Daily Market Reports | Apr 30 2025
This story features AIC MINES LIMITED, and other companies. For more info SHARE ANALYSIS: A1M
The company is included in ALL-ORDS
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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 ALK ALL AMP (2) ANZ BGL BHP BMN BXB CBA CGF (2) D2O DMP FLT GOR (2) GTK HGO LTR (3) LYC (2) MQG NAB NEM PDI PDN PLS (2) PNR PRU QBE RMD (3) RSG RXL S32 (2) SPK STO (2) STX THL VAU WBC WDS
A1M AIC MINES LIMITED
Gold & Silver – Overnight Price: $0.35
Moelis rates ((A1M)) as Buy (1) –
Moelis notes AIC Mines reported March quarter copper production of 3.0kt, in line with expectations, though sales of 2.3kt were impacted by weather-related shipment delays, resulting in a zero net mine cash flow and a cash balance of $30.9m.
The analyst highlights management retains FY25 guidance, with delayed shipments largely dispatched post-quarter and expected to support June results.
All-in-sustaining-costs rose to $5.49/lb, and investor focus may turn to cash management given upcoming capital requirements for the Jericho development and plant expansion.
Moelis points to near-mine drilling results highlighting strong copper-gold intercepts, supporting potential resource growth. Buy rating retained with a $0.72 target price.
This report was published on April 29, 2025.
Target price is $0.72 Current Price is $0.35 Difference: $0.37
If A1M meets the Moelis target it will return approximately 106% (excluding dividends, fees and charges).
Current consensus price target is $0.79, suggesting upside of 133.3%(ex-dividends)
The company’s fiscal year ends in June.
Forecast for FY25:
Moelis forecasts a full year FY25 dividend of 0.00 cents.
How do these forecasts compare to market consensus projections?
Current consensus EPS estimate is 3.9, implying annual growth of 139.3%.
Current consensus DPS estimate is N/A, implying a prospective dividend yield of N/A.
Current consensus EPS estimate suggests the PER is 8.7.
Forecast for FY26:
Moelis forecasts a full year FY26 dividend of 0.00 cents.
How do these forecasts compare to market consensus projections?
Current consensus EPS estimate is 6.2, implying annual growth of 59.0%.
Current consensus DPS estimate is N/A, implying a prospective dividend yield of N/A.
Current consensus EPS estimate suggests the PER is 5.5.
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: $0.84
Moelis rates ((ALK)) as Buy (1) –
Alkane Resources reported March quarter production of 17.7koz, slightly below Moelis’ estimate of 18.2koz, with all-in-sustaining-costs of $2,770/oz and a closing cash and bullion balance of $50.5m.
The analyst observes management reiterated FY25 guidance of 7080koz production at $2,400$2,600/oz with production expected at the lower end.
Operational improvements at Tomingley, including the Roswell Underground and paste plant, are driving underlying cash generation.
The recently announced merger with Mandalay Resources is expected to complete mid-2025, shifting the strategic focus. Buy rating and $1.00 target price are maintained.
This report was published on April 29, 2025.
Target price is $1.00 Current Price is $0.84 Difference: $0.155
If ALK meets the Moelis target it will return approximately 18% (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
ALL ARISTOCRAT LEISURE LIMITED
Gaming – Overnight Price: $65.62
Jarden rates ((ALL)) as Upgrade to Overweight from Neutral (2) –
Jarden upgrades its rating for Aristocrat Leisure to Overweight from Neutral following recent share price underperformance. The target remains at $68.
The broker highlights strong recurring revenues, robust free cash flow reinvestment, ongoing market share gains, and growth in direct-to-consumer digital sales as key positives. A resilient performance is expected even in a weaker US consumer environment.
Risks include a US economic slowdown, gaming market volatility, executive turnover, and the potential for expensive or poorly integrated M&A, with Jarden expecting the $750m buy-back to support the share price if no major acquisitions eventuate.
This report was published on April 22, 2025.
Target price is $68.00 Current Price is $65.62 Difference: $2.38
If ALL meets the Jarden target it will return approximately 4% (excluding dividends, fees and charges).
Current consensus price target is $76.93, suggesting upside of 16.4%(ex-dividends)
The company’s fiscal year ends in September.
Forecast for FY25:
Jarden forecasts a full year FY25 dividend of 90.00 cents and EPS of 269.60 cents.
At the last closing share price the estimated dividend yield is 1.37%.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 24.34.How do these forecasts compare to market consensus projections?
Current consensus EPS estimate is 262.8, implying annual growth of 28.3%.
Current consensus DPS estimate is 89.8, implying a prospective dividend yield of 1.4%.
Current consensus EPS estimate suggests the PER is 25.2.
Forecast for FY26:
Jarden forecasts a full year FY26 dividend of 100.00 cents and EPS of 298.60 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 21.98.How do these forecasts compare to market consensus projections?
Current consensus EPS estimate is 292.5, implying annual growth of 11.3%.
Current consensus DPS estimate is 99.8, implying a prospective dividend yield of 1.5%.
Current consensus EPS estimate suggests the PER is 22.6.
Market Sentiment: 0.9
All consensus data are updated until yesterday. FNArena’s consensus calculations require a minimum of three sources
AMP AMP LIMITED
Wealth Management & Investments – Overnight Price: $1.28
Goldman Sachs rates ((AMP)) as Upgrade to Buy from Neutral (1) –
Goldman Sachs notes AMP’s 1Q25 update pointed to a stable flows trend, with Platform net flow of $250m in line with the $200-300m seen in recent quarters.
Net outflows in Superannuation & Investments improved to -$108m vs -$371m in 1Q24, with AMP stating it is taking steps to improving retention. Loan growth at AMP Bank was weak, but there’s more focus on maintaining margin over volume.
Upgrade to Buy from Neutral. Target $1.48.
This report was published on April 20, 2025.
Target price is $1.48 Current Price is $1.28 Difference: $0.195
If AMP meets the Goldman Sachs target it will return approximately 15% (excluding dividends, fees and charges).
Current consensus price target is $1.43, suggesting upside of 10.5%(ex-dividends)
The company’s fiscal year ends in December.
Forecast for FY25:
Goldman Sachs forecasts a full year FY25 dividend of 4.00 cents and EPS of 10.00 cents.
At the last closing share price the estimated dividend yield is 3.11%.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 12.85.How do these forecasts compare to market consensus projections?
Current consensus EPS estimate is 10.5, implying annual growth of 48.1%.
Current consensus DPS estimate is 4.0, implying a prospective dividend yield of 3.1%.
Current consensus EPS estimate suggests the PER is 12.3.
Forecast for FY26:
Goldman Sachs forecasts a full year FY26 dividend of 4.00 cents and EPS of 11.00 cents.
At the last closing share price the estimated dividend yield is 3.11%.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 11.68.How do these forecasts compare to market consensus projections?
Current consensus EPS estimate is 10.9, implying annual growth of 3.8%.
Current consensus DPS estimate is 4.5, implying a prospective dividend yield of 3.5%.
Current consensus EPS estimate suggests the PER is 11.8.
Market Sentiment: 0.6
All consensus data are updated until yesterday. FNArena’s consensus calculations require a minimum of three sources
Jarden rates ((AMP)) as Neutral (3) –
AMP’s March quarter update was broadly in line with Jarden’s expectations, with net flows turning positive in Australian Wealth Management due to ongoing momentum in Platforms, although Super/Investments remained in net outflow.
Equity market weakness since last December has led to significant earnings downgrades, highlighting inherent market exposure, point out the analysts.
AMP Bank reported flat loan growth and steady margins, with further improvement likely dependent on the rollout of the new digital bank, suggests the broker.
Jarden lowers its FY25-FY27 underlying EPS forecasts by between -6% to -10% and notes capital management initiatives are unlikely to support the near-term outlook.
The broker reduces the target price to $1.20 from $1.40 and maintains a Neutral rating.
This report was published on April 22, 2025.
Target price is $1.20 Current Price is $1.28 Difference: minus $0.085 (current price is over target).
If AMP meets the Jarden target it will return approximately minus 7% (excluding dividends, fees and charges – negative figures indicate an expected loss).
Current consensus price target is $1.43, suggesting upside of 10.5%(ex-dividends)
The company’s fiscal year ends in December.
Forecast for FY25:
Jarden forecasts a full year FY25 dividend of 4.00 cents and EPS of 10.70 cents.
At the last closing share price the estimated dividend yield is 3.11%.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 12.01.How do these forecasts compare to market consensus projections?
Current consensus EPS estimate is 10.5, implying annual growth of 48.1%.
Current consensus DPS estimate is 4.0, implying a prospective dividend yield of 3.1%.
Current consensus EPS estimate suggests the PER is 12.3.
Forecast for FY26:
Jarden forecasts a full year FY26 dividend of 4.50 cents and EPS of 10.70 cents.
At the last closing share price the estimated dividend yield is 3.50%.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 12.01.How do these forecasts compare to market consensus projections?
Current consensus EPS estimate is 10.9, implying annual growth of 3.8%.
Current consensus DPS estimate is 4.5, implying a prospective dividend yield of 3.5%.
Current consensus EPS estimate suggests the PER is 11.8.
Market Sentiment: 0.6
All consensus data are updated until yesterday. FNArena’s consensus calculations require a minimum of three sources
ANZ ANZ GROUP HOLDINGS LIMITED
Banks – Overnight Price: $29.55
Jarden rates ((ANZ)) as Overweight (2) –
Ahead of upcoming banks’ half-yearly results, Jarden notes fundamentals have been set aside in favour of flows and passive in recent weeks, with CommBank ((CBA)) emerging as the most loved stock.
The broker expects net margin compression across all majors except ANZ Bank, due to shifts in deposit mix and lending competition. Buybacks are also seen as less likely.
The broker expects ANZ Bank to report a 14% h/h increase in net profit in 1H25 to $3.61bn, and is 2% ahead of consensus. Net interest margin to increase 1bp on the full inclusion of Suncorp Bank ((SUN)).
The broker will be looking for updates on ANZ Plus, non-financial risks and growth outlook for insto.
Overweight. Target unchanged at $30.50.
This report was published on April 23, 2025.
Target price is $30.50 Current Price is $29.55 Difference: $0.95
If ANZ meets the Jarden target it will return approximately 3% (excluding dividends, fees and charges).
Current consensus price target is $28.33, suggesting downside of -4.8%(ex-dividends)
The company’s fiscal year ends in September.
Forecast for FY25:
Jarden forecasts a full year FY25 dividend of 168.00 cents and EPS of 235.20 cents.
At the last closing share price the estimated dividend yield is 5.69%.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 12.56.How do these forecasts compare to market consensus projections?
Current consensus EPS estimate is 232.6, implying annual growth of 6.7%.
Current consensus DPS estimate is 166.5, implying a prospective dividend yield of 5.6%.
Current consensus EPS estimate suggests the PER is 12.8.
Forecast for FY26:
Jarden forecasts a full year FY26 dividend of 171.00 cents and EPS of 240.10 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 12.31.How do these forecasts compare to market consensus projections?
Current consensus EPS estimate is 230.0, implying annual growth of -1.1%.
Current consensus DPS estimate is 168.8, implying a prospective dividend yield of 5.7%.
