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In Case You Missed It – BC Extra Upgrades & Downgrades – 10-04-26

Weekly Reports | Apr 10 2026

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            [1] => ((CMM))
            [2] => ((CSC))
            [3] => ((GMD))
            [4] => ((MAU))
            [5] => ((KCN))
            [6] => ((KMD))
            [7] => ((PXA))
        )

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            [0] => APE
            [1] => CMM
            [2] => CSC
            [3] => GMD
            [4] => MAU
            [5] => KCN
            [6] => KMD
            [7] => PXA
        )

)
List StockArray ( [0] => APE [1] => CMM [2] => CSC [3] => GMD [4] => MAU [5] => KCN [6] => KMD [7] => PXA )

This story features EAGERS AUTOMOTIVE LIMITED, and other companies.
For more info SHARE ANALYSIS: APE

The company is included in ASX100, ASX200, ASX300 and ALL-ORDS

A summary of the highlights from Broker Call Extra updates throughout the week past.

Broker Rating Changes (Post Thursday Last Week)

Upgrade

EAGERS AUTOMOTIVE LIMITED ((APE)) Upgrade to Overweight from Neutral by Jarden.B/H/S: 0/0/0

Jarden lowers its target for Eagers Automotive to $25.25 from $26.10 given a delay to CanadaOne deal completion.

The rating is upgraded to Overweight from Neutral as the company is seen as well positioned to outperform in a challenging consumer environment.

Despite macro headwinds, including higher interest rates and weaker sentiment, the broker sees strong demand for fuel-efficient vehicles benefiting Eagers, particularly given exposure to Toyota and EV/PHEV brands.

First half 2026 volumes are tracking better than expected by the analysts, supported by improving supply and rising EV demand, though uncertainty remains around sustainability.

CAPRICORN METALS LIMITED ((CMM)) Upgrade to Overweight from Neutral by Jarden.B/H/S: 0/0/0

Jarden lifts its long-term gold and silver price forecasts to US$3000/oz real from FY31 for gold and US$40/oz real for silver, although also increases near-term cost assumptions to reflect fuel supply disruption.

Production forecasts are not yet constrained, although the broker considers this a “real and increasing risk” should fuel shortages escalate.

Low-grade open pit operations, which includes those of Capricorn Metals, are most exposed.

Rating is upgraded to Overweight from Neutral and Capricorn Metals remains the broker’s preference in the gold sector. Target is raised to $13.50 from $11.00.

CAPSTONE COPPER CORP. ((CSC)) Upgrade to Buy from Hold by Moelis.B/H/S: 0/0/0

Capstone Copper is upgraded to Buy from Hold as Moelis notes stock specific events and growing caution around the copper price have provided an environment for a sell-off over recent weeks.

The broker flags the company’s unique investment position as one of only few pathways for domestic small-cap fund managers to gain access to high-quality diversified global copper exposure.

The main residual risk is any ongoing disruptions at operations that may signal the last six months of problems are not just temporary. Target edges up to $14.60 from $14.50.

GENESIS MINERALS LIMITED ((GMD)) Upgrade to Buy from Hold by Moelis.B/H/S: 0/0/0

Genesis Minerals is upgraded to Buy from Hold as Moelis observes at times there have been strong share price returns while maintaining a neutral investment position.

In the March quarter the company formally committed to a new plant at the Leonora mine site which will increase overall throughput and provide additional capacity to capitalise on the significant inventory now held.

The proposed acquisition of Magnetic Resources ((MAU)) also adds further mineralised inventory near the Laverton operations.

The broker believes investors should have more conviction to bake in a potential 500,000 ounces of gold production in future.

The stock has been sold from its highs recently and the target of $8.40 compares with $8.05 previously.

KINGSGATE CONSOLIDATED LIMITED ((KCN)) Upgrade to Buy from Hold by Moelis.B/H/S: 0/0/0

Kingsgate Consolidated is upgraded to Buy from Hold as Moelis asserts the recent pull back in the share price provides adequate upside for a more constructive investment rating.

