Australian Broker Call *Extra* Edition – May 12, 2025

This story features EAGERS AUTOMOTIVE LIMITED, and other companies. For more info SHARE ANALYSIS: APE

The company is included in ASX200, ASX300 and ALL-ORDS

An additional news report on the recommendation, valuation, forecast and opinion changes and updates for ASX-listed equities.

In addition to The Australian Broker Call Report, which is published and updated daily (Mon-Fri), FNArena has now added The Australian Broker Call *Extra* Edition, featuring additional sources of research and insights on ASX-listed stocks, also enlarging the number of stocks that make up the FNArena universe.

One key difference is the *Extra* Edition will not be updated daily, but merely “regularly” depending on availability of suitable quality content. As such, the *Extra* Edition tries to build a bridge between daily updates via the Australian Broker Call Report and ad hoc news stories, that are not always timely for investors hungry for the next information update.

Investors using the *Extra* Edition as a source of input for their own share market research should thus take into account that information after publication may not be up to date, or yet awaiting another update by FNArena’s team of journalists.

Similar to The Australian Broker Call Report, this *Extra* Edition includes concise but limited reviews of research recently published by Stockbrokers and other experts, which should be considered as information concerning likely market behaviour rather than advice on the securities mentioned. Do not act on the contents of this Report without first reading the important information included at the end of this Report.

The Australian Broker Call *Extra* Edition is a summary that has been prepared independently of the sources identified. Readers will check the full text of the recommendations and consult a Licenced Advisor before making any investment decision.

The copyright of this Report is owned by the publisher. Readers will not copy, forward or disseminate this Report to any other person. For more vital information about the sources included, see the bottom of this Report.

COMPANIES DISCUSSED IN THIS ISSUE

Click on a symbol for fast access.
The number next to the symbol represents the number of brokers covering it for this report -(if more than 1)

APE   BGL   BMT   BRI   CEN   CPU   FFM (2)   GDG   GNG   GOR   GTK   HGO   JBH   LAM   MGH   MM8   MPL   NAB   NEC   NHF   NWC   NXL   NXT (2)   OML   PEX   RHC   RSG   SDR   SGM   SIG   SLX   SNT   SUL   SXL   TCG   TLX   TPG   WGX   WTC  

APE    EAGERS AUTOMOTIVE LIMITED

Automobiles & Components – Overnight Price: $19.42

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

Canaccord Genuity notes March national vehicle sales rose 1.8% y/y, a very strong result considering the mid-to-high single-digit declines seen in recent months.

In the case of Eagers Automotive, the broker highlights BYD sales were up 3,189 units thanks to Shark 6 and Sealion 6&7 sales, which were not part of last year’s numbers. The analyst expects this to lift 1H25 BYD-related income.

The broker notes Chery and Toyota sales also rose strongly.

Buy. Target maintained at $17.

This report was published on May 5, 2025.

Target price is $17.00 Current Price is $19.42 Difference: minus $2.42 (current price is over target).
If APE 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 $15.56, suggesting downside of -19.9%(ex-dividends)

Forecast for FY25:

Current consensus EPS estimate is 100.9, implying annual growth of 25.8%.
Current consensus DPS estimate is 70.1, implying a prospective dividend yield of 3.6%.
Current consensus EPS estimate suggests the PER is 19.2.

Forecast for FY26:

Current consensus EPS estimate is 106.1, implying annual growth of 5.2%.
Current consensus DPS estimate is 70.5, implying a prospective dividend yield of 3.6%.
Current consensus EPS estimate suggests the PER is 18.3.

Market Sentiment: 0.5
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: $0.97

Canaccord Genuity rates ((BGL)) as Resume at Speculative Buy (-1) –

After a period of research restriction, Canaccord Genuity resumed coverage of Bellevue Gold with Speculative Buy rating.

Following a weak March quarter production of 25koz due to lower grades, the company issued a revised mine plan to replace the previous 5-year plan.

The downgraded FY25 production forecast of 129-134koz is expected to increase to 150koz in FY26, with FY27-29 now targeted at 190kozpa vs FY27-29 of 220-250kozpa before.

The company recently undertook a $156.5m share placement, and has launched a strategic review, stating also that it has received an unsolicited interest.

The broker incorporated lower production and higher cost estimates into its forecasts. Target price $1.50.

This report was published on May 7, 2025.

Target price is $1.50 Current Price is $0.97 Difference: $0.525
If BGL meets the Canaccord Genuity target it will return approximately 54% (excluding dividends, fees and charges).
Current consensus price target is $1.33, suggesting upside of 35.9%(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 2.00 cents.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 48.75.

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 22.7.

Forecast for FY26:

Canaccord Genuity forecasts a full year FY26 dividend of 0.00 cents and EPS of 10.00 cents.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 9.75.

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 9.7.

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

BMT    BEAMTREE HOLDINGS LIMITED

Healthcare services – Overnight Price: $0.26

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

Beamtree Holdings reaffirmed its 20% recurring revenue growth target for FY25, supported by a near-term pipeline of circa $4m in expected contract wins and an additional $5.2m that may be signed around the June 30 balance date.

Petra Capital highlights a projected annual recurring revenue (ARR) of $30.1m and notes potential slippage in timing, prompting a modest forecast downgrade. 

A new NHS initiative, “Evolve Collaborative,” is flagged as a long-term opportunity, with a target go-live before end 2025. First installation of the Integrated Coding Platform in Saudi Arabia is expected by end-May and could add $1m in ARR. Buy rating and $0.50 target price retained.

This report was published on May 7, 2025.

Target price is $0.50 Current Price is $0.26 Difference: $0.24
If BMT meets the Petra Capital target it will return approximately 92% (excluding dividends, fees and charges).
The company’s fiscal year ends in June.

Forecast for FY25:

Petra Capital forecasts a full year FY25 dividend of 0.00 cents and EPS of minus 1.40 cents.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is minus 18.57.

Forecast for FY26:

Petra Capital forecasts a full year FY26 dividend of 0.00 cents and EPS of 0.30 cents.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 86.67.

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

BRI    BIG RIVER INDUSTRIES LIMITED

Building Products & Services – Overnight Price: $1.28

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

Petra Capital highlights a recovery in the housing cycle, supported by March 2025 approvals rising 9.7% year-on-year and December quarter commencements up 2.5%.

Single-family approvals, a key driver for Big River Industries, rose 9.4% year-on-year, now making up 60.8% of total approvals.

Government support through housing policies is expected to sustain volumes, while industry commentary remains cautious due to lag effects.

Petra sees scope for improved earnings (EBITDA) and operating cash flow as activity lifts, with FY26 earnings forecast to grow 62.4%.

Buy rating and $1.78 target price retained.

This report was published on May 7, 2025.

Target price is $1.78 Current Price is $1.28 Difference: $0.5
If BRI meets the Petra Capital target it will return approximately 39% (excluding dividends, fees and charges).
The company’s fiscal year ends in June.

Forecast for FY25:

Petra Capital forecasts a full year FY25 dividend of 3.00 cents and EPS of 4.70 cents.
At the last closing share price the estimated dividend yield is 2.34%.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 27.23.

Forecast for FY26:

Petra Capital forecasts a full year FY26 dividend of 5.00 cents and EPS of 7.60 cents.
At the last closing share price the estimated dividend yield is 3.91%.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 16.84.

