Daily Market Reports | Sep 29 2025
This story features AMPLITUDE ENERGY LIMITED, and other companies.
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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)
AEL (2) ASB BGL CMM CUV CYL EMR EVN GGP GMD IMM INR KCN MYR NST OBM OCA PNR TLX
AEL AMPLITUDE ENERGY LIMITED
Crude Oil – Overnight Price: $0.23
Canaccord Genuity rates ((AEL)) as Buy (1) –
Amplitude Energy has strengthened its balance sheet with a $150m raising to fund drilling of the Nestor gas prospect.
Nestor is a high-probability Otway Basin target, highlights Canaccord Genuity, close to infrastructure, capable of lifting East Coast Supply Project output by 20-30 TJ/d or extending plateau production by two years. The rig is secured and drilling is scheduled for 1H 2027.
The broker points out net spend of around -$160m in FY26 and -$260m in FY27 will lift net debt beyond $240m, but long-term gas demand and tightening supply underpin the strategy.
Canaccord retains a Buy rating and 34c target price.
This report was published on September 24, 2025.
Target price is $0.34 Current Price is $0.23 Difference: $0.105
If AEL meets the Canaccord Genuity target it will return approximately 45% (excluding dividends, fees and charges).
Current consensus price target is $0.31, suggesting upside of 33.7%(ex-dividends)
The company’s fiscal year ends in June.
Forecast for FY26:
Canaccord Genuity forecasts a full year FY26 dividend of 0.00 cents and EPS of 1.30 cents.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 18.08.How do these forecasts compare to market consensus projections?
Current consensus EPS estimate is 1.8, 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 12.8.
Forecast for FY27:
Canaccord Genuity forecasts a full year FY27 dividend of 0.00 cents and EPS of 1.60 cents.
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 2.0, implying annual growth of 11.1%.
Current consensus DPS estimate is N/A, implying a prospective dividend yield of N/A.
Current consensus EPS estimate suggests the PER is 11.5.
Market Sentiment: 0.8
All consensus data are updated until yesterday. FNArena’s consensus calculations require a minimum of three sources
Jarden rates ((AEL)) as Buy (1) –
Amplitude Energy is raising $150m to fund its share of drilling the Nestor gas prospect and to reduce debt, Jarden notes. The raising comprises a $50m placement and a $100m entitlement offer at 24c, a -9.2% discount to the theoretical ex-rights price (TERP).
The broker assesses Nestor is a low-risk Otway Basin exploration target with an 81% chance of success and proximity to existing pipelines.
The raising lowers net debt to $88m, cuts interest costs, and diversifies growth options while reducing reliance on Elanora and Isabella, explain the analysts.
Jarden trims its target to 28c from 29c and maintains a Buy rating.
This report was published on September 23, 2025.
Target price is $0.28 Current Price is $0.23 Difference: $0.045
If AEL meets the Jarden target it will return approximately 19% (excluding dividends, fees and charges).
Current consensus price target is $0.31, suggesting upside of 33.7%(ex-dividends)
The company’s fiscal year ends in June.
Forecast for FY26:
Jarden forecasts a full year FY26 dividend of 0.00 cents and EPS of 1.10 cents.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 21.36.How do these forecasts compare to market consensus projections?
Current consensus EPS estimate is 1.8, 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 12.8.
Forecast for FY27:
Jarden forecasts a full year FY27 dividend of 0.00 cents and EPS of 1.90 cents.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 12.37.How do these forecasts compare to market consensus projections?
Current consensus EPS estimate is 2.0, implying annual growth of 11.1%.
Current consensus DPS estimate is N/A, implying a prospective dividend yield of N/A.
Current consensus EPS estimate suggests the PER is 11.5.
Market Sentiment: 0.8
All consensus data are updated until yesterday. FNArena’s consensus calculations require a minimum of three sources
ASB AUSTAL LIMITED
Commercial Services & Supplies – Overnight Price: $7.25
Petra Capital rates ((ASB)) as Hold (3) –
Harking back to late-August, Petra Capital notes Austal delivered a stronger-than-expected FY25 result, with an underlying EBIT margin of 5.8% versus 3.9% in FY24.
The uplift was driven by operating leverage from higher revenue and productivity gains, well ahead of the broker’s 4.7% margin forecast.
The analyst expects revenues to rise over the next three years, supported by secured work in hand and tender conversions, with peak revenue in FY28 and peak EBIT margin in FY32 as multi-ship programs mature.
