Daily Market Reports | Apr 23 2026
This story features ASTRAL RESOURCES NL, and other companies.
For more info SHARE ANALYSIS: AAR
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)
AAR ACW CGF HGO HUB (3) LNW LRK LYC MAF PDI STM
AAR ASTRAL RESOURCES NL
Gold & Silver – Overnight Price: $0.19
Canaccord Genuity rates ((AAR)) as Speculative Buy (1) –
Canaccord Genuity maintains a Speculative Buy rating and $1.20 price target for Astral Resources following a resource upgrade at the Mandilla gold project.
The broker observes the consolidated group resource estimate grew to 2.07m ounces, representing a 22% increase in contained gold.
Infill drilling provides strong validation of the geological interpretation and estimation methodology, with the Theia deposit now extending over a 1,600 metre strike.
Conceptual mining studies indicate potential for underground operations beneath the planned open pit, supporting further resource expansion.
No updates have been made to earnings forecasts, as the company remains an explorer without active production revenue.
This report was published on April 21, 2026.
Target price is $1.20 Current Price is $0.19 Difference: $1.01
If AAR meets the Canaccord Genuity target it will return approximately 532% (excluding dividends, fees and charges).
The company’s fiscal year ends in June.
Forecast for FY26:
Canaccord Genuity forecasts a full year FY26 dividend of 0.00 cents and EPS of minus 0.30 cents.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is minus 63.33.
Forecast for FY27:
Canaccord Genuity forecasts a full year FY27 dividend of 0.00 cents and EPS of minus 0.90 cents.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is minus 21.11.
All consensus data are updated until yesterday. FNArena’s consensus calculations require a minimum of three sources
ACW ACTINOGEN MEDICAL LIMITED
Pharmaceuticals & Biotech/Lifesciences – Overnight Price: $0.04
Canaccord Genuity rates ((ACW)) as Speculative Buy (1) –
Canaccord Genuity maintains a Speculative Buy rating and $0.08 price target for Actinogen Medical following a Cochrane Library review critical of the anti-amyloid class of drugs for Alzheimer’s disease.
The review indicates anti-amyloid-beta antibody therapies provide a trivial benefit for patients with mild cognitive impairment or mild dementia.
The analysts observe this conclusion casts significant doubt on the prevailing amyloid hypothesis and associated treatments.
The broker views this development as positive for the company’s alternative approach, which targets cortisol biology using its Xanamem agent.
No updates have been made to earnings forecasts.
This report was published on April 22, 2026.
Target price is $0.08 Current Price is $0.04 Difference: $0.036
If ACW meets the Canaccord Genuity target it will return approximately 82% (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.
All consensus data are updated until yesterday. FNArena’s consensus calculations require a minimum of three sources
CGF CHALLENGER LIMITED
Wealth Management & Investments – Overnight Price: $8.31
Jarden rates ((CGF)) as Neutral (3) –
Challenger is rated Neutral with an $8.70 price target at Jarden, with no changes made following the 3Q26 update.
The broker observes group sales missed consensus across key metrics while funds management outflows were significantly worse than expected.
Commentary posits the planned redemption of all capital notes on 25 May 2026 provides a headline positive offset by simplifying the capital structure and reducing coupon burdens.
The analysts expect this redemption to be accretive to earnings while providing future capital management flexibility under potential regulatory reforms.
Investors face balanced risk and reward as persistent outflows compete with expanding retirement partnerships across superfunds.
This report was published on April 21, 2026.
Target price is $8.70 Current Price is $8.31 Difference: $0.39
If CGF meets the Jarden target it will return approximately 5% (excluding dividends, fees and charges).
Current consensus price target is $9.58, suggesting upside of 15.3%(ex-dividends)
The company’s fiscal year ends in June.
Forecast for FY26:
Jarden forecasts a full year FY26 dividend of 31.00 cents and EPS of 67.80 cents.
At the last closing share price the estimated dividend yield is 3.73%.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 12.26.How do these forecasts compare to market consensus projections?
Current consensus EPS estimate is 66.2, implying annual growth of 136.4%.
Current consensus DPS estimate is 31.0, implying a prospective dividend yield of 3.7%.
Current consensus EPS estimate suggests the PER is 12.6.
Forecast for FY27:
Jarden forecasts a full year FY27 dividend of 34.00 cents and EPS of 75.30 cents.
At the last closing share price the estimated dividend yield is 4.09%.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 11.04.How do these forecasts compare to market consensus projections?
Current consensus EPS estimate is 69.4, implying annual growth of 4.8%.
