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Australian Broker Call *Extra* Edition – Apr 27, 2026

Daily Market Reports | Apr 27 2026

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(
    [0] => Array
        (
            [0] => ((ALC))
            [1] => ((AMA))
            [2] => ((ASX))
            [3] => ((BOQ))
            [4] => ((BXB))
            [5] => ((CBE))
            [6] => ((COH))
            [7] => ((COH))
            [8] => ((ELV))
            [9] => ((EQR))
            [10] => ((GDG))
            [11] => ((GHM))
            [12] => ((HGO))
            [13] => ((HMY))
            [14] => ((IKE))
            [15] => ((ILU))
            [16] => ((MGR))
            [17] => ((MPW))
            [18] => ((NST))
            [19] => ((NST))
            [20] => ((ORE))
            [21] => ((PLT))
            [22] => ((NAB))
            [23] => ((PLT))
            [24] => ((PPS))
            [25] => ((PPS))
            [26] => ((PRU))
            [27] => ((QOR))
            [28] => ((REG))
            [29] => ((RRL))
            [30] => ((RSG))
            [31] => ((SFR))
            [32] => ((SFR))
            [33] => ((STO))
            [34] => ((VAU))
            [35] => ((VAU))
            [36] => ((WAF))
        )

    [1] => Array
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            [0] => ALC
            [1] => AMA
            [2] => ASX
            [3] => BOQ
            [4] => BXB
            [5] => CBE
            [6] => COH
            [7] => COH
            [8] => ELV
            [9] => EQR
            [10] => GDG
            [11] => GHM
            [12] => HGO
            [13] => HMY
            [14] => IKE
            [15] => ILU
            [16] => MGR
            [17] => MPW
            [18] => NST
            [19] => NST
            [20] => ORE
            [21] => PLT
            [22] => NAB
            [23] => PLT
            [24] => PPS
            [25] => PPS
            [26] => PRU
            [27] => QOR
            [28] => REG
            [29] => RRL
            [30] => RSG
            [31] => SFR
            [32] => SFR
            [33] => STO
            [34] => VAU
            [35] => VAU
            [36] => WAF
        )

)
List StockArray ( [0] => ALC [1] => AMA [2] => ASX [3] => BOQ [4] => BXB [5] => CBE [6] => COH [7] => COH [8] => ELV [9] => EQR [10] => GDG [11] => GHM [12] => HGO [13] => HMY [14] => IKE [15] => ILU [16] => MGR [17] => MPW [18] => NST [19] => NST [20] => ORE [21] => PLT [22] => NAB [23] => PLT [24] => PPS [25] => PPS [26] => PRU [27] => QOR [28] => REG [29] => RRL [30] => RSG [31] => SFR [32] => SFR [33] => STO [34] => VAU [35] => VAU [36] => WAF )

This story features ALCIDION GROUP LIMITED, and other companies.
For more info SHARE ANALYSIS: ALC

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)

ALC   AMA   ASX   BOQ   BXB   CBE   COH (2)   ELV   EQR   GDG   GHM   HGO   HMY   IKE   ILU   MGR   MPW   NST (2)   ORE   PLT (2)   PPS (2)   PRU   QOR   REG   RRL   RSG   SFR (2)   STO   VAU (2)   WAF  

ALC    ALCIDION GROUP LIMITED

Healthcare services – Overnight Price: $0.11

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

Canaccord Genuity maintains a Buy rating and $0.14 price target for Alcidion Group following a key opinion leader call regarding the NHS Frontline Productivity program in the UK.

A new GBP2.5bn funding scheme shifts focus from basic electronic patient record implementations towards optimising existing digital assets for operational efficiency.

The analysts observe this strategic pivot aligns seamlessly with the company’s modular patient flow and monitoring solutions.

The initiative is anticipated to support a transition toward more predictable annual recurring revenue once funding allocations begin in late 2026.

Management appears well-positioned to demonstrate the required return on investment metrics to secure regional contracts, the report concludes.

This report was published on April 22, 2026.

Target price is $0.14 Current Price is $0.11 Difference: $0.03
If ALC meets the Canaccord Genuity target it will return approximately 27% (excluding dividends, fees and charges).
The company’s fiscal year ends in June.

Forecast for FY26:

Canaccord Genuity forecasts a full year FY26 dividend of 0.00 cents and EPS of 0.20 cents.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 55.00.

Forecast for FY27:

Canaccord Genuity forecasts a full year FY27 dividend of 0.00 cents and EPS of 0.20 cents.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 55.00.

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

AMA    AMA GROUP LIMITED

Automobiles & Components – Overnight Price: $0.58

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

Canaccord Genuity maintains a Buy rating and $1.20 price target for AMA Group following a favourable third-quarter trading update.

Management maintained FY26 underlying earnings guidance of $70m to $75m after delivering $48.4m in the year to date.

The broker expects the company to easily achieve the bottom end of this target, requiring just $21.6m in the final quarter.

Despite this operational momentum, near-term revenue and earnings forecasts have been slightly downgraded to reflect softer division mix revisions.

Canaccord Genuity argues valuation remains compelling as underlying profitability continues to improve across the broader collision repair network.

This report was published on April 22, 2026.

Target price is $1.20 Current Price is $0.58 Difference: $0.62
If AMA meets the Canaccord Genuity target it will return approximately 107% (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 2.70 cents.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 21.48.

Forecast for FY27:

Canaccord Genuity forecasts a full year FY27 dividend of 0.00 cents and EPS of 5.50 cents.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 10.55.

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

ASX    ASX LIMITED

Wealth Management & Investments – Overnight Price: $59.62

Jarden rates ((ASX)) as Neutral (3) –

Jarden maintains a Neutral rating and a $57.15 price target for ASX following TMX Group’s agreement to acquire Cboe Australia and Cboe Canada for $300m.

The analysts note the potential for a global exchange operator with an active tokenisation program to deploy issuer-sponsored infrastructure for new listings outside the core Chess framework.

While TMX’s strategic ambitions locally remain unclear, commentary suggests the acquisition introduces credible structural risk to the bourse’s post-trade monopoly for the first time.

The arrival of a well-capitalised competitor, combined with domestically licensed distributed ledger technology clearing infrastructure, could provide a fully integrated alternative stack.

Despite this longer-term competitive threat, near-term catalysts remain intact as the exchange navigates its own Chess replacement execution and ongoing capital expenditure trends, the report concludes.

This report was published on April 23, 2026.

Target price is $57.15 Current Price is $59.62 Difference: minus $2.47 (current price is over target).
If ASX meets the Jarden target it will return approximately minus 4% (excluding dividends, fees and charges – negative figures indicate an expected loss).
Current consensus price target is $57.29, suggesting upside of 0.0%(ex-dividends)
The company’s fiscal year ends in June.

Forecast for FY26:

Jarden forecasts a full year FY26 dividend of 192.10 cents and EPS of 256.00 cents.
At the last closing share price the estimated dividend yield is 3.22%.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 23.29.

How do these forecasts compare to market consensus projections?

Current consensus EPS estimate is 272.9, implying annual growth of 5.3%.
Current consensus DPS estimate is 204.7, implying a prospective dividend yield of N/A.
Current consensus EPS estimate suggests the PER is N/A.

Forecast for FY27:

Jarden forecasts a full year FY27 dividend of 197.80 cents and EPS of 263.80 cents.
At the last closing share price the estimated dividend yield is 3.32%.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 22.60.

How do these forecasts compare to market consensus projections?

Current consensus EPS estimate is 272.3, implying annual growth of -0.2%.
Current consensus DPS estimate is 209.1, implying a prospective dividend yield of N/A.
Current consensus EPS estimate suggests the PER is N/A.

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

BOQ    BANK OF QUEENSLAND LIMITED

Banks – Overnight Price: $6.68

Jarden rates ((BOQ)) as Sell (5) –

Jarden reiterates a Sell rating and $5.50 price target for Bank of Queensland following a weak first-half result.

First-half cash net profit after tax of $176m fell -12% half-on-half and missed consensus expectations.

The broker observes structural flaws in deposit-gathering capabilities, noting free deposits sit at just 1.8% compared to major bank peers.

To offset these deficiencies, management is offloading $3.7bn in equipment finance loans, which creates new vulnerabilities to wholesale funding markets.