Petra Capital retains a Hold rating with a $7.07 target price, up from $6.67.
This report was published on September 25, 2025.
Target price is $7.07 Current Price is $7.25 Difference: minus $0.18 (current price is over target).
If ASB meets the Petra Capital target it will return approximately minus 2% (excluding dividends, fees and charges – negative figures indicate an expected loss).
Current consensus price target is $7.65, suggesting upside of 2.8%(ex-dividends)
The company’s fiscal year ends in June.
Forecast for FY26:
Petra Capital forecasts a full year FY26 dividend of 13.50 cents and EPS of 17.00 cents.
At the last closing share price the estimated dividend yield is 1.86%.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 42.65.How do these forecasts compare to market consensus projections?
Current consensus EPS estimate is 20.3, implying annual growth of -14.2%.
Current consensus DPS estimate is 1.3, implying a prospective dividend yield of 0.2%.
Current consensus EPS estimate suggests the PER is 36.7.
Forecast for FY27:
Petra Capital forecasts a full year FY27 dividend of 21.00 cents and EPS of 29.30 cents.
At the last closing share price the estimated dividend yield is 2.90%.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 24.74.How do these forecasts compare to market consensus projections?
Current consensus EPS estimate is 26.0, implying annual growth of 28.1%.
Current consensus DPS estimate is 3.0, implying a prospective dividend yield of 0.4%.
Current consensus EPS estimate suggests the PER is 28.6.
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: $1.07
Canaccord Genuity rates ((BGL)) as Speculative Buy (1) –
Canaccord Genuity has updated its long-term (from 2029) gold price forecast by 8.2% to US$4,173/oz, and the medium-term 2026/27/28 by 8.9%/8.5%/8.2%, respectively, in line with the forward curve.
For silver, the broker lifted the long-term price forecast by 14.5% to US$47.8/oz while long-term forex forecasts were left unchanged.
This has resulted in an average 13% rise in the broker’s target price for senior producers, 12% for intermediate/junior producers, and 12% for explorers/developers.
For the September quarter, the broker forecasts Bellevue Gold’s production to be -25% lower vs the June quarter and in line with the consensus. Cost forecast of $3,102/oz is -4% below consensus.
Speculatie Buy. Target rises to $1.75 from $1.65.
This report was published on September 26, 2025.
Target price is $1.75 Current Price is $1.07 Difference: $0.675
If BGL meets the Canaccord Genuity target it will return approximately 63% (excluding dividends, fees and charges).
Current consensus price target is $1.15, suggesting upside of 4.5%(ex-dividends)
The company’s fiscal year ends in June.
Forecast for FY26:
Canaccord Genuity forecasts a full year FY26 dividend of 0.00 cents and EPS of 9.00 cents.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 11.94.How do these forecasts compare to market consensus projections?
Current consensus EPS estimate is 10.8, 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 10.2.
Forecast for FY27:
Canaccord Genuity forecasts a full year FY27 dividend of 0.00 cents and EPS of 14.00 cents.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 7.68.How do these forecasts compare to market consensus projections?
Current consensus EPS estimate is 5.8, implying annual growth of -46.3%.
Current consensus DPS estimate is 2.0, implying a prospective dividend yield of 1.8%.
Current consensus EPS estimate suggests the PER is 19.0.
Market Sentiment: 0.5
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: $12.51
Canaccord Genuity rates ((CMM)) as Buy (1) –
Canaccord Genuity has updated its long-term (from 2029) gold price forecast by 8.2% to US$4,173/oz, and the medium-term 2026/27/28 by 8.9%/8.5%/8.2%, respectively, in line with the forward curve.
For silver, the broker lifted the long-term price forecast by 14.5% to US$47.8/oz while long-term forex forecasts were left unchanged.
This has resulted in an average 13% rise in the broker’s target price for senior producers, 12% for intermediate/junior producers, and 12% for explorers/developers.
Ahead of the September quarterly, the broker expects Capricorn Metals to report production -7% below the June quarter, with the forecast -1% lower than the consensus. Cost forecast of $1,631/oz is 3% higher than consensus.
Buy. Target rises to $13.55 from $12.15.
This report was published on September 26, 2025.
Target price is $13.55 Current Price is $12.51 Difference: $1.04
If CMM meets the Canaccord Genuity target it will return approximately 8% (excluding dividends, fees and charges).