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

CEN    CONTACT ENERGY LIMITED

Infrastructure & Utilities – Overnight Price: $8.49

Jarden rates ((CEN)) as Buy (1) –

New Zealand’s Commerce Commission gave the green light for Contact Energy’s proposed acquisition of Manawa Energy. 

Jarden believes this removes a significant hurdle, and the deal will now proceed to court approval and shareholder vote.

The broker sees long-term upside for the stock if wholesale prices remain elevated and synergy guidance is met.

Buy. Target price NZ$11.11.

This report was published on May 7, 2025.

Current Price is $8.49. Target price not assessed.
The company’s fiscal year ends in June.

Forecast for FY25:

Jarden forecasts a full year FY25 dividend of 35.56 cents and EPS of 21.34 cents.
At the last closing share price the estimated dividend yield is 4.19%.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 39.79.

Forecast for FY26:

Jarden forecasts a full year FY26 dividend of 35.56 cents and EPS of 32.37 cents.
At the last closing share price the estimated dividend yield is 4.19%.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 26.23.

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

CPU    COMPUTERSHARE LIMITED

Diversified Financials – Overnight Price: $39.50

Goldman Sachs rates ((CPU)) as Downgrade to Sell from Neutral (5) –

Following a trading update, Goldman Sachs downgrades Computershare to Sell, citing an uncertain earnings outlook and valuation that screens as expensive relative to downside risks. The target falls to $37.50 from $38.94.

FY25 EPS guidance of 135cps was maintained, yet a downgrade to margin income (MI) and potential weakness in transaction-related revenue leave the broker cautious over earnings risks across FY26-27.

The analyst notes MI is potentially a significant headwind due to expected rate cuts, with earnings highly sensitive to yield trends despite partial hedging.

Economic uncertainty could also weigh on corporate action and employee share plan (ESP) revenues, highlights the broker, while the company’s cost-out programs are tapering, limiting near-term margin expansion.

This report was published on May 7, 2025.

Target price is $37.50 Current Price is $39.50 Difference: minus $2 (current price is over target).
If CPU meets the Goldman Sachs target it will return approximately minus 5% (excluding dividends, fees and charges – negative figures indicate an expected loss).
Current consensus price target is $38.89, suggesting downside of -1.6%(ex-dividends)
The company’s fiscal year ends in June.

Forecast for FY25:

Goldman Sachs forecasts a full year FY25 dividend of 93.82 cents and EPS of 209.17 cents.
At the last closing share price the estimated dividend yield is 2.38%.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 18.88.

How do these forecasts compare to market consensus projections?

Current consensus EPS estimate is 212.2, implying annual growth of N/A.
Current consensus DPS estimate is 96.3, implying a prospective dividend yield of 2.4%.
Current consensus EPS estimate suggests the PER is 18.6.

Forecast for FY26:

Goldman Sachs forecasts a full year FY26 dividend of 93.82 cents and EPS of 210.70 cents.
At the last closing share price the estimated dividend yield is 2.38%.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 18.75.

How do these forecasts compare to market consensus projections?

Current consensus EPS estimate is 218.0, implying annual growth of 2.7%.
Current consensus DPS estimate is 101.8, implying a prospective dividend yield of 2.6%.
Current consensus EPS estimate suggests the PER is 18.1.

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

FFM    FIREFLY METALS LIMITED

Gold & Silver – Overnight Price: $0.91

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

Canaccord Genuity notes the latest drilling from FireFly Metals found high-grade copper/gold mineralisation 200 metres deeper than the current resource.

The company plans to expedite drilling with an additional underground rig due in late May. Resource update is expected in 2H2025 and the broker expects it to grow to 80-100Mt, underpinning an upgraded initial economic and engineering study.

Speculative Buy. Target unchanged at $1.95.

This report was published on May 7, 2025.

Target price is $1.95 Current Price is $0.91 Difference: $1.045
If FFM meets the Canaccord Genuity target it will return approximately 115% (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 1.00 cents.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is minus 90.50.

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 90.50.

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

Moelis rates ((FFM)) as Buy (1) –

Firefly Metals’ 3Q25 activity report showed higher exploration expense of $13.6m vs Moelis’ forecast of $12m, prompting the broker to lift FY25-26 exploration expense forecasts.

The latest drilling report pointed to an increase in resource, and the broker has revised resource valuation to include 1.25Mt metal target, up from 1.0Mt previously.

No change to EPS forecasts. Buy. Target unchanged at $1.50.

This report was published on May 7, 2025.

Target price is $1.50 Current Price is $0.91 Difference: $0.595
If FFM meets the Moelis target it will return approximately 66% (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 and EPS of minus 2.80 cents.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is minus 32.32.

Forecast for FY26:

Moelis forecasts a full year FY26 dividend of 0.00 cents and EPS of minus 5.00 cents.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is minus 18.10.

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

GDG    GENERATION DEVELOPMENT GROUP LIMITED

Wealth Management & Investments – Overnight Price: $4.79

Moelis rates ((GDG)) as Buy (1) –

BlackRock took a minority stake in Generation Development by investing $25m and forming a strategic alliance

Under the deal, BlackRock will develop new retirement solutions for Australian retirees using the company’s expertise in retirement income and its own global investment and technology capabilities.

Moelis has incorporated the placement into forecasts but expects the minor dilution to be more than offset by benefits from the deal, which it hasn’t factored in yet. At this stage, the broker has highlighted upside potential as it conducts more analysis.

Buy. Target rises to $5.81 from $5.72.

This report was published on May 8, 2025.

Target price is $5.81 Current Price is $4.79 Difference: $1.02
If GDG meets the Moelis target it will return approximately 21% (excluding dividends, fees and charges).
The company’s fiscal year ends in June.

Forecast for FY25:

Moelis forecasts a full year FY25 dividend of 2.00 cents and EPS of 8.30 cents.
At the last closing share price the estimated dividend yield is 0.42%.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 57.71.

Forecast for FY26:

Moelis forecasts a full year FY26 dividend of 4.70 cents and EPS of 11.50 cents.
At the last closing share price the estimated dividend yield is 0.98%.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 41.65.

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

GNG    GR ENGINEERING SERVICES LIMITED

Mining Sector Contracting – Overnight Price: $2.69

Taylor Collison rates ((GNG)) as Outperform (2) –

Taylor Collison looked into the status of projects of GR Engineering Services’ key clients based on their March quarter reports, noting all projects remain on schedule and within budget.

However, it also noted three projects are in the commissioning stage and waiting for replacement work. To reflect this, the broker cut FY26 revenue forecast to $417m from $467m.

The broker remains confident in the company’s long-term prospects.

Outperform rating maintained. No target was provided.

This report was published on May 6, 2025.

Current Price is $2.69. Target price not assessed.
The company’s fiscal year ends in June.

Forecast for FY25:

Taylor Collison forecasts a full year FY25 dividend of 20.00 cents and EPS of 20.50 cents.
At the last closing share price the estimated dividend yield is 7.43%.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 13.12.

Forecast for FY26:

Taylor Collison forecasts a full year FY26 dividend of 20.00 cents and EPS of 19.40 cents.
At the last closing share price the estimated dividend yield is 7.43%.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 13.87.

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: $3.28

Canaccord Genuity rates ((GOR)) as Downgrade to Hold from Buy (3) –

Canaccord Genuity notes Gold Road Resources has entered into a scheme implementation deed with Gold Fields, which will acquire 100% of the company for $3.40/share.

