Daily Market Reports | 10:30 AM
An additional news report on the recommendation, valuation, forecast and opinion changes and updates for ASX-listed equities.
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)
29M 3DP ALL BCI BGL (2) BML BPT CCP CDA CMM CNB CPU CWP (2) DYL EBO EMR GEM JBH LTR MIN MQG ORE PDI PEN PNR REG SGP SIG SUL SYR VUL WDS WEB WES WOW WZR
29M 29METALS LIMITED
Copper - Overnight Price: $0.24
Jarden rates ((29M)) as Underweight (4) -
Jarden maintains an Underweight rating for 29Metals and reduces the target price to $0.30 from $0.32 following a period of high cash consumption and deferred access to preferred ore sources.
Mining physicals at the Golden Grove operation deteriorated during the March quarter as ground support upgrades restricted access to the production decline, leading to a -24% sequential drop in copper equivalent output.
Liquidity positions remain a concern with the report forecasting a -$237m cash outflow through 2026, which would effectively exhaust existing cash reserves despite record base metal prices.
Commentary notes the restart of Capricorn Copper remains contingent upon securing additional funding and obtaining approvals for a permanent tailings solution.
The broker lowered 2026 earnings per share estimates to negative -8.7 cents to reflect reduced by-product guidance for zinc and precious metals while the Xantho Extended orebody remains offline.
This report was published on April 29, 2026.
Target price is $0.30 Current Price is $0.24 Difference: $0.06
If 29M meets the Jarden target it will return approximately 25% (excluding dividends, fees and charges).
Current consensus price target is $0.34, suggesting upside of 40.3%(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 minus 8.70 cents.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is minus 2.76.How do these forecasts compare to market consensus projections?
Current consensus EPS estimate is -3.0, implying annual growth of N/A.
Current consensus DPS estimate is N/A, implying a prospective dividend yield of N/A.
Current consensus EPS estimate suggests the PER is N/A.
Forecast for FY27:
Jarden forecasts a full year FY27 dividend of 0.00 cents and EPS of 2.00 cents.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 12.00.How do these forecasts compare to market consensus projections?
Current consensus EPS estimate is 0.4, 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 60.0.
Market Sentiment: 0.3
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources
3DP POINTERRA LIMITED
Cloud services - Overnight Price: $0.03
Research as a Service (RaaS) rates ((3DP)) as No Rating (-1) -
Research as a Service (RaaS) highlights Pointerra's improving cash flow profile, with March quarter receipts of $2.2m up 214% yoy, driving a near cash break-even position.
The company's Pointerra3D platform enables management and analysis of large 3D datasets through digital twin technology, supporting asset management insights across infrastructure and energy customers.
Despite strong cash receipts, the broker's forecasts have been downgraded on weaker near-term revenue momentum, with expectations reset for modest profitability in 2H FY26.
The base-case valuation by the analysts (who own stock) is reduced to $0.18 from $0.25, with upside dependent on sustained contract growth and recurring revenues.
Research as a Service doesn't assign a rating. Investors can draw conclusions from valuations and commentary.
This report was published on May 1, 2026.
Target price is $0.18 Current Price is $0.03 Difference: $0.15
If 3DP meets the Research as a Service (RaaS) target it will return approximately 500% (excluding dividends, fees and charges).
The company's fiscal year ends in June.
Forecast for FY26:
Research as a Service (RaaS) forecasts a full year FY26 dividend of 0.00 cents and EPS of 0.40 cents.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 7.50.
Forecast for FY27:
Research as a Service (RaaS) forecasts a full year FY27 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 4.29.
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources
ALL ARISTOCRAT LEISURE LIMITED
Gaming - Overnight Price: $47.75
Jarden rates ((ALL)) as Buy (1) -
Jarden maintains a Buy rating for Aristocrat Leisure and reduces the target price to $64.00 from $68.00 following a preview of the upcoming first-half result.
Increased risk-free rate assumptions drove the valuation cut despite robust game performance across North American Gaming Operations.
Outright sales performance reached three-year highs, indexing 1.6-1.7x house average and acting as a leading indicator for ship share gains.
It is suggested Interactive segment growth will accelerate when Michigan and Massachusetts iLottery contracts begin in July 2026.
Estimates now incorporate a $45m legal cost recovery from the Light & Wonder Inc settlement and a further $750m buyback beyond the current program.
This report was published on April 29, 2026.
Target price is $64.00 Current Price is $47.75 Difference: $16.25
If ALL meets the Jarden target it will return approximately 34% (excluding dividends, fees and charges).
Current consensus price target is $64.96, suggesting upside of 36.0%(ex-dividends)
The company's fiscal year ends in September.
Forecast for FY26:
Jarden forecasts a full year FY26 dividend of 106.00 cents and EPS of 259.00 cents.
At the last closing share price the estimated dividend yield is 2.22%.
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 258.0, implying annual growth of 12.5%.
Current consensus DPS estimate is 95.4, implying a prospective dividend yield of 2.0%.
Current consensus EPS estimate suggests the PER is 18.5.
Forecast for FY27:
Jarden forecasts a full year FY27 dividend of 115.00 cents and EPS of 286.00 cents.
At the last closing share price the estimated dividend yield is 2.41%.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 16.70.How do these forecasts compare to market consensus projections?
Current consensus EPS estimate is 289.2, implying annual growth of 12.1%.
Current consensus DPS estimate is 107.2, implying a prospective dividend yield of 2.2%.
Current consensus EPS estimate suggests the PER is 16.5.
Market Sentiment: 1.0
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources
BCI BCI MINERALS LIMITED
Mining - Overnight Price: $0.38
Canaccord Genuity rates ((BCI)) as Speculative Buy (1) -
BCI Minerals experienced weather disruptions in the March quarter, with cyclones and heavy rainfall delaying crystalliser development and slowing the Mardie ramp-up, Canaccord Genuity explains.
While construction remains advanced at 81% complete and funding is sufficient to reach completion, the broker lowers its near-term earnings forecasts on slower salt production timing. First salt remains targeted for the December quarter, subject to weather.
Long-term fundamentals are seen as supportive, despite softer near-term salt pricing.
Canaccord retains a Speculative Buy rating and target of $0.50.
This report was published on April 29, 2026.
Target price is $0.50 Current Price is $0.38 Difference: $0.12
If BCI meets the Canaccord Genuity target it will return approximately 32% (excluding dividends, fees and charges).
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources
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