Current consensus DPS estimate is 34.5, implying a prospective dividend yield of 4.2%.
Current consensus EPS estimate suggests the PER is 12.0.
Market Sentiment: 0.8
All consensus data are updated until yesterday. FNArena’s consensus calculations require a minimum of three sources
HGO HILLGROVE RESOURCES LIMITED
Copper – Overnight Price: $0.04
Moelis rates ((HGO)) as Buy (1) –
Hillgrove Resources delivered strong March quarter production resulting in lower costs and increased cash buildup. The company produced 3,100t copper and has reiterated 2026 guidance for 12,750-14,000t copper.
The company is the most leveraged copper exposure within the Moelis base metal coverage and is expected to significantly benefit from the current price environment.
The stock also appears cheap despite at times looking higher risk, the broker adds. Buy rating and 7.5c target.
On second assessment, EPS forecasts seem to have been slightly reduced.
This report was published on April 23, 2026.
Target price is $0.08 Current Price is $0.04 Difference: $0.034
If HGO meets the Moelis target it will return approximately 83% (excluding dividends, fees and charges).
The company’s fiscal year ends in December.
Forecast for FY26:
Moelis forecasts a full year FY26 dividend of 0.00 cents and EPS of 0.70 cents.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 5.86.
Forecast for FY27:
Moelis forecasts a full year FY27 dividend of 0.00 cents and EPS of 0.80 cents.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 5.13.
All consensus data are updated until yesterday. FNArena’s consensus calculations require a minimum of three sources
HUB HUB24 LIMITED
Wealth Management & Investments – Overnight Price: $85.76
Canaccord Genuity rates ((HUB)) as Buy (1) –
Canaccord Genuity maintains a Buy rating and lowers its price target to $102.60 for HUB24 following this week’s third-quarter update.
Platform net inflows of $4.0bn slightly missed expectations due to a one-off institutional outflow, though underlying retail flows delivered strong growth over the previous year, the broker points out.
The company anticipates holding onto most funds under administration despite delays to the closure of the Xplore managed discretionary account.
Management expects to meet the upgraded FY27 platform capacity guidance of $160bn to $170bn as the structural shift toward independent platforms continues and adviser growth reaches a two-year high.
Canaccord Genuity considers the recent share price retreat a short-term reaction and expects the stock to trend back toward its historical multiples as underlying business momentum accelerates.
This report was published on April 21, 2026.
Target price is $102.60 Current Price is $85.76 Difference: $16.84
If HUB meets the Canaccord Genuity target it will return approximately 20% (excluding dividends, fees and charges).
Current consensus price target is $104.69, suggesting upside of 22.1%(ex-dividends)
The company’s fiscal year ends in June.
Forecast for FY26:
Canaccord Genuity forecasts a full year FY26 dividend of 76.00 cents and EPS of 160.00 cents.
At the last closing share price the estimated dividend yield is 0.89%.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 53.60.How do these forecasts compare to market consensus projections?
Current consensus EPS estimate is 161.2, implying annual growth of 64.2%.
Current consensus DPS estimate is 77.8, implying a prospective dividend yield of 0.9%.
Current consensus EPS estimate suggests the PER is 53.2.
Forecast for FY27:
Canaccord Genuity forecasts a full year FY27 dividend of 95.00 cents and EPS of 180.00 cents.
At the last closing share price the estimated dividend yield is 1.11%.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 47.64.How do these forecasts compare to market consensus projections?
Current consensus EPS estimate is 188.7, implying annual growth of 17.1%.
Current consensus DPS estimate is 93.7, implying a prospective dividend yield of 1.1%.
Current consensus EPS estimate suggests the PER is 45.4.
Market Sentiment: 0.6
All consensus data are updated until yesterday. FNArena’s consensus calculations require a minimum of three sources
Jarden rates ((HUB)) as Buy (1) –
Jarden maintains a Buy rating and $115.30 price target for Hub24 following the platform operator’s March quarter update.
The broker observes group net inflows missed expectations due to a one-off institutional client exit despite strong growth in the core retail segment.
Management remains confident in meeting its FY27 platform capacity guidance as the broader structural shift toward independent platforms continues.
The -8.3% share price retreat is seen as an overreaction to market volatility rather than a change in business fundamentals.
Upgraded earnings estimates for the 2027 financial year reflect improved margin outlooks from cash balances and growing scale across the technology stack.
This report was published on April 21, 2026.
Target price is $115.30 Current Price is $85.76 Difference: $29.54
If HUB meets the Jarden target it will return approximately 34% (excluding dividends, fees and charges).
