Australian Broker Call *Extra* Edition – Oct 14, 2025

Array
(
    [0] => Array
        (
            [0] => ((AEE))
            [1] => ((BGL))
            [2] => ((BRE))
            [3] => ((RIO))
            [4] => ((CYL))
            [5] => ((KAI))
            [6] => ((PLS))
            [7] => ((KCN))
            [8] => ((KCN))
            [9] => ((KYP))
            [10] => ((LIC))
            [11] => ((MEI))
            [12] => ((NXG))
            [13] => ((OBM))
            [14] => ((PDN))
            [15] => ((PNR))
        )

    [1] => Array
        (
            [0] => AEE
            [1] => BGL
            [2] => BRE
            [3] => RIO
            [4] => CYL
            [5] => KAI
            [6] => PLS
            [7] => KCN
            [8] => KCN
            [9] => KYP
            [10] => LIC
            [11] => MEI
            [12] => NXG
            [13] => OBM
            [14] => PDN
            [15] => PNR
        )

)

This story features AURA ENERGY LIMITED, and other companies.
For more info SHARE ANALYSIS: AEE

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)

AEE   BGL   BRE   CYL   KAI   KCN (2)   KYP   LIC   MEI   NXG   OBM   PDN   PNR  

AEE    AURA ENERGY LIMITED

Energy – Overnight Price: $0.24

Petra Capital rates ((AEE)) as Buy (1) –

Petra Capital continues to be upbeat on the uranium outlook and sector, pointing to positive demand tailwinds and rising headwinds to supply, including a reduction in 2025 production guidance from Cameco and Kazatomprom lowering its production capability for 2026.

The World Nuclear Association (WNA) estimates known supply for U308 will be down by -7% in 2040, with a forecast lift in expected nuclear generating capacity by 60GW in 2040.

This equates to a NexGen Energy worth of U308 demand added in two years, the analyst states.

Aura Energy remains a preferred ASX exposure with a Buy rating and a 38c target price. Petra Capital believes the market doesn’t value the likely future expansion to Tiris or the potential regional upside with other Tiris-like projects to eventuate.

The report suggests Aura offers real “provincial scale” and Haggan, although a secondary asset, should benefit from a change in stance from Sweden.

This report was published on October 9, 2025.

Target price is $0.38 Current Price is $0.24 Difference: $0.14
If AEE meets the Petra Capital target it will return approximately 58% (excluding dividends, fees and charges).
The company’s fiscal year ends in June.

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: $1.24

Moelis rates ((BGL)) as Hold (3) –

Bellevue Gold has reported further high-grade drilling results from its namesake mine, Moelis notes, with intercepts including 3.2m at 137.8g/t gold, 4.9m at 24.9g/t, and 7.3m at 21.4g/t.

Management reaffirmed FY26 guidance for 130-150koz gold and plans new surface drilling east of the mine in the December quarter.

While Bellevue continues to demonstrate the quality of its orebody, the analyst suggests the key challenge is scaling production of higher-grade material.

Moelis believes stronger head grades are becoming more consistent as mining advances into thicker zones, with the December quarter a key test for sustained grade improvement.

It’s felt hedge management is the main near-term issue though Bellevue could clear its hedge book by end-2026, creating a debt-free, unhedged output.

Hold. Target $1.20.

This report was published on October 13, 2025.

Target price is $1.20 Current Price is $1.24 Difference: minus $0.04 (current price is over target).
If BGL meets the Moelis target it will return approximately minus 3% (excluding dividends, fees and charges – negative figures indicate an expected loss).
Current consensus price target is $1.38, suggesting upside of 10.9%(ex-dividends)
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 6.46 cents.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 19.20.

How do these forecasts compare to market consensus projections?

Current consensus EPS estimate is 12.3, 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 10.1.

Forecast for FY27:

Moelis forecasts a full year FY27 dividend of 0.00 cents and EPS of 12.17 cents.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 10.19.

How do these forecasts compare to market consensus projections?

Current consensus EPS estimate is 9.7, implying annual growth of -21.1%.
Current consensus DPS estimate is 2.0, implying a prospective dividend yield of 1.6%.
Current consensus EPS estimate suggests the PER is 12.8.

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

BRE    BRAZILIAN RARE EARTHS LIMITED

Rare Earth Minerals – Overnight Price: $5.00

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

Canaccord Genuity highlights Brazilian Rare Earths’ Amargosa bauxite project in Bahia as a large-scale development opportunity. Acquired from Rio Tinto ((RIO)) for -US$3.9m, the project covers 748sqkm.

