Daily Market Reports | Dec 18 2025
This story features LIFE360 INC, and other companies.
For more info SHARE ANALYSIS: 360
The company is included in ASX100, ASX200, ASX300, ALL-ORDS and ALL-TECH
An additional news report on the recommendation, valuation, forecast and opinion changes and updates for ASX-listed equities.
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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)
360 3DA ARU ATH BRE CWP MPW OBM OCC ORE RSG SDF
360 LIFE360 INC
Software & Services – Overnight Price: $32.37
Canaccord Genuity rates ((360)) as Buy (1) –
Canaccord Genuity hosted investor meetings with Life360’s CFO and investor relations, where discussions included top-of-funnel trends, the strategic logic for acquiring Nativo, and encouraging early uptake of the GPS pet tracker.
Although 3Q25 MAU (monthly active users) growth slowed and pressured sentiment, management framed this as temporary, one-off factors rather than a structural demand shift.
Overall, the broker reckons Life360 is broadening into a more diversified platform, suggesting the market may be undervaluing its durability and upside
Buy. Target price US$115 for Nasdaq listed stock.
This report was published on December 15, 2025.
Current Price is $32.37. Target price not assessed.
Current consensus price target is $52.00, suggesting upside of 66.1%(ex-dividends)
The company’s fiscal year ends in December.
Forecast for FY25:
Canaccord Genuity forecasts a full year FY25 EPS of 57.53 cents.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 56.27.How do these forecasts compare to market consensus projections?
Current consensus EPS estimate is 52.0, 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 60.2.
Forecast for FY26:
Canaccord Genuity forecasts a full year FY26 EPS of 66.85 cents.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 48.42.How do these forecasts compare to market consensus projections?
Current consensus EPS estimate is 88.8, implying annual growth of 70.8%.
Current consensus DPS estimate is N/A, implying a prospective dividend yield of N/A.
Current consensus EPS estimate suggests the PER is 35.2.
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
3DA AMAERO LIMITED
Industrial Sector Contractors & Engineers – Overnight Price: $0.27
Research as a Service (RaaS) rates ((3DA)) as No Rating (-1) –
Amaero received a US Navy Letter of Support endorsing its PM-HIP process as a technically ready alternative to traditional castings/forgings, Research as a Service (RaaS) notes. This strengthens its positioning for defence prime collaboration.
The company also ordered a fourth EIGA Premium Atomiser and secured a $9m (60%) cost saving on an argon recycling plant. This is expected to be installed by end-2026 and commissioned in 1Q2027, bringing opex savings forward by 12 months.
RaaS notes the -$72m three-year capex program remains on time/budget to 30 June 2026, and is more confident of its forecasts for profitability in FY28 and at-capacity earnings by FY30.
Valuation 82c.
Research as a Service (RaaS) research standard doesn’t carry any targets, ratings or recommendations. Investors can draw conclusions from valuations and commentary.
This report was published on December 16, 2025.
Target price is $0.82 Current Price is $0.27 Difference: $0.555
If 3DA meets the Research as a Service (RaaS) target it will return approximately 209% (excluding dividends, fees and charges).
The company’s fiscal year ends in June.
Forecast for FY26:
Research as a Service (RaaS) forecasts a full year FY26 dividend of 0.00 cents and EPS of minus 2.40 cents.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is minus 11.04.
Forecast for FY27:
Research as a Service (RaaS) forecasts a full year FY27 dividend of 0.00 cents and EPS of minus 0.90 cents.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is minus 29.44.
Market Sentiment: 0.0
All consensus data are updated until yesterday. FNArena’s consensus calculations require a minimum of three sources
ARU ARAFURA RARE EARTHS LIMITED
Rare Earth Minerals – Overnight Price: $0.22
Canaccord Genuity rates ((ARU)) as Upgrade to Speculative Buy from Hold (1) –
Canaccord Genuity has removed Arafura Rare Earths from “under review” with an upgrade to Speculative Buy from Hold, and an increase in target price to 35c from 20c.
The company raised $482m at $0.28/sh for Nolans rare earths project, taking pro-forma cash to $570m and materially de-risking funding. Hancock Prospecting lifted its stake to 15.6%.
The broker notes the company has US$775m in senior debt secured and over US$1bn total debt support, and an estimated -US$1.9bn total funding needs.
This means the equity gap is now -US$500m, expected to be met via conditional cornerstone equity, with potential upside from US EXIM debt.
Funding visibility supports a 1Q26 FID, with the project development-ready and a 3-year build targeting commissioning in late 2029, the broker highlights.
This report was published on December 17, 2025.
Target price is $0.35 Current Price is $0.22 Difference: $0.13
If ARU meets the Canaccord Genuity target it will return approximately 59% (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.