Current consensus price target is $104.69, suggesting upside of 22.1%(ex-dividends)
The company’s fiscal year ends in June.
Forecast for FY26:
Jarden forecasts a full year FY26 dividend of 73.80 cents and EPS of 162.50 cents.
At the last closing share price the estimated dividend yield is 0.86%.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 52.78.How do these forecasts compare to market consensus projections?
Current consensus EPS estimate is 161.2, implying annual growth of 64.2%.
Current consensus DPS estimate is 77.8, implying a prospective dividend yield of 0.9%.
Current consensus EPS estimate suggests the PER is 53.2.
Forecast for FY27:
Jarden forecasts a full year FY27 dividend of 79.60 cents and EPS of 174.70 cents.
At the last closing share price the estimated dividend yield is 0.93%.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 49.09.How do these forecasts compare to market consensus projections?
Current consensus EPS estimate is 188.7, implying annual growth of 17.1%.
Current consensus DPS estimate is 93.7, implying a prospective dividend yield of 1.1%.
Current consensus EPS estimate suggests the PER is 45.4.
Market Sentiment: 0.6
All consensus data are updated until yesterday. FNArena’s consensus calculations require a minimum of three sources
Moelis rates ((HUB)) as Buy (1) –
Hub24 delivered platform net flows that beat Moelis estimates with active advisers accelerating in the quarter and supporting future flows.
The company also announced the acquisition and internalisation of its super fund trustee.
Hub24’s fast-paced technology development embedding advisers, along with strong industry tailwinds, provides the broker with confidence in the earnings outlook.
EPS estimates are reduced by -2.6% for FY26 and -5.5% for FY27, largely reflective of flows and the FUA mix from the update.
Buy rating retained. Target is reduced to $119.12 from $123.04.
This report was published on April 21, 2026.
Target price is $119.12 Current Price is $85.76 Difference: $33.36
If HUB meets the Moelis target it will return approximately 39% (excluding dividends, fees and charges).
Current consensus price target is $104.69, suggesting upside of 22.1%(ex-dividends)
The company’s fiscal year ends in June.
Forecast for FY26:
Moelis forecasts a full year FY26 dividend of 75.20 cents and EPS of 157.40 cents.
At the last closing share price the estimated dividend yield is 0.88%.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 54.49.How do these forecasts compare to market consensus projections?
Current consensus EPS estimate is 161.2, implying annual growth of 64.2%.
Current consensus DPS estimate is 77.8, implying a prospective dividend yield of 0.9%.
Current consensus EPS estimate suggests the PER is 53.2.
Forecast for FY27:
Moelis forecasts a full year FY27 dividend of 89.10 cents and EPS of 186.10 cents.
At the last closing share price the estimated dividend yield is 1.04%.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 46.08.How do these forecasts compare to market consensus projections?
Current consensus EPS estimate is 188.7, implying annual growth of 17.1%.
Current consensus DPS estimate is 93.7, implying a prospective dividend yield of 1.1%.
Current consensus EPS estimate suggests the PER is 45.4.
Market Sentiment: 0.6
All consensus data are updated until yesterday. FNArena’s consensus calculations require a minimum of three sources
LNW LIGHT & WONDER INC
Gaming – Overnight Price: $125.03
Jarden rates ((LNW)) as Buy (1) –
Jarden maintains a Buy rating and $190.00 price target for Light & Wonder ahead of the company’s first-quarter earnings update.
The broker anticipates a soft quarter with operating earnings of $326m sitting -5% below consensus expectations.
Margin pressures in the gaming segment reflect market entry investments for the Grover Indiana rollout alongside steady tariff costs.
Despite short-term headwinds, commentary notes underlying market demand remains robust and the core replacement cycle is holding up well.
The analysts consider the recent -8% share price retreat an overreaction and view the current entry point as compelling.
This report was published on April 21, 2026.
Target price is $190.00 Current Price is $125.03 Difference: $64.97
If LNW meets the Jarden target it will return approximately 52% (excluding dividends, fees and charges).
Current consensus price target is $200.00, suggesting upside of 60.0%(ex-dividends)
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 1172.27 cents.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 10.67.How do these forecasts compare to market consensus projections?
Current consensus EPS estimate is 1020.1, 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 12.3.
Forecast for FY27:
Jarden forecasts a full year FY27 dividend of 0.00 cents and EPS of 1375.90 cents.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 9.09.How do these forecasts compare to market consensus projections?
Current consensus EPS estimate is 1214.0, implying annual growth of 19.0%.
Current consensus DPS estimate is 68.7, implying a prospective dividend yield of 0.5%.
Current consensus EPS estimate suggests the PER is 10.3.