Current consensus EPS estimate suggests the PER is 12.9.
Market Sentiment: 0.0
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: $0.91
Moelis rates ((BGL)) as Hold (3) –
Moelis observes Bellevue Gold reported March quarter production of 25.1koz, in line with pre-reported figures but below previous expectations, with all-in-sustaining-costs rising to $3,124/oz due to weaker production and higher mining costs.
Management lowered FY25 guidance to 129134koz at $2,425$2,525/oz, with FY26 and longer-term forecasts also revised down, reflecting a more conservative production trajectory, the broker highlights.
The company raised approximately $156m to strengthen its balance sheet and close out nine months of hedging after triggering a lender review under its project finance facility.
Cash and gold at quarter-end totalled $49m, and while some cost relief is expected from hedge closure, the analyst sees sustainable grade improvement as key to restoring financial performance. Hold rating retained with a $0.85 target price.
This report was published on April 29, 2025.
Target price is $0.85 Current Price is $0.91 Difference: minus $0.06 (current price is over target).
If BGL meets the Moelis target it will return approximately minus 7% (excluding dividends, fees and charges – negative figures indicate an expected loss).
Current consensus price target is $1.33, suggesting upside of 44.0%(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 6.48 cents.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 14.04.How do these forecasts compare to market consensus projections?
Current consensus EPS estimate is 4.3, implying annual growth of -34.0%.
Current consensus DPS estimate is N/A, implying a prospective dividend yield of N/A.
Current consensus EPS estimate suggests the PER is 21.4.
Forecast for FY26:
Moelis forecasts a full year FY26 dividend of 0.00 cents and EPS of 2.72 cents.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 33.46.How do these forecasts compare to market consensus projections?
Current consensus EPS estimate is 10.1, implying annual growth of 134.9%.
Current consensus DPS estimate is N/A, implying a prospective dividend yield of N/A.
Current consensus EPS estimate suggests the PER is 9.1.
Market Sentiment: 0.8
All consensus data are updated until yesterday. FNArena’s consensus calculations require a minimum of three sources
BHP BHP GROUP LIMITED
Bulks – Overnight Price: $38.19
Goldman Sachs rates ((BHP)) as Buy (1) –
Goldman Sachs highlights BHP Group reported a solid 3Q25, with stronger copper production at Escondida and slightly better iron ore and met coal volumes despite heavy rains.
The analyst observes the re-sequencing of concentrator projects at Escondida, expected to offset the previously forecast FY30 production dip, lifting copper production targets to 9001,000ktpa across FY27FY31.
FY25 production guidance remains unchanged though met coal unit costs are expected to rise to US$128US$133/t, and the production range is unlikely to reach its upper end.
Goldman Sachs tweaks FY25FY27 earnings (EBITDA) forecasts 1%, -1% and -2%, respectively.
Buy rating retained with a $45.10 target price.
This report was published on April 17, 2025.
Target price is $45.10 Current Price is $38.19 Difference: $6.91
If BHP meets the Goldman Sachs target it will return approximately 18% (excluding dividends, fees and charges).
Current consensus price target is $42.87, suggesting upside of 12.4%(ex-dividends)
The company’s fiscal year ends in June.
Forecast for FY25:
Goldman Sachs forecasts a full year FY25 dividend of 153.68 cents and EPS of 307.36 cents.
At the last closing share price the estimated dividend yield is 4.02%.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 12.43.How do these forecasts compare to market consensus projections?
Current consensus EPS estimate is 304.7, implying annual growth of N/A.
Current consensus DPS estimate is 155.8, implying a prospective dividend yield of 4.1%.
Current consensus EPS estimate suggests the PER is 12.5.
Forecast for FY26:
Goldman Sachs forecasts a full year FY26 dividend of 142.92 cents and EPS of 285.85 cents.
At the last closing share price the estimated dividend yield is 3.74%.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 13.36.How do these forecasts compare to market consensus projections?
Current consensus EPS estimate is 303.7, implying annual growth of -0.3%.
Current consensus DPS estimate is 166.7, implying a prospective dividend yield of 4.4%.
Current consensus EPS estimate suggests the PER is 12.6.
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
BMN BANNERMAN ENERGY LIMITED
Uranium – Overnight Price: $2.35
Canaccord Genuity rates ((BMN)) as Speculative Buy (1) –
Canaccord Genuity lowers its price target for Bannerman Energy to $3.74 from $4.08 while retaining a Speculative Buy rating, after deferring first production at the Etango project by six months to early 2029 and tempering ramp-up assumptions.
The analyst expects minimal impact from March flooding, continued early construction and design progress, and ongoing evaluation of strategic funding and offtake partnerships.
Key long-lead items such as the tertiary crusher remain ahead of schedule, and around $36.8m remains uncommitted following the March quarter.
Canaccord Genuity emphasises Bannerman remains focused on securing offtake while preserving leverage to higher uranium prices.
This report was published on April 28, 2025.
Target price is $3.74 Current Price is $2.35 Difference: $1.39
If BMN meets the Canaccord Genuity target it will return approximately 59% (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 2.92 cents.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is minus 80.48.
Forecast for FY26:
Canaccord Genuity forecasts a full year FY26 dividend of 0.00 cents and EPS of minus 1.84 cents.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is minus 127.44.
Market Sentiment: 1.0
All consensus data are updated until yesterday. FNArena’s consensus calculations require a minimum of three sources
BXB BRAMBLES LIMITED
Transportation & Logistics – Overnight Price: $20.13
Jarden rates ((BXB)) as Neutral (3) –
Jarden notes Brambles reported 9-month constant-currency revenue growth of 3%, comprising 2% price and 1% volume, though FY25 revenue guidance was trimmed to 45% from 46% due to volume headwinds.
The analyst highlights unchanged FY25 EBIT growth guidance of 811%, driven by cost reductions including lower inventory pooling equipment expense and corporate overheads, though questions remain around sustainability into FY26.
Management’s free cash flow guidance was raised to US$900mUS$1bn, supporting an anticipated US$500m buyback in FY26.
Jarden lifts FY25FY27 core EPS forecasts modestly and maintains the view that a reversion to normal operating conditions is occurring faster than expected. Neutral rating and $19.80 target price are retained.
This report was published on April 29, 2025.
Target price is $19.80 Current Price is $20.13 Difference: minus $0.33 (current price is over target).
If BXB meets the Jarden target it will return approximately minus 2% (excluding dividends, fees and charges – negative figures indicate an expected loss).
Current consensus price target is $21.94, suggesting upside of 7.0%(ex-dividends)
The company’s fiscal year ends in June.
Forecast for FY25:
Jarden forecasts a full year FY25 dividend of 37.70 cents and EPS of 93.28 cents.
At the last closing share price the estimated dividend yield is 1.87%.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 21.58.How do these forecasts compare to market consensus projections?
Current consensus EPS estimate is 95.8, implying annual growth of N/A.
Current consensus DPS estimate is 59.5, implying a prospective dividend yield of 2.9%.
Current consensus EPS estimate suggests the PER is 21.4.
Forecast for FY26:
Jarden forecasts a full year FY26 dividend of 40.20 cents and EPS of 103.58 cents.
At the last closing share price the estimated dividend yield is 2.00%.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 19.43.How do these forecasts compare to market consensus projections?
Current consensus EPS estimate is 107.2, implying annual growth of 11.9%.
Current consensus DPS estimate is 63.9, implying a prospective dividend yield of 3.1%.
Current consensus EPS estimate suggests the PER is 19.1.
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
CBA COMMONWEALTH BANK OF AUSTRALIA
Banks – Overnight Price: $162.98
Jarden rates ((CBA)) as Sell (5) –
Ahead of upcoming banks’ half-yearly results, Jarden notes fundamentals have been set aside in favour of flows and passive in recent weeks, with CommBank emerging as the most loved stock.
The broker expects net margin compression across all majors except ANZ Bank, due to shifts in deposit mix and lending competition. Buybacks are also seen as less likely as banks’ preference would be to lift CET1 target by 25bps to 11.25-11.75%.
The broker expects CommBank’s 3Q25 update to show solid volume growth and benign credit quality. Net interest margin is expected to decline -2bps vs 1H.
Sell. Target unchanged at $110.
This report was published on April 23, 2025.
Target price is $110.00 Current Price is $162.98 Difference: minus $52.98 (current price is over target).
If CBA 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 $109.00, suggesting downside of -33.8%(ex-dividends)
The company’s fiscal year ends in June.
Forecast for FY25:
Jarden forecasts a full year FY25 dividend of 480.00 cents and EPS of 607.30 cents.
At the last closing share price the estimated dividend yield is 2.95%.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 26.84.How do these forecasts compare to market consensus projections?
Current consensus EPS estimate is 611.4, implying annual growth of 7.8%.
Current consensus DPS estimate is 479.8, implying a prospective dividend yield of 2.9%.
Current consensus EPS estimate suggests the PER is 26.9.
Forecast for FY26:
Jarden forecasts a full year FY26 dividend of 483.00 cents and EPS of 611.60 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 26.65.How do these forecasts compare to market consensus projections?
Current consensus EPS estimate is 637.7, implying annual growth of 4.3%.
Current consensus DPS estimate is 500.4, implying a prospective dividend yield of 3.0%.
Current consensus EPS estimate suggests the PER is 25.8.
Market Sentiment: -1.0
All consensus data are updated until yesterday. FNArena’s consensus calculations require a minimum of three sources
CGF CHALLENGER LIMITED
Wealth Management & Investments – Overnight Price: $7.19
Goldman Sachs rates ((CGF)) as Buy (1) –
Goldman Sachs notes Challenger’s 3Q25 update showed the midpoint of FY25 normalised net profit after tax guidance is around 2% above consensus, with life book growth of -0.9% due to continued Challenger Index Plus maturities, while retail and Japanese annuity sales were strong.
The analyst highlights operating cost controls and improving margins in the life business, helping maintain guidance despite weaker funds management flows.
Capital resilience improved to 1.62x PCA ratio, supported by de-risking of fixed income assets and stable asset allocation.
Goldman Sachs lifts FY25 normalised earnings forecasts by 1.2%, driven by better cost and margin trends, but remains cautious about investment market pressures into 4Q25. Buy rating retained with a $7.40 target price.
This report was published on April 18, 2025.
Target price is $7.40 Current Price is $7.19 Difference: $0.21
If CGF meets the Goldman Sachs target it will return approximately 3% (excluding dividends, fees and charges).
Current consensus price target is $7.35, suggesting upside of 2.1%(ex-dividends)
The company’s fiscal year ends in June.
Forecast for FY25:
Goldman Sachs forecasts a full year FY25 dividend of 28.00 cents and EPS of 59.00 cents.
At the last closing share price the estimated dividend yield is 3.89%.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 12.19.How do these forecasts compare to market consensus projections?
Current consensus EPS estimate is 57.8, implying annual growth of 204.5%.
Current consensus DPS estimate is 28.9, implying a prospective dividend yield of 4.0%.
Current consensus EPS estimate suggests the PER is 12.5.
Forecast for FY26:
Goldman Sachs forecasts a full year FY26 dividend of 29.00 cents and EPS of 60.00 cents.
At the last closing share price the estimated dividend yield is 4.03%.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 11.98.How do these forecasts compare to market consensus projections?
