Daily Market Reports | 10:30 AM
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
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