GROUP LIMITED

Insurance – Overnight Price: $7.91

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

Goldman Sachs has updated the model for Insurance Australia Group for investment mark-to-market (MTM) impact for year-to-date vs December 2024.

The broker notes risk-free rates declined until March, and further into April, resulting in fixed-income MTM gain, which was broadly offset by liability movements and lower breakeven inflation.

The broker reduced peril costs for 2H25. FY25-26 EPS forecasts raised slightly. 

Neutral. Target lifted to $8.30 from $8.15.

This report was published on April 14, 2025.

Target price is $8.30 Current Price is $7.91 Difference: $0.39
If IAG meets the Goldman Sachs target it will return approximately 5% (excluding dividends, fees and charges).
Current consensus price target is $8.51, suggesting upside of 6.9%(ex-dividends)
The company’s fiscal year ends in June.

Forecast for FY25:

Goldman Sachs forecasts a full year FY25 dividend of 30.70 cents and EPS of 44.70 cents.
At the last closing share price the estimated dividend yield is 3.88%.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 17.70.

How do these forecasts compare to market consensus projections?

Current consensus EPS estimate is 45.2, implying annual growth of 21.1%.
Current consensus DPS estimate is 30.3, implying a prospective dividend yield of 3.8%.
Current consensus EPS estimate suggests the PER is 17.6.

Forecast for FY26:

Goldman Sachs forecasts a full year FY26 dividend of 31.50 cents and EPS of 42.00 cents.
At the last closing share price the estimated dividend yield is 3.98%.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 18.83.

How do these forecasts compare to market consensus projections?

Current consensus EPS estimate is 43.4, implying annual growth of -4.0%.
Current consensus DPS estimate is 31.1, implying a prospective dividend yield of 3.9%.
Current consensus EPS estimate suggests the PER is 18.3.

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

IPX    IPERIONX LIMITED

Industrial Metals – Overnight Price: $3.13

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

Canaccord Genuity has flagged upside risks to its earnings forecasts for Iperionx after the company confirmed it is on track for the commissioning of the Virginia titanium plant and the possibility of upside in nameplate capacity.

Additionally, the company stated it is in discussions with customers for product verticals, which the broker believes is a better market opportunity vs powder sales development. The broker also sees better pricing outcomes as a possibility of over US$220/kg vs its estimate of US$140/kg.

Speculative Buy. Target unchanged at $6.65.

This report was published on April 16, 2025.

Target price is $6.65 Current Price is $3.13 Difference: $3.52
If IPX meets the Canaccord Genuity target it will return approximately 112% (excluding dividends, fees and charges).
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 minus 6.00 cents.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is minus 52.17.

Forecast for FY26:

Canaccord Genuity forecasts a full year FY26 dividend of 0.00 cents and EPS of minus 4.00 cents.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is minus 78.25.

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

Petra Capital highlights Iperionx is not just on the verge of commercial production at its Titanium Metals Plant in Virginia, but has also flagged an increase in nameplate capacity beyond 125tpa. The announcement is expected in mid-2025 along with cost guidance.

The broker notes the company is engaged with eight commercial partners for a rapid path to production, and an announcement on a contract will likely be the next catalyst for the stock.

Buy. Target price $6.95.

This report was published on April 16, 2025.

Target price is $6.95 Current Price is $3.13 Difference: $3.82
If IPX meets the Petra Capital target it will return approximately 122% (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 2.30 cents.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is minus 136.09.

Forecast for FY26:

Petra Capital forecasts a full year FY26 dividend of 0.00 cents and EPS of 4.20 cents.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 74.52.

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

MEK    MEEKA METALS LIMITED

Gold & Silver – Overnight Price: $0.16

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

Following a site visit, Petra Capital confirms Meeka Metals remains on track for first gold production at the Murchison Gold Project by July 2025.

The analyst highlights strong progress at the Andy Well plant and St Anne’s North open pit, with commissioning to commence in June.

