Australian Broker Call *Extra* Edition – Mar 23, 2026

Array
(
    [0] => Array
        (
            [0] => ((BOE))
            [1] => ((BTL))
            [2] => ((TBN))
            [3] => ((DUR))
            [4] => ((EBO))
            [5] => ((EBR))
            [6] => ((GG8))
            [7] => ((SGM))
            [8] => ((SNZ))
            [9] => ((TCG))
            [10] => ((TTM))
        )

    [1] => Array
        (
            [0] => BOE
            [1] => BTL
            [2] => TBN
            [3] => DUR
            [4] => EBO
            [5] => EBR
            [6] => GG8
            [7] => SGM
            [8] => SNZ
            [9] => TCG
            [10] => TTM
        )

)

This story features BOSS ENERGY LIMITED, and other companies.
For more info SHARE ANALYSIS: BOE
The company is included in ASX300 and 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)

BOE   BTL   DUR   EBO   EBR   GG8   SGLLV (2)   SGM   SNZ   TCG   TTM  

BOE    BOSS ENERGY LIMITED

Uranium – Overnight Price: $1.56

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

While the size of Boss Energy’s Gould’s and Jason’s resources has increased, Canaccord Genuity notes lower grades following additional drilling.

Resources rise to 33.1mlbs at Gould’s (up by 32%) and 12.0mlbs at Jason’s, though continuity of high-grade mineralisation remains limited, explain the analysts.

Both deposits are seen as candidates for wide-spaced wellfield extraction similar to Honeymoon.

Canaccord lowers its target price to $2.55 from $2.80 and retains a Speculative Buy rating.

In the broker’s view, the Iranian conflict reinforces the global shift toward energy security, with nuclear power positioned as a key beneficiary of this structural trend.

This report was published on March 19, 2026.

Target price is $2.55 Current Price is $1.56 Difference: $0.99
If BOE meets the Canaccord Genuity target it will return approximately 63% (excluding dividends, fees and charges).
Current consensus price target is $1.60, suggesting upside of 8.1%(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 10.0, 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 14.8.

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 20.1, implying annual growth of 101.0%.
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.

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

BTL    BEETALOO ENERGY AUSTRALIA LIMITED

Energy – Overnight Price: $0.25

Research as a Service (RaaS) rates ((BTL)) as No Rating (-1) –

Beetaloo Energy Australia explores for gas in the Northhern Territory and with the end of the wet season approaching is scheduled to return to the field to complete testing and validation works to enable the mobilisation and construction of the Carpentaria gas plant.

Research as a Service (RaaS) would not be surprised if the production opportunity accelerates once field performance is better defined. While acknowledging that “not everything moves in a straight line” first gas by late 2026 appears possible.

The broker welcomes the impending completion of the Tamboran Resources ((TBN)) farm-out process, delivering an initial resource price benchmark.

Valuation ranges are $0.81-1.16 with the midpoint at $0.89.

Research as a Service (RaaS) research doesn’t carry any targets, ratings or recommendations. Investors can draw conclusions from valuations and commentary.

This report was published on March 19, 2026.

Target price is $0.89 Current Price is $0.25 Difference: $0.64
If BTL meets the Research as a Service (RaaS) target it will return approximately 256% (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

DUR    DURATEC LIMITED

Industrial Sector Contractors & Engineers – Overnight Price: $2.33

Shaw and Partners rates ((DUR)) as Buy (1) –

Shaw and Partners sees Duratec as an attractive way to gain Energy exposure, with a high-growth, high-margin platform targeting Australia’s circa $5bn infrastructure services market.

The Energy segment is a key earnings driver for Duratec, highlights the analyst, delivering 77% of FY25 revenue growth and sustaining a gross margin near 29% into 1H26.

Commentary posits strategic acquisitions have expanded capabilities across fabrication, remediation and decommissioning, increasing share of client spend and supporting integrated service delivery.

Shaw retains a Buy rating and target of $2.40. Strong Tier 1 contracts and rising MSA exposure are noted, improving earnings visibility and margin stability.

This report was published on March 23, 2026.

