Australian Broker Call *Extra* Edition – Jul 23, 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   A1M   ABB   DYL   FBU   GMD   HGO (2)   NWS   PLY   PNR   PPS   REA   S32   SLC   TLS   TPG  

29M    29METALS LIMITED

Copper – Overnight Price: $0.32

Canaccord Genuity rates ((29M)) as Sell (5) –

29Metals announced a lift in copper production of 37% to 5.6kt in the June quarter update, which met Canaccord Genuity’s and consensus expectations.

Zinc volume declined by -28% on the prior quarter, which was below expectations for both the broker and consensus.

All-in-sustaining-costs rose 59% on the quarter at US$3.39/lb for copper against the broker’s estimate of US$3.64/lb. Cash rose to $187m post a final insurance payout of $54m from the rain event at Capricorn Copper.

Canaccord remains concerned Golden Grove continues to generate negative free cashflow post capex of -$1m and will not be able to support the business.

No change to Sell rating and 16c target.

This report was published on July 18, 2025.

Target price is $0.16 Current Price is $0.32 Difference: minus $0.16 (current price is over target).
If 29M meets the Canaccord Genuity target it will return approximately minus 50% (excluding dividends, fees and charges – negative figures indicate an expected loss).
Current consensus price target is $0.25, suggesting downside of -21.4%(ex-dividends)
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 0.00 cents.

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:

Canaccord Genuity forecasts a full year FY26 dividend of 0.00 cents and EPS of 1.00 cents.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 32.00.

How do these forecasts compare to market consensus projections?

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

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

A1M    AIC MINES LIMITED

Gold & Silver – Overnight Price: $0.32

Moelis rates ((A1M)) as Buy (1) –

AIC Mines announced 4Q25 production which met Moelis’ expectations at 3.2kt of copper and 1.6koz of gold. Unit costs were higher than anticipated due to a rise in mining costs and sales of additional March quarter inventory.

Cash was notably lower than forecast at $60.9m versus the $81.7m estimate, which the broker attributes to timing differences on Jericho investment spending which moved into FY25 from FY26.

Buy rating unchanged. Target price is lowered to 40c from 43c as earnings forecasts are lowered for changes in capex assumptions.

Moelis reduces EPS estimates by -32.3% for FY25 and -19.5% for FY26.

This report was published on July 22, 2025.

Target price is $0.40 Current Price is $0.32 Difference: $0.08
If A1M meets the Moelis target it will return approximately 25% (excluding dividends, fees and charges).
Current consensus price target is $0.59, suggesting upside of 83.3%(ex-dividends)
The company’s fiscal year ends in June.

Forecast for FY25:

Moelis forecasts a full year FY25 dividend of 0.00 cents and EPS of 2.10 cents.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 15.24.

How do these forecasts compare to market consensus projections?

Current consensus EPS estimate is 3.0, implying annual growth of 84.0%.
Current consensus DPS estimate is N/A, implying a prospective dividend yield of N/A.
Current consensus EPS estimate suggests the PER is 10.7.

Forecast for FY26:

Moelis forecasts a full year FY26 dividend of 0.00 cents and EPS of 3.30 cents.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 9.70.

How do these forecasts compare to market consensus projections?

Current consensus EPS estimate is 4.4, implying annual growth of 46.7%.
Current consensus DPS estimate is N/A, implying a prospective dividend yield of N/A.
Current consensus EPS estimate suggests the PER is 7.3.

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

ABB    AUSSIE BROADBAND LIMITED

Telecommunication – Overnight Price: $4.23

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

Ahead of August reporting season, Jarden lifts the target price on Aussie Broadband to $4.50 with no change to Overweight rating or earnings forecasts.

The company is due to report on August 25.

This report was published on July 17, 2025.

Target price is $4.50 Current Price is $4.23 Difference: $0.27
If ABB meets the Jarden target it will return approximately 6% (excluding dividends, fees and charges).
Current consensus price target is $4.76, suggesting upside of 12.6%(ex-dividends)
The company’s fiscal year ends in June.

Forecast for FY25:

Jarden forecasts a full year FY25 dividend of 7.00 cents and EPS of 16.70 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 25.33.

How do these forecasts compare to market consensus projections?