The analysts cut earnings estimates across the forecast period to reflect lower net interest income resulting from the loan sale.

This report was published on April 22, 2026.

Target price is $5.50 Current Price is $6.68 Difference: minus $1.18 (current price is over target).
If BOQ meets the Jarden target it will return approximately minus 18% (excluding dividends, fees and charges – negative figures indicate an expected loss).
Current consensus price target is $6.57, suggesting downside of -1.7%(ex-dividends)
The company’s fiscal year ends in August.

Forecast for FY26:

Jarden forecasts a full year FY26 dividend of 40.00 cents and EPS of 48.00 cents.
At the last closing share price the estimated dividend yield is 5.99%.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 13.92.

How do these forecasts compare to market consensus projections?

Current consensus EPS estimate is 51.8, implying annual growth of 156.3%.
Current consensus DPS estimate is 53.0, implying a prospective dividend yield of 7.9%.
Current consensus EPS estimate suggests the PER is 12.9.

Forecast for FY27:

Jarden forecasts a full year FY27 dividend of 40.00 cents and EPS of 47.90 cents.
At the last closing share price the estimated dividend yield is 5.99%.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 13.95.

How do these forecasts compare to market consensus projections?

Current consensus EPS estimate is 57.2, implying annual growth of 10.4%.
Current consensus DPS estimate is 42.0, implying a prospective dividend yield of 6.3%.
Current consensus EPS estimate suggests the PER is 11.7.

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

BXB    BRAMBLES LIMITED

Transportation & Logistics – Overnight Price: $22.02

Jarden rates ((BXB)) as Neutral (3) –

Jarden maintains a Neutral rating and $25.60 price target for Brambles following an updated analysis of US pallet input costs.

The broker observes industry pallet pricing remains firm with softwood lumber costs down -7.0% compared to the prior year.

This re-emerging spread between pricing and input costs points to improving momentum in industry operating margins and more rational competition between whitewood and pooling pallet providers.

Transport costs are lifting alongside a 39% acceleration in diesel prices, though evidence shows these higher operating costs are not yet impacting retailer volumes.

The analysts expect observed competitive rationality will support the pass-through of these higher costs, keeping the near-term earnings outlook stable.

This report was published on April 22, 2026.

Target price is $25.60 Current Price is $22.02 Difference: $3.58
If BXB meets the Jarden target it will return approximately 16% (excluding dividends, fees and charges).
Current consensus price target is $26.32, suggesting upside of 19.5%(ex-dividends)
The company’s fiscal year ends in June.

Forecast for FY26:

Jarden forecasts a full year FY26 dividend of 45.30 cents and EPS of 106.87 cents.
At the last closing share price the estimated dividend yield is 2.06%.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 20.61.

How do these forecasts compare to market consensus projections?

Current consensus EPS estimate is 99.9, implying annual growth of N/A.
Current consensus DPS estimate is 63.3, implying a prospective dividend yield of 2.9%.
Current consensus EPS estimate suggests the PER is 22.0.

Forecast for FY27:

Jarden forecasts a full year FY27 dividend of 71.04 cents and EPS of 118.56 cents.
At the last closing share price the estimated dividend yield is 3.23%.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 18.57.

How do these forecasts compare to market consensus projections?

Current consensus EPS estimate is 109.6, implying annual growth of 9.7%.
Current consensus DPS estimate is 67.1, implying a prospective dividend yield of 3.0%.
Current consensus EPS estimate suggests the PER is 20.1.

This company reports in USD. All estimates have been converted into AUD by FNArena at present FX values.
Market Sentiment: 0.6
All consensus data are updated until yesterday. FNArena’s consensus calculations require a minimum of three sources

CBE    COBRE LIMITED

Overnight Price: $0.20

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

Canaccord Genuity initiates coverage on Cobre with a Speculative Buy rating and a $0.25 price target.

The broker observes the company holds two distinct copper assets, anchored by the operational Sierra Atacama mine in Chile, which currently produces 400 tonnes of cathode per month.

The analysts view a production turnaround at this brownfield site as a crucial near-term catalyst, with a capital-light $28.6m optimisation program targeting an eventual run rate of 12,000 tonnes per annum.

Concurrently, management is advancing a pilot program at the pre-production Ngami project in Botswana, strategically testing an in-situ copper recovery method across the highly prospective Kalahari Copper Belt.

Valuation reflects a risk-adjusted methodology, with the broker commenting this leaves substantial upside potential if the company successfully de-risks broader expansion scenarios across both core assets.

This report was published on April 24, 2026.

Target price is $0.25 Current Price is $0.20 Difference: $0.05
If CBE meets the Canaccord Genuity target it will return approximately 25% (excluding dividends, fees and charges).

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 1.00 cents.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 20.00.

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

COH    COCHLEAR LIMITED

Medical Equipment & Devices – Overnight Price: $97.35

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

Canaccord Genuity maintains a Buy rating and $295.00 price target for Cochlear (but forecasts and valuation are now officially under review) following a significant earnings downgrade by company management.

Underlying net profit guidance has been revised to between $290m and $330m, in reference to a volatile post-pandemic growth profile and weak consumer sentiment impacting adult and senior demand.

Hospital capacity constraints across major developed markets and disruption in the Middle East have further pressured referral-to-surgery conversion rates and increased potential bad-debt risks.

The analysts observe the company is undergoing a cost-base reshaping program to increase operational flexibility, with gross margins expected to compress to 72%.

Despite these near-term headwinds and deferred purchases ahead of the upcoming Nexa product release, Canaccord Genuity argues mid-to-long-term growth drivers for the broader device category remain structurally intact.

This report was published on April 22, 2026.

Target price is $295.00 Current Price is $97.35 Difference: $197.65
If COH meets the Canaccord Genuity target it will return approximately 203% (excluding dividends, fees and charges).
Current consensus price target is $116.53, suggesting upside of 19.7%(ex-dividends)
The company’s fiscal year ends in June.

Forecast for FY26:

Canaccord Genuity forecasts a full year FY26 dividend of 430.00 cents and EPS of 606.00 cents.
At the last closing share price the estimated dividend yield is 4.42%.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 16.06.

How do these forecasts compare to market consensus projections?

Current consensus EPS estimate is 421.9, implying annual growth of -29.0%.
Current consensus DPS estimate is 328.0, implying a prospective dividend yield of 3.4%.
Current consensus EPS estimate suggests the PER is 23.1.

Forecast for FY27:

Canaccord Genuity forecasts a full year FY27 dividend of 455.00 cents and EPS of 679.00 cents.
At the last closing share price the estimated dividend yield is 4.67%.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 14.34.

How do these forecasts compare to market consensus projections?

Current consensus EPS estimate is 475.1, implying annual growth of 12.6%.
Current consensus DPS estimate is 366.2, implying a prospective dividend yield of 3.8%.
Current consensus EPS estimate suggests the PER is 20.5.

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


Jarden rates ((COH)) as Neutral (3) –

Jarden maintains a Neutral rating and lowers its price target for Cochlear to $169.00 following a -23.5% earnings downgrade.

The broker observes underlying net profit guidance was revised downwards to between $290m and $330m, reflecting weaker implant volumes across multiple geographies.

A contraction in gross margins to 72% compounds the challenges, alongside restructuring costs and doubtful debt provisions.

Competitive pressures appear to be escalating as rival firms capture market share through aggressive pricing strategies and volume-based discounts, commentary highlights.

The analysts process substantial earnings reductions across the forecast period and consider the share price reaction an appropriate response to the (now) limited near-term visibility.

This report was published on April 22, 2026.

Target price is $169.00 Current Price is $97.35 Difference: $71.65
If COH meets the Jarden target it will return approximately 74% (excluding dividends, fees and charges).
Current consensus price target is $116.53, suggesting upside of 19.7%(ex-dividends)
The company’s fiscal year ends in June.

Forecast for FY26:

Jarden forecasts a full year FY26 dividend of 442.00 cents and EPS of 479.20 cents.
At the last closing share price the estimated dividend yield is 4.54%.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 20.32.

How do these forecasts compare to market consensus projections?

Current consensus EPS estimate is 421.9, implying annual growth of -29.0%.
Current consensus DPS estimate is 328.0, implying a prospective dividend yield of 3.4%.
Current consensus EPS estimate suggests the PER is 23.1.