The elements that make up this new investment view include the resolution of prior legal grievances with the Thai government and scope for improved grades at Chatree.

A step change in silver prices also had an impact on the business, as byproduct credits from Chatree increase in value  and the Nueva Esperanza project in Chile takes on economic potential, although the broker considers it too early to include the development case in its valuation. Target is $6.95, increased from $6.85.

Downgrade

KMD BRANDS LIMITED ((KMD)) Downgrade to Neutral from Overweight by Jarden.B/H/S: 0/0/0

Jarden downgrades KMD Brands to Neutral with 0.14 price target following 1H26 results and a highly dilutive 65.3m capital raise.

Equity raise priced at a -74% discount issues circa 1,088m new shares, reducing pro-forma net debt to 32m (1.3x EBITDA) though leverage remains above the 0.5x or less target.

Commentary highlights Kathmandu (+12.3% y/y) and Rip Curl wholesale (+9.8% y/y) growth supported sales momentum, partially offset by -120bps group gross margin contraction to 56.8% amid inventory clearance.

Operating earnings forecasts are lowered by circa -30% for FY27/FY28 driven by softer Rip Curl sales and reduced long-run Kathmandu gross margin assumptions of 62.0%.

Moderating sales momentum and a history of missing targets maintain a significant credibility gap, the report states, with future valuation tied to transformation strategy execution and managing freight and input cost inflation.

PEXA GROUP LIMITED ((PXA)) Downgrade to Neutral from Buy by Jarden.B/H/S: 0/0/0

Jarden downgrades Pexa Group to Neutral with a 12.40 target following ARNECC’s decision to shelve interoperability and IPART’s pricing methodology release.

Interoperability removal reinforces monopoly position but increases risk of aggressive price regulation. IPART proposes historical cost rolled-forward Regulatory Asset Base (RAB) excluding goodwill, suggesting possible $158m-$169m base versus $1.3bn book value.

Potential price cuts of 25%-47% under 6% WACC scenarios create a significant valuation overhang, the report highlights.

Commentary warns near-term risk remains elevated ahead of the June 2026 Draft Report.

Order Company New Rating Old Rating Broker
Upgrade
1 CAPRICORN METALS LIMITED Buy Neutral Jarden
2 CAPSTONE COPPER CORP. Buy Neutral Moelis
3 EAGERS AUTOMOTIVE LIMITED Buy Neutral Jarden
4 GENESIS MINERALS LIMITED Buy Neutral Moelis
5 KINGSGATE CONSOLIDATED LIMITED Buy Neutral Moelis
Downgrade
6 KMD BRANDS LIMITED Neutral Buy Jarden
7 PEXA GROUP LIMITED Neutral Buy Jarden

Price Target Changes (Post Thursday Last Week)