Current consensus price target is $11.33, suggesting downside of -10.7%(ex-dividends)
The company’s fiscal year ends in June.
Forecast for FY26:
Canaccord Genuity forecasts a full year FY26 dividend of 0.00 cents and EPS of 58.00 cents.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 21.57.How do these forecasts compare to market consensus projections?
Current consensus EPS estimate is 56.8, implying annual growth of 53.2%.
Current consensus DPS estimate is N/A, implying a prospective dividend yield of N/A.
Current consensus EPS estimate suggests the PER is 22.3.
Forecast for FY27:
Canaccord Genuity forecasts a full year FY27 dividend of 0.00 cents and EPS of 106.00 cents.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 11.80.How do these forecasts compare to market consensus projections?
Current consensus EPS estimate is 79.2, implying annual growth of 39.4%.
Current consensus DPS estimate is 3.5, implying a prospective dividend yield of 0.3%.
Current consensus EPS estimate suggests the PER is 16.0.
Market Sentiment: 0.5
All consensus data are updated until yesterday. FNArena’s consensus calculations require a minimum of three sources
CUV CLINUVEL PHARMACEUTICALS LIMITED
Pharmaceuticals & Biotech/Lifesciences – Overnight Price: $11.30
Wilsons rates ((CUV)) as Overweight (1) –
Clinuvel Pharmaceuticals has gained European Medicines Agency approval to expand Scenesse dosing for erythropoietic protoporphyria to six implants per year, aligning practice with the US, notes Wilsons.
The decision is supported by long-term clinical and real-world safety data, which the broker regards as a key defensive asset for the franchise.
The commercial impact will be modest, expect the analysts, with potential for around 12% uplift to forecasts if utilisation matches US levels, though benefits are likely to take years as payer and prescribing habits evolve.
Wilsons makes no forecast changes and maintains an Overweight rating with a $32.84 target price.
This report was published on September 24, 2025.
Target price is $32.84 Current Price is $11.30 Difference: $21.54
If CUV meets the Wilsons target it will return approximately 191% (excluding dividends, fees and charges).
Current consensus price target is $18.53, suggesting upside of 59.9%(ex-dividends)
The company’s fiscal year ends in June.
Forecast for FY26:
Wilsons forecasts a full year FY26 dividend of 7.00 cents and EPS of 82.10 cents.
At the last closing share price the estimated dividend yield is 0.62%.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 13.76.How do these forecasts compare to market consensus projections?
Current consensus EPS estimate is 69.8, implying annual growth of -3.4%.
Current consensus DPS estimate is 5.5, implying a prospective dividend yield of 0.5%.
Current consensus EPS estimate suggests the PER is 16.6.
Forecast for FY27:
Wilsons forecasts a full year FY27 dividend of 17.60 cents and EPS of 92.60 cents.
At the last closing share price the estimated dividend yield is 1.56%.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 12.20.How do these forecasts compare to market consensus projections?
Current consensus EPS estimate is 69.5, implying annual growth of -0.4%.
Current consensus DPS estimate is 6.5, implying a prospective dividend yield of 0.6%.
Current consensus EPS estimate suggests the PER is 16.7.
Market Sentiment: 0.7
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: $7.92
Canaccord Genuity rates ((CYL)) as Buy (1) –
Canaccord Genuity has updated its long-term (from 2029) gold price forecast by 8.2% to US$4,173/oz, and the medium-term 2026/27/28 by 8.9%/8.5%/8.2%, respectively, in line with the forward curve.
For silver, the broker lifted the long-term price forecast by 14.5% to US$47.8/oz while long-term forex forecasts were left unchanged.
This has resulted in an average 13% rise in the broker’s target price for senior producers, 12% for intermediate/junior producers, and 12% for explorers/developers.
The broker expects Catalyst Metals to record -21% lower production in the September quarter vs the preceding quarter, with the estimate sitting -19% below the consensus. Cost forecast of $2,886 is -12% worse than the consensus.
Buy. Target rises to $11.80 from $10.45.
This report was published on September 26, 2025.
Target price is $11.80 Current Price is $7.92 Difference: $3.88
If CYL meets the Canaccord Genuity target it will return approximately 49% (excluding dividends, fees and charges).
The company’s fiscal year ends in June.
