Australian Broker Call *Extra* Edition – Mar 09, 2026

Array
(
    [0] => Array
        (
            [0] => ((29M))
            [1] => ((ACE))
            [2] => ((ALC))
            [3] => ((ATA))
            [4] => ((BAP))
            [5] => ((BOE))
            [6] => ((BSL))
            [7] => ((SGH))
            [8] => ((CHI))
            [9] => ((CMM))
            [10] => ((CMM))
            [11] => ((CNI))
            [12] => ((COL))
            [13] => ((CWY))
            [14] => ((DUG))
            [15] => ((EGH))
            [16] => ((HVN))
            [17] => ((IEL))
            [18] => ((KAR))
            [19] => ((KCN))
            [20] => ((LYC))
            [21] => ((MAQ))
            [22] => ((MM1))
            [23] => ((MVF))
            [24] => ((NDO))
            [25] => ((NXT))
            [26] => ((OBM))
            [27] => ((PLS))
            [28] => ((GLN))
            [29] => ((CXO))
            [30] => ((WC8))
            [31] => ((PMT))
            [32] => ((INR))
            [33] => ((VUL))
            [34] => ((PPE))
            [35] => ((PXA))
            [36] => ((QAN))
            [37] => ((QOR))
            [38] => ((RDY))
            [39] => ((RHC))
            [40] => ((RIC))
            [41] => ((SGQ))
            [42] => ((SIQ))
            [43] => ((SNZ))
            [44] => ((SPG))
            [45] => ((VAU))
            [46] => ((WGX))
        )

    [1] => Array
        (
            [0] => 29M
            [1] => ACE
            [2] => ALC
            [3] => ATA
            [4] => BAP
            [5] => BOE
            [6] => BSL
            [7] => SGH
            [8] => CHI
            [9] => CMM
            [10] => CMM
            [11] => CNI
            [12] => COL
            [13] => CWY
            [14] => DUG
            [15] => EGH
            [16] => HVN
            [17] => IEL
            [18] => KAR
            [19] => KCN
            [20] => LYC
            [21] => MAQ
            [22] => MM1
            [23] => MVF
            [24] => NDO
            [25] => NXT
            [26] => OBM
            [27] => PLS
            [28] => GLN
            [29] => CXO
            [30] => WC8
            [31] => PMT
            [32] => INR
            [33] => VUL
            [34] => PPE
            [35] => PXA
            [36] => QAN
            [37] => QOR
            [38] => RDY
            [39] => RHC
            [40] => RIC
            [41] => SGQ
            [42] => SIQ
            [43] => SNZ
            [44] => SPG
            [45] => VAU
            [46] => WGX
        )

)

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   ALC   ATA   BAP   BOE   BSL   CHI   CMM (2)   CNI   COL   CWY   DUG   EGH   HVN   IEL   KAR   KCN   LYC   MAQ   MM1   MVF   NDO   NXT   OBM   PLS   PPE   PXA   QAN   QOR   RDY   RHC   RIC   SGQ   SIQ   SNZ   SPG   VAU   WGX  

29M    29METALS LIMITED

Copper – Overnight Price: $0.39

Jarden rates ((29M)) as Underweight (4) –

29Metals delivered a better-than-forecast 2025 result, Jarden notes. The result was boosted by stockpile movements (which were taken as a credit against operating costs) and FX gains.

Remove the ongoing impact of the extreme weather event at Capricorn Copper and other items in calculating underlying profit still arrives at a better-than-expected result. Cash flow was, however, weaker than Jarden forecast.

The broker incorporates the incremental 2026 guidance, acknowledges the reduced zinc grades in Golden Grove Resources, and updates commodity prices and FX rates for the latest valuation. Target falls to 35c from 37c, Underweight retained.

This report was published on February 28, 2026.

Target price is $0.35 Current Price is $0.39 Difference: minus $0.035 (current price is over target).
If 29M meets the Jarden target it will return approximately minus 9% (excluding dividends, fees and charges – negative figures indicate an expected loss).
The company’s fiscal year ends in December.

Forecast for FY26:

Jarden 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 16.04.

Forecast for FY27:

Jarden forecasts a full year FY27 dividend of 0.00 cents and EPS of 2.30 cents.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 16.74.

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

ACE    ACUSENSUS LIMITED

Transportation & Logistics – Overnight Price: $1.61

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

Acusensus delivered a first half result that was in line with estimates and reiterated FY26 guidance for revenue to increase 40-46% to $83-87m.

The company is investing, increasing its “innovation activities” to $4m with operating and capital expenditure stepping up to -$22m, announcing the expansion of its multifunction fixed enforcement contract in Western Australia with incremental value of $11m to the original contract worth $9m.

Canaccord Genuity asserts the business has a bespoke, proprietary and industry-specific AI model that should provide significant protection against potential competitor-driven disruption. Buy rating unchanged. Target rises to $2.50 from $2.30.

This report was published on February 26, 2026.

Target price is $2.50 Current Price is $1.61 Difference: $0.89
If ACE meets the Canaccord Genuity target it will return approximately 55% (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.

Forecast for FY27:

Canaccord Genuity forecasts a full year FY27 dividend of 0.00 cents.

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

ALC    ALCIDION GROUP LIMITED

Healthcare services – Overnight Price: $0.10

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

Further to the first half results, Canaccord Genuity maintains a Buy rating and increases its target to $0.14 from $0.13, noting Alcidion Group’s earnings quality is improving as revenue builds and the mix shifts towards more predictable recurring revenue.

Revenue is still expected to remain “lumpy” given the timing of the UK NHS EPR. FY26 guidance has been reaffirmed for revenue of more than $50m and EBITDA of more than $5m.

This report was published on February 27, 2026.

Target price is $0.14 Current Price is $0.10 Difference: $0.04
If ALC meets the Canaccord Genuity target it will return approximately 40% (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 0.20 cents.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 50.00.

Forecast for FY27:

Canaccord Genuity forecasts a full year FY27 dividend of 0.00 cents and EPS of 0.20 cents.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 50.00.

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

ATA    ATTURRA LIMITED

Software & Services – Overnight Price: $0.57

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

Atturra posted a first half result that was mainly in keeping with Canaccord Genuity’s expectations. The sudden contract loss in December, which management believes was a wrongful termination, was disappointing yet the broker is pleased that the majority of the impact was a one-off hit to profitability.

The company has implemented a change in internal policies to prevent future exposure to sudden terminations by capping work-in-progress before payment at $2m without board approval.

The broker believes the stock is undervalued at current prices and maintains a Buy rating and target of $1.05.

This report was published on February 26, 2026.

Target price is $1.05 Current Price is $0.57 Difference: $0.475
If ATA meets the Canaccord Genuity target it will return approximately 83% (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 3.00 cents.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 19.17.

Forecast for FY27:

Canaccord Genuity forecasts a full year FY27 dividend of 0.00 cents and EPS of 6.00 cents.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 9.58.

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

BAP    BAPCOR LIMITED

Automobiles & Components – Overnight Price: $0.81

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

Bapcor reported net profit fell -89.4% to $5.5m, in line with prior downgraded guidance.

This does not matter, Canaccord Genuity asserts. What now matters is whether the company delivers FY26 downgraded guidance of $150-160m in AASB916 EBITDA and whether enough capital has been raised to reduce debt sufficiently.

Importantly, it matters if investors believe new management can turn the operation around and to what extent, the broker adds, noting this is the third management team since the board changed the strategic direction of the business and the CEO retired.

The company still enjoys the ownership of predominantly “privileged” assets and, Canaccord Genuity assesses, has the foundation of a good business.

The broker places its rating and target on review.

This report was published on February 27, 2026.

Current Price is $0.81. Target price not assessed.
Current consensus price target is $1.19, suggesting upside of 46.4%(ex-dividends)
The company’s fiscal year ends in June.