Current consensus EPS estimate is 63.4, implying annual growth of 9.7%.
Current consensus DPS estimate is 30.0, implying a prospective dividend yield of 4.2%.
Current consensus EPS estimate suggests the PER is 11.4.
Market Sentiment: 0.9
All consensus data are updated until yesterday. FNArena’s consensus calculations require a minimum of three sources
Jarden rates ((CGF)) as Overweight (2) –
Challenger’s March quarter annuity sales and book growth missed Jarden’s forecasts, although the tightening of FY25 normalised profit guidance has improved market confidence in management execution.
Despite softer retail and index-plus annuity sales, strength in longer-duration products and a robust capital ratio suggest improved resilience, with a positive rebalancing of the fixed income portfolio, explain the analysts.
The broker lowers FY26 EPS forecasts marginally but raises the target price to $7.50 from $7.40, citing lower balance sheet risks and a higher relative P/E multiple.
Challenger continues to trade at a -1-9% discount to its 10-year average multiple, supporting Jarden’s positive view despite macroeconomic risks. Overweight rating.
This report was published on April 22, 2025.
Target price is $7.50 Current Price is $7.19 Difference: $0.31
If CGF meets the Jarden target it will return approximately 4% (excluding dividends, fees and charges).
Current consensus price target is $7.35, suggesting upside of 2.1%(ex-dividends)
The company’s fiscal year ends in June.
Forecast for FY25:
Jarden forecasts a full year FY25 dividend of 26.00 cents and EPS of 59.60 cents.
At the last closing share price the estimated dividend yield is 3.62%.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 12.06.How do these forecasts compare to market consensus projections?
Current consensus EPS estimate is 57.8, implying annual growth of 204.5%.
Current consensus DPS estimate is 28.9, implying a prospective dividend yield of 4.0%.
Current consensus EPS estimate suggests the PER is 12.5.
Forecast for FY26:
Jarden forecasts a full year FY26 dividend of 26.80 cents and EPS of 62.10 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 11.58.How do these forecasts compare to market consensus projections?
Current consensus EPS estimate is 63.4, implying annual growth of 9.7%.
Current consensus DPS estimate is 30.0, implying a prospective dividend yield of 4.2%.
Current consensus EPS estimate suggests the PER is 11.4.
Market Sentiment: 0.9
All consensus data are updated until yesterday. FNArena’s consensus calculations require a minimum of three sources
D2O DUXTON WATER LIMITED
Agriculture – Overnight Price: $1.50
Petra Capital rates ((D2O)) as Buy (1) –
Petra Capital highlights Duxton Water remains well positioned amid ongoing warm and dry conditions across the southern Murray-Darling Basin. Falling dam levels and fading La Nina expectations suggest to the broker elevated spot water prices into late-2025.
The broker believes higher water prices will drive strong spot sales and lease yields, while the company’s ungeared balance sheet and multiple sale and leaseback opportunities offer upside risks to net tangible assets (NTA).
Despite these positives, Duxton Water trades at a circa -15% discount to NTA, wider than the historical average of -10%, presenting an attractive buying opportunity in the broker’s view.
Petra Capital retains a Buy rating and a $2.10 target price.
This report was published on April 29, 2025.
Target price is $2.10 Current Price is $1.50 Difference: $0.6
If D2O meets the Petra Capital target it will return approximately 40% (excluding dividends, fees and charges).
The company’s fiscal year ends in December.
Forecast for FY25:
Petra Capital forecasts a full year FY25 dividend of 7.40 cents and EPS of 18.20 cents.
At the last closing share price the estimated dividend yield is 4.93%.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 8.24.
Forecast for FY26:
Petra Capital forecasts a full year FY26 dividend of 7.70 cents and EPS of 10.60 cents.
At the last closing share price the estimated dividend yield is 5.13%.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 14.15.
All consensus data are updated until yesterday. FNArena’s consensus calculations require a minimum of three sources
DMP DOMINO’S PIZZA ENTERPRISES LIMITED
Food, Beverages & Tobacco – Overnight Price: $25.80
Jarden rates ((DMP)) as Overweight (2) –
Following the company’s strategy day, Jarden highlights a focus by management at Domino’s Pizza Enterprises under new leadership on simplifying the menu offer, capital discipline, and targeting higher-value markets.
Evidence of improvement, particularly in Japan, France, and Germany, is still early and near-term catalysts remain limited, cautions the broker.
Despite downside risks to FY26 and FY27 forecasts, the broker forecasts a three-year EPS compound annual growth rate (CAGR) of 19% and sees potential for a material re-rating once consistent profitability and top-line momentum re-emerge.
Jarden retains an Overweight rating with a $39.00 target price.
This report was published on April 24, 2025.
Target price is $39.00 Current Price is $25.80 Difference: $13.2
If DMP meets the Jarden target it will return approximately 51% (excluding dividends, fees and charges).
Current consensus price target is $32.29, suggesting upside of 26.1%(ex-dividends)
The company’s fiscal year ends in June.
Forecast for FY25:
Jarden forecasts a full year FY25 dividend of 127.00 cents and EPS of 131.90 cents.
At the last closing share price the estimated dividend yield is 4.92%.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 19.56.How do these forecasts compare to market consensus projections?
Current consensus EPS estimate is 131.0, implying annual growth of 22.8%.
Current consensus DPS estimate is 106.3, implying a prospective dividend yield of 4.2%.
Current consensus EPS estimate suggests the PER is 19.5.
Forecast for FY26:
Jarden forecasts a full year FY26 dividend of 136.00 cents and EPS of 158.30 cents.
At the last closing share price the estimated dividend yield is 5.27%.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 16.30.How do these forecasts compare to market consensus projections?
Current consensus EPS estimate is 150.2, implying annual growth of 14.7%.
Current consensus DPS estimate is 117.0, implying a prospective dividend yield of 4.6%.
Current consensus EPS estimate suggests the PER is 17.1.
Market Sentiment: 0.2
All consensus data are updated until yesterday. FNArena’s consensus calculations require a minimum of three sources
FLT FLIGHT CENTRE TRAVEL GROUP LIMITED
Travel, Leisure & Tourism – Overnight Price: $12.73
Jarden rates ((FLT)) as Buy (1) –
Flight Centre Travel has lowered FY25 profit before tax (PBT) guidance by around -13%, citing softer macroeconomic conditions and company-specific issues, with a positive offset from a planned $200m on-market buyback, notes Jarden.
This guidance now implies to the broker a flat year-on-year outcome, and the analysts expect 2H underlying profit to decline by around -8% year-on-year, with corporate travel demand and override commissions weaker-than-expected.
While no formal guidance was given for FY26, the broker notes management’s cost-out initiatives, reversal of Asian invoicing issues, and cruise channel ramp-up should support a recovery, although macroeconomic risks remain.
Jarden lowers the target price to $19.30 from $22.50 and retains a Buy rating
This report was published on April 28, 2025.
Target price is $19.30 Current Price is $12.73 Difference: $6.57
If FLT meets the Jarden target it will return approximately 52% (excluding dividends, fees and charges).
Current consensus price target is $18.23, suggesting upside of 43.1%(ex-dividends)
The company’s fiscal year ends in June.
Forecast for FY25:
Jarden forecasts a full year FY25 dividend of 50.00 cents and EPS of 102.90 cents.
At the last closing share price the estimated dividend yield is 3.93%.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 12.37.How do these forecasts compare to market consensus projections?
Current consensus EPS estimate is 106.3, implying annual growth of 66.8%.
Current consensus DPS estimate is 44.6, implying a prospective dividend yield of 3.5%.
Current consensus EPS estimate suggests the PER is 12.0.
Forecast for FY26:
Jarden forecasts a full year FY26 dividend of 68.00 cents and EPS of 127.50 cents.
At the last closing share price the estimated dividend yield is 5.34%.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 9.98.How do these forecasts compare to market consensus projections?
Current consensus EPS estimate is 123.0, implying annual growth of 15.7%.
Current consensus DPS estimate is 49.8, implying a prospective dividend yield of 3.9%.
Current consensus EPS estimate suggests the PER is 10.4.
Market Sentiment: 1.0
All consensus data are updated until yesterday. FNArena’s consensus calculations require a minimum of three sources
GOR GOLD ROAD RESOURCES LIMITED
Gold & Silver – Overnight Price: $3.06
Canaccord Genuity rates ((GOR)) as Buy (1) –
Gold Road Resources produced 36koz (attributable) in the March quarter, in line with guidance, though down -22% quarter-on-quarter due to unplanned crusher maintenance, Canaccord Genuity notes.
All-in-sustaining-costs rose 47% to $2,658/oz, slightly above guidance, but higher realised prices and a stronger balance sheet supported $34m in free cash flow.
Management’s guidance for 2025 remains unchanged at 325-355koz with no additional growth capital required.
A scoping study was released outlining a potential sub-level cave underground operation at Gruyere, with a pre-feasibility study targeted for 2026, the analyst details.
Buy rating retained with target price raised to $3.45 from $3.35.
This report was published on April 28, 2025.
Target price is $3.45 Current Price is $3.06 Difference: $0.39
If GOR meets the Canaccord Genuity target it will return approximately 13% (excluding dividends, fees and charges).
Current consensus price target is $3.38, suggesting upside of 9.8%(ex-dividends)
The company’s fiscal year ends in December.
Forecast for FY25:
Canaccord Genuity forecasts a full year FY25 dividend of 4.00 cents and EPS of 27.00 cents.
At the last closing share price the estimated dividend yield is 1.31%.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 11.33.How do these forecasts compare to market consensus projections?
Current consensus EPS estimate is 26.8, implying annual growth of 103.3%.
Current consensus DPS estimate is 4.5, implying a prospective dividend yield of 1.5%.
Current consensus EPS estimate suggests the PER is 11.5.
Forecast for FY26:
Canaccord Genuity forecasts a full year FY26 dividend of 6.00 cents and EPS of 32.00 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 9.56.How do these forecasts compare to market consensus projections?
Current consensus EPS estimate is 29.7, implying annual growth of 10.8%.
Current consensus DPS estimate is 5.4, implying a prospective dividend yield of 1.8%.
Current consensus EPS estimate suggests the PER is 10.4.
Market Sentiment: 0.3
All consensus data are updated until yesterday. FNArena’s consensus calculations require a minimum of three sources
Moelis rates ((GOR)) as Hold (3) –
Gold Road Resources reported March quarter production of 71.2koz, in line with the pre-announced range of 7073koz, with all-in-sustaining-costs of $2,658/oz and a cash balance of $187.2m, slightly above Moelis’ forecasts.
The analyst notes management reiterated FY25 guidance for 325355koz production and attributable all-in-sustaining-costs of $2,400$2,600/oz.
While the softer production impacted cash generation despite strong realised gold prices above $4,500/oz, corporate activity remains the key focus, including the outcome of Gold Fields’ bid for the Gruyere joint venture and the expected proceeds from Northern Star’s ((NST)) acquisition of De Grey Mining ((DEG)).
Operational recovery at Gruyere is expected, supporting production forecasts.
Hold rating retained with a $3.20 target price.
This report was published on April 29, 2025.