A maiden Resource of 567.8mt at 29.8% total available alumina (TAA) has been defined, including 97.9mt of high-grade direct shipping ore (DSO) at 41.9% TAA, note the analysts, which compares favourably with existing DSO products.

The broker sees potential for a low-cost, near-term DSO operation of 5mtpa using existing infrastructure, estimating a post-tax internal rate of return (IRR) of 41% and a two-year payback.

Further upside exists from beneficiation, gallium by-products, and future rail access, highlights Canaccord. The Speculative Buy rating and  $5.65 target price are unchanged.

This report was published on October 8, 2025.

Target price is $5.65 Current Price is $5.00 Difference: $0.65
If BRE meets the Canaccord Genuity target it will return approximately 13% (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

CYL    CATALYST METALS LIMITED

Gold & Silver – Overnight Price: $7.64

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

Catalyst Metals reported 17.6koz production in the preliminary 1Q26 report, slightly below Canaccord Genuity’s forecast and well below consensus. Production was impacted by crushing circuit downtime and mill changeovers.

Cash and bullion stood at $227m, with total liquidity of $327m, no debt, and full exposure to spot gold. Cost details will be reported in the full quarterly later this month.

The broker notes mining development at Trident, K2, and Plutonic East progressed as planned, while exploration ramped up with 21 rigs on site. FY26 production guidance of 100-110koz at cost of $2,200-2,650/oz was reaffirmed.

The broker forecasts 2Q26 production of 26.8koz and free cash flow $22m ($33m at spot), with stronger output expected in 2H26.

Buy. Target unchanged at $11.80.

This report was published on October 8, 2025.

Target price is $11.80 Current Price is $7.64 Difference: $4.16
If CYL meets the Canaccord Genuity target it will return approximately 54% (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 11.07.

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 7.88.

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

KAI    KAIROS MINERALS LIMITED

Gold & Silver – Overnight Price: $0.04

Petra Capital rates ((KAI)) as Buy (1) –

Kairos Minerals has signed a Mineral Rights Agreement (MRA) with Pilbara Minerals ((PLS)) granting access to all mineral rights except lithium and tantalum across three tenements covering 367sqkm.

Petra Capital notes the deal allows Kairos to drill a 1.5km strike extension north-west of its Mt York Resource (1.4moz gold), with drilling to begin this month and finish by December.

The broker highlights the strong potential to grow the Resource, given previous Pilbara Minerals drilling intersected mineralisation. Around 50 holes for 10,000m are planned, with results to feed into a March 2026 Resource update targeting 2moz.

Petra Capital retains a Buy rating with an unchanged 9c target price.

This report was published on October 13, 2025.

Target price is $0.09 Current Price is $0.04 Difference: $0.05
If KAI meets the Petra Capital target it will return approximately 125% (excluding dividends, fees and charges).

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: $3.97

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

This report is updated to correct target price in original entry.

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 $5.50 from $4.95..

This report was published on September 26, 2025.

Target price is $5.50 Current Price is $3.97 Difference: $1.53
If KCN meets the Canaccord Genuity target it will return approximately 39% (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 12.81.

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 8.63.

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

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

In a preliminary 1Q26 report, Kingsgate Consolidated reported 23.9koz gold production, up 18% q/q, and 206koz silver, up 24% q/q. The outcome was in line with Canaccord Genuity’s forecasts.

Cash, bullion and dore rose to $115m (up 36% q/q), beating expectations by 40%, with implied free cash flow of $68m. The extent of cash beat surprised the broker, with better-than-expected cost performance seen as the reason for the upside.

No change to FY26 guidance of 85-95koz gold production and cost of US$1,550-1,750/oz.

The broker left its forecasts unchanged, preferring to wait for the full quarterly result later this month.

Buy. Target unchanged at $5.50.

This report was published on October 8, 2025.

Target price is $5.50 Current Price is $3.97 Difference: $1.53
If KCN meets the Canaccord Genuity target it will return approximately 39% (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 12.81.

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 8.63.

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

KYP    KINATICO LIMITED

Software & Services – Overnight Price: $0.35

Canaccord Genuity rates ((KYP)) as Initiation of coverage with Buy (1) –

Canaccord Genuity initiates coverage of Kinatico with a Buy rating and a 50c target price. The company is noted as a leading regulatory technology and SaaS provider, focusing on workforce compliance management and screening solutions in A&NZ.

The analyst likes the recent introduction of its all-in-one ComplianceX product over 2H25, which is offering an improved customer proposition for value creation, and sees rising SaaS revenue for the product to over 70% of revenue.