Forecast for FY26:

Canaccord Genuity forecasts a full year FY26 dividend of 0.00 cents and EPS of 3.00 cents.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 27.00.

How do these forecasts compare to market consensus projections?

Current consensus EPS estimate is 6.9, implying annual growth of 14.8%.
Current consensus DPS estimate is 3.8, implying a prospective dividend yield of 4.7%.
Current consensus EPS estimate suggests the PER is 11.7.

Forecast for FY27:

Canaccord Genuity forecasts a full year FY27 dividend of 2.00 cents and EPS of 5.00 cents.
At the last closing share price the estimated dividend yield is 2.47%.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 16.20.

How do these forecasts compare to market consensus projections?

Current consensus EPS estimate is 11.1, implying annual growth of 60.9%.
Current consensus DPS estimate is 6.9, implying a prospective dividend yield of 8.5%.
Current consensus EPS estimate suggests the PER is 7.3.

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

BOE    BOSS ENERGY LIMITED

Uranium – Overnight Price: $1.62

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

Boss Energy provided a first half result that was largely in line with expectations and attention is on the upcoming scoping study, Canaccord Genuity observes.

Importantly, cash has closed $16m higher in the half year, leaving the company with strong liquidity as it faces wellfield and resource appraisal.

The broker considers price will be the ultimate enabler for the business with the uranium term price currently reported at US$90/lb.

Canaccord Genuity is also encouraged by large offtake contracts following a highly active December quarter. Speculative Buy rating and $2.80 target maintained.

This report was published on February 27, 2026.

Target price is $2.80 Current Price is $1.62 Difference: $1.18
If BOE meets the Canaccord Genuity target it will return approximately 73% (excluding dividends, fees and charges).
Current consensus price target is $1.60, suggesting downside of -1.2%(ex-dividends)

Forecast for FY26:

Current consensus EPS estimate is 10.2, 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 15.9.

Forecast for FY27:

Current consensus EPS estimate is 20.2, implying annual growth of 98.0%.
Current consensus DPS estimate is N/A, implying a prospective dividend yield of N/A.
Current consensus EPS estimate suggests the PER is 8.0.

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

BSL    BLUESCOPE STEEL LIMITED

Steel & Scrap – Overnight Price: $27.08

Jarden rates ((BSL)) as Neutral (3) –

The BlueScope Steel board “remains open to a transaction” with SGH ((SGH))/Steel Dynamics but considers the revised proposal insufficient on both price and process grounds, outlining the conditions on which it would be prepared to engage further.

Whilst BlueScope Steel’s board has now indicated willingness to engage with the consortium under certain conditions, seemingly material differences in views on valuation amidst the consortium’s ‘best and final’ offer stance continue to cloud prospects of a successful transaction, Jarden suggests.

Target falls back to $28.50 from $30.00, Neutral retained.

This report was published on February 26, 2026.

Target price is $28.50 Current Price is $27.08 Difference: $1.42
If BSL meets the Jarden target it will return approximately 5% (excluding dividends, fees and charges).
Current consensus price target is $30.43, suggesting upside of 12.4%(ex-dividends)
The company’s fiscal year ends in June.

Forecast for FY26:

Jarden forecasts a full year FY26 dividend of 130.00 cents and EPS of 195.00 cents.
At the last closing share price the estimated dividend yield is 4.80%.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 13.89.

How do these forecasts compare to market consensus projections?

Current consensus EPS estimate is 180.0, implying annual growth of 842.9%.
Current consensus DPS estimate is 95.0, implying a prospective dividend yield of 3.5%.
Current consensus EPS estimate suggests the PER is 15.0.

Forecast for FY27:

Jarden forecasts a full year FY27 dividend of 130.00 cents and EPS of 187.60 cents.
At the last closing share price the estimated dividend yield is 4.80%.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 14.43.

How do these forecasts compare to market consensus projections?

Current consensus EPS estimate is 198.3, implying annual growth of 10.2%.
Current consensus DPS estimate is 95.0, implying a prospective dividend yield of 3.5%.
Current consensus EPS estimate suggests the PER is 13.7.

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

CHI    CHANNEL INFRASTRUCTURE NZ LIMITED

Overnight Price: $2.50

Jarden rates ((CHI)) as Underweight (4) –

Channel Infrastructure NZ reported 2025 earnings in line with consensus, albeit a better quality result below the headline, with a 3.7% uplift year on year after excluding final legacy Wiri lease contributions, Jarden notes.

The upper end of guidance would have been beaten but for -$1m of one-off ASX-listing expenses. Good cashflow conversion saw a 6.75cps final dividend declared.

Operating costs appear well-managed, despite one-off pressures, Jarden suggests, and maiden 2026 guidance appears slightly conservative. Underweight retained, reflecting an assessment of the negatively skewed risk/reward ratio at current trading levels.

Target rises to NZ$2.50 from NZ$2.49.

This report was published on February 27, 2026.

Current Price is $2.50. Target price not assessed.
The company’s fiscal year ends in December.

Forecast for FY26:

Jarden forecasts a full year FY26 dividend of 13.40 cents and EPS of 5.50 cents.
At the last closing share price the estimated dividend yield is 5.36%.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 45.45.

Forecast for FY27:

Jarden forecasts a full year FY27 dividend of 16.70 cents and EPS of 8.00 cents.
At the last closing share price the estimated dividend yield is 6.68%.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 31.25.

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

CMM    CAPRICORN METALS LIMITED

Gold & Silver – Overnight Price: $13.39

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

Capricorn Metals provided a first half underlying EBITDA result of $250m that was in line with Canaccord Genuity’s estimates.

A maiden fully franked dividend of five cents was unexpected, the company noting a strong operating performance and high gold prices allowed it to build cash to a level enabling dividends to start.

The business finished the first half with cash and bullion of $457m and no debt. FY26 production guidance has been reiterated for the upper end of 115-125,000 ounces at AISC of $1530-1630/oz. Buy rating retained. Target is steady at $17.95.

This report was published on February 26, 2026.

Target price is $17.95 Current Price is $13.39 Difference: $4.56
If CMM meets the Canaccord Genuity target it will return approximately 34% (excluding dividends, fees and charges).
Current consensus price target is $18.77, suggesting upside of 40.2%(ex-dividends)

Forecast for FY26:

Current consensus EPS estimate is 75.9, implying annual growth of 104.7%.
Current consensus DPS estimate is 7.5, implying a prospective dividend yield of 0.6%.
Current consensus EPS estimate suggests the PER is 17.6.

Forecast for FY27:

Current consensus EPS estimate is 95.6, implying annual growth of 26.0%.
Current consensus DPS estimate is 10.0, implying a prospective dividend yield of 0.7%.
Current consensus EPS estimate suggests the PER is 14.0.

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

Jarden rates ((CMM)) as Neutral (3) –

Key takeaways for Jarden from Capricorn Metals’ result were a net cash balance of $432m and a fully franked maiden dividend of 5c, a clear show of confidence from board and management on near-term business conditions and the ability to organically fund growth projects.

Capricorn remains a preferred gold exposure – Jarden respects the two long-life assets and growth profile offered by Mt Gibson. The dividend further boosts the investment proposition, however the broker continues to advocate for greater financial disclosure and transparency.

Neutral and $11.00 target retained.

This report was published on February 27, 2026.

Target price is $11.00 Current Price is $13.39 Difference: minus $2.39 (current price is over target).
If CMM meets the Jarden target it will return approximately minus 18% (excluding dividends, fees and charges – negative figures indicate an expected loss).
Current consensus price target is $18.77, suggesting upside of 40.2%(ex-dividends)
The company’s fiscal year ends in June.

