Australian Broker Call *Extra* Edition – Jul 30, 2025

This story features ADRIATIC METALS PLC, and other companies.
For more info SHARE ANALYSIS: ADT

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)

ADT   BGL   BSL   CYL   DYL   FMG   GGP   HLO   LYC   MYX   NST   OBM   PRU   SEK   TLC   VAU (2)   VYS  

ADT    ADRIATIC METALS PLC

Gold & Silver – Overnight Price: $5.80

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

Adriatic’s mined ore in the March quarter fell short of Canaccord Genuity’s forecast and was caused by limited access to the tailings storage facility. This resulted in a miss to the broker’s AgEq production forecast.

Grades and recoveries were lower, and the broker believes higher spend on people vs mining is not an ideal situation. Cash at the end of the quarter was US$59m vs US$73m estimated by the broker.

FY25 production and mined ore guidance were lowered but the broker’s forecasts were already below or on the low end.

Hold. Target price $6.00.

This report was published on July 28, 2025.

Target price is $6.00 Current Price is $5.80 Difference: $0.2
If ADT meets the Canaccord Genuity target it will return approximately 3% (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 27.83 cents.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 20.84.

Forecast for FY26:

Canaccord Genuity forecasts a full year FY26 dividend of 0.00 cents and EPS of 68.04 cents.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 8.52.

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

BGL    BELLEVUE GOLD LIMITED

Gold & Silver – Overnight Price: $0.85

Moelis rates ((BGL)) as Hold (3) –

Bellevue Gold announced its June quarter report with gold production of 287kt, which was below Moelis’s forecast of 300kt. Cash and gold on hand came in at $152m, below the broker’s $177m estimate, with free cash flow of $67m also falling short of expectations at $81m.

The analysts can see the upside potential for the share price when compared to the valuation of $1.05 but remain cautious due to the lack of guidance for FY2 (likely to be provided at the August earnings report) creating significant uncertainty around the year ahead.

Moelis lowers its FY25 earnings (EBITDA) forecast by -7% due to slightly higher assumed capex.

No change to Hold rating. Target unchanged at $1.05.

This report was published on July 28, 2025.

Target price is $1.05 Current Price is $0.85 Difference: $0.2
If BGL meets the Moelis target it will return approximately 24% (excluding dividends, fees and charges).
Current consensus price target is $1.18, suggesting upside of 40.0%(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 2.30 cents.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 36.96.

How do these forecasts compare to market consensus projections?

Current consensus EPS estimate is 4.4, implying annual growth of -32.5%.
Current consensus DPS estimate is N/A, implying a prospective dividend yield of N/A.
Current consensus EPS estimate suggests the PER is 19.2.

Forecast for FY26:

Moelis forecasts a full year FY26 dividend of 0.00 cents and EPS of 11.10 cents.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 7.66.

How do these forecasts compare to market consensus projections?

Current consensus EPS estimate is 10.7, implying annual growth of 143.2%.
Current consensus DPS estimate is N/A, implying a prospective dividend yield of N/A.
Current consensus EPS estimate suggests the PER is 7.9.

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

BSL    BLUESCOPE STEEL LIMITED

Steel & Scrap – Overnight Price: $24.36

Jarden rates ((BSL)) as Downgrade to Neutral from Overweight (3) –

Jarden downgrades BlueScope Steel to Neutral from Overweight due to the share price outperformance and risk to FY26 earnings.

The analyst anticipates BlueScope will achieve slightly better 2H25 earnings before interest and tax, with US spreads at US$405/t against guidance of US$340/t, but upside risks could be constrained by economic uncertainty affecting demand and tariff impacts.

The company retains a strong balance sheet with estimated net cash of $56m and net debt targets of $400m–$800m.

Target price slips to $25 from $25.30.

This report was published on July 28, 2025.

Target price is $25.00 Current Price is $24.36 Difference: $0.64
If BSL meets the Jarden target it will return approximately 3% (excluding dividends, fees and charges).
Current consensus price target is $27.04, suggesting upside of 11.0%(ex-dividends)
The company’s fiscal year ends in June.

Forecast for FY25:

Jarden forecasts a full year FY25 dividend of 60.00 cents and EPS of 105.70 cents.
At the last closing share price the estimated dividend yield is 2.46%.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 23.05.

How do these forecasts compare to market consensus projections?