Forecast for FY27:

Jarden forecasts a full year FY27 dividend of 488.70 cents and EPS of 527.80 cents.
At the last closing share price the estimated dividend yield is 5.02%.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 18.44.

How do these forecasts compare to market consensus projections?

Current consensus EPS estimate is 475.1, implying annual growth of 12.6%.
Current consensus DPS estimate is 366.2, implying a prospective dividend yield of 3.8%.
Current consensus EPS estimate suggests the PER is 20.5.

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

ELV    ELEVRA LITHIUM LIMITED

New Battery Elements – Overnight Price: $12.04

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

Canaccord Genuity maintains a Buy rating and a $16.50 price target for Elevra Lithium following a stronger-than-expected March quarter production report.

The broker observes spodumene output from the core NAL asset comfortably beat estimates, driven by improving recoveries and record plant utilisation as historical grade constraints continue to abate.

Operations also benefited from favourable shipment timing, driving higher sales volumes and bolstering the closing cash balance.

The analysts highlight structural market deficits and robust long-term incentive pricing provide a compelling rationale to accelerate the NAL plant expansion, potentially lifting production by 50% while permanently lowering unit costs.

Minor adjustments were made to near-term earnings forecasts to reflect actual quarterly performance, leaving the overarching valuation and constructive investment thesis unchanged.

This report was published on April 24, 2026.

Target price is $16.50 Current Price is $12.04 Difference: $4.46
If ELV meets the Canaccord Genuity target it will return approximately 37% (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 68.00 cents.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 17.71.

Forecast for FY27:

Canaccord Genuity forecasts a full year FY27 dividend of 0.00 cents and EPS of 138.00 cents.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 8.72.

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

EQR    EQ RESOURCES LIMITED

Industrial Metals – Overnight Price: $0.28

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

Canaccord Genuity maintains a Buy rating and $0.50 price target for EQ Resources following a site visit to the Mt Carbine open pit operations.

Management outlined an expansion pathway for the processing plant to lift capacity to 2m tonnes per annum, primarily through crushing optimisations and additional ore sorters.

The broker anticipates a softer March quarter due to wet weather impacts and prioritised waste stripping, which should open access to higher-grade vein systems.

The analysts observe significant potential for mine life extensions as current reserves only cover approximately 25% of the known in-situ resources.

Operational momentum is expected to accelerate significantly in the June quarter with feed grades projected to double, supporting attractive valuation metrics and robust free cash flow yields.

This report was published on April 22, 2026.

Target price is $0.50 Current Price is $0.28 Difference: $0.225
If EQR meets the Canaccord Genuity target it will return approximately 82% (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

GDG    GENERATION DEVELOPMENT GROUP LIMITED

Wealth Management & Investments – Overnight Price: $3.61

Moelis rates ((GDG)) as Buy (1) –

Moelis maintains a Buy rating and $6.72 price target for Generation Development Ltd following a mixed third-quarter trading update.

The broker observes investment bond sales comfortably beat expectations with $375m in inflows, supported by strong execution and multi-year industry tailwinds.

Conversely, managed account flows via the Evidentia platform missed estimates as organic sales landed at $1.1bn while a major mandate slipped into the fourth quarter.

The analysts have adopted a more conservative forecasting approach by stripping unconfirmed mandate wins from future flow assumptions, prompting earnings downgrades across the forecast period.

Despite near-term platform delays, the broker maintains the underlying structural transition toward managed accounts remains intact, providing substantial runway for future funds under management growth.

This report was published on April 22, 2026.

Target price is $6.72 Current Price is $3.61 Difference: $3.11
If GDG meets the Moelis target it will return approximately 86% (excluding dividends, fees and charges).
Current consensus price target is $6.36, suggesting upside of 76.2%(ex-dividends)
The company’s fiscal year ends in June.

Forecast for FY26:

Moelis forecasts a full year FY26 dividend of 2.00 cents and EPS of 10.10 cents.
At the last closing share price the estimated dividend yield is 0.55%.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 35.74.

How do these forecasts compare to market consensus projections?

Current consensus EPS estimate is 10.5, implying annual growth of -9.7%.
Current consensus DPS estimate is 2.4, implying a prospective dividend yield of 0.7%.
Current consensus EPS estimate suggests the PER is 34.4.

Forecast for FY27:

Moelis forecasts a full year FY27 dividend of 2.00 cents and EPS of 13.00 cents.
At the last closing share price the estimated dividend yield is 0.55%.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 27.77.

How do these forecasts compare to market consensus projections?

Current consensus EPS estimate is 13.2, implying annual growth of 25.7%.
Current consensus DPS estimate is 3.1, implying a prospective dividend yield of 0.9%.
Current consensus EPS estimate suggests the PER is 27.3.

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

GHM    GOLDEN HORSE MINERALS LIMITED

Gold & Silver – Overnight Price: $0.49

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

Shaw and Partners maintains a Buy rating and a $1.50 target price for Golden Horse Minerals following a significant high-grade gold discovery at the Hopes Hill project.

Operations recently intersected 16.0m at 6.8 g/t of gold, including a super-grade core of 1.0m at 98.4 g/t, confirming robust mineralisation continues well beyond historic open-pit limits.

Management unlocked this specific target zone by consolidating regional landholdings, removing artificial tenement boundaries previously restricting exploration across the Southern Cross Greenstone Belt.

The analysts note visible gold observations within the footwall lode correlate with earlier southern drilling, suggesting a consistent high-energy mineralising event extending the strike length beyond 2.5km.

Despite the company lacking active production revenue and carrying inherent developmental risks, the broker views the ambitious 125km drilling campaign and impending maiden resource estimate slated for late 2026 as powerful near-term catalysts.

This report was published on April 24, 2026.

Target price is $1.50 Current Price is $0.49 Difference: $1.01
If GHM meets the Shaw and Partners target it will return approximately 206% (excluding dividends, fees and charges).
The company’s fiscal year ends in December.

Forecast for FY26:

Shaw and Partners forecasts a full year FY26 dividend of 0.00 cents and EPS of minus 2.10 cents.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is minus 23.33.

Forecast for FY27:

Shaw and Partners forecasts a full year FY27 dividend of 0.00 cents and EPS of minus 1.70 cents.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is minus 28.82.

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) –

Moelis maintains a Buy rating and $0.075 price target for Hillgrove Resources following a robust March quarter production update.

Copper output of 3,100 tonnes comfortably beat estimates driven by higher head grades as mining operations progressed through the lateral extents of the orebodies.

Unit costs landed below forecasts while stronger realised copper prices bolstered the closing cash balance to $25.2m.

The analysts adjusted near-term models to reflect a marginally slower throughput ramp-up to the 1.7m tonnes per annum target alongside increased mining costs from mobilising a third production rig.

The broker considers the prevailing share price discount unwarranted given diminishing single-asset risks and significant operational leverage to current copper markets.

This report was published on April 23, 2026.

Target price is $0.08 Current Price is $0.04 Difference: $0.036
If HGO meets the Moelis target it will return approximately 92% (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 5.57.

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 4.88.

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

HMY    HARMONEY CORP LIMITED

Diversified Financials – Overnight Price: $0.81

Moelis rates ((HMY)) as Buy (1) –

Moelis maintains a Buy rating and a $1.30 price target for Harmoney following a third-quarter update aligned with market expectations.

Management reaffirmed FY26 cash net profit guidance of $13.0m as the loan book expanded 10% to $879m alongside stable net interest margins.

The newly launched secured auto product presents significant addressable market opportunities, supported by a dedicated lending warehouse offering lower funding costs and a recent New Zealand partnership to drive volumes.

The analysts slightly reduced the FY26 closing loan book forecast to $904m to reflect a weaker New Zealand dollar translation, consequently trimming outer-year earnings estimates.

Despite these minor currency headwinds, the broker nudged the valuation upwards to incorporate a model roll-forward alongside earnings accretion from extending the share buyback program to April 2027.

This report was published on April 22, 2026.

Target price is $1.30 Current Price is $0.81 Difference: $0.49
If HMY meets the Moelis target it will return approximately 60% (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 12.80 cents.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 6.33.

Forecast for FY27:

Moelis forecasts a full year FY27 dividend of 0.00 cents and EPS of 16.40 cents.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 4.94.