Company Last Price Broker New Target Old Target Change
A1M AIC Mines $0.59 Moelis 0.75 0.71 5.63%
ALK Alkane Resources $1.79 Moelis 2.25 2.20 2.27%
AMI Aurelia Metals $0.27 Moelis 0.44 0.43 2.33%
APE Eagers Automotive $23.52 Jarden 25.25 26.10 -3.26%
BC8 Black Cat Syndicate $1.19 Moelis 1.82 1.85 -1.62%
BGL Bellevue Gold $1.87 Jarden 1.30 1.05 23.81%
CKF Collins Foods $8.77 Jarden 11.80 12.10 -2.48%
CMM Capricorn Metals $12.21 Jarden 13.50 11.00 22.73%
CNB Carnaby Resources $0.47 Moelis 0.95 0.90 5.56%
CSC Capstone Copper $12.10 Moelis 14.60 14.50 0.69%
CU6 Clarity Pharmaceuticals $3.14 Canaccord Genuity 8.41 9.00 -6.56%
DMP Domino’s Pizza Enterprises $17.90 Jarden 17.00 18.00 -5.56%
DUR Duratec $2.78 Shaw and Partners 3.00 2.40 25.00%
EQR EQ Resources $0.35 Canaccord Genuity 0.50 0.40 25.00%
EVN Evolution Mining $13.92 Jarden 8.50 7.20 18.06%
FFM FireFly Metals $2.02 Moelis 2.16 2.10 2.86%
GGP Greatland Resources $14.54 Canaccord Genuity 15.45 14.60 5.82%
Jarden 8.30 6.40 29.69%
Moelis 11.50 10.10 13.86%
GL1 Global Lithium Resources $0.53 Shaw and Partners 1.50 N/A N/A
GMD Genesis Minerals $6.53 Moelis 8.40 8.05 4.35%
GYG Guzman y Gomez $20.33 Jarden 17.10 19.30 -11.40%
Jarden 17.30 19.30 -10.36%
HGO Hillgrove Resources $0.04 Moelis 0.08 0.07 23.08%
KCN Kingsgate Consolidated $5.03 Moelis 6.95 6.85 1.46%
KMD KMD Brands $0.06 Jarden 0.14 N/A N/A
LOT Lotus Resources $1.44 Canaccord Genuity 3.10 3.90 -20.51%
NST Northern Star Resources $24.47 Jarden 22.50 16.60 35.54%
OBM Ora Banda Mining $1.36 Moelis 1.60 1.67 -4.19%
PNR Pantoro Gold $3.87 Moelis 4.90 4.85 1.03%
PXA Pexa Group $12.01 Jarden 12.40 17.60 -29.55%
TLX Telix Pharmaceuticals $13.64 Canaccord Genuity 30.00 28.50 5.26%
Jarden 21.80 21.00 3.81%
VAU Vault Minerals $4.60 Jarden 4.20 3.70 13.51%
Moelis 7.59 7.60 -0.13%
WAF West African Resources $3.31 Canaccord Genuity 5.85 5.70 2.63%
Company Last Price Broker New Target Old Target Change

More Highlights

A1M    AIC MINES LIMITED

Gold & Silver – Overnight Price: $0.54 

Moelis rates ((A1M)) as Buy (1) –

Moelis notes copper has traded in a relatively tight range throughout the March quarter before weakening late to close at US$5.50/lb.

Amid a growing narrative of potential price weakness as US stockpiles are unwound, the price has held up, which the broker suggests could be a reminder that decarbonisation remains essential to negate reliance on fossil fuel supplies.

Prices are increased between 8-11% throughout the forecast period. Long-term estimates are increased by around 2% and are now at US$4.66/lb.

Moelis has also made upward revisions to capital and operating expenditures to reflect the re-emergence of inflation, which negates some of the upside to cash flow and therefore valuation.

Buy rating retained for AIC Mines and the target rises to $0.75 from $0.71.

This report was published on April 7, 2026.

Target price is $0.75 Current Price is $0.54 Difference: $0.21
If A1M meets the Moelis target it will return approximately 39% (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 5.10 cents.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 10.59.

Forecast for FY27:

Moelis forecasts a full year FY27 dividend of 0.00 cents and EPS of 8.40 cents.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 6.43.

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

AMI    AURELIA METALS LIMITED

Gold & Silver – Overnight Price: $0.26 

Moelis rates ((AMI)) as Buy (1) –

Moelis notes copper has traded in a relatively tight range throughout the March quarter before weakening late to close at US$5.50/lb.

Amid a growing narrative of potential price weakness as US stockpiles are unwound, the price has held up, which the broker suggests could be a reminder that decarbonisation remains essential to negate reliance on fossil fuel supplies.

Prices are increased between 8-11% throughout the forecast period. Long-term estimates are increased by around 2% and are now at US$4.66/lb.

Moelis has also made upward revisions to capital and operating expenditures to reflect the re-emergence of inflation, which negates some of the upside to cash flow and therefore valuation.

Buy rating maintained for Aurelia Metals with the target edging up to $0.44 from $0.43.

This report was published on April 7, 2026.

Target price is $0.44 Current Price is $0.26 Difference: $0.18
If AMI meets the Moelis target it will return approximately 69% (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 4.00 cents.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 6.50.