All consensus data are updated until yesterday. FNArena’s consensus calculations require a minimum of three sources
ATH ALTERITY THERAPEUTICS LIMITED
Overnight Price: $0.01
Canaccord Genuity rates ((ATH)) as Initiation of coverage with Speculative Buy (1) –
Canaccord Genuity has initiated coverage of Alterity Therapeutics with a Speculative Buy rating and target price of 1.6c.
The company is developing ATH434 for synucleinopathies such as MSA and Parkinson’s by targeting excess brain iron linked to neurodegeneration.
Two Phase II studies (87 patients total) delivered a range of positive efficacy signal, positioning ATH434 as the first iron-modulating therapy to show this breadth. Phase III MSA trial is expected to start within 12 months.
With no approved disease-specific MSA treatments, similar Phase III outcomes could drive rapid uptake and potential peak sales of US$1.5bn, in the broker’s view.
The fully de-risked valuation is estimated at 4.8c.
This report was published on December 17, 2025.
Target price is $0.02 Current Price is $0.01 Difference: $0.008
If ATH meets the Canaccord Genuity target it will return approximately 100% (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 minus 10.00 cents.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is minus 0.08.
Forecast for FY27:
Canaccord Genuity forecasts a full year FY27 dividend of 0.00 cents and EPS of minus 20.00 cents.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is minus 0.04.
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: $4.11
Canaccord Genuity rates ((BRE)) as Speculative Buy (1) –
Canaccord Genuity notes Brazilian Rare Earths’ Amargosa Bauxite Scoping Study outlined a simple, low-capex DSO project underpinned by high-grade resources near infrastructure.
It supports a 17-year, 5.1Mtpa operation with -US$49/t opex and -US$119m capex to first production.
On the broker’s current assumptions, the project could generate US$100m EBITDA annually with around 2-year payback, while an expanded 15Mtpa option offers stronger economics but materially higher capex and risk.
The broker reckons the company has multiple optimisation levers ahead, including higher DSO volumes, beneficiation, scheduling efficiencies and further resource growth to be tested in future studies.
Including Amargosa in the NAV results in a 14% rise in target price to $7.30 from $6.40. Speculative Buy maintained.
This report was published on December 15, 2025.
Target price is $7.30 Current Price is $4.11 Difference: $3.19
If BRE meets the Canaccord Genuity target it will return approximately 78% (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
CWP CEDAR WOODS PROPERTIES LIMITED
Infra & Property Developers – Overnight Price: $8.80
Moelis rates ((CWP)) as Buy (1) –
Cedar Woods Properties lifted FY26 guidance to at least 20% net profit growth, marking the second upgrade since August. It is a reflection of greater confidence in full-year settlements, given most sales are already contracted, Moelis observes.
Growth is expected to be driven by price gains and margin expansion in key markets Perth and Brisbane, with South Australia steady and improving enquiry/sales in Victoria.
The broker lifted FY26 net profit growth forecasts to 23% from 17%. Target rises to $10.09 from $9.52, and Buy maintained.
This report was published on December 18, 2025.
Target price is $10.09 Current Price is $8.80 Difference: $1.29
If CWP meets the Moelis target it will return approximately 15% (excluding dividends, fees and charges).
The company’s fiscal year ends in June.
Forecast for FY26:
Moelis forecasts a full year FY26 dividend of 34.00 cents and EPS of 72.00 cents.
At the last closing share price the estimated dividend yield is 3.86%.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 12.22.
Forecast for FY27:
Moelis forecasts a full year FY27 dividend of 38.00 cents and EPS of 81.20 cents.
At the last closing share price the estimated dividend yield is 4.32%.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 10.84.
Market Sentiment: 1.0
All consensus data are updated until yesterday. FNArena’s consensus calculations require a minimum of three sources
MPW METAL POWDER WORKS LIMITED
Overnight Price: $1.94
Canaccord Genuity rates ((MPW)) as Speculative Buy (1) –
Following an initiation of coverage of Metal Powder Works in October, Canaccord Genuity has maintained its Speculative Buy rating and $4.10 target price.
The company signed a powder partnership with Austal’s ((ASB)) US arm to supply metal powder for cold-spray additive manufacturing in US Navy shipbuilding.
The broker notes near-term revenue is immaterial pending 18–24 month qualification, but testing has begun toward a future offtake.
Operational momentum is building with an expanded sales team, in-sourced tooling, and next-gen commissioning due 1Q26.
Near-term revenue upside is most visible in laser cladding, while broader PM (powder metallurgy) and AM (additive manufacturing) customers remain in testing phases that could convert to recurring orders.
The broker believes the DirectPowder process underpins a structural cost advantage, supporting its 2028 target of 800t. The broker has modelled a conservative 254t and $31m revenue, and $7m EBITDA by FY28.
