Australian Broker Call *Extra* Edition – Jul 24, 2025

This story features AIC MINES LIMITED, and other companies.
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The company is included in ALL-ORDS

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)

A1M   ALL   AMI   AMP   CAR   CEN   CMM   CU6   CVN   EBO   GNE   JHX   PLT   PMT   PNR   PPS (3)   QOR   RRL   RXL   SIG   SKT   STK   SYR   TLX  

A1M    AIC MINES LIMITED

Gold & Silver – Overnight Price: $0.34

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 $0.34 Difference: $0.06
If A1M meets the Moelis target it will return approximately 18% (excluding dividends, fees and charges).
Current consensus price target is $0.60, suggesting upside of 76.5%(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 16.19.

How do these forecasts compare to market consensus projections?

Current consensus EPS estimate is 2.9, implying annual growth of 77.9%.
Current consensus DPS estimate is N/A, implying a prospective dividend yield of N/A.
Current consensus EPS estimate suggests the PER is 11.7.

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 10.30.

How do these forecasts compare to market consensus projections?

Current consensus EPS estimate is 3.9, implying annual growth of 34.5%.
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: 1.0
All consensus data are updated until yesterday. FNArena’s consensus calculations require a minimum of three sources

ALL    ARISTOCRAT LEISURE LIMITED

Gaming – Overnight Price: $67.50

Jarden rates ((ALL)) as Neutral (3) –

Jarden highlights recent data infers Aristocrat Leisure’s industry-leading game performance has continued into June 2025, with Dragon Line showing “excellent” performance and no cannibalisation following the introduction of sister game, Phoenix Link.

There has also been a pickup in sales momentum by franchises including Mo Mummy and Bao Zhu Zhao Fu, the broker notes.

Jarden continues to like the gaming supplier industry with Aristocrat as a market leader in a position to continue to take market share.

No change in Neutral rating and $64 target. No change in the analyst’s earnings forecasts.

This report was published on July 23, 2025.

Target price is $64.00 Current Price is $67.50 Difference: minus $3.5 (current price is over target).
If ALL meets the Jarden target it will return approximately minus 5% (excluding dividends, fees and charges – negative figures indicate an expected loss).
Current consensus price target is $73.23, suggesting upside of 8.5%(ex-dividends)
The company’s fiscal year ends in September.

Forecast for FY25:

Jarden forecasts a full year FY25 dividend of 91.00 cents and EPS of 243.20 cents.
At the last closing share price the estimated dividend yield is 1.35%.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 27.75.

How do these forecasts compare to market consensus projections?

Current consensus EPS estimate is 245.1, implying annual growth of 19.7%.
Current consensus DPS estimate is 85.9, implying a prospective dividend yield of 1.3%.
Current consensus EPS estimate suggests the PER is 27.5.

Forecast for FY26:

Jarden forecasts a full year FY26 dividend of 106.00 cents and EPS of 282.70 cents.
At the last closing share price the estimated dividend yield is 1.57%.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 23.88.

How do these forecasts compare to market consensus projections?

Current consensus EPS estimate is 275.6, implying annual growth of 12.4%.
Current consensus DPS estimate is 94.7, implying a prospective dividend yield of 1.4%.
Current consensus EPS estimate suggests the PER is 24.5.

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

AMI    AURELIA METALS LIMITED

Gold & Silver – Overnight Price: $0.21

Moelis rates ((AMI)) as Buy (1) –

Aurelia Metals released June quarter production of 7.3koz of gold and 0.3kt of copper, 7.5kt of zinc and 4.9kt of lead, with much of the headline numbers pre-released.

Moelis emphasises weaker realised prices, sales and payability resulted in lower than expected revenue with overall higher costs for the quarter.

The analyst believes the recent newsflow from Aurelia on a material rise in capex and operating costs has lowered investor interest. The changes have removed all free cash flow in the business until the benefits of plant expansion and Great Cobra emerge in late FY27 and FY28.

Buy rated with 31c target, down from 32c.

This report was published on July 23, 2025.

Target price is $0.31 Current Price is $0.21 Difference: $0.1
If AMI meets the Moelis target it will return approximately 48% (excluding dividends, fees and charges).
Current consensus price target is $0.36, suggesting upside of 75.6%(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 2.00 cents.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 10.50.

How do these forecasts compare to market consensus projections?

Current consensus EPS estimate is 2.9, 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 7.1.

Forecast for FY26:

Moelis forecasts a full year FY26 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 10.00.

How do these forecasts compare to market consensus projections?

Current consensus EPS estimate is 2.0, implying annual growth of -31.0%.
Current consensus DPS estimate is N/A, implying a prospective dividend yield of N/A.
Current consensus EPS estimate suggests the PER is 10.3.