Petra Capital upgrades FY26 earnings forecast by 27% on a revised gold price profile and revised AUD/USD assumption.

The company is fully funded, unhedged, debt-free, and expected to deliver 46koz in FY26, rising to 61koz in FY27.

Buy rating retained. Target price raised to $0.25 from $0.19.

This report was published on April 17, 2025.

Target price is $0.25 Current Price is $0.16 Difference: $0.09
If MEK meets the Petra Capital target it will return approximately 56% (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 53.33.

Forecast for FY26:

Petra Capital forecasts a full year FY26 dividend of 0.00 cents and EPS of 5.40 cents.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 2.96.

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: $1.43

Canaccord Genuity rates ((PLS)) as Buy (1) –

Pilbara Minerals’ 3Q25 production was in line with Canaccord Genuity’s revised forecasts but missed consensus on cyclone impact and the ramp-up of the P1000 project.

Despite this, cash balance only fell -9% quarter-on-quarter to $1.1bn. The broker notes the company is focused on margin improvement with benefits from transitioning to the owner-operator model.

The company remains the broker’s top pick in the lithium space due to its strong balance sheet and cost focus.

Buy. Target unchanged at $2.70.

This report was published on April 17, 2025.

Target price is $2.70 Current Price is $1.43 Difference: $1.27
If PLS meets the Canaccord Genuity target it will return approximately 89% (excluding dividends, fees and charges).
Current consensus price target is $1.91, suggesting upside of 38.2%(ex-dividends)
The company’s fiscal year ends in June.

Forecast for FY25:

Canaccord Genuity forecasts a full year FY25 dividend of 2.00 cents and EPS of minus 21.00 cents.
At the last closing share price the estimated dividend yield is 1.40%.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is minus 6.81.

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.

Forecast for FY26:

Canaccord Genuity forecasts a full year FY26 dividend of 2.00 cents and EPS of 4.00 cents.
At the last closing share price the estimated dividend yield is 1.40%.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 35.75.

How do these forecasts compare to market consensus projections?

Current consensus EPS estimate is 2.6, implying annual growth of N/A.
Current consensus DPS estimate is 0.3, implying a prospective dividend yield of 0.2%.
Current consensus EPS estimate suggests the PER is 53.1.

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

PNI    PINNACLE INVESTMENT MANAGEMENT GROUP LIMITED

Wealth Management & Investments – Overnight Price: $16.18

Jarden rates ((PNI)) as Overweight (2) –

Pinnacle Investment Management’s Life Cycle business finished the non-solicit clause with Royal London in January, leaving it free to pursue AUM previously managed under Royal London.

Jarden estimates the total funds it would potentially win is about $15-17bn vs Pinnacle’s total FUM of $155bn.

So far this year, Life Cycle’s AUM increased to over $2bn from $1.0bn at the end of December, and the broker will now monitor the data closely to get a good sense of fund flows.

Overweight. Target unchanged at $22.05.

This report was published on April 16, 2025.

Target price is $22.05 Current Price is $16.18 Difference: $5.87
If PNI meets the Jarden target it will return approximately 36% (excluding dividends, fees and charges).
Current consensus price target is $23.19, suggesting upside of 46.9%(ex-dividends)
The company’s fiscal year ends in June.

Forecast for FY25:

Jarden forecasts a full year FY25 dividend of 57.70 cents and EPS of 61.80 cents.
At the last closing share price the estimated dividend yield is 3.57%.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 26.18.

How do these forecasts compare to market consensus projections?

Current consensus EPS estimate is 64.9, implying annual growth of 41.7%.
Current consensus DPS estimate is 57.3, implying a prospective dividend yield of 3.6%.
Current consensus EPS estimate suggests the PER is 24.3.

Forecast for FY26:

Jarden forecasts a full year FY26 dividend of 60.40 cents and EPS of 62.40 cents.
At the last closing share price the estimated dividend yield is 3.73%.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 25.93.

