Australian Broker Call *Extra* Edition – Jun 15, 2026

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(
    [0] => Array
        (
            [0] => ((AUE))
            [1] => ((CGS))
            [2] => ((DVP))
            [3] => ((GHM))
            [4] => ((GHM))
            [5] => ((MEI))
            [6] => ((MMI))
            [7] => ((PNC))
            [8] => ((PPS))
            [9] => ((REH))
            [10] => ((SDF))
            [11] => ((AUB))
            [12] => ((SGQ))
            [13] => ((SX2))
            [14] => ((TSO))
            [15] => ((TTM))
            [16] => ((WES))
            [17] => ((YRL))
        )

    [1] => Array
        (
            [0] => AUE
            [1] => CGS
            [2] => DVP
            [3] => GHM
            [4] => GHM
            [5] => MEI
            [6] => MMI
            [7] => PNC
            [8] => PPS
            [9] => REH
            [10] => SDF
            [11] => AUB
            [12] => SGQ
            [13] => SX2
            [14] => TSO
            [15] => TTM
            [16] => WES
            [17] => YRL
        )

)

This story features AURUM RESOURCES LIMITED, and other companies.
For more info SHARE ANALYSIS: AUE
The company is included in ALL-ORDS

An additional news report on the recommendation, valuation, forecast and opinion changes and updates for ASX-listed equities.

In addition to The Australian Broker Call Report, which is published and updated daily (Mon-Fri), FNArena has now added The Australian Broker Call *Extra* Edition, featuring additional sources of research and insights on ASX-listed stocks, also enlarging the number of stocks that make up the FNArena universe.

One key difference is the *Extra* Edition will not be updated daily, but merely “regularly” depending on availability of suitable quality content. As such, the *Extra* Edition tries to build a bridge between daily updates via the Australian Broker Call Report and ad hoc news stories, that are not always timely for investors hungry for the next information update.

Investors using the *Extra* Edition as a source of input for their own share market research should thus take into account that information after publication may not be up to date, or yet awaiting another update by FNArena’s team of journalists.

Similar to The Australian Broker Call Report, this *Extra* Edition includes concise but limited reviews of research recently published by Stockbrokers and other experts, which should be considered as information concerning likely market behaviour rather than advice on the securities mentioned. Do not act on the contents of this Report without first reading the important information included at the end of this Report.

The Australian Broker Call *Extra* Edition is a summary that has been prepared independently of the sources identified. Readers will check the full text of the recommendations and consult a Licenced Advisor before making any investment decision.

The copyright of this Report is owned by the publisher. Readers will not copy, forward or disseminate this Report to any other person. For more vital information about the sources included, see the bottom of this Report.

COMPANIES DISCUSSED IN THIS ISSUE

Click on a symbol for fast access.
The number next to the symbol represents the number of brokers covering it for this report -(if more than 1)

AUE   CGS   DVP   GHM (2)   MEI   MMI   PNC   PPS   REH   SDF   SGQ   SX2   TSO   TTM   WES   YRL  

AUE    AURUM RESOURCES LIMITED

Gold & Silver – Overnight Price: $0.56

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

Canaccord Genuity maintains a Speculative Buy rating on Aurum Resources and increases its target price to $1.80 from $1.55 following the release of a Pre-Feasibility Study for the Boundiali Gold Project in Cote d’Ivoire.

The study outlines an 11-year open-pit operation producing approximately 1.5Moz of gold through a 6Mtpa processing plant, with average annual production of 139koz and nearly 1Moz scheduled during the first five years.

The broker comments the study suggests strong early cash generation and a rapid capital payback.

A maiden Ore Reserve of 42.1Mt at 0.9g/t gold underpins the development plan, while broader mine inventory totals 66.2Mt at 0.82g/t gold for 1.7Moz including Inferred resources, providing scope for future mine-life extensions.

Updated valuation assumptions incorporate 10% higher capital expenditure, 15% higher operating costs and a 60% risking factor. The broker continues to see exploration and resource growth potential across the broader mineralised system.

Canaccord Genuity’s valuation is based on a funded development scenario and reflects a preliminary assessment given the current Pre-Feasibility Study level of project definition.

This report was published on June 13, 2026.

Target price is $1.80 Current Price is $0.56 Difference: $1.245
If AUE meets the Canaccord Genuity target it will return approximately 224% (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

CGS    COGSTATE LIMITED

Medical Equipment & Devices – Overnight Price: $2.74

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

Canaccord Genuity maintains a Buy rating for Cogstate with a $3.15 target price ahead of its fourth-quarter trading update scheduled for July 8.

