Australian Broker Call *Extra* Edition – Jan 27, 2026

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            [2] => ((AEL))
            [3] => ((AMC))
            [4] => ((AMI))
            [5] => ((ANZ))
            [6] => ((CBA))
            [7] => ((NAB))
            [8] => ((WBC))
            [9] => ((AZJ))
            [10] => ((BGL))
            [11] => ((BXB))
            [12] => ((CCX))
            [13] => ((CEN))
            [14] => ((CSC))
            [15] => ((CWY))
            [16] => ((CY5))
            [17] => ((GLN))
            [18] => ((NXG))
            [19] => ((ORA))
            [20] => ((PNI))
            [21] => ((PNR))
            [22] => ((PPS))
            [23] => ((QAN))
            [24] => ((QOR))
            [25] => ((QUB))
            [26] => ((MQG))
            [27] => ((SS1))
            [28] => ((STK))
            [29] => ((TLX))
            [30] => ((VAU))
            [31] => ((VAU))
            [32] => ((VGN))
            [33] => ((VUL))
            [34] => ((WGX))
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            [2] => AEL
            [3] => AMC
            [4] => AMI
            [5] => ANZ
            [6] => CBA
            [7] => NAB
            [8] => WBC
            [9] => AZJ
            [10] => BGL
            [11] => BXB
            [12] => CCX
            [13] => CEN
            [14] => CSC
            [15] => CWY
            [16] => CY5
            [17] => GLN
            [18] => NXG
            [19] => ORA
            [20] => PNI
            [21] => PNR
            [22] => PPS
            [23] => QAN
            [24] => QOR
            [25] => QUB
            [26] => MQG
            [27] => SS1
            [28] => STK
            [29] => TLX
            [30] => VAU
            [31] => VAU
            [32] => VGN
            [33] => VUL
            [34] => WGX
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)

This story features 29METALS LIMITED, and other companies.
For more info SHARE ANALYSIS: 29M
The company is included in ALL-ORDS

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)

29M   ACE   AEL   AMC   AMI   ANZ   AZJ   BGL   BXB   CCX   CEN   CSC   CWY   CY5   GLN   NXG   ORA   PNI   PNR   PPS   QAN   QOR   QUB   SS1   STK   TLX   VAU (2)   VGN   VUL   WGX  

29M    29METALS LIMITED

Copper – Overnight Price: $0.44

Canaccord Genuity rates ((29M)) as Sell (5) –

Canaccord Genuity has retained its Sell rating on 29Metals but cut its target price to $0.35 from $0.55 following a weak DecQ 2025 production result and a further deterioration in the balance sheet.

The broker notes copper production of 6.9kt was in line, but by-product output materially missed expectations as seismic activity continued to restrict access to higher-grade ore at Xantho Extended, driving weaker revenue and cash flow.

Cash fell by -33% to $103m during the quarter, with net debt rising to $85m, prompting a $150m capital raising at $0.40 per share to fund working capital and ongoing expenditure at Golden Grove and Capricorn Copper.

The analyst lowers 2026 earnings (EBITDA) by -38% on lower production guidance and higher costs, and believes a significant operational turnaround is required for value creation, with seismic risk at Golden Grove remaining a key concern.

This report was published on January 20, 2026.

Target price is $0.35 Current Price is $0.44 Difference: minus $0.09 (current price is over target).
If 29M meets the Canaccord Genuity target it will return approximately minus 20% (excluding dividends, fees and charges – negative figures indicate an expected loss).
Current consensus price target is $0.40, suggesting downside of -8.3%(ex-dividends)
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 minus 0.03 cents.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is minus 1466.67.

How do these forecasts compare to market consensus projections?

Current consensus EPS estimate is -1.6, 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:

Canaccord Genuity forecasts a full year FY26 dividend of 0.00 cents and EPS of 0.02 cents.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 2200.00.

How do these forecasts compare to market consensus projections?

Current consensus EPS estimate is 1.2, 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 36.7.

Market Sentiment: 0.0
All consensus data are updated until yesterday. FNArena’s consensus calculations require a minimum of three sources

ACE    ACUSENSUS LIMITED

Transportation & Logistics – Overnight Price: $1.65

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

Following completion of a $30m placement and the establishment of a $25m debt facility, securing funding ahead of expected contract growth in calendar 2026, Canaccord Genuity has retained its Buy rating and target price of $2.30 on Acusensus.

The broker notes the group enters 2026 with around $70m in available liquidity, which is expected to support upfront bonding requirements, manufacturing, mobilisation activity and continued product development as contract wins scale.

Contracting momentum across Australia, New Zealand and the US, remains robust with initial deployment underway in Connecticut and full roll-out expected in 1Q26, while noting a growing pipeline of potential US opportunities beyond the current program.

The analyst believes revenue growth for 2026 is largely underwritten by existing contracted value, with guidance of $83–87m supported by undelivered TCV of around $220m.

This report was published on January 19, 2026.

Target price is $2.30 Current Price is $1.65 Difference: $0.65
If ACE 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 minus 1.00 cents.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is minus 165.00.

Forecast for FY27:

Canaccord Genuity forecasts a full year FY27 dividend of 0.00 cents and EPS of 0.10 cents.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 1650.00.

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

AEL    AMPLITUDE ENERGY LIMITED

Crude Oil – Overnight Price: $3.07

Jarden rates ((AEL)) as Buy (1) –

Jarden reiterated its Buy rating on Amplitude Energy and $3.30 target, ahead of the receipt of the Ocean Equinox rig, which will lead to the start of the ECSP (East Cost Supply Project) drilling campaign.

The broker notes Elanora and Isabella (P50 resources 132 Bcf and 124 Bcf) anchor near-term value, with a combined valuation of $1.65/share. At 70% chance vs 50% prior, the broker’s valuation now incorporates $1.16/share.

While execution risks remain, the broker reckons improved Orbost throughput and solid production outlook underpin confidence, with first ECSP gas expected in FY29.

This report was published on January 20, 2026.

Target price is $3.30 Current Price is $3.07 Difference: $0.23
If AEL meets the Jarden target it will return approximately 7% (excluding dividends, fees and charges).
Current consensus price target is $3.41, suggesting upside of 11.0%(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 14.00 cents.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 21.93.

How do these forecasts compare to market consensus projections?

Current consensus EPS estimate is 8.6, 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 35.7.

Forecast for FY27:

Jarden forecasts a full year FY27 dividend of 0.00 cents and EPS of 22.90 cents.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 13.41.

How do these forecasts compare to market consensus projections?