This report was published on December 17, 2025.
Target price is $4.10 Current Price is $1.94 Difference: $2.16
If MPW meets the Canaccord Genuity target it will return approximately 111% (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 minus 3.00 cents.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is minus 64.67.
Forecast for FY27:
Canaccord Genuity forecasts a full year FY27 dividend of 0.00 cents and EPS of minus 2.00 cents.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is minus 97.00.
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: $1.40
Moelis rates ((OBM)) as Hold (3) –
Moelis comments Ora Banda Mining’s latest drilling results point to a material northern extension at the Sand King deposit, with step-out holes up to 400m beyond current mine plans and multiple high-grade surface and underground intercepts.
Commentary notes the results support meaningful resource and reserve growth, with further extensions likely, and an updated resource expected in Mar/Apr 2026.
The broker reckons the valuation already assumes a generous cashflow multiple, limiting formal rating upside. However, continued drilling success should support share price momentum and longer-term production expansion potential, in the broker’s view.
Hold and $1.22 target price are unchanged.
This report was published on December 18, 2025.
Target price is $1.22 Current Price is $1.40 Difference: minus $0.18 (current price is over target).
If OBM meets the Moelis target it will return approximately minus 13% (excluding dividends, fees and charges – negative figures indicate an expected loss).
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 16.50 cents.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 8.48.
Forecast for FY27:
Moelis forecasts a full year FY27 dividend of 0.00 cents and EPS of 13.30 cents.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 10.53.
Market Sentiment: 0.8
All consensus data are updated until yesterday. FNArena’s consensus calculations require a minimum of three sources
OCC ORTHOCELL LIMITED
Pharmaceuticals & Biotech/Lifesciences – Overnight Price: $1.02
Canaccord Genuity rates ((OCC)) as Initiation of coverage with Speculative Buy (1) –
Canaccord Genuity has initiated coverage of Orthocell with a Speculative Buy rating and target price of $1.33.
The company is a regenerative medicine company focused on collagen-based devices for peripheral nerve repair. The lead product, Remplir, a collagen nerve wrap to aid regeneration and reduce scarring, has secured major global approvals, including FDA 510(k) in April 2025, setting up a multi-year growth runway.
The company is beginning its US rollout using a capital-light distributor model, guided by an in-house commercial team experienced in nerve repair.
The broker reckons the company is moving into a 12–24 month period where rising VAC uptake, greater surgeon familiarity, and strengthening clinical data could meaningfully de-risk its revenue outlook.
This report was published on December 17, 2025.
Target price is $1.33 Current Price is $1.02 Difference: $0.305
If OCC meets the Canaccord Genuity target it will return approximately 30% (excluding dividends, fees and charges).
The company’s fiscal year ends in June.
Forecast for FY26:
Canaccord Genuity forecasts a full year FY26 EPS of minus 3.00 cents.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is minus 34.17.
Forecast for FY27:
Canaccord Genuity forecasts a full year FY27 EPS of minus 1.00 cents.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is minus 102.50.
All consensus data are updated until yesterday. FNArena’s consensus calculations require a minimum of three sources
ORE OREZONE GOLD CORPORATION REGISTERED
Gold & Silver – Overnight Price: $1.89
Canaccord Genuity rates ((ORE)) as Buy (1) –
Orezone Gold poured first gold from the 2.5Mtpa Stage 1 hard-rock expansion at Bombore mine in Burkina Faso, Canaccord Genuity observes.
Early throughput was around 78% of nameplate and commercial production is still expected by the company in 1Q2026.
The company also re-iterated FY26 guidance at 170-185koz. The broker views the milestone positively, noting expansion remains on track for 1Q2026 commercial production.
The broker continues to model Stage 2 output lift to 233koz by 2027. Forecasts updated to include 3Q25 result, higher 4Q25 costs to match AISC guidance of $1,700–1,800/oz and roll forward.
This resulted in a lift in target price to $3.75 from $3.25. Buy maintained.
This report was published on December 16, 2025.
Target price is $3.75 Current Price is $1.89 Difference: $1.865
If ORE meets the Canaccord Genuity target it will return approximately 99% (excluding dividends, fees and charges).
The company’s fiscal year ends in December.
Forecast for FY25:
Canaccord Genuity forecasts a full year FY25 EPS of 24.88 cents.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 7.58.
Forecast for FY26:
Canaccord Genuity forecasts a full year FY26 EPS of 65.30 cents.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 2.89.
All consensus data are updated until yesterday. FNArena’s consensus calculations require a minimum of three sources
RSG RESOLUTE MINING LIMITED
Gold & Silver – Overnight Price: $1.17
Canaccord Genuity rates ((RSG)) as Buy (1) –
Resolute Mining’s updated DFS for the Doropo gold project in Cote d’Ivoire showed a 33% increase in reserves to 2.5Moz, a 13-year mine life and average 170kozpa production, Canaccord Genuity notes.