The broker finds Cogstate is well positioned to meet FY26 earnings forecasts, supported by expanding clinical indications across sleep and mood disorders.

Market exposure to narcolepsy and major depressive disorder programs continues to advance into late-stage development, driving higher transaction volumes and contract values.

The analyst notes the long-term total addressable market remains highly underpenetrated, leaving ample white space for proprietary computerized cognitive assessment platforms to capture substantial global market share.

Long-standing relationships with prominent pharmaceutical entities provide a durable competitive moat to underpin projected FY27 revenue targets, the report concludes.

This report was published on June 11, 2026.

Target price is $3.15 Current Price is $2.74 Difference: $0.41
If CGS meets the Canaccord Genuity target it will return approximately 15% (excluding dividends, fees and charges).

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

DVP    DEVELOP GLOBAL LIMITED

Industrial Metals – Overnight Price: $6.92

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

Canaccord Genuity maintains its Speculative Buy rating for Develop Global with its target price increased to $7.20 following the declaration of dual final investment decisions for the Sulphur Springs and Pioneer Dome assets.

Pre-production capital requirements at Sulphur Springs increased 37% to $450m due to cost refinements and minor scope changes identified within a recent front-end engineering design study.

The fast-tracked Pioneer Dome stage one direct shipping ore operation targets the generation of $201m in pre-tax free cash flow over an initial twelve-month production horizon.

Project development funding is secured through an integrated US$350m facility with Trafigura, which simultaneously serves to refinance the existing Woodlawn debt architecture.

The analyst utilizes a blended valuation framework to incorporate these updated mining schedules alongside a recently awarded $274m underground contract at the Finniss lithium project.

This report was published on June 11, 2026.

Target price is $7.20 Current Price is $6.92 Difference: $0.28
If DVP meets the Canaccord Genuity target it will return approximately 4% (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

GHM    GOLDEN HORSE MINERALS LIMITED

Gold & Silver – Overnight Price: $0.42

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

Canaccord Genuity maintains a Speculative Buy rating for Golden Horse Minerals with a $1.50 target price following encouraging regional exploration results across its Southern Cross tenure.

Reverse circulation drilling at the Hakes Find prospect delineated shallow, high-grade gold mineralization over a 500m strike length, including an intercept of 11m grading 3.37g/t gold from a depth of 33m.

The regional program also uncovered localized silver mineralization grading up to 62g/t silver, indicating a polymetallic signature within the structurally controlled orogenic system.

Deep diamond drilling at the flagship Hopes Hill prospect successfully extended known mineralized footprints, returning a high-grade hit of 7.05m grading 7.04g/t gold from a depth of 252m.

The analyst suggests the company has been excessively impacted by a challenging gold equity environment despite consistent exploration de-risking and ongoing efforts toward a maiden resource estimation.

This report was published on June 11, 2026.

Target price is $1.50 Current Price is $0.42 Difference: $1.075
If GHM meets the Canaccord Genuity target it will return approximately 253% (excluding dividends, fees and charges).

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

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

Shaw and Partners maintains a Buy rating for Golden Horse Minerals with a $1.50 target price following regional drilling updates across its core gold tenure.

Regional reverse circulation drilling at Hakes Find confirmed shallow mineralisation over a strike length exceeding 500m, delivering intercepts up to 11m at 3.37g/t gold.

Deep exploration at the flagship Hopes Hill project continues to return high-grade diamond intercepts including 7.05m at 7.04g/t gold to infill the subsurface geological model.

Ongoing campaigns across emerging regional targets like Greenmount build out an extensive discovery pipeline ahead of a planned maiden mineral resource estimate by the end of 2026.

The analysts view the ambitious multi-rig exploration program as highly positive for expanding the asset base throughout the Southern Cross Greenstone Belt.

This report was published on June 11, 2026.

Target price is $1.50 Current Price is $0.42 Difference: $1.075
If GHM meets the Shaw and Partners target it will return approximately 253% (excluding dividends, fees and charges).

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

MEI    METEORIC RESOURCES NL

Gold & Silver – Overnight Price: $0.17

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

Canaccord Genuity maintains a Speculative Buy rating for Meteoric Resources with a $0.40 target price following a positive pilot plant performance update from the Caldeira Rare Earth Project in Brazil.

Operational processing since late 2025 has yielded over 200kg of mixed rare earth carbonate while demonstrating total rare earth element recoveries of 61%, exceeding initial pre-feasibility study baselines.

