Daily Market Reports | May 05 2026
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 A11 ANZ AR1 ARX AWJ BET BGL BMN BOT BUB CMA CMM COL CYG CYL DUG FLT GEM GNC HPG KCN LMG LTR MLX NMG OMA RMD (2) RMS SCG SGLLV SKC STM TEA TLX WGX
AR1 AUSTRAL RESOURCES AUSTRALIA LIMITED
Copper - Overnight Price: $0.08
Shaw and Partners rates ((AR1)) as Buy (1) -
Shaw and Partners maintains a Buy rating for Austral Resources Australia with a $0.42 target price following the release of the March quarter report.
The broker highlights the recent $55.9m acquisition of Lady Loretta from Glencore finalises a three-pillar consolidation strategy in northwest Queensland, leaving the producer debt-free with $83m in net cash.
With mining operations at Anthill now complete, the focus shifts to processing remaining stockpiles while a two-year refurbishment of the Rocklands concentrator aims to unlock 50ktpa of copper production by late 2027.
Commentary notes the business is building a compelling growth story against a favourable macroeconomic backdrop of robust copper prices and rising critical minerals demand.
The report outlines an expected return to profitability by 2027, driven by the transformation of Rocklands into a regional processing hub catering to both internal and third-party ore.
This report was published on May 4, 2026.
Target price is $0.42 Current Price is $0.08 Difference: $0.343
If AR1 meets the Shaw and Partners target it will return approximately 445% (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 10.80 cents.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is minus 0.71.
Forecast for FY27:
Shaw and Partners forecasts a full year FY27 dividend of 0.00 cents and EPS of 1.60 cents.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 4.81.
Market Sentiment: 1.0
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources
ARX AROA BIOSURGERY LIMITED
Pharmaceuticals & Biotech/Lifesciences - Overnight Price: $0.64
Canaccord Genuity rates ((ARX)) as Buy (1) -
Canaccord Genuity maintains a Buy rating for Aroa Biosurgery, upgrading its target price to $1.35 from $1.16 after a strong FY26 trading update exceeded management's expectations.
Revenue of NZ$104m and underlying EBITDA between NZ$11m and NZ$12m both outperformed guidance, driven by dramatic growth acceleration for the Myriad product in the fourth quarter.
The report attributes this outperformance to disciplined sales execution and strong clinical resonance from the Mastrr study, particularly within the US soft tissue repair market.
Looking ahead, recent regulatory changes to skin-substitute reimbursement are expected to pivot patients toward hospital outpatient settings, a shift ideally suited to the company's existing infrastructure, commentary suggests.
Management expects the upcoming Symphony launch into chronic wound care to provide a sustainable catalyst for further decoupling stock performance from broader sector trends through FY28.
This report was published on May 3, 2026.
Target price is $1.35 Current Price is $0.64 Difference: $0.71
If ARX meets the Canaccord Genuity target it will return approximately 111% (excluding dividends, fees and charges).
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
AWJ AURIC MINING LIMITED
Gold & Silver - Overnight Price: $0.34
Taylor Collison rates ((AWJ)) as Speculative Buy (1) -
The March quarter was a defining one for Auric Mining, Taylor Collison suggests, and one that sets the company up for the next stage of progression.
On the production front, Munda Starter Pit outperformed the original Reserve estimate by 46%, with gold sold at $7,178/oz that takes the cash balance to $46m at quarter-end against a debt-free balance sheet.
The grade and gold production outperformance materially de-risks the broader Munda orebody, the broker suggests, and supports re-estimation of resources to underpin a much larger Main Pit than the current circa 140koz.
The report concludes Auric's operational outperformance has fundamentally transformed both the balance sheet and the company, setting Auric up well for the next stage of growth. Speculative Buy retained, target 73c.
This report was published on May 4, 2026.
Target price is $0.73 Current Price is $0.34 Difference: $0.39
If AWJ meets the Taylor Collison target it will return approximately 115% (excluding dividends, fees and charges).
The company's fiscal year ends in December.
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources
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