Target price is $3.20 Current Price is $3.06 Difference: $0.14
If GOR meets the Moelis target it will return approximately 5% (excluding dividends, fees and charges).
Current consensus price target is $3.38, suggesting upside of 9.8%(ex-dividends)
Forecast for FY25:
Current consensus EPS estimate is 26.8, implying annual growth of 103.3%.
Current consensus DPS estimate is 4.5, implying a prospective dividend yield of 1.5%.
Current consensus EPS estimate suggests the PER is 11.5.
Forecast for FY26:
Current consensus EPS estimate is 29.7, implying annual growth of 10.8%.
Current consensus DPS estimate is 5.4, implying a prospective dividend yield of 1.8%.
Current consensus EPS estimate suggests the PER is 10.4.
Market Sentiment: 0.3
All consensus data are updated until yesterday. FNArena’s consensus calculations require a minimum of three sources
GTK GENTRACK GROUP LIMITED
Software & Services – Overnight Price: $10.86
Wilsons rates ((GTK)) as Upgrade to Overweight from Market Weight (1) –
Wilsons upgrades Gentrack Group to Overweight from Market Weight, highlighting new hiring activity and momentum at Veovo, along with a potential major contract win in Bulgaria.
The analyst observes increased headcount and project scoping for Bulgaria’s largest energy supplier, suggesting supportive growth into the second half of FY25, with catalysts also including possible Tier 1 utility contracts and UK business-to-consumer water sector wins.
Wilsons’ earnings forecasts for FY25 remain unchanged, though the second half earnings skew is increased given continued re-investment in staffing.
Target price slips to $12.10 from $12.50, reflecting a lower valuation multiple offset partly by New Zealand dollar depreciation.
This report was published on April 24, 2025.
Target price is $12.10 Current Price is $10.86 Difference: $1.24
If GTK meets the Wilsons target it will return approximately 11% (excluding dividends, fees and charges).
Current consensus price target is $12.93, suggesting upside of 19.8%(ex-dividends)
The company’s fiscal year ends in September.
Forecast for FY25:
Wilsons forecasts a full year FY25 dividend of 0.00 cents and EPS of 15.49 cents.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 70.11.How do these forecasts compare to market consensus projections?
Current consensus EPS estimate is 16.8, 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 64.3.
Forecast for FY26:
Wilsons forecasts a full year FY26 dividend of 0.00 cents and EPS of 23.97 cents.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 45.31.How do these forecasts compare to market consensus projections?
Current consensus EPS estimate is 26.0, implying annual growth of 54.8%.
Current consensus DPS estimate is N/A, implying a prospective dividend yield of N/A.
Current consensus EPS estimate suggests the PER is 41.5.
This company reports in NZD. 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
HGO HILLGROVE RESOURCES LIMITED
Copper – Overnight Price: $0.04
Moelis rates ((HGO)) as Buy (1) –
Hillgrove Resources reported March quarter copper production of 2.95kt, in line with pre-reported figures and ahead of the Moelis’ estimate of 2.83kt, with sales of 2.91kt at $14,137/t and all-in-sustaining-costs of $5.47/lb.
The broker notes operations at Kanmantoo are regaining momentum following a softer December quarter, with FY25 guidance of 1214kt at all-in-costs of US$3.403.90/lb reaffirmed.
Cash at quarter-end was $14.8m, excluding receivables and unsold concentrate, and the company remains well funded following a recent capital raise, Moelis emphasises..
First production from Nugent is expected by year-end, providing a potential uplift in volume and mine life extension. Buy rating retained with a $0.06 target price.
This report was published on April 29, 2025.
Target price is $0.06 Current Price is $0.04 Difference: $0.024
If HGO meets the Moelis target it will return approximately 67% (excluding dividends, fees and charges).
The company’s fiscal year ends in December.
All consensus data are updated until yesterday. FNArena’s consensus calculations require a minimum of three sources
LTR LIONTOWN RESOURCES LIMITED
New Battery Elements – Overnight Price: $0.57
Canaccord Genuity rates ((LTR)) as Downgrade to Sell from Hold (5) –
Canaccord Genuity lowers its rating on Liontown Resources to Sell from Hold, retaining a $0.50 target price, as balance sheet concerns persist despite a stronger-than-expected March quarter.
The analyst observes concentrate production of 96kt exceeded expectations on higher grades and recoveries, with lower unit costs of $1,081/t outperforming forecasts.
However, weak spodumene prices and looming repayments on the $300m Ford debt facility pose liquidity risks, with the company expected to face a cash crunch by early 2026 without refinancing or additional capital.
While management retained production guidance of 170185kt, costs are expected at the upper end of the range, and market conditions continue to pressure earnings.
The analyst’s earnings forecasts are largely unchanged, with downside risks tied to pricing, debt servicing, and balance sheet strength.
This report was published on April 28, 2025.
Target price is $0.50 Current Price is $0.57 Difference: minus $0.07 (current price is over target).
If LTR meets the Canaccord Genuity target it will return approximately minus 12% (excluding dividends, fees and charges – negative figures indicate an expected loss).
Current consensus price target is $0.62, suggesting upside of 14.8%(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 minus 1.00 cents.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is minus 57.00.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 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 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 14.25.How do these forecasts compare to market consensus projections?
Current consensus EPS estimate is -2.3, 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.
Market Sentiment: 0.0
All consensus data are updated until yesterday. FNArena’s consensus calculations require a minimum of three sources
Goldman Sachs rates ((LTR)) as Neutral (3) –
Liontown Resources reported March quarter spodumene production of 94kt, ahead of consensus, with recoveries improving to 64% and unit operating costs lowering to $816/t, Goldman Sachs explains.
The analyst highlights management retained production guidance for the second half at 170185kt, costs are expected at the upper end due to stockpile drawdowns and catch-up sustaining capital expenditure.
Cash balance stood at $173m, with cost optimisation efforts ongoing and further debt facility discussions expected.
Goldman Sachs observes the stock trades at around 0.95 times net asset value, with valuation uplift potential from de-risking and expansion plans, though balance sheet risk remains elevated.
Neutral rating retained with a target price lowered slightly to $0.63 from $0.64.
This report was published on April 24, 2025.
Target price is $0.63 Current Price is $0.57 Difference: $0.06
If LTR meets the Goldman Sachs target it will return approximately 11% (excluding dividends, fees and charges).
Current consensus price target is $0.62, suggesting upside of 14.8%(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 minus 2.40 cents.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is minus 23.75.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 N/A, implying a prospective dividend yield of N/A.
Current consensus EPS estimate suggests the PER is N/A.
Forecast for FY26:
Goldman Sachs forecasts a full year FY26 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 21.92.How do these forecasts compare to market consensus projections?
Current consensus EPS estimate is -2.3, 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.
Market Sentiment: 0.0
All consensus data are updated until yesterday. FNArena’s consensus calculations require a minimum of three sources
Jarden rates ((LTR)) as Neutral (3) –
Following March quarter reporting, Jarden highlights Liontown Resources continues to demonstrate strong operational execution, achieving first underground production stopes and meeting guidance timelines.
Plant recoveries on development ore for the period exceeded 70%, supporting medium-to long-term plans for higher grades as underground mining ramps-up, suggests the broker. Production is tracking towards the low end of guidance for 2025.
The analysts highlight growing funding risks, forecasting a working capital shortfall despite modelling a $50m government loan, and notes cash burn and debt amortisation obligations could strain liquidity if spodumene prices stay near spot levels.
Jarden lowers short- to medium-term SC6 price assumptions by around -US$100/dmt, while production outlooks were modestly upgraded, supporting improved operating margins from FY27.
The target price falls to 48c from 67c. Neutral rating.
This report was published on April 24, 2025.
Target price is $0.48 Current Price is $0.57 Difference: minus $0.09 (current price is over target).
If LTR meets the Jarden target it will return approximately minus 16% (excluding dividends, fees and charges – negative figures indicate an expected loss).
Current consensus price target is $0.62, suggesting upside of 14.8%(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 minus 2.70 cents.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is minus 21.11.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 N/A, implying a prospective dividend yield of N/A.
Current consensus EPS estimate suggests the PER is N/A.
Forecast for FY26:
Jarden forecasts a full year FY26 dividend of 0.00 cents and EPS of minus 2.00 cents.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is minus 28.50.How do these forecasts compare to market consensus projections?
Current consensus EPS estimate is -2.3, 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.
Market Sentiment: 0.0
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: $8.60
Canaccord Genuity rates ((LYC)) as Buy (1) –
Canaccord Genuity observes Lynas Rare Earths’ March quarter production was slightly below expectations, with NdPr output of 1.5kt versus 1.6kt forecast, and total rare earth oxide sales volumes of 2.4kt below the 3kt estimate.
The analyst points to continued market-driven production management, kiln maintenance in Malaysia, and lower realised prices, though this was partially offset by lower production costs.
The outlook remains challenged by Chinese export controls, which affect global supply chains and raise uncertainty over the production ramp-up, though the start of dysprosium and terbium separation in Malaysia is well timed.
The broker lowers near-term earnings forecasts but longer-term estimates improved on reduced cost assumptions.
Buy rating retained with target price raised to $8.80 from $8.20.
This report was published on April 28, 2025.
Target price is $8.80 Current Price is $8.60 Difference: $0.2
If LYC meets the Canaccord Genuity target it will return approximately 2% (excluding dividends, fees and charges).
Current consensus price target is $7.23, suggesting downside of -16.1%(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 4.00 cents.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 215.00.How do these forecasts compare to market consensus projections?
Current consensus EPS estimate is 5.1, implying annual growth of -43.6%.
Current consensus DPS estimate is N/A, implying a prospective dividend yield of N/A.
Current consensus EPS estimate suggests the PER is 169.0.
Forecast for FY26:
Canaccord Genuity forecasts a full year FY26 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 78.18.How do these forecasts compare to market consensus projections?
Current consensus EPS estimate is 60.4, implying annual growth of 1084.3%.
Current consensus DPS estimate is 2.0, implying a prospective dividend yield of 0.2%.
Current consensus EPS estimate suggests the PER is 14.3.
Market Sentiment: -0.3
All consensus data are updated until yesterday. FNArena’s consensus calculations require a minimum of three sources
Goldman Sachs rates ((LYC)) as Neutral (3) –
Lynas Rare Earths’ March quarter sales revenue of $123m and total production of 1.9kt were below expectations, though NdPr production of 1.51kt was broadly in line with Goldman Sachs’ expectations.
The analyst highlights commissioning of the Heavy Rare Earth separation circuit in Malaysia, with first production of dysprosium and terbium expected shortly, and an emerging opportunity to set ex-China pricing, reflecting rising Western demand post Chinese export restrictions.
Near-term cost pressures and a slower ramp-up at Mount Weld are factored into the broker’s updated forecasts, but long-term expansion to 12ktpa NdPr remains on track by FY28FY29.
Goldman Sachs tweaks earnings forecasts down for FY25/FY26 by -8% and-1%, respectively and FY27 is raised 3%.
Neutral rating maintained with a target price raised to $7.20 from $7.10.
This report was published on April 28, 2025.
Target price is $7.20 Current Price is $8.60 Difference: minus $1.4 (current price is over target).