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
LRK LARK DISTILLING CO. LIMITED
Food, Beverages & Tobacco – Overnight Price: $0.90
Moelis rates ((LRK)) as Buy (1) –
Lark Distilling delivered net sales in the third quarter of $4.3m. Direct exports of $400,000 were lighter than expected.
Operating cash outflow of -$2.1m was larger than anticipated by Moelis because of the timing of cash receipts.
The broker notes global spirits sector multiples have de-rated significantly since covid, yet at the current share price the downside should be supported by asset backing, while export market growth provides re-rating potential into FY27.
Moelis retains a Buy rating and raises its target to $1.00 from $0.88.
This report was published on April 21, 2026.
Target price is $1.00 Current Price is $0.90 Difference: $0.1
If LRK meets the Moelis target it will return approximately 11% (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 minus 3.10 cents.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is minus 29.03.
Forecast for FY27:
Moelis forecasts a full year FY27 dividend of 0.00 cents and EPS of minus 3.80 cents.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is minus 23.68.
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: $19.71
Canaccord Genuity rates ((LYC)) as Buy (1) –
Canaccord Genuity maintains a Buy rating and $22.00 price target for Lynas Rare Earths following a softer March quarter production update.
The broker observes NdPr production missed expectations due to lower output from the Kalgoorlie facility during process improvements.
Higher average selling prices from an optimised product mix and rising Chinese prices helped offset the lower sales volumes.
FY26 earnings estimates are downgraded to reflect reduced near-term production and higher operating costs for fuel and acid.
Despite short-term operational challenges, the longer-term market outlook remains positive and firming up downstream magnet plans could provide a material valuation catalyst, the report suggests.
This report was published on April 21, 2026.
Target price is $22.00 Current Price is $19.71 Difference: $2.29
If LYC meets the Canaccord Genuity target it will return approximately 12% (excluding dividends, fees and charges).
Current consensus price target is $17.77, suggesting downside of -9.9%(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 29.00 cents.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 67.97.How do these forecasts compare to market consensus projections?
Current consensus EPS estimate is 32.1, implying annual growth of 3676.5%.
Current consensus DPS estimate is N/A, implying a prospective dividend yield of N/A.
Current consensus EPS estimate suggests the PER is 61.4.
Forecast for FY27:
Canaccord Genuity forecasts a full year FY27 dividend of 0.00 cents and EPS of 93.00 cents.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 21.19.How do these forecasts compare to market consensus projections?
Current consensus EPS estimate is 68.0, implying annual growth of 111.8%.
Current consensus DPS estimate is N/A, implying a prospective dividend yield of N/A.
Current consensus EPS estimate suggests the PER is 29.0.
Market Sentiment: -0.2
All consensus data are updated until yesterday. FNArena’s consensus calculations require a minimum of three sources
MAF MA FINANCIAL GROUP LIMITED
Wealth Management & Investments – Overnight Price: $6.87
Canaccord Genuity rates ((MAF)) as Buy (1) –
Canaccord Genuity maintains a Buy rating and lowers the price target for MA Financial Group Limited to $11.10 following the first-quarter update.
Total net inflows of $141m missed expectations, although the retail and high-net-worth segment performed strongly with $156m of net inflows.
Growth was heavily supported by the Priority Income Fund, which secured $170m and continues to track ahead of performance targets.
Revisions to earnings forecasts reflect a softer net flow outlook, though the broker believes the underlying loan book remains sound with no visible erosion in asset quality.
The analyst views the recent share price underperformance as a temporary reaction and considers the current valuation an attractive entry point.
One day prior, the response had been as follows:
Canaccord Genuity maintains a Buy rating and $11.30 price target for MA Financial following a Q1 FY26 update highlighting strong momentum in the Priority Income Fund.
The broker expects net inflows of $430m, excluding the Marion mandate loss and MA Aged Care fund wind-up. Managed assets are targeting an ending balance of $15.1bn, while the Redcape property fund delivered 2.93% quarterly performance to support possible 2H FY26 performance fees.
Strategic expansion into commercial lending targets average monthly settlements of $1bn, commentary highlights, which would provide a significant contribution relative to historical levels.
Management remains cautious of consumer strain impacts on MA Money loan losses, but anticipates credit quality concerns will abate as offshore markets stabilise.
This report was published on April 21, 2026.
Target price is $11.10 Current Price is $6.87 Difference: $4.23
If MAF meets the Canaccord Genuity target it will return approximately 62% (excluding dividends, fees and charges).
Current consensus price target is $10.18, suggesting upside of 48.1%(ex-dividends)
The company’s fiscal year ends in December.