Target price is $2.40 Current Price is $2.33 Difference: $0.07
If DUR meets the Shaw and Partners target it will return approximately 3% (excluding dividends, fees and charges).
The company’s fiscal year ends in June.

Forecast for FY26:

Shaw and Partners forecasts a full year FY26 dividend of 4.30 cents and EPS of 10.20 cents.
At the last closing share price the estimated dividend yield is 1.85%.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 22.84.

Forecast for FY27:

Shaw and Partners forecasts a full year FY27 dividend of 4.90 cents and EPS of 10.90 cents.
At the last closing share price the estimated dividend yield is 2.10%.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 21.38.

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

EBO    EBOS GROUP LIMITED

Healthcare services – Overnight Price: $18.16

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

Ebos Group has underperformed over the past year, with Jarden highlighting a -38% total shareholder loss against the NZX50’s 9% gain amid earnings resets and contract loss impacts.

While the 1H26 result showed early progress in the operating reset, the analysts explain higher leasing and depreciation from distribution centre upgrades drove further earnings downgrades.

Growth prospects are seen as being supported by pharmaceutical demand trends, with PBS expansion and specialty medicines supporting Community Pharmacy operations.

In the event of strong execution, Jarden sees stabilisation in PBS share near 29%. An Overweight rating and target of NZ$34 are maintained.

This report was published on March 18, 2026.

Current Price is $18.16. Target price not assessed.
Current consensus price target is $28.02, suggesting upside of 53.1%(ex-dividends)
The company’s fiscal year ends in June.

Forecast for FY26:

Jarden forecasts a full year FY26 dividend of 105.00 cents and EPS of 126.00 cents.
At the last closing share price the estimated dividend yield is 5.78%.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 14.41.

How do these forecasts compare to market consensus projections?

Current consensus EPS estimate is 127.3, implying annual growth of 16.0%.
Current consensus DPS estimate is 104.8, implying a prospective dividend yield of 5.7%.
Current consensus EPS estimate suggests the PER is 14.4.

Forecast for FY27:

Jarden forecasts a full year FY27 dividend of 106.00 cents and EPS of 129.10 cents.
At the last closing share price the estimated dividend yield is 5.84%.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 14.07.

How do these forecasts compare to market consensus projections?

Current consensus EPS estimate is 134.3, implying annual growth of 5.5%.
Current consensus DPS estimate is 103.9, implying a prospective dividend yield of 5.7%.
Current consensus EPS estimate suggests the PER is 13.6.

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

EBR    EBR SYSTEMS INC

Medical Equipment & Devices – Overnight Price: $0.71

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

Management at EBR Systems delivered strong FY25 execution, assesses Canaccord Genuity. The commercial rollout of the WiSE device is tracking ahead of the broker’s expectation despite weaker market sentiment.

The analysts note 30 implants generated US$1.6m revenue, with pricing stable and training metrics indicating growing clinician adoption and future demand.

The broker explains growth potential derives from expanding use cases, strong physician interest and upside to forecasts, albeit constrained by training capacity.

Canaccord lowers its target price to $2.43 from $2.48 and retains a Buy rating.

This report was published on March 19, 2026.

Target price is $2.43 Current Price is $0.71 Difference: $1.72
If EBR meets the Canaccord Genuity target it will return approximately 242% (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 0.00 cents and EPS of minus 22.43 cents.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is minus 3.17.

Forecast for FY27:

Canaccord Genuity forecasts a full year FY27 dividend of 0.00 cents and EPS of minus 21.22 cents.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is minus 3.35.

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

GG8    GORILLA GOLD MINES LIMITED

Gold & Silver – Overnight Price: $0.33

Canaccord Genuity rates ((GG8)) as Speculative Buy (1) –

Gorilla Gold Mines’ Mulwarrie Project shows strong expansion potential, suggests Canaccord Genuity, after high-grade drilling extended mineralisation 700m beyond the current resource.

The broker notes intercepts of 3.4m at 9.0g/t gold and 0.7m at 24.8g/t gold, while soil sampling outlines anomalies up to 2.5km and broader trends beyond 11km.

Scale upside is emphasised by the analysts, pointing to over 35km of prospective strike and limited drilling across a 5km system.