The deal consists of $2.52/share fixed, and variable linked to Gold Road’s stake in Northern Star Resources ((NXT)) valued at 88c as of May 2.

The broker views the deal as a good outcome as it is a 12% increase from Gold Fields’ initial offer and a 27% premium to the stock’s record high in early March.

Rating downgraded to Hold from Buy. Target cut to $3.40 from $3.45.

This report was published on May 5, 2025.

Target price is $3.40 Current Price is $3.28 Difference: $0.12
If GOR meets the Canaccord Genuity target it will return approximately 4% (excluding dividends, fees and charges).
Current consensus price target is $3.34, suggesting upside of 1.8%(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 1.22%.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 12.15.

How do these forecasts compare to market consensus projections?

Current consensus EPS estimate is 26.8, implying annual growth of 103.3%.
Current consensus DPS estimate is 4.5, implying a prospective dividend yield of 1.4%.
Current consensus EPS estimate suggests the PER is 12.2.

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 1.83%.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 10.25.

How do these forecasts compare to market consensus projections?

Current consensus EPS estimate is 29.8, implying annual growth of 11.2%.
Current consensus DPS estimate is 5.4, implying a prospective dividend yield of 1.6%.
Current consensus EPS estimate suggests the PER is 11.0.

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: $11.28

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

Canaccord Genuity previews a solid 1H25 result for Gentrack, forecasting 8% year-on-year revenue growth to NZ$110m, driven by 8% growth in utilities and 10% in Veovo.

Recurring revenue is expected to rise to NZ$73m, while cash earnings  (EBITDA) are forecast at NZ$21m with a 19% margin.

Management reiterated its medium-term goal of 15%-plus revenue CAGR and EBITDA margins of 1520%.

The broker highlights an expanding sales pipeline supported by SAP’s HANA transition and increased RFP activity, with several new contracts expected to close in 2H25 and FY26.

Buy rating and NZ$14.50 target price retained.

This report was published on May 5, 2025.

Current Price is $11.28. Target price not assessed.
Current consensus price target is $12.93, suggesting upside of 14.7%(ex-dividends)
The company’s fiscal year ends in September.

Forecast for FY25:

Canaccord Genuity forecasts a full year FY25 EPS of 27.99 cents.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 40.30.

How do these forecasts compare to market consensus projections?

Current consensus EPS estimate is 16.7, 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 67.5.

Forecast for FY26:

Canaccord Genuity forecasts a full year FY26 EPS of 26.99 cents.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 41.80.

How do these forecasts compare to market consensus projections?

Current consensus EPS estimate is 25.8, implying annual growth of 54.5%.
Current consensus DPS estimate is N/A, implying a prospective dividend yield of N/A.
Current consensus EPS estimate suggests the PER is 43.7.

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 provided an update on Kanmantoo copper mine for April, and Moelis notes it was in line with what the company had flagged after the March quarter result.

The company is stoping through a lower grade section of the orebody, resulting in lower production of 0.81kt copper in April vs the March quarter average of 0.98kt. However, production outperformance is expected vs the March quarter as the June quarter progresses.

Buy. Target price 7c.

This report was published on May 8, 2025.

Target price is $0.07 Current Price is $0.04 Difference: $0.035
If HGO meets the Moelis target it will return approximately 100% (excluding dividends, fees and charges).

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

JBH    JB HI-FI LIMITED

Consumer Electronics – Overnight Price: $104.24

Jarden rates ((JBH)) as Neutral (3) –

JB Hi-Fi’s 3Q25 sales rose 6% like-for-like, and while strong, Jarden comments it pointed to a slowing in momentum vs a stronger January.

Jarden believes this indicates the retailer lost some market share and made moderate downward revisions to the Q4 forecast.

The commentary explains the downgrade reflects competitive pressures partly offset by replacement cycle expectations and benefits from interest rate cuts.

The broker expects the company to pay a $1 special dividend in 2H, and believes it will likely pursue capital return rather than major M&A.

Neutral. Target cut to $95.50 from $95.80.

This report was published on May 7, 2025.

Target price is $95.50 Current Price is $104.24 Difference: minus $8.74 (current price is over target).
If JBH meets the Jarden target it will return approximately minus 8% (excluding dividends, fees and charges – negative figures indicate an expected loss).
Current consensus price target is $95.66, suggesting downside of -8.2%(ex-dividends)
The company’s fiscal year ends in June.

Forecast for FY25:

Jarden forecasts a full year FY25 dividend of 277.00 cents and EPS of 424.30 cents.
At the last closing share price the estimated dividend yield is 2.66%.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 24.57.

How do these forecasts compare to market consensus projections?

Current consensus EPS estimate is 429.2, implying annual growth of 6.9%.
Current consensus DPS estimate is 307.2, implying a prospective dividend yield of 2.9%.
Current consensus EPS estimate suggests the PER is 24.3.

Forecast for FY26:

Jarden forecasts a full year FY26 dividend of 303.00 cents and EPS of 464.20 cents.
At the last closing share price the estimated dividend yield is 2.91%.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 22.46.

How do these forecasts compare to market consensus projections?

Current consensus EPS estimate is 457.6, implying annual growth of 6.6%.
Current consensus DPS estimate is 312.0, implying a prospective dividend yield of 3.0%.
Current consensus EPS estimate suggests the PER is 22.8.

Market Sentiment: 0.1
All consensus data are updated until yesterday. FNArena’s consensus calculations require a minimum of three sources

LAM    LARAMIDE RESOURCES LIMITED

Uranium – Overnight Price: $0.72

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

US agencies have added Laramide Resources’ La Jara Mesa project to the list of projects to be fast-tracked, and this project is one of two uranium names on the list. 

Canaccord Genuity views this development as material. La Jara Media is not among the company’s two flagship projects, but the broker believes there’s a potential pathway for medium-term cash flows.

There’s also disappointing news, with the broker believing the probability of the Queensland government overturning the mining ban on uranium has reduced following Labor’s win in the federal election.

Buy. Target unchanged at $1.25.

This report was published on May 6, 2025.

Target price is $1.25 Current Price is $0.72 Difference: $0.53
If LAM meets the Canaccord Genuity target it will return approximately 74% (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 minus 7.08 cents.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is minus 10.18.

Forecast for FY26:

Canaccord Genuity forecasts a full year FY26 dividend of 0.00 cents and EPS of minus 7.38 cents.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is minus 9.75.

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

MGH    MAAS GROUP HOLDINGS LIMITED

Building Products & Services – Overnight Price: $4.40

Wilsons rates ((MGH)) as Overweight (1) –

Maas Group reaffirmed FY25 guidance, which Wilsons considers a positive development, given consensus earnings downgrades following the 1H25 result in February.

The broker’s underlying EBITDA forecast for FY25 is $218m, at the low end of the company’s $215-245m range. This raises the potential for upside surprise, the analyst notes, as the construction materials segment could outperform in 2H.

The broker also highlights the residential real estate segment is positioned well for demand recovery.

Overweight. Target unchanged at $4.75.

This report was published on May 8, 2025.

Target price is $4.75 Current Price is $4.40 Difference: $0.35
If MGH meets the Wilsons target it will return approximately 8% (excluding dividends, fees and charges).
The company’s fiscal year ends in June.