Current consensus EPS estimate is 11.9, implying annual growth of 22.2%.
Current consensus DPS estimate is 6.9, implying a prospective dividend yield of 1.6%.
Current consensus EPS estimate suggests the PER is 35.5.

Forecast for FY26:

Jarden forecasts a full year FY26 dividend of 7.00 cents and EPS of 23.00 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 18.39.

How do these forecasts compare to market consensus projections?

Current consensus EPS estimate is 17.3, implying annual growth of 45.4%.
Current consensus DPS estimate is 6.4, implying a prospective dividend yield of 1.5%.
Current consensus EPS estimate suggests the PER is 24.5.

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

DYL    DEEP YELLOW LIMITED

Uranium – Overnight Price: $1.84

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

Deep Yellow announced a further progress update at Tumas, with management confirming development as it waits for higher U308 prices to underpin the final investment decision.

Canaccord Genuity notes the most recent optimisation at a U308 price of US$85/lb generated a net present value of US$577m with an internal rate of return of 19% post-tax, with initial capex set at -US$474m.

No change to Speculative Buy and target at $1.61. The broker highlights for every US$5/lb move in the underlying U308 price, the valuation for Deep Yellow changes by around 10%.

This report was published on July 21, 2025.

Target price is $1.61 Current Price is $1.84 Difference: minus $0.23 (current price is over target).
If DYL 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 $1.81, suggesting downside of -1.8%(ex-dividends)
The company’s fiscal year ends in June.

Forecast for FY25:

Canaccord Genuity forecasts a full year FY25 dividend of 0.00 cents and EPS of minus 1.24 cents.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is minus 148.75.

How do these forecasts compare to market consensus projections?

Current consensus EPS estimate is -0.5, 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.

Forecast for FY26:

Canaccord Genuity forecasts a full year FY26 dividend of 0.00 cents and EPS of minus 1.70 cents.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is minus 108.17.

How do these forecasts compare to market consensus projections?

Current consensus EPS estimate is -3.7, 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.

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

FBU    FLETCHER BUILDING LIMITED

Building Products & Services – Overnight Price: $2.77

Jarden rates ((FBU)) as Buy (1) –

Jarden outlined Fletcher Building’s 4Q25 volumes continued to show similar trends, with NZ stabilising and Australian volumes under pressure, with a slight quarter-on-quarter rise for Plex AU and Laminex AU remaining negative.

The analyst believes the Australian operations are near the bottom of the earnings trough with “limited” relief in the near term.

Management’s FY25 guidance remains unchanged since the June 24 investor day.

Buy rating and target at NZ$4.14 unchanged.

This report was published on July 18, 2025.

Current Price is $2.77. Target price not assessed.
Current consensus price target is $3.04, suggesting upside of 9.7%(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 22.37 cents.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 12.38.

How do these forecasts compare to market consensus projections?

Current consensus EPS estimate is 13.8, implying annual growth of N/A.
Current consensus DPS estimate is N/A, implying a prospective dividend yield of N/A.
Current consensus EPS estimate suggests the PER is 20.1.

Forecast for FY26:

Jarden forecasts a full year FY26 dividend of 0.00 cents and EPS of 17.53 cents.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 15.80.

How do these forecasts compare to market consensus projections?

Current consensus EPS estimate is 18.0, implying annual growth of 30.4%.
Current consensus DPS estimate is 1.3, implying a prospective dividend yield of 0.5%.
Current consensus EPS estimate suggests the PER is 15.4.

This company reports in NZD. All estimates have been converted into AUD by FNArena at present FX values.
Market Sentiment: 0.0
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: $4.07

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

Genesis Minerals’ June quarter production at 61.5koz met Canaccord Genuity’s expectations, with Laverton offsetting a slightly lower than anticipated production at Leonora of 41koz versus the analyst’s forecast of 44koz.

All-in-sustaining-costs of $2499 rose 8% on the previous quarter and were 8% above expectations compared to the broker and consensus.

Revenue came in at $314m, bang in line with Canaccord’s estimate, and stockpiles rose to 65.9koz at 1.6g/t compared to 42.5koz at 1.4g/t in the prior quarter.

Genesis is expected to update FY26 guidance at the September quarter announcement.

No change to Buy rating and $5.70 target price.

This report was published on July 17, 2025.

