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

This story features 29METALS LIMITED, and other companies.
For more info SHARE ANALYSIS: 29M

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)

29M   AEL   BGL   CRD   EVN   GMD   GOR   HGO   RHC   RMD   SHV   STO  

29M    29METALS LIMITED

Copper – Overnight Price: $0.31

Jarden rates ((29M)) as Downgrade to Underweight from Overweight (4) –

Jarden has downgraded 29Metals to Underweight from Overweight with a reduced target price of 30c, citing ongoing operational setbacks at the compoany’s Golden Grove mine.

29Metals suffered another seismic event, further delaying access to its high-grade Xantho Extended orebody. As a result, Jarden now expects 2025 production for copper and zinc to miss guidance, with group EBITDA for the year slashed by -35%.

The analysts expressed concern over persistent free cash flow challenges and a negative cash outlook, though they noted any strength in base metals prices could act as a key upside risk.

This report was published on July 18, 2025.

Target price is $0.30 Current Price is $0.31 Difference: minus $0.01 (current price is over target).
If 29M meets the Jarden target it will return approximately minus 3% (excluding dividends, fees and charges – negative figures indicate an expected loss).
Current consensus price target is $0.25, suggesting downside of -22.7%(ex-dividends)
The company’s fiscal year ends in December.

Forecast for FY25:

Jarden forecasts a full year FY25 dividend of 0.00 cents and EPS of minus 3.60 cents.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is minus 8.61.

How do these forecasts compare to market consensus projections?

Current consensus EPS estimate is -0.9, implying annual growth of N/A.
Current consensus DPS estimate is N/A, implying a prospective dividend yield of N/A.
Current consensus EPS estimate suggests the PER is N/A.

Forecast for FY26:

Jarden forecasts a full year FY26 dividend of 0.00 cents and EPS of minus 0.90 cents.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is minus 34.44.

How do these forecasts compare to market consensus projections?

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

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

AEL    AMPLITUDE ENERGY LIMITED

Crude Oil – Overnight Price: $0.25

Wilsons rates ((AEL)) as Downgrade to Market Weight from Overweight (3) –

Wilsons Advisory has changed its stance on Amplitude Energy to Market Weight from Overweight, with a price target of 25c.

The broker highlights Amplitude Energy is transitioning from exploration to production, with its key gas project reaching final investment decision stage.

Farm-down discussions and securing financing are the next steps. The analysts are confident about demand fundamentals for gas in Asia, but highlight execution risks.

This report was published on July 18, 2025.

Target price is $0.25 Current Price is $0.25 Difference: $0
If AEL meets the Wilsons target it will return approximately 0% (excluding dividends, fees and charges).
Current consensus price target is $0.30, suggesting upside of 24.0%(ex-dividends)
The company’s fiscal year ends in June.

Forecast for FY25:

Wilsons forecasts a full year FY25 dividend of 0.00 cents and EPS of 0.90 cents.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 27.78.

How do these forecasts compare to market consensus projections?

Current consensus EPS estimate is 0.9, implying annual growth of N/A.
Current consensus DPS estimate is N/A, implying a prospective dividend yield of N/A.
Current consensus EPS estimate suggests the PER is 26.7.

Forecast for FY26:

Wilsons forecasts a full year FY26 dividend of 0.00 cents and EPS of 1.40 cents.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 17.86.

How do these forecasts compare to market consensus projections?

Current consensus EPS estimate is 2.5, implying annual growth of 177.8%.
Current consensus DPS estimate is N/A, implying a prospective dividend yield of N/A.
Current consensus EPS estimate suggests the PER is 9.6.

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

BGL    BELLEVUE GOLD LIMITED

Gold & Silver – Overnight Price: $0.91

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

Jarden upgrades Bellevue Gold to Neutral from Underweight, with a higher target of 94c from 77c, supported by a lift in the long-term forecast gold price to US$2400/oz and recent underperformance of the stock providing valuation support.

Jarden also raises its gold price forecast in FY26 to US$3050/oz from US$2800/oz, and in FY27 to US$2800/oz from US$2500/oz, with an accompanying rise in estimates by the analyst for Bellevue’s EPS for FY26 and FY27 by 22% and 19%, respectively.