Forecast for FY26:

Jarden forecasts a full year FY26 dividend of 12.00 cents and EPS of 74.10 cents.
At the last closing share price the estimated dividend yield is 0.90%.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 18.07.

How do these forecasts compare to market consensus projections?

Current consensus EPS estimate is 75.9, implying annual growth of 104.7%.
Current consensus DPS estimate is 7.5, implying a prospective dividend yield of 0.6%.
Current consensus EPS estimate suggests the PER is 17.6.

Forecast for FY27:

Jarden forecasts a full year FY27 dividend of 13.00 cents and EPS of 75.60 cents.
At the last closing share price the estimated dividend yield is 0.97%.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 17.71.

How do these forecasts compare to market consensus projections?

Current consensus EPS estimate is 95.6, implying annual growth of 26.0%.
Current consensus DPS estimate is 10.0, implying a prospective dividend yield of 0.7%.
Current consensus EPS estimate suggests the PER is 14.0.

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

CNI    CENTURIA CAPITAL GROUP

Diversified Financials – Overnight Price: $1.81

Jarden rates ((CNI)) as Neutral (3) –

Centuria Capital delivered 1H26 funds from operations of 6.6cps, 1% ahead consensus. FY26 FFO guidance was increased by 1.0% to 13.6cps while the FY26 dividend was left unchanged at 10.4c.

Centuria has solid near-term growth prospects through FY26 supported by Property Funds Management earnings, Jarden suggests.

Management has done well to grow earnings guidance despite the headwind of higher debt costs and a larger than expected loss from Sovereign AI.

If the company can demonstrate data centre leasing, improvements in Bass and core real estate concurrently, Jarden can see a scenario in which very strong growth could emerge, however experience to date suggests the businesses are somewhat uncorrelated.

Target falls to $2.18 from $2.40, Neutral retained.

This report was published on February 26, 2026.

Target price is $2.18 Current Price is $1.81 Difference: $0.37
If CNI meets the Jarden target it will return approximately 20% (excluding dividends, fees and charges).
Current consensus price target is $2.13, suggesting upside of 17.6%(ex-dividends)
The company’s fiscal year ends in June.

Forecast for FY26:

Jarden forecasts a full year FY26 dividend of 10.40 cents and EPS of 13.60 cents.
At the last closing share price the estimated dividend yield is 5.75%.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 13.31.

How do these forecasts compare to market consensus projections?

Current consensus EPS estimate is 13.4, implying annual growth of 34.4%.
Current consensus DPS estimate is 10.0, implying a prospective dividend yield of 5.5%.
Current consensus EPS estimate suggests the PER is 13.5.

Forecast for FY27:

Jarden forecasts a full year FY27 dividend of 10.60 cents and EPS of 14.20 cents.
At the last closing share price the estimated dividend yield is 5.86%.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 12.75.

How do these forecasts compare to market consensus projections?

Current consensus EPS estimate is 14.2, implying annual growth of 6.0%.
Current consensus DPS estimate is 10.3, implying a prospective dividend yield of 5.7%.
Current consensus EPS estimate suggests the PER is 12.7.

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

COL    COLES GROUP LIMITED

Food, Beverages & Tobacco – Overnight Price: $21.15

Jarden rates ((COL)) as Upgrade to Overweight from Neutral (2) –

Coles Group’s 1H26 result was in line, with earnings 3% ahead of Jarden, with cash-realisation up, margins up, and progress on key strategic initiatives. The focus, however, was on the outlook, with the sustainability of margin in question.

There was also a weaker trading update. Jarden’s industry discussions suggest Coles is still gaining share, with exit rates stronger, improving trends in non-food and growth in online supportive of a strong second half. The key risk the broker sees is liquor.

Upgrade to Overweight from Neutral, target falls to $21.60 from $23.00.

This report was published on February 27, 2026.

Target price is $21.60 Current Price is $21.15 Difference: $0.45
If COL meets the Jarden target it will return approximately 2% (excluding dividends, fees and charges).
Current consensus price target is $23.41, suggesting upside of 10.7%(ex-dividends)
The company’s fiscal year ends in June.

Forecast for FY26:

Jarden forecasts a full year FY26 dividend of 78.00 cents and EPS of 93.70 cents.
At the last closing share price the estimated dividend yield is 3.69%.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 22.57.

How do these forecasts compare to market consensus projections?

Current consensus EPS estimate is 93.8, implying annual growth of 16.1%.
Current consensus DPS estimate is 79.1, implying a prospective dividend yield of 3.7%.
Current consensus EPS estimate suggests the PER is 22.5.

Forecast for FY27:

Jarden forecasts a full year FY27 dividend of 86.00 cents and EPS of 103.00 cents.
At the last closing share price the estimated dividend yield is 4.07%.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 20.53.

How do these forecasts compare to market consensus projections?

Current consensus EPS estimate is 102.3, implying annual growth of 9.1%.
Current consensus DPS estimate is 85.8, implying a prospective dividend yield of 4.1%.
Current consensus EPS estimate suggests the PER is 20.7.

Market Sentiment: 0.9
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: $2.54

Jarden rates ((CWY)) as Upgrade to Buy from Overweight (1) –

Cleanaway Waste Management delivered 1H26 underlying earnings 2.8% ahead of consensus. Importantly, notes Jarden, and for the first time in some time, this equated to stronger core profit and earnings, which were also ahead of consensus.

Positively for the broker, Solid Waste operating performance was strong. On the opposite side, free cash flow generation softened compared to 1H25, earnings cash conversion was soft and ‘one-offs’ once again featured prominently in the disclosure materials.

Commentary highlights Cleanaway’s earnings guidance has consistently been for a 2H26 skew.

Solid Waste will likely remain strong, Jarden suggests, Health Services should recover, Contract Resources is reportedly delivering ahead of expectations and the safety investment required is within the -$400m capex guidance.

Upgrade to Buy from Overweight. Target rises to $3.10 from $3.00.

This report was published on February 27, 2026.

Target price is $3.10 Current Price is $2.54 Difference: $0.56
If CWY meets the Jarden target it will return approximately 22% (excluding dividends, fees and charges).
Current consensus price target is $3.11, suggesting upside of 22.6%(ex-dividends)
The company’s fiscal year ends in June.

Forecast for FY26:

Jarden forecasts a full year FY26 dividend of 6.10 cents and EPS of 10.70 cents.
At the last closing share price the estimated dividend yield is 2.40%.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 23.74.

How do these forecasts compare to market consensus projections?

Current consensus EPS estimate is 10.5, implying annual growth of 49.4%.
Current consensus DPS estimate is 7.2, implying a prospective dividend yield of 2.8%.
Current consensus EPS estimate suggests the PER is 24.2.

Forecast for FY27:

Jarden forecasts a full year FY27 dividend of 8.60 cents and EPS of 12.50 cents.
At the last closing share price the estimated dividend yield is 3.39%.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 20.32.

How do these forecasts compare to market consensus projections?

Current consensus EPS estimate is 12.6, implying annual growth of 20.0%.
Current consensus DPS estimate is 8.5, implying a prospective dividend yield of 3.3%.
Current consensus EPS estimate suggests the PER is 20.2.

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

DUG    DUG TECHNOLOGY LIMITED

Cloud services – Overnight Price: $2.02

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

Dug Technology performed well ahead of expectations in the first half with Canaccord Genuity noting stronger services conversion and contributions from the EPIC contract commencing earlier than previously expected.

The company has outlined its pipeline of work which the broker understands is increasingly weighted towards MP-FWI work.

Commentary suggests material catalysts exist with growth in new regions such as the Middle East and Brazil. Buy rating unchanged. Target is raised to $3.00 from $2.90.

This report was published on February 26, 2026.

Target price is $3.00 Current Price is $2.02 Difference: $0.98
If DUG meets the Canaccord Genuity target it will return approximately 49% (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.