How do these forecasts compare to market consensus projections?

Current consensus EPS estimate is 73.6, implying annual growth of 13.4%.
Current consensus DPS estimate is 64.9, implying a prospective dividend yield of 4.1%.
Current consensus EPS estimate suggests the PER is 21.5.

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

PPT    PERPETUAL LIMITED

Wealth Management & Investments – Overnight Price: $15.53

Jarden rates ((PPT)) as Overweight (2) –

Jarden notes the March quarter update from Perpetual, where funds under management were below the broker’s estimate by -0.5% due to softer net inflows, which were slightly offset by fund performance.

Net outflows were worse than anticipated at -$8.9bn, including the loss of a -$2.5bn short-dated cash mandate and net outflows of -$6.1bn in American equities.

Corporate Trust funds under administration came in line with Jarden’s expectations, as did Wealth Management.

Overweight. Target cut to $22.25 from $22.75. The broker lowers FY25 EPS by -0.6% and FY26 by -5.5%.

This report was published on April 16, 2025.

Target price is $22.25 Current Price is $15.53 Difference: $6.72
If PPT meets the Jarden target it will return approximately 43% (excluding dividends, fees and charges).
Current consensus price target is $20.36, suggesting upside of 34.6%(ex-dividends)
The company’s fiscal year ends in June.

Forecast for FY25:

Jarden forecasts a full year FY25 dividend of 110.80 cents and EPS of 159.00 cents.
At the last closing share price the estimated dividend yield is 7.13%.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 9.77.

How do these forecasts compare to market consensus projections?

Current consensus EPS estimate is 179.6, implying annual growth of N/A.
Current consensus DPS estimate is 123.2, implying a prospective dividend yield of 8.1%.
Current consensus EPS estimate suggests the PER is 8.4.

Forecast for FY26:

Jarden forecasts a full year FY26 dividend of 113.70 cents and EPS of 150.20 cents.
At the last closing share price the estimated dividend yield is 7.32%.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 10.34.

How do these forecasts compare to market consensus projections?

Current consensus EPS estimate is 173.7, implying annual growth of -3.3%.
Current consensus DPS estimate is 120.6, implying a prospective dividend yield of 8.0%.
Current consensus EPS estimate suggests the PER is 8.7.

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

QBE    QBE INSURANCE GROUP LIMITED

Insurance – Overnight Price: $21.32

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

Goldman Sachs has updated the model for QBE Insurance for investment mark-to-market (MTM) impact for year-to-date vs December 2024.

The broker notes risk-free rates declined until March, and further into April, resulting in fixed-income MTM gain, which was broadly offset by liability movements and lower breakeven inflation.

FY25-26 EPS forecasts trimmed. Buy. No change to $25 target price.

This report was published on April 14, 2025.

Target price is $25.00 Current Price is $21.32 Difference: $3.68
If QBE meets the Goldman Sachs target it will return approximately 17% (excluding dividends, fees and charges).
Current consensus price target is $23.35, suggesting upside of 9.9%(ex-dividends)
The company’s fiscal year ends in December.

Forecast for FY25:

Goldman Sachs forecasts a full year FY25 dividend of 89.10 cents and EPS of 175.45 cents.
At the last closing share price the estimated dividend yield is 4.18%.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 12.15.

How do these forecasts compare to market consensus projections?

Current consensus EPS estimate is 181.4, implying annual growth of N/A.
Current consensus DPS estimate is 89.2, implying a prospective dividend yield of 4.2%.
Current consensus EPS estimate suggests the PER is 11.7.

Forecast for FY26:

Goldman Sachs forecasts a full year FY26 dividend of 97.70 cents and EPS of 197.42 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 10.80.

How do these forecasts compare to market consensus projections?

Current consensus EPS estimate is 196.7, implying annual growth of 8.4%.
Current consensus DPS estimate is 97.2, implying a prospective dividend yield of 4.6%.
Current consensus EPS estimate suggests the PER is 10.8.

