Daily Market Reports | 11:30 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.
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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)
AD8 AUE BEN BET BNZ CKF CSX DPM LOT MPK NXL ORE
AD8 AUDINATE GROUP LIMITED
Hardware & Equipment - Overnight Price: $4.51
Moelis rates ((AD8)) as Buy (1) -
As Moelis points out, strategically, Audinate Group has been trying to extend its leadership position to video from the dominant position it retains in networked audio with the acquisition of Iris Studio, bringing forth a cloud based platform for pan tilt zoom (PTZ) cameras.
Iris software permits end users to access Iris Studio via a subscription model and paves the way for AI driven production, incorporating automated switching, framing and shot selection, the analyst explains.
A Buy rating is retained with the group's leadership in audio networking believed to be strategically valuable.
No change to the broker's earnings forecasts and target price of $9.43.
This report was published on December 5, 2025.
Target price is $9.43 Current Price is $4.51 Difference: $4.92
If AD8 meets the Moelis target it will return approximately 109% (excluding dividends, fees and charges).
Current consensus price target is $5.33, suggesting upside of 17.5%(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 minus 14.70 cents.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is minus 30.68.How do these forecasts compare to market consensus projections?
Current consensus EPS estimate is -19.9, 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.
Forecast for FY27:
Moelis forecasts a full year FY27 dividend of 0.00 cents and EPS of minus 6.70 cents.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is minus 67.31.How do these forecasts compare to market consensus projections?
Current consensus EPS estimate is -17.1, 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
AUE AURUM RESOURCES LIMITED
Gold & Silver - Overnight Price: $0.59
Canaccord Genuity rates ((AUE)) as Initiation of coverage with Speculative Buy (1) -
Canaccord Genuity has initiated coverage of Aurum Resources with a Speculative Buy rating and target price of $1.50.
The company is advancing the 2.41Moz Boundiali Gold Project in Côte d’Ivoire, leveraging 12 company-owned diamond rigs to drill faster and cheaper. It spans 1,470sq.km with multiple deposits near major regional mines, giving a strong exploration and development context.
A pre-feasibility study is due in March 2026, and the company envisages a 5-6Mtpa open pit producing up to 180koz annually with an estimated AISC around US$1,450/oz.
Strategic investors Montage Gold Corp (MAU), the Lundin family, and Zhaojin hold 9.9%, 9.9%, and 8.5%, respectively. The broker sees project upside to 3.1Moz at Boundiali and 1.1Moz for the broader Napié gold project.
Last week, MAU’s offer to buy the rest of African Gold ((A1G)) at a rich $350/oz EV/resource multiple, if applied to Aurum, results in a valuation of $2.75/share, the broker highlights.
This report was published on December 4, 2025.
Target price is $1.50 Current Price is $0.59 Difference: $0.91
If AUE meets the Canaccord Genuity target it will return approximately 154% (excluding dividends, fees and charges).
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources
BEN BENDIGO & ADELAIDE BANK LIMITED
Banks - Overnight Price: $10.38
Jarden rates ((BEN)) as Neutral (3) -
Jarden observes several updates from Bendigo & Adelaide Bank at its 2025 Investor Day, including the acquisition of RACQ Bank's retail lending assets and deposits, with the transfer expected during 1H27.
Around 90k new customers will come on stream and the acquisition is anticipated to be both ROE and EPS positive.
Regarding the anti-money laundering investigation, little information was disclosed, with the analyst noting Deloitte was engaged in August 2025 to conduct an independent investigation.
The RACQ acquisition is considered as moving in the right direction to grow the regional lender's low cost deposit base. No change to Neutral rating and $11 target.
This report was published on December 4, 2025.
Target price is $11.00 Current Price is $10.38 Difference: $0.62
If BEN meets the Jarden target it will return approximately 6% (excluding dividends, fees and charges).
Current consensus price target is $10.27, suggesting downside of -2.0%(ex-dividends)
The company's fiscal year ends in June.
Forecast for FY26:
Jarden forecasts a full year FY26 dividend of 63.00 cents and EPS of 83.00 cents.
At the last closing share price the estimated dividend yield is 6.07%.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 12.51.How do these forecasts compare to market consensus projections?
Current consensus EPS estimate is 81.5, implying annual growth of N/A.
Current consensus DPS estimate is 63.0, implying a prospective dividend yield of 6.0%.
Current consensus EPS estimate suggests the PER is 12.9.
Forecast for FY27:
Jarden forecasts a full year FY27 dividend of 66.00 cents and EPS of 87.40 cents.
At the last closing share price the estimated dividend yield is 6.36%.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 11.88.How do these forecasts compare to market consensus projections?
Current consensus EPS estimate is 84.6, implying annual growth of 3.8%.
Current consensus DPS estimate is 63.0, implying a prospective dividend yield of 6.0%.
Current consensus EPS estimate suggests the PER is 12.4.
Market Sentiment: -0.3
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources
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