Target price is $5.70 Current Price is $4.07 Difference: $1.63
If GMD meets the Canaccord Genuity target it will return approximately 40% (excluding dividends, fees and charges).
Current consensus price target is $4.55, suggesting upside of 11.8%(ex-dividends)
The company’s fiscal year ends in June.

Forecast for FY25:

Canaccord Genuity forecasts a full year FY25 dividend of 0.00 cents and EPS of 19.00 cents.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 21.42.

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 20.8.

Forecast for FY26:

Canaccord Genuity forecasts a full year FY26 dividend of 0.00 cents and EPS of 43.00 cents.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 9.47.

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 12.4.

Market Sentiment: 0.3
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

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

Hillgrove Resources released its 4Q25 report with copper production at 2.6kt, gold at 0.6koz and 19.6koz of silver, all of which came in below the prior quarter.

Canaccord Genuity notes the lower results were due to sequencing, with higher stopes pushed out to 2H2025.

An improvement in feed grade in July was noted by Hillgrove at the update, while lower grades resulted in higher C1 and all-in-sustaining-costs over the June quarter.

The acceleration in Nugent development is expected to finish in the September quarter.

Canaccord Genuity lowers 2025 earnings (EBITDA) forecasts by -22%. Speculative Buy rating retained. Target slips to 8c from 9c.

This report was published on July 18, 2025.

Target price is $0.08 Current Price is $0.04 Difference: $0.04
If HGO meets the Canaccord Genuity target it will return approximately 100% (excluding dividends, fees and charges).
The company’s fiscal year ends in December.

Forecast for FY25:

Canaccord Genuity forecasts a full year FY25 dividend of 0.00 cents and EPS of 0.00 cents.

Forecast for FY26:

Canaccord Genuity forecasts a full year FY26 dividend of 0.00 cents and EPS of 3.00 cents.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 1.33.

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

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Moelis rates ((HGO)) as Buy (1) –

Moelis explains Hillgrove Resources’ June quarter production and sales were lower than expectations, although the disclosures previously had flagged the softness and there were no surprises in terms of the headline numbers.

Cash was lower than anticipated, resulting from softer copper production and a -$5.1m spend on Nugent development.

The June run rate of 1.4Mtpa was the highest level since the restart, with further increases expected as Nugent ramps towards steady-state production of 1.7Mtpa to 1.8Mtpa.

Moelis continues to believe in management’s ability to deliver on the “underlying potential” of the legacy asset, while acknowledging the June quarter numbers were not ideal, but capex for Nugent is now finished.

Buy rated with a 6c target price.

This report was published on July 21, 2025.

Target price is $0.06 Current Price is $0.04 Difference: $0.02
If HGO meets the Moelis target it will return approximately 50% (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 0.00 cents.

Forecast for FY26:

Moelis forecasts a full year FY26 dividend of 0.00 cents and EPS of 0.10 cents.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 40.00.

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

NWS    NEWS CORPORATION

Print, Radio & TV – Overnight Price: $51.42

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

Jarden expects News Corp to announce its 4Q25 earnings report on August 6, with the broker expecting group revenue of US$2,091m, a rise of 1% on a year earlier, which is in line with consensus.

The analyst emphasises the digital real estate, REA Group ((REA)), forecast is 8% above consensus at the EBITDA level, with operating costs some -3% below consensus.

Robust momentum at Dow Jones is expected to continue in professional information services; circulation revenues are forecast to rise 6% with a lift in digital subscriptions, and advertising remains the “wild card”.

Jarden retains an Overweight rating. Target price rises to $54.60 from $54.

This report was published on July 18, 2025.

Target price is $54.60 Current Price is $51.42 Difference: $3.18
If NWS meets the Jarden target it will return approximately 6% (excluding dividends, fees and charges).
Current consensus price target is $65.50, suggesting upside of 27.4%(ex-dividends)
The company’s fiscal year ends in June.

Forecast for FY25:

Jarden forecasts a full year FY25 dividend of 30.93 cents and EPS of 136.85 cents.
At the last closing share price the estimated dividend yield is 0.60%.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 37.57.

How do these forecasts compare to market consensus projections?

Current consensus EPS estimate is 129.8, implying annual growth of N/A.
Current consensus DPS estimate is 30.5, implying a prospective dividend yield of 0.6%.
Current consensus EPS estimate suggests the PER is 39.6.

