Daily Market Reports | 10:30 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
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)
A2M ACW ALQ BSL BWN CMA FFM HLO JHX KMD LIC MEI PLT (2) SHL SKO TLC TNE TPG VAU WA1 WJL
VAU VAULT MINERALS LIMITED
Gold & Silver - Overnight Price: $0.78
Moelis rates ((VAU)) as Buy (1) -
Vault Minerals is viewed by Moelis as inexpensive relative to peers, with the broker expecting unhedged production from 2026 to lift realised prices and strengthen free cash flow.
At the recent AGM, shareholders voted in favour of a 13 for 2 share consolidation program, which the broker incorporates into forecasts, resulting in a target price of $6.10, up from 93c. Buy rating retained.
The broker considers near-term appeal limited while hedge run-off, expansion spending at King of the Hills, and modest cash build continue.
Moelis also sees scope for a more active buyback once the September quarter results and AGM have cleared blackout constraints.
This report was published on November 20, 2025.
Target price is $6.10 Current Price is $0.78 Difference: $5.325
If VAU meets the Moelis target it will return approximately 687% (excluding dividends, fees and charges).
Current consensus price target is $0.95, suggesting upside of 25.8%(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 15.80 cents.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 4.91.How do these forecasts compare to market consensus projections?
Current consensus EPS estimate is 5.9, implying annual growth of -74.0%.
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:
Moelis forecasts a full year FY27 dividend of 0.00 cents and EPS of 54.00 cents.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 1.44.How do these forecasts compare to market consensus projections?
Current consensus EPS estimate is 11.1, implying annual growth of 88.1%.
Current consensus DPS estimate is N/A, implying a prospective dividend yield of N/A.
Current consensus EPS estimate suggests the PER is 6.8.
Market Sentiment: 1.0
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources
WA1 WA1 RESOURCES LIMITED
Industrial Metals - Overnight Price: $15.04
Canaccord Genuity rates ((WA1)) as Speculative Buy (1) -
WA1 Resources has delivered assay results from the 2025 infill and extension drilling at Luni, with the best intersection to date returning 67.3m at 5.4% niobium from 70.4m including 30m at 9.8% from 77 m.
Other infill holes delivered thick high-grade zones.
Canaccord Genuity believes this focus area will now form the early stages of a mine plan. Speculative Buy rating and $28 target.
This report was published on November 18, 2025.
Target price is $28.00 Current Price is $15.04 Difference: $12.96
If WA1 meets the Canaccord Genuity target it will return approximately 86% (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
WJL WEBJET GROUP LIMITED
Travel, Leisure & Tourism - Overnight Price: $0.91
Jarden rates ((WJL)) as Overweight (2) -
Webjet Group delivered a first half result that was in line with expectations, having earlier announced a soft update.
Balance sheet remains strong. Helloworld ((HLO)) has offered to acquire all the issued shares it does not already own.
Jarden notes the offer is above the one by BGH Capital back in May, which was rejected, yet is still -22% below the target and what is considered fair value. Overweight. Target is $1.10.
This report was published on November 19, 2025.
Target price is $1.10 Current Price is $0.91 Difference: $0.195
If WJL meets the Jarden target it will return approximately 22% (excluding dividends, fees and charges).
The company's fiscal year ends in March.
Forecast for FY26:
Jarden forecasts a full year FY26 dividend of 3.00 cents and EPS of 4.00 cents.
At the last closing share price the estimated dividend yield is 3.31%.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 22.63.
Forecast for FY27:
Jarden forecasts a full year FY27 dividend of 3.00 cents and EPS of 5.90 cents.
At the last closing share price the estimated dividend yield is 3.31%.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 15.34.
Market Sentiment: 0.5
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.