If LYC meets the Goldman Sachs target it will return approximately minus 16% (excluding dividends, fees and charges – negative figures indicate an expected loss).
Current consensus price target is $7.23, suggesting downside of -16.1%(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 6.00 cents.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 143.33.How do these forecasts compare to market consensus projections?
Current consensus EPS estimate is 5.1, implying annual growth of -43.6%.
Current consensus DPS estimate is N/A, implying a prospective dividend yield of N/A.
Current consensus EPS estimate suggests the PER is 169.0.
Forecast for FY26:
Goldman Sachs forecasts a full year FY26 dividend of 0.00 cents and EPS of 32.00 cents.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 26.88.How do these forecasts compare to market consensus projections?
Current consensus EPS estimate is 60.4, implying annual growth of 1084.3%.
Current consensus DPS estimate is 2.0, implying a prospective dividend yield of 0.2%.
Current consensus EPS estimate suggests the PER is 14.3.
Market Sentiment: -0.3
All consensus data are updated until yesterday. FNArena’s consensus calculations require a minimum of three sources
MQG MACQUARIE GROUP LIMITED
Wealth Management & Investments – Overnight Price: $194.43
Jarden rates ((MQG)) as Underweight (4) –
Ahead of upcoming banks’ half-yearly results, Jarden notes fundamentals have been set aside in favour of flows and passive in recent weeks, with CommBank ((CBA)) emerging as the most loved stock.
The broker expects net margin compression across all majors except ANZ Bank, due to shifts in deposit mix and lending competition. Buybacks are also seen as less likely as banks’ preference would be to lift CET1 target by 25bps to 11.25-11.75%.
The broker expects Macquarie Group to report FY25 net profit of $3.64bn, -2% lower vs consensus. Focus will be on FY26 guidance where the broker’s current forecast is $4.18bn, 1% higher vs consensus.
In a separate note, the broker notes the “surprising” announcement of divestment of North American and European public investment business to Nomura for $2.8bn. The transaction will be incorporated into the forecasts once the FY25 results are announced.
Underweight. Target unchanged at $200.
This report was published on April 23, 2025.
Target price is $200.00 Current Price is $194.43 Difference: $5.57
If MQG meets the Jarden target it will return approximately 3% (excluding dividends, fees and charges).
Current consensus price target is $206.31, suggesting upside of 7.1%(ex-dividends)
The company’s fiscal year ends in March.
Forecast for FY25:
Jarden forecasts a full year FY25 dividend of 628.00 cents and EPS of 930.00 cents.
At the last closing share price the estimated dividend yield is 3.23%.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 20.91.How do these forecasts compare to market consensus projections?
Current consensus EPS estimate is 980.8, implying annual growth of 7.0%.
Current consensus DPS estimate is 626.7, implying a prospective dividend yield of 3.3%.
Current consensus EPS estimate suggests the PER is 19.6.
Forecast for FY26:
Jarden forecasts a full year FY26 dividend of 720.00 cents and EPS of 1046.00 cents.
At the last closing share price the estimated dividend yield is 3.70%.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 18.59.How do these forecasts compare to market consensus projections?
Current consensus EPS estimate is 1113.0, implying annual growth of 13.5%.
Current consensus DPS estimate is 709.0, implying a prospective dividend yield of 3.7%.
Current consensus EPS estimate suggests the PER is 17.3.
Market Sentiment: -0.1
All consensus data are updated until yesterday. FNArena’s consensus calculations require a minimum of three sources
NAB NATIONAL AUSTRALIA BANK LIMITED
Banks – Overnight Price: $35.95
Jarden rates ((NAB)) as Underweight (4) –
Ahead of upcoming banks’ half-yearly results, Jarden notes fundamentals have been set aside in favour of flows and passive in recent weeks, with CommBank ((CBA)) emerging as the most loved stock.
The broker expects net margin compression across all majors except ANZ Bank, due to shifts in deposit mix and lending competition. Buybacks are also seen as less likely as banks’ preference would be to lift CET1 target by 25bps to 11.25-11.75%.
The broker expects National Australia Bank’s 1H25 net profit to be -3% down h/h mainly on a -2bps decline in net interest margin. Commentary on capital management, management changes and strategy for business banking will be areas of focus.
Underweight.Target unchanged at $30.
This report was published on April 23, 2025.
Target price is $30.00 Current Price is $35.95 Difference: minus $5.95 (current price is over target).
If NAB meets the Jarden target it will return approximately minus 17% (excluding dividends, fees and charges – negative figures indicate an expected loss).
Current consensus price target is $33.31, suggesting downside of -7.6%(ex-dividends)
The company’s fiscal year ends in September.
Forecast for FY25:
Jarden forecasts a full year FY25 dividend of 169.00 cents and EPS of 225.40 cents.
At the last closing share price the estimated dividend yield is 4.70%.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 15.95.How do these forecasts compare to market consensus projections?
Current consensus EPS estimate is 225.0, implying annual growth of 0.2%.
Current consensus DPS estimate is 170.2, implying a prospective dividend yield of 4.7%.
Current consensus EPS estimate suggests the PER is 16.0.
Forecast for FY26:
Jarden forecasts a full year FY26 dividend of 170.00 cents and EPS of 231.00 cents.
At the last closing share price the estimated dividend yield is 4.73%.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 15.56.How do these forecasts compare to market consensus projections?
Current consensus EPS estimate is 225.3, implying annual growth of 0.1%.
Current consensus DPS estimate is 169.5, implying a prospective dividend yield of 4.7%.
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
NEM NEWMONT CORPORATION REGISTERED
Gold & Silver – Overnight Price: $83.52
Goldman Sachs rates ((NEM)) as Buy (1) –
Goldman Sachs notes Newmont Corp reported 1Q 2025 adjusted earnings before interest, tax, depreciation and amortisation of US$2.6bn, 16% ahead of expectations, with Tier 1 gold production of 1.34Moz and realised gold prices about 3% higher than forecast.
The analyst points to strong operational cash flow and management reduced net debt to US$3.2bn, with continued capital returns, including a US$0.25 per share dividend and share buybacks. Liquidity forecast to rise to circa US$6bn.
Newmont Corp retained full-year 2025 guidance for Tier 1 gold production of 5.6Moz and all-in-sustaining-costs of US$1,620/oz, though the broker notes sector-wide cost pressures.
The analyst explains expected free cash flow yields above 10% between 20252029 and rapid de-leveraging underpin the medium-term outlook. Buy rating is retained, with Newmont seen trading at a discount to peers.
Goldman Sachs lowers the target price to $93.40 from $95.50.
This report was published on April 25, 2025.
Target price is $93.40 Current Price is $83.52 Difference: $9.88
If NEM meets the Goldman Sachs target it will return approximately 12% (excluding dividends, fees and charges).
Current consensus price target is $94.60, suggesting upside of 13.9%(ex-dividends)
The company’s fiscal year ends in December.
Forecast for FY25:
Goldman Sachs forecasts a full year FY25 dividend of 153.68 cents and EPS of 754.57 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 11.07.How do these forecasts compare to market consensus projections?
Current consensus EPS estimate is 671.2, implying annual growth of N/A.
Current consensus DPS estimate is 157.4, implying a prospective dividend yield of 1.9%.
Current consensus EPS estimate suggests the PER is 12.4.
Forecast for FY26:
Goldman Sachs forecasts a full year FY26 dividend of 153.68 cents and EPS of 862.15 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 9.69.How do these forecasts compare to market consensus projections?
Current consensus EPS estimate is 673.2, implying annual growth of 0.3%.
Current consensus DPS estimate is 158.9, implying a prospective dividend yield of 1.9%.
Current consensus EPS estimate suggests the PER is 12.3.
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
PDI PREDICTIVE DISCOVERY LIMITED
Gold & Silver – Overnight Price: $0.37
Canaccord Genuity rates ((PDI)) as Speculative Buy (1) –
Canaccord Genuity notes Predictive Discovery lifted the Bankan Gold Project resource to 5.53Moz after maiden resources at Fouwagbe and Sounsoun, though these additions are not expected to feature in the upcoming Definitive Feasibility Study.
The analyst highlights upside potential along the 30km plus structural trend, with drilling planned to test down-plunge extensions and new targets around the Argo area.
Progress toward final Exploitation Permit approval continues, with strong engagement from the Guinean authorities and anticipated approval in the June quarter.
The company remains well funded with circa $83m cash to advance the Definitive Feasibility Study, early development activities, and exploration. Speculative Buy rating retained with a $0.56 target price.
This report was published on April 23, 2025.
Target price is $0.56 Current Price is $0.37 Difference: $0.19
If PDI meets the Canaccord Genuity target it will return approximately 51% (excluding dividends, fees and charges).
Market Sentiment: 0.5
All consensus data are updated until yesterday. FNArena’s consensus calculations require a minimum of three sources
PDN PALADIN ENERGY LIMITED
Uranium – Overnight Price: $6.13
Canaccord Genuity rates ((PDN)) as Buy (1) –
Canaccord Genuity notes Paladin Energy reported a strong 3Q25 with production of 0.745Mlb, up 17% quarter-on-quarter, beating expectations despite March rainfall disruptions.
The analyst highlights lower operating costs at US$40.6/lb, improved sales volumes, and the early commencement of mining at the G2A pit, supporting higher grade and throughput forecasts.
The broker models FY25 production at 2.8Mlb, up 200klb, though operating costs are expected to rise temporarily to US$47.1/lb in the June quarter before trending lower.
Buy rating retained with target price lowered to $12.80 from $13.35.
This report was published on April 24, 2025.
Target price is $12.80 Current Price is $6.13 Difference: $6.67
If PDN meets the Canaccord Genuity target it will return approximately 109% (excluding dividends, fees and charges).
Current consensus price target is $8.41, suggesting upside of 42.0%(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 minus 6.96 cents.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is minus 88.05.How do these forecasts compare to market consensus projections?
Current consensus EPS estimate is -1.7, 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 0.00 cents and EPS of 25.05 cents.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 24.47.How do these forecasts compare to market consensus projections?
Current consensus EPS estimate is 29.1, implying annual growth of N/A.
Current consensus DPS estimate is 5.0, implying a prospective dividend yield of 0.8%.
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
PLS PILBARA MINERALS LIMITED
New Battery Elements – Overnight Price: $1.54
Goldman Sachs rates ((PLS)) as Neutral (3) –
Goldman Sachs notes Pilbara Minerals reported 3Q25 spodumene production of 125kt, -7% below forecast, impacted by cyclone disruptions and P1000 expansion tie-ins, though unit costs of $685/t were marginally better than expected.
The analyst says FY25 production guidance remains unchanged, with a stronger June quarter exit rate anticipated and ongoing cost reduction initiatives.
Growth projects, including the Colina project and P2000 feasibility study, are now expected to drive production to 2.1Mtpa by 2030, though free cash flow generation is forecast to remain subdued mid-decade due to capital spending needs.
Despite a strong balance sheet with $1.062bn cash, net cash is expected to decline until late-decade given investment in expansion projects.
Goldman Sachs lifts EPS estimates by 5% and 2% for FY25/FY26, respectively. Neutral rating retained with a $1.75 target price.
This report was published on April 17, 2025.