Notably, Kinatico has been able to create and bring to market its SaaS products while continuing to retain group profitability.

There is net cash of $10m on the balance sheet, and revenue is anticipated to grow at a CAGR of 15%-plus over the next three years.

This report was published on October 8, 2025.

Target price is $0.50 Current Price is $0.35 Difference: $0.15
If KYP meets the Canaccord Genuity target it will return approximately 43% (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 0.00 cents.

Forecast for FY27:

Canaccord Genuity forecasts a full year FY27 dividend of 0.00 cents and EPS of 0.00 cents.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 35000.00.

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

LIC    LIFESTYLE COMMUNITIES LIMITED

Aged Care & Seniors – Overnight Price: $5.62

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

Lifestyle Communities reported steady net new home sales of 50 in 1Q26, with strong forward indicators ahead of the spring sales period. This compared with 48 net new home sales in 4Q25, Canaccord Genuity notes.

Inventory of unsold completed homes fell -16% to 216, while development spend remains minimal. The broker highlights the new “Way to Live” brand platform has lifted appointment rates, supporting sales momentum.

Net debt reduced to $347.7m from $460.5 in FY25, and is ahead of December guidance of $345-355m, driven by accelerated land sale settlements.

No changes to forecasts. The VCAT deferred management fee appeal remains ongoing with $78m provision already booked.

Rating upgraded to Buy from Hold. Target rises to $6.50 from $6.00.

This report was published on October 8, 2025.

Target price is $6.50 Current Price is $5.62 Difference: $0.88
If LIC meets the Canaccord Genuity target it will return approximately 16% (excluding dividends, fees and charges).
Current consensus price target is $6.41, suggesting upside of 14.1%(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 28.00 cents.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 20.07.

How do these forecasts compare to market consensus projections?

Current consensus EPS estimate is 29.3, implying annual growth of N/A.
Current consensus DPS estimate is 1.0, implying a prospective dividend yield of 0.2%.
Current consensus EPS estimate suggests the PER is 19.2.

Forecast for FY27:

Canaccord Genuity forecasts a full year FY27 dividend of 0.00 cents and EPS of 32.00 cents.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 17.56.

How do these forecasts compare to market consensus projections?

Current consensus EPS estimate is 41.0, implying annual growth of 39.9%.
Current consensus DPS estimate is 4.8, implying a prospective dividend yield of 0.9%.
Current consensus EPS estimate suggests the PER is 13.7.

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

MEI    METEORIC RESOURCES NL

Gold & Silver – Overnight Price: $0.21

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

After a previous vote against its development plan, Meteoric Resources has received the buffer zone consent from The Council of Management of the Pedra Branca Conservation Area (CONGEAPA).

This is a key de-risking step for the Caldeira rare earths project, Canaccord Genuity highlights, paving the way for the Preliminary License, expected in 2025. This will be followed by further milestones: Construction Licence (mid-2026) and Operating Licence (2028).

Formal approval to build and operate a pilot plant for the project has been granted, with operations starting late October and the company is fully funded for this phase.

Speculative Buy. Target unchanged at 35c.

This report was published on October 8, 2025.

Target price is $0.35 Current Price is $0.21 Difference: $0.14
If MEI meets the Canaccord Genuity target it will return approximately 67% (excluding dividends, fees and charges).
Current consensus price target is $0.30, suggesting upside of 41.3%(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 minus 1.00 cents.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is minus 21.00.

How do these forecasts compare to market consensus projections?

Current consensus EPS estimate is -1.0, 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 FY27:

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 N/A.

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

NXG    NEXGEN ENERGY LIMITED

Uranium – Overnight Price: $13.41

Petra Capital rates ((NXG)) as Buy (1) –

Petra Capital continues to be upbeat on the uranium outlook and sector, pointing to positive demand tailwinds and rising headwinds to supply, including a reduction in 2025 production guidance from Cameco and Kazatomprom lowering its production capability for 2026.

The World Nuclear Association (WNA) estimates known supply for U308 will be down by -7% in 2040, with a forecast lift in expected nuclear generating capacity by 60GW in 2040.

This equates to a NexGen Energy worth of U308 demand added in two years, the analyst states.

NexGen remains a preferred ASX exposure with a Buy rating and $17.14 target price.

This report was published on October 9, 2025.

Target price is $17.14 Current Price is $13.41 Difference: $3.73
If NXG meets the Petra Capital target it will return approximately 28% (excluding dividends, fees and charges).