Forecast for FY26:

Jarden forecasts a full year FY26 dividend of 30.93 cents and EPS of 150.77 cents.
At the last closing share price the estimated dividend yield is 0.60%.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 34.11.

How do these forecasts compare to market consensus projections?

Current consensus EPS estimate is 158.5, implying annual growth of 22.1%.
Current consensus DPS estimate is 34.3, implying a prospective dividend yield of 0.7%.
Current consensus EPS estimate suggests the PER is 32.4.

This company reports in USD. All estimates have been converted into AUD by FNArena at present FX values.
Market Sentiment: 0.8
All consensus data are updated until yesterday. FNArena’s consensus calculations require a minimum of three sources

PLY    PLAYSIDE STUDIOS LIMITED

Gaming – Overnight Price: $0.23

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

Playside Studios’ FY25 trading update with revenue of around $49m was below Canaccord Genuity’s forecast of $51m and consensus at $52m, and at the bottom end of previous guidance.

The company also flagged an expected loss of -$7m to -$8m against previous guidance of -$6m to -$10m, including restructuring costs of -$1.6m. Cash balance expected to be $13m-$14m, which infers a lower cash burn than anticipated.

The downgrade reflects ongoing delays to conversion of larger work-for-hire opportunities in last-stage negotiations, the analyst explains.

Buy. Target unchanged at 50c. The rally in the share price by 21% post-announcement is viewed as a relief signal that Playside’s liquidity position has improved.

This report was published on July 21, 2025.

Target price is $0.50 Current Price is $0.23 Difference: $0.27
If PLY meets the Canaccord Genuity target it will return approximately 117% (excluding dividends, fees and charges).
The company’s fiscal year ends in June.

Forecast for FY25:

Canaccord Genuity forecasts a full year FY25 dividend of 0.00 cents and EPS of minus 3.54 cents.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is minus 6.50.

Forecast for FY26:

Canaccord Genuity forecasts a full year FY26 dividend of 0.00 cents and EPS of minus 0.21 cents.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is minus 109.52.

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

PNR    PANTORO GOLD LIMITED

Gold & Silver – Overnight Price: $3.75

Moelis rates ((PNR)) as Buy (1) –

Pantoro Gold announced slightly stronger than expected 4Q25 production of 25.4koz against Moelis’ forecast of 24.2koz, with all-in-sustaining-costs coming in lower than forecast at $1991/oz.

Cash at quarter end stood at $151.6m, lower than the broker’s estimate of $167.1m, and the company is now debt-free following the conversion of the remaining convertible loan.

Management offered FY26 guidance of 100110koz of gold at $1950$2250 all-in-sustaining-costs. Moelis expects another year of growth for FY26, although there is expected to be a rise in capex and exploration costs.

The analyst lowers EPS forecasts by -7.4% for FY25 and -18.1% for FY26.

No change to Buy rating. Target lifts to $4 from $3.50.

This report was published on July 21, 2025.

Target price is $4.00 Current Price is $3.75 Difference: $0.25
If PNR meets the Moelis target it will return approximately 7% (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 12.50 cents.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 30.00.

Forecast for FY26:

Moelis forecasts a full year FY26 dividend of 0.00 cents and EPS of 29.80 cents.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 12.58.

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

PPS    PRAEMIUM LIMITED

Wealth Management & Investments – Overnight Price: $0.73

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

Wilsons notes Praemium’s 4Q25 update showed net outflows of -$37m, which were considerably better than expected (-$175m), particularly when excluding some -$188m of Powerwrap services from Escala advisers that left.

The analyst highlights better than expected net inflows of $339m for Spectrum and the Euroz migration anticipated to ramp up over 1H26.

Custodial FUA were as expected, as were non-custodial at $33.6bn, and pooled cash at 6% was a positive surprise underpinned by Spectrum migration from OneVue, Wilsons explains.

Market Weight. Target price 71c.

This report was published on July 22, 2025.

Target price is $0.71 Current Price is $0.73 Difference: minus $0.02 (current price is over target).
If PPS meets the Wilsons target it will return approximately minus 3% (excluding dividends, fees and charges – negative figures indicate an expected loss).
The company’s fiscal year ends in June.

Forecast for FY25:

Wilsons forecasts a full year FY25 dividend of 2.10 cents and EPS of 3.40 cents.
At the last closing share price the estimated dividend yield is 2.88%.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 21.47.