Forecast for FY26:
Canaccord Genuity forecasts a full year FY26 dividend of 0.00 cents and EPS of 69.00 cents.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 11.48.
Forecast for FY27:
Canaccord Genuity forecasts a full year FY27 dividend of 0.00 cents and EPS of 97.00 cents.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 8.16.
Market Sentiment: 0.5
All consensus data are updated until yesterday. FNArena’s consensus calculations require a minimum of three sources
EMR EMERALD RESOURCES NL
Gold & Silver – Overnight Price: $4.79
Canaccord Genuity rates ((EMR)) as Buy (1) –
Canaccord Genuity has updated its long-term (from 2029) gold price forecast by 8.2% to US$4,173/oz, and the medium-term 2026/27/28 by 8.9%/8.5%/8.2%, respectively, in line with the forward curve.
For silver, the broker lifted the long-term price forecast by 14.5% to US$47.8/oz while long-term forex forecasts were left unchanged.
This has resulted in an average 13% rise in the broker’s target price for senior producers, 12% for intermediate/junior producers, and 12% for explorers/developers.
Ahead of the September quarterly, the broker expects Emerald Resources to report production of 25koz, 33% higher than the preceding June quarter and 1% above the consensus. Cost forecast of US$1,116/oz is 5% above consensus.
Buy. Target rises to $6.00 from $5.50.
This report was published on September 26, 2025.
Target price is $6.00 Current Price is $4.79 Difference: $1.21
If EMR meets the Canaccord Genuity target it will return approximately 25% (excluding dividends, fees and charges).
The company’s fiscal year ends in June.
Forecast for FY26:
Canaccord Genuity forecasts a full year FY26 dividend of 0.00 cents and EPS of 36.00 cents.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 13.31.
Forecast for FY27:
Canaccord Genuity forecasts a full year FY27 dividend of 8.00 cents and EPS of 44.00 cents.
At the last closing share price the estimated dividend yield is 1.67%.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 10.89.
Market Sentiment: 0.0
All consensus data are updated until yesterday. FNArena’s consensus calculations require a minimum of three sources
EVN EVOLUTION MINING LIMITED
Gold & Silver – Overnight Price: $10.28
Canaccord Genuity rates ((EVN)) as Downgrade to Hold from Buy (3) –
Canaccord Genuity has updated its long-term (from 2029) gold price forecast by 8.2% to US$4,173/oz, and the medium-term 2026/27/28 by 8.9%/8.5%/8.2%, respectively, in line with the forward curve.
For silver, the broker lifted the long-term price forecast by 14.5% to US$47.8/oz while long-term forex forecasts were left unchanged.
This has resulted in an average 13% rise in the broker’s target price for senior producers, 12% for intermediate/junior producers, and 12% for explorers/developers.
Ahead of the September quarterly, the broker expects Evolution Mining’s production at 178koz, -3% below consensus. Cost forecast of $1,663/oz is -8% below consensus.
Rating downgraded to Hold from Buy. Target rises to $9.50 from $8.50.
This report was published on September 26, 2025.
Target price is $9.50 Current Price is $10.28 Difference: minus $0.78 (current price is over target).
If EVN meets the Canaccord Genuity target it will return approximately minus 8% (excluding dividends, fees and charges – negative figures indicate an expected loss).
Current consensus price target is $8.03, suggesting downside of -23.9%(ex-dividends)
Forecast for FY26:
Current consensus EPS estimate is 70.6, implying annual growth of 51.8%.
Current consensus DPS estimate is 32.0, implying a prospective dividend yield of 3.0%.
Current consensus EPS estimate suggests the PER is 14.9.
Forecast for FY27:
Current consensus EPS estimate is 53.8, implying annual growth of -23.8%.
Current consensus DPS estimate is 22.4, implying a prospective dividend yield of 2.1%.
Current consensus EPS estimate suggests the PER is 19.6.
Market Sentiment: -0.6
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: $7.13
Canaccord Genuity rates ((GGP)) as Buy (1) –
Canaccord Genuity has a Buy rating and $13.20 target price on Greatland Resources.
The has updated its long-term (from 2029) gold price forecast by 8.2% to US$4,173/oz, and the medium-term 2026/27/28 by 8.9%/8.5%/8.2%, respectively, in line with the forward curve.
For silver, the broker lifted the long-term price forecast by 14.5% to US$47.8/oz while long-term forex forecasts were left unchanged.