Target price is $1.75 Current Price is $1.54 Difference: $0.21
If PLS meets the Goldman Sachs target it will return approximately 14% (excluding dividends, fees and charges).
Current consensus price target is $1.91, suggesting upside of 23.8%(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 minus 2.00 cents.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is minus 77.00.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:
Goldman Sachs 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 77.00.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 59.2.
Market Sentiment: 0.7
All consensus data are updated until yesterday. FNArena’s consensus calculations require a minimum of three sources
Jarden rates ((PLS)) as Buy (1) –
Pilbara Minerals remains a high-conviction preference for Jarden in the Lithium sector, suggesting the balance sheet is a ‘fortress’ given the cash balance has not dipped below $1bn since the September quarter 2023.
Since that time, there has been a prolonged period of depressed lithium prices coinciding with elevated investment in growth, highlights the broker.
As per the March quarter activities report, the company generated $39m of cash (pre-capex) or $12m (post sustaining capex).
The target slips to $2.40 from $2.50. Buy.
This report was published on April 22, 2025.
Target price is $2.40 Current Price is $1.54 Difference: $0.86
If PLS meets the Jarden target it will return approximately 56% (excluding dividends, fees and charges).
Current consensus price target is $1.91, suggesting upside of 23.8%(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 minus 2.80 cents.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is minus 55.00.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:
Jarden forecasts a full year FY26 dividend of 0.00 cents and EPS of 5.80 cents.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 26.55.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 59.2.
Market Sentiment: 0.7
All consensus data are updated until yesterday. FNArena’s consensus calculations require a minimum of three sources
PNR PANTORO GOLD LIMITED
Gold & Silver – Overnight Price: $2.84
Moelis rates ((PNR)) as Hold (3) –
Pantoro Gold reported March quarter production of 18.3koz, below guidance of 20.725.3koz and Moelis’ estimate of 22.7koz, with all-in-sustaining-costs rising to $2,427/oz due to delays in ramping up the Scotia Underground.
The analyst notes the shortfall was driven by staffing constraints and development decisions deferring ounces into April, reflected in June quarter guidance of 2326koz.
The analyst observes management offered no update on FY25 guidance of 8595koz, implying a stronger June quarter is required to meet the lower end.
Other operations, including the OK mine, are performing in line or better than planned. Hold rating retained with a $3.16 target price.
This report was published on April 28, 2025.
Target price is $3.16 Current Price is $2.84 Difference: $0.32
If PNR meets the Moelis target it will return approximately 11% (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: 0.0
All consensus data are updated until yesterday. FNArena’s consensus calculations require a minimum of three sources
PRU PERSEUS MINING LIMITED
Gold & Silver – Overnight Price: $3.33
Canaccord Genuity rates ((PRU)) as Buy (1) –
Perseus Mining has approved the development of the Nyanzaga Gold Project in Tanzania, with updated feasibility outcomes supporting a 5.5Mtpa open-pit operation producing 200koz per annum over 11 years at all-in-sustaining-costs of US$1,310/oz, Canaccord Genuity explains.
The analyst observes development capital has increased to -US$523m, while the mine life has been extended 57% on improved reserves, though annual output is -25% below previous estimates.
Canaccord Genuity’s post-tax net present value for the project is estimated at US$1.15bn with internal rate of return of 46%, and Perseus is expected to fund development internally from a March quarter liquidity position of US$1.1bn.
Group production is projected to remain stable at 300-350koz per annum out to 2034 as Nyanzaga offsets Edikan’s end of life.
Buy rating and $5.00 target price are unchanged.
This report was published on April 28, 2025.
Target price is $5.00 Current Price is $3.33 Difference: $1.67
If PRU meets the Canaccord Genuity target it will return approximately 50% (excluding dividends, fees and charges).
Current consensus price target is $3.91, suggesting upside of 16.1%(ex-dividends)
The company’s fiscal year ends in June.
Forecast for FY25:
Canaccord Genuity forecasts a full year FY25 dividend of 7.68 cents and EPS of 44.57 cents.
At the last closing share price the estimated dividend yield is 2.31%.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 7.47.How do these forecasts compare to market consensus projections?
Current consensus EPS estimate is 40.5, implying annual growth of N/A.
Current consensus DPS estimate is 9.4, implying a prospective dividend yield of 2.8%.
Current consensus EPS estimate suggests the PER is 8.3.
Forecast for FY26:
Canaccord Genuity forecasts a full year FY26 dividend of 6.15 cents and EPS of 39.96 cents.
At the last closing share price the estimated dividend yield is 1.85%.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 8.33.How do these forecasts compare to market consensus projections?
Current consensus EPS estimate is 38.8, implying annual growth of -4.2%.
Current consensus DPS estimate is 11.0, implying a prospective dividend yield of 3.3%.
Current consensus EPS estimate suggests the PER is 8.7.
This company reports in USD. All estimates have been converted into AUD by FNArena at present FX values.
Market Sentiment: 0.6
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: $21.52
Goldman Sachs rates ((QBE)) as Buy (1) –
Goldman Sachs highlights QBE Insurance reported a consistent strategy focused on growth following portfolio optimisation, with strong rate adequacy across most areas but some pressure in wholesale London, Australian competition, and management liability.
The analyst notes US Casualty premium growth to US$250m and improved US business profitability following portfolio exits and reserving actions, alongside reinvestment in AI for underwriting and claims efficiency.
Reinsurer support has strengthened with lower retention levels, and organic growth is prioritised over M&A, though selective acquisitions remain an option.
Buy rating retained with a $25.00 target price.
This report was published on April 18, 2025.
Target price is $25.00 Current Price is $21.52 Difference: $3.48
If QBE meets the Goldman Sachs target it will return approximately 16% (excluding dividends, fees and charges).
Current consensus price target is $23.35, suggesting upside of 7.8%(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 175.50 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 12.26.How do these forecasts compare to market consensus projections?
Current consensus EPS estimate is 182.7, implying annual growth of N/A.
Current consensus DPS estimate is 89.2, implying a prospective dividend yield of 4.1%.
Current consensus EPS estimate suggests the PER is 11.9.
Forecast for FY26:
Goldman Sachs forecasts a full year FY26 dividend of 97.70 cents and EPS of 197.48 cents.
At the last closing share price the estimated dividend yield is 4.54%.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 10.90.How do these forecasts compare to market consensus projections?
Current consensus EPS estimate is 198.1, implying annual growth of 8.4%.
Current consensus DPS estimate is 97.2, implying a prospective dividend yield of 4.5%.
Current consensus EPS estimate suggests the PER is 10.9.
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: $36.75
Goldman Sachs rates ((RMD)) as Buy (1) –
Goldman Sachs notes ResMed reported a 3Q25 result broadly in line with expectations, with non-GAAP income from operations around 1% ahead of consensus, driven by a sequential gross margin improvement of 70bps.
The analyst points to US mask sales growth of 13%, offsetting slightly weaker US device sales, and confirms US tariff exemptions (largely) which support future margin expansion.
ResMed announced the planned US$100m per quarter share buyback from 4Q25 which the broker believes signals management’s confidence in core product demand and strategy execution.
Goldman Sachs FY25 EPS forecast is largely unchanged but FY26 and FY27 are raised by 5.8% and 6.1% respectively, reflecting tariff removal and stronger operational leverage.
Buy rating retained with target price raised to $49.30 from $46.90.
This report was published on April 27, 2025.
Target price is $49.30 Current Price is $36.75 Difference: $12.55
If RMD meets the Goldman Sachs target it will return approximately 34% (excluding dividends, fees and charges).
Current consensus price target is $45.42, suggesting upside of 22.9%(ex-dividends)
The company’s fiscal year ends in June.
Forecast for FY25:
Goldman Sachs forecasts a full year FY25 dividend of 33.81 cents and EPS of 146.00 cents.
At the last closing share price the estimated dividend yield is 0.92%.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 25.17.How do these forecasts compare to market consensus projections?
Current consensus EPS estimate is 148.4, implying annual growth of N/A.
Current consensus DPS estimate is 34.1, implying a prospective dividend yield of 0.9%.
Current consensus EPS estimate suggests the PER is 24.9.
Forecast for FY26:
Goldman Sachs forecasts a full year FY26 dividend of 39.96 cents and EPS of 167.51 cents.
At the last closing share price the estimated dividend yield is 1.09%.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 21.94.How do these forecasts compare to market consensus projections?
Current consensus EPS estimate is 164.4, implying annual growth of 10.8%.
Current consensus DPS estimate is 37.1, implying a prospective dividend yield of 1.0%.
Current consensus EPS estimate suggests the PER is 22.5.
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
Jarden rates ((RMD)) as Overweight (2) –
In Jarden’s view, ResMed delivered a strong third quarter result, reinforcing its safe-haven status with robust top-line growth, a rising gross margin at the top end of guidance, and an accelerated share buyback program.
The broker highlights the gross margin improved by 70bps quarter-on-quarter to 59.9%, three months ahead of expectations, driven by manufacturing efficiencies, cost savings, product mix and procurement benefits.
Guidance suggests to the analysts margins could exceed 60% in the fourth quarter.
Tariff exemption confirmation under the Nairobi Protocol was a key positive, according to Jarden, ensuring ResMed’s US operations avoid new 10% tariffs, with management also emphasising the company’s growing US manufacturing presence.
The broker raises its target price to $40.54 from $39.97 and maintains an Overweight rating.
This report was published on April 24, 2025.
Target price is $40.54 Current Price is $36.75 Difference: $3.79
If RMD meets the Jarden target it will return approximately 10% (excluding dividends, fees and charges).
Current consensus price target is $45.42, suggesting upside of 22.9%(ex-dividends)
The company’s fiscal year ends in June.
Forecast for FY25:
Jarden forecasts a full year FY25 dividend of 33.50 cents and EPS of 146.92 cents.
At the last closing share price the estimated dividend yield is 0.91%.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 25.01.How do these forecasts compare to market consensus projections?
Current consensus EPS estimate is 148.4, implying annual growth of N/A.
Current consensus DPS estimate is 34.1, implying a prospective dividend yield of 0.9%.
Current consensus EPS estimate suggests the PER is 24.9.
Forecast for FY26:
Jarden forecasts a full year FY26 dividend of 42.26 cents and EPS of 173.04 cents.
At the last closing share price the estimated dividend yield is 1.15%.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 21.24.How do these forecasts compare to market consensus projections?
Current consensus EPS estimate is 164.4, implying annual growth of 10.8%.
Current consensus DPS estimate is 37.1, implying a prospective dividend yield of 1.0%.
Current consensus EPS estimate suggests the PER is 22.5.
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
Wilsons rates ((RMD)) as Market Weight (3) –
Wilsons notes ResMed reported a 3Q25 result slightly below expectations, with non-GAAP net profit after tax up 11% but missing consensus by -1%.
The analyst highlights device and mask sales growth reverted to long-term trends, with the backlog in diagnostic and referral channels mostly cleared, and confirms tariff exemptions (largely) for ResMed’s products.
Gross margin improved 140 basis points year-on-year due to manufacturing efficiencies and favourable mix, while operating cash flow rose 44% to US$579m, supporting a net cash position.
Wilsons expects modest forecast adjustments, with 4Q25 guidance moderating and longer-term growth aligned to historic norms. Market Weight rating and $42.82 target price under review.