The miner has flagged to produce 150koz at all-in-sustaining costs of $2405/oz by Jarden, which is lower than the consensus forecast for costs.

This report was published on July 16, 2025.

Target price is $0.94 Current Price is $0.91 Difference: $0.03
If BGL meets the Jarden target it will return approximately 3% (excluding dividends, fees and charges).
Current consensus price target is $1.18, suggesting upside of 27.2%(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 4.40 cents.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 20.68.

How do these forecasts compare to market consensus projections?

Current consensus EPS estimate is 4.2, implying annual growth of -35.6%.
Current consensus DPS estimate is N/A, implying a prospective dividend yield of N/A.
Current consensus EPS estimate suggests the PER is 22.1.

Forecast for FY26:

Jarden forecasts a full year FY26 dividend of 0.00 cents and EPS of 10.70 cents.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 8.50.

How do these forecasts compare to market consensus projections?

Current consensus EPS estimate is 10.7, implying annual growth of 154.8%.
Current consensus DPS estimate is N/A, implying a prospective dividend yield of N/A.
Current consensus EPS estimate suggests the PER is 8.7.

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

CRD    CONRAD ASIA ENERGY LIMITED

Crude Oil – Overnight Price: $0.77

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

Conrad Asia Energy finalised a key Gas Sale Agreement with PLN in Indonesia, with Wilsons highlighting the deal paves the way for a strategic sell-down of its Mako asset.

Wilsons rates Conrad Asia Energy Overweight with a price target of $1.52, seeing this as a turning point for the company.

The Mako project is positioned to benefit from strong regional gas demand, but commentary suggests the focus now shifts to financing and farm-down execution.

This report was published on July 18, 2025.

Target price is $1.52 Current Price is $0.77 Difference: $0.75
If CRD meets the Wilsons target it will return approximately 97% (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 minus 4.64 cents.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is minus 16.60.

Forecast for FY26:

Wilsons forecasts a full year FY26 dividend of 0.00 cents and EPS of minus 13.92 cents.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is minus 5.53.

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

EVN    EVOLUTION MINING LIMITED

Gold & Silver – Overnight Price: $7.47

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

Evolution Mining’s June quarter update revealed a strong quarter, according to Jarden, with operating metrics meeting both consensus and its own expectations, and the same applies to FY25 guidance.

Cash flow was robust and covered the $62m dividend, with early debt retirement of $145m and a lowering of gearing by -15%, with commentary highlighting around $98m of cash was added to the balance sheet.

Management’s FY26 production guidance sits at 710780koz, and copper production at 7080kt, which aligns with FY25 ranges. All-in-sustaining costs of $1170$1880/oz are higher than FY25, while capex guidance declines by -$200m on FY25.

Target price slips to $6.18 from $6.32. No change to Underweight rating. The analyst tweaks EPS estimates.

This report was published on July 16, 2025.

Target price is $6.18 Current Price is $7.47 Difference: minus $1.29 (current price is over target).
If EVN meets the Jarden target it will return approximately minus 17% (excluding dividends, fees and charges – negative figures indicate an expected loss).
Current consensus price target is $6.87, suggesting downside of -9.8%(ex-dividends)
The company’s fiscal year ends in June.

Forecast for FY25:

Jarden forecasts a full year FY25 dividend of 19.00 cents and EPS of 42.80 cents.
At the last closing share price the estimated dividend yield is 2.54%.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 17.45.

How do these forecasts compare to market consensus projections?

Current consensus EPS estimate is 51.4, implying annual growth of 133.4%.
Current consensus DPS estimate is 21.8, implying a prospective dividend yield of 2.9%.
Current consensus EPS estimate suggests the PER is 14.8.

Forecast for FY26:

Jarden forecasts a full year FY26 dividend of 21.00 cents and EPS of 57.80 cents.
At the last closing share price the estimated dividend yield is 2.81%.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 12.92.

How do these forecasts compare to market consensus projections?

Current consensus EPS estimate is 66.4, implying annual growth of 29.2%.
Current consensus DPS estimate is 27.7, implying a prospective dividend yield of 3.6%.
Current consensus EPS estimate suggests the PER is 11.5.