This has resulted in an average 13% rise in the broker’s target price for senior producers, 12% for intermediate/junior producers, and 12% for explorers/developers.
Ahead of the September quarterly, the broker expects Greatland Resources to report production of 67koz, -14% below the preceding June quarter and -11% below the consensus. Cost forecast of $2,681/oz is 12% above the consensus.
This report was published on September 26, 2025.
Target price is $13.20 Current Price is $7.13 Difference: $6.07
If GGP meets the Canaccord Genuity target it will return approximately 85% (excluding dividends, fees and charges).
Market Sentiment: 1.0
All consensus data are updated until yesterday. FNArena’s consensus calculations require a minimum of three sources
GMD GENESIS MINERALS LIMITED
Gold & Silver – Overnight Price: $5.64
Canaccord Genuity rates ((GMD)) as Buy (1) –
Canaccord Genuity has updated its long-term (from 2029) gold price forecast by 8.2% to US$4,173/oz, and the medium-term 2026/27/28 by 8.9%/8.5%/8.2%, respectively, in line with the forward curve.
For silver, the broker lifted the long-term price forecast by 14.5% to US$47.8/oz while long-term forex forecasts were left unchanged.
This has resulted in an average 13% rise in the broker’s target price for senior producers, 12% for intermediate/junior producers, and 12% for explorers/developers.
The broker expects Genesis Minerals to report 65koz production in the September quarter, 5% higher sequentially, but -2% below the consensus. Cost forecast of $2,621/oz is in line with the consensus.
Buy. Target rises to $6.15 from $5.55.
This report was published on September 26, 2025.
Target price is $6.15 Current Price is $5.64 Difference: $0.51
If GMD meets the Canaccord Genuity target it will return approximately 9% (excluding dividends, fees and charges).
Current consensus price target is $5.44, suggesting downside of -6.5%(ex-dividends)
The company’s fiscal year ends in June.
Forecast for FY26:
Canaccord Genuity forecasts a full year FY26 dividend of 0.00 cents and EPS of 36.00 cents.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 15.67.How do these forecasts compare to market consensus projections?
Current consensus EPS estimate is 37.4, implying annual growth of 84.5%.
Current consensus DPS estimate is N/A, implying a prospective dividend yield of N/A.
Current consensus EPS estimate suggests the PER is 15.6.
Forecast for FY27:
Canaccord Genuity forecasts a full year FY27 dividend of 0.00 cents and EPS of 44.00 cents.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 12.82.How do these forecasts compare to market consensus projections?
Current consensus EPS estimate is 36.5, implying annual growth of -2.4%.
Current consensus DPS estimate is 0.5, implying a prospective dividend yield of 0.1%.
Current consensus EPS estimate suggests the PER is 15.9.
Market Sentiment: 0.4
All consensus data are updated until yesterday. FNArena’s consensus calculations require a minimum of three sources
IMM IMMUTEP LIMITED
Pharmaceuticals & Biotech/Lifesciences – Overnight Price: $0.26
Wilsons rates ((IMM)) as Overweight (1) –
Immutep has announced a new investigator-initiated Phase II trial with George Washington University.
The aim is evaluating efti in combination with chemotherapy as a neoadjuvant (treatment before the main treatment, usually surgery) in HR+/HER2- breast cancer, explains Wilsons.
This subtype means the tumour is hormone receptor positive (HR+). It grows in response to hormones like oestrogen and/or progesterone, and HER2 negative (HER2-), meaning it does not overexpress the HER2 protein.
Efti’s immune priming could improve pathological complete response rates, observes the broker, potentially enabling more breast-conserving surgery and better survival outcomes.
Separately, Wilsons notes Merck has received approval for subcutaneous Keytruda (QLEX), a new formulation of its blockbuster drug, joining Roche and BMS in this space.
With faster administration times, Merck aims to shift around 30% of patients to QLEX, reinforcing the industry trend towards subcutaneous delivery, in line with efti’s mode of administration.
Wilsons makes no changes to forecasts and maintains an Overweight rating with a $1.20 target price.
This report was published on September 23, 2025.
Target price is $1.20 Current Price is $0.26 Difference: $0.945
If IMM meets the Wilsons target it will return approximately 371% (excluding dividends, fees and charges).
The company’s fiscal year ends in June.