Forecast for FY25:

Wilsons forecasts a full year FY25 dividend of 8.50 cents and EPS of 22.90 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 19.21.

Forecast for FY26:

Wilsons forecasts a full year FY26 dividend of 12.50 cents and EPS of 30.50 cents.
At the last closing share price the estimated dividend yield is 2.84%.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 14.43.

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

MM8    MEDALLION METAL LIMITED

Gold & Silver – Overnight Price: $0.25

Canaccord Genuity rates ((MM8)) as Speculative Buy (1) –

Canaccord Genuity provides a positive update on Medallion Metals following amendments to the Forrestania transaction with IGO Ltd ((IGO)).

Medallion will now acquire full legal and beneficial ownership of the Forrestania tenements, plant and infrastructure with no upfront or deferred cash, aside from a royalty on future gold production.

The broker highlights potential for regional gold development beyond processing, with comparisons drawn to the Mt Holland Bounty Mine.

Medallion has completed 15,000m of a 17,000m drill program ahead of a mineral resource update and a bankable feasibility study in 1H 2025.

The final investment decision and transaction completion are targeted for late 2025. Speculative Buy rating and $0.65 target price retained.

This report was published on May 5, 2025.

Target price is $0.65 Current Price is $0.25 Difference: $0.4
If MM8 meets the Canaccord Genuity target it will return approximately 160% (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

MPL    MEDIBANK PRIVATE LIMITED

Insurance – Overnight Price: $4.71

Jarden rates ((MPL)) as Neutral (3) –

Jarden assesses Medibank Private’s 3Q25 update as positive, with the insurer’s resident business growing in line with the system and non-resident showing rising momentum.

The company reiterated guidance for FY25 claims per unit growth of 2.4%-2.6%. However, with commentary suggesting moderation of inflation pressure and other positive trends, the broker lowered the FY25 claims forecast to 2.4% from 2.5%.

The broker also pushed up the forecast for 2H resident unit revenue growth rate to 2% vs 0.7% in 1H, and for non-resident business to 15% from 10%.

Neutral. Target rises to $4.45 from $4.30.

This report was published on May 11, 2025.

Target price is $4.45 Current Price is $4.71 Difference: minus $0.26 (current price is over target).
If MPL meets the Jarden target it will return approximately minus 6% (excluding dividends, fees and charges – negative figures indicate an expected loss).
Current consensus price target is $4.67, suggesting downside of -0.8%(ex-dividends)
The company’s fiscal year ends in June.

Forecast for FY25:

Jarden forecasts a full year FY25 dividend of 17.80 cents and EPS of 19.70 cents.
At the last closing share price the estimated dividend yield is 3.78%.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 23.91.

How do these forecasts compare to market consensus projections?

Current consensus EPS estimate is 22.3, implying annual growth of 24.7%.
Current consensus DPS estimate is 17.4, implying a prospective dividend yield of 3.7%.
Current consensus EPS estimate suggests the PER is 21.1.

Forecast for FY26:

Jarden forecasts a full year FY26 dividend of 18.70 cents and EPS of 23.20 cents.
At the last closing share price the estimated dividend yield is 3.97%.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 20.30.

How do these forecasts compare to market consensus projections?

Current consensus EPS estimate is 23.5, implying annual growth of 5.4%.
Current consensus DPS estimate is 18.6, implying a prospective dividend yield of 3.9%.
Current consensus EPS estimate suggests the PER is 20.0.

Market Sentiment: 0.3
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: $36.53

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

Jarden’s reaction to National Australia Bank’s 1H25 result lacks any positive comment, with the broker noting the net interest margin (NIM) trend is down, asset quality is worsening, and further capital action is unlikely.

Core profit was up 1.9% sequentially, but the broker sees it as a -5% miss, given ex-markets profit was down -3.2%. NIM came in at 1.70%, but without solid contribution from markets segment, it was down -3bps.

The analyst wonders if the bank is understating cost base by -$250m as capitalisation of spend has risen to 60% from 40% in FY20-21, and compares with the peer average of 36%.

The broker lifted FY25 EPS forecast by 0.3% but cut FY26 by -2%.

Underweight. Target cut to $29 from $30.

This report was published on May 7, 2025.

Target price is $29.00 Current Price is $36.53 Difference: minus $7.53 (current price is over target).
If NAB meets the Jarden target it will return approximately minus 21% (excluding dividends, fees and charges – negative figures indicate an expected loss).
Current consensus price target is $33.17, suggesting downside of -9.2%(ex-dividends)
The company’s fiscal year ends in September.

Forecast for FY25:

Jarden forecasts a full year FY25 dividend of 171.00 cents and EPS of 226.10 cents.
At the last closing share price the estimated dividend yield is 4.68%.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 16.16.

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 170.0, implying a prospective dividend yield of 4.7%.
Current consensus EPS estimate suggests the PER is 16.2.

Forecast for FY26:

Jarden forecasts a full year FY26 dividend of 173.00 cents and EPS of 226.70 cents.
At the last closing share price the estimated dividend yield is 4.74%.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 16.11.

How do these forecasts compare to market consensus projections?

Current consensus EPS estimate is 225.4, implying annual growth of 0.2%.
Current consensus DPS estimate is 171.0, implying a prospective dividend yield of 4.7%.
Current consensus EPS estimate suggests the PER is 16.2.

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

NEC    NINE ENTERTAINMENT CO. HOLDINGS LIMITED

Print, Radio & TV – Overnight Price: $1.58

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

Goldman Sachs notes Nine Entertainment was cautious about the outlook for 4Q25 TV ad revenue despite the benefit in April from election spend and 3Q coming in line with expectations.

The broker lowered 2H25 total TV revenue growth to 5%, after factoring in flat growth in May and June.

Metro Publishing earnings outlook was upgraded but Stan was unchanged, and the company also reaffirmed longer term cost management programs.

Overall, the broker cut FY25-27 EBITDA forecasts by -1-2%. Buy. Target cut to $1.75 from $1.80.

This report was published on May 7, 2025.

Target price is $1.75 Current Price is $1.58 Difference: $0.17
If NEC meets the Goldman Sachs target it will return approximately 11% (excluding dividends, fees and charges).
Current consensus price target is $1.82, suggesting upside of 15.0%(ex-dividends)
The company’s fiscal year ends in June.

Forecast for FY25:

Goldman Sachs forecasts a full year FY25 dividend of 7.00 cents and EPS of 9.40 cents.
At the last closing share price the estimated dividend yield is 4.43%.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 16.81.

How do these forecasts compare to market consensus projections?

Current consensus EPS estimate is 9.7, implying annual growth of 41.2%.
Current consensus DPS estimate is 6.5, implying a prospective dividend yield of 4.1%.
Current consensus EPS estimate suggests the PER is 16.3.

Forecast for FY26:

Goldman Sachs forecasts a full year FY26 dividend of 9.00 cents and EPS of 12.00 cents.
At the last closing share price the estimated dividend yield is 5.70%.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 13.17.

How do these forecasts compare to market consensus projections?

Current consensus EPS estimate is 13.1, implying annual growth of 35.1%.
Current consensus DPS estimate is 9.5, implying a prospective dividend yield of 6.0%.
Current consensus EPS estimate suggests the PER is 12.1.