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

OBM    ORA BANDA MINING LIMITED

Gold & Silver – Overnight Price: $1.26

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

Canaccord Genuity notes Ora Banda Mining’s 1Q26 production of 30.6koz was up 39% q/q and in line with its forecast. Free cash flow was a record $38.5m, beating its $31m forecast, and lifting cash to $122.7m and total liquidity to $173m.

Production is expected to rise through FY26 as Sand King ramps up, with FY26 guidance reaffirmed at 140–155koz and cost of $2,800–2,900/oz. For 2Q26, the broker forecasts 35koz production and free cash flow of $50m.

The company remains unhedged, fully leveraged to record spot gold prices.

A feasibility study due in 3Q26 is evaluating expansion of the Davyhurst processing plant to 3Mtpa, offering cost and recovery upside.

Buy. Target unchanged at $1.30.

This report was published on October 8, 2025.

Target price is $1.30 Current Price is $1.26 Difference: $0.04
If OBM meets the Canaccord Genuity target it will return approximately 3% (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 9.69.

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 10.50.

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

PDN    PALADIN ENERGY LIMITED

Uranium – Overnight Price: $8.78

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

Canaccord Genuity reiterates its Buy rating on Paladin Energy while lowering its target price to $12.50 from $13.05.

The analyst believes Patterson Lake South will position Paladin as a major player in the industry, sustaining annual production of around 9.1mlbs and all-in-sustaining-costs of US$15.2/lb.

Langer Heinrich is in the final stages of the ramp-up, and Paladin has cash and cash equivalents of around US$302m, which are anticipated to support both Patterson Lake South and Langer Heinrich, which reported production of 727lbs for July-August.

As part of the broker’s U308 September quarter review, the analyst notes the spot price rose 5% to US$82/lb from US$78/lb, and the term price moved out of its 15-month trading range of US$79-US$81/lb to US$82/lb, the highest since May 2008.

This report was published on October 8, 2025.

Target price is $12.50 Current Price is $8.78 Difference: $3.72
If PDN meets the Canaccord Genuity target it will return approximately 42% (excluding dividends, fees and charges).
Current consensus price target is $9.17, 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 3.78 cents.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 232.34.

How do these forecasts compare to market consensus projections?

Current consensus EPS estimate is 12.5, 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 70.2.

Forecast for FY27:

Canaccord Genuity forecasts a full year FY27 dividend of 0.00 cents and EPS of 28.91 cents.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 30.37.

How do these forecasts compare to market consensus projections?

Current consensus EPS estimate is 60.5, implying annual growth of 384.0%.
Current consensus DPS estimate is 9.0, implying a prospective dividend yield of 1.0%.
Current consensus EPS estimate suggests the PER is 14.5.

This company reports in USD. All estimates have been converted into AUD by FNArena at present FX values.
Market Sentiment: 0.9
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: $6.19

Moelis rates ((PNR)) as Hold (3) –

Moelis is encoraged by Pantoro Gold’s underground drilling results from the Bullen Decline at its Norseman project, including intercepts of 0.68m at 137.2g/t gold and 1.37m at 15.7g/t.

These results come from outside historically mined areas, highlights the analyst, and confirm the high-grade tenor of mineralisation near the Bullen West stoping zone.

The broker sees ongoing exploration upside, with Pantoro holding a 6.2mt underground resource at 11.2g/t gold for 2.2moz. 

Moelis remains cautious ahead of the September quarter results following Pantoro’s 103% share price rally, suggesting any short-term weakness could present a buying opportunity.

Hold rating. Target $5.25.

This report was published on October 13, 2025.

Target price is $5.25 Current Price is $6.19 Difference: minus $0.94 (current price is over target).
If PNR meets the Moelis target it will return approximately minus 15% (excluding dividends, fees and charges – negative figures indicate an expected loss).
Current consensus price target is $5.99, suggesting downside of -3.3%(ex-dividends)
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 48.22 cents.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 12.84.

How do these forecasts compare to market consensus projections?

Current consensus EPS estimate is 65.8, implying annual growth of 7463.2%.
Current consensus DPS estimate is N/A, implying a prospective dividend yield of N/A.
Current consensus EPS estimate suggests the PER is 9.4.

Forecast for FY27:

Moelis forecasts a full year FY27 dividend of 0.00 cents and EPS of 36.98 cents.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 16.74.

How do these forecasts compare to market consensus projections?

Current consensus EPS estimate is 69.9, implying annual growth of 6.2%.
Current consensus DPS estimate is N/A, implying a prospective dividend yield of N/A.
Current consensus EPS estimate suggests the PER is 8.9.

Market Sentiment: -0.2
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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