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

AMP    AMP LIMITED

Wealth Management & Investments – Overnight Price: $1.66

Jarden rates ((AMP)) as Neutral (3) –

Jarden views AMP’s repositioning toward Australian Wealth Management positively, particularly with a growing focus on retirement solutions through its Lifetime product and improved adviser efficiency.

2Q25 net platform flows of $769m beat the broker’s expectations, offsetting weaker market returns and supporting growth in platform funds under administration (FUA) to $83.2bn.

Investor Day reaffirmed management’s ambition to capture share in the around $2.4trn retirement market, although actual flows into its Lifetime offering remain modest at $465m since its 2022 launch, comment the analysts.

Jarden revises FY25-27 underlying EPS forecasts by -0.1%, -0.8%, and 2.4% respectively, driven by stronger flow assumptions but higher controllable cost expectations. The target price is raised to $1.55 from $1.40. Neutral rating unchanged.

This report was published on July 22, 2025.

Target price is $1.55 Current Price is $1.66 Difference: minus $0.11 (current price is over target).
If AMP meets the Jarden target it will return approximately minus 7% (excluding dividends, fees and charges – negative figures indicate an expected loss).
Current consensus price target is $1.75, suggesting upside of 6.0%(ex-dividends)
The company’s fiscal year ends in December.

Forecast for FY25:

Jarden forecasts a full year FY25 dividend of 4.00 cents and EPS of 11.30 cents.
At the last closing share price the estimated dividend yield is 2.41%.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 14.69.

How do these forecasts compare to market consensus projections?

Current consensus EPS estimate is 9.9, implying annual growth of 39.6%.
Current consensus DPS estimate is 4.0, implying a prospective dividend yield of 2.4%.
Current consensus EPS estimate suggests the PER is 16.7.

Forecast for FY26:

Jarden forecasts a full year FY26 dividend of 5.00 cents and EPS of 11.70 cents.
At the last closing share price the estimated dividend yield is 3.01%.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 14.19.

How do these forecasts compare to market consensus projections?

Current consensus EPS estimate is 10.8, implying annual growth of 9.1%.
Current consensus DPS estimate is 5.0, implying a prospective dividend yield of 3.0%.
Current consensus EPS estimate suggests the PER is 15.3.

Market Sentiment: 0.6
All consensus data are updated until yesterday. FNArena’s consensus calculations require a minimum of three sources

CAR    CAR GROUP LIMITED

Automobiles & Components – Overnight Price: $37.32

Jarden rates ((CAR)) as Neutral (3) –

Jarden views the appointment of CAR Group’s CFO, William Elliot, as new MD and CEO will result in little change at the company, while acknowledging the departure of current MD and CEO, Cameron McIntyre, as a loss.

The company also issued an FY25 earnings result estimate which was in line with market expectations and pointed to momentum being maintained into FY26.

Jarden expects few surprises in the FY25 earnings report on August 11 but questions whether market expectations are too high for FY26. The analyst is currently forecasting EPS growth of 13% for FY26 versus expected growth of 10% for FY25.

Neutral retained with $34.50 target price.

This report was published on July 22, 2025.

Target price is $34.50 Current Price is $37.32 Difference: minus $2.82 (current price is over target).
If CAR meets the Jarden target it will return approximately minus 8% (excluding dividends, fees and charges – negative figures indicate an expected loss).
Current consensus price target is $41.57, suggesting upside of 11.4%(ex-dividends)
The company’s fiscal year ends in June.

Forecast for FY25:

Jarden forecasts a full year FY25 dividend of 80.00 cents and EPS of 100.40 cents.
At the last closing share price the estimated dividend yield is 2.14%.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 37.17.

How do these forecasts compare to market consensus projections?

Current consensus EPS estimate is 97.2, implying annual growth of 46.6%.
Current consensus DPS estimate is 81.8, implying a prospective dividend yield of 2.2%.
Current consensus EPS estimate suggests the PER is 38.4.

Forecast for FY26:

Jarden forecasts a full year FY26 dividend of 91.10 cents and EPS of 113.60 cents.
At the last closing share price the estimated dividend yield is 2.44%.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 32.85.

How do these forecasts compare to market consensus projections?

Current consensus EPS estimate is 110.7, implying annual growth of 13.9%.
Current consensus DPS estimate is 92.4, implying a prospective dividend yield of 2.5%.
Current consensus EPS estimate suggests the PER is 33.7.