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

NHF    NIB HOLDINGS LIMITED

Insurance – Overnight Price: $6.90

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

Management at nib Holdings has retained FY25 underlying operating profit (UOP) guidance of $235-250m, but warns this may be hard to achieve given expected 2H losses in its New Zealand business, observes Goldman Sachs.

Pressure in NZ is being partially offset by strong margins in Australian Resident Health Insurance (ARHI) and disciplined expense control, explains the broker.

While Australian Residents Health Insurance (ARHI) policyholder growth remains on track, NZ earnings guidance was downgraded as claims inflation reached 26% year-to-date, highlight the analysts.

The latter was driven by longer public hospital wait times and increased private utilisation.

Management is responding with premium hikes of 20-30% and product repricing. Strategic options are also being explored for the Travel segment following leadership changes, notes Goldman.

The price target rises to $7.20 from $7.00 and the Buy rating is kept. The broker points to valuation appeal and upside from margin recovery and repricing in New Zealand.

This report was published on May 9, 2025.

Target price is $7.20 Current Price is $6.90 Difference: $0.3
If NHF meets the Goldman Sachs target it will return approximately 4% (excluding dividends, fees and charges).
Current consensus price target is $6.89, suggesting downside of -0.1%(ex-dividends)
The company’s fiscal year ends in June.

Forecast for FY25:

Goldman Sachs forecasts a full year FY25 dividend of 27.00 cents and EPS of 37.00 cents.
At the last closing share price the estimated dividend yield is 3.91%.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 18.65.

How do these forecasts compare to market consensus projections?

Current consensus EPS estimate is 41.8, implying annual growth of 9.1%.
Current consensus DPS estimate is 27.4, implying a prospective dividend yield of 4.0%.
Current consensus EPS estimate suggests the PER is 16.5.

Forecast for FY26:

Goldman Sachs forecasts a full year FY26 dividend of 29.00 cents and EPS of 45.00 cents.
At the last closing share price the estimated dividend yield is 4.20%.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 15.33.

How do these forecasts compare to market consensus projections?

Current consensus EPS estimate is 46.1, implying annual growth of 10.3%.
Current consensus DPS estimate is 30.3, implying a prospective dividend yield of 4.4%.
Current consensus EPS estimate suggests the PER is 15.0.

Market Sentiment: 0.0
All consensus data are updated until yesterday. FNArena’s consensus calculations require a minimum of three sources

NWC    NEW WORLD RESOURCES LIMITED

Copper – Overnight Price: $0.03

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

New World Resources has grown the Antler resource by 25% to 14.2Mt at 3.8% CuEq, with 88% now in measured and indicated categories to support the definitive feasability study due December 2025, Canaccord Genuity observes.

The Arizona-based underground project is forecast to produce 30kt CuEq p.a. over 12 years, with key revenue from copper (46%) and zinc (30%), and by-products gold, silver, and lead.

The broker assumes capex at -US$350m, higher than the -US$298m in the preliminary feasibility study , and assumes C1 cost of US$2.30/lb and all-in-sustaining-costs of US$2.60/lb.

Permitting may accelerate under US emergency energy declarations, the analyst explains, with approvals expected by March 2026.

Speculative Buy rating and 7c target price retained.

This report was published on May 5, 2025.

Target price is $0.07 Current Price is $0.03 Difference: $0.04
If NWC meets the Canaccord Genuity target it will return approximately 133% (excluding dividends, fees and charges).
The company’s fiscal year ends in June.

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

NXL    NUIX LIMITED

Software & Services – Overnight Price: $2.27

Moelis rates ((NXL)) as Hold (3) –

After lowering its FY25 guidance on annualised contract value growth in early April, Nuix has now withdrawn it, including targets on revenue, operating cost and cashflow.

The company said clients were reluctant to enter new deals in the current uncertain times.

Moelis lowered FY25 EBITDA forecast by -4.3% and the FY26 estimate by -10.3%. EPS forecasts for FY25-26 have also been cut sharply.

Hold. Target cut to $2.50 from $3.07.

This report was published on May 6, 2025.

Target price is $2.50 Current Price is $2.27 Difference: $0.23
If NXL meets the Moelis target it will return approximately 10% (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 and EPS of 1.50 cents.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 151.33.

Forecast for FY26:

Moelis forecasts a full year FY26 dividend of 0.00 cents and EPS of 3.60 cents.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 63.06.

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

NXT    NEXTDC LIMITED

Cloud services – Overnight Price: $13.57

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

NextDC announced its contracted capacity rose by a sharp 30% or 52MW since December 2024, following new client wins.

New clients are mostly in Victoria, and Canaccord Genuity highlights it leaves the company with 127MW of forward contracts to be billed from FY27, with full run-rate from FY28.

The company raised its FY25 capex guidance by -$100m to -$1.4-1.6bn, and Canaccord Genuity notes it has $2.5bn liquidity at disposal from cash and undrawn debt.

The broker made no changes to forecasts for FY25-26, and only a modest revision to FY27.

However, it lifted the valuation to incorporate the new contracts, resulting in target price rising to $20.15 from $18.85. Buy retained.

This report was published on May 6, 2025.

Target price is $20.15 Current Price is $13.57 Difference: $6.58
If NXT meets the Canaccord Genuity target it will return approximately 48% (excluding dividends, fees and charges).
Current consensus price target is $19.50, suggesting upside of 43.7%(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 4.60 cents.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is minus 295.00.

How do these forecasts compare to market consensus projections?

Current consensus EPS estimate is -7.7, 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 minus 14.20 cents.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is minus 95.56.

How do these forecasts compare to market consensus projections?

Current consensus EPS estimate is -16.5, 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: 1.0
All consensus data are updated until yesterday. FNArena’s consensus calculations require a minimum of three sources

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

Goldman Sachs highlights NextDC’s latest 52MW AI-focused contract win at M3 as a key positive, underwriting strong earnings growth out to FY28.

The broker sees potential for further large-scale deals in 2025 given an additional 50MW in planning across other sites. Robust capex guidance from global peers like Meta and Amazon is also noted, supporting sector-wide demand momentum.

Goldman upgrades FY27 revenue and earnings (EBITDA) forecasts by 3% on a marginally faster-than-expected ramp from the new contract. Yet, EPS forecasts are lowered due to the acceleration in capex.

Despite ongoing EPS losses, the stock remains attractive on valuation, suggest the analysts.

Goldman raises its target price to $16.50 from $14.70 and retains a Buy rating, citing strong contracted growth and attractive valuation relative to peers.

This report was published on May 6, 2025.

Target price is $16.50 Current Price is $13.57 Difference: $2.93
If NXT meets the Goldman Sachs target it will return approximately 22% (excluding dividends, fees and charges).
Current consensus price target is $19.50, suggesting upside of 43.7%(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 9.00 cents.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is minus 150.78.

How do these forecasts compare to market consensus projections?

Current consensus EPS estimate is -7.7, 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:

Goldman Sachs forecasts a full year FY26 dividend of 0.00 cents and EPS of minus 28.00 cents.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is minus 48.46.

How do these forecasts compare to market consensus projections?

Current consensus EPS estimate is -16.5, 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: 1.0
All consensus data are updated until yesterday. FNArena’s consensus calculations require a minimum of three sources

OML    OOH!MEDIA LIMITED

Out of Home Advertising – Overnight Price: $1.66

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

Goldman Sachs highlights oOh!media delivered 13% growth in 1Q25 and expects to maintain similar growth in 2Q on improved market share gains.