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

IKE    IKEGPS GROUP LIMITED

Hardware & Equipment – Overnight Price: $0.94

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

Shaw and Partners maintains a Buy rating and a $1.40 target price for ikeGPS Group following a solid fourth-quarter trading update.

Management broadly achieved the FY26 subscription revenue guidance, recording an impressive 33% year-on-year growth trajectory driven by strong adoption of the PoleForeman product and a favourable revenue mix shift.

The exit run-rate of annual platform subscriptions landed at $20.7m, slightly undershooting expectations as an accelerated project completion from a large long-term customer and minor foreign exchange headwinds masked underlying momentum.

Operations successfully achieved positive underlying cash generation in the final month of the year, marking a critical milestone in the transition toward sustainable profitability.

The broker subsequently revised near-term revenue estimates slightly downwards to account for softer transactional sales, but remains highly constructive on the medium-term outlook as the launch of the PolePilot artificial intelligence module drives deeper customer integration and enhanced pricing power across the Office Pro user base.

This report was published on April 24, 2026.

Target price is $1.40 Current Price is $0.94 Difference: $0.46
If IKE meets the Shaw and Partners target it will return approximately 49% (excluding dividends, fees and charges).
The company’s fiscal year ends in March.

Forecast for FY26:

Shaw and Partners forecasts a full year FY26 dividend of 0.00 cents and EPS of minus 3.79 cents.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is minus 24.82.

Forecast for FY27:

Shaw and Partners forecasts a full year FY27 dividend of 0.00 cents and EPS of minus 1.94 cents.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is minus 48.53.

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

ILU    ILUKA RESOURCES LIMITED

Mineral Sands – Overnight Price: $7.62

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

Canaccord Genuity downgrades Iluka Resources to a Hold rating and sets an $8.10 price target following the March quarter production update.

Zircon, rutile, and synthetic rutile output missed expectations, weighed down by softer Jacinth Ambrosia volumes and uneven shipment timing.

Management preserved FY26 production and cost guidance, though escalating diesel prices present lingering margin risks.

Forward contracts indicate structural improvements across mineral sands and rare earth markets, prompting the broker to lift long-term commodity pricing assumptions.

The analysts upgraded near-term earnings forecasts to reflect these favourable supply dynamics but pulled back the recommendation strictly on valuation grounds after a recent share price rally.

This report was published on April 22, 2026.

Target price is $8.10 Current Price is $7.62 Difference: $0.48
If ILU meets the Canaccord Genuity target it will return approximately 6% (excluding dividends, fees and charges).
Current consensus price target is $7.39, suggesting downside of -3.1%(ex-dividends)
The company’s fiscal year ends in December.

Forecast for FY26:

Canaccord Genuity forecasts a full year FY26 dividend of 7.00 cents and EPS of minus 22.00 cents.
At the last closing share price the estimated dividend yield is 0.92%.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is minus 34.64.

How do these forecasts compare to market consensus projections?

Current consensus EPS estimate is -15.5, implying annual growth of N/A.
Current consensus DPS estimate is 7.0, implying a prospective dividend yield of 0.9%.
Current consensus EPS estimate suggests the PER is N/A.

Forecast for FY27:

Canaccord Genuity forecasts a full year FY27 dividend of 8.00 cents and EPS of minus 5.00 cents.
At the last closing share price the estimated dividend yield is 1.05%.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is minus 152.40.

How do these forecasts compare to market consensus projections?

Current consensus EPS estimate is 11.4, implying annual growth of N/A.
Current consensus DPS estimate is 18.5, implying a prospective dividend yield of 2.4%.
Current consensus EPS estimate suggests the PER is 66.8.

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

MGR    MIRVAC GROUP

Infra & Property Developers – Overnight Price: $1.73

Jarden rates ((MGR)) as Downgrade to Overweight from Buy (2) –

Jarden downgrades Mirvac Group to an Overweight rating from Buy and maintains a $2.24 target price following a third-quarter update aligning with expectations.

Management reaffirmed FY26 earnings guidance, supported by robust 12% year-on-year growth in residential sales and encouraging momentum across the investment portfolio, where industrial incentives increased alongside improving moving annual turnover.

Despite securing roughly 96% of targeted lots for the current financial year, the analysts observe softening enquiry conversion in April as higher interest rates and escalating civil works costs begin weighing on customer sentiment.

The broker consequently reduced FY27 earnings forecasts by -9% to account for these anticipated margin compressions and a potentially lower settlement profile across slower regions like Victoria and select New South Wales projects.

Valuation remains compelling, with the analysts viewing the risk-to-reward dynamic as increasingly attractive despite near-term macroeconomic volatility.

This report was published on April 23, 2026.

Target price is $2.24 Current Price is $1.73 Difference: $0.51
If MGR meets the Jarden target it will return approximately 29% (excluding dividends, fees and charges).
Current consensus price target is $2.00, suggesting upside of 15.4%(ex-dividends)
The company’s fiscal year ends in June.

Forecast for FY26:

Jarden forecasts a full year FY26 dividend of 9.50 cents and EPS of 13.20 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 13.11.

How do these forecasts compare to market consensus projections?

Current consensus EPS estimate is 13.0, implying annual growth of 655.8%.
Current consensus DPS estimate is 9.3, implying a prospective dividend yield of 5.4%.
Current consensus EPS estimate suggests the PER is 13.3.

Forecast for FY27:

Jarden forecasts a full year FY27 dividend of 10.40 cents and EPS of 14.50 cents.
At the last closing share price the estimated dividend yield is 6.01%.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 11.93.

How do these forecasts compare to market consensus projections?

Current consensus EPS estimate is 13.3, implying annual growth of 2.3%.
Current consensus DPS estimate is 9.9, implying a prospective dividend yield of 5.7%.
Current consensus EPS estimate suggests the PER is 13.0.

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

MPW    METAL POWDER WORKS LIMITED

Industrial Sector Contractors & Engineers – Overnight Price: $2.59

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

Canaccord Genuity maintains a Speculative Buy rating for Metal Powder Works and lowers the price target to $3.90 following a promising third-quarter update.

Management reported robust momentum as core titanium and bronze alloy powder revenues nearly doubled quarter-on-quarter, supported by a growing 117-deal active pipeline.

Leveraging a solid $13.0m net cash balance, the report highlights the company is actively commissioning additional Alpha DirectPowder units alongside a Next-gen system, expanding capacity towards 130 tonnes per annum to service additive manufacturing and defence markets.

Commentary suggests ongoing cold-spray application testing with the University of Dayton Research Institute could further unlock direct procurement orders across the wider US Department of Defense supply chain.

Despite these operational milestones, the broker edges back near-term earnings forecasts to account for a -25% revision to FY26 revenue projections, driven by a slower sales ramp and margin headwinds from an elevated AUD/USD cross-rate.

This report was published on April 22, 2026.

Target price is $3.90 Current Price is $2.59 Difference: $1.31
If MPW meets the Canaccord Genuity target it will return approximately 51% (excluding dividends, fees and charges).
The company’s fiscal year ends in June.

Forecast for FY26:

Canaccord Genuity forecasts a full year FY26 dividend of 0.00 cents and EPS of minus 4.40 cents.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is minus 58.86.

Forecast for FY27:

Canaccord Genuity forecasts a full year FY27 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 129.50.

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: $21.86

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

Canaccord Genuity maintains a Buy rating and a $31.45 price target for Northern Star Resources following a stronger-than-expected March quarter operating result.

Group free cash flow of $301m comfortably beat expectations as the company capitalised on higher throughput grades at the KCGM, Thunderbox, and Pogo divisions, offsetting softer volumes at Carosue Dam.

Despite this robust near-term cash generation, management flagged significant capital expenditure escalations at the KCGM Mill Expansion, citing poor construction productivity alongside broader industry cost inflation.

A more conservative ramp-up profile for the expansion project was incorporated and long-term unit cost assumptions were lifted to reflect stubborn operating pressures across the wider asset base.

These compounding headwinds drove material downgrades to outer-year earnings and free cash flow estimates, prompting the broker to trim the valuation while leaving the overarching investment thesis intact.

This report was published on April 22, 2026.