Current consensus EPS estimate is 12.4, implying annual growth of 44.2%.
Current consensus DPS estimate is N/A, implying a prospective dividend yield of N/A.
Current consensus EPS estimate suggests the PER is 24.8.

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

AMC    AMCOR PLC

Paper & Packaging – Overnight Price: $62.74

Jarden rates ((AMC)) as Overweight (2) –

Amcor heads into the 1H26 result with low market expectations, as Jarden notes underlying customer and industry volumes have deteriorated despite management maintaining FY26 core EPS guidance of US$4.00–4.15.

The broker forecasts 2Q26 core EPS of US$87.6cps, around 4% ahead of consensus, supported by cost control and synergy delivery following the Berry integration, even as volumes remain under pressure.

Jarden expects no change to FY26 guidance at the result, but highlights balance sheet leverage remains elevated at over 4x, with investors focused on free cash flow delivery in 4Q26 to reduce gearing.

The broker retained its Overweight rating and lifted its target price to $80.20 from $15.90 to reflect the 5:1 stock consolidation, with forecasts otherwise unchanged.

This report was published on January 21, 2026.

Target price is $80.20 Current Price is $62.74 Difference: $17.46
If AMC meets the Jarden target it will return approximately 28% (excluding dividends, fees and charges).
Current consensus price target is $81.88, suggesting upside of 30.5%(ex-dividends)
The company’s fiscal year ends in June.

Forecast for FY26:

Jarden forecasts a full year FY26 dividend of 396.76 cents and EPS of 618.83 cents.
At the last closing share price the estimated dividend yield is 6.32%.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 10.14.

How do these forecasts compare to market consensus projections?

Current consensus EPS estimate is 586.0, implying annual growth of N/A.
Current consensus DPS estimate is 374.0, implying a prospective dividend yield of 6.0%.
Current consensus EPS estimate suggests the PER is 10.7.

Forecast for FY27:

Jarden forecasts a full year FY27 dividend of 414.66 cents and EPS of 664.35 cents.
At the last closing share price the estimated dividend yield is 6.61%.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 9.44.

How do these forecasts compare to market consensus projections?

Current consensus EPS estimate is 654.5, implying annual growth of 11.7%.
Current consensus DPS estimate is 383.1, implying a prospective dividend yield of 6.1%.
Current consensus EPS estimate suggests the PER is 9.6.

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

AMI    AURELIA METALS LIMITED

Gold & Silver – Overnight Price: $0.34

Moelis rates ((AMI)) as Buy (1) –

Solid December quarter production has Aurelia Metals tracking well toward FY26 guidance, with Moelis noting aggregate output and cash flow outcomes broadly met expectations despite mixed performance across individual commodities.

The broker highlights mine operating cash flow of $42.9m was slightly ahead of forecasts, supported by stronger gold grades, while copper, zinc and lead volumes were softer due to grade and throughput variability.

Positive tailwinds from higher commodity prices and improving free cash flow are noted, which the broker believes could pull forward a cash flow inflection point and support renewed investor interest.

 Buy rating retained. Target price to $0.43 from $0.42, with forecasts largely unchanged.

This report was published on January 22, 2026.

Target price is $0.43 Current Price is $0.34 Difference: $0.09
If AMI meets the Moelis target it will return approximately 26% (excluding dividends, fees and charges).
Current consensus price target is $0.44, suggesting upside of 29.4%(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 4.40 cents.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 7.73.

How do these forecasts compare to market consensus projections?

Current consensus EPS estimate is 4.3, implying annual growth of 48.8%.
Current consensus DPS estimate is N/A, implying a prospective dividend yield of N/A.
Current consensus EPS estimate suggests the PER is 7.9.

Forecast for FY27:

Moelis forecasts a full year FY27 dividend of 0.00 cents and EPS of 5.20 cents.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 6.54.

How do these forecasts compare to market consensus projections?

Current consensus EPS estimate is 5.7, implying annual growth of 32.6%.
Current consensus DPS estimate is N/A, implying a prospective dividend yield of N/A.
Current consensus EPS estimate suggests the PER is 6.0.

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

ANZ    ANZ GROUP HOLDINGS LIMITED

Banks – Overnight Price: $36.21

Jarden rates ((ANZ)) as Overweight (2) –

Jarden believes the growing emergence of stablecoins poses a structural threat to the traditional bank deposit model, with the broker warning incumbent banks may seek to slow adoption through lobbying, similar to developments now playing out in the US.

The broker argues banks’ reliance on low or no-cost retail deposits leaves net interest margins exposed should digital alternatives force higher deposit pricing, with Jarden estimating a potential NIM impact of up to -75bps for some majors if deposits were repriced at the cash rate.

Jarden maintains its relative preferences across the sector, rating ANZ Bank Overweight alongside a $35 target.

CommBank ((CBA)) is Sell rated with a $100 target, National Australia Bank ((NAB)) Sell rated with a $29 target, while Westpac Banking Corp ((WBC)) is Underweight rated with a $32 target.

This report was published on January 19, 2026.

Target price is $35.00 Current Price is $36.21 Difference: minus $1.21 (current price is over target).
If ANZ meets the Jarden target it will return approximately minus 3% (excluding dividends, fees and charges – negative figures indicate an expected loss).
Current consensus price target is $34.81, suggesting downside of -3.9%(ex-dividends)
The company’s fiscal year ends in September.

Forecast for FY26:

Jarden forecasts a full year FY26 dividend of 166.00 cents and EPS of 252.70 cents.
At the last closing share price the estimated dividend yield is 4.58%.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 14.33.

How do these forecasts compare to market consensus projections?

Current consensus EPS estimate is 243.5, implying annual growth of 22.9%.
Current consensus DPS estimate is 167.4, implying a prospective dividend yield of 4.6%.
Current consensus EPS estimate suggests the PER is 14.9.

Forecast for FY27:

Jarden forecasts a full year FY27 dividend of 166.00 cents and EPS of 271.60 cents.
At the last closing share price the estimated dividend yield is 4.58%.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 13.33.

How do these forecasts compare to market consensus projections?

Current consensus EPS estimate is 252.4, implying annual growth of 3.7%.
Current consensus DPS estimate is 172.6, implying a prospective dividend yield of 4.8%.
Current consensus EPS estimate suggests the PER is 14.3.

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

AZJ    AURIZON HOLDINGS LIMITED

Transportation & Logistics – Overnight Price: $3.54

Jarden rates ((AZJ)) as Neutral (3) –

Previewing the 1H26 result, Jarden expects Aurizon to report softer earnings, reflecting lower above-rail volumes and ongoing pressure across bulk and general freight, despite more stable coal haulage conditions.