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

CEN    CONTACT ENERGY LIMITED

Infrastructure & Utilities – Overnight Price: $8.33

Jarden rates ((CEN)) as Buy (1) –

After reviewing Contact Energy’s June operating report, Jarden maintains a Buy rating, noting updated indication for FY25 earnings (EBITDA) of NZ$774m exceeded its own NZ$765m forecast as well as the company’s prior guidance.

Geothermal generation rose 34% year-on-year to 4,543GWh, offsetting declines in hydro (-9%) and thermal (-33%), explains the broker, Due to higher gas prices, observes the analyst, average unit generation cost rose to NZ$54.40/MWh.

Retail mass market netback averaged NZ$145.16/MWh, up 9% on FY24, supporting Jarden’s confidence in organic earnings growth.

Major projects under development include Glenbrook battery (-NZ$163m), Kowhai Park Solar JV (-NZ$273m), and Te Mihi Stage 2 geothermal (-NZ$712m), highlights the broker.

Jarden retains its NZ$10.83 12-month target price and Buy rating.

This report was published on July 21, 2025.

Current Price is $8.33. Target price not assessed.
The company’s fiscal year ends in June.

Forecast for FY25:

Jarden forecasts a full year FY25 dividend of 35.61 cents and EPS of 49.95 cents.
At the last closing share price the estimated dividend yield is 4.27%.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 16.68.

Forecast for FY26:

Jarden forecasts a full year FY26 dividend of 36.52 cents and EPS of 46.93 cents.
At the last closing share price the estimated dividend yield is 4.38%.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 17.75.

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

CMM    CAPRICORN METALS LIMITED

Gold & Silver – Overnight Price: $9.60

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

Jarden raises its long-term gold price forecast to US$2,400/oz, with near-term upgrades to US$3,050/oz for FY26 and US$2,800/oz for FY27. As a result, the broker’s target for Capricorn Metals rises to $9.75 from $9.28.

The company has met the top end of FY25 guidance with 117koz of gold produced at costs of $1,468/oz. June quarter metrics validate readiness for expansion at Karlawinda, suggest the analysts.

FY26 production is forecast at 114koz at $1,537/oz, slightly below consensus, and group capex is projected at -$336m due to the Karlawinda Expansion Project and Mt Gibson Gold Project.

The broker’s earnings forecasts rise in FY26 and FY28 with margins of 68% and 57%, and free cash flow improving to 12% by FY28.

Jarden retains an Overweight rating on “compelling value”, a debt-free balance sheet with $356m cash, and a clear pathway to 300koz annual production.

This report was published on July 22, 2025.

Target price is $9.75 Current Price is $9.60 Difference: $0.15
If CMM meets the Jarden target it will return approximately 2% (excluding dividends, fees and charges).
Current consensus price target is $9.47, suggesting downside of -1.4%(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 41.00 cents.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 23.41.

How do these forecasts compare to market consensus projections?

Current consensus EPS estimate is 36.4, implying annual growth of 57.4%.
Current consensus DPS estimate is N/A, implying a prospective dividend yield of N/A.
Current consensus EPS estimate suggests the PER is 26.4.

Forecast for FY26:

Jarden forecasts a full year FY26 dividend of 0.00 cents and EPS of 56.10 cents.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 17.11.

How do these forecasts compare to market consensus projections?

Current consensus EPS estimate is 50.4, implying annual growth of 38.5%.
Current consensus DPS estimate is N/A, implying a prospective dividend yield of N/A.
Current consensus EPS estimate suggests the PER is 19.0.

Market Sentiment: 0.2
All consensus data are updated until yesterday. FNArena’s consensus calculations require a minimum of three sources

CU6    CLARITY PHARMACEUTICALS LIMITED

Medical Equipment & Devices – Overnight Price: $3.91

Canaccord Genuity rates ((CU6)) as Buy (1) –

Following discussions with industry experts, Canaccord Genuity is more positive about the commercial potential of Clarity Pharmaceuticals’ 64Cu-SAR-bisPSMA ahead of the upcoming Co-PSMA head-to-head trial readout.

The broker notes current PSMA scans show only 38-53% detection rates in patients with PSA levels between 0.2–1.0 ng/mL, a significant limitation. This could materially improve with the company’s agent, and result in wider adoption, better outcomes, and larger addressable market share.

Buy. Target lifted to $9.00 from $6.74.

This report was published on July 21, 2025.

Target price is $9.00 Current Price is $3.91 Difference: $5.09
If CU6 meets the Canaccord Genuity target it will return approximately 130% (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 18.60 cents.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is minus 21.02.

Forecast for FY26:

Canaccord Genuity forecasts a full year FY26 dividend of 0.00 cents and EPS of minus 27.40 cents.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is minus 14.27.