Target price is $31.45 Current Price is $21.86 Difference: $9.59
If NST meets the Canaccord Genuity target it will return approximately 44% (excluding dividends, fees and charges).
Current consensus price target is $27.96, suggesting upside of 27.9%(ex-dividends)
The company’s fiscal year ends in June.

Forecast for FY26:

Canaccord Genuity forecasts a full year FY26 dividend of 47.00 cents and EPS of 123.00 cents.
At the last closing share price the estimated dividend yield is 2.15%.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 17.77.

How do these forecasts compare to market consensus projections?

Current consensus EPS estimate is 130.6, implying annual growth of 15.9%.
Current consensus DPS estimate is 53.8, implying a prospective dividend yield of 2.5%.
Current consensus EPS estimate suggests the PER is 16.7.

Forecast for FY27:

Canaccord Genuity forecasts a full year FY27 dividend of 50.00 cents and EPS of 211.00 cents.
At the last closing share price the estimated dividend yield is 2.29%.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 10.36.

How do these forecasts compare to market consensus projections?

Current consensus EPS estimate is 207.1, implying annual growth of 58.6%.
Current consensus DPS estimate is 72.1, implying a prospective dividend yield of 3.3%.
Current consensus EPS estimate suggests the PER is 10.6.

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


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

Jarden maintains an Underweight rating and $22.30 price target for Northern Star Resources following the March quarter update.

Management disclosed further capital expenditure escalation at the KCGM expansion, though the project remains on schedule for completion in the September quarter of 2026.

A poor gold price realisation significantly impacted the result, missing the prevailing average and Jarden’s expectations due to hedge deliveries and sales timing.

While the company generated $301m of free cash flow, the report highlights ongoing grade struggles at Jundee and the approaching end of open-pit operations at Carosue Dam present operational challenges.

Earnings estimates have been adjusted to reflect these developments. Jarden views the stock as lacking imminent positive catalysts.

This report was published on April 23, 2026.

Target price is $22.30 Current Price is $21.86 Difference: $0.44
If NST meets the Jarden target it will return approximately 2% (excluding dividends, fees and charges).
Current consensus price target is $27.96, suggesting upside of 27.9%(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 124.60 cents.
At the last closing share price the estimated dividend yield is 2.29%.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 17.54.

How do these forecasts compare to market consensus projections?

Current consensus EPS estimate is 130.6, implying annual growth of 15.9%.
Current consensus DPS estimate is 53.8, implying a prospective dividend yield of 2.5%.
Current consensus EPS estimate suggests the PER is 16.7.

Forecast for FY27:

Jarden forecasts a full year FY27 dividend of 50.00 cents and EPS of 146.30 cents.
At the last closing share price the estimated dividend yield is 2.29%.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 14.94.

How do these forecasts compare to market consensus projections?

Current consensus EPS estimate is 207.1, implying annual growth of 58.6%.
Current consensus DPS estimate is 72.1, implying a prospective dividend yield of 3.3%.
Current consensus EPS estimate suggests the PER is 10.6.

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

ORE    OREZONE GOLD CORPORATION CDI

Gold & Silver – Overnight Price: $2.32

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

Canaccord Genuity maintains a Buy rating and a $4.00 price target for Orezone Gold following a stronger-than-expected first-quarter production update.

Group gold output of 38,800 ounces comfortably beat consensus estimates, despite intermittent emulsion delivery issues at the Bombore project forcing mine sequence adjustments and reducing mill head grades.

Emulsion supplies are now stabilising alongside steady throughput increases from the newly commissioned hard rock plant, supporting management’s decision to re-iterate back-half weighted 2026 production guidance.

The recent integration of the Casa Berardi acquisition contributed initial ounces during the quarter, with further operational upside anticipated as underground contractors mobilise to site.

The analysts note the stage two hard rock expansion remains on schedule for completion in late 2026, offering incremental recovery improvements and sustaining the broker’s constructive valuation approach.

This report was published on April 23, 2026.

Target price is $4.00 Current Price is $2.32 Difference: $1.68
If ORE meets the Canaccord Genuity target it will return approximately 72% (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 64.45 cents.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 3.60.

Forecast for FY27:

Canaccord Genuity forecasts a full year FY27 dividend of 0.00 cents and EPS of 57.00 cents.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 4.07.

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

PLT    PLENTI GROUP LIMITED

Business & Consumer Credit – Overnight Price: $0.90

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

Canaccord Genuity maintains a Buy rating and a $1.51 price target for Plenti Group following a resilient quarterly operating update.

Total loan originations of $476m comfortably beat expectations, driven largely by a 34% sequential acceleration in the newly launched National Australia Bank ((NAB))-powered automotive finance product.

While elevated bond yields placed temporary pressure on net interest margins due to a lag in repricing funding costs, the broker expects competitive loan pricing to progressively catch up over the coming months.

The analysts downgraded near-term net profit estimates as previous tax rate assumptions proved too low, yet highlight the current valuation remains highly attractive compared to broader non-bank lending peers.

This report was published on April 22, 2026.

Target price is $1.51 Current Price is $0.90 Difference: $0.615
If PLT meets the Canaccord Genuity target it will return approximately 69% (excluding dividends, fees and charges).
The company’s fiscal year ends in March.

Forecast for FY26:

Canaccord Genuity forecasts a full year FY26 dividend of 0.00 cents and EPS of 13.90 cents.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 6.44.

Forecast for FY27:

Canaccord Genuity forecasts a full year FY27 dividend of 0.00 cents and EPS of 13.70 cents.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 6.53.

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


Moelis rates ((PLT)) as Buy (1) –

Moelis maintains a Buy rating and $1.75 price target for Plenti Group following a strong fourth-quarter update.

The broker observes cash earnings exceeded expectations, supported by steady net interest margins, lower-than-anticipated credit losses, and an improving cost-to-income ratio.

Management successfully achieved the $3.0bn loan book target ahead of schedule, reflecting robust origination volumes despite a near-term shift in macroeconomic conditions.

The analysts revised earnings estimates to incorporate a more conservative methodology for estimating taxes paid on cash profit, alongside the repayment of corporate debt lowering future interest expenses.

Moelis finds the valuation remains undemanding as the company consistently executes its strategic objectives and delivers strong underlying performance metrics.

This report was published on April 23, 2026.

Target price is $1.75 Current Price is $0.90 Difference: $0.855
If PLT meets the Moelis target it will return approximately 96% (excluding dividends, fees and charges).
The company’s fiscal year ends in March.

Forecast for FY26:

Moelis forecasts a full year FY26 dividend of 0.00 cents and EPS of 14.10 cents.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 6.35.

Forecast for FY27:

Moelis forecasts a full year FY27 dividend of 0.00 cents and EPS of 12.10 cents.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 7.40.

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

PPS    PRAEMIUM LIMITED

Wealth Management & Investments – Overnight Price: $0.69

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

Canaccord Genuity maintains a Buy rating and $1.40 price target for Praemium following a resilient third-quarter update.

Robust momentum across the Spectrum offering delivered the highest quarterly net flows since its launch, complemented by strong client onboarding and renewals within the Scope-plus division.

Management expects the ongoing Technotia integration will yield $9m in annualised cost savings from FY27, with commentary concluding this is underpinning a structurally sound medium-term growth trajectory.

Despite this operational progress, negative broader market movements placed temporary pressure on funds under administration, prompting the broker to trim near-term earnings forecasts.

The analysts view the underlying platform flow acceleration as a key mitigant to these macroeconomic headwinds, leaving the overarching investment thesis intact.

This report was published on April 22, 2026.

Target price is $1.40 Current Price is $0.69 Difference: $0.705
If PPS meets the Canaccord Genuity target it will return approximately 101% (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 2.50 cents and EPS of 5.10 cents.
At the last closing share price the estimated dividend yield is 3.60%.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 13.63.

Forecast for FY27:

Canaccord Genuity forecasts a full year FY27 dividend of 3.00 cents and EPS of 6.90 cents.
At the last closing share price the estimated dividend yield is 4.32%.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 10.07.

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


Moelis rates ((PPS)) as Buy (1) –

Moelis maintains a Buy rating and $1.18 price target for Praemium following a solid third-quarter update.

The broker observes a material acceleration in Spectrum net flows, driving overall group inflows of $598m, comfortably beating estimates.