The broker notes coal volumes are expected to be broadly resilient, but upside is limited by customer mix and operational variability, while non-coal segments continue to face subdued demand and competitive pricing.

Jarden believes capital discipline and cost control will remain in focus, but sees limited scope for near-term earnings upgrades, with guidance commentary likely to be the key driver of share price performance.

Target price rises to $3.45 from $3.15 with no change to Neutral rating.

This report was published on January 21, 2026.

Target price is $3.45 Current Price is $3.54 Difference: minus $0.09 (current price is over target).
If AZJ meets the Jarden target it will return approximately minus 3% (excluding dividends, fees and charges – negative figures indicate an expected loss).
Current consensus price target is $3.25, suggesting downside of -8.3%(ex-dividends)
The company’s fiscal year ends in June.

Forecast for FY26:

Jarden forecasts a full year FY26 dividend of 19.30 cents and EPS of 24.10 cents.
At the last closing share price the estimated dividend yield is 5.45%.
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 24.3, implying annual growth of 43.4%.
Current consensus DPS estimate is 19.5, implying a prospective dividend yield of 5.5%.
Current consensus EPS estimate suggests the PER is 14.6.

Forecast for FY27:

Jarden forecasts a full year FY27 dividend of 23.10 cents and EPS of 28.90 cents.
At the last closing share price the estimated dividend yield is 6.53%.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 12.25.

How do these forecasts compare to market consensus projections?

Current consensus EPS estimate is 26.7, implying annual growth of 9.9%.
Current consensus DPS estimate is 22.0, implying a prospective dividend yield of 6.2%.
Current consensus EPS estimate suggests the PER is 13.3.

Market Sentiment: -0.2
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: $1.85

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

Canaccord Genuity has retained its Speculative Buy rating and target price of $2.10 on Bellevue Gold following the DecQ production result.

The broker notes production of 32koz was up 10% q/q, with all-in-sustaining-costs (ASIC) of of $2,989/oz in line with expectations and supported by higher grades, despite lower-than-expected mill throughput due to extended maintenance.

Canaccord believes operations are set for a stronger 2H26 as mining progresses into higher-grade areas, with FY26 guidance of 130–150koz at an AISC of $2,600–2,900/oz maintained.

Free cash flow is expected to improve and the miner has a solid balance sheet with cash of $165m, and ongoing hedge reduction.

This report was published on January 20, 2026.

Target price is $2.10 Current Price is $1.85 Difference: $0.25
If BGL meets the Canaccord Genuity target it will return approximately 14% (excluding dividends, fees and charges).
Current consensus price target is $1.88, suggesting upside of 1.8%(ex-dividends)
The company’s fiscal year ends in June.

Forecast for FY26:

Canaccord Genuity forecasts a full year FY26 EPS of 0.10 cents.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 1850.00.

How do these forecasts compare to market consensus projections?

Current consensus EPS estimate is 11.0, 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 16.8.

Forecast for FY27:

Canaccord Genuity forecasts a full year FY27 EPS of 0.21 cents.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 880.95.

How do these forecasts compare to market consensus projections?

Current consensus EPS estimate is 18.7, implying annual growth of 70.0%.
Current consensus DPS estimate is 2.0, implying a prospective dividend yield of 1.1%.
Current consensus EPS estimate suggests the PER is 9.9.

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

BXB    BRAMBLES LIMITED

Transportation & Logistics – Overnight Price: $22.97

Jarden rates ((BXB)) as Upgrade to Neutral from Sell (3) –

Brambles goes into the 1H26 result (Feb 19) with Jarden expecting resilient earnings delivery, supported by ongoing pricing discipline and pallet availability initiatives, despite softer volumes in some end markets.

The broker believes margin momentum should remain intact, underpinned by cost control, network optimisation and carry-over pricing benefits, with US demand trends seen as stable relative to other industrial exposures.

Jarden expects Brambles to reaffirm FY26 guidance, with free cash flow generation and capital discipline remaining key focus areas for investors at the result and lifts EPS forecasts by 1.3% for FY26 and 1.2% for FY27.

The stock is upgraded to Neutral from Sell due to the share price underperformance. Target price lifted to $23.10 from $22.10.

This report was published on January 21, 2026.

Target price is $23.10 Current Price is $22.97 Difference: $0.13
If BXB meets the Jarden target it will return approximately 1% (excluding dividends, fees and charges).
Current consensus price target is $26.78, suggesting upside of 16.6%(ex-dividends)
The company’s fiscal year ends in June.

Forecast for FY26:

Jarden forecasts a full year FY26 dividend of 42.80 cents and EPS of 105.71 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 21.73.

How do these forecasts compare to market consensus projections?

Current consensus EPS estimate is 103.9, implying annual growth of N/A.
Current consensus DPS estimate is 62.8, implying a prospective dividend yield of 2.7%.
Current consensus EPS estimate suggests the PER is 22.1.

Forecast for FY27:

Jarden forecasts a full year FY27 dividend of 68.21 cents and EPS of 113.89 cents.
At the last closing share price the estimated dividend yield is 2.97%.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 20.17.

How do these forecasts compare to market consensus projections?

Current consensus EPS estimate is 118.0, implying annual growth of 13.6%.
Current consensus DPS estimate is 70.5, implying a prospective dividend yield of 3.1%.
Current consensus EPS estimate suggests the PER is 19.5.

This company reports in USD. All estimates have been converted into AUD by FNArena at present FX values.
Market Sentiment: 0.5
All consensus data are updated until yesterday. FNArena’s consensus calculations require a minimum of three sources

CCX    CITY CHIC COLLECTIVE LIMITED

Apparel & Footwear – Overnight Price: $0.13

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

City Chic Collective announced a 1H26 trading update, which City Canaccord Genuity views as confirmation of business stabilisation.

Rvenue over the period declined -1% to $69m, missing expectations, but gross margins improved to 62% on reduced discounting, while cost discipline supported underlying earnings (EBITDA) of around $6–7m and positive free cash flow.

Canaccord highlights solid A&NZ performance, offset by weaker North America revenue due to deliberate inventory reductions in the lower-margin Partners segment, with sales momentum expected to improve into 4Q26 as buying resumes.

The broker believes a return to growth in FY27 will be supported by store rollout and US re-acceleration. This could drive operating leverage and valuation upside,

FY26 and FY27 earnings forecasts have been lowered by -5% and -2%, respectively. Speculative Buy rating and target price of $0.25 retained.

This report was published on January 19, 2026.

Target price is $0.25 Current Price is $0.13 Difference: $0.12
If CCX meets the Canaccord Genuity target it will return approximately 92% (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 0.50 cents.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is minus 26.00.