Forecast for FY26:
Wilsons forecasts a full year FY26 dividend of 0.00 cents and EPS of minus 5.70 cents.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is minus 4.47.
Forecast for FY27:
Wilsons forecasts a full year FY27 dividend of 0.00 cents and EPS of minus 4.40 cents.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is minus 5.80.
Market Sentiment: 1.0
All consensus data are updated until yesterday. FNArena’s consensus calculations require a minimum of three sources
INR IONEER LIMITED
New Battery Elements – Overnight Price: $0.18
Canaccord Genuity rates ((INR)) as Speculative Buy (1) –
The Trump administration may take up to a 10% equity stake in Canadian/US-listed Lithium Americas.
The company owns 68% of the Thacker Pass lithium project in Nevada, with the remainder held by General Motors, which invested -US$625m for a 38% stake in December 2024.
Strategic government involvement would mirror investments in Intel and MP Materials, notes Canaccord Genuity, supporting national security priorities.
The broker sees ioneer’s Rhyolite Ridge as a strong beneficiary of similar policies, given its US$996m Department of Energy loan, full permitting, long mine life, and downstream production plans of 20ktpa lithium carbonate equivalent (LCE).
The analysts flag a -US$670m funding gap remains, which could be bridged by US Government participation and a strategic partner.
Canaccord retains a Speculative Buy rating and 40c target.
This report was published on September 24, 2025.
Target price is $0.40 Current Price is $0.18 Difference: $0.22
If INR meets the Canaccord Genuity target it will return approximately 122% (excluding dividends, fees and charges).
The company’s fiscal year ends in December.
Forecast for FY26:
Canaccord Genuity forecasts a full year FY26 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 14.49.
Forecast for FY27:
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
KCN KINGSGATE CONSOLIDATED LIMITED
Gold & Silver – Overnight Price: $3.74
Canaccord Genuity rates ((KCN)) as Buy (1) –
Canaccord Genuity has updated its long-term (from 2029) gold price forecast by 8.2% to US$4,173/oz, and the medium-term 2026/27/28 by 8.9%/8.5%/8.2%, respectively, in line with the forward curve.
For silver, the broker lifted the long-term price forecast by 14.5% to US$47.8/oz while long-term forex forecasts were left unchanged.
This has resulted in an average 13% rise in the broker’s target price for senior producers, 12% for intermediate/junior producers, and 12% for explorers/developers.
The broker expects Kingsgate Consolidated to report 23koz production in the September quarter, 21% higher sequentially. Cost forecast of US$2,061/oz is 53% higher vs the June quarter.
Buy. Target rises to $6.15 from $5.55.
This report was published on September 26, 2025.
Target price is $6.15 Current Price is $3.74 Difference: $2.41
If KCN 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 FY26:
Canaccord Genuity forecasts a full year FY26 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 12.06.
Forecast for FY27:
Canaccord Genuity forecasts a full year FY27 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 8.13.
All consensus data are updated until yesterday. FNArena’s consensus calculations require a minimum of three sources
MYR MYER HOLDINGS LIMITED
Household & Personal Products – Overnight Price: $0.47
Canaccord Genuity rates ((MYR)) as Buy (1) –
Myer’s FY25 result came in below Canaccord Genuity’s expectations due to cost-of-doing business (CODB) pressure and a -$213m goodwill impairment tied to the Apparel Brands acquisition.
Group sales were broadly flat at $3.3bn, with Myer Retail up 1% and Apparel Brands down -2%. Operating momentum improved in the September quarter, highlights the broker, with Myer Retail sales up 4% and Just Jeans strengthening, while online lifted 6.4% to $749m.
Gross margins held in Apparel Brands, notes the analyst, but were pressured at Myer Retail, while elevated CODB and distribution centre complications weighed on profit.
Early FY26 trading shows encouraging sales growth, but the broker’s FY26 and FY27 profit forecasts fall -20% and -19%, respectively, to reflect higher employee costs and slower synergy benefits.
Canaccord lowers its target price to 79c from $1.05 and retains a Buy rating.
This report was published on September 24, 2025.
Target price is $0.79 Current Price is $0.47 Difference: $0.325
If MYR meets the Canaccord Genuity target it will return approximately 70% (excluding dividends, fees and charges).
The company’s fiscal year ends in July.
Forecast for FY26:
Canaccord Genuity forecasts a full year FY26 dividend of 3.00 cents and EPS of 3.80 cents.