While separately managed accounts softened slightly, management expects major enterprise client wins to contribute significantly throughout the final quarter and into the FY27 financial year.

Negative market movements weighed on average funds under administration during the period, prompting slight downgrades to near-term earnings per share projections.

Despite these short-term headwinds, an increasing focus on technology integration is seen offering meaningful margin benefits and structural scale advantages over the coming years.

This report was published on April 22, 2026.

Target price is $1.18 Current Price is $0.69 Difference: $0.485
If PPS meets the Moelis target it will return approximately 70% (excluding dividends, fees and charges).
The company’s fiscal year ends in June.

Forecast for FY26:

Moelis forecasts a full year FY26 dividend of 2.50 cents and EPS of 3.50 cents.
At the last closing share price the estimated dividend yield is 3.60%.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 19.86.

Forecast for FY27:

Moelis forecasts a full year FY27 dividend of 3.30 cents and EPS of 5.00 cents.
At the last closing share price the estimated dividend yield is 4.75%.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 13.90.

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

PRU    PERSEUS MINING LIMITED

Gold & Silver – Overnight Price: $5.56

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

Canaccord Genuity maintains a Buy rating and an $8.80 price target for Perseus Mining following a softer-than-expected March quarter production report.

Group gold output of 107,000 ounces missed estimates as the core Yaoure mine experienced lower feed grades during the transition toward underground mining operations, offsetting steady performance at the Edikan and Sissingue assets.

Operations still generated significant free cash flow buoyed by a 20% sequential increase in realised gold prices, pushing the closing cash and bullion balance to $817m.

The analysts downgraded near-term earnings forecasts to reflect softer volumes and elevated fuel costs, but emphasise the impending $250m cash injection from the Meyas Sand gold project sale provides substantial balance sheet flexibility.

The overarching valuation is considered “compelling” as management advances the Nyanzaga development toward first production in early 2027, underpinning a robust long-term growth trajectory.

This report was published on April 24, 2026.

Target price is $8.80 Current Price is $5.56 Difference: $3.24
If PRU meets the Canaccord Genuity target it will return approximately 58% (excluding dividends, fees and charges).
Current consensus price target is $6.74, suggesting upside of 21.2%(ex-dividends)
The company’s fiscal year ends in June.

Forecast for FY26:

Canaccord Genuity forecasts a full year FY26 dividend of 11.99 cents and EPS of 58.00 cents.
At the last closing share price the estimated dividend yield is 2.16%.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 9.59.

How do these forecasts compare to market consensus projections?

Current consensus EPS estimate is 65.1, implying annual growth of N/A.
Current consensus DPS estimate is 16.1, implying a prospective dividend yield of 2.9%.
Current consensus EPS estimate suggests the PER is 8.5.

Forecast for FY27:

Canaccord Genuity forecasts a full year FY27 dividend of 6.00 cents and EPS of 72.99 cents.
At the last closing share price the estimated dividend yield is 1.08%.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 7.62.

How do these forecasts compare to market consensus projections?

Current consensus EPS estimate is 71.3, implying annual growth of 9.5%.
Current consensus DPS estimate is 16.1, implying a prospective dividend yield of 2.9%.
Current consensus EPS estimate suggests the PER is 7.8.

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

QOR    QORIA LIMITED

Software & Services – Overnight Price: $0.26

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

Canaccord Genuity maintains a Buy rating for Qoria and lowers its target price to $0.50 following a resilient third-quarter result marked by robust 28% growth in combination with annual recurring revenue across the newly merged Aura business.

While the core K12 education segment delivered strong momentum in the United States, perceived weakness in direct-to-consumer subscriber growth during March and higher-than-anticipated cash burn triggered a -22% retreat in the shares.

Management unveiled a revised merger structure incorporating an upsized $100m capital injection from the Aura founders at a reduced valuation, reflecting the broader macroeconomic de-rating of software-as-a-service equities.

Despite incurring slight additional shareholder dilution from the restructure, commentary concludes the overarching balance sheet position improves significantly with enhanced liquidity and an undrawn debt facility cushioning near-term costs.

The analysts consequently reduced near-term valuation multiples and outer-year margin assumptions to reflect the new structure.

This report was published on April 24, 2026.

Target price is $0.50 Current Price is $0.26 Difference: $0.24
If QOR meets the Canaccord Genuity target it will return approximately 92% (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 0.60 cents.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is minus 43.33.

Forecast for FY27:

Canaccord Genuity forecasts a full year FY27 dividend of 0.00 cents and EPS of minus 0.15 cents.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is minus 173.33.

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

REG    REGIS HEALTHCARE LIMITED

Aged Care & Seniors – Overnight Price: $6.80

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

Jarden maintains an Overweight rating and $8.50 price target for Regis Healthcare following proposed Federal Budget funding changes for the aged care sector.

A restructured Accommodation Supplement introduces a $5 daily increase for concessional residents, alongside targeted tiers incentivising providers to maintain balanced occupancy levels.

The analysts view these pricing recommendations as necessary developments addressing the chronic supply shortage and funding gaps across the industry.

The potential removal of the Maximum Permissible Interest Rate provides cashflow reliability by allowing operators to set static conversion rates independent of broader market fluctuations.

Jarden suggests management appears well-positioned to benefit from additional greenfield development payments across an extensive pipeline, offering meaningful earnings upside should the government formally adopt the policies.

This report was published on April 23, 2026.

Target price is $8.50 Current Price is $6.80 Difference: $1.7
If REG meets the Jarden target it will return approximately 25% (excluding dividends, fees and charges).
The company’s fiscal year ends in June.

Forecast for FY26:

Jarden forecasts a full year FY26 dividend of 18.00 cents and EPS of 19.00 cents.
At the last closing share price the estimated dividend yield is 2.65%.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 35.79.

Forecast for FY27:

Jarden forecasts a full year FY27 dividend of 23.20 cents and EPS of 26.60 cents.
At the last closing share price the estimated dividend yield is 3.41%.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 25.56.

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

RRL    REGIS RESOURCES LIMITED

Gold & Silver – Overnight Price: $7.35

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

Canaccord Genuity upgrades Regis Resources to a Buy rating from Hold and lowers its price target to $8.70 following a mixed March quarter production report.

Group gold output of 90.6koz edged back -6% sequentially, with the Duketon operations performing in line with expectations while the Tropicana joint venture delivered an “impressive” cost beat driven by a $287 per ounce non-cash stockpile credit.

Management reiterated full-year volume guidance, though the broker observed an expansion in growth capital expenditure requirements across various minor projects, prompting a slight upward revision to near-term outlay projections.

Canaccord Genuity subsequently downgraded net profit estimates across the forecast horizon to reflect these elevated capital commitments.

Despite near-term cost hurdles, the overarching investment thesis remains constructive, the report concludes, as the company leverages the elevated spot gold pricing environment to advance its broader development pipeline, including the McPhillamys project in New South Wales.

This report was published on April 23, 2026.

Target price is $8.70 Current Price is $7.35 Difference: $1.35
If RRL meets the Canaccord Genuity target it will return approximately 18% (excluding dividends, fees and charges).
Current consensus price target is $8.85, suggesting upside of 20.3%(ex-dividends)
The company’s fiscal year ends in June.

Forecast for FY26:

Canaccord Genuity forecasts a full year FY26 dividend of 25.00 cents and EPS of 97.00 cents.
At the last closing share price the estimated dividend yield is 3.40%.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 7.58.

How do these forecasts compare to market consensus projections?

Current consensus EPS estimate is 74.5, implying annual growth of 121.3%.
Current consensus DPS estimate is 29.4, implying a prospective dividend yield of 4.0%.
Current consensus EPS estimate suggests the PER is 9.9.

Forecast for FY27:

Canaccord Genuity forecasts a full year FY27 dividend of 29.00 cents and EPS of 118.00 cents.
At the last closing share price the estimated dividend yield is 3.95%.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 6.23.

How do these forecasts compare to market consensus projections?

Current consensus EPS estimate is 86.9, implying annual growth of 16.6%.
Current consensus DPS estimate is 34.8, implying a prospective dividend yield of 4.7%.
Current consensus EPS estimate suggests the PER is 8.5.