The broker lifted FY25 revenue growth forecast to 10% from 8% following the update, noting it recently won Transurban’s ((TCL)) premium Melbourne and Brisbane motorway billboards contract. 

FY25-27 EBITDA forecasts increased by 3%. Neutral. Target rises to $1.55 from $1.50.

This report was published on May 7, 2025.

Target price is $1.55 Current Price is $1.66 Difference: minus $0.11 (current price is over target).
If OML meets the Goldman Sachs target it will return approximately minus 7% (excluding dividends, fees and charges – negative figures indicate an expected loss).
The company’s fiscal year ends in December.

Forecast for FY25:

Goldman Sachs forecasts a full year FY25 dividend of 7.00 cents and EPS of 13.50 cents.
At the last closing share price the estimated dividend yield is 4.22%.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 12.30.

Forecast for FY26:

Goldman Sachs forecasts a full year FY26 dividend of 7.00 cents and EPS of 15.10 cents.
At the last closing share price the estimated dividend yield is 4.22%.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 10.99.

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

PEX    PEEL MINING LIMITED

Mining – Overnight Price: $0.07

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

Peel Mining has completed most of the pre-feasibility study for its 100%-owned South Cobar Project in NSW, which is underpinned by the Mallee Bull and Wirlong copper deposits.

Canaccord Genuity notes recent shallow copper-gold drilling success at Wagga Tank has led to a reassessment of monetisation options that could lower capital intensity and development timelines.

The South Cobar resource totals 22.9Mt at 2.6% Cu-equivalent, with 235kt Cu, 271koz Au, and 25Moz Ag in metal.

The broker highlights a revised open pit resource at Wagga Tank includes 3.56Mt at 1.82% Cu-equivalent and could present near-term processing alternatives.

Exploration is ongoing, with drilling planned at the Chuchi Au-Cu target nearby.

Canaccord Genuity has removed the production scenario from its valuation model, reducing the target price to $0.17 from $0.40.

Speculative Buy retained.

This report was published on May 5, 2025.

Target price is $0.17 Current Price is $0.07 Difference: $0.1
If PEX meets the Canaccord Genuity target it will return approximately 143% (excluding dividends, fees and charges).

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

RHC    RAMSAY HEALTH CARE LIMITED

Healthcare services – Overnight Price: $36.68

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

Goldman Sachs has analysed parts of Medibank Private’s ((MPL)) business update for its implications for Ramsay Health Care.

Medibank’s hospital claims saw a pick up in March quarter, though it is still below expectations. This aligns with the broker’s forecast for strong revenue growth for the company in 2H25 of 5.6% vs 4.8% in 1H.

Medibank notes an increase in private hospital indexation in line with expectations. The broker is forecasting an increase in price growth for the company but expects labour cost pressures to persist, noting recent updates on enterprise agreements.

Neutral. Target $38.70.

This report was published on May 6, 2025.

Target price is $38.70 Current Price is $36.68 Difference: $2.02
If RHC meets the Goldman Sachs target it will return approximately 6% (excluding dividends, fees and charges).
Current consensus price target is $38.16, suggesting upside of 4.0%(ex-dividends)
The company’s fiscal year ends in June.

Forecast for FY25:

Goldman Sachs forecasts a full year FY25 dividend of 75.00 cents and EPS of minus 5.00 cents.
At the last closing share price the estimated dividend yield is 2.04%.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is minus 733.60.

How do these forecasts compare to market consensus projections?

Current consensus EPS estimate is 121.8, implying annual growth of -68.1%.
Current consensus DPS estimate is 71.4, implying a prospective dividend yield of 1.9%.
Current consensus EPS estimate suggests the PER is 30.1.

Forecast for FY26:

Goldman Sachs forecasts a full year FY26 dividend of 1.02 cents and EPS of 1.41 cents.
At the last closing share price the estimated dividend yield is 0.03%.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 2601.42.

How do these forecasts compare to market consensus projections?

Current consensus EPS estimate is 158.9, implying annual growth of 30.5%.
Current consensus DPS estimate is 101.4, implying a prospective dividend yield of 2.8%.
Current consensus EPS estimate suggests the PER is 23.1.

Market Sentiment: 0.0
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: $0.60

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

Canaccord Genuity raises its target price for Resolute Mining to $1.40 from $1.00, following the completion of the Doropo and ABC gold project acquisitions in Cote d’Ivoire.

The broker sees the Doropo project as highly NAV-accretive with first production targeted for late 2028, supporting group output growth to over 500koz by 2029 and lowering group all-in-sustaining-costs by -10%.

Funding is expected to be covered by internal cash flows and potentially $250m in project debt. The analyst sees the “African discount” overdone and anticipates a re-rating as Doropo and Syama expansion progress. Buy rating retained.

This report was published on May 5, 2025.

Target price is $1.40 Current Price is $0.60 Difference: $0.8
If RSG meets the Canaccord Genuity target it will return approximately 133% (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 13.84 cents.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 4.33.

Forecast for FY26:

Canaccord Genuity forecasts a full year FY26 dividend of 0.00 cents and EPS of 19.99 cents.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 3.00.

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

SDR    SITEMINDER LIMITED

Travel, Leisure & Tourism – Overnight Price: $3.95

Jarden rates ((SDR)) as Buy (1) –

Jarden has moderated its forecasts for SiteMinder based on downgraded updates by other travel-related businesses.

The broker also considered the company’s recent update pointing to 22% y/y growth in annual recurring revenue at the end of FY25, which seems optimistic compared with the consensus estimate.

At the same time, the broker highlights risks to the forecasts, and especially to free cash flow, are to the upside if the business shows resilience to global travel slowing.

Importantly, the broker reminds the company is less impacted by weaker corporate spending because of its exposure to small and medium businesses.

EBITDA forecasts for FY25-27 cut by -9-19%. Buy. Target cut to $4.45 from $6.75.

This report was published on May 7, 2025.

Target price is $4.45 Current Price is $3.95 Difference: $0.5
If SDR meets the Jarden target it will return approximately 13% (excluding dividends, fees and charges).
Current consensus price target is $6.68, suggesting upside of 69.2%(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 7.60 cents.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is minus 51.97.

How do these forecasts compare to market consensus projections?

Current consensus EPS estimate is -4.9, implying annual growth of N/A.
Current consensus DPS estimate is N/A, implying a prospective dividend yield of N/A.
Current consensus EPS estimate suggests the PER is N/A.

Forecast for FY26:

Jarden forecasts a full year FY26 dividend of 0.00 cents and EPS of minus 4.40 cents.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is minus 89.77.

How do these forecasts compare to market consensus projections?

Current consensus EPS estimate is 1.0, 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 395.0.

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

SGM    SIMS LIMITED

Steel & Scrap – Overnight Price: $15.42

Jarden rates ((SGM)) as Neutral (3) –

An update from Sims at a local conference (read: Macquarie) described the North American business as resilient and the Australia/NZ business as continuing to perform well.

Jarden was pleased volumes remain healthy even in the face of macro uncertainty and despite the company’s focus on “profitable” volumes.

The broker views cost inflation as a headwind in the near term, while retaining a positive outlook for the longer term. Sims Life Services is on track for $30m EBIT in FY25, close to the broker’s $29m forecast.

FY25 EPS forecast was downgraded by -2% on higher North American costs, partly offset by higher EBIT forecast in Australia/NZ.