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

CVN    CARNARVON ENERGY LIMITED

Crude Oil – Overnight Price: $0.11

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

Jarden notes Carnarvon Energy is going to become the largest shareholder in Perth Basin company Strike Energy ((STX)) by acquiring a 19.9% stake for -$89m at a discounted price of 12c per share.

The analyst views the move as surprising given the company had only just pivoted to possibly returning cash to shareholders and retaining cash for investment in Dorado oil and gas field development.

Overweight. Target set at 15c.

This report was published on July 22, 2025.

Target price is $0.15 Current Price is $0.11 Difference: $0.04
If CVN meets the Jarden target it will return approximately 36% (excluding dividends, fees and charges).
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 0.20 cents.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 55.00.

Forecast for FY26:

Jarden forecasts a full year FY26 dividend of 0.00 cents and EPS of 0.20 cents.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 55.00.

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

EBO    EBOS GROUP LIMITED

Healthcare services – Overnight Price: $36.65

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

Jarden reiterates its Overweight rating on Ebos Group, noting the strong structural growth in PBS expenditure as a key underpinning of the company’s forward earnings.

The broker highlights an around 9% compound annual growth rate (CAGR) in PBS spend over the past three years.

This growth rate is supported by drug innovation and a favourable regulatory backdrop under the 8th Community Pharmacy Agreement and First Pharmaceutical Wholesaler Agreement, explain the analysts.

The group is expected to benefit from consistent high single-digit growth in S-85 (Community Pharmacy) and circa 7% growth in S-100 (Hospital), with additional upside from GLP-1 penetration if PBS expands coverage.

The broker flags potential EPS upgrades by the market pending policy clarity and lifts its FY27 and FY28 forecasts by 2% and 3% respectively. The target price is raised to NZ$43.20 from NZ$41.60.

This report was published on July 19, 2025.

Current Price is $36.65. Target price not assessed.
Current consensus price target is $36.32, suggesting downside of -0.9%(ex-dividends)
The company’s fiscal year ends in June.

Forecast for FY25:

Jarden forecasts a full year FY25 dividend of 108.00 cents and EPS of 143.50 cents.
At the last closing share price the estimated dividend yield is 2.95%.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 25.54.

How do these forecasts compare to market consensus projections?

Current consensus EPS estimate is 137.2, implying annual growth of -2.9%.
Current consensus DPS estimate is 107.3, implying a prospective dividend yield of 2.9%.
Current consensus EPS estimate suggests the PER is 26.7.

Forecast for FY26:

Jarden forecasts a full year FY26 dividend of 113.00 cents and EPS of 161.00 cents.
At the last closing share price the estimated dividend yield is 3.08%.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 22.76.

How do these forecasts compare to market consensus projections?

Current consensus EPS estimate is 158.4, implying annual growth of 15.5%.
Current consensus DPS estimate is 118.8, implying a prospective dividend yield of 3.2%.
Current consensus EPS estimate suggests the PER is 23.1.

Market Sentiment: 0.3
All consensus data are updated until yesterday. FNArena’s consensus calculations require a minimum of three sources

GNE    GENESIS ENERGY LIMITED

Infrastructure & Utilities – Overnight Price: $2.16

Jarden rates ((GNE)) as Buy (1) –

Genesis Energy’s 4Q25 update infers earnings (EBITDA) of around NZ$461m, which is slightly above guidance at NZ$461m and basically in line with the broker’s estimate of NZ$465m, and reflects growth of 14% on a year earlier.

The company is due to report FY25 earnings on August 25.

Buy. Target price NZ$2.99.

This report was published on July 22, 2025.

Current Price is $2.16. Target price not assessed.
The company’s fiscal year ends in June.

Forecast for FY25:

Jarden forecasts a full year FY25 dividend of 13.06 cents and EPS of 12.78 cents.
At the last closing share price the estimated dividend yield is 6.04%.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 16.90.

Forecast for FY26:

Jarden forecasts a full year FY26 dividend of 13.51 cents and EPS of 19.91 cents.
At the last closing share price the estimated dividend yield is 6.26%.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 10.85.

This company reports in NZD. 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

JHX    JAMES HARDIE INDUSTRIES PLC

Building Products & Services – Overnight Price: $41.79

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

Jarden observes the successful refinancing of James Hardie Industries’ debt facilities relating to the completion of the Azek deal and has achieved relatively attractive rates around 5.7% pre-tax with some flexibility.

The analyst estimates post-deal leverage for the company at 3.2 times net debt/EBITDA, with the S&P credit rating report noting covenants set at 4.25 times net debt/EBITDA.