Forecast for FY27:

Moelis 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 4.33.

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

CPU    COMPUTERSHARE LIMITED

Diversified Financials – Overnight Price: $28.33 

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

Jarden maintains an Underweight rating for Computershare with 30.00 price target following an assessment of tokenisation risks to the Transfer Agent (TA) franchise.

Securities law mandates, corporate actions complexity, and switching costs serve as key defenses, though none are considered sufficient to fully protect the business from structural disruption.

Regulatory oversight remains a legal requirement, but competitors like Securitize have registered as TAs, demonstrating licensing does not serve as an exclusive moat for incumbents.

Development of smart contract functionality by exchanges like DTCC and Nasdaq is expected to reduce the complexity advantage over time.

Switching costs and existing digital capabilities represent competitive advantages rather than structural barriers, with risk of erosion as new issuers adopt tokenised platforms.

The report states valuation reflects ongoing uncertainty regarding interest rates, capital market activity, and the long-term impact of structural disruption.

This report was published on March 31, 2026.

Target price is $30.00 Current Price is $28.33 Difference: $1.67
If CPU meets the Jarden target it will return approximately 6% (excluding dividends, fees and charges).
Current consensus price target is $35.61, suggesting upside of 23.2%(ex-dividends)
The company’s fiscal year ends in June.

Forecast for FY26:

Jarden forecasts a full year FY26 dividend of 116.90 cents and EPS of 219.14 cents.
At the last closing share price the estimated dividend yield is 4.13%.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 12.93.

How do these forecasts compare to market consensus projections?

Current consensus EPS estimate is 209.3, implying annual growth of N/A.
Current consensus DPS estimate is 116.5, implying a prospective dividend yield of 4.0%.
Current consensus EPS estimate suggests the PER is 13.8

Forecast for FY27:

Jarden forecasts a full year FY27 dividend of 118.30 cents and EPS of 221.70 cents.
At the last closing share price the estimated dividend yield is 4.18%.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 12.78.

How do these forecasts compare to market consensus projections?

Current consensus EPS estimate is 212.4, implying annual growth of 1.5%.
Current consensus DPS estimate is 116.0, implying a prospective dividend yield of 4.0%.
Current consensus EPS estimate suggests the PER is 13.6

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

CU6    CLARITY PHARMACEUTICALS LIMITED

Medical Equipment & Devices – Overnight Price: $3.25 

Canaccord Genuity rates ((CU6)) as Buy (1) –

Canaccord Genuity maintains a Buy rating on Clarity Pharmaceuticals with a $8.41 price target after lowering it from $9.00 due to FX and timeline adjustments.

The broker highlights the upcoming Phase III diagnostic trials Clarify and Cobra-Kai as key milestones for the company’s prostate cancer imaging agent.

Commentary explains Clarity’s platform is distinguished by its use of copper for both imaging and therapy, which simplifies logistics compared to traditional radiopharmaceuticals.

Future valuation is supported by the therapeutic pipeline, despite the nearer-term commercial potential of the diagnostic products, the report concludes.

This report was published on April 8, 2026.

Target price is $8.41 Current Price is $3.25 Difference: $5.16
If CU6 meets the Canaccord Genuity target it will return approximately 159% (excluding dividends, fees and charges).
The company’s fiscal year ends in June.

Forecast for FY26:

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

Forecast for FY27:

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

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: $2.74 

Shaw and Partners rates ((DUR)) as Buy, High Risk (1) –

Following Duratec’s Investor Day, Shaw and Partners highlights a diversified revenue base and exposure to a large addressable market estimated at $140bn-$170bn.

Increased global investment in energy and defence infrastructure is seen as supporting medium-term growth, with the broker’s earnings forecasts lifted modestly across FY27-FY28.

Duratec is viewed as well positioned to benefit from defence spending, energy transition opportunities and sustained mining investment, underpinned by a strong order book and scalable platform.

Shaw raises its target to $3.00 from $2.40 and retains a Buy, High Risk rating.

This report was published on April 2, 2026.

