Daily Market Reports | Jun 12 2025
An additional news report on the recommendation, valuation, forecast and opinion changes and updates for ASX-listed equities.
In addition to The Australian Broker Call Report, which is published and updated daily (Mon-Fri), FNArena has now added The Australian Broker Call *Extra* Edition, featuring additional sources of research and insights on ASX-listed stocks, also enlarging the number of stocks that make up the FNArena universe.
One key difference is the *Extra* Edition will not be updated daily, but merely "regularly" depending on availability of suitable quality content. As such, the *Extra* Edition tries to build a bridge between daily updates via the Australian Broker Call Report and ad hoc news stories, that are not always timely for investors hungry for the next information update.
Investors using the *Extra* Edition as a source of input for their own share market research should thus take into account that information after publication may not be up to date, or yet awaiting another update by FNArena's team of journalists.
Similar to The Australian Broker Call Report, this *Extra* Edition includes concise but limited reviews of research recently published by Stockbrokers and other experts, which should be considered as information concerning likely market behaviour rather than advice on the securities mentioned. Do not act on the contents of this Report without first reading the important information included at the end of this Report.
The Australian Broker Call *Extra* Edition is a summary that has been prepared independently of the sources identified. Readers will check the full text of the recommendations and consult a Licenced Advisor before making any investment decision.
The copyright of this Report is owned by the publisher. Readers will not copy, forward or disseminate this Report to any other person. For more vital information about the sources included, see the bottom of this Report.
COMPANIES DISCUSSED IN THIS ISSUE
Click on a symbol for fast access.
The number next to the symbol represents the number of brokers covering it for this report -(if more than 1)
AGN ANG ASB ASN BMT CIP CLW CMM COF CQE CQR GDG HDN INA LIC MTS MVF NSR NXG NXT PRU QAN RGN SIG SKC SVL WPR
NXG NEXGEN ENERGY LIMITED
Uranium - Overnight Price: $9.82
Petra Capital rates ((NXG)) as Buy (1) -
Petra Capital believes the uranium market is transitioning from being inventory-driven to supply-driven, with 2024 production at 156mlbs, covering just 89% of consumption.
Utilities remain complacent despite contracting volumes falling short of annual burn since 2012, explains the analyst, with current low inventories and supply constraints pointing to structurally higher prices.
Top producers Kazatomprom and Cameco continue to show supply discipline, with the former's FY25 guidance down -17% versus late-2023 and costs worsening by -29% year-on-year.
Within Petra's research coverage, Bannerman Energy ((BMN)) is most exposed to short interest.
Petra Capital maintains Buy ratings across select ASX uranium developers and producers, highlighting increasing scarcity of quality resources and global undercoverage of utility demand. The target for NexGen Energy is $10.80.
This report was published on June 12, 2025.
Target price is $10.80 Current Price is $9.82 Difference: $0.98
If NXG meets the Petra Capital target it will return approximately 10% (excluding dividends, fees and charges).
This company reports in CAD. 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
NXT NEXTDC LIMITED
Cloud services - Overnight Price: $13.93
Wilsons rates ((NXT)) as Overweight (1) -
NextDC has secured a 16MW contract win with a hyperscale customer, increasing total contracted utilisation by 7% to 244MW and marking its first major offshore deal, highlights Wilsons.
The broker expects most of the associated revenue to begin in 2027, with full ramp-up by 2028, while the forward order book has reached a record 135MW.
The analysts' forecast earnings (EBITDA) for 2026 are trimmed by -3% to $235m due to increased corporate costs linked to elevated capex, while 2027 forecasts rise 3% to $294m.
Wilsons sees strong medium-term growth supported by robust customer demand, high recurring revenue, and global expansion potential.
The broker also flags capital intensity as a risk, with forecast capex reaching around -$2bn in 2026 and net debt to earnings rising to 7.8x times.
Wilsons raises its target price to $17.69 from $17.19 and retains an Overweight rating.
This report was published on June 12, 2025.
Target price is $17.69 Current Price is $13.93 Difference: $3.76
If NXT meets the Wilsons target it will return approximately 27% (excluding dividends, fees and charges).
Current consensus price target is $19.57, suggesting upside of 41.8%(ex-dividends)
The company's fiscal year ends in June.
Forecast for FY25:
Wilsons forecasts a full year FY25 dividend of 0.00 cents and EPS of minus 16.20 cents.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is minus 85.99.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:
Wilsons forecasts a full year FY26 dividend of 0.00 cents and EPS of minus 24.20 cents.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is minus 57.56.How do these forecasts compare to market consensus projections?
Current consensus EPS estimate is -17.1, 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
PRU PERSEUS MINING LIMITED
Gold & Silver - Overnight Price: $3.62
Canaccord Genuity rates ((PRU)) as Buy (1) -
Management at Perseus Mining plans to lift average annual gold production to circa 525koz from 2026-2030, supported by mine life extensions at Edikan and Sissingue, explains Canaccord Genuity.
Higher prospective production represents a 16% increase versus the broker's prior forecast and 9% above consensus. Capital of US$878m over five years will support site expansion and Nyanzaga development.
Near-term free cash flow will fall due to capex, but is forecast to rebound post-2028 with free cash flow from 2029-2032 expected to be 25% higher than the broker's prior estimates.
Production guidance for 2025 is unchanged at 470-505koz at costs (AISC) of US$1,250-1,280/oz, while long-term costs are expected to average US$1,400-,500/oz, or 12% above the analysts' prior assumptions.
Canaccord raises its target price to $5.25 from $5.00 and retains a Buy rating.
This report was published on June 12, 2025.
Target price is $5.25 Current Price is $3.62 Difference: $1.63
If PRU meets the Canaccord Genuity target it will return approximately 45% (excluding dividends, fees and charges).
Current consensus price target is $3.89, suggesting upside of 2.3%(ex-dividends)
The company's fiscal year ends in June.
Forecast for FY25:
Canaccord Genuity forecasts a full year FY25 dividend of 7.71 cents and EPS of 37.00 cents.
At the last closing share price the estimated dividend yield is 2.13%.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 9.78.How do these forecasts compare to market consensus projections?
Current consensus EPS estimate is 38.5, implying annual growth of N/A.
Current consensus DPS estimate is 9.2, implying a prospective dividend yield of 2.4%.
Current consensus EPS estimate suggests the PER is 9.9.
Forecast for FY26:
Canaccord Genuity forecasts a full year FY26 dividend of 6.17 cents and EPS of 43.17 cents.
At the last closing share price the estimated dividend yield is 1.70%.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 8.39.How do these forecasts compare to market consensus projections?
Current consensus EPS estimate is 37.2, implying annual growth of -3.4%.
Current consensus DPS estimate is 11.0, implying a prospective dividend yield of 2.9%.
Current consensus EPS estimate suggests the PER is 10.2.
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
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