A US$500m buyback is included in Jarden’s forecasts based on more than sufficient manufacturing capacity and cost savings targets.

No change to Overweight rating. Target remains at $44.

This report was published on July 22, 2025.

Target price is $44.00 Current Price is $41.79 Difference: $2.21
If JHX meets the Jarden target it will return approximately 5% (excluding dividends, fees and charges).
Current consensus price target is $45.80, suggesting upside of 9.6%(ex-dividends)
The company’s fiscal year ends in March.

Forecast for FY26:

Jarden forecasts a full year FY26 dividend of 0.00 cents and EPS of 165.77 cents.
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 225.7, 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 18.5.

Forecast for FY27:

Jarden forecasts a full year FY27 dividend of 0.00 cents and EPS of 220.35 cents.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 18.97.

How do these forecasts compare to market consensus projections?

Current consensus EPS estimate is 256.6, implying annual growth of 13.7%.
Current consensus DPS estimate is N/A, implying a prospective dividend yield of N/A.
Current consensus EPS estimate suggests the PER is 16.3.

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

PLT    PLENTI GROUP LIMITED

Business & Consumer Credit – Overnight Price: $0.95

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

At first inspection, Wilsons highlights Plenti Group’s 1Q26 revenue of $73.3m, a rise of 20% on the prior year, which infers 2Q26 revenue of $76.3m is needed to reach the analyst’s 1H26 forecast of $150m.

The estimate is viewed as achievable, with momentum from the National Australia Bank ((NAB)) partnership increasing loan originations.

The broker also points to growth in personal and auto lending, while the Federal government’s $2.3bn Cheaper Home Batteries Program should be a further tailwind for loan origination growth.

Wilsons sees the quarterly update as validation of Plenti’s “profitable growth” trajectory. The analyst’s earnings forecasts are under review.

This report was published on July 23, 2025.

Target price is $1.32 Current Price is $0.95 Difference: $0.37
If PLT meets the Wilsons target it will return approximately 39% (excluding dividends, fees and charges).
The company’s fiscal year ends in March.

Forecast for FY26:

Wilsons forecasts a full year FY26 dividend of 0.00 cents.

Forecast for FY27:

Wilsons forecasts a full year FY27 dividend of 0.00 cents.

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

PMT    PATRIOT BATTERY METALS INC

Mining – Overnight Price: $0.50

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

Patriot Battery Metals announced a maiden cesium resource within the CV13 open-pit deposit at Shaakichiuwaanaan, now considered the world’s largest pollucite-hosted cesium deposit.

Total contained cesium is 30.5kt cesium oxide Indicated and 40.8kt Inferred. Canaccord Genuity highlights this positions the company as a unique cesium player, offering by-product credit potential alongside its lithium development strategy.

The company remains on track for maiden reserves and a DFS in the September quarter.

Speculative Buy. Target unchanged at 55c.

This report was published on July 22, 2025.

Target price is $0.55 Current Price is $0.50 Difference: $0.05
If PMT meets the Canaccord Genuity target it will return approximately 10% (excluding dividends, fees and charges).
Current consensus price target is $0.65, suggesting upside of 30.0%(ex-dividends)
The company’s fiscal year ends in March.

Forecast for FY25:

Canaccord Genuity forecasts a full year FY25 dividend of 0.00 cents and EPS of minus 0.10 cents.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is minus 500.00.

How do these forecasts compare to market consensus projections?

Current consensus EPS estimate is -7.5, 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 0.09 cents.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is minus 561.80.

How do these forecasts compare to market consensus projections?

Current consensus EPS estimate is -11.2, 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.

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

PNR    PANTORO GOLD LIMITED

Gold & Silver – Overnight Price: $3.84

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

Pantoro Gold’s June quarter production was in line with Canaccord Genuity and consensus forecasts , but the cost beat both the broker and the consensus by 7%. Revenue was marginally higher than the broker’s estimate.

FY26 production was guided at 100-100koz at a cost of $1,950-2,250/oz, prompting the broker to cut its production forecast by -1% and cost by -2%. Growth capex and exploration spend estimates were revised higher to align with the company’s guidance.

Speculative Buy. Target unchanged at $3.75.

This report was published on July 22, 2025.

Target price is $3.75 Current Price is $3.84 Difference: minus $0.09 (current price is over target).
If PNR meets the Canaccord Genuity target it will return approximately minus 2% (excluding dividends, fees and charges – negative figures indicate an expected loss).
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 22.00 cents.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 17.45.

Forecast for FY26:

Canaccord Genuity forecasts a full year FY26 dividend of 0.00 cents and EPS of 46.00 cents.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 8.35.