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

GMD    GENESIS MINERALS LIMITED

Gold & Silver – Overnight Price: $3.87

Moelis rates ((GMD)) as Hold (3) –

Genesis Minerals’ latest quarterly update flagged production of 61.5koz gold, broadly in line with expectations, but Moelis counters cost pressures and third-party ore purchases cloud the outlook.

Moelis notes the miner’s net mine cashflow fell short at $95m versus its own $155m estimate, while FY26 guidance will only be clarified later this year.

The broker sees the company transitioning beyond its original growth strategy, but investors face an extended wait for clarity on medium-term plans.

Despite a retrace in the share price from its highs, Moelis maintains a Hold rating with a trimmed target price of $4.35 (from $4.50)

This report was published on July 18, 2025.

Target price is $4.35 Current Price is $3.87 Difference: $0.48
If GMD meets the Moelis target it will return approximately 12% (excluding dividends, fees and charges).
Current consensus price target is $4.55, suggesting upside of 11.2%(ex-dividends)
The company’s fiscal year ends in June.

Forecast for FY25:

Moelis forecasts a full year FY25 dividend of 0.00 cents and EPS of 19.40 cents.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 19.95.

How do these forecasts compare to market consensus projections?

Current consensus EPS estimate is 19.6, implying annual growth of 153.2%.
Current consensus DPS estimate is N/A, implying a prospective dividend yield of N/A.
Current consensus EPS estimate suggests the PER is 20.9.

Forecast for FY26:

Moelis forecasts a full year FY26 dividend of 0.00 cents and EPS of 32.40 cents.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 11.94.

How do these forecasts compare to market consensus projections?

Current consensus EPS estimate is 32.7, implying annual growth of 66.8%.
Current consensus DPS estimate is N/A, implying a prospective dividend yield of N/A.
Current consensus EPS estimate suggests the PER is 12.5.

Market Sentiment: 0.3
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: $3.17

Moelis rates ((GOR)) as Hold (3) –

Gold Road’s second-quarter numbers largely matched earlier disclosures, but Moelis highlights a production miss (36.5koz vs 42.6koz forecast) and higher costs, with AISC at $2,928/oz.

Commentary adds FY25 guidance points to production at the low end of expectations and costs at the high end.

Moelis expects limited share price reaction given the pending Gold Fields (GFI) merger. For those seeking pure-play gold exposure, the analysts recommend looking elsewhere. The broker retains a Hold rating and a target price of $3.20

This report was published on July 18, 2025.

Target price is $3.20 Current Price is $3.17 Difference: $0.03
If GOR meets the Moelis target it will return approximately 1% (excluding dividends, fees and charges).
Current consensus price target is $3.24, suggesting upside of 0.5%(ex-dividends)
The company’s fiscal year ends in December.

Forecast for FY25:

Moelis forecasts a full year FY25 dividend of 3.70 cents and EPS of 27.40 cents.
At the last closing share price the estimated dividend yield is 1.17%.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 11.57.

How do these forecasts compare to market consensus projections?

Current consensus EPS estimate is 27.7, implying annual growth of 110.2%.
Current consensus DPS estimate is 4.6, implying a prospective dividend yield of 1.4%.
Current consensus EPS estimate suggests the PER is 11.6.

Forecast for FY26:

Moelis forecasts a full year FY26 dividend of 5.00 cents and EPS of 33.60 cents.
At the last closing share price the estimated dividend yield is 1.58%.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 9.43.

How do these forecasts compare to market consensus projections?

Current consensus EPS estimate is 29.7, implying annual growth of 7.2%.
Current consensus DPS estimate is 5.5, implying a prospective dividend yield of 1.7%.
Current consensus EPS estimate suggests the PER is 10.8.

Market Sentiment: 0.0
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’ 2Q copper production of 2.59kt fell short of the forecast by Moelis for 3.01kt and tracks toward the lower end of 2025 guidance of 12-14kt.

Processed grades declined to 0.78% from 0.96% in the prior quarter due to the deferral of higher-grade stopes, explains the broker. This led to reduced sales and elevated costs (AISC) of $6.69/lb versus the analyst’s forecast of $5.41/lb.

The cash balance declined to $10.6m from $22.3m, impacted by both softer operational performance and unanticipated development spend at Nugent, explains the broker.