This report was published on April 24, 2025.
Target price is $42.82 Current Price is $36.75 Difference: $6.07
If RMD meets the Wilsons target it will return approximately 17% (excluding dividends, fees and charges).
Current consensus price target is $45.42, suggesting upside of 22.9%(ex-dividends)
Forecast for FY25:
Current consensus EPS estimate is 148.4, implying annual growth of N/A.
Current consensus DPS estimate is 34.1, implying a prospective dividend yield of 0.9%.
Current consensus EPS estimate suggests the PER is 24.9.
Forecast for FY26:
Current consensus EPS estimate is 164.4, implying annual growth of 10.8%.
Current consensus DPS estimate is 37.1, implying a prospective dividend yield of 1.0%.
Current consensus EPS estimate suggests the PER is 22.5.
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
RSG RESOLUTE MINING LIMITED
Gold & Silver – Overnight Price: $0.50
Canaccord Genuity rates ((RSG)) as Buy (1) –
Canaccord Genuity observes Resolute Mining’s March quarter production of 75koz was below its forecast of 81koz but above consensus, with weaker performance at Syama and Mako.
All-in-sustaining-costs rose to US$1,708/oz, above expectations due to lower output, though improved revenue from higher gold prices is expected to offset cost risks.
Management’s FY25 guidance of 275-300koz is unchanged, with meaningful free cash flow projected at US$159m, potentially rising to US$193m at spot prices.
The analyst highlights growth potential from Syama expansion (Q2 2026) and Senegal prospects, with a possible future cash windfall from the Ravenswood asset sale.
Buy rating and $1.00 target price are maintained.
This report was published on April 28, 2025.
Target price is $1.00 Current Price is $0.50 Difference: $0.5
If RSG meets the Canaccord Genuity target it will return approximately 100% (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 13.83 cents.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 3.62.
Forecast for FY26:
Canaccord Genuity forecasts a full year FY26 dividend of 0.00 cents and EPS of 19.98 cents.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 2.50.
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
RXL ROX RESOURCES LIMITED
Gold & Silver – Overnight Price: $0.37
Canaccord Genuity rates ((RXL)) as Speculative Buy (1) –
Rox Resources completed a 35,000m drilling program at the Youanmi Gold Project under budget, with a Mineral Resource Estimate update expected in July 2025 and a Definitive Feasibility Study by year-end, Canaccord Genuity details.
The analyst highlights multiple high-grade intercepts at Youanmi Main and Prospect zones, as well as ongoing drilling at extensional targets not included in the upcoming resource update.
Estimated cash of $17m supports early dewatering and development activities, with environmental and metallurgical work progressing.
The broker anticipates gold production starts in FY27 at 103koz per annum with all-in-sustaining-costs modelled at $1,676/oz under the existing Pre-Feasibility Study.
Speculative Buy rating and $0.61 target price are maintained.
This report was published on April 28, 2025.
Target price is $0.61 Current Price is $0.37 Difference: $0.24
If RXL meets the Canaccord Genuity target it will return approximately 65% (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 3.00 cents.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is minus 12.33.
Forecast for FY26:
Canaccord Genuity forecasts a full year FY26 dividend of 0.00 cents and EPS of minus 1.00 cents.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is minus 37.00.
All consensus data are updated until yesterday. FNArena’s consensus calculations require a minimum of three sources
S32 SOUTH32 LIMITED
Mining – Overnight Price: $2.78
Canaccord Genuity rates ((S32)) as Upgrade to Hold from Sell (3) –
Canaccord Genuity upgrades South32 to Hold from Sell after the March quarter update, noting alumina and aluminium production met expectations while manganese, silver and copper were weaker.
The analyst highlights a -10% downgrade to Cannington production guidance due to geotechnical issues, along with higher cost expectations at US$195/t ore processed.
Despite industrial metal price weakness and Hermosa capital cost concerns, valuation metrics have improved with South32’s earnings before interest, tax, depreciation and amortisation multiple now 45 times, implying limited downside.
Canaccord Genuity’s FY25 earnings forecasts are raised by 9% on lower group costs, while FY26 is lowered by -3% on weaker copper revenues. Target price remains unchanged at $2.60.
This report was published on April 23, 2025.
Target price is $2.60 Current Price is $2.78 Difference: minus $0.18 (current price is over target).
If S32 meets the Canaccord Genuity target it will return approximately minus 6% (excluding dividends, fees and charges – negative figures indicate an expected loss).
Current consensus price target is $3.84, suggesting upside of 39.7%(ex-dividends)
The company’s fiscal year ends in June.
Forecast for FY25:
Canaccord Genuity forecasts a full year FY25 dividend of 8.18 cents and EPS of 19.36 cents.
At the last closing share price the estimated dividend yield is 2.94%.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 14.36.How do these forecasts compare to market consensus projections?
Current consensus EPS estimate is 28.1, implying annual growth of N/A.
Current consensus DPS estimate is 11.5, implying a prospective dividend yield of 4.2%.
Current consensus EPS estimate suggests the PER is 9.8.
Forecast for FY26:
Canaccord Genuity forecasts a full year FY26 dividend of 5.38 cents and EPS of 11.99 cents.
At the last closing share price the estimated dividend yield is 1.93%.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 23.19.How do these forecasts compare to market consensus projections?
Current consensus EPS estimate is 37.2, implying annual growth of 32.4%.
Current consensus DPS estimate is 15.5, implying a prospective dividend yield of 5.6%.
Current consensus EPS estimate suggests the PER is 7.4.
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
Goldman Sachs rates ((S32)) as Buy (1) –
Goldman Sachs notes South32 reported a solid 3Q25 report. Aluminium, alumina, and copper production were all up on the previous year with robust operating cash flow.
The balance sheet had cash on hand of around US$250m pre a US$150m dividend payment at the end of the period.
Management retained FY25 guidance except for the Cannington zinc/silver mine, the broker highlights, where production guidance declined by -10% arising from geotechnical problems.
Goldman Sachs lowers earnings (EBITDA) forecasts by -6% for FY25 and -1% in FY26. No change to $3.30 target price and Buy rating.
This report was published on April 17, 2025.
Target price is $3.30 Current Price is $2.78 Difference: $0.52
If S32 meets the Goldman Sachs target it will return approximately 19% (excluding dividends, fees and charges).
Current consensus price target is $3.84, suggesting upside of 39.7%(ex-dividends)
The company’s fiscal year ends in June.
Forecast for FY25:
Goldman Sachs forecasts a full year FY25 dividend of 8.76 cents and EPS of 21.82 cents.
At the last closing share price the estimated dividend yield is 3.15%.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 12.74.How do these forecasts compare to market consensus projections?
Current consensus EPS estimate is 28.1, implying annual growth of N/A.
Current consensus DPS estimate is 11.5, implying a prospective dividend yield of 4.2%.
Current consensus EPS estimate suggests the PER is 9.8.
Forecast for FY26:
Goldman Sachs forecasts a full year FY26 dividend of 10.76 cents and EPS of 22.90 cents.
At the last closing share price the estimated dividend yield is 3.87%.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 12.14.How do these forecasts compare to market consensus projections?
Current consensus EPS estimate is 37.2, implying annual growth of 32.4%.
Current consensus DPS estimate is 15.5, implying a prospective dividend yield of 5.6%.
Current consensus EPS estimate suggests the PER is 7.4.
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
SPK SPARK NEW ZEALAND LIMITED
Telecommunication – Overnight Price: $1.95
Jarden rates ((SPK)) as Overweight (2) –
A subdued commentary from Jarden on Spark New Zealand’s outlook, but the key one is a downgrade to the FY26 dividend forecast to NZ17c from NZ20c to align with sustainable free cash flow.
Retaining A- rating may also be a factor in the company lowering its dividend forecast, even though the broker believes the balance sheet is strong to support the rating.
The analyst retained the FY25 EBITDA forecast but cut the FY26 estimate by -2.6% on challenging market conditions for the enterprise/government business. The broker highlights taking data centres off-balance sheet into SPV is important for the free cash flow outlook.
Overweight. Target cut to NZ$2.80 from NZ$3.10.
This report was published on April 22, 2025.
Current Price is $1.95. Target price not assessed.
Current consensus price target is N/A
The company’s fiscal year ends in June.
Forecast for FY25:
Jarden forecasts a full year FY25 dividend of 22.78 cents and EPS of 11.12 cents.
At the last closing share price the estimated dividend yield is 11.71%.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 17.50.How do these forecasts compare to market consensus projections?
Current consensus EPS estimate is 14.5, implying annual growth of N/A.
Current consensus DPS estimate is 23.2, implying a prospective dividend yield of 11.8%.
Current consensus EPS estimate suggests the PER is 13.5.
Forecast for FY26:
Jarden forecasts a full year FY26 dividend of 15.49 cents and EPS of 12.67 cents.
At the last closing share price the estimated dividend yield is 7.96%.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 15.36.How do these forecasts compare to market consensus projections?
Current consensus EPS estimate is 15.1, implying annual growth of 4.1%.
Current consensus DPS estimate is 17.7, implying a prospective dividend yield of 9.0%.
Current consensus EPS estimate suggests the PER is 13.0.
This company reports in NZD. 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
STO SANTOS LIMITED
NatGas – Overnight Price: $6.12
Goldman Sachs rates ((STO)) as Buy (1) –
Santos’ 1Q25 production and sales beat Goldman Sachs’ forecast by 4% due mainly to higher-than-expected production from PNG. Revenue also beat the broker’s estimate by 7% due to higher production and higher realised domestic gas prices.
The company’s FY25 production guidance is in line with the analyst but the capex estimate is lower. The broker lifted FY25 EBITDA forecast by 1% on higher LNG production.
Buy. Target rises to $7.85 from $7.80.
This report was published on April 17, 2025.
Target price is $7.85 Current Price is $6.12 Difference: $1.73
If STO meets the Goldman Sachs target it will return approximately 28% (excluding dividends, fees and charges).
Current consensus price target is $7.66, suggesting upside of 26.2%(ex-dividends)
The company’s fiscal year ends in December.
Forecast for FY25:
Goldman Sachs forecasts a full year FY25 dividend of 18.44 cents and EPS of 39.96 cents.
At the last closing share price the estimated dividend yield is 3.01%.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 15.32.How do these forecasts compare to market consensus projections?
Current consensus EPS estimate is 52.8, implying annual growth of N/A.
Current consensus DPS estimate is 25.4, implying a prospective dividend yield of 4.2%.
Current consensus EPS estimate suggests the PER is 11.5.
Forecast for FY26:
Goldman Sachs forecasts a full year FY26 dividend of 44.57 cents and EPS of 78.38 cents.
At the last closing share price the estimated dividend yield is 7.28%.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 7.81.How do these forecasts compare to market consensus projections?
Current consensus EPS estimate is 58.2, implying annual growth of 10.2%.
Current consensus DPS estimate is 30.9, implying a prospective dividend yield of 5.1%.
Current consensus EPS estimate suggests the PER is 10.4.
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
Jarden rates ((STO)) as Overweight (2) –
Jarden retains an Overweight rating for Santos following an in-line March quarter update. Production of 21.9mmboe broadly matched the broker’s estimates and free cash flow of $465m exceeded expectations due to higher realised gas prices.