Target price is $3.00 Current Price is $2.74 Difference: $0.26
If DUR meets the Shaw and Partners target it will return approximately 9% (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 1.57%.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 26.86.

Forecast for FY27:

Shaw and Partners forecasts a full year FY27 dividend of 5.00 cents and EPS of 11.20 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 24.46.

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

GL1    GLOBAL LITHIUM RESOURCES LIMITED

New Battery Elements – Overnight Price: $0.50 

Shaw and Partners rates ((GL1)) as Reinstate Coverage with Buy (1) –

Shaw and Partners reinstates coverage of Global Lithium Resources with a Buy rating and $1.50 target. The broker observes the company is rapidly moving its Manna lithium project into production having secured native title and a mining lease.

The project is considered a “premier” asset of world-class ranking, being the third-largest hard rock lithium resource in the eastern goldfields.

The broker also points out the project is underpinned by major industry operators such as Mineral Resources ((MIN)) which holds a 9.9% strategic stake, while the assets are located close to the world-class Wodgina and Mount Marion mines.

Shaw and Partners expects a supply deficit in the lithium market by the end of 2026 of -20k-80k metric tonnes.

This report was published on April 8, 2026.

Target price is $1.50 Current Price is $0.50 Difference: $1
If GL1 meets the Shaw and Partners target it will return approximately 200% (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 minus 1.50 cents.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is minus 33.33.

Forecast for FY27:

Shaw and Partners forecasts a full year FY27 dividend of 0.00 cents and EPS of minus 4.60 cents.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is minus 10.87.

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

MQG    MACQUARIE GROUP LIMITED

Wealth Management & Investments – Overnight Price: $224.10 

Jarden rates ((MQG)) as Buy (1) –

Australian private sector credit growth was 7.8% year-on-year in February 2026, and business credit growth remained strong, rising by 9.5%, observes Jarden.

The broker notes Macquarie Group continues to outperform the major banks, supported by a superior, fully digitised platform.

At the current pace, the group is expected to surpass around 10% market share on both sides of the balance sheet in the near term.

Jarden retains a Buy rating and $240 target for Macquarie Group.

This report was published on March 31, 2026.

Target price is $240.00 Current Price is $224.10 Difference: $15.9
If MQG meets the Jarden target it will return approximately 7% (excluding dividends, fees and charges).
Current consensus price target is $229.30, suggesting upside of 2.7%(ex-dividends)
The company’s fiscal year ends in March.

Forecast for FY26:

Jarden forecasts a full year FY26 dividend of 700.00 cents and EPS of 1091.40 cents.
At the last closing share price the estimated dividend yield is 3.12%.
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 1127.4, implying annual growth of 15.1%.
Current consensus DPS estimate is 718.5, implying a prospective dividend yield of 3.2%.
Current consensus EPS estimate suggests the PER is 19.8

Forecast for FY27:

Jarden forecasts a full year FY27 dividend of 830.00 cents and EPS of 1296.40 cents.
At the last closing share price the estimated dividend yield is 3.70%.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 17.29.

How do these forecasts compare to market consensus projections?

Current consensus EPS estimate is 1195.1, implying annual growth of 6.0%.
Current consensus DPS estimate is 773.5, implying a prospective dividend yield of 3.5%.
Current consensus EPS estimate suggests the PER is 18.7

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

NST    NORTHERN STAR RESOURCES LIMITED

Gold & Silver – Overnight Price: $22.35 

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

Jarden lifts its long-term gold and silver price forecasts toUS$3000/oz real from FY31 for gold and US$40/oz real for silver, although also increases near-term cost assumptions to reflect fuel supply disruption.

Production forecasts are not yet constrained, although the broker considers this a “real and increasing risk” should fuel shortages escalate.

Low-grade open pit operations, which includes those of Northern Star Resources, are most exposed.

Rating is Underweight as the broker struggles to identify a positive catalyst for Northern Star Resources. Target is raised to $22.50 from $16.60.

This report was published on April 3, 2026.

