Australian Broker Call *Extra* Edition – Jun 18, 2025

Daily Market Reports | 11:15 AM

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)

AYA   AZJ   BTR   CEN   CSL   CU6   MIN   STO   THL   TLC   TTM   WIA  

TLC    LOTTERY CORPORATION LIMITED

Gaming - Overnight Price: $5.18

Jarden rates ((TLC)) as Overweight (2) -

Jarden believes share price volatility in Lottery Corp over the past month was mainly a result of positioning and index changes, and some earnings downgrades.

The broker reckons FY25 earnings risk has largely diminished, and the 2H25 turnover to date is on track to meet 2H consensus and its estimate.

Overweight. Target rises to $5.35 from $5.15 on valuation roll-forward to June 2025.

This report was published on June 16, 2025.

Target price is $5.35 Current Price is $5.18 Difference: $0.17
If TLC meets the Jarden target it will return approximately 3% (excluding dividends, fees and charges).
Current consensus price target is $5.58, suggesting upside of 7.6%(ex-dividends)
The company's fiscal year ends in June.

Forecast for FY25:

Jarden forecasts a full year FY25 dividend of 16.50 cents and EPS of 16.10 cents.
At the last closing share price the estimated dividend yield is 3.19%.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 32.17.

How do these forecasts compare to market consensus projections?

Current consensus EPS estimate is 16.3, implying annual growth of -12.4%.
Current consensus DPS estimate is 16.5, implying a prospective dividend yield of 3.2%.
Current consensus EPS estimate suggests the PER is 31.8.

Forecast for FY26:

Jarden forecasts a full year FY26 dividend of 19.50 cents and EPS of 19.20 cents.
At the last closing share price the estimated dividend yield is 3.76%.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 26.98.

How do these forecasts compare to market consensus projections?

Current consensus EPS estimate is 18.6, implying annual growth of 14.1%.
Current consensus DPS estimate is 18.6, implying a prospective dividend yield of 3.6%.
Current consensus EPS estimate suggests the PER is 27.8.

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

TTM    TITAN MINERALS LIMITED

Gold & Silver - Overnight Price: $0.38

Canaccord Genuity rates ((TTM)) as Speculative Buy (1) -

The analyst at Canaccord Genuity visited Titan Minerals Dynasty and Copper Duke projects in southern Ecuador in May. A developing dual strategy is highlighted: near-term gold production at Dynasty alongside porphyry discovery potential.

The broker believes Dynasty could support a 1.5mtpa open pit producing 80-90kozpa, underpinned by a 3.1moz gold resource with potential to grow to 4-5moz.

Previous mining at Dynasty yielded 20kozpa but left fresh ore behind, explains the analyst, and the company is now restoring community relations to secure full concession access.

At Copper Duke, which lays an hour away, the broker notes early-stage work has identified multiple porphyry-style targets that will be drill-tested in 2025.

Canaccord Genuity raises its target price to $1.20 from $1.18 and retains a Speculative Buy rating.

This report was published on June 17, 2025.

Target price is $1.20 Current Price is $0.38 Difference: $0.82
If TTM meets the Canaccord Genuity target it will return approximately 216% (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 0.30 cents.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is minus 126.67.

Forecast for FY26:

Canaccord Genuity forecasts a full year FY26 dividend of 0.00 cents and EPS of minus 0.20 cents.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is minus 190.00.

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

WIA    WIA GOLD LIMITED

Gold & Silver - Overnight Price: $0.24

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

Petra Capital highlights WIA Gold's recent assay results from 36 RC drillholes and nine diamond holes at the Kokoseb project were strong and included several "impressive" high-grade intercepts.

A resource update is due this month and the analyst reiterated expectation for a rise to 2.5-3.0Moz from the current 2.1Moz.

The broker notes the stock is trading at an EV/Resource of $158/oz, which is a 53% premium to the ASX-listed peer average of $103/oz.

After the expected resource upgrade, the broker expects this would come down to EV/Resource range of $134-111/oz.

Buy. Target rises to 32c from 30c.

This report was published on June 13, 2025.

Target price is $0.32 Current Price is $0.24 Difference: $0.08
If WIA meets the Petra Capital target it will return approximately 33% (excluding dividends, fees and charges).

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.