Canaccord retains a Speculative Buy rating and target of $1.00.

This report was published on March 18, 2026.

Target price is $1.00 Current Price is $0.33 Difference: $0.67
If GG8 meets the Canaccord Genuity target it will return approximately 203% (excluding dividends, fees and charges).

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

SGLLV    RICEGROWERS LIMITED

Food, Beverages & Tobacco – Overnight Price: $12.74

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

Canaccord Genuity assesses Ricegrowers’ FY26 outlook remains broadly unchanged, noting softer revenue guidance while profit growth expectations were maintained.

The broker highlights freight and distribution cost pressures, alongside currency headwinds and Middle East logistics disruption weighing on near-term performance.

It’s believed longer-term growth will be supported by product innovation, market expansion and potential inorganic opportunities under the 2030 strategy.

Canaccord lowers its target price to $18.70 from $19.40 and retains a Buy rating.

This report was published on March 19, 2026.

Target price is $18.70 Current Price is $12.74 Difference: $5.96
If SGLLV meets the Canaccord Genuity target it will return approximately 47% (excluding dividends, fees and charges).
The company’s fiscal year ends in April.

Forecast for FY26:

Canaccord Genuity forecasts a full year FY26 dividend of 67.00 cents and EPS of 112.00 cents.
At the last closing share price the estimated dividend yield is 5.26%.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 11.37.

Forecast for FY27:

Canaccord Genuity forecasts a full year FY27 dividend of 69.00 cents and EPS of 107.00 cents.
At the last closing share price the estimated dividend yield is 5.42%.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 11.91.

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

Research as a Service (RaaS) rates ((SGLLV)) as No Rating (-1) –

Research as a Service (RaaS) assesses key changes to estimates, share price and outlook commentary relevant to Ricegrowers.

Commentary highlights Ricegrowers shares now trade at a FY26 forecast PE discount of -37% to the peer average.

The main themes from the February reporting period for agricultural stocks centre on the building up or taking advantage of scale as well as product innovation in order to move up the value chain, RaaS explains.

The company is observed to be executing a strategy in line with its peers, improving supply chain efficiencies and increasing scale via acquisitions and existing distribution channels. 

Valuation drops to $18.20 from $19.10 because of a higher risk-free rate.

Research as a Service (RaaS) research doesn’t carry any targets, ratings or recommendations. Investors can draw conclusions from valuations and commentary.

This report was published on March 20, 2026.

Target price is $18.20 Current Price is $12.74 Difference: $5.46
If SGLLV meets the Research as a Service (RaaS) target it will return approximately 43% (excluding dividends, fees and charges).
The company’s fiscal year ends in April.

Forecast for FY26:

Research as a Service (RaaS) forecasts a full year FY26 dividend of 70.00 cents and EPS of 122.00 cents.
At the last closing share price the estimated dividend yield is 5.49%.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 10.44.

Forecast for FY27:

Research as a Service (RaaS) forecasts a full year FY27 dividend of 75.00 cents and EPS of 112.00 cents.
At the last closing share price the estimated dividend yield is 5.89%.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 11.37.

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

SGM    SIMS LIMITED

Steel & Scrap – Overnight Price: $20.36

Jarden rates ((SGM)) as Upgrade to Neutral from Underweight (3) –

Sims materially upgraded FY26 guidance with group earnings (EBIT) of $350-400m now expected, around 23% above prior consensus.

Jarden highlights a stronger Metals performance driven by North America and pricing tailwinds, alongside Sims Lifecycle Services (SLS) benefiting from elevated dynamic random access memory (DRAM) pricing.

The FY26 earnings forecasts is lifted by 50% with further increases across FY27-28, reflecting improved operating momentum.

Jarden raises its target price to $21.50 from $19.50 and upgrades to Neutral from Underweight.

This report was published on March 18, 2026.

Target price is $21.50 Current Price is $20.36 Difference: $1.14
If SGM meets the Jarden target it will return approximately 6% (excluding dividends, fees and charges).
Current consensus price target is $22.08, suggesting upside of 11.3%(ex-dividends)
The company’s fiscal year ends in June.