Forecast for FY27:

Canaccord Genuity forecasts a full year FY27 dividend of 0.00 cents.

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

EGH    EUREKA GROUP HOLDINGS LIMITED

Aged Care & Seniors – Overnight Price: $0.53

Moelis rates ((EGH)) as Buy (1) –

First-half underlying earnings of 1.44c for Eureka Group fell -8% on the prior year. Moelis explains this fall reflects the impact of the November 2024 equity raise, the timing of capital deployment and repositioning of newly acquired assets.

FY26 guidance was maintained at 3.37-3.44c, implying to the broker a stronger H2 as new acquisitions stabilise and contribute for a full period.

The analysts highlight like-for-like rental growth of 5.7% in the seniors rental portfolio with an earnings (EBITDA) margin of 55%, while loan-to-value rose to 33.5% following recent acquisitions.

A development pipeline of around 830 sites is noted along with ongoing acquisition opportunities supporting future growth.

Buy rating and $0.69 target reiterated.

This report was published on March 2, 2026.

Target price is $0.69 Current Price is $0.53 Difference: $0.165
If EGH meets the Moelis target it will return approximately 31% (excluding dividends, fees and charges).
The company’s fiscal year ends in June.

Forecast for FY26:

Moelis forecasts a full year FY26 dividend of 1.60 cents and EPS of 3.40 cents.
At the last closing share price the estimated dividend yield is 3.05%.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 15.44.

Forecast for FY27:

Moelis forecasts a full year FY27 dividend of 1.90 cents and EPS of 4.00 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 13.13.

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

HVN    HARVEY NORMAN HOLDINGS LIMITED

Consumer Electronics – Overnight Price: $5.46

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

Harvey Norman’s 1H26 result, while strong, was below Jarden’s expectations as Australian sales slowed materially into Christmas to be flat at best. This, combined with higher D&A and lower property earnings, drove a -2% earnings miss, with cash flow also weaker.

Trends have improved into 2H26, Jarden suggests, with a number of catalysts into 2H26, notably inflation (memory price increases), the replacement cycle (AI) and International performing well.

Jarden believes Harvey Norman should be best positioned to execute on new tech in the market based on past performance. Signs of improving share will be a key focus. Target falls to $6.60 from $7.60, Overweight retained.

This report was published on February 28, 2026.

Target price is $6.60 Current Price is $5.46 Difference: $1.14
If HVN meets the Jarden target it will return approximately 21% (excluding dividends, fees and charges).
Current consensus price target is $6.91, suggesting upside of 26.5%(ex-dividends)
The company’s fiscal year ends in June.

Forecast for FY26:

Jarden forecasts a full year FY26 dividend of 26.00 cents and EPS of 37.50 cents.
At the last closing share price the estimated dividend yield is 4.76%.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 14.56.

How do these forecasts compare to market consensus projections?

Current consensus EPS estimate is 38.6, implying annual growth of -7.1%.
Current consensus DPS estimate is 29.5, implying a prospective dividend yield of 5.4%.
Current consensus EPS estimate suggests the PER is 14.1.

Forecast for FY27:

Jarden forecasts a full year FY27 dividend of 29.00 cents and EPS of 42.90 cents.
At the last closing share price the estimated dividend yield is 5.31%.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 12.73.

How do these forecasts compare to market consensus projections?

Current consensus EPS estimate is 41.7, implying annual growth of 8.0%.
Current consensus DPS estimate is 32.4, implying a prospective dividend yield of 5.9%.
Current consensus EPS estimate suggests the PER is 13.1.

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

IEL    IDP EDUCATION LIMITED

Education & Tuition – Overnight Price: $4.64

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

After consistent earnings downgrades over the past couple of years, it is a welcome sight to see IDP Education’s FY26 guidance upgraded 4% at the midpoint, Jarden comments.

However, guidance implies a -25% downgrade to previous 2H26 earnings assumptions.

Jarden remains cautious on the wider volumes recovery, with momentum in the UK and Canada worse than anticipated.

The broker does expect volumes to recover in the long term, with further upside possible if the company is able to execute in China, New Zealand and Ireland.

Target falls to $6.00 from $6.40, Overweight retained.

This report was published on February 27, 2026.

Target price is $6.00 Current Price is $4.64 Difference: $1.36
If IEL meets the Jarden target it will return approximately 29% (excluding dividends, fees and charges).
Current consensus price target is $6.12, suggesting upside of 31.8%(ex-dividends)
The company’s fiscal year ends in June.

Forecast for FY26:

Jarden forecasts a full year FY26 dividend of 4.50 cents and EPS of 25.40 cents.
At the last closing share price the estimated dividend yield is 0.97%.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 18.27.

How do these forecasts compare to market consensus projections?

Current consensus EPS estimate is 23.7, implying annual growth of 48.2%.
Current consensus DPS estimate is 5.3, implying a prospective dividend yield of 1.1%.
Current consensus EPS estimate suggests the PER is 19.6.

Forecast for FY27:

Jarden forecasts a full year FY27 dividend of 5.30 cents and EPS of 29.50 cents.
At the last closing share price the estimated dividend yield is 1.14%.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 15.73.

How do these forecasts compare to market consensus projections?

Current consensus EPS estimate is 30.4, implying annual growth of 28.3%.
Current consensus DPS estimate is 12.1, implying a prospective dividend yield of 2.6%.
Current consensus EPS estimate suggests the PER is 15.3.

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

KAR    KAROON ENERGY LIMITED

Crude Oil – Overnight Price: $1.81

Jarden rates ((KAR)) as Downgrade to Neutral from Overweight (3) –

While Karoon Energy’s result beat consensus earnings and dividend estimates, most of the incremental asset updates were neutral to negative, Jarden notes. While 2026 production guidance was left unchanged, production issues at Who Dat will impact forecast output in 2026.

As Karoon enters into a critical six-month period in Brazil, the company has announced it will moderate its buyback. Jarden turns similarly cautious and downgrades to Neutral from Overweight with a revised $1.57 target, down from $1.75, on lower Brazil and risked Neon values.

This report was published on February 27, 2026.

Target price is $1.57 Current Price is $1.81 Difference: minus $0.245 (current price is over target).
If KAR meets the Jarden target it will return approximately minus 13% (excluding dividends, fees and charges – negative figures indicate an expected loss).
Current consensus price target is $1.90, suggesting upside of 4.5%(ex-dividends)
The company’s fiscal year ends in December.

Forecast for FY26:

Jarden forecasts a full year FY26 dividend of 4.87 cents and EPS of 18.73 cents.
At the last closing share price the estimated dividend yield is 2.68%.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 9.69.

How do these forecasts compare to market consensus projections?

Current consensus EPS estimate is 13.0, implying annual growth of N/A.
Current consensus DPS estimate is 4.0, implying a prospective dividend yield of 2.2%.
Current consensus EPS estimate suggests the PER is 14.0.

Forecast for FY27:

Jarden forecasts a full year FY27 dividend of 4.87 cents and EPS of 18.58 cents.
At the last closing share price the estimated dividend yield is 2.68%.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 9.77.

How do these forecasts compare to market consensus projections?

Current consensus EPS estimate is 18.4, implying annual growth of 41.5%.
Current consensus DPS estimate is 3.4, implying a prospective dividend yield of 1.9%.
Current consensus EPS estimate suggests the PER is 9.9.

This company reports in USD. All estimates have been converted into AUD by FNArena at present FX values.
Market Sentiment: 0.2
All consensus data are updated until yesterday. FNArena’s consensus calculations require a minimum of three sources

KCN    KINGSGATE CONSOLIDATED LIMITED

Gold & Silver – Overnight Price: $6.70

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

Kingsgate Consolidated reported earnings that were slightly ahead of Canaccord Genuity’s estimates.