At the last closing share price the estimated dividend yield is 6.45%.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 12.24.
Forecast for FY27:
Canaccord Genuity forecasts a full year FY27 dividend of 3.00 cents and EPS of 4.90 cents.
At the last closing share price the estimated dividend yield is 6.45%.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 9.49.
Market Sentiment: 0.5
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: $22.74
Canaccord Genuity rates ((NST)) as Buy (1) –
Canaccord Genuity has updated its long-term (from 2029) gold price forecast by 8.2% to US$4,173/oz, and the medium-term 2026/27/28 by 8.9%/8.5%/8.2%, respectively, in line with the forward curve.
For silver, the broker lifted the long-term price forecast by 14.5% to US$47.8/oz while long-term forex forecasts were left unchanged.
This has resulted in an average 13% rise in the broker’s target price for senior producers, 12% for intermediate/junior producers, and 12% for explorers/developers.
Ahead of the September quarterly, the broker expects Northern Star Resources’ production to be -12% lower vs the June quarter and -1% below consensus. Cost forecast of $2,753/oz is 1% higher than consensus.
Buy. Target rises to $27.90 from $24.40.
This report was published on September 26, 2025.
Target price is $27.90 Current Price is $22.74 Difference: $5.16
If NST meets the Canaccord Genuity target it will return approximately 23% (excluding dividends, fees and charges).
Current consensus price target is $21.71, suggesting downside of -5.6%(ex-dividends)
The company’s fiscal year ends in June.
Forecast for FY26:
Canaccord Genuity forecasts a full year FY26 dividend of 36.00 cents and EPS of 128.00 cents.
At the last closing share price the estimated dividend yield is 1.58%.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 17.77.How do these forecasts compare to market consensus projections?
Current consensus EPS estimate is 120.5, implying annual growth of 7.0%.
Current consensus DPS estimate is 41.9, implying a prospective dividend yield of 1.8%.
Current consensus EPS estimate suggests the PER is 19.1.
Forecast for FY27:
Canaccord Genuity forecasts a full year FY27 dividend of 48.00 cents and EPS of 184.00 cents.
At the last closing share price the estimated dividend yield is 2.11%.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 12.36.How do these forecasts compare to market consensus projections?
Current consensus EPS estimate is 110.5, implying annual growth of -8.3%.
Current consensus DPS estimate is 39.5, implying a prospective dividend yield of 1.7%.
Current consensus EPS estimate suggests the PER is 20.8.
Market Sentiment: 0.5
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: $1.14
Canaccord Genuity rates ((OBM)) as Buy (1) –
Canaccord Genuity has updated its long-term (from 2029) gold price forecast by 8.2% to US$4,173/oz, and the medium-term 2026/27/28 by 8.9%/8.5%/8.2%, respectively, in line with the forward curve.
For silver, the broker lifted the long-term price forecast by 14.5% to US$47.8/oz while long-term forex forecasts were left unchanged.
This has resulted in an average 13% rise in the broker’s target price for senior producers, 12% for intermediate/junior producers, and 12% for explorers/developers.
The broker expects Ora Banda Mining to report 30koz production in the September quarter, 39% higher sequentially, but -14% below the consensus. Cost forecast of $2,958/oz is in line with the consensus.
Buy. Target rises to $1.30 from $1.20.
This report was published on September 26, 2025.
Target price is $1.30 Current Price is $1.14 Difference: $0.16
If OBM meets the Canaccord Genuity target it will return approximately 14% (excluding dividends, fees and charges).
The company’s fiscal year ends in June.
Forecast for FY26:
Canaccord Genuity forecasts a full year FY26 dividend of 0.00 cents and EPS of 13.00 cents.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 8.77.
Forecast for FY27:
Canaccord Genuity forecasts a full year FY27 dividend of 0.00 cents and EPS of 12.00 cents.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 9.50.
Market Sentiment: -0.3
All consensus data are updated until yesterday. FNArena’s consensus calculations require a minimum of three sources
OCA OCEANIA HEALTHCARE LIMITED
Aged Care & Seniors – Overnight Price: $0.55
Jarden rates ((OCA)) as Neutral (3) –
Management at Oceania Healthcare presented at the company’s investor day with Jarden noting confidence around intent and capability despite portfolio and capital structure constraints.
Oceania aims for an integrated care model across its portfolio by FY30, with divestments of between -4-6 sites planned and annual development delivery of 100-150 units in FY27-31.