Forecast for FY26:
Canaccord Genuity forecasts a full year FY26 dividend of 20.00 cents and EPS of 46.00 cents.
At the last closing share price the estimated dividend yield is 2.91%.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 14.93.How do these forecasts compare to market consensus projections?
Current consensus EPS estimate is 49.3, implying annual growth of 690.1%.
Current consensus DPS estimate is 27.7, implying a prospective dividend yield of 4.0%.
Current consensus EPS estimate suggests the PER is 13.9.
Forecast for FY27:
Canaccord Genuity forecasts a full year FY27 dividend of 20.00 cents and EPS of 57.00 cents.
At the last closing share price the estimated dividend yield is 2.91%.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 12.05.How do these forecasts compare to market consensus projections?
Current consensus EPS estimate is 56.6, implying annual growth of 14.8%.
Current consensus DPS estimate is 32.5, implying a prospective dividend yield of 4.7%.
Current consensus EPS estimate suggests the PER is 12.1.
Market Sentiment: 1.0
All consensus data are updated until yesterday. FNArena’s consensus calculations require a minimum of three sources
PDI PREDICTIVE DISCOVERY LIMITED
Gold & Silver – Overnight Price: $0.96
Canaccord Genuity rates ((PDI)) as Speculative Buy (1) –
Canaccord Genuity maintains a Speculative Buy rating and $1.64 price target for Predictive Discovery following its merger with Robex Resources.
The transaction transforms the business into a formidable West African gold producer by combining two large and low-cost projects in Guinea.
Production at the newly rebuilt Kiniero mine is ramping up quickly, with expectations of delivering 140,000 ounces in 2026.
The analysts anticipate the nearby Bankan project will soon receive its exploitation licence, pushing group production above 400,000 ounces per annum by 2029.
The broker highlights a compelling growth profile supported by strong free cash flow yields and realistic capital expenditure estimates.
This report was published on April 22, 2026.
Target price is $1.64 Current Price is $0.96 Difference: $0.675
If PDI meets the Canaccord Genuity target it will return approximately 70% (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 19.00 cents.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 5.08.
Forecast for FY27:
Canaccord Genuity forecasts a full year FY27 dividend of 0.00 cents and EPS of 11.00 cents.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 8.77.
Market Sentiment: 1.0
All consensus data are updated until yesterday. FNArena’s consensus calculations require a minimum of three sources
STM SUNSTONE METALS LIMITED
Copper – Overnight Price: $0.40
Shaw and Partners rates ((STM)) as Buy (1) –
Shaw and Partners maintains a Buy recommendation and $2.10 price target for Sunstone Metals following a compelling scoping study for the Bramaderos project.
The study outlines a path to transforming Ecuadorian assets into a top-tier gold-copper district with an initial 23-year mine life.
The analysts observe the project generates a post-tax NPV of $0.9bn at a base case gold price of $3,500/oz, significantly below current spot levels.
Strategic advantages include low-altitude operations adjacent to the Pan-American Highway and access to regional hydroelectric power.
Management continues engaging with potential strategic partners to accelerate development and support a final investment decision by 2029.
This report was published on April 22, 2026.
Target price is $2.10 Current Price is $0.40 Difference: $1.705
If STM meets the Shaw and Partners target it will return approximately 432% (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 1.20 cents.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is minus 32.92.
Forecast for FY27:
Shaw and Partners forecasts a full year FY27 dividend of 0.00 cents and EPS of minus 0.90 cents.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is minus 43.89.
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.
<span style="
Click to view our Glossary of Financial Terms
CHARTS
For more info SHARE ANALYSIS: AAR - ASTRAL RESOURCES NL
For more info SHARE ANALYSIS: ACW - ACTINOGEN MEDICAL LIMITED
For more info SHARE ANALYSIS: CGF - CHALLENGER LIMITED
For more info SHARE ANALYSIS: HGO - HILLGROVE RESOURCES LIMITED
For more info SHARE ANALYSIS: HUB - HUB24 LIMITED
For more info SHARE ANALYSIS: LNW - LIGHT & WONDER INC
For more info SHARE ANALYSIS: LRK - LARK DISTILLING CO. LIMITED
For more info SHARE ANALYSIS: LYC - LYNAS RARE EARTHS LIMITED
For more info SHARE ANALYSIS: MAF - MA FINANCIAL GROUP LIMITED
For more info SHARE ANALYSIS: PDI - PREDICTIVE DISCOVERY LIMITED
For more info SHARE ANALYSIS: STM - SUNSTONE METALS LIMITED