Forecast for FY27:

Canaccord Genuity forecasts a full year FY27 dividend of 0.00 cents and EPS of 0.80 cents.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 16.25.

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

CEN    CONTACT ENERGY LIMITED

Infrastructure & Utilities – Overnight Price: $8.00

Jarden rates ((CEN)) as Overweight (2) –

Contact Energy’s December 2025 implied EBITDA rose to NZ$81m, with 1H26 EBITDA of around NZ$500m, leaving FY26 on track to at least meet and potentially beat guidance, Jarden observes. 

The update points to improved hydrology and high storage levels across, despite persistently low wholesale power prices, the broker notes.

Earnings strength was driven by the Manawa acquisition and higher hydro/geothermal generation, alongside improved mass-market and wholesale netbacks.

The broker notes the build program remains on schedule, one-off costs are trending lighter than expected, and strong hydro storage supports FY26 outlook. 

Overweight maintained. Target unchanged at NZ$10.85.

This report was published on January 22, 2026.

Current Price is $8.00. Target price not assessed.
The company’s fiscal year ends in June.

Forecast for FY26:

Jarden forecasts a full year FY26 EPS of 28.82 cents.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 27.76.

Forecast for FY27:

Jarden forecasts a full year FY27 EPS of 30.80 cents.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 25.97.

This company reports in NZD. All estimates have been converted into AUD by FNArena at present FX values.
Market Sentiment: 0.5
All consensus data are updated until yesterday. FNArena’s consensus calculations require a minimum of three sources

CSC    CAPSTONE COPPER CORP.

Copper – Overnight Price: $14.95

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

Canaccord Genuity has reiterated its Buy rating on Capstone Copper with target price unchanged at CA$17.00 following 4Q2025 production results and an update on the ongoing Mantoverde strike.

The broker notes 4Q copper production of 58kt missed its estimate of 64kt, while full-year 2025 production of 225kt landed within guidance of 220–255kt, despite operational disruptions.

Mantoverde continued operating at around 75% of planned rates during the strike, materially above prior expectations, which is viewed positively in the current copper price environment.

The analyst forecasts a strong 2026, driven by improved performance at Pinto Valley, higher throughput and recoveries at Mantoverde following completion of the MVDP-Optimized expansion, and higher copper price assumptions, with the strike expected to be resolved within weeks.

This report was published on January 15, 2026.

Current Price is $14.95. Target price not assessed.
Current consensus price target is $16.68, suggesting upside of 11.6%(ex-dividends)
The company’s fiscal year ends in December.

Forecast for FY25:

Canaccord Genuity forecasts a full year FY25 EPS of 18.83 cents.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 79.40.

How do these forecasts compare to market consensus projections?

Current consensus EPS estimate is 36.4, implying annual growth of 117.4%.
Current consensus DPS estimate is N/A, implying a prospective dividend yield of N/A.
Current consensus EPS estimate suggests the PER is 41.1.

Forecast for FY26:

Canaccord Genuity forecasts a full year FY26 EPS of 97.46 cents.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 15.34.

How do these forecasts compare to market consensus projections?

Current consensus EPS estimate is 107.9, implying annual growth of 196.4%.
Current consensus DPS estimate is N/A, implying a prospective dividend yield of N/A.
Current consensus EPS estimate suggests the PER is 13.9.

Market Sentiment: 0.8
All consensus data are updated until yesterday. FNArena’s consensus calculations require a minimum of three sources

CWY    CLEANAWAY WASTE MANAGEMENT LIMITED

Industrial Sector Contractors & Engineers – Overnight Price: $2.49

Jarden rates ((CWY)) as Overweight (2) –

Cleanaway Waste Management is expected to report steady earnings, supported by pricing outcomes and improved cost recovery, despite softer volumes across construction-exposed waste streams, according to Jarden.

The broker notes margin resilience is being driven by disciplined pricing, contract repricing and easing labour and fuel cost pressures, which are offsetting volume weakness in C&D and industrial waste.

FY26 guidance is anticipated to be maintained, with investors focused on free cash flow conversion and balance sheet discipline following recent capex and acquisition activities.

No changes to EPS forecasts. Overweight rating and $3 target are retained.

This report was published on January 21, 2026.

Target price is $3.00 Current Price is $2.49 Difference: $0.51
If CWY meets the Jarden target it will return approximately 20% (excluding dividends, fees and charges).
Current consensus price target is $3.19, suggesting upside of 28.3%(ex-dividends)
The company’s fiscal year ends in June.

Forecast for FY26:

Jarden forecasts a full year FY26 dividend of 7.30 cents and EPS of 10.80 cents.
At the last closing share price the estimated dividend yield is 2.93%.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 23.06.

How do these forecasts compare to market consensus projections?

Current consensus EPS estimate is 10.6, implying annual growth of 50.8%.
Current consensus DPS estimate is 7.0, implying a prospective dividend yield of 2.8%.
Current consensus EPS estimate suggests the PER is 23.5.

Forecast for FY27:

Jarden forecasts a full year FY27 dividend of 8.50 cents and EPS of 12.50 cents.
At the last closing share price the estimated dividend yield is 3.41%.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 19.92.

How do these forecasts compare to market consensus projections?

Current consensus EPS estimate is 12.5, implying annual growth of 17.9%.
Current consensus DPS estimate is 8.0, implying a prospective dividend yield of 3.2%.
Current consensus EPS estimate suggests the PER is 19.9.

Market Sentiment: 0.9
All consensus data are updated until yesterday. FNArena’s consensus calculations require a minimum of three sources

CY5    CYGNUS METALS LIMITED

Gold & Silver – Overnight Price: $0.23

Canaccord Genuity rates ((CY5)) as Speculative Buy (1) –

Cygnus Metals announced the identification of two high-priority gold drill targets at the Chibougamau Copper-Gold Project in Quebec.

Canaccord Genuity highlights the Gwillim and Joe Mann prospects as offering potential for meaningful resource growth, noting both host historic high-grade production and remain underexplored, with drilling permits in progress and field programs targeted to commence in JunQ26.

The analyst points to a recent 29% increase in the global Chibougamau resource to 14.9Mt at 3.3% CuEq as underpinning a refreshed mining study expected in 1H2026.

Speculative Buy rating maintained with a $0.35 target price.

This report was published on January 20, 2026.

Target price is $0.35 Current Price is $0.23 Difference: $0.12
If CY5 meets the Canaccord Genuity target it will return approximately 52% (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

GLN    GALAN LITHIUM LIMITED

New Battery Elements – Overnight Price: $0.47

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

Galan Lithium achieved key milestones at the Hombre Muerto West lithium brine project during DecQ, with completion of evaporation ponds and dispatch of Authium’s nano-filtration plant, keeping the project on track for commissioning and first lithium production in 1H2026.