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: $0.74

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

Canaccord Genuity describes Praemium’s June quarter results as mixed, with the platform seeing net outflow of -$37m but the FY25 funds under administration (FUA) in line with the forecast and consensus at $30.7bn.

The highlight was Spectrum net inflow of $339m and FUA of $2.4bn, and the broker expects more benefit over time from the recent partnership with Euroz Hartleys.

Commentary highlights Powerwrap saw a challenging period, but the outlook is considered positive.

Minor revisions to forecasts. Buy. Target price 99c.

This report was published on July 22, 2025.

Target price is $0.99 Current Price is $0.74 Difference: $0.25
If PPS meets the Canaccord Genuity target it will return approximately 34% (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 2.00 cents and EPS of 4.00 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 18.50.

Forecast for FY26:

Canaccord Genuity forecasts a full year FY26 dividend of 2.30 cents and EPS of 5.00 cents.
At the last closing share price the estimated dividend yield is 3.11%.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 14.80.

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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Moelis rates ((PPS)) as Buy (1) –

Praemium announced platform funds under administration up 19.5%, excluding OneVue, for the June quarter, which was above Moelis’ forecast and included growth of SMAs of 13.8% on a year earlier.

Powerwrap achieved growth of 5.9%. Spectrum funds under administration came in at $2.4bn.

The company announced client partnerships wins over the period, including Euroz Hartleys, Morgans and Bell Potter, with the broker pointing to the “encouraging” sales outlook for Spectrum.

Some 50% of OneVue’s funds under administration has moved to Praemium product and technology.

Moelis retains a Buy rating and lowers the target price to 99c from $1.01.

This report was published on July 23, 2025.

Target price is $0.99 Current Price is $0.74 Difference: $0.25
If PPS meets the Moelis target it will return approximately 34% (excluding dividends, fees and charges).
The company’s fiscal year ends in June.

Forecast for FY25:

Moelis forecasts a full year FY25 dividend of 1.70 cents and EPS of 2.90 cents.
At the last closing share price the estimated dividend yield is 2.30%.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 25.52.

Forecast for FY26:

Moelis forecasts a full year FY26 dividend of 2.20 cents and EPS of 3.40 cents.
At the last closing share price the estimated dividend yield is 2.97%.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 21.76.

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

Wilsons believes Praemium’s share price reaction to the quarterly update was surprising, which sent the stock down at an intraday low of -12% before closing off -6%.

As the analyst suggested in yesterday’s update, the quarterly report was viewed positively and as “quite constructive,” with OneVue clients moving to Spectrum rather than competitors.

The broker lifts EPS forecasts by 1%-3% for FY25-FY27 due to the previously announced non-custodial arrangement with Bell Potter.

Target price moves to 75 from 71c. No change to Market Weight.

This report was published on July 23, 2025.

Target price is $0.75 Current Price is $0.74 Difference: $0.01
If PPS meets the Wilsons target it will return approximately 1% (excluding dividends, fees and charges).
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 2.84%.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 21.76.

Forecast for FY26:

Wilsons forecasts a full year FY26 dividend of 2.20 cents and EPS of 3.60 cents.
At the last closing share price the estimated dividend yield is 2.97%.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 20.56.

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

QOR    QORIA LIMITED

Software & Services – Overnight Price: $0.51

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

Qoria reported 4Q25 annual recurring revenue of $145m, up 7% on the previous quarter and 50% on a year earlier, organically. Excluding a forex impact of -$4m, the result was $149m.

Education added $12m and Qustodio around $2m, with the US as the notable growth area, up 29% on the prior year, and the UK was weaker than expected at 6% growth.

Qustodio rose 21% to US$18m, but A&NZ underwhelmed at around US$5m. The broker notes cash receipts were flat at $21.2m while multi-year upfront contracts fell to under 10% growth in FY25, from around 20% in FY24.

Overweight rating maintained with 66c target. Wilsons lowers FY26 and FY27 earnings (EBITDA) forecasts by -13%, aligning with the decline in forecast annual recurring revenue expectations.

This report was published on July 23, 2025.

Target price is $0.66 Current Price is $0.51 Difference: $0.15
If QOR meets the Wilsons target it will return approximately 29% (excluding dividends, fees and charges).
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 2.10 cents.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is minus 24.29.

Forecast for FY26:

Wilsons forecasts a full year FY26 dividend of 0.00 cents and EPS of 0.20 cents.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 255.00.

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

RRL    REGIS RESOURCES LIMITED

Gold & Silver – Overnight Price: $4.46

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

Canaccord Genuity notes Regis Resources achieved FY25 guidance with 373koz production at cost of $2,531/oz, including $69/oz non-cash stockpile costs. Growth capex was lower than the broker’s forecast, while exploration spending was higher.