Current consensus EPS estimate is 101.8, implying annual growth of -43.4%.
Current consensus DPS estimate is 60.0, implying a prospective dividend yield of 2.5%.
Current consensus EPS estimate suggests the PER is 23.9.

Forecast for FY26:

Jarden forecasts a full year FY26 dividend of 60.00 cents and EPS of 171.20 cents.
At the last closing share price the estimated dividend yield is 2.46%.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 14.23.

How do these forecasts compare to market consensus projections?

Current consensus EPS estimate is 211.1, implying annual growth of 107.4%.
Current consensus DPS estimate is 60.0, implying a prospective dividend yield of 2.5%.
Current consensus EPS estimate suggests the PER is 11.5.

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

CYL    CATALYST METALS LIMITED

Gold & Silver – Overnight Price: $4.81

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

Catalyst Metals’ June quarter group production and cost met Canaccord Genuity’s forecasts. FY25 production of 108koz at cost of $2,495/oz was in line with guidance, and a slight beat vs the broker’s forecasts.

The company maintained three-year FY25-27 production guidance ranges, and expects cost to decline to $2,100/oz from $2,400/oz.

Buy. Target price $7.90.

This report was published on July 24, 2025.

Target price is $7.90 Current Price is $4.81 Difference: $3.09
If CYL meets the Canaccord Genuity target it will return approximately 64% (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 31.00 cents.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 15.52.

Forecast for FY26:

Canaccord Genuity forecasts a full year FY26 dividend of 0.00 cents and EPS of 86.00 cents.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 5.59.

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: $1.56

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

Canaccord Genuity observes Deep Yellow is taking measured steps towards the development of its two flagship project as it waits for higher U308 prices to support the final investment decision.

The broker made adjustments to the Mulga Rock modelling, resulting in a -8% to -10% reduction in operating cost.

Speculative Buy. Target lifts to $1.98 from $1.61 on the revised modelling and valuation roll-forward by six months.

This report was published on July 25, 2025.

Target price is $1.98 Current Price is $1.56 Difference: $0.42
If DYL meets the Canaccord Genuity target it will return approximately 27% (excluding dividends, fees and charges).
Current consensus price target is $1.94, suggesting upside of 24.4%(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 126.11.

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 91.71.

How do these forecasts compare to market consensus projections?

Current consensus EPS estimate is -3.9, 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.

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

FMG    FORTESCUE LIMITED

Iron Ore – Overnight Price: $18.08

Jarden rates ((FMG)) as Neutral (3) –

The highlight of Fortescue’s June quarterly, Jarden observes, was record FY25 shipments at the upper end of guidance and first cost decline in five years. Another impressive element was FY26 guidance for flat y/y cost, reflecting focus on operational efficiencies.

Cash balance at the end of June was well higher than expectations, and the broker expects elevated iron ore price to support continued cash generation. The company announced Arizona Hydrogen and Gladstone project won’t proceed, helping savings on capex.

Neutral. Target price $16.25.

This report was published on July 26, 2025.

Target price is $16.25 Current Price is $18.08 Difference: minus $1.83 (current price is over target).
If FMG meets the Jarden target it will return approximately minus 10% (excluding dividends, fees and charges – negative figures indicate an expected loss).
Current consensus price target is $17.90, 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 114.00 cents and EPS of 175.66 cents.
At the last closing share price the estimated dividend yield is 6.31%.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 10.29.

How do these forecasts compare to market consensus projections?

Current consensus EPS estimate is 169.6, implying annual growth of N/A.
Current consensus DPS estimate is 105.0, implying a prospective dividend yield of 5.8%.
Current consensus EPS estimate suggests the PER is 10.7.

Forecast for FY26:

Jarden forecasts a full year FY26 dividend of 85.00 cents and EPS of 144.43 cents.
At the last closing share price the estimated dividend yield is 4.70%.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 12.52.

How do these forecasts compare to market consensus projections?

Current consensus EPS estimate is 142.2, implying annual growth of -16.2%.
Current consensus DPS estimate is 102.0, implying a prospective dividend yield of 5.6%.
Current consensus EPS estimate suggests the PER is 12.7.

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

GGP    GREATLAND RESOURCES LIMITED

Gold & Silver – Overnight Price: $5.24

Moelis rates ((GGP)) as Hold (3) –

Moelis’ first take on Greatland Resources’ 4Q25 report noted copper production was slightly below forecast at 78.3koz, with all-in sustaining costs substantially lower than anticipated at $1,736/oz versus the broker’s forecast of $2,507/oz.