Canaccord Genuity notes Galan remains adequately funded to complete Stage 1, which is designed to produce 4ktpa LCE at low operating costs, supported by DecQ25 cash of around $15m and an undrawn US$6m offtake prepayment.

The broker highlights recent lithium price strength could support a low-cost expansion beyond nameplate capacity, with Stage 1 earnings (EBITDA) estimated at around $50m at spot pricing and up to $106m on the 2027 lithium price forecast.

Speculative Buy rating and $0.60 target price retained.

This report was published on January 20, 2026.

Target price is $0.60 Current Price is $0.47 Difference: $0.13
If GLN meets the Canaccord Genuity target it will return approximately 28% (excluding dividends, fees and charges).

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

NXG    NEXGEN ENERGY LIMITED

Uranium – Overnight Price: $18.30

Canaccord Genuity rates ((NXG)) as No Rating (-1) –

Canaccord Genuity has reiterated its Speculative Buy rating on NexGen Energy with a target price of CA$18.50 following the release of final results from the 2025 Patterson Corridor East (PCE) drilling program and the commencement of the planned 2026 program.

The broker notes the mineralised footprint at PCE has continued to expand, with vertical extent increasing to 700m and the primary high-grade subdomain growing to 412m, while recent drilling points to the potential emergence of an additional high-grade zone at depth.

Canaccord believes the market continues to undervalue PCE, noting the project could ultimately provide additional mill feed for Arrow and extend mine life, given its proximity and scale potential.

The analyst highlights the larger 2026 drilling program, up 19% year-on-year to around 42,000m, as a signal of management confidence, with upcoming catalysts including further PCE results and the final Arrow Commission Hearing in February.

This report was published on January 15, 2026.

Current Price is $18.30. Target price not assessed.

This company reports in CAD. All estimates have been converted into AUD by FNArena at present FX values.
Market Sentiment: 0.5
All consensus data are updated until yesterday. FNArena’s consensus calculations require a minimum of three sources

ORA    ORORA LIMITED

Paper & Packaging – Overnight Price: $2.06

Jarden rates ((ORA)) as Buy (1) –

Orora goes into the 1H26 result with low market expectations, with Jarden noting investor focus is firmly on Saverglass, where weak end demand and ongoing de-stocking continue to cloud the near-term earnings outlook.

The broker forecasts 1H26 underlying earnings (EBIT) of $122m, around -5% below consensus, with Saverglass EBIT expected at $58.8m, modestly below market expectations, partly offset by resilient performance from Australian Cans.

Jarden believes maintaining FY26 guidance will be the key share price catalyst, with no balance sheet concerns and improving free cash flow from FY27 potentially supporting capital management.

The broker retained its Buy rating and $2.60 target price, with forecasts unchanged and a pronounced 2H26 earnings skew already embedded.

This report was published on January 21, 2026.

Target price is $2.60 Current Price is $2.06 Difference: $0.54
If ORA meets the Jarden target it will return approximately 26% (excluding dividends, fees and charges).
Current consensus price target is $2.27, suggesting upside of 10.2%(ex-dividends)
The company’s fiscal year ends in June.

Forecast for FY26:

Jarden forecasts a full year FY26 dividend of 10.10 cents and EPS of 13.60 cents.
At the last closing share price the estimated dividend yield is 4.90%.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 15.15.

How do these forecasts compare to market consensus projections?

Current consensus EPS estimate is 13.2, implying annual growth of 22.7%.
Current consensus DPS estimate is 10.2, implying a prospective dividend yield of 5.0%.
Current consensus EPS estimate suggests the PER is 15.6.

Forecast for FY27:

Jarden forecasts a full year FY27 dividend of 12.50 cents and EPS of 16.80 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 12.26.

How do these forecasts compare to market consensus projections?

Current consensus EPS estimate is 14.6, implying annual growth of 10.6%.
Current consensus DPS estimate is 10.9, implying a prospective dividend yield of 5.3%.
Current consensus EPS estimate suggests the PER is 14.1.

Market Sentiment: 0.2
All consensus data are updated until yesterday. FNArena’s consensus calculations require a minimum of three sources

PNI    PINNACLE INVESTMENT MANAGEMENT GROUP LIMITED

Wealth Management & Investments – Overnight Price: $17.47

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

Canaccord Genuity has reiterated its Buy rating on Pinnacle Investment Management but lowered its target price to $28.02 from $29.00, reflecting lower performance fee expectations and delays to the launch of Metrics’ Asset-Based Lending Trusts.

Commentary suggests Pinnacle remains well positioned into FY26, supported by expected inflows across affiliates including Metrics, Plato, Life Cycle and Coolabah, despite recent market volatility.

The broker has upgraded 1H26 FUM forecast to $210.1bn but downgraded its 1H26 net profit forecast to $64.7m, citing weaker performance fees, while 2Q26 net FUM flow expectations are lowered to $6.1bn from $7.2bn following an expected mandate loss at ResCap.

Pinnacle is expected to be removed from the ASX100 in the March rebalance and re-enter the Small Ordinaries.

This report was published on January 19, 2026.

Target price is $28.02 Current Price is $17.47 Difference: $10.55
If PNI meets the Canaccord Genuity target it will return approximately 60% (excluding dividends, fees and charges).
Current consensus price target is $23.46, suggesting upside of 34.3%(ex-dividends)
The company’s fiscal year ends in June.

Forecast for FY26:

Canaccord Genuity forecasts a full year FY26 dividend of 68.00 cents and EPS of 70.50 cents.
At the last closing share price the estimated dividend yield is 3.89%.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 24.78.

How do these forecasts compare to market consensus projections?

Current consensus EPS estimate is 69.5, implying annual growth of 10.0%.
Current consensus DPS estimate is 61.1, implying a prospective dividend yield of 3.5%.
Current consensus EPS estimate suggests the PER is 25.1.

Forecast for FY27:

Canaccord Genuity forecasts a full year FY27 dividend of 83.00 cents and EPS of 88.30 cents.
At the last closing share price the estimated dividend yield is 4.75%.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 19.78.

How do these forecasts compare to market consensus projections?

Current consensus EPS estimate is 85.2, implying annual growth of 22.6%.
Current consensus DPS estimate is 75.2, implying a prospective dividend yield of 4.3%.
Current consensus EPS estimate suggests the PER is 20.5.