Target price is $22.50 Current Price is $22.35 Difference: $0.15
If NST meets the Jarden target it will return approximately 1% (excluding dividends, fees and charges).
Current consensus price target is $27.65, suggesting upside of 15.9%(ex-dividends)
The company’s fiscal year ends in June.

Forecast for FY26:

Jarden forecasts a full year FY26 dividend of 50.00 cents and EPS of 116.00 cents.
At the last closing share price the estimated dividend yield is 2.24%.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 19.27.

How do these forecasts compare to market consensus projections?

Current consensus EPS estimate is 126.8, implying annual growth of 12.6%.
Current consensus DPS estimate is 50.0, implying a prospective dividend yield of 2.1%.
Current consensus EPS estimate suggests the PER is 18.8

Forecast for FY27:

Jarden forecasts a full year FY27 dividend of 50.00 cents and EPS of 146.00 cents.
At the last closing share price the estimated dividend yield is 2.24%.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 15.31.

How do these forecasts compare to market consensus projections?

Current consensus EPS estimate is 202.3, implying annual growth of 59.5%.
Current consensus DPS estimate is 69.5, implying a prospective dividend yield of 2.9%.
Current consensus EPS estimate suggests the PER is 11.8

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

PLY    PLAYSIDE STUDIOS LIMITED

Gaming – Overnight Price: $0.27 

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

Playside Studios will launch Mouse: P.I. For Hire on April 16.

Shaw and Partners highlights review count is the best “post-launch metric to track” and envisages a unique opportunity in the company which has invested substantially in its original IP portfolio over the last 18 months.

The broker continues to believe this will be a major revenue generator and reiterates its Buy rating. Target is $0.44.

This report was published on April 9, 2026.

Target price is $0.44 Current Price is $0.27 Difference: $0.175
If PLY meets the Shaw and Partners target it will return approximately 66% (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 2.80 cents.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 9.46.

Forecast for FY27:

Shaw and Partners forecasts a full year FY27 dividend of 0.00 cents and EPS of 2.60 cents.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 10.19.

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

RMS    RAMELIUS RESOURCES LIMITED

Gold & Silver – Overnight Price: $4.10 

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

Ramelius Resources delivered preliminary March quarter production results revealing 38,100 ounces.

Shaw and Partners points out March production continues to show sequentially falling FY26 production. The quarter was affected by a planned 6-day plant shutdown and high rainfall associated with Cyclone Narelle.

The delays have also bolstered the high-grade stockpiles which the company expects will contribute to a stronger fourth quarter as will a return to high-grade mining at the Cue pits.

FY26 production is expected around the midpoint of guidance of 18.5k-205k ounces.

The broker transfers coverage of Ramelius Resources to Alex Barkley. Buy rating and $6.50 target retained.

This report was published on April 9, 2026.

Target price is $6.50 Current Price is $4.10 Difference: $2.4
If RMS meets the Shaw and Partners target it will return approximately 59% (excluding dividends, fees and charges).
Current consensus price target is $5.29, suggesting upside of 31.3%(ex-dividends)
The company’s fiscal year ends in June.

Forecast for FY26:

Shaw and Partners forecasts a full year FY26 dividend of 5.00 cents and EPS of 23.40 cents.
At the last closing share price the estimated dividend yield is 1.22%.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 17.52.

How do these forecasts compare to market consensus projections?

Current consensus EPS estimate is 17.7, implying annual growth of -57.0%.
Current consensus DPS estimate is 4.5, implying a prospective dividend yield of 1.1%.
Current consensus EPS estimate suggests the PER is 22.8

Forecast for FY27:

Shaw and Partners forecasts a full year FY27 dividend of 10.50 cents and EPS of 46.90 cents.
At the last closing share price the estimated dividend yield is 2.56%.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 8.74.

How do these forecasts compare to market consensus projections?

Current consensus EPS estimate is 31.0, implying annual growth of 75.1%.
Current consensus DPS estimate is 5.9, implying a prospective dividend yield of 1.5%.
Current consensus EPS estimate suggests the PER is 13.0

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

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