An unfranked interim dividend of $0.10 has been declared, which the broker notes makes the business one of the few intermediate producers offering yield, this being the first dividend since 2013.

Canaccord Genuity highlights the potential for continued capital returns and retains a Buy rating and $9.30 target.

This report was published on February 26, 2026.

Target price is $9.30 Current Price is $6.70 Difference: $2.6
If KCN meets the Canaccord Genuity target it will return approximately 39% (excluding dividends, fees and charges).

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

LYC    LYNAS RARE EARTHS LIMITED

Rare Earth Minerals – Overnight Price: $18.33

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

Lynas Rare Earths delivered EBITDA of $152m in the first half that was largely in line with Canaccord Genuity’s estimates. No production guidance was provided as usual.

Closing cash of $1.03bn, reported in the December quarter has been earmarked for growth projects including the expansion at Mount Weld, expansion of separation capacity in Malaysia and downstream initiatives.

The broker lifts its neodymium Pr price assumptions over FY26-31 by 7% to an average of US$116/kg, with FY27 increasing 16% to average US$128/kg. Buy rating reiterated. Target rises to $18.60 from $18.10.

This report was published on February 26, 2026.

Target price is $18.60 Current Price is $18.33 Difference: $0.27
If LYC meets the Canaccord Genuity target it will return approximately 1% (excluding dividends, fees and charges).
Current consensus price target is $14.83, suggesting downside of -19.1%(ex-dividends)
The company’s fiscal year ends in June.

Forecast for FY26:

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

How do these forecasts compare to market consensus projections?

Current consensus EPS estimate is 32.0, implying annual growth of 3664.7%.
Current consensus DPS estimate is N/A, implying a prospective dividend yield of N/A.
Current consensus EPS estimate suggests the PER is 57.3.

Forecast for FY27:

Canaccord Genuity forecasts a full year FY27 dividend of 0.00 cents.

How do these forecasts compare to market consensus projections?

Current consensus EPS estimate is 64.7, implying annual growth of 102.2%.
Current consensus DPS estimate is N/A, implying a prospective dividend yield of N/A.
Current consensus EPS estimate suggests the PER is 28.3.

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

MAQ    MACQUARIE TECHNOLOGY GROUP LIMITED

Cloud services – Overnight Price: $63.01

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

First-half revenue for Macquarie Technology rose 5% on the prior year, while earnings (EBITDA) of $57.9m came in 3% ahead of Canaccord Genuity’s $56.1m forecast and 2% above the consensus estimate.

The broker notes Telecom revenue fell -8% with earnings down -19%, though stronger double-digit growth in Cloud Services & Government and Data Centres more than offset the weakness.

FY26 earnings guidance of $114-$117m implies to the analyst a modest upgrade to market expectations, with higher contributions expected from the company’s higher-valued segments.

Construction of the IC3 Super West data centre remains on schedule and on budget for a September quarter opening.

Canaccord reiterates a Buy rating on Macquarie Technology with its target price unchanged at $95.

This report was published on February 27, 2026.

Target price is $95.00 Current Price is $63.01 Difference: $31.99
If MAQ meets the Canaccord Genuity target it will return approximately 51% (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.

Forecast for FY27:

Canaccord Genuity forecasts a full year FY27 dividend of 0.00 cents.

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

MM1    MIDAS MINERALS LIMITED

Copper – Overnight Price: $0.90

Canaccord Genuity rates ((MM1)) as Speculative Buy (1) –

Canaccord Genuity reiterates a Speculative Buy rating on Midas Minerals with its target price unchanged at $1.35 following further drilling results at the Spaatzu prospect within the Otavi Copper Project in Namibia.

The broker highlights strong shallow copper-silver intercepts including 26m at 1.37% copper and 31.1g/t silver and 18m at 1.10% copper and 26.5g/t silver, reinforcing the scale potential of the discovery.

Drilling has so far tested around 1km of strike with assays pending from more than 40 additional holes, explain the analysts, while the broader geochemical anomaly extends over 2.5km.

Further commentary highlights mineralisation includes both oxide and sulphide copper, adding exploration potential. 

This report was published on February 26, 2026.

Target price is $1.35 Current Price is $0.90 Difference: $0.45
If MM1 meets the Canaccord Genuity target it will return approximately 50% (excluding dividends, fees and charges).

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

MVF    MONASH IVF GROUP LIMITED

Healthcare services – Overnight Price: $0.66

Canaccord Genuity rates ((MVF)) as Hold (3) –

Monash IVF provided a first half result that was ahead of estimates. Cannacord Genuity was particularly surprised by the beat to revenue given the market share loss, and hopes that going forward the company will regain control of market share.

There was not enough evidence in the results for the broker to be convinced that the competitive position has improved, nor for industry demand to show more resilience.

Lingering doubts about the IVF sector’s intrinsic value keep Cannacord Genuity from being more constructive and a Hold rating is retained. Target rises to 69c from 65c.

Monash IVF’s interim profit of $10.4m represented a fall of -34% on the prior year but came in ahead of the broker’s $9.7m forecast and the consensus estimate of $10.1m.

Australian assisted reproductive services revenue of $138m beat the broker’s $127m estimate despite volumes falling -12%, with stronger revenue per cycle supported by pricing and genetics.

International revenue grew 14% though earnings (EBITDA) contribution was flat, indicating weaker margins.

FY26 profit guidance of around $20m is maintained, broadly in line with the consensus estimate but above the broker’s forecast.

This report was published on February 27, 2026.

Target price is $0.69 Current Price is $0.66 Difference: $0.03
If MVF meets the Canaccord Genuity target it will return approximately 5% (excluding dividends, fees and charges).
Current consensus price target is $0.84, suggesting upside of 27.3%(ex-dividends)
The company’s fiscal year ends in June.

Forecast for FY26:

Canaccord Genuity forecasts a full year FY26 dividend of 3.00 cents and EPS of 5.00 cents.
At the last closing share price the estimated dividend yield is 4.55%.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 13.20.

How do these forecasts compare to market consensus projections?

Current consensus EPS estimate is 5.0, implying annual growth of -22.1%.
Current consensus DPS estimate is 2.7, implying a prospective dividend yield of 4.1%.
Current consensus EPS estimate suggests the PER is 13.2.

Forecast for FY27:

Canaccord Genuity forecasts a full year FY27 dividend of 4.00 cents and EPS of 5.00 cents.
At the last closing share price the estimated dividend yield is 6.06%.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 13.20.

How do these forecasts compare to market consensus projections?

Current consensus EPS estimate is 5.5, implying annual growth of 10.0%.
Current consensus DPS estimate is 3.1, implying a prospective dividend yield of 4.7%.
Current consensus EPS estimate suggests the PER is 12.0.

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

NDO    NIDO EDUCATION LIMITED

Childcare – Overnight Price: $0.47

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

Further to the 2025 results from Nido Education, Canaccord Genuity is of the view the first half of 2026 will be the most challenging period for childcare operations while the second half should show an improvement in earnings/occupancy.

The broker believes the company’s operating model will come to the fore as the outlook slowly improves, which suggests patient investors could be rewarded over the next 12-18 months.

Commentay identified the highlights of the 2025 result as the final dividend of 2.2 cents and guidance for roughly 20% EBITDA growth in 2026. Buy rating unchanged. Target is reduced to $0.73 from $0.81.

This report was published on February 26, 2026.

Target price is $0.73 Current Price is $0.47 Difference: $0.26
If NDO meets the Canaccord Genuity target it will return approximately 55% (excluding dividends, fees and charges).
The company’s fiscal year ends in December.

Forecast for FY26:

Canaccord Genuity forecasts a full year FY26 dividend of 4.00 cents.
At the last closing share price the estimated dividend yield is 8.51%.