Neutral. Target cut to $14.70 from $14.80.

This report was published on May 7, 2025.

Target price is $14.70 Current Price is $15.42 Difference: minus $0.72 (current price is over target).
If SGM 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 $13.92, suggesting downside of -9.7%(ex-dividends)
The company’s fiscal year ends in June.

Forecast for FY25:

Jarden forecasts a full year FY25 dividend of 25.40 cents and EPS of 39.10 cents.
At the last closing share price the estimated dividend yield is 1.65%.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 39.44.

How do these forecasts compare to market consensus projections?

Current consensus EPS estimate is 46.1, implying annual growth of N/A.
Current consensus DPS estimate is 21.8, implying a prospective dividend yield of 1.4%.
Current consensus EPS estimate suggests the PER is 33.4.

Forecast for FY26:

Jarden forecasts a full year FY26 dividend of 46.90 cents and EPS of 69.70 cents.
At the last closing share price the estimated dividend yield is 3.04%.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 22.12.

How do these forecasts compare to market consensus projections?

Current consensus EPS estimate is 88.7, implying annual growth of 92.4%.
Current consensus DPS estimate is 34.3, implying a prospective dividend yield of 2.2%.
Current consensus EPS estimate suggests the PER is 17.4.

Market Sentiment: 0.1
All consensus data are updated until yesterday. FNArena’s consensus calculations require a minimum of three sources

SIG    SIGMA HEALTHCARE LIMITED

Health & Nutrition – Overnight Price: $3.02

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

Following an update from Sigma Healthcare after the completion of the merger with Chemist Warehouse, Goldman Sachs left the FY25 normalised EBIT forecast unchanged at $811m. FY26-27 forecasts are unchanged too.

The broker believes the update showed 3Q25 sales growth in Chemist Warehouse were strong and largely consistent with the 1H25 growth rate.

The broker assumes a limited transaction cost impact for the rest of FY25. Neutral. Target unchanged at $2.70.

This report was published on May 7, 2025.

Target price is $2.70 Current Price is $3.02 Difference: minus $0.32 (current price is over target).
If SIG meets the Goldman Sachs target it will return approximately minus 11% (excluding dividends, fees and charges – negative figures indicate an expected loss).
Current consensus price target is $2.96, suggesting downside 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 0.00 cents and EPS of 5.00 cents.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 60.40.

How do these forecasts compare to market consensus projections?

Current consensus EPS estimate is 4.0, implying annual growth of 809.1%.
Current consensus DPS estimate is 1.3, implying a prospective dividend yield of 0.4%.
Current consensus EPS estimate suggests the PER is 75.5.

Forecast for FY26:

Goldman Sachs forecasts a full year FY26 dividend of 4.00 cents and EPS of 5.00 cents.
At the last closing share price the estimated dividend yield is 1.32%.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 60.40.

How do these forecasts compare to market consensus projections?

Current consensus EPS estimate is 6.1, implying annual growth of 52.5%.
Current consensus DPS estimate is 3.7, implying a prospective dividend yield of 1.2%.
Current consensus EPS estimate suggests the PER is 49.5.

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

SLX    SILEX SYSTEMS LIMITED

Uranium – Overnight Price: $2.95

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

Silex Systems’ TRL-6 commercial-scale pilot demonstration testing is now expected to be completed by the end of 2025 vs mid-2025 targeted before.

Additionally, Canaccord Genuity notes, Global Laser Enrichment (50% Silex) received initial US$0.5m funding from the US Department of Energy (DOE) under the low-enriched uranium program.

The analyst flagged there’s potential to get an additional US$24m under another DOE program, the outcome of which is expected in the coming months.

Apart from funding, commentary suggests the focus in the next few months will be on optimising TRL-6 performance, additional modifications and accumulating data to fulfill its validation.

Speculative Buy. Target unchanged at $6.46.

This report was published on May 6, 2025.

Target price is $6.46 Current Price is $2.95 Difference: $3.51
If SLX meets the Canaccord Genuity target it will return approximately 119% (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 4.15 cents.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 71.03.

Forecast for FY26:

Canaccord Genuity forecasts a full year FY26 dividend of 0.00 cents and EPS of 0.92 cents.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 319.61.

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

SNT    SYNTARA LIMITED

Pharmaceuticals & Biotech/Lifesciences – Overnight Price: $0.07

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

Canaccord Genuity notes Syntara will present the latest 12-month myelofibrosis study data at the European Haematology Association conference on June 15.

The broker highlights positive data would encourage the company to take the results to the US FDA.

The analyst sees potential for an upside surprise, given recent discussions with key opinion leaders pointed to a favourable outlook for SNT-5505, mainly in earlier-stage myelofibrosis patients.

The broker also sees it increasingly likely the company could use the SVR25 data instead of SVR35, which effectively means a lower hurdle.

Buy. Target unchanged at 25c.

This report was published on May 6, 2025.

Target price is $0.25 Current Price is $0.07 Difference: $0.183
If SNT meets the Canaccord Genuity target it will return approximately 273% (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

SUL    SUPER RETAIL GROUP LIMITED

Automobiles & Components – Overnight Price: $14.14

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

Super Retail’s like-for-like sales growth in 2H25 to-date was 3.1%, accelerating from 1.8% in 1H, but momentum slowed vs the previous update in February. Jarden notes sales at Rebel, BCF, and MacPac brands moderated while SUA was stable.

The broker cut FY25 EPS forecast by -3.2% and FY26 by -6.6% to reflect softer sales trends, higher costs in FY26 and -100bps decline in gross margin in 2H based on the company’s update.

DPS forecast for FY25 was lifted to account for an expectation of 50c special dividend.

Overweight. Target cut to $14.80 from $15.70.

This report was published on May 7, 2025.

Target price is $14.80 Current Price is $14.14 Difference: $0.66
If SUL meets the Jarden target it will return approximately 5% (excluding dividends, fees and charges).
Current consensus price target is $15.46, suggesting upside of 9.3%(ex-dividends)
The company’s fiscal year ends in June.

Forecast for FY25:

Jarden forecasts a full year FY25 dividend of 116.00 cents and EPS of 92.40 cents.
At the last closing share price the estimated dividend yield is 8.20%.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 15.30.

How do these forecasts compare to market consensus projections?

Current consensus EPS estimate is 99.1, implying annual growth of -6.8%.
Current consensus DPS estimate is 88.4, implying a prospective dividend yield of 6.3%.
Current consensus EPS estimate suggests the PER is 14.3.

Forecast for FY26:

Jarden forecasts a full year FY26 dividend of 72.00 cents and EPS of 98.10 cents.
At the last closing share price the estimated dividend yield is 5.09%.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 14.41.

How do these forecasts compare to market consensus projections?

Current consensus EPS estimate is 108.1, implying annual growth of 9.1%.
Current consensus DPS estimate is 79.7, implying a prospective dividend yield of 5.6%.
Current consensus EPS estimate suggests the PER is 13.1.

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

SXL    SOUTHERN CROSS MEDIA GROUP LIMITED

Print, Radio & TV – Overnight Price: $0.71

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

In a trading update, Southern Cross Media announced strong revenue growth of 9% y/y in the first four months of calendar 2025. The company also said it will resume dividends with a final dividend in FY25.

Additionally, the company is now selling remaining regional TV assets to Seven West Media ((SWM)) after the initial sale agreement fell through. The sale price is unchanged at $3.75m.