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

RSG    RESOLUTE MINING LIMITED

Gold & Silver – Overnight Price: $1.41

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

Canaccord Genuity maintains a Buy rating and a $3.15 price target for Resolute Mining following a resilient March quarter production result.

Group output of 59,600 ounces landed in line with expectations, supported by robust supply chains and sufficient explosive inventories at the core Syama gold mine in Mali.

Despite these operational achievements, management cautioned stubborn fuel cost inflation and elevated gold royalties will likely squeeze near-term margins and force an upward revision to all-in sustaining cost guidance.

The analysts tempered commissioning expectations for the Syama Sulphide Conversion Project to the third quarter while incorporating higher diesel prices, prompting material downgrades to near-term earnings forecasts.

The broker retains a constructive view on the overarching valuation, driven by advancing life extension projects at Mako and the impending final investment decision for the Doropo development in Cote d’Ivoire.

This report was published on April 24, 2026.

Target price is $3.15 Current Price is $1.41 Difference: $1.745
If RSG meets the Canaccord Genuity target it will return approximately 124% (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 32.97 cents.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 4.26.

Forecast for FY27:

Canaccord Genuity forecasts a full year FY27 EPS of 35.97 cents.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 3.91.

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

SFR    SANDFIRE RESOURCES LIMITED

Copper – Overnight Price: $17.06

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

Canaccord Genuity maintains a Buy rating and a $21.25 price target for Sandfire Resources following a mixed March quarter production report.

Group copper equivalent output landed at 34.5kt, as robust performance at the Motheo project — driven by access to higher head grades– comfortably offset weaker volumes at Matsa stemming from heavy rainfall and unscheduled maintenance.

Operations capitalised on favourable by-product pricing, which materially lowered C1 unit costs across the portfolio and propelled group EBITDA 39% higher to $220m.

The analysts observe the company is entering a cash-harvest phase, upgrading near-term net profit estimates while trimming outer-year forecasts to account for elevated consumable inputs.

Despite lingering macroeconomic volatility, the broker expects strong operational momentum to persist into FY27 as the pits at Motheo become ore-bound, potentially unlocking higher throughput and driving a 9% structural expansion in group production.

This report was published on April 23, 2026.

Target price is $21.25 Current Price is $17.06 Difference: $4.19
If SFR meets the Canaccord Genuity target it will return approximately 25% (excluding dividends, fees and charges).
Current consensus price target is $18.57, suggesting upside of 8.9%(ex-dividends)
The company’s fiscal year ends in June.

Forecast for FY26:

Canaccord Genuity forecasts a full year FY26 dividend of 7.49 cents and EPS of 97.42 cents.
At the last closing share price the estimated dividend yield is 0.44%.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 17.51.

How do these forecasts compare to market consensus projections?

Current consensus EPS estimate is 98.9, implying annual growth of N/A.
Current consensus DPS estimate is 12.9, implying a prospective dividend yield of 0.8%.
Current consensus EPS estimate suggests the PER is 17.2.

Forecast for FY27:

Canaccord Genuity forecasts a full year FY27 dividend of 14.99 cents and EPS of 142.39 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 11.98.

How do these forecasts compare to market consensus projections?

Current consensus EPS estimate is 150.4, implying annual growth of 52.1%.
Current consensus DPS estimate is 52.6, implying a prospective dividend yield of 3.1%.
Current consensus EPS estimate suggests the PER is 11.3.

This company reports in USD. All estimates have been converted into AUD by FNArena at present FX values.
Market Sentiment: -0.1
All consensus data are updated until yesterday. FNArena’s consensus calculations require a minimum of three sources


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

Jarden maintains an Underweight rating and a $15.00 target price for Sandfire Resources following a mixed third-quarter production report.

Group operations capitalised on favourable by-product pricing, which materially compressed C1 unit costs across the portfolio and propelled the company toward record financial margins as the spot copper price climbed above US$6.00 per pound.

However, a weak quarter of physical delivery, primarily due to lower head grades constraining the otherwise record mining and milling performance at the Motheo project, forced management to guide full-year volumes toward the bottom end of the target range.

The analysts downgraded near-term earnings forecasts slightly to reflect these weaker production actuals alongside the commencement of tax payments in Botswana.

While the broker views the underlying assets, cash generation, and advancing Kalkaroo pre-feasibility study highly favourably, the current recommendation remains anchored strictly on valuation discipline.

This report was published on April 23, 2026.

Target price is $15.00 Current Price is $17.06 Difference: minus $2.06 (current price is over target).
If SFR meets the Jarden target it will return approximately minus 12% (excluding dividends, fees and charges – negative figures indicate an expected loss).
Current consensus price target is $18.57, suggesting upside of 8.9%(ex-dividends)
The company’s fiscal year ends in June.

Forecast for FY26:

Jarden forecasts a full year FY26 dividend of 23.23 cents and EPS of 105.97 cents.
At the last closing share price the estimated dividend yield is 1.36%.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 16.10.

How do these forecasts compare to market consensus projections?

Current consensus EPS estimate is 98.9, implying annual growth of N/A.
Current consensus DPS estimate is 12.9, implying a prospective dividend yield of 0.8%.
Current consensus EPS estimate suggests the PER is 17.2.

Forecast for FY27:

Jarden forecasts a full year FY27 dividend of 82.58 cents and EPS of 144.48 cents.
At the last closing share price the estimated dividend yield is 4.84%.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 11.81.

How do these forecasts compare to market consensus projections?

Current consensus EPS estimate is 150.4, implying annual growth of 52.1%.
Current consensus DPS estimate is 52.6, implying a prospective dividend yield of 3.1%.
Current consensus EPS estimate suggests the PER is 11.3.

This company reports in USD. All estimates have been converted into AUD by FNArena at present FX values.
Market Sentiment: -0.1
All consensus data are updated until yesterday. FNArena’s consensus calculations require a minimum of three sources

STO    SANTOS LIMITED

NatGas – Overnight Price: $7.79

Jarden rates ((STO)) as Upgrade to Overweight from Underweight (2) –

Jarden upgrades Santos to an Overweight rating from Underweight and lowers its target price to $8.80 following a solid quarterly production update clouded by ongoing commissioning issues.

Operations delivered 22.5m barrels of oil equivalent, reflecting a 1% sequential increase, though management was forced to procure four spot LNG cargoes to meet contracted commitments amid delays at the Barossa project.

Slower ramp-up profiles at both Barossa and the Pikka oil development prompt Jarden to anticipate an impending downgrade to 2026 production guidance.

Despite these near-term operational hurdles, the company is anticipated to transition from a prolonged capital investment phase into a period of robust free cash flow generation by the second half of 2026.

The conclusion drawn is valuation remains compelling, further supported by an elevated global energy pricing environment driven by persistent Middle Eastern supply risks.

This report was published on April 23, 2026.

Target price is $8.80 Current Price is $7.79 Difference: $1.01
If STO meets the Jarden target it will return approximately 13% (excluding dividends, fees and charges).
Current consensus price target is $8.18, suggesting upside of 5.0%(ex-dividends)
The company’s fiscal year ends in December.

Forecast for FY26:

Jarden forecasts a full year FY26 dividend of 101.62 cents and EPS of 99.22 cents.
At the last closing share price the estimated dividend yield is 13.04%.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 7.85.

How do these forecasts compare to market consensus projections?

Current consensus EPS estimate is 77.4, implying annual growth of N/A.
Current consensus DPS estimate is 51.2, implying a prospective dividend yield of 6.6%.
Current consensus EPS estimate suggests the PER is 10.1.

Forecast for FY27:

Jarden forecasts a full year FY27 dividend of 144.48 cents and EPS of 126.20 cents.
At the last closing share price the estimated dividend yield is 18.55%.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 6.17.

How do these forecasts compare to market consensus projections?

Current consensus EPS estimate is 71.4, implying annual growth of -7.8%.
Current consensus DPS estimate is 49.0, implying a prospective dividend yield of 6.3%.
Current consensus EPS estimate suggests the PER is 10.9.

This company reports in USD. All estimates have been converted into AUD by FNArena at present FX values.
Market Sentiment: 0.6
All consensus data are updated until yesterday. FNArena’s consensus calculations require a minimum of three sources

VAU    VAULT MINERALS LIMITED

Gold & Silver – Overnight Price: $4.74

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

Canaccord Genuity maintains a Buy rating and a $7.40 price target for Vault Minerals following a robust March quarter update characterised by “exceptional” free cash flow generation.