Cost savings were at the top end of Jarden’s expectations, lifting care profitability to around $20k per bed in FY26 and $25k in FY27 from $13k in FY25.
The broker trims forecasts slightly and revises its target to NZ$0.72 from NZ$0.73 while retaining a Neutral rating.
This report was published on September 23, 2025.
Current Price is $0.55. Target price not assessed.
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 minus 5.50 cents.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is minus 10.00.
Forecast for FY27:
Jarden forecasts a full year FY27 dividend of 0.00 cents and EPS of minus 1.00 cents.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is minus 55.00.
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: $5.92
Canaccord Genuity rates ((PNR)) as Speculative Buy (1) –
Canaccord Genuity has updated its long-term (from 2029) gold price forecast by 8.2% to US$4,173/oz, and the medium-term 2026/27/28 by 8.9%/8.5%/8.2%, respectively, in line with the forward curve.
For silver, the broker lifted the long-term price forecast by 14.5% to US$47.8/oz while long-term forex forecasts were left unchanged.
This has resulted in an average 13% rise in the broker’s target price for senior producers, 12% for intermediate/junior producers, and 12% for explorers/developers.
The broker expects Pantoro Gold to report 26koz production in the September quarter, 4% higher sequentially, and in line with the consensus. Cost forecast of $2,223/oz is -1% lower than the consensus.
Speculative Buy. Target rises to $6.30 from $5.45.
This report was published on September 26, 2025.
Target price is $6.30 Current Price is $5.92 Difference: $0.38
If PNR meets the Canaccord Genuity target it will return approximately 6% (excluding dividends, fees and charges).
Current consensus price target is $4.89, suggesting downside of -20.8%(ex-dividends)
The company’s fiscal year ends in June.
Forecast for FY26:
Canaccord Genuity forecasts a full year FY26 dividend of 0.00 cents and EPS of 44.00 cents.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 13.45.How do these forecasts compare to market consensus projections?
Current consensus EPS estimate is 60.4, implying annual growth of 6842.5%.
Current consensus DPS estimate is N/A, implying a prospective dividend yield of N/A.
Current consensus EPS estimate suggests the PER is 10.2.
Forecast for FY27:
Current consensus EPS estimate is 57.4, implying annual growth of -5.0%.
Current consensus DPS estimate is N/A, implying a prospective dividend yield of N/A.
Current consensus EPS estimate suggests the PER is 10.8.
Market Sentiment: 0.3
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: $14.85
Jarden rates ((TLX)) as Buy (1) –
Telix Pharmaceuticals has received transitional pass-through (TPT) status for its second-generation prostate cancer diagnostic Gozellix, offsetting the loss of TPT for Illuccix from June 30, 2025, notes Jarden.
The analysts highlight the decision underpins Telix’s two-product strategy and secures reimbursement for 2-3 years. The recent share price retreat is seen as excessive.
No earnings revisions are made by the broker as TPT approval was assumed. Gozellix has a longer shelf life, enabling greater distribution, and is expected to ramp sales quickly.
Jarden maintains a Buy rating and $28.13 target price.
This report was published on September 23, 2025.
Target price is $28.13 Current Price is $14.85 Difference: $13.28
If TLX meets the Jarden target it will return approximately 89% (excluding dividends, fees and charges).
Current consensus price target is $28.40, suggesting upside of 88.7%(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 1.86 cents.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is minus 796.67.How do these forecasts compare to market consensus projections?
Current consensus EPS estimate is -2.4, 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 16.00 cents.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 92.84.How do these forecasts compare to market consensus projections?
Current consensus EPS estimate is 10.2, 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 147.5.
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
Disclaimer:
The content of this information does in no way reflect the opinions of FNArena, or of its journalists. In fact we don’t have any opinion about the stock market, its value, future direction or individual shares. FNArena solely reports about what the main experts in the market note, believe and comment on. By doing so we believe we provide experienced, intelligent investors with a valuable tool that helps them in making up their own minds, reading market trends and getting a feel for what is happening beneath the surface.
This document is provided for informational purposes only. It does not constitute an offer to sell or a solicitation to buy any security or other financial instrument. FNArena employs very experienced journalists who base their work on information believed to be reliable and accurate, though no guarantee is given that the daily report is accurate or complete. Investors should contact their personal adviser before making any investment decision.
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