Moelis believes no specific cost items drove the miss and attributes the result to volume-related impacts, adding that cash flow is unlikely to improve materially before the Nugent development is completed.

Buy rating. Target 7c.

This report was published on July 18, 2025.

Target price is $0.07 Current Price is $0.04 Difference: $0.03
If HGO meets the Moelis target it will return approximately 75% (excluding dividends, fees and charges).
The company’s fiscal year ends in December.

Forecast for FY25:

Moelis forecasts a full year FY25 dividend of 0.00 cents and EPS of 0.37 cents.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 10.81.

Forecast for FY26:

Moelis forecasts a full year FY26 dividend of 0.00 cents and EPS of 0.93 cents.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 4.30.

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: $38.17

Jarden rates ((RHC)) as Neutral (3) –

Jarden describes the move to increase the tariff rate by the NHS as predictable, with the rate rising to 2.83% on June 27, 2025, from the previously announced tariff rate of 2.15% for the April 1 to March 31, 2026, period. The rise will be back-paid to April 1, 2025.

The NHS also announced a funding reduction for cataract procedures as a result of an increase in volumes over the last five years.

Due to the NHS indexation sequencing from April 1, Jarden lifts revenue growth for Ramsay Health Care to 9.5% due to better expected volumes, three months of the revised tariff increase, and a favourable forex rate.

Target price rises to $44.58 from $44.05. No change to Neutral rating.

This report was published on July 16, 2025.

Target price is $44.58 Current Price is $38.17 Difference: $6.41
If RHC meets the Jarden target it will return approximately 17% (excluding dividends, fees and charges).
Current consensus price target is $38.29, suggesting upside of 0.2%(ex-dividends)
The company’s fiscal year ends in June.

Forecast for FY25:

Jarden forecasts a full year FY25 dividend of 76.70 cents and EPS of 126.20 cents.
At the last closing share price the estimated dividend yield is 2.01%.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 30.25.

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 31.4.

Forecast for FY26:

Jarden forecasts a full year FY26 dividend of 86.90 cents and EPS of 143.30 cents.
At the last closing share price the estimated dividend yield is 2.28%.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 26.64.

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 2.7%.
Current consensus EPS estimate suggests the PER is 24.1.

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

RMD    RESMED INC

Medical Equipment & Devices – Overnight Price: $39.72

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

Ahead of its 4Q25 results, Jarden reaffirms an Overweight rating on ResMed with a minimally raised target price of $40.55.

The global sleep apnoea market leader is forecast to post strong top-line momentum, underpinned by a rebound in device sales and double-digit growth in masks.

Margin expansion is expected thanks to manufacturing efficiencies and FX tailwinds. The analysts also flagged the company’s growing direct-to-consumer advertising spend as a long-term driver of market share gains.

Also, reimbursement risks and the potential return of competitive bidding in the US are on the radar.

This report was published on July 18, 2025.

Target price is $40.55 Current Price is $39.72 Difference: $0.83
If RMD meets the Jarden target it will return approximately 2% (excluding dividends, fees and charges).
Current consensus price target is $45.89, suggesting upside of 14.7%(ex-dividends)
The company’s fiscal year ends in June.

Forecast for FY25:

Jarden forecasts a full year FY25 dividend of 33.57 cents and EPS of 147.21 cents.
At the last closing share price the estimated dividend yield is 0.85%.
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 145.2, implying annual growth of N/A.
Current consensus DPS estimate is 33.4, implying a prospective dividend yield of 0.8%.
Current consensus EPS estimate suggests the PER is 27.6.

Forecast for FY26:

Jarden forecasts a full year FY26 dividend of 42.56 cents and EPS of 174.12 cents.
At the last closing share price the estimated dividend yield is 1.07%.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 22.81.

How do these forecasts compare to market consensus projections?

Current consensus EPS estimate is 162.9, implying annual growth of 12.2%.
Current consensus DPS estimate is 36.8, implying a prospective dividend yield of 0.9%.
Current consensus EPS estimate suggests the PER is 24.6.

This company reports in USD. All estimates have been converted into AUD by FNArena at present FX values.
Market Sentiment: 0.9
All consensus data are updated until yesterday. FNArena’s consensus calculations require a minimum of three sources

SHV    SELECT HARVESTS LIMITED

Agriculture – Overnight Price: $3.64

Wilsons rates ((SHV)) as Market Weight (3) –

Almond producer Select Harvests released a trading update confirming crop volume guidance but cautioning on almond price volatility, Wilsons observes.