Gold sales of 87.5koz at a realised price of $5,014 broadly met expectations, and cash on hand ended the period at $575m.

Greatland’s FY26 guidance stands at 260–310koz and all-in sustaining costs of $2,400–$2,800, compared to Moelis’ forecasts of 312.6koz and $2,517. This suggests softer guidance but still within an acceptable range, the analyst states.

Hold. Target unchanged at $7.50.

This report was published on July 29, 2025.

Target price is $7.50 Current Price is $5.24 Difference: $2.26
If GGP meets the Moelis target it will return approximately 43% (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 0.46 cents.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 1139.13.

Forecast for FY26:

Moelis forecasts a full year FY26 dividend of 0.00 cents and EPS of 0.86 cents.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 609.30.

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

HLO    HELLOWORLD TRAVEL LIMITED

Travel, Leisure & Tourism – Overnight Price: $1.66

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

Helloworld Travel management has upgraded FY25 earnings (EBITDA) guidance to $58m–$62m from $52m–$56m previously, due to a $5.2m gain, Jarden explains, from its shareholding in Webjet Group ((WJL)) versus the upgrade at the midpoint of $6m.

Commentary highlights the update included no comment on the possible intent of Helloworld’s 15.02% stake, although the press has speculated about a possible merger.

Jarden lifts its FY25 earnings estimate by 15% to reflect the gain. With total travel volumes (TTV) weaker on softer demand, the analyst lowers its TTV forecasts by around -2.5%, in part reflecting a stronger previous period, airfare deflation, and a decline in longer-haul bookings.

Improvement in productivity efficiencies has led to a rise in the analyst’s forecast earnings (EBITDA) margin to circa 25%.

No change to Overweight rating. Target lifts to $2.80 from $2.61.

This report was published on July 28, 2025.

Target price is $2.80 Current Price is $1.66 Difference: $1.14
If HLO meets the Jarden target it will return approximately 69% (excluding dividends, fees and charges).
Current consensus price target is $2.04, suggesting upside of 23.3%(ex-dividends)
The company’s fiscal year ends in June.

Forecast for FY25:

Jarden forecasts a full year FY25 EPS of 18.30 cents.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 9.07.

How do these forecasts compare to market consensus projections?

Current consensus EPS estimate is 15.8, implying annual growth of -17.6%.
Current consensus DPS estimate is 13.0, implying a prospective dividend yield of 7.9%.
Current consensus EPS estimate suggests the PER is 10.5.

Forecast for FY26:

Jarden forecasts a full year FY26 EPS of 16.40 cents.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 10.12.

How do these forecasts compare to market consensus projections?

Current consensus EPS estimate is 16.5, implying annual growth of 4.4%.
Current consensus DPS estimate is 10.2, implying a prospective dividend yield of 6.2%.
Current consensus EPS estimate suggests the PER is 10.0.

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

LYC    LYNAS RARE EARTHS LIMITED

Rare Earth Minerals – Overnight Price: $10.81

Canaccord Genuity rates ((LYC)) as Downgrade to Hold from Buy (3) –

Canaccord Genuity notes Lynas Rare Earths’ June quarter production beat its forecast and average pricing for REO sales was 13% higher than its forecast and up 20% q/q. 

Cash cost, however, was higher than expected due to spillover from March and as Kalgoorlie is no longer capitalised, resulting in lower-than-expected closing cash balance.

The broker is more focused on FY26 where it expects significantly higher volumes and pricing. Target lifted to $9.65 from $8.80. Rating downgraded to Hold from Buy on valuation.

This report was published on July 25, 2025.

Target price is $9.65 Current Price is $10.81 Difference: minus $1.16 (current price is over target).
If LYC meets the Canaccord Genuity target it will return approximately minus 11% (excluding dividends, fees and charges – negative figures indicate an expected loss).
Current consensus price target is $8.86, suggesting downside of -18.1%(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 0.00 cents.

How do these forecasts compare to market consensus projections?

Current consensus EPS estimate is 3.7, implying annual growth of -59.1%.
Current consensus DPS estimate is N/A, implying a prospective dividend yield of N/A.
Current consensus EPS estimate suggests the PER is 292.2.

Forecast for FY26:

Canaccord Genuity forecasts a full year FY26 dividend of 0.00 cents and EPS of 18.00 cents.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 60.06.

How do these forecasts compare to market consensus projections?