This company reports in USD. All estimates have been converted into AUD by FNArena at present FX values.
Market Sentiment: 0.7
All consensus data are updated until yesterday. FNArena’s consensus calculations require a minimum of three sources

RMD    RESMED INC

Medical Equipment & Devices – Overnight Price: $33.61

Jarden rates ((RMD)) as Overweight (2) –

Ahead of ResMed’s 3Q25 earnings report, Jarden lowers the target price to $39.97 from $41.48 and retains an Overweight rating.

The analyst is forecasting non-GAAP net profit after tax to rise by 15.4% to $362.9m, against consensus of a rise of 12.4%.

The market is expected to focus on the gross margin, which disappointed in the previous quarter due to forex headwinds of around -30bps.

Jarden forecasts the gross margin to remain flat at 59.2% on the first quarter, although there is possible upside due to the EUR:USD strength.

This report was published on April 15, 2025.

Target price is $39.97 Current Price is $33.61 Difference: $6.36
If RMD meets the Jarden target it will return approximately 19% (excluding dividends, fees and charges).
Current consensus price target is $44.38, suggesting upside of 35.0%(ex-dividends)
The company’s fiscal year ends in June.

Forecast for FY25:

Jarden forecasts a full year FY25 dividend of 35.95 cents and EPS of 149.64 cents.
At the last closing share price the estimated dividend yield is 1.07%.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 22.46.

How do these forecasts compare to market consensus projections?

Current consensus EPS estimate is 147.3, implying annual growth of N/A.
Current consensus DPS estimate is 33.8, implying a prospective dividend yield of 1.0%.
Current consensus EPS estimate suggests the PER is 22.3.

Forecast for FY26:

Jarden forecasts a full year FY26 dividend of 48.70 cents and EPS of 173.15 cents.
At the last closing share price the estimated dividend yield is 1.45%.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 19.41.

How do these forecasts compare to market consensus projections?

Current consensus EPS estimate is 161.8, implying annual growth of 9.8%.
Current consensus DPS estimate is 36.6, implying a prospective dividend yield of 1.1%.
Current consensus EPS estimate suggests the PER is 20.3.

This company reports in USD. 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

S32    SOUTH32 LIMITED

Mining – Overnight Price: $2.69

Canaccord Genuity rates ((S32)) as Sell (5) –

Canaccord Genuity notes March quarter production was broadly in line across aluminium and alumina, though South32 missed expectations at Cannington and Sierra Gorda.

Lead, zinc, and silver volumes were materially below forecasts, with FY25 Cannington production guidance cut by -10% due to delayed access to high-grade stopes and weather-related disruptions.

Cost guidance for Cannington rises to US$195/t from US$175/t.

The broker highlights ongoing operational inconsistency at Cannington as the mine nears end of life.

Sell rating maintained. Target price unchanged at $2.50. No updates to financial forecasts.

This report was published on April 17, 2025.

Target price is $2.50 Current Price is $2.69 Difference: minus $0.19 (current price is over target).
If S32 meets the Canaccord Genuity target it will return approximately minus 7% (excluding dividends, fees and charges – negative figures indicate an expected loss).
Current consensus price target is $3.84, suggesting upside of 48.3%(ex-dividends)
The company’s fiscal year ends in June.

Forecast for FY25:

Canaccord Genuity forecasts a full year FY25 dividend of 6.55 cents and EPS of 14.21 cents.
At the last closing share price the estimated dividend yield is 2.43%.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 18.93.

How do these forecasts compare to market consensus projections?

Current consensus EPS estimate is 29.2, implying annual growth of N/A.
Current consensus DPS estimate is 11.5, implying a prospective dividend yield of 4.4%.
Current consensus EPS estimate suggests the PER is 8.9.

Forecast for FY26:

Canaccord Genuity forecasts a full year FY26 dividend of 5.42 cents and EPS of 12.05 cents.
At the last closing share price the estimated dividend yield is 2.02%.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 22.33.