4Q25 production was pre-reported and in line with consensus, and group cost also met expectations.

For FY26, the company guided to flat y/y production and 11% y/y rise in cost. The broker lifted FY26 production forecast by 2%, cost forecast by 6% and growth capex by 25%.

Hold. Target price $4.25.

This report was published on July 21, 2025.

Target price is $4.25 Current Price is $4.46 Difference: minus $0.21 (current price is over target).
If RRL meets the Canaccord Genuity target it will return approximately minus 5% (excluding dividends, fees and charges – negative figures indicate an expected loss).
Current consensus price target is $4.27, suggesting downside of -4.2%(ex-dividends)
The company’s fiscal year ends in June.

Forecast for FY25:

Canaccord Genuity forecasts a full year FY25 dividend of 3.00 cents and EPS of 38.00 cents.
At the last closing share price the estimated dividend yield is 0.67%.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 11.74.

How do these forecasts compare to market consensus projections?

Current consensus EPS estimate is 34.9, implying annual growth of N/A.
Current consensus DPS estimate is 2.8, implying a prospective dividend yield of 0.6%.
Current consensus EPS estimate suggests the PER is 12.8.

Forecast for FY26:

Canaccord Genuity forecasts a full year FY26 dividend of 2.00 cents and EPS of 57.00 cents.
At the last closing share price the estimated dividend yield is 0.45%.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 7.82.

How do these forecasts compare to market consensus projections?

Current consensus EPS estimate is 52.1, implying annual growth of 49.3%.
Current consensus DPS estimate is 8.9, implying a prospective dividend yield of 2.0%.
Current consensus EPS estimate suggests the PER is 8.6.

Market Sentiment: -0.2
All consensus data are updated until yesterday. FNArena’s consensus calculations require a minimum of three sources

RXL    ROX RESOURCES LIMITED

Gold & Silver – Overnight Price: $0.32

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

Rox Resources published an updated resource for its 100%-owned Youanmi gold project, which was -6% lower than the previous one in January 2024. 

Canaccord Genuity sees this as immaterial, as the downgrade was in the open pit resource, whereas its development scenario is focused on the underground component.

The broker remains of the view there is potential to extend the 8-year life of mine outlined in the 750ktpa pre-feasibility study that produced around 100kozpa. 

Speculative Buy. Target unchanged at 67c.

This report was published on July 21, 2025.

Target price is $0.67 Current Price is $0.32 Difference: $0.35
If RXL meets the Canaccord Genuity target it will return approximately 109% (excluding dividends, fees and charges).

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

SIG    SIGMA HEALTHCARE LIMITED

Health & Nutrition – Overnight Price: $2.86

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

Jarden flags Sigma Healthcare is aiming to lift the store size for Chemist Warehouse, with many of the older stores now space constrained and smaller at under 400sqm.

The analyst expects Sigma will increase the store size, which will lower sales per sqm but result in higher average store sales, which is a net positive. Chemist Warehouse currently generates around $13.9m sales per store and sales per sqm of around $26k, on Jarden’s estimates.

Assuming around 20%-25% of the network is overtrading (smaller stores), the analyst believes net sales can grow at over 50% of incremental space uplift, with over 7% group sales as a potential tailwind in the next five years.

No change to Overweight rating and $3.30 target. The broker’s EPS estimates remain unchanged.

This report was published on July 22, 2025.

Target price is $3.30 Current Price is $2.86 Difference: $0.44
If SIG meets the Jarden target it will return approximately 15% (excluding dividends, fees and charges).
Current consensus price target is $3.01, suggesting upside of 5.4%(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 5.00 cents.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 57.20.

How do these forecasts compare to market consensus projections?

Current consensus EPS estimate is 4.5, implying annual growth of 922.7%.
Current consensus DPS estimate is 1.6, implying a prospective dividend yield of 0.6%.
Current consensus EPS estimate suggests the PER is 63.6.

Forecast for FY26:

Jarden forecasts a full year FY26 dividend of 3.60 cents and EPS of 5.90 cents.
At the last closing share price the estimated dividend yield is 1.26%.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 48.47.

How do these forecasts compare to market consensus projections?

Current consensus EPS estimate is 6.2, implying annual growth of 37.8%.
Current consensus DPS estimate is 3.7, implying a prospective dividend yield of 1.3%.
Current consensus EPS estimate suggests the PER is 46.1.