Current consensus EPS estimate is 29.8, implying annual growth of 705.4%.
Current consensus DPS estimate is 1.7, implying a prospective dividend yield of 0.2%.
Current consensus EPS estimate suggests the PER is 36.3.

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

MYX    MAYNE PHARMA GROUP LIMITED

Pharmaceuticals & Biotech/Lifesciences – Overnight Price: $5.02

Canaccord Genuity rates ((MYX)) as Upgrade to Buy from Hold (1) –

Canaccord Genuity has had another look at forecasts for Mayne Pharma following an end to the Bloomberg script data hiatus and after considering management guidance.

The outcome is a -14% cut to FY25 dermatology revenue forecast and a -25% cut to FY26. Total revenue forecasts for FY25-26 was lowered by -7% and -10%, respectively.

The main question is what happens to the share price if the Cosette transaction falls over and the company’s readiness to accept any lower offer. The broker reckons the share price will trade very weak if the deal doesn’t proceed.

Target cut to $6.10 from $7.40. Rating upgraded to Buy from Hold.

This report was published on July 28, 2025.

Target price is $6.10 Current Price is $5.02 Difference: $1.08
If MYX meets the Canaccord Genuity target it will return approximately 22% (excluding dividends, fees and charges).

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

NST    NORTHERN STAR RESOURCES LIMITED

Gold & Silver – Overnight Price: $15.92

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

Northern Star Resources’ June quarter group sales were up 15% q/q and in line with Canaccord Genuity’s forecast while group cost was slightly higher than the broker’s estimate. The company also achieved revised FY25 sales and cost guidance.

Growth capex came at the top end of guidance and exploration spend also exceeded guidance. The FY26 sales guidance was in line with the broker’s forecast but cost guidance was 26% higher and growth capex was 47% higher.

Buy. Target price $24.10.

This report was published on July 25, 2025.

Target price is $24.10 Current Price is $15.92 Difference: $8.18
If NST meets the Canaccord Genuity target it will return approximately 51% (excluding dividends, fees and charges).
Current consensus price target is $19.99, suggesting upside of 25.6%(ex-dividends)
The company’s fiscal year ends in June.

Forecast for FY25:

Canaccord Genuity forecasts a full year FY25 dividend of 55.00 cents and EPS of 109.00 cents.
At the last closing share price the estimated dividend yield is 3.45%.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 14.61.

How do these forecasts compare to market consensus projections?

Current consensus EPS estimate is 107.1, implying annual growth of 92.6%.
Current consensus DPS estimate is 50.5, implying a prospective dividend yield of 3.2%.
Current consensus EPS estimate suggests the PER is 14.9.

Forecast for FY26:

Canaccord Genuity forecasts a full year FY26 dividend of 36.00 cents and EPS of 155.00 cents.
At the last closing share price the estimated dividend yield is 2.26%.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 10.27.

How do these forecasts compare to market consensus projections?

Current consensus EPS estimate is 123.7, implying annual growth of 15.5%.
Current consensus DPS estimate is 41.0, implying a prospective dividend yield of 2.6%.
Current consensus EPS estimate suggests the PER is 12.9.

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

OBM    ORA BANDA MINING LIMITED

Gold & Silver – Overnight Price: $0.69

Moelis rates ((OBM)) as Buy (1) –

Moelis’ first take on Ora Banda Mining’s June quarter result is that it was a softer report, but the miner had pre-released the metrics for the period and FY26 guidance, which resulted in a “material” downgrade.

Final 4Q25 production came in at 21.9koz of gold, with 1.4koz produced via third-party treatment. All-in sustaining costs were $3,583/oz, higher than the forecast of $3,271/oz, while cash was broadly in line with expectations.

Moelis reiterates its Buy rating and sees the investment case as “fully cleansed” following the quarterly report and guidance update. Target 85c.

This report was published on July 29, 2025.

Target price is $0.85 Current Price is $0.69 Difference: $0.16
If OBM meets the Moelis target it will return approximately 23% (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 5.10 cents.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 13.53.

Forecast for FY26:

Moelis forecasts a full year FY26 dividend of 0.00 cents and EPS of 8.90 cents.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 7.75.

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

PRU    PERSEUS MINING LIMITED

Gold & Silver – Overnight Price: $3.41

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

Perseus Mining’s June quarter gold production and cost beat Canaccord Genuity’s forecasts due to higher throughput and head grades at the Yaoure mine and lower mining costs at Edikan.