How do these forecasts compare to market consensus projections?

Current consensus EPS estimate is 38.1, implying annual growth of 30.5%.
Current consensus DPS estimate is 17.2, implying a prospective dividend yield of 6.6%.
Current consensus EPS estimate suggests the PER is 6.8.

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

STK    STRICKLAND METALS LIMITED

Mining – Overnight Price: $0.10

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

Zijin Mining made a strategic investment in Strickland Metals with $5m for a 2.4% stake at market price.

Canaccord Genuity believes Zijin’s backing is a validation of the company’s exploration work in Serbia. 

Speculative Buy. Target unchanged at 19c, with the broker reiterating the company is one of its top picks in the exploration arena.

This report was published on April 17, 2025.

Target price is $0.19 Current Price is $0.10 Difference: $0.095
If STK meets the Canaccord Genuity target it will return approximately 100% (excluding dividends, fees and charges).
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 0.00 cents.

Forecast for FY26:

Canaccord Genuity forecasts a full year FY26 dividend of 0.00 cents and EPS of 0.00 cents.

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

SUN    SUNCORP GROUP LIMITED

Insurance – Overnight Price: $19.27

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

Goldman Sachs has updated the model for Suncorp Group for investment mark-to-market (MTM) impact for year-to-date vs December 2024.

The broker notes risk-free rates declined until March, and further into April, resulting in fixed-income MTM gain, which was broadly offset by liability movements and lower breakeven inflation.

Minor revision to FY25 EPS forecast. Buy and $22 target price unchanged.

This report was published on April 14, 2025.

Target price is $22.00 Current Price is $19.27 Difference: $2.73
If SUN meets the Goldman Sachs target it will return approximately 14% (excluding dividends, fees and charges).
Current consensus price target is $20.91, suggesting upside of 8.1%(ex-dividends)
The company’s fiscal year ends in June.

Forecast for FY25:

Goldman Sachs forecasts a full year FY25 dividend of 78.00 cents and EPS of 110.00 cents.
At the last closing share price the estimated dividend yield is 4.05%.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 17.52.

How do these forecasts compare to market consensus projections?

Current consensus EPS estimate is 117.3, implying annual growth of 5.8%.
Current consensus DPS estimate is 95.1, implying a prospective dividend yield of 4.9%.
Current consensus EPS estimate suggests the PER is 16.5.

Forecast for FY26:

Goldman Sachs forecasts a full year FY26 dividend of 83.00 cents and EPS of 117.00 cents.
At the last closing share price the estimated dividend yield is 4.31%.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 16.47.

How do these forecasts compare to market consensus projections?

Current consensus EPS estimate is 117.8, implying annual growth of 0.4%.
Current consensus DPS estimate is 85.2, implying a prospective dividend yield of 4.4%.
Current consensus EPS estimate suggests the PER is 16.4.

Market Sentiment: 0.4
All consensus data are updated until yesterday. FNArena’s consensus calculations require a minimum of three sources

SVL    SILVER MINES LIMITED

Gold & Silver – Overnight Price: $0.09

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

Petra Capital details Silver Mines submitted an updated development application (DA) with the NSW Department of Planning and requested the Planning Secretary determine whether or not the transmission line to power the Bowdens Project will form part of a single proposed development.

The broker highlights the outcome of the determination will allow the company to progress with the re-determination of the DA for the Bowdens Project.

Buy rating retained. Target price 17c.

This report was published on April 17, 2025.

Target price is $0.17 Current Price is $0.09 Difference: $0.076
If SVL meets the Petra Capital target it will return approximately 81% (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 0.60 cents.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is minus 15.67.

Forecast for FY26:

Petra Capital forecasts a full year FY26 dividend of 0.00 cents and EPS of 1.50 cents.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 6.27.