Market Sentiment: 0.6
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: $5.40

Moelis rates ((PNR)) as Hold (3) –

At first glance Pantoro Gold delivered a slightly softer December quarter on production but continued to build cash, with output of 22.1koz Au below expectations and all-in-sustaining-costs rising to $2,571/oz, while the cash balance increased by around $35m q/q to $197.3m.

Moelis notes the cash build came despite elevated exploration and growth spend of around -$32m, with higher head grades at Norseman offset by slightly weaker processing throughput over the period.

Year-to-date production of 41.6koz is tracking below the bottom end of FY guidance of 100koz, implying execution risk, but the analyst believes unhedged exposure to a strong gold price and the high-grade nature of the deposit provide scope for a stronger 2H.

From a valuation perspective, the broker believes much of the near-term upside has been captured following a 21% share price rally, though notes spot gold pricing could lift its valuation materially above current levels if sustained.

This report was published on January 22, 2026.

Target price is $6.00 Current Price is $5.40 Difference: $0.6
If PNR meets the Moelis target it will return approximately 11% (excluding dividends, fees and charges).
Current consensus price target is $6.05, suggesting upside of 12.0%(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 58.00 cents.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 9.31.

How do these forecasts compare to market consensus projections?

Current consensus EPS estimate is 73.4, implying annual growth of 395.9%.
Current consensus DPS estimate is N/A, implying a prospective dividend yield of N/A.
Current consensus EPS estimate suggests the PER is 7.4.

Forecast for FY27:

Moelis forecasts a full year FY27 dividend of 0.00 cents and EPS of 41.80 cents.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 12.92.

How do these forecasts compare to market consensus projections?

Current consensus EPS estimate is 84.9, implying annual growth of 15.7%.
Current consensus DPS estimate is N/A, implying a prospective dividend yield of N/A.
Current consensus EPS estimate suggests the PER is 6.4.

Market Sentiment: 0.0
All consensus data are updated until yesterday. FNArena’s consensus calculations require a minimum of three sources

PPS    PRAEMIUM LIMITED

Wealth Management & Investments – Overnight Price: $0.79

Moelis rates ((PPS)) as Buy (1) –

Flows across Praemium’s platform were mixed in 2Q26, with Moelis highlighting a surprise beat from Powerwrap, while Spectrum delivered broadly in line and SMA flows were softer than expected.

The broker notes Spectrum remains the key medium-term growth driver, with organic net inflows of $312m excluding OneVue exits, and sees upside risk to forecasts if recent large client wins begin to translate into stronger flows from FY27.

Moelis expects group earnings to benefit from completion of the OneVue transition, delivering around $3m per annum in synergies, while Technotia Labs is viewed as a longer-term driver of innovation, automation and margin support.

Buy rating and $1.07 target price unchanged.

This report was published on January 21, 2026.

Target price is $1.07 Current Price is $0.79 Difference: $0.28
If PPS meets the Moelis target it will return approximately 35% (excluding dividends, fees and charges).
The company’s fiscal year ends in June.

Forecast for FY26:

Moelis forecasts a full year FY26 dividend of 2.40 cents and EPS of 3.60 cents.
At the last closing share price the estimated dividend yield is 3.04%.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 21.94.

Forecast for FY27:

Moelis forecasts a full year FY27 dividend of 3.00 cents and EPS of 4.40 cents.
At the last closing share price the estimated dividend yield is 3.80%.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 17.95.

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

QAN    QANTAS AIRWAYS LIMITED

Transportation & Logistics – Overnight Price: $10.34

Jarden rates ((QAN)) as Buy (1) –

International travel strength is expected to underpin Qantas Airways’ 1H26 result, with Jarden pointing to resilient yields and disciplined capacity management across long-haul routes as the key earnings support.

The broker notes domestic conditions are softer, with margins likely to moderate as capacity rebuilds and competitive pressures gradually return, though premium travel demand remains supportive.

Jarden believes balance sheet strength provides flexibility for capital management, with guidance commentary and yield trends into 2H26 expected to drive investor sentiment at the result.

No change to Buy rating and $12.70 target with the analyst retaining earnings forecasts.

This report was published on January 21, 2026.

Target price is $12.70 Current Price is $10.34 Difference: $2.36
If QAN meets the Jarden target it will return approximately 23% (excluding dividends, fees and charges).
Current consensus price target is $12.44, suggesting upside of 20.3%(ex-dividends)
The company’s fiscal year ends in June.

Forecast for FY26:

Jarden forecasts a full year FY26 dividend of 32.80 cents and EPS of 117.60 cents.
At the last closing share price the estimated dividend yield is 3.17%.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 8.79.

How do these forecasts compare to market consensus projections?

Current consensus EPS estimate is 117.5, implying annual growth of 11.7%.
Current consensus DPS estimate is 46.9, implying a prospective dividend yield of 4.5%.
Current consensus EPS estimate suggests the PER is 8.8.

Forecast for FY27:

Jarden forecasts a full year FY27 dividend of 37.40 cents and EPS of 126.80 cents.
At the last closing share price the estimated dividend yield is 3.62%.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 8.15.

How do these forecasts compare to market consensus projections?

Current consensus EPS estimate is 126.1, implying annual growth of 7.3%.
Current consensus DPS estimate is 44.5, implying a prospective dividend yield of 4.3%.
Current consensus EPS estimate suggests the PER is 8.2.

Market Sentiment: 0.8
All consensus data are updated until yesterday. FNArena’s consensus calculations require a minimum of three sources

QOR    QORIA LIMITED

Software & Services – Overnight Price: $0.36

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

Canaccord Genuity believes Qoria delivered a solid 2Q26 update, highlighting ARR growth of 23% to $154m and a weighted sales pipeline up 24%, supporting confidence in FY26 constant currency growth guidance of up 20%.

The broker notes operating momentum was offset by balance sheet pressure, with net debt expected to peak in 2H26 as quarterly cash costs of around -$35m weigh ahead of an anticipated free cash flow inflection in FY27.

Canaccord lowered its target price to $0.80 from $1.00 on forex-driven forecast revisions but retained its Buy rating, citing strong underlying growth, improving operating leverage and the prospect of sustainable free cash flow generation from FY27.

This report was published on January 20, 2026.

Target price is $0.80 Current Price is $0.36 Difference: $0.44
If QOR meets the Canaccord Genuity target it will return approximately 122% (excluding dividends, fees and charges).
Current consensus price target is $0.71, suggesting upside of 96.3%(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 2.00 cents.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is minus 18.00.

How do these forecasts compare to market consensus projections?

Current consensus EPS estimate is -1.2, 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 N/A.

Forecast for FY27:

Canaccord Genuity 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 36.00.