Cash plus bullion rose to US$872m and the company has no debt. The broker believes the balance sheet strength makes a strong case for enhanced capital management initiatives like special dividend or additional share buyback.

FY26 guidance was broadly in line with the broker’s forecasts, while capex of -US$450m was higher than -US$400m forecast.

Buy. Target unchanged at $5.80.

This report was published on July 28, 2025.

Target price is $5.80 Current Price is $3.41 Difference: $2.39
If PRU meets the Canaccord Genuity target it will return approximately 70% (excluding dividends, fees and charges).
Current consensus price target is $3.96, suggesting upside of 16.2%(ex-dividends)
The company’s fiscal year ends in June.

Forecast for FY25:

Canaccord Genuity forecasts a full year FY25 dividend of 7.73 cents and EPS of 46.39 cents.
At the last closing share price the estimated dividend yield is 2.27%.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 7.35.

How do these forecasts compare to market consensus projections?

Current consensus EPS estimate is 44.2, implying annual growth of N/A.
Current consensus DPS estimate is 9.5, implying a prospective dividend yield of 2.8%.
Current consensus EPS estimate suggests the PER is 7.7.

Forecast for FY26:

Canaccord Genuity forecasts a full year FY26 dividend of 6.19 cents and EPS of 49.48 cents.
At the last closing share price the estimated dividend yield is 1.81%.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 6.89.

How do these forecasts compare to market consensus projections?

Current consensus EPS estimate is 33.9, implying annual growth of -23.3%.
Current consensus DPS estimate is 9.7, implying a prospective dividend yield of 2.8%.
Current consensus EPS estimate suggests the PER is 10.1.

This company reports in USD. All estimates have been converted into AUD by FNArena at present FX values.
Market Sentiment: 0.6
All consensus data are updated until yesterday. FNArena’s consensus calculations require a minimum of three sources

SEK    SEEK LIMITED

Jobs & Skilled Labour Services – Overnight Price: $24.14

Jarden rates ((SEK)) as Buy (1) –

Ahead of Seek’s FY25 result on August 19, Jarden is more focused on FY26 where it believes expectations for the Asia business may be too high.

For FY25, the broker’s forecast for revenue is on the low end of guidance but matches consensus, while EBITDA and net profit estimates are marginally higher than consensus.

The broker believes the consensus has not factored in the freemium model for major Asian markets like Singapore and Hong Kong. Its forecast is for a -38% y/y decline in FY26 EBITDA vs consensus for 8% increase.

As a result, the forecast for FY26 EBITDA for the company  is -4% below consensus.

Buy. Target unchanged at $29.

This report was published on July 25, 2025.

Target price is $29.00 Current Price is $24.14 Difference: $4.86
If SEK meets the Jarden target it will return approximately 20% (excluding dividends, fees and charges).
Current consensus price target is $28.31, suggesting upside of 17.3%(ex-dividends)
The company’s fiscal year ends in June.

Forecast for FY25:

Jarden forecasts a full year FY25 dividend of 41.90 cents and EPS of 44.10 cents.
At the last closing share price the estimated dividend yield is 1.74%.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 54.74.

How do these forecasts compare to market consensus projections?

Current consensus EPS estimate is 42.1, implying annual growth of N/A.
Current consensus DPS estimate is 36.1, implying a prospective dividend yield of 1.5%.
Current consensus EPS estimate suggests the PER is 57.3.

Forecast for FY26:

Jarden forecasts a full year FY26 dividend of 43.60 cents and EPS of 54.40 cents.
At the last closing share price the estimated dividend yield is 1.81%.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 44.38.

How do these forecasts compare to market consensus projections?

Current consensus EPS estimate is 60.1, implying annual growth of 42.8%.
Current consensus DPS estimate is 44.6, implying a prospective dividend yield of 1.8%.
Current consensus EPS estimate suggests the PER is 40.2.

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

TLC    LOTTERY CORPORATION LIMITED

Gaming – Overnight Price: $5.36

Jarden rates ((TLC)) as Downgrade to Neutral from Overweight (3) –

Jarden downgrades Lottery Corp to Neutral from Overweight, with a lower target price of $5.30 from $5.35, due to the stock’s recent outperformance.

The company has appointed a new CEO, Wayne Pickup, who will replace Ms van der Merwe. He brings significant experience in the industry, having served as CEO of Allwyn’s North America business and CEO of Lotto NZ, the analyst details.

Lottery Corp is due to report FY25 earnings on August 20, with aggregate jackpot levels having improved from the soft, below-trend period in 1H25.