Capex rises 20% to US$515m and AISC increases 11% to US$1,406/oz, offsetting longer mine life versus prior modelling. Permits are expected late-2025/early-2026, with FID in early 2026 and first gold targeted for 1H2028.
With strong cash and forecast cash flows, the broker believes Resolute should comfortably fund development, with mine life extensions a potential long-term opportunity.
Buy. Target rises to $2.30 from $2.00 as the broker incorporates Doropo update into the modelling.
This report was published on December 16, 2025.
Target price is $2.30 Current Price is $1.17 Difference: $1.135
If RSG meets the Canaccord Genuity target it will return approximately 97% (excluding dividends, fees and charges).
The company’s fiscal year ends in December.
Forecast for FY25:
Canaccord Genuity forecasts a full year FY25 dividend of 0.00 cents and EPS of 15.55 cents.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 7.49.
Forecast for FY26:
Canaccord Genuity forecasts a full year FY26 dividend of 0.00 cents and EPS of 26.43 cents.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 4.41.
This company reports in USD. All estimates have been converted into AUD by FNArena at present FX values.
Market Sentiment: 0.8
All consensus data are updated until yesterday. FNArena’s consensus calculations require a minimum of three sources
SDF STEADFAST GROUP LIMITED
Insurance – Overnight Price: $5.07
Jarden rates ((SDF)) as Overweight (2) –
Steadfast Group updated the outlook on the insurance market post the AGM downgrade for FY26 premium rate expectations.
Management continues to re-iterate FY26 net profit after tax guidance of $365-$375m despite the easing premium rate backdrop, Jarden notes, with earnings more skewed to the 2H26.
The insurance broker also highlighted -$122.7m in acquisitions year-to-date to Nov 30 with an additional -$202m to be completed by the remainder of the year. As a result gearing is lifting to 40% from 35%, the analyst notes.
Jarden believes it is premature to call an end to the bottom of the insurance cycle and continues to forecast premium rate growth of 1% for FY26 and FY27.
Target price slips to $6.25 from $6.50. No change to Overweight rating.
This report was published on December 11, 2025.
Target price is $6.25 Current Price is $5.07 Difference: $1.18
If SDF meets the Jarden target it will return approximately 23% (excluding dividends, fees and charges).
Current consensus price target is $6.15, suggesting upside of 19.8%(ex-dividends)
The company’s fiscal year ends in June.
Forecast for FY26:
Jarden forecasts a full year FY26 dividend of 20.80 cents and EPS of 33.10 cents.
At the last closing share price the estimated dividend yield is 4.10%.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 15.32.How do these forecasts compare to market consensus projections?
Current consensus EPS estimate is 31.9, implying annual growth of 5.1%.
Current consensus DPS estimate is 21.1, implying a prospective dividend yield of 4.1%.
Current consensus EPS estimate suggests the PER is 16.1.
Forecast for FY27:
Jarden forecasts a full year FY27 dividend of 22.20 cents and EPS of 35.10 cents.
At the last closing share price the estimated dividend yield is 4.38%.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 14.44.How do these forecasts compare to market consensus projections?
Current consensus EPS estimate is 34.0, implying annual growth of 6.6%.
Current consensus DPS estimate is 21.7, implying a prospective dividend yield of 4.2%.
Current consensus EPS estimate suggests the PER is 15.1.
Market Sentiment: 0.6
All consensus data are updated until yesterday. FNArena’s consensus calculations require a minimum of three sources
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CHARTS
For more info SHARE ANALYSIS: 360 - LIFE360 INC
For more info SHARE ANALYSIS: 3DA - AMAERO LIMITED
For more info SHARE ANALYSIS: ARU - ARAFURA RARE EARTHS LIMITED
For more info SHARE ANALYSIS: ASB - AUSTAL LIMITED
For more info SHARE ANALYSIS: ATH - ALTERITY THERAPEUTICS LIMITED
For more info SHARE ANALYSIS: BRE - BRAZILIAN RARE EARTHS LIMITED
For more info SHARE ANALYSIS: CWP - CEDAR WOODS PROPERTIES LIMITED
For more info SHARE ANALYSIS: MPW - METAL POWDER WORKS LIMITED
For more info SHARE ANALYSIS: OBM - ORA BANDA MINING LIMITED
For more info SHARE ANALYSIS: OCC - ORTHOCELL LIMITED
For more info SHARE ANALYSIS: ORE - OREZONE GOLD CORPORATION CDI
For more info SHARE ANALYSIS: RSG - RESOLUTE MINING LIMITED
For more info SHARE ANALYSIS: SDF - STEADFAST GROUP LIMITED