How do these forecasts compare to market consensus projections?

Current consensus EPS estimate is N/A, 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: 0.3
All consensus data are updated until yesterday. FNArena’s consensus calculations require a minimum of three sources

QUB    QUBE HOLDINGS LIMITED

Transportation & Logistics – Overnight Price: $4.77

Jarden rates ((QUB)) as Neutral (3) –

Potential corporate activity is expected to dominate the narrative around Qube Holdings’ 1H26 result, with Jarden noting the non-binding offer from Macquarie Asset Management ((MQG)) is likely to overshadow the underlying earnings outcome.

Operationally, the broker expects solid performance from the Operating Division, supported by strong grain volumes, improving Ports and Bulk activity, and continued strength at Patrick, which should underpin earnings delivery for the half.

Jarden believes surplus capital management could emerge as a key discussion point, with scope for distributions should the M&A process progress, while FY26 qualitative guidance is expected to remain unchanged.

No change to Neutral rating and $5 target.

This report was published on January 21, 2026.

Target price is $5.00 Current Price is $4.77 Difference: $0.23
If QUB meets the Jarden target it will return approximately 5% (excluding dividends, fees and charges).
Current consensus price target is $5.10, suggesting upside of 6.9%(ex-dividends)
The company’s fiscal year ends in June.

Forecast for FY26:

Jarden forecasts a full year FY26 dividend of 9.30 cents and EPS of 16.60 cents.
At the last closing share price the estimated dividend yield is 1.95%.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 28.73.

How do these forecasts compare to market consensus projections?

Current consensus EPS estimate is 15.9, implying annual growth of 148.4%.
Current consensus DPS estimate is 10.4, implying a prospective dividend yield of 2.2%.
Current consensus EPS estimate suggests the PER is 30.0.

Forecast for FY27:

Jarden forecasts a full year FY27 dividend of 11.30 cents and EPS of 20.10 cents.
At the last closing share price the estimated dividend yield is 2.37%.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 23.73.

How do these forecasts compare to market consensus projections?

Current consensus EPS estimate is 17.7, implying annual growth of 11.3%.
Current consensus DPS estimate is 11.3, implying a prospective dividend yield of 2.4%.
Current consensus EPS estimate suggests the PER is 26.9.

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

SS1    SUN SILVER LIMITED

Gold & Silver – Overnight Price: $2.32

Canaccord Genuity rates ((SS1)) as Speculative Buy (1) –

Sun Silver has expanded its footprint at the Maverick Springs silver-gold project in Nevada, staking an additional 427 lode claims and lifting the total landholding by 219%, which Canaccord Genuity believes meaningfully enhances long-term exploration and development optionality.

The broker notes the expanded tenure captures potential along-strike extensions of the existing 539Moz resource and provides greater flexibility for future infrastructure placement, reducing potential permitting and access constraints should the project advance.

Canaccord highlights Maverick Springs’ strategic importance has increased following silver’s inclusion on the 2025 US Critical Minerals List, alongside tightening global supply dynamics linked to recent export controls and policy changes.

A Speculative Buy rating is retained with a $4.15 target price.

This report was published on January 19, 2026.

Target price is $4.15 Current Price is $2.32 Difference: $1.83
If SS1 meets the Canaccord Genuity target it will return approximately 79% (excluding dividends, fees and charges).

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

STK    STRICKLAND METALS LIMITED

Mining – Overnight Price: $0.21

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

Canaccord Genuity notes Strickland Metals reported further wide, high-grade drill intercepts from the flagship Shanac deposit at the Rogozna Gold and base metals project in Serbia, reinforcing scale and grade continuity ahead of a planned resource update later in the MarQ26.

Canaccord Genuity comments recent results continue to demonstrate both bulk-tonnage mineralisation and higher-grade zones, confirming a vertically extensive system with favourable geological controls across the central and southern domains of Shanac.

Shanac remains the cornerstone asset within Rogozna, which hosts a reported around 8.6Moz AuEq resource, with drilling now complete and multiple assays pending that are expected to support a material resource upgrade.

Speculative Buy and 65c target.

This report was published on January 20, 2026.

Target price is $0.65 Current Price is $0.21 Difference: $0.44
If STK meets the Canaccord Genuity target it will return approximately 210% (excluding dividends, fees and charges).

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: $10.95

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

Canaccord Genuity comments Telix Pharmaceuticals reported a solid 4Q2025result, noting early evidence its two-product PSMA strategy is working, supported by improving volumes and pricing following the introduction of Gozellix.

The broker highlights 4Q25 revenue of US$208m was slightly below its forecast but ahead of consensus, with Telix benefiting from temporary pass-through payment status as the only PSMA agent in hospital outpatient settings for the next three quarters.

Canaccord retained its Buy rating and $28.50 target price, citing multiple upcoming clinical and regulatory catalysts in 2026 that could support a valuation re-rating 

This report was published on January 20, 2026.

Target price is $28.50 Current Price is $10.95 Difference: $17.55
If TLX meets the Canaccord Genuity target it will return approximately 160% (excluding dividends, fees and charges).
Current consensus price target is $27.24, suggesting upside of 148.8%(ex-dividends)
The company’s fiscal year ends in December.

Forecast for FY25:

Canaccord Genuity forecasts a full year FY25 dividend of 0.00 cents.

How do these forecasts compare to market consensus projections?

Current consensus EPS estimate is -1.6, 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:

Canaccord Genuity forecasts a full year FY26 dividend of 0.00 cents.

How do these forecasts compare to market consensus projections?

Current consensus EPS estimate is 7.4, 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 148.0.

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

VAU    VAULT MINERALS LIMITED

Gold & Silver – Overnight Price: $5.85

Canaccord Genuity rates ((VAU)) as Downgrade to Hold from Buy (3) –

Vault Minerals reported weaker DecQ2025 production and higher costs, with group gold sales of 78koz missing expectations and all-in-sustaining-costs (AISCs) rising to $3,160/oz, driven by lower grades, maintenance downtime and operational disruptions across Mt Monger, Deflector and Leonora.

Canaccord Genuity notes FY26 guidance remains unchanged, but has downgraded earnings forecasts and moved to Hold from Buy, citing the stock’s 126% share price rally over the past six months and more limited valuation upside at current levels.

The $6.45 target price remains unchanged.

This report was published on January 22, 2026.

Target price is $6.45 Current Price is $5.85 Difference: $0.6
If VAU meets the Canaccord Genuity target it will return approximately 10% (excluding dividends, fees and charges).
Current consensus price target is $7.05, suggesting upside of 20.5%(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 31.00 cents.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 18.87.