The broker observes group gold sales of 78,000 ounces aligned with expectations, supported by higher average ore grades at the Mt Monger operations alongside steady underground production rates at Deflector.

Elevated all-in sustaining costs at the Leonora division, exacerbated by lower recoveries at Darlot, prompted slightly downgraded near-term earnings estimates.

Management successfully completed Stage 1 of the processing plant upgrade at Leonora, while a largely unhedged forward book allowed the company to capitalise on surging spot gold markets and bolster cash reserves to $728m.

Canaccord Genuity finds Vault Minerals’ valuation remains compelling as the business aggressively deploys its swelling cash balance towards share buybacks while tracking steadily toward FY26 production guidance.

This report was published on April 22, 2026.

Target price is $7.40 Current Price is $4.74 Difference: $2.66
If VAU meets the Canaccord Genuity target it will return approximately 56% (excluding dividends, fees and charges).
Current consensus price target is $7.35, suggesting upside of 55.1%(ex-dividends)
The company’s fiscal year ends in June.

Forecast for FY26:

Canaccord Genuity forecasts a full year FY26 dividend of 7.00 cents and EPS of 32.00 cents.
At the last closing share price the estimated dividend yield is 1.48%.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 14.81.

How do these forecasts compare to market consensus projections?

Current consensus EPS estimate is 40.5, implying annual growth of 78.8%.
Current consensus DPS estimate is 17.0, implying a prospective dividend yield of 3.6%.
Current consensus EPS estimate suggests the PER is 11.7.

Forecast for FY27:

Canaccord Genuity forecasts a full year FY27 dividend of 0.00 cents and EPS of 80.00 cents.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 5.93.

How do these forecasts compare to market consensus projections?

Current consensus EPS estimate is 71.6, implying annual growth of 76.8%.
Current consensus DPS estimate is 20.3, implying a prospective dividend yield of 4.3%.
Current consensus EPS estimate suggests the PER is 6.6.

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


Moelis rates ((VAU)) as Buy (1) –

Moelis maintains a Buy rating and $7.70 price target for Vault Minerals following a third-quarter production update.

The broker observes softer output was comfortably offset by robust free cash flow generation, driven by disciplined capital expenditure and lower operating spend.

Operations are now demonstrating clear cash-generating capabilities following the closeout of the historical hedge book.

Moelis points out management requires a solid finish to the financial year to achieve the bottom end of its FY26 production guidance, though the completion of the King of the Hills Stage 1 expansion provides additional operational capacity.

Earnings estimates are lowered to reflect a more conservative production profile, while a final dividend has been included in the forecast to account for the growing cash balance.

This report was published on April 23, 2026.

Target price is $7.70 Current Price is $4.74 Difference: $2.96
If VAU meets the Moelis target it will return approximately 62% (excluding dividends, fees and charges).
Current consensus price target is $7.35, suggesting upside of 55.1%(ex-dividends)
The company’s fiscal year ends in June.

Forecast for FY26:

Moelis forecasts a full year FY26 dividend of 7.10 cents and EPS of 19.00 cents.
At the last closing share price the estimated dividend yield is 1.50%.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 24.95.

How do these forecasts compare to market consensus projections?

Current consensus EPS estimate is 40.5, implying annual growth of 78.8%.
Current consensus DPS estimate is 17.0, implying a prospective dividend yield of 3.6%.
Current consensus EPS estimate suggests the PER is 11.7.

Forecast for FY27:

Moelis forecasts a full year FY27 dividend of 7.00 cents and EPS of 79.60 cents.
At the last closing share price the estimated dividend yield is 1.48%.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 5.95.

How do these forecasts compare to market consensus projections?

Current consensus EPS estimate is 71.6, implying annual growth of 76.8%.
Current consensus DPS estimate is 20.3, implying a prospective dividend yield of 4.3%.
Current consensus EPS estimate suggests the PER is 6.6.

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

WAF    WEST AFRICAN RESOURCES LIMITED

Gold & Silver – Overnight Price: $3.22

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

Canaccord Genuity maintains a Speculative Buy rating for West African Resources and raises its price target to $7.00 following news that the host government elected to acquire an additional 25% stake in the Kiaka project for $175m.

The deal takes the government’s total ownership to 40% and Canaccord Genuity comments this outcome remains significantly more favourable than the 50% threshold previously feared.

Management intends to distribute proceeds to shareholders via a special dividend, providing relief alongside near-term operational headwinds observed at the Sanbrado mine, where higher strip ratios temporarily elevated all-in sustaining costs.

Conversely, the Kiaka division delivered in-line production and lower unit costs, keeping group volumes on track to meet annual guidance parameters despite intermittent grade variability.

The revised 60% equity ownership structure has been incorporated into the financial modeling while unwinding a portion of the geopolitical risking previously applied to the valuation, prompting minor adjustments to future earnings estimates.

This report was published on April 23, 2026.

Target price is $7.00 Current Price is $3.22 Difference: $3.78
If WAF meets the Canaccord Genuity target it will return approximately 117% (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 91.00 cents.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 3.54.

Forecast for FY27:

Canaccord Genuity forecasts a full year FY27 dividend of 0.00 cents and EPS of 101.00 cents.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 3.19.

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


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

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

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CHARTS

ALC AMA ASX BOQ BXB CBE COH ELV EQR GDG GHM HGO HMY IKE ILU MGR MPW NAB NST ORE PLT PPS PRU QOR REG RRL RSG SFR STO VAU WAF

For more info SHARE ANALYSIS: ALC - ALCIDION GROUP LIMITED

For more info SHARE ANALYSIS: AMA - AMA GROUP LIMITED

For more info SHARE ANALYSIS: ASX - ASX LIMITED

For more info SHARE ANALYSIS: BOQ - BANK OF QUEENSLAND LIMITED

For more info SHARE ANALYSIS: BXB - BRAMBLES LIMITED

For more info SHARE ANALYSIS: CBE - COBRE LIMITED

For more info SHARE ANALYSIS: COH - COCHLEAR LIMITED

For more info SHARE ANALYSIS: ELV - ELEVRA LITHIUM LIMITED

For more info SHARE ANALYSIS: EQR - EQ RESOURCES LIMITED

For more info SHARE ANALYSIS: GDG - GENERATION DEVELOPMENT GROUP LIMITED

For more info SHARE ANALYSIS: GHM - GOLDEN HORSE MINERALS LIMITED

For more info SHARE ANALYSIS: HGO - HILLGROVE RESOURCES LIMITED

For more info SHARE ANALYSIS: HMY - HARMONEY CORP LIMITED

For more info SHARE ANALYSIS: IKE - IKEGPS GROUP LIMITED

For more info SHARE ANALYSIS: ILU - ILUKA RESOURCES LIMITED

For more info SHARE ANALYSIS: MGR - MIRVAC GROUP

For more info SHARE ANALYSIS: MPW - METAL POWDER WORKS LIMITED

For more info SHARE ANALYSIS: NAB - NATIONAL AUSTRALIA BANK LIMITED

For more info SHARE ANALYSIS: NST - NORTHERN STAR RESOURCES LIMITED

For more info SHARE ANALYSIS: ORE - OREZONE GOLD CORPORATION CDI

For more info SHARE ANALYSIS: PLT - PLENTI GROUP LIMITED

For more info SHARE ANALYSIS: PPS - PRAEMIUM LIMITED

For more info SHARE ANALYSIS: PRU - PERSEUS MINING LIMITED

For more info SHARE ANALYSIS: QOR - QORIA LIMITED

For more info SHARE ANALYSIS: REG - REGIS HEALTHCARE LIMITED

For more info SHARE ANALYSIS: RRL - REGIS RESOURCES LIMITED

For more info SHARE ANALYSIS: RSG - RESOLUTE MINING LIMITED

For more info SHARE ANALYSIS: SFR - SANDFIRE RESOURCES LIMITED

For more info SHARE ANALYSIS: STO - SANTOS LIMITED

For more info SHARE ANALYSIS: VAU - VAULT MINERALS LIMITED

For more info SHARE ANALYSIS: WAF - WEST AFRICAN RESOURCES LIMITED

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