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

TWE    TREASURY WINE ESTATES LIMITED

Food, Beverages & Tobacco – Overnight Price: $8.65

Jarden rates ((TWE)) as Buy (1) –

Jarden revised forecasts for Treasury Wine Estates given evidence of a decline in demand for wine globally due to uncertainty created by US tariffs. The lower overall demand is partly offset by expectations of continued growth in luxury wine, with Penfolds expected to become a larger portion of the business.

The broker cut FY25-26 EPS forecasts by -2%, after lowering earnings before interest and tax forecast for FY25 to $769m from $911m, and below the company’s guidance of $780m.

Buy. Target unchanged at $13.90.

This report was published on April 14, 2025.

Target price is $13.90 Current Price is $8.65 Difference: $5.25
If TWE meets the Jarden target it will return approximately 61% (excluding dividends, fees and charges).
Current consensus price target is $12.42, suggesting upside of 44.3%(ex-dividends)
The company’s fiscal year ends in June.

Forecast for FY25:

Jarden forecasts a full year FY25 dividend of 38.00 cents and EPS of 58.20 cents.
At the last closing share price the estimated dividend yield is 4.39%.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 14.86.

How do these forecasts compare to market consensus projections?

Current consensus EPS estimate is 58.6, implying annual growth of 361.4%.
Current consensus DPS estimate is 39.8, implying a prospective dividend yield of 4.6%.
Current consensus EPS estimate suggests the PER is 14.7.

Forecast for FY26:

Jarden forecasts a full year FY26 dividend of 50.00 cents and EPS of 69.50 cents.
At the last closing share price the estimated dividend yield is 5.78%.
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 70.5, implying annual growth of 20.3%.
Current consensus DPS estimate is 46.9, implying a prospective dividend yield of 5.4%.
Current consensus EPS estimate suggests the PER is 12.2.

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

VEA    VIVA ENERGY GROUP LIMITED

Crude Oil – Overnight Price: $1.59

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

Following Viva Energy’ 1Q25 result, Goldman Sachs revised FY25 EBITDA by 1% after factoring in higher refining margins in the June quarter. The company revealed lower global oil prices in the tariffs backdrop could support retail fuel margins in the short term because of lagged pass-through.

The company reiterated EBITDA guidance for $270-330m in 1H and expectations of improvement in 2H. The broker is forecasting $303m in 1H and $400m in 2H.

Buy. Target unchanged at $3.

This report was published on April 14, 2025.

Target price is $3.00 Current Price is $1.59 Difference: $1.41
If VEA meets the Goldman Sachs target it will return approximately 89% (excluding dividends, fees and charges).
Current consensus price target is $2.51, suggesting upside of 58.9%(ex-dividends)
The company’s fiscal year ends in December.

Forecast for FY25:

Goldman Sachs forecasts a full year FY25 dividend of 7.00 cents and EPS of 8.00 cents.
At the last closing share price the estimated dividend yield is 4.40%.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 19.88.

How do these forecasts compare to market consensus projections?

Current consensus EPS estimate is 10.3, implying annual growth of N/A.
Current consensus DPS estimate is 5.3, implying a prospective dividend yield of 3.4%.
Current consensus EPS estimate suggests the PER is 15.3.

Forecast for FY26:

Goldman Sachs forecasts a full year FY26 dividend of 8.00 cents and EPS of 16.00 cents.
At the last closing share price the estimated dividend yield is 5.03%.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 9.94.

How do these forecasts compare to market consensus projections?

Current consensus EPS estimate is 20.0, implying annual growth of 94.2%.
Current consensus DPS estimate is 11.0, implying a prospective dividend yield of 7.0%.
Current consensus EPS estimate suggests the PER is 7.9.

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

WAF    WEST AFRICAN RESOURCES LIMITED

Gold & Silver – Overnight Price: $2.42

Canaccord Genuity rates ((WAF)) as Buy (1) –

West African Resources’ March quarter production of 50koz at US$1,262/oz all-in-sustaining-costs came in above Canaccord Genuity’s estimates by 1% and 10% respectively, with solid output from both open pit and underground operations at Sanbrado.