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

SKT    SKY NETWORK TELEVISION LIMITED

Print, Radio & TV – Overnight Price: $2.85

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

Jarden likes SKY Network Television’s acquisition of Discovery NZ for -NZ$1 with around -NZ$10m in transaction and integration costs, and the timing of the deal at a low point in the advertising cycle infers value accretion will be easier to generate.

The analyst notes Discovery has already downsized the workforce, shut down news and limited content creation.

Commentary suggests cost synergy benefits should deliver at least NZ$10m in sustainable earnings before interest and tax by FY28.

Target price lifted to NZ$3.15 from NZ$2.95. Overweight retained. No change to the broker’s EPS estimates.

This report was published on July 22, 2025.

Current Price is $2.85. Target price not assessed.
The company’s fiscal year ends in June.

Forecast for FY25:

Jarden forecasts a full year FY25 dividend of 19.18 cents and EPS of 28.21 cents.
At the last closing share price the estimated dividend yield is 6.73%.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 10.10.

Forecast for FY26:

Jarden forecasts a full year FY26 dividend of 27.39 cents and EPS of 35.06 cents.
At the last closing share price the estimated dividend yield is 9.61%.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 8.13.

This company reports in NZD. 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

STK    STRICKLAND METALS LIMITED

Mining – Overnight Price: $0.16

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

Strickland Metals published assay results from three diamond drill holes at the Gradina prospect within the Rogozna project in Serbia which showed more high-grade gold mineralisation.

The results are in line with Canaccord Genuity’s view that Gradina will be a key growth driver for Rogozna. The company is progressing towards a maiden resource for Gradina by late 2025.

Buy. Target price 42c.

This report was published on July 22, 2025.

Target price is $0.42 Current Price is $0.16 Difference: $0.26
If STK meets the Canaccord Genuity target it will return approximately 163% (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 0.00 cents.

Forecast for FY26:

Canaccord Genuity forecasts a full year FY26 dividend of 0.00 cents and EPS of 0.00 cents.

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

SYR    SYRAH RESOURCES LIMITED

New Battery Elements – Overnight Price: $0.42

Jarden rates ((SYR)) as Upgrade to Overweight from Neutral (2) –

Jarden upgrades Syrah Resources to Overweight from Neutral and lifts its target price to 40c from 28c. These changes follow imposition of minimum 105% anti-dumping and countervailing duties on Chinese active anode material (AAM) imports into the US.

These durable trade measures, which also apply to AAM within imported battery components, should significantly enhance the competitiveness of Syrah’s US-based Vidalia facility, explains the broker.

The facility produces AAM at unit costs of circa US$5,000–6,000/t versus Chinese landed AAM now priced at over US$8,300/t.

With the duties immediately effective and final determination due by December 2025, Jarden expects the development to rapidly accelerate Vidalia’s commercial momentum. It’s also expected to eliminate Syrah’s pricing disadvantage versus Chinese supply.

The broker sees strategic value in Vidalia’s scalable 45ktpa capacity and latent supply potential from Balama. It’s anticipated North American battery manufacturers will shift procurement away from China in response to cost and geopolitical pressures.

This report was published on July 19, 2025.

Target price is $0.40 Current Price is $0.42 Difference: minus $0.02 (current price is over target).
If SYR meets the Jarden target it will return approximately minus 5% (excluding dividends, fees and charges – negative figures indicate an expected loss).
Current consensus price target is $0.33, suggesting downside of -19.7%(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 19.17 cents.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is minus 2.19.

How do these forecasts compare to market consensus projections?

Current consensus EPS estimate is -7.6, 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 3.87 cents.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is minus 10.86.

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.

This company reports in USD. 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

TLX    TELIX PHARMACEUTICALS LIMITED

Pharmaceuticals & Biotech/Lifesciences – Overnight Price: $21.32

Jarden rates ((TLX)) as Buy (1) –

Telix Pharmaceuticals’ 2Q25 update showed 1H25 group revenue of US$390m, which sits 4.1% above Jarden’s estimate, with Illuccix revenue for the period of US$305m in line with the broker’s expectations.

US Illuccix sales revenue was 5.2% better than anticipated and EU Illuccix sales proved below expectation. 

Management reconfirmed FY25 guidance for revenue of US$770–US$800m. R&D expenditure guidance of 20%–25% growth on a year earlier was also confirmed.

Jarden highlights the subpoena from the SEC seeking documents relating to the company’s disclosure around its prostate therapeutic candidates, which is likely to put the stock under quite some selling pressure due to the uncertainty around the investigation.

Buy rating and $29.14 target retained.

This report was published on July 22, 2025.

Target price is $29.14 Current Price is $21.32 Difference: $7.82
If TLX meets the Jarden target it will return approximately 37% (excluding dividends, fees and charges).

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

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