Forecast for FY27:

Canaccord Genuity forecasts a full year FY27 dividend of 4.00 cents.
At the last closing share price the estimated dividend yield is 8.51%.

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

NXT    NEXTDC LIMITED

Cloud services – Overnight Price: $13.69

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

NextDC provided an updated forward order book in the first half results which Canaccord Genuity notes caused a positive response in the share price.

Further to the first half results, the broker believes the market is very focused on the funding position with the business retaining plenty of options for future projects.

The new ramp up spurs a material upgrade to the broker’s FY28 forecasts, but the target is lowered to $20.40 from $22.55 largely because of a capital expenditure commitment to bring the order book up to billing.

Canaccord Genuity’s valuation is based on estimates of aggregate EBITDA when the current contracted capacity is at full billing, calculated to be more than $700m on a full billing 415MW contract book. Buy rating maintained.

This report was published on February 26, 2026.

Target price is $20.40 Current Price is $13.69 Difference: $6.71
If NXT meets the Canaccord Genuity target it will return approximately 49% (excluding dividends, fees and charges).
Current consensus price target is $20.73, suggesting upside of 51.4%(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.

How do these forecasts compare to market consensus projections?

Current consensus EPS estimate is -17.6, 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 FY27:

Canaccord Genuity forecasts a full year FY27 dividend of 0.00 cents.

How do these forecasts compare to market consensus projections?

Current consensus EPS estimate is -23.6, 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.

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

OBM    ORA BANDA MINING LIMITED

Gold & Silver – Overnight Price: $1.32

Moelis rates ((OBM)) as Hold (3) –

Interim revenue for Ora Banda Mining of $350.4m missed Moelis’ $357.8m forecast, while earnings (EBITDA) of $187.2m exceeded the $178.2m estimate.

The stronger earnings result was largely driven by lower expensed exploration, explains the analyst. More than 80% of the company’s circa -$37m exploration spend was capitalised, reducing costs in the profit and loss statement.

Management has secured put options covering around 233koz at a floor price of roughly $5,500/oz to underpin future cash flow, though these are currently well out of the money, highlights the broker.

Moelis re-iterates a Hold rating with its target price raised by 2% to $1.30.

This report was published on March 2, 2026.

Target price is $1.30 Current Price is $1.32 Difference: minus $0.02 (current price is over target).
If OBM meets the Moelis target it will return approximately minus 2% (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 14.60 cents.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 9.04.

Forecast for FY27:

Moelis forecasts a full year FY27 dividend of 0.00 cents and EPS of 13.10 cents.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 10.08.

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

PLS    PLS GROUP LIMITED

New Battery Elements – Overnight Price: $4.76

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

Zimbabwe announced an immediate suspension of lithium concentrate and raw mineral exports in late-February. Canaccord Genuity explains this accelerated the country’s earlier plan to ban such exports from 2027 to encourage domestic processing.

This “favourable” action could materially tighten lithium supply in the near term, suggest the analysts, with the country’s five main mines capable of producing around 1.5Mtpa of concentrates.

It’s felt the suspension may remove more than -100ktpa lithium carbonate equivalent, or around -6-7% of the forecast 2026 market.

Combined with uncertainty around Chinese lepidolite supply, the measure could shift the 2026 lithium market from balance to deficit, in Canaccord’s view.

A best idea among the broker’s global producer coverage includes PLS Group. Locally, opportunity is seen in emerging producers such as Galan Lithium ((GLN)) and Core Lithium ((CXO)).

For developers, here the analysts like Wildcat Resources ((WC8)), PMET Resources ((PMT)), ioneer ((INR)) and Vulcan Energy Resources ((VUL)).

Target $5.20 and Buy for PLS Group.

This report was published on February 26, 2026.

Target price is $5.20 Current Price is $4.76 Difference: $0.44
If PLS meets the Canaccord Genuity target it will return approximately 9% (excluding dividends, fees and charges).
Current consensus price target is $4.85, suggesting upside of 1.9%(ex-dividends)
The company’s fiscal year ends in June.

Forecast for FY26:

Canaccord Genuity forecasts a full year FY26 dividend of 2.00 cents and EPS of 23.00 cents.
At the last closing share price the estimated dividend yield is 0.42%.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 20.70.

How do these forecasts compare to market consensus projections?

Current consensus EPS estimate is 12.8, implying annual growth of N/A.
Current consensus DPS estimate is 1.2, implying a prospective dividend yield of 0.3%.
Current consensus EPS estimate suggests the PER is 37.2.

Forecast for FY27:

Canaccord Genuity forecasts a full year FY27 dividend of 2.00 cents and EPS of 66.00 cents.
At the last closing share price the estimated dividend yield is 0.42%.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 7.21.

How do these forecasts compare to market consensus projections?

Current consensus EPS estimate is 28.1, implying annual growth of 119.5%.
Current consensus DPS estimate is 4.6, implying a prospective dividend yield of 1.0%.
Current consensus EPS estimate suggests the PER is 16.9.

Market Sentiment: 0.4
All consensus data are updated until yesterday. FNArena’s consensus calculations require a minimum of three sources

PPE    PEOPLEIN LIMITED

Jobs & Skilled Labour Services – Overnight Price: $0.65

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

PeopleIN posted a first half result that was in line, as Canaccord Genuity notes ongoing operations showed a clear recovery compared with the prior half.

Earnings are expected to rebuild through FY27-28, supported by a boom in Queensland infrastructure and a gradual normalisation of PALM volumes.

The broker lowers second half revenue forecasts to reflect lower PALM assumptions to account for ongoing visa processing delays. FY27 revenue estimates are upgraded to reflect the first full year of contributions from Infrawork.

Target is reduced to $1.00 from $1.15 and a Buy rating is maintained, with the stock’s valuation considered compelling.

This report was published on February 26, 2026.

Target price is $1.00 Current Price is $0.65 Difference: $0.355
If PPE meets the Canaccord Genuity target it will return approximately 55% (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 7.00 cents.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 9.21.

Forecast for FY27:

Canaccord Genuity forecasts a full year FY27 EPS of 11.00 cents.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 5.86.

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

PXA    PEXA GROUP LIMITED

Real Estate – Overnight Price: $15.92

Jarden rates ((PXA)) as Buy (1) –

Pexa Group’s 1H26 result was strong, Jarden suggests, with the Australian exchange earnings 10% ahead of consensus and Pexa tracking to the top end of management’s guidance (according to management). 

While not much new colour was given on the UK expansion, conveyancer adoption has been progressing with Pexa aiming to reach a “critical mass nationally”.

Jarden still views Pexa as being able to gain meaningful market share in the UK long term.and Pexa Clear going live in 1H27 should provide additional upside. Target rises to $17.60 from $17.40, Buy retained.

This report was published on February 27, 2026.

Target price is $17.60 Current Price is $15.92 Difference: $1.68
If PXA meets the Jarden target it will return approximately 11% (excluding dividends, fees and charges).
Current consensus price target is $17.90, suggesting upside of 12.5%(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 34.20 cents.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 46.55.

How do these forecasts compare to market consensus projections?

Current consensus EPS estimate is 28.6, 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 55.7.

Forecast for FY27:

Jarden forecasts a full year FY27 dividend of 0.00 cents and EPS of 47.00 cents.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 33.87.

How do these forecasts compare to market consensus projections?

Current consensus EPS estimate is 35.6, implying annual growth of 24.5%.
Current consensus DPS estimate is 4.5, implying a prospective dividend yield of 0.3%.
Current consensus EPS estimate suggests the PER is 44.7.

Market Sentiment: 0.9
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: $8.92

Jarden rates ((QAN)) as Buy (1) –

Qantas Airways reported 1H26 underlying profit 2% ahead of consensus forecasts. The result was characterised by a strong Group Domestic earnings contribution and solid Loyalty performance, Jarden notes.

