Daily Market Reports | 11:00 AM
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
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The number next to the symbol represents the number of brokers covering it for this report -(if more than 1)
29M AAR ALK BRU GBZ GNC JIN MIN ORE PLL PNR PYC RSG RXR SFR SIG SYA
29M 29METALS LIMITED
Copper - Overnight Price: $0.47
Jarden rates ((29M)) as Underweight (4) -
Jarden notes 29Metals’ operational inconsistency persists, with production from Golden Grove in 1H25 reaching only 41% of copper and 45% of zinc FY25 guidance midpoints.
A seismic event in the current quarter means achieving even the lower end of FY25 guidance will be challenging. As a result, the broker's FY25 EBITDA forecast is -30% below consensus.
The broker notes headwinds from treatment and refining charges benefit copper exposure, but legacy punitive zinc contracts are constraining earnings.
Target unchanged at 30c. Rating retained at Underweight as the broker seeks greater operational consistency, de-watering progress, and positive free cash flow to become more constructive.
This report was published on September 8, 2025.
Target price is $0.30 Current Price is $0.47 Difference: minus $0.17 (current price is over target).
If 29M meets the Jarden target it will return approximately minus 36% (excluding dividends, fees and charges - negative figures indicate an expected loss).
Current consensus price target is $0.25, suggesting downside of -47.3%(ex-dividends)
The company's fiscal year ends in December.
Forecast for FY25:
Jarden forecasts a full year FY25 dividend of 0.00 cents and EPS of minus 3.30 cents.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is minus 14.24.How do these forecasts compare to market consensus projections?
Current consensus EPS estimate is 0.8, implying annual growth of N/A.
Current consensus DPS estimate is N/A, implying a prospective dividend yield of N/A.
Current consensus EPS estimate suggests the PER is 58.7.
Forecast for FY26:
Jarden forecasts a full year FY26 dividend of 0.00 cents and EPS of minus 1.60 cents.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is minus 29.37.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
AAR ASTRAL RESOURCES NL
Gold & Silver - Overnight Price: $0.19
Petra Capital rates ((AAR)) as Buy (1) -
Alongside the infill drilling program at its Mandilla gold project, Astral Resources is moving forward with exploration activities to achieve its definitive feasibility study by mid-2026, Petra Capital notes.
The analyst highlights the Maximus Resources acquisition added resources of 139koz as well as green and brownfield exploration potential.
The current mineral resource estimate for Spargoville global is 3Mt at 1.4g/t of Au for 139koz.
Buy rating and 35c target unchanged.
This report was published on September 9, 2025.
Target price is $0.35 Current Price is $0.19 Difference: $0.16
If AAR meets the Petra Capital target it will return approximately 84% (excluding dividends, fees and charges).
The company's fiscal year ends in June.
Forecast for FY25:
Petra Capital forecasts a full year FY25 dividend of 0.00 cents and EPS of minus 0.30 cents.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is minus 63.33.
Forecast for FY26:
Petra Capital forecasts a full year FY26 dividend of 0.00 cents and EPS of minus 0.40 cents.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is minus 47.50.
Market Sentiment: 1.0
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources
ALK ALKANE RESOURCES LIMITED
Gold & Silver - Overnight Price: $1.03
Moelis rates ((ALK)) as Downgrade to Hold from Buy (3) -
Alkane Resources' formal FY26 guidance following the merger completion with Mandalay Resources was a clear disappointment to Moelis.
The consolidated gold production guidance was lower than the broker's estimate at the midpoint, but the bigger negative was a miss to Tomingley's production forecast and higher costs.
Costs guidance for all three mines were higher than the broker's forecast, but the combination of lower production surprised negatively.
The broker cut FY26 net profit forecast by -38% and FY27 by -31%, with similar downgrades to EPS forecasts.
Target trimmed to $1.20 from $1.40. Rating downgraded to Hold from Buy.
This report was published on September 10, 2025.
Target price is $1.20 Current Price is $1.03 Difference: $0.17
If ALK meets the Moelis target it will return approximately 17% (excluding dividends, fees and charges).
The company's fiscal year ends in June.
Forecast for FY26:
Moelis forecasts a full year FY26 dividend of 0.00 cents and EPS of 11.60 cents.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 8.88.
Forecast for FY27:
Moelis forecasts a full year FY27 dividend of 0.00 cents and EPS of 11.40 cents.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 9.04.
Market Sentiment: 0.5
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources
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