Jarden believes consensus earnings downgrades have mitigated much of the risk to the FY25 earnings announcement.

This report was published on July 28, 2025.

Target price is $5.30 Current Price is $5.36 Difference: minus $0.06 (current price is over target).
If TLC 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 $5.51, suggesting upside of 2.8%(ex-dividends)
The company’s fiscal year ends in June.

Forecast for FY25:

Jarden forecasts a full year FY25 dividend of 16.50 cents and EPS of 16.10 cents.
At the last closing share price the estimated dividend yield is 3.08%.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 33.29.

How do these forecasts compare to market consensus projections?

Current consensus EPS estimate is 16.3, implying annual growth of -12.4%.
Current consensus DPS estimate is 16.5, implying a prospective dividend yield of 3.1%.
Current consensus EPS estimate suggests the PER is 32.9.

Forecast for FY26:

Jarden forecasts a full year FY26 dividend of 19.50 cents and EPS of 19.20 cents.
At the last closing share price the estimated dividend yield is 3.64%.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 27.92.

How do these forecasts compare to market consensus projections?

Current consensus EPS estimate is 18.5, implying annual growth of 13.5%.
Current consensus DPS estimate is 18.8, implying a prospective dividend yield of 3.5%.
Current consensus EPS estimate suggests the PER is 29.0.

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

VAU    VAULT MINERALS LIMITED

Gold & Silver – Overnight Price: $0.38

Jarden rates ((VAU)) as Buy (1) –

Vault Minerals’ June quarter update revealed group production is likely to fall in FY26 due to Deflector, Jarden highlights, with the group production estimate lowered to 356koz from 365koz, which sits around -5% below consensus and represents a fall of around -7% on FY25.

Management is also changing to an owner-operator model, which could have capex implications, the broker states. Stockpiles are anticipated to grow with a delay of some six months at the Sugar Zone, with first production expected in 1H28.

Jarden lowers its earnings (EBITDA) estimates by -13% for FY26 and -17% for FY27 while retaining a Buy rating.

Target cut to 50c from 55c.

This report was published on July 28, 2025.

Target price is $0.50 Current Price is $0.38 Difference: $0.12
If VAU meets the Jarden target it will return approximately 32% (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 4.70 cents.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 8.09.

Forecast for FY26:

Jarden forecasts a full year FY26 dividend of 0.00 cents and EPS of 4.40 cents.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 8.64.

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 ((VAU)) as Buy (1) –

Vault Minerals reported lower-than-expected June quarter production of 98.5koz, compared to Moelis’ forecast of 104.7koz, with sales of 96koz at an average price of $4,419/oz, versus the analyst’s estimate of 104.7koz at $4,438/oz.

Cash and bullion finished FY25 at $685.9m, below Moelis’ $719.3m estimate. FY26 guidance is anticipated to be announced with the September quarter.

Buy. Target slips to 73c from 75c. Moelis remains positive on Vault’s outlook despite a slight miss for the quarter, citing ongoing valuation support, and notes the stock has lagged peers over the last three to six months. Cash flow is expected to improve as the hedge book rolls off.

This report was published on July 29, 2025.

Target price is $0.73 Current Price is $0.38 Difference: $0.35
If VAU meets the Moelis target it will return approximately 92% (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 3.10 cents.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 12.26.

Forecast for FY26:

Moelis forecasts a full year FY26 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 7.60.

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

VYS    VYSARN LIMITED

Industrial Sector Contractors & Engineers – Overnight Price: $0.51

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

Wilsons continues to view sustainable water management as an “attractive” thematic, with Vysarn a leading supplier of water services against a backdrop of growing demand for solutions.

The company reported a FY25 trading update with profit before tax of $15m, compared to the analyst’s forecast of $14.8m, and revenue higher than estimated at $108.5m versus Wilsons’ $97.9m forecast.

Industrial activity was reported as robust, with a strong technology order book, Vysarn detailed, and the advisory division receiving its first scope of works with Sydney Water. FY26 profit before tax guidance was announced at $19.6m.

Overweight rating retained.

This report was published on July 28, 2025.

Target price is $0.65 Current Price is $0.51 Difference: $0.14
If VYS meets the Wilsons target it will return approximately 27% (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 2.20 cents.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 23.18.

Forecast for FY26:

Wilsons forecasts a full year FY26 dividend of 0.00 cents and EPS of 2.80 cents.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 18.21.

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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