Daily Market Reports | 1:11 PM
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)
A1M ALK APE ARB BOQ CBA CGS CU6 GL1 GYG LOT MQG PLY RMS SGQ TLX (2) TOR WC8 (2)
A1M AIC MINES LIMITED
Gold & Silver - Overnight Price: $0.58
Shaw and Partners rates ((A1M)) as Buy (1) -
AIC Mines has reported record growth at Eloise and Jericho, which significantly increases copper resources and reserves while advancing key infrastructure, Shaw and Partners notes.
Combined mineral resources for the Eloise project have increased by 10% with 31.2mt containing 631,800t copper. Combined ore reserves increased 40% to 10.2mt, containing 191,000t copper.
Resources at Jericho increased by 15% to 22.1mt with contained copper rising 17% to 444,900t. Growth was driven by the discovery of the new JO lens and extension of the J1 mineral sources by 600m along strike.
The broker retains a Buy, High Risk rating and target of $1.10.
This report was published on April 7, 2026.
Target price is $1.10 Current Price is $0.58 Difference: $0.515
If A1M meets the Shaw and Partners target it will return approximately 88% (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 0.00 cents and EPS of 8.30 cents.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 7.05.
Forecast for FY27:
Shaw and Partners forecasts a full year FY27 dividend of 0.00 cents and EPS of 17.10 cents.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 3.42.
Market Sentiment: 1.0
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources
ALK ALKANE RESOURCES LIMITED
Gold & Silver - Overnight Price: $1.72
Moelis rates ((ALK)) as Buy (1) -
Alkane Resources has provided early production numbers for the March quarter, which Moelis finds were slightly ahead of forecasts owing to better production at Bjorkdal.
The probability is higher realised prices for gold and antimony have contributed to a higher cash balance relative to forecasts. The company has reiterated FY26 guidance for 160-175,000 ounces of gold equivalent.
This suggests to the broker confidence in the rest of the financial year, with only 37,000 ounces of gold required in the fourth quarter to meet the lower end of production guidance
Moelis also suggests the merger with Mandalay may, if performance is consistent, help endear the company to new investors. Buy rating and $2.25 target.
This report was published on April 9, 2026.
Target price is $2.25 Current Price is $1.72 Difference: $0.53
If ALK 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 0.00 cents and EPS of 16.78 cents.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 10.25.
Forecast for FY27:
Moelis forecasts a full year FY27 dividend of 0.00 cents and EPS of 27.08 cents.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 6.35.
Market Sentiment: 1.0
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources
APE EAGERS AUTOMOTIVE LIMITED
Automobiles & Components - Overnight Price: $24.00
Canaccord Genuity rates ((APE)) as Buy (1) -
Canaccord Genuity maintains a Buy rating and 32.00 target for Eagers Automotive following March 2026 new vehicle sales data showing a -2.6% decline on the year prior.
The broker highlights lower headline numbers are primarily supply-driven by constraints at Toyota, with underlying demand across major models remaining above current sales levels.
BYD recorded near-record sales and order write, benefiting from high fuel prices and growing EV interest, with the upcoming Denza brand launch providing further upside.
Canaccord Genuity expects a weighted 2H26 earnings bias following the close of the CanadaOne acquisition and views the medium-term thesis as anchored in further expansion activity.
This report was published on April 7, 2026.
Target price is $32.00 Current Price is $24.00 Difference: $8
If APE meets the Canaccord Genuity target it will return approximately 33% (excluding dividends, fees and charges).
Current consensus price target is $30.43, suggesting upside of 31.1%(ex-dividends)
Forecast for FY26:
Current consensus EPS estimate is 120.8, implying annual growth of 38.7%.
Current consensus DPS estimate is 85.5, implying a prospective dividend yield of 3.7%.
Current consensus EPS estimate suggests the PER is 19.2.
Forecast for FY27:
Current consensus EPS estimate is 135.3, implying annual growth of 12.0%.
Current consensus DPS estimate is 91.0, implying a prospective dividend yield of 3.9%.
Current consensus EPS estimate suggests the PER is 17.2.
Market Sentiment: 0.8
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources
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