Much of the market’s focus was the earnings miss in Qantas International & Freight (-13%), which saw underlying earnings decline for the first time since 1H18 (outside of covid).

FY27 maiden capex guidance is largely within expectations, which should reassure investors in Jarden’s view. Capital management remains strong. Buy and $12.70 target retained.

This report was published on February 27, 2026.

Target price is $12.70 Current Price is $8.92 Difference: $3.78
If QAN meets the Jarden target it will return approximately 42% (excluding dividends, fees and charges).
Current consensus price target is $12.20, suggesting upside of 36.8%(ex-dividends)
The company’s fiscal year ends in June.

Forecast for FY26:

Jarden forecasts a full year FY26 dividend of 39.60 cents and EPS of 118.00 cents.
At the last closing share price the estimated dividend yield is 4.44%.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 7.56.

How do these forecasts compare to market consensus projections?

Current consensus EPS estimate is 115.8, implying annual growth of 10.1%.
Current consensus DPS estimate is 44.5, implying a prospective dividend yield of 5.0%.
Current consensus EPS estimate suggests the PER is 7.7.

Forecast for FY27:

Jarden forecasts a full year FY27 dividend of 39.00 cents and EPS of 125.00 cents.
At the last closing share price the estimated dividend yield is 4.37%.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 7.14.

How do these forecasts compare to market consensus projections?

Current consensus EPS estimate is 125.5, implying annual growth of 8.4%.
Current consensus DPS estimate is 48.8, implying a prospective dividend yield of 5.5%.
Current consensus EPS estimate suggests the PER is 7.1.

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

QOR    QORIA LIMITED

Software & Services – Overnight Price: $0.33

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

Qoria had pre-released its first half revenue and cash flow in the second quarter update with Canaccord Genuity noting overall revenue growth outperformed recurring revenue growth.

No formal update was provided on the Aura acquisition/merger although management has signalled confidence in the first quarter trading performance.

The broker asserts investors are effectively underwriting the merged entity today, yet limited financial disclosure has reduced valuation transparency.

Canaccord Genuity expects the stock will trade at a discount to fair value until full disclosure, with the acquisition/merger creating one of the largest SaaS stocks on the ASX. Buy rating and $0.80 target retained.

This report was published on February 26, 2026.

Target price is $0.80 Current Price is $0.33 Difference: $0.475
If QOR meets the Canaccord Genuity target it will return approximately 146% (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 10.83.

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 32.50.

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

RDY    READYTECH HOLDINGS LIMITED

Software & Services – Overnight Price: $1.24

Canaccord Genuity rates ((RDY)) as Hold (3) –

Further to the first half results from ReadyTech Holdings, Canaccord Genuity downgrades its target to $1.34 from $2.63, noting the considerable volatility that has existed in the shares over the last year.

Commentary explains the extreme volatility is being driven by AI-related sell-offs in global SaaS stocks and contributed to the “unfortunate” downgrade to the company’s FY26 guidance.

After a soft first half result, the company has downgraded FY26 guidance to revenue of $125-127m with a cash EBITDA margin anticipated to be 13-15%.

Given more detailed information on efficiency measures is expected, Canaccord Genuity does not have any conviction at this juncture to become more constructive and retains a Hold rating.

This report was published on February 26, 2026.

Target price is $1.34 Current Price is $1.24 Difference: $0.1
If RDY meets the Canaccord Genuity target it will return approximately 8% (excluding dividends, fees and charges).
Current consensus price target is $2.03, suggesting upside of 63.3%(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.

How do these forecasts compare to market consensus projections?

Current consensus EPS estimate is 6.4, 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 19.4.

Forecast for FY27:

Canaccord Genuity forecasts a full year FY27 dividend of 0.00 cents.

How do these forecasts compare to market consensus projections?

Current consensus EPS estimate is 10.7, implying annual growth of 67.2%.
Current consensus DPS estimate is N/A, implying a prospective dividend yield of N/A.
Current consensus EPS estimate suggests the PER is 11.6.

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

RHC    RAMSAY HEALTH CARE LIMITED

Healthcare services – Overnight Price: $44.52

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

Ramsay Health Care posted an impressive half with its revenue, earnings and profit all beating consensus, Jarden comments. 

Australia set a great tone for the result, Jarden suggests, with revenue accelerating in 2Q26 to deliver 7.9% 1H26 revenue growth.

Australian earnings margins finally grew, while UK earnings were a big beat to consensus largely from FX, which swings around to be a headwind in 2H26, commentary notes.

Sante’s loss making French operations were mitigated by FX which once again highlights the attraction of decoupling Sante from the broader Ramsay Group, the report concludes.

Target rises to $45.20 from $40.60, Overweight retained.

This report was published on February 27, 2026.

Target price is $45.20 Current Price is $44.52 Difference: $0.68
If RHC meets the Jarden target it will return approximately 2% (excluding dividends, fees and charges).
Current consensus price target is $39.55, suggesting downside of -11.2%(ex-dividends)
The company’s fiscal year ends in June.

Forecast for FY26:

Jarden forecasts a full year FY26 dividend of 85.00 cents and EPS of 134.00 cents.
At the last closing share price the estimated dividend yield is 1.91%.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 33.22.

How do these forecasts compare to market consensus projections?

Current consensus EPS estimate is 136.3, implying annual growth of 4504.7%.
Current consensus DPS estimate is 83.5, implying a prospective dividend yield of 1.9%.
Current consensus EPS estimate suggests the PER is 32.7.

Forecast for FY27:

Jarden forecasts a full year FY27 dividend of 95.00 cents and EPS of 149.00 cents.
At the last closing share price the estimated dividend yield is 2.13%.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 29.88.

How do these forecasts compare to market consensus projections?

Current consensus EPS estimate is 163.8, implying annual growth of 20.2%.
Current consensus DPS estimate is 101.2, implying a prospective dividend yield of 2.3%.
Current consensus EPS estimate suggests the PER is 27.2.

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

RIC    RIDLEY CORPORATION LIMITED

Agriculture – Overnight Price: $2.90

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

Canaccord Genuity found plenty to like in the first half result from Ridley Corp amid strong growth in bulk stockfeeds and an “impressive” initial contribution from fertiliser.

Volume growth in stockfeeds accelerated across both monogastric and ruminant, complemented by operating leverage that helped to overcome the lost earnings associated with the divested Wasley feedmill.

Fertiliser delivered its contribution in what is the lowest volume quarter of the year with the broker encouraged by early signs of cost controls and margin management.

Canaccord Genuity raises estimates for EBIT by 7-9% and retains a Buy rating with its target lifted to $3.52 from $3.47.

This report was published on February 27, 2026.

Target price is $3.52 Current Price is $2.90 Difference: $0.62
If RIC meets the Canaccord Genuity target it will return approximately 21% (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 10.30 cents and EPS of 15.00 cents.
At the last closing share price the estimated dividend yield is 3.55%.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 19.33.

Forecast for FY27:

Canaccord Genuity forecasts a full year FY27 dividend of 13.50 cents and EPS of 20.00 cents.
At the last closing share price the estimated dividend yield is 4.66%.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 14.50.

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

SGQ    ST. GEORGE MINING LIMITED

Overnight Price: $0.12

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

Canaccord Genuity initiates coverage on St George Mining with a Speculative Buy rating and a $0.20 target price.

The Araxa Project in Brazil is seen as a high-grade rare earth and niobium asset, ranking as the second-highest total rare earth oxide (TREO) grade rare earth deposit globally and containing 280kt of niobium pentoxide.

The analysts believe ongoing drilling and metallurgical work could support a resource upgrade and eventual development, though the rare earth project timeline may extend into the 2030s.