Forecast for FY26:

Jarden forecasts a full year FY26 dividend of 28.00 cents and EPS of 114.10 cents.
At the last closing share price the estimated dividend yield is 1.38%.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 17.84.

How do these forecasts compare to market consensus projections?

Current consensus EPS estimate is 94.5, implying annual growth of N/A.
Current consensus DPS estimate is 36.0, implying a prospective dividend yield of 1.8%.
Current consensus EPS estimate suggests the PER is 21.0.

Forecast for FY27:

Jarden forecasts a full year FY27 dividend of 37.00 cents and EPS of 121.90 cents.
At the last closing share price the estimated dividend yield is 1.82%.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 16.70.

How do these forecasts compare to market consensus projections?

Current consensus EPS estimate is 134.0, implying annual growth of 41.8%.
Current consensus DPS estimate is 43.0, implying a prospective dividend yield of 2.2%.
Current consensus EPS estimate suggests the PER is 14.8.

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: $7.70

Jarden rates ((SNZ)) as Neutral (3) –

Summerset Group’s book valuation approach remains under review by Jarden. Limited transparency improvements are noted following the group’s FY25 audit.

The analysts examine the PwC/Summerset approach to care and investment property valuation following FY25 results.

The broker notes differences in care and investment property valuation versus peers, with questions around assumptions, resident funding treatment and balance sheet presentation.

A cautious stance is maintained, citing reliance on development growth, house price assumptions and high leverage within valuation metrics.

Neutral rating and target of NZ$11.44 are maintained.

This report was published on March 18, 2026.

Current Price is $7.70. Target price not assessed.
Current consensus price target is N/A
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 4.27 cents.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is minus 180.16.

How do these forecasts compare to market consensus projections?

Current consensus EPS estimate is 91.8, implying annual growth of N/A.
Current consensus DPS estimate is 20.6, implying a prospective dividend yield of 2.7%.
Current consensus EPS estimate suggests the PER is 8.4.

Forecast for FY27:

Jarden forecasts a full year FY27 dividend of 0.00 cents and EPS of minus 2.76 cents.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is minus 278.99.

How do these forecasts compare to market consensus projections?

Current consensus EPS estimate is 100.0, implying annual growth of 8.9%.
Current consensus DPS estimate is 21.2, implying a prospective dividend yield of 2.8%.
Current consensus EPS estimate suggests the PER is 7.7.

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

TCG    TURACO GOLD LIMITED

Gold & Silver – Overnight Price: $0.67

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

Turaco Gold’s Afema total resource has been increased by 15% to 4.65moz, with Canaccord Genuity highlighting strong growth and an 8% grade increase.

Expansion across key deposits and a new 100koz addition are highlighted, with further upside anticipated from untested corridors ahead of planned 2026 updates.

Scale and development potential are emphasised by the analysts, citing high Indicated resource levels, favourable metallurgy, and clustered deposits supporting a June quarter 2026 PFS.

Canaccord retains a Speculative Buy rating and target of $1.45.

This report was published on March 18, 2026.

Target price is $1.45 Current Price is $0.67 Difference: $0.785
If TCG meets the Canaccord Genuity target it will return approximately 118% (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 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 33.25.

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 66.50.

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

TTM    TITAN MINERALS LIMITED

Gold & Silver – Overnight Price: $0.83

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

Titan Minerals has delivered a resource 25% resource upgrade to 3.9moz gold and 26.1moz silver for its Dynasty Gold Project in southern Ecuador. The upgrade was driven by strong growth at the Cerro Verde deposit, highlights Canaccord Genuity.

Cerro Verde contributes 69% of the resource, with drilling confirming continuity and mineralisation remaining open, while other deposits remain unchanged.

Development potential is noted with shallow mineralisation, oxide upside, and a 12-year open pit scenario producing around 87kozpa gold equivalent.

Canaccord retains a Speculative Buy rating and target of $1.95.

This report was published on March 18, 2026.

Target price is $1.95 Current Price is $0.83 Difference: $1.115
If TTM meets the Canaccord Genuity target it will return approximately 134% (excluding dividends, fees and charges).

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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