Canaccord Genuity has revised upwards 2H25 revenue growth forecast to 7% y/y from 5% previous forecast, noting revenue will cool off in the remaining two months of 2H. The broker also upgraded the dividend estimate.

Buy. Target rises to $1.08 from $0.96.

This report was published on May 6, 2025.

Target price is $1.08 Current Price is $0.71 Difference: $0.37
If SXL meets the Canaccord Genuity target it will return approximately 52% (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 2.60 cents and EPS of 7.00 cents.
At the last closing share price the estimated dividend yield is 3.66%.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 10.14.

Forecast for FY26:

Canaccord Genuity forecasts a full year FY26 dividend of 8.00 cents and EPS of 11.00 cents.
At the last closing share price the estimated dividend yield is 11.27%.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 6.45.

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

TCG    TURACO GOLD LIMITED

Gold & Silver – Overnight Price: $0.45

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

The results of updated test work at Turaco Gold’s three deposits at the Afema gold project revealed an improvement in gold recoveries, Canaccord Genuity comments.

The company is expected to publish an interim resource update in the coming weeks, and the broker estimates inclusion of the latest result will push the resource over the 3Moz mark.

Speculative Buy. Target unchanged at 80c. The broker flags upside risk to its base case valuation.

This report was published on May 5, 2025.

Target price is $0.80 Current Price is $0.45 Difference: $0.35
If TCG meets the Canaccord Genuity target it will return approximately 78% (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 minus 2.00 cents.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is minus 22.50.

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 45.00.

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

TLX    TELIX PHARMACEUTICALS LIMITED

Pharmaceuticals & Biotech/Lifesciences – Overnight Price: $26.80

Wilsons rates ((TLX)) as Overweight (1) –

Telix Pharmaceuticals’ competitor Lantheus reported 1Q25 results where revenue of US$257.7m missed Wilsons’ forecast by -5%.

The broker estimates Lantheus lost -200bps of market share and cited competitive disruption as a reason. Telix pharma’s 1Q25 revenue, on the other hand, was 5% ahead of the broker’s forecast due mainly to stronger debut of RLS radiopharmacies.

The broker believes Lantheus’ result confirms its positive outlook for Telix Pharma’s and Illuccix/Goellix are well-positioned to gain more market share as the PSMA market continues to expand.

Overweight. Target unchanged at $35.

The broker previously flagged it will update forecasts after the company releases USD-denominated historical forecasts.

This report was published on May 8, 2025.

Target price is $35.00 Current Price is $26.80 Difference: $8.2
If TLX meets the Wilsons target it will return approximately 31% (excluding dividends, fees and charges).
The company’s fiscal year ends in December.

Forecast for FY25:

Wilsons forecasts a full year FY25 dividend of 0.00 cents and EPS of 31.20 cents.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 85.90.

Forecast for FY26:

Wilsons forecasts a full year FY26 dividend of 0.00 cents and EPS of 58.80 cents.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 45.58.

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

TPG    TPG TELECOM LIMITED

Telecommunication – Overnight Price: $5.20

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

Jarden highlights TPG Telecom’s update at the AGM about strong momentum in the new postpaid customers’ business. February-April additions were up 40% y/y and point to 230,000 additions in 1H25.

The broker expects the improved network could also reduce customer churn, noting every -1% decline in customer churn adds 28,000 to the full year estimate, and a 1% increase to FY25 EPS.

The company said the Fibre/EGW sales to Vocus in due for completion in Q3, but the broker thinks the risk is for a delay, given the complexity in the transaction.

No change to forecasts. Overweight. Target unchanged at $5.10.

This report was published on May 7, 2025.

Target price is $5.10 Current Price is $5.20 Difference: minus $0.1 (current price is over target).
If TPG 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 $4.79, suggesting downside of -7.9%(ex-dividends)
The company’s fiscal year ends in December.

Forecast for FY25:

Jarden forecasts a full year FY25 dividend of 19.00 cents and EPS of 17.60 cents.
At the last closing share price the estimated dividend yield is 3.65%.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 29.55.

How do these forecasts compare to market consensus projections?

Current consensus EPS estimate is 19.0, implying annual growth of N/A.
Current consensus DPS estimate is 18.7, implying a prospective dividend yield of 3.6%.
Current consensus EPS estimate suggests the PER is 27.4.

Forecast for FY26:

Jarden forecasts a full year FY26 dividend of 21.00 cents and EPS of 21.70 cents.
At the last closing share price the estimated dividend yield is 4.04%.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 23.96.

How do these forecasts compare to market consensus projections?

Current consensus EPS estimate is 23.6, implying annual growth of 24.2%.
Current consensus DPS estimate is 19.5, implying a prospective dividend yield of 3.8%.
Current consensus EPS estimate suggests the PER is 22.0.

Market Sentiment: -0.1
All consensus data are updated until yesterday. FNArena’s consensus calculations require a minimum of three sources

WGX    WESTGOLD RESOURCES LIMITED

Gold & Silver – Overnight Price: $2.91

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

Westgold Resources’ 3Q25 production fell short of Canaccord Genuity’s forecast by -4% while cost was 9% higher vs the broker’s estimate. Revenue also missed the broker’s forecast.

The company reaffirmed FY25 guidance of 330-350koz at a cost of $2,400-2,600/oz. The broker, however, cut FY25 production forecast by -1% to 329koz and lifted the cost estimate by 2%, and for FY26, it cut the production forecast by -10% and raised the cost by 5%.

The broker’s forecasts assume a more conservative ramp-up at Beta Hunt, Bluebird-South and Great Fingall. 

Target price cut to $4.40 from $4.85. Buy retained.

This report was published on May 5, 2025.

Target price is $4.40 Current Price is $2.91 Difference: $1.49
If WGX meets the Canaccord Genuity target it will return approximately 51% (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 3.00 cents and EPS of 19.00 cents.
At the last closing share price the estimated dividend yield is 1.03%.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 15.32.

Forecast for FY26:

Canaccord Genuity forecasts a full year FY26 dividend of 3.00 cents and EPS of 52.00 cents.
At the last closing share price the estimated dividend yield is 1.03%.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 5.60.

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

WTC    WISETECH GLOBAL LIMITED

Cloud services – Overnight Price: $96.21

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

WiseTech Global provided a trading update and Goldman Sachs’ initial assessment is the implied delay in Customer Transport Optimisation launch would be negative for FY25 organic revenue.

The company is developing a new commercial model, which would be beneficial if simplified, as customers find the current pricing models complex. The company didn’t revise FY25 guidance but flagged that current uncertainty could impact revenue.

Forecast from Drewry for -1% decline in 2025 container volumes was highlighted, and the broker highlights the in-house forecast for international revenues to be down -2% y/y in 2025 based on UPS insights.

Buy. Target unchanged at $128.

This report was published on May 6, 2025.

Target price is $128.00 Current Price is $96.21 Difference: $31.79
If WTC meets the Goldman Sachs target it will return approximately 33% (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 21.53 cents and EPS of 109.20 cents.
At the last closing share price the estimated dividend yield is 0.22%.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 88.11.

Forecast for FY26:

Goldman Sachs forecasts a full year FY26 dividend of 30.76 cents and EPS of 150.72 cents.
At the last closing share price the estimated dividend yield is 0.32%.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 63.83.

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

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