Forecast for FY26:

Wilsons forecasts a full year FY26 dividend of 2.10 cents and EPS of 3.50 cents.
At the last closing share price the estimated dividend yield is 2.88%.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 20.86.

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

REA    REA GROUP LIMITED

Real Estate – Overnight Price: $238.21

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

Jarden does not anticipate any earnings surprises at REA Group’s FY25 results, particularly with three quarters already announced.

The latest PropTrack listings data points to a fall of -3% in listing volumes in June, following a -9.7% decline in May and a -10.6% decline in April, for around an -8% fall in the June quarter, which is in line with the broker’s forecast.

REA had already noted listings volumes in 4Q25 guidance. Jarden forecasts revenue growth of 15% for FY25 and earnings (EBITDA) growth of 18%, with net profit after tax to advance by an estimated 24%.

Target price raised to $216 from $210 due to changes in risk-free rate assumptions for valuation. No change to Underweight rating or the analyst’s earnings forecasts.

This report was published on July 18, 2025.

Target price is $216.00 Current Price is $238.21 Difference: minus $22.21 (current price is over target).
If REA meets the Jarden target it will return approximately minus 9% (excluding dividends, fees and charges – negative figures indicate an expected loss).
Current consensus price target is $268.14, suggesting upside of 12.6%(ex-dividends)
The company’s fiscal year ends in June.

Forecast for FY25:

Jarden forecasts a full year FY25 dividend of 235.40 cents and EPS of 430.70 cents.
At the last closing share price the estimated dividend yield is 0.99%.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 55.31.

How do these forecasts compare to market consensus projections?

Current consensus EPS estimate is 429.8, implying annual growth of 87.4%.
Current consensus DPS estimate is 233.7, implying a prospective dividend yield of 1.0%.
Current consensus EPS estimate suggests the PER is 55.4.

Forecast for FY26:

Jarden forecasts a full year FY26 dividend of 278.70 cents and EPS of 514.80 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 46.27.

How do these forecasts compare to market consensus projections?

Current consensus EPS estimate is 516.5, implying annual growth of 20.2%.
Current consensus DPS estimate is 282.3, implying a prospective dividend yield of 1.2%.
Current consensus EPS estimate suggests the PER is 46.1.

Market Sentiment: 0.4
All consensus data are updated until yesterday. FNArena’s consensus calculations require a minimum of three sources

S32    SOUTH32 LIMITED

Mining – Overnight Price: $3.05

Canaccord Genuity rates ((S32)) as Hold (3) –

Canaccord Genuity highlights investors are likely to be positive about South32’s better-than-expected manganese production for 4Q25.

Alumina production was in line and aluminium production slightly higher than expected, with copper in line and silver at Cannington a slight miss to the broker and consensus estimates.

South32 has flagged a review of the Cannington mine plan “in response to increasing underground complexity” with a further update at the FY25 earnings announcement.

Hold. Target unchanged at $2.60.

This report was published on July 21, 2025.

Target price is $2.60 Current Price is $3.05 Difference: minus $0.45 (current price is over target).
If S32 meets the Canaccord Genuity target it will return approximately minus 15% (excluding dividends, fees and charges – negative figures indicate an expected loss).
Current consensus price target is $3.60, suggesting upside of 18.0%(ex-dividends)
The company’s fiscal year ends in June.

Forecast for FY25:

Canaccord Genuity forecasts a full year FY25 dividend of 8.23 cents and EPS of 19.42 cents.
At the last closing share price the estimated dividend yield is 2.70%.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 15.70.

How do these forecasts compare to market consensus projections?

Current consensus EPS estimate is 24.3, implying annual growth of N/A.
Current consensus DPS estimate is 9.6, implying a prospective dividend yield of 3.1%.
Current consensus EPS estimate suggests the PER is 12.6.

Forecast for FY26:

Canaccord Genuity forecasts a full year FY26 dividend of 5.41 cents and EPS of 12.05 cents.
At the last closing share price the estimated dividend yield is 1.77%.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 25.32.

How do these forecasts compare to market consensus projections?

Current consensus EPS estimate is 31.2, implying annual growth of 28.4%.
Current consensus DPS estimate is 11.2, implying a prospective dividend yield of 3.7%.
Current consensus EPS estimate suggests the PER is 9.8.