Operating cash flow reached US$46m, offset by -US$70m invested in Kiaka, resulting in a net debt position of US$36m.

Management’s FY25 production guidance of 325koz is unchanged, with Kiaka expected to contribute 100koz in 2H 2025 at an estimated US$1,954/oz all-in-sustaining-costs.

The broker lowers FY25 earnings (EBITDA) by -4% due to timing of Kiaka capital, while Sanbrado’s all-in-sustaining-costs are revised down by 2%.

Buy rating maintained. Target price raised to $4.55 from $4.50.

This report was published on April 17, 2025.

Target price is $4.55 Current Price is $2.42 Difference: $2.13
If WAF meets the Canaccord Genuity target it will return approximately 88% (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 38.00 cents.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 6.37.

Forecast for FY26:

Canaccord Genuity forecasts a full year FY26 dividend of 14.00 cents and EPS of 73.00 cents.
At the last closing share price the estimated dividend yield is 5.79%.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 3.32.

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

WDS    WOODSIDE ENERGY GROUP LIMITED

NatGas – Overnight Price: $20.07

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

Goldman Sachs notes the significant volatility across energy stocks on global tariff-related news and the fall in Brent crude price below US$60/bbl for the first time since 2021.

The analysts initially trimmed global oil demand forecasts and consequently cut Brent forecast to US$66/bbl in 2025 and US$58/bbl in 2026. This was revised on news of a 90-day pause to elevated US tariffs. with a forecast of US$65/bbl for 2025 and US$70/bbl for 2026.

The broker marked-to-market commodity prices and forex, lowered near-term oil price and refining margin forecasts, and rolled forward valuation. This resulted in a -1-4% downgrade in target price for most energy stocks.

For Woodside Energy, the broker’s production forecast for the March quarter is in line with the consensus.

Neutral. Target cut to $23.90 from $24.50.

This report was published on April 10, 2025.

Target price is $23.90 Current Price is $20.07 Difference: $3.83
If WDS meets the Goldman Sachs target it will return approximately 19% (excluding dividends, fees and charges).
Current consensus price target is $25.27, suggesting upside of 27.5%(ex-dividends)
The company’s fiscal year ends in December.

Forecast for FY25:

Goldman Sachs forecasts a full year FY25 dividend of 67.60 cents and EPS of 133.66 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 15.02.

How do these forecasts compare to market consensus projections?

Current consensus EPS estimate is 154.9, implying annual growth of N/A.
Current consensus DPS estimate is 128.9, implying a prospective dividend yield of 6.5%.
Current consensus EPS estimate suggests the PER is 12.8.

Forecast for FY26:

Goldman Sachs forecasts a full year FY26 dividend of 36.87 cents and EPS of 72.21 cents.
At the last closing share price the estimated dividend yield is 1.84%.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 27.79.

How do these forecasts compare to market consensus projections?

Current consensus EPS estimate is 99.3, implying annual growth of -35.9%.
Current consensus DPS estimate is 75.8, implying a prospective dividend yield of 3.8%.
Current consensus EPS estimate suggests the PER is 20.0.

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

WIA    WIA GOLD LIMITED

Gold & Silver – Overnight Price: $0.19

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

Petra Capital notes WIA Gold reported strong assay results from the ongoing drill program at its Kokoseb Gold Project in Namibia.

The result suggests an upgrade of Inferred to Indicated Resource is likely, along with an increase in the overall resource. The broker is estimating 1Moz addition to the Indicated category, and an increase of 2.5-3.0Moz total resource.

Resource update is due in mid-2025, and the maiden scoping study is expected in the September quarter.

Buy. Target price 30c.

This report was published on April 16, 2025.

Target price is $0.30 Current Price is $0.19 Difference: $0.11
If WIA meets the Petra Capital target it will return approximately 58% (excluding dividends, fees and charges).
The company’s fiscal year ends in June.

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

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