Wilsons remains Market Weight rated on the stock and trimmed its target price to $4.02 (down from $4.83) on reduced forecasts.

Recent weakness in spot almond prices is seen as a headwind, though forward sales coverage offers some protection. Investors are advised to monitor price trends closely.

This report was published on July 18, 2025.

Target price is $4.02 Current Price is $3.64 Difference: $0.38
If SHV meets the Wilsons target it will return approximately 10% (excluding dividends, fees and charges).
Current consensus price target is $5.42, suggesting upside of 48.0%(ex-dividends)
The company’s fiscal year ends in September.

Forecast for FY25:

Wilsons forecasts a full year FY25 dividend of 13.50 cents and EPS of 20.60 cents.
At the last closing share price the estimated dividend yield is 3.71%.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 17.67.

How do these forecasts compare to market consensus projections?

Current consensus EPS estimate is 24.5, implying annual growth of 1875.8%.
Current consensus DPS estimate is 1.3, implying a prospective dividend yield of 0.4%.
Current consensus EPS estimate suggests the PER is 14.9.

Forecast for FY26:

Wilsons forecasts a full year FY26 dividend of 27.70 cents and EPS of 50.40 cents.
At the last closing share price the estimated dividend yield is 7.61%.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 7.22.

How do these forecasts compare to market consensus projections?

Current consensus EPS estimate is 29.9, implying annual growth of 22.0%.
Current consensus DPS estimate is 8.3, implying a prospective dividend yield of 2.3%.
Current consensus EPS estimate suggests the PER is 12.2.

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

STO    SANTOS LIMITED

NatGas – Overnight Price: $7.82

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

It is Jarden’s assessment Santos delivered a solid June quarter update, comfortably beating the broker’s and consensus forecasts on production and revenue.

Output of 22.2mmboe was 2% ahead of expectations, while sales revenue of US$1.29bn exceeded estimates by 6%. Free cash flow surged to US$1.1bn in 1H25, keeping gearing well within the target range.

Attention now shifts to the ADNOC-led consortium’s indicative bid for Santos at US$5.76/share, with due diligence scheduled to conclude by 8 August.

Jarden expects the share price will remain below the proposed bid price for now but could rally if a Scheme Implementation Agreement is signed post due diligence.

Commentary highlights growth projects remain on track, with Barossa circa 97% complete and targeting first gas this quarter, while Pikka is nearly 89% complete and expected to deliver first oil by mid-2026.

Jarden retains an Overweight rating and an unchanged target price of $8.40, noting corporate activity is likely to drive near-term share price movements.

DPS estimates have been increased noticeably.

This report was published on July 18, 2025.

Target price is $8.40 Current Price is $7.82 Difference: $0.58
If STO meets the Jarden target it will return approximately 7% (excluding dividends, fees and charges).
Current consensus price target is $8.33, suggesting upside of 6.5%(ex-dividends)
The company’s fiscal year ends in December.

Forecast for FY25:

Jarden forecasts a full year FY25 dividend of 34.33 cents and EPS of 45.46 cents.
At the last closing share price the estimated dividend yield is 4.39%.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 17.20.

How do these forecasts compare to market consensus projections?

Current consensus EPS estimate is 53.0, implying annual growth of N/A.
Current consensus DPS estimate is 28.3, implying a prospective dividend yield of 3.6%.
Current consensus EPS estimate suggests the PER is 14.8.

Forecast for FY26:

Jarden forecasts a full year FY26 dividend of 35.41 cents and EPS of 63.55 cents.
At the last closing share price the estimated dividend yield is 4.53%.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 12.30.

How do these forecasts compare to market consensus projections?

Current consensus EPS estimate is 58.4, implying annual growth of 10.2%.
Current consensus DPS estimate is 34.6, implying a prospective dividend yield of 4.4%.
Current consensus EPS estimate suggests the PER is 13.4.

This company reports in USD. All estimates have been converted into AUD by FNArena at present FX values.
Market Sentiment: 0.4
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.

Click to view our Glossary of Financial Terms