This company reports in USD. All estimates have been converted into AUD by FNArena at present FX values.
Market Sentiment: 0.7
All consensus data are updated until yesterday. FNArena’s consensus calculations require a minimum of three sources

SLC    SUPERLOOP LIMITED

Telecommunication – Overnight Price: $3.12

Jarden rates ((SLC)) as Buy (1) –

Ahead of August reporting season, Jarden lifts the target price on Superloop to $3.10 with no change to Overweight rating or earnings forecasts.

The company is due to report on August 20.

This report was published on July 17, 2025.

Target price is $3.10 Current Price is $3.12 Difference: minus $0.02 (current price is over target).
If SLC meets the Jarden target it will return approximately minus 1% (excluding dividends, fees and charges – negative figures indicate an expected loss).
Current consensus price target is $3.50, suggesting upside of 12.2%(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 5.50 cents.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 56.73.

How do these forecasts compare to market consensus projections?

Current consensus EPS estimate is 4.7, 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 66.4.

Forecast for FY26:

Jarden forecasts a full year FY26 dividend of 0.00 cents and EPS of 9.60 cents.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 32.50.

How do these forecasts compare to market consensus projections?

Current consensus EPS estimate is 6.9, implying annual growth of 46.8%.
Current consensus DPS estimate is N/A, implying a prospective dividend yield of N/A.
Current consensus EPS estimate suggests the PER is 45.2.

Market Sentiment: 0.9
All consensus data are updated until yesterday. FNArena’s consensus calculations require a minimum of three sources

TLS    TELSTRA GROUP LIMITED

Telecommunication – Overnight Price: $4.92

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

Ahead of August reporting season, Jarden lifts the target price on Telstra Group to $4.90 from $4.70 with no change to Overweight rating.

The analyst lifts FY25 EPS forecast by 0.5% and lowers FY26 by -0.2%.

The company is due to report on August 14.

This report was published on July 17, 2025.

Target price is $4.90 Current Price is $4.92 Difference: minus $0.02 (current price is over target).
If TLS meets the Jarden target it will return approximately minus 0% (excluding dividends, fees and charges – negative figures indicate an expected loss).
Current consensus price target is $4.87, suggesting downside of -1.0%(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 19.10 cents.
At the last closing share price the estimated dividend yield is 3.86%.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 25.76.

How do these forecasts compare to market consensus projections?

Current consensus EPS estimate is 19.3, implying annual growth of 37.4%.
Current consensus DPS estimate is 19.2, implying a prospective dividend yield of 3.9%.
Current consensus EPS estimate suggests the PER is 25.5.

Forecast for FY26:

Jarden forecasts a full year FY26 dividend of 20.00 cents and EPS of 21.20 cents.
At the last closing share price the estimated dividend yield is 4.07%.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 23.21.

How do these forecasts compare to market consensus projections?

Current consensus EPS estimate is 21.5, implying annual growth of 11.4%.
Current consensus DPS estimate is 20.6, implying a prospective dividend yield of 4.2%.
Current consensus EPS estimate suggests the PER is 22.9.

Market Sentiment: 0.4
All consensus data are updated until yesterday. FNArena’s consensus calculations require a minimum of three sources

TPG    TPG TELECOM LIMITED

Telecommunication – Overnight Price: $5.47

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

Ahead of August reporting season, Jarden lifts the target price on TPG Telecom to $5.50 from $5.10 with no change to Overweight rating or earnings forecasts.

The company is due to report on August 28.

This report was published on July 17, 2025.

Target price is $5.50 Current Price is $5.47 Difference: $0.03
If TPG meets the Jarden target it will return approximately 1% (excluding dividends, fees and charges).
Current consensus price target is $5.09, suggesting downside of -7.0%(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 3.47%.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 31.08.

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 18.5, implying a prospective dividend yield of 3.4%.
Current consensus EPS estimate suggests the PER is 28.8.

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 3.84%.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 25.21.

How do these forecasts compare to market consensus projections?

Current consensus EPS estimate is 23.9, implying annual growth of 25.8%.
Current consensus DPS estimate is 20.0, implying a prospective dividend yield of 3.7%.
Current consensus EPS estimate suggests the PER is 22.9.

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

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