How do these forecasts compare to market consensus projections?

Current consensus EPS estimate is 51.4, implying annual growth of 126.9%.
Current consensus DPS estimate is N/A, implying a prospective dividend yield of N/A.
Current consensus EPS estimate suggests the PER is 11.4.

Forecast for FY27:

Canaccord Genuity forecasts a full year FY27 dividend of 0.00 cents and EPS of 79.00 cents.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 7.41.

How do these forecasts compare to market consensus projections?

Current consensus EPS estimate is 70.1, implying annual growth of 36.4%.
Current consensus DPS estimate is N/A, implying a prospective dividend yield of N/A.
Current consensus EPS estimate suggests the PER is 8.3.

Market Sentiment: 0.7
All consensus data are updated until yesterday. FNArena’s consensus calculations require a minimum of three sources

Moelis rates ((VAU)) as Buy (1) –

Moelis notes Vault Minerals delivered a slightly softer December quarter on production, with output of 76.5koz Au below expectations and all-in-sustaining-costs (AISC) rising to $3,160/oz, driven by lower grades at Leonora and Mount Monger, although cash increased to $536m and the balance sheet remains debt free.

Commentary highlights FY26 guidance of 332–360koz at an AISC of $2,650–2,850/oz was reiterated, with throughput expected to lift in 2H as the first stage of the Leonora plant expansion is completed, supporting a step-up in quarterly production.

The broker highlights Vault is now fully unhedged following the close-out of legacy positions, which it believes will drive a material uplift in cash flow, with excess capital increasingly likely to be returned to shareholders via buybacks or dividends.

Moelis retained its Buy rating and lifted its target price to $7.60 from $6.90.

This report was published on January 21, 2026.

Target price is $7.60 Current Price is $5.85 Difference: $1.75
If VAU meets the Moelis target it will return approximately 30% (excluding dividends, fees and charges).
Current consensus price target is $7.05, suggesting upside of 20.5%(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 19.10 cents.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 30.63.

How do these forecasts compare to market consensus projections?

Current consensus EPS estimate is 51.4, implying annual growth of 126.9%.
Current consensus DPS estimate is N/A, implying a prospective dividend yield of N/A.
Current consensus EPS estimate suggests the PER is 11.4.

Forecast for FY27:

Moelis forecasts a full year FY27 dividend of 0.00 cents and EPS of 74.80 cents.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 7.82.

How do these forecasts compare to market consensus projections?

Current consensus EPS estimate is 70.1, implying annual growth of 36.4%.
Current consensus DPS estimate is N/A, implying a prospective dividend yield of N/A.
Current consensus EPS estimate suggests the PER is 8.3.

Market Sentiment: 0.7
All consensus data are updated until yesterday. FNArena’s consensus calculations require a minimum of three sources

VGN    VIRGIN AUSTRALIA HOLDINGS LIMITED

Overnight Price: $3.25

Jarden rates ((VGN)) as Overweight (2) –

Attention is likely to centre on Virgin Australia’s operating momentum as the company approaches its 1H26 result, with Jarden viewing airline earnings delivery as the key driver of near-term share price performance.

The broker notes capacity discipline and easing fuel costs are supporting margins, while stable domestic demand and improving performance at Velocity are expected to underpin group earnings for the half.

Jarden believes outlook commentary around FY26 capacity settings and capital management will be closely watched, with the balance sheet providing flexibility.

Overweight rating retained. Target lifted to $4 from $3.90.

This report was published on January 21, 2026.

Target price is $4.00 Current Price is $3.25 Difference: $0.75
If VGN meets the Jarden target it will return approximately 23% (excluding dividends, fees and charges).
Current consensus price target is $4.00, suggesting upside of 23.1%(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 49.80 cents.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 6.53.

How do these forecasts compare to market consensus projections?

Current consensus EPS estimate is 49.5, implying annual growth of -24.3%.
Current consensus DPS estimate is N/A, implying a prospective dividend yield of N/A.
Current consensus EPS estimate suggests the PER is 6.6.

Forecast for FY27:

Jarden forecasts a full year FY27 dividend of 10.90 cents and EPS of 54.40 cents.
At the last closing share price the estimated dividend yield is 3.35%.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 5.97.

How do these forecasts compare to market consensus projections?

Current consensus EPS estimate is 53.0, implying annual growth of 7.1%.
Current consensus DPS estimate is 6.5, implying a prospective dividend yield of 2.0%.
Current consensus EPS estimate suggests the PER is 6.1.

Market Sentiment: 0.7
All consensus data are updated until yesterday. FNArena’s consensus calculations require a minimum of three sources

VUL    VULCAN ENERGY RESOURCES LIMITED

New Battery Elements – Overnight Price: $4.46

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

Vulcan Energy Resources reported successful production testing from its first new Lionheart development well in Germany, with flow rates of 105–125l/s exceeding study expectations and materially de-risking Phase 1 of the Lionheart Field Development Plan.

Canaccord Genuity believes the result reduces subsurface risk and could point to upside on both flow rates and capital efficiency, noting the first well was drilled 40% ahead of schedule and 18% under budget, with the potential for fewer wells to be required if performance is replicated.

The broker lifted its target price to $10.75 from $10.50 after increasing the Phase 1 risking to 85%, retaining its Speculative Buy rating on valuation grounds and citing further drilling results as a key catalyst as a second rig mobilises in 2H26 

This report was published on January 21, 2026.

Target price is $10.75 Current Price is $4.46 Difference: $6.29
If VUL meets the Canaccord Genuity target it will return approximately 141% (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 minus 28.12 cents.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is minus 15.86.

Forecast for FY26:

Canaccord Genuity forecasts a full year FY26 dividend of 0.00 cents and EPS of 0.00 cents.

This company reports in EUR. 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

WGX    WESTGOLD RESOURCES LIMITED

Gold & Silver – Overnight Price: $7.67

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

Canaccord Genuity comments Westgold Resources delivered a strong 2Q26 result, with group gold production of 111koz up 33% q/qand well ahead of expectations, driving underlying free cash flow of $280m despite higher all-in-sustaining-costs (AISC) of $3,500/oz.

Commentary highlights improved performance across the Murchison operations and a materially strengthened balance sheet, with cash rising to $570m and the company exiting the quarter debt free.

The broker lifted its target price to $8.35 from $8.10 and retained its Buy rating, citing sustained cash generation, unchanged FY26 guidance of 345–385koz.

This report was published on January 22, 2026.

Target price is $8.35 Current Price is $7.67 Difference: $0.68
If WGX meets the Canaccord Genuity target it will return approximately 9% (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

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