The broker highlights Barossa LNG delivery remains the key focus, noting the project is 95.2% complete but still reliant on final Environment Plan approval before first gas into Darwin LNG.
A faster-than-forecast ramp-up at Pikka Phase 1, now expected to reach 80,000bopd by mid-2026, could help offset Barossa-related gearing concerns, suggest the analysts.
The broker upgrades FY25 earnings (EBITDA) by around 2% on stronger realised sales and makes minor adjustments to FY26-27 production and cost assumptions.
Jarden retains a $6.70 target price and Overweight rating.
This report was published on April 22, 2025.
Target price is $6.70 Current Price is $6.12 Difference: $0.58
If STO meets the Jarden target it will return approximately 9% (excluding dividends, fees and charges).
Current consensus price target is $7.66, suggesting upside of 26.2%(ex-dividends)
The company’s fiscal year ends in December.
Forecast for FY25:
Jarden forecasts a full year FY25 dividend of 23.97 cents and EPS of 44.41 cents.
At the last closing share price the estimated dividend yield is 3.92%.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 13.78.How do these forecasts compare to market consensus projections?
Current consensus EPS estimate is 52.8, implying annual growth of N/A.
Current consensus DPS estimate is 25.4, implying a prospective dividend yield of 4.2%.
Current consensus EPS estimate suggests the PER is 11.5.
Forecast for FY26:
Jarden forecasts a full year FY26 dividend of 25.51 cents and EPS of 59.17 cents.
At the last closing share price the estimated dividend yield is 4.17%.
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 58.2, implying annual growth of 10.2%.
Current consensus DPS estimate is 30.9, implying a prospective dividend yield of 5.1%.
Current consensus EPS estimate suggests the PER is 10.4.
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
STX STRIKE ENERGY LIMITED
NatGas – Overnight Price: $0.17
Goldman Sachs rates ((STX)) as Buy (1) –
Goldman Sachs notes Strike Energy’s March quarter production and sales revenue were in line with expectations, with total production of 2.3 petajoules equivalent and sales revenue of $19m.
The analyst highlights progress on the strategic review and CEO appointment expected by mid-May, along with continued development of the South Erregulla 85MW peaking power plant, on track for commissioning by October 2026.
Goldman Sachs observes the Walyering gas field continues to generate strong cash flow, supporting funding for new developments, while the West Erregulla joint venture with Hancock is under strategic reassessment.
Forecasts for earnings before interest, tax, depreciation and amortisation are revised slightly higher, but the 12-month target price remains unchanged at $0.25 per share. Buy rating is retained.
This report was published on April 28, 2025.
Target price is $0.25 Current Price is $0.17 Difference: $0.085
If STX meets the Goldman Sachs target it will return approximately 52% (excluding dividends, fees and charges).
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 21.00 cents.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 0.79.
Forecast for FY26:
Goldman Sachs forecasts a full year FY26 dividend of 0.00 cents and EPS of 66.00 cents.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 0.25.
Market Sentiment: 0.5
All consensus data are updated until yesterday. FNArena’s consensus calculations require a minimum of three sources
THL TOURISM HOLDINGS LIMITED
Travel, Leisure & Tourism – Overnight Price: $1.34
Jarden rates ((THL)) as Downgrade to Overweight from Buy (2) –
Tourism Holdings Rentals provided a trading update indicating to Jarden a further deterioration in vehicle sales and a slowdown in forward bookings in the US.
Management believes underlying profit for FY25 will be “significantly below” the current consensus forecast.
The broker notes a material decline in US tourism bookings, although rental demand outside the US remains positive, supporting a more stable outlook into FY26.
While net debt remains manageable under extended facilities, Jarden highlights a higher net debt to earnings, well above pre-covid levels, raising concerns over balance sheet pressure if trading conditions worsen further.
Jarden downgrades earnings forecasts by -32%-40% across FY25-27, reflecting reduced vehicle sales, lower rental revenue per asset, and a smaller fleet size. The target falls to NZ$3.00 from NZ$4.21 and the rating is downgraded to Overweight from Buy.
Jarden notes the company’s dominant A&NZ market position and resilience in rental yields, but also recognises uncertainty in North America due to tariff risks.
This report was published on April 22, 2025.
Current Price is $1.34. Target price not assessed.
Current consensus price target is $1.73, suggesting upside of 29.1%(ex-dividends)
The company’s fiscal year ends in June.
Forecast for FY25:
Jarden forecasts a full year FY25 dividend of 5.47 cents and EPS of 14.03 cents.
At the last closing share price the estimated dividend yield is 4.08%.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 9.55.How do these forecasts compare to market consensus projections?
Current consensus EPS estimate is 18.4, implying annual growth of N/A.
Current consensus DPS estimate is 7.1, implying a prospective dividend yield of 5.3%.
Current consensus EPS estimate suggests the PER is 7.3.
Forecast for FY26:
Jarden forecasts a full year FY26 dividend of 6.38 cents and EPS of 16.13 cents.
At the last closing share price the estimated dividend yield is 4.76%.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 8.31.How do these forecasts compare to market consensus projections?
Current consensus EPS estimate is 24.8, implying annual growth of 34.8%.
Current consensus DPS estimate is 9.8, implying a prospective dividend yield of 7.3%.
Current consensus EPS estimate suggests the PER is 5.4.
This company reports in NZD. All estimates have been converted into AUD by FNArena at present FX values.
Market Sentiment: 0.3
All consensus data are updated until yesterday. FNArena’s consensus calculations require a minimum of three sources
VAU VAULT MINERALS LIMITED
Gold & Silver – Overnight Price: $0.44
Moelis rates ((VAU)) as Buy (1) –
Moelis observes Vault Minerals reported March quarter gold sales of 89.8koz at a realised price of $3,812/oz, below consensus expectations, with all-in-sustaining-costs of $2,553/oz versus consensus of $2,409/oz.
Management’s FY25 sales guidance of 390-410koz at $2,250-$2,450/oz remains unchanged, with confidence in a strong June quarter driven by higher grade ore access at Koth.
Despite the softer quarter, the company retains a robust balance sheet with $625m in cash and bullion and no debt, positioning it well for potential capital returns, the broker believes.
Commentary suggests forward momentum is supported by hedge book roll-off, reduced capital spend at smaller operations, and throughput optimisation at Koth. Buy rating and $0.68 target price are maintained.
This report was published on April 29, 2025.
Target price is $0.68 Current Price is $0.44 Difference: $0.24
If VAU meets the Moelis target it will return approximately 55% (excluding dividends, fees and charges).
Market Sentiment: 1.0
All consensus data are updated until yesterday. FNArena’s consensus calculations require a minimum of three sources
WBC WESTPAC BANKING CORPORATION
Banks – Overnight Price: $32.66
Jarden rates ((WBC)) as Underweight (4) –
Ahead of upcoming banks’ half-yearly results, Jarden notes fundamentals have been set aside in favour of flows and passive in recent weeks, with CommBank ((CBA)) emerging as the most loved stock.
The broker expects net margin compression across all majors except ANZ Bank, due to shifts in deposit mix and lending competition. Buybacks are also seen as less likely as banks’ preference would be to lift CET1 target by 25bps to 11.25-11.75%.
The broker expects Westpac to post net profit of $3.59bn in 1H25, down -1% h/h, mainly due to a -3bps decline in net interest margin. Commentary on top-line growth, updates on UNITE and NIM management will be watched.
Underweight. Target unchanged at $31.
This report was published on April 23, 2025.
Target price is $31.00 Current Price is $32.66 Difference: minus $1.66 (current price is over target).
If WBC meets the Jarden target it will return approximately minus 5% (excluding dividends, fees and charges – negative figures indicate an expected loss).
Current consensus price target is $29.51, suggesting downside of -9.9%(ex-dividends)
The company’s fiscal year ends in September.
Forecast for FY25:
Jarden forecasts a full year FY25 dividend of 168.00 cents and EPS of 200.40 cents.
At the last closing share price the estimated dividend yield is 5.14%.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 16.30.How do these forecasts compare to market consensus projections?
Current consensus EPS estimate is 197.0, implying annual growth of -1.9%.
Current consensus DPS estimate is 155.8, implying a prospective dividend yield of 4.8%.
Current consensus EPS estimate suggests the PER is 16.6.
Forecast for FY26:
Jarden forecasts a full year FY26 dividend of 156.00 cents and EPS of 199.00 cents.
At the last closing share price the estimated dividend yield is 4.78%.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 16.41.How do these forecasts compare to market consensus projections?
Current consensus EPS estimate is 198.3, implying annual growth of 0.7%.
Current consensus DPS estimate is 158.0, implying a prospective dividend yield of 4.8%.
Current consensus EPS estimate suggests the PER is 16.5.
Market Sentiment: -0.5
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: $20.66
Goldman Sachs rates ((WDS)) as Neutral (3) –
Woodside Energy’s first quarter results were broadly in line with Goldman Sachs’ estimates, with Sangomar delivering strong plateau production rates and group production of 49.1mmboe, 1% above forecasts.
Total revenue of US$3.32bn also exceeded the broker’s forecasts by 1%, supported by higher LNG trading margins.
Management maintained full-year 2025 guidance.
The broker notes Sangomar’s strong performance prompted a reserves upgrade, lifting production forecasts towards the upper end of guidance, though Phase 2 development is expected beyond 2030 due to Louisiana LNG funding priorities.
While progress continues towards a final investment decision for Louisiana LNG, tariff uncertainties around imported materials could result in an estimated -US$500m of additional capex, explains Goldman Sachs.
The broker remains Neutral on Woodside Energy citing a full valuation and limited near-term production growth. The target rises to $24.20 from $23.90.
This report was published on April 22, 2025.
Target price is $24.20 Current Price is $20.66 Difference: $3.54
If WDS meets the Goldman Sachs target it will return approximately 17% (excluding dividends, fees and charges).
Current consensus price target is $25.47, suggesting upside of 23.4%(ex-dividends)
The company’s fiscal year ends in December.
Forecast for FY25:
Goldman Sachs forecasts a full year FY25 dividend of 66.08 cents and EPS of 132.17 cents.
At the last closing share price the estimated dividend yield is 3.20%.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 15.63.How do these forecasts compare to market consensus projections?
Current consensus EPS estimate is 155.3, implying annual growth of N/A.
Current consensus DPS estimate is 131.0, implying a prospective dividend yield of 6.3%.
Current consensus EPS estimate suggests the PER is 13.3.
Forecast for FY26:
Goldman Sachs forecasts a full year FY26 dividend of 36.88 cents and EPS of 73.77 cents.
At the last closing share price the estimated dividend yield is 1.79%.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 28.01.How do these forecasts compare to market consensus projections?
Current consensus EPS estimate is 99.8, implying annual growth of -35.7%.
Current consensus DPS estimate is 77.9, implying a prospective dividend yield of 3.8%.
Current consensus EPS estimate suggests the PER is 20.7.
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
Disclaimer:
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.
Decisions about inclusions in this Report are made independently of the providers of stock market research and at full discretion of the team of journalists responsible for content at FNArena. Inclusion does not equal endorsement, in any way, shape or form. This Report is provided for informational purposes only.
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