Potential is also envisaged for a smaller-scale niobium development supported by existing regional infrastructure.

This report was published on March 6, 2026.

Target price is $0.20 Current Price is $0.12 Difference: $0.075
If SGQ meets the Canaccord Genuity target it will return approximately 60% (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 12.50.

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 12.50.

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

SIQ    SMARTGROUP CORPORATION LIMITED

Vehicle Leasing & Salary Packaging – Overnight Price: $8.20

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

FY25 revenue for Smartgroup Corp of $329.3m came in 3% ahead of Canaccord Genuity’s $319.3m forecast and 1.5% above the consensus estimate, leading to stronger profitability.

Earnings (EBITDA) exceeded the broker’s forecast by 6.7% and the consensus estimate by 3.6%, while profit also beat the analysts’ estimate by 5.2%.

Canaccord attributes the ‘beats’ to new contract wins, a 10% increase in salary packaging customers and favourable settlement mix, though cautions this mix may moderate in FY26.

FY26 and FY27 profit forecasts are raised by 2.4% and 0.6% respectively.

Unchanged $9.10 target price. The broker’s rating is downgraded to Hold from Buy on valuation and the risk of negative sentiment from the government’s review of the FBT exemption for BEV novated leases over the next six months.

This report was published on February 26, 2026.

Target price is $9.10 Current Price is $8.20 Difference: $0.9
If SIQ meets the Canaccord Genuity target it will return approximately 11% (excluding dividends, fees and charges).
Current consensus price target is $9.83, suggesting upside of 19.9%(ex-dividends)
The company’s fiscal year ends in December.

Forecast for FY26:

Canaccord Genuity forecasts a full year FY26 dividend of 55.00 cents and EPS of 64.30 cents.
At the last closing share price the estimated dividend yield is 6.71%.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 12.75.

How do these forecasts compare to market consensus projections?

Current consensus EPS estimate is 64.2, implying annual growth of 4.9%.
Current consensus DPS estimate is 32.3, implying a prospective dividend yield of 3.9%.
Current consensus EPS estimate suggests the PER is 12.8.

Forecast for FY27:

Canaccord Genuity forecasts a full year FY27 dividend of 61.50 cents and EPS of 71.70 cents.
At the last closing share price the estimated dividend yield is 7.50%.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 11.44.

How do these forecasts compare to market consensus projections?

Current consensus EPS estimate is 71.0, implying annual growth of 10.6%.
Current consensus DPS estimate is 35.5, implying a prospective dividend yield of 4.3%.
Current consensus EPS estimate suggests the PER is 11.5.

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

SNZ    SUMMERSET GROUP HOLDINGS LIMITED

Overnight Price: $8.70

Jarden rates ((SNZ)) as Neutral (3) –

Summerset Group is moving slowly and selectively to a changing sector narrative, Jarden notes. The market seems to be increasingly concerned despite record growth in underlying profit. 

This despite unit prices up in line with the broker’s long-term expectations over this period while development delivery has been impressive. Summerset is addressing the question of cost but needs to do more, Jarden suggests.

The broker is waiting for the turnaround. Target falls to NZ$11.44 from NZ$11.90, Neutral retained.

This report was published on February 28, 2026.

Current Price is $8.70. Target price not assessed.
The company’s fiscal year ends in December.

Forecast for FY26:

Jarden forecasts a full year FY26 dividend of 0.00 cents and EPS of minus 4.29 cents.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is minus 202.70.

Forecast for FY27:

Jarden forecasts a full year FY27 dividend of 0.00 cents and EPS of minus 2.77 cents.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is minus 313.85.

This company reports in NZD. 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

SPG    SPC GLOBAL HOLDINGS LIMITED

Food, Beverages & Tobacco – Overnight Price: $0.35

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

First-half normalised earnings (EBITDA) for SPC Global Holdings of $13.0m rose 80% on the prior year and exceeded Canaccord Genuity’s $9.8m forecast, reflecting portfolio optimisation and improved margins.

Revenue declined in both the domestic and international divisions as the company shifted away from lower-margin contracts, though margins improved, the analysts highlight.

Management achieved its inventory reduction target of -$108.9m and expects synergy programs to deliver $15-20m in incremental earnings in coming periods.

Revenue forecasts are lowered for FY26 and FY27 by -14% and -15%, respectively, while earnings forecasts are broadly unchanged.

Target price falls to $0.80 from $0.85. Buy rating maintained.

This report was published on February 27, 2026.

Target price is $0.80 Current Price is $0.35 Difference: $0.45
If SPG meets the Canaccord Genuity target it will return approximately 129% (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 3.50.

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 35.00.

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: $5.23

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

Vault Minerals delivered H1 underlying EBITDA of $385m that substantially beat Canaccord Genuity’s estimates.

FY26 guidance has been maintained with production of 332-360,000 ounces at AISC of $2650-2850/oz. A maiden interim unfranked dividend of seven cents was declared.

The broker updates its modelling and upgrades the rating to Buy from Hold. Target is steady at $6.45.

This report was published on February 26, 2026.

Target price is $6.45 Current Price is $5.23 Difference: $1.22
If VAU meets the Canaccord Genuity target it will return approximately 23% (excluding dividends, fees and charges).
Current consensus price target is $7.62, suggesting upside of 45.6%(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.

How do these forecasts compare to market consensus projections?

Current consensus EPS estimate is 48.9, implying annual growth of 115.9%.
Current consensus DPS estimate is 8.0, implying a prospective dividend yield of 1.5%.
Current consensus EPS estimate suggests the PER is 10.7.

Forecast for FY27:

Canaccord Genuity forecasts a full year FY27 dividend of 0.00 cents.

How do these forecasts compare to market consensus projections?

Current consensus EPS estimate is 75.2, implying annual growth of 53.8%.
Current consensus DPS estimate is 9.7, implying a prospective dividend yield of 1.9%.
Current consensus EPS estimate suggests the PER is 7.0.

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: $6.63

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

Westgold Resources’ interim earnings (EBITDA) of $612m were broadly in line with Canaccord Genuity’s $630m forecast and the consensus estimate, and up 73% on the prior year.

Profit of $314m was also broadly in line with the broker’s $322m estimate and the consensus estimate of $305m.

No interim dividend was declared as the company waits for franking credits to build in H2 FY26, though management reiterated its dividend policy of at least 2c annually or up to 30% of free cash flow (FCF). The broker forecasts a 9c dividend for FY26

FY26 production guidance of 345-385koz at costs (AISC) of -$2,600-2,900/oz was maintained.

Canaccord Genuity raises its target price to $8.50 from $8.35 and reiterates a Buy rating.

This report was published on February 26, 2026.

Target price is $8.50 Current Price is $6.63 Difference: $1.87
If WGX meets the Canaccord Genuity target it will return approximately 28% (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 9.00 cents and EPS of 57.00 cents.
At the last closing share price the estimated dividend yield is 1.36%.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 11.63.

Forecast for FY27:

Canaccord Genuity forecasts a full year FY27 dividend of 12.00 cents and EPS of 99.00 cents.
At the last closing share price the estimated dividend yield is 1.81%.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 6.70.

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

Disclaimer:
The content of this information does in no way reflect the opinions of FNArena, or of its journalists. In fact we don’t have any opinion about the stock market, its value, future direction or individual shares. FNArena solely reports about what the main experts in the market note, believe and comment on. By doing so we believe we provide experienced, intelligent investors with a valuable tool that helps them in making up their own minds, reading market trends and getting a feel for what is happening beneath the surface.

This document is provided for informational purposes only. It does not constitute an offer to sell or a solicitation to buy any security or other financial instrument. FNArena employs very experienced journalists who base their work on information believed to be reliable and accurate, though no guarantee is given that the daily report is accurate or complete. Investors should contact their personal adviser before making any investment decision.

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