Additional technical benchmarks featured excellent 85% water recovery and 90% ammonium sulfate recycling rates under a high 95% plant availability factor.

Material produced during the piloting sequence has been distributed to regional partners to optimize downstream oxide separation technologies and firm up formal commercial offtake arrangements.

The analyst highlights key forward indicators centering on definitive feasibility study completion by mid 2026 and the subsequent issuance of a construction installation licence to trigger a final investment decision.

This report was published on June 11, 2026.

Target price is $0.40 Current Price is $0.17 Difference: $0.23
If MEI meets the Canaccord Genuity target it will return approximately 135% (excluding dividends, fees and charges).
Current consensus price target is $0.32, suggesting upside of 86.3%(ex-dividends)

Forecast for FY26:

Current consensus EPS estimate is -1.9, 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:

Current consensus EPS estimate is -1.0, 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.

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

MMI    METRO MINING LIMITED

Coal – Overnight Price: $1.48

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

Shaw and Partners maintains a Buy rating for Metro Mining with a $3.00 target price following an operational update for the Skardon River bauxite operations.

Monthly shipments of 604kwt achieved in May keep the company on track to meet its full-year 2026 export guidance range of 6.6mwt to 7.1mwt.

The return of the Ikamba transhipment vessel to full operating capacity supports a forward production target exceeding 800kwt per month for the remainder of the year.

Anticipated structural bauxite export regulations in Guinea provide potential upside to global commodity pricing benchmarks over the second half of 2026.

The analysts expect strong free cash flow generation to drive outperformance and select the stock as a premier emerging-sector pick.

This report was published on June 11, 2026.

Target price is $3.00 Current Price is $1.48 Difference: $1.52
If MMI meets the Shaw and Partners target it will return approximately 103% (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 10.00 cents and EPS of 12.70 cents.
At the last closing share price the estimated dividend yield is 6.76%.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 11.65.

Forecast for FY27:

Shaw and Partners forecasts a full year FY27 dividend of 30.00 cents and EPS of 44.80 cents.
At the last closing share price the estimated dividend yield is 20.27%.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 3.30.

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

PNC    PIONEER CREDIT LIMITED

Business & Consumer Credit – Overnight Price: $0.70

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

Shaw and Partners maintains a Buy rating for Pioneer Credit with a $1.00 target price following a post-Federal Budget analysis of alternative financial sector profit levers.

Softer housing conditions and slowing credit growth are projected to pressure bank earnings through rising asset impairments.

The analyst expects this macro environment to trigger an inevitable supply surge of written-off, aged debt portfolios available for regional monetization.

Pioneer Credit reiterated its formal FY26 guidance metrics, targeting statutory net profit after tax exceeding $23m on ledger asset purchases of at least $80m.

Commentary suggests tight compliance records preserve a defensive competitive duopoly, supporting continued expansion of core cash collections into FY27.

This report was published on June 12, 2026.

Target price is $1.00 Current Price is $0.70 Difference: $0.3
If PNC meets the Shaw and Partners target it will return approximately 43% (excluding dividends, fees and charges).
The company’s fiscal year ends in June.

Forecast for FY26:

Shaw and Partners forecasts a full year FY26 dividend of 0.00 cents and EPS of 12.30 cents.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 5.69.

Forecast for FY27:

Shaw and Partners forecasts a full year FY27 dividend of 0.00 cents and EPS of 14.00 cents.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 5.00.

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 on Praemium with a $1.40 target price following progress on the rollout of its next-generation wealth platform and revised incentive arrangements linked to the Technotia acquisition.

The new core technology platform is scheduled for a staged launch through the remainder of 2026, while a technology restructure completed earlier this year has reduced the technology workforce to around 40 employees from more than 140 and is expected to deliver annualised cost savings of approximately $9m from FY27.

Technotia’s two founding principals will transition to part-time consulting roles under a revised incentive structure comprising an immediate $2.5m payment and potential additional payments of up to $7.5m, subject to independent review of technical and commercial outcomes.

The analyst estimates the revised incentives imply incremental cash generation of between $25m and $100m across FY27-FY29, while noting the payments can be comfortably funded from cash reserves of $31m as at December 2025.

No changes have been made to underlying forecasts, with the incentive payments expected to be treated as non-recurring items affecting statutory earnings.

This report was published on June 13, 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).

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

REH    REECE LIMITED

Furniture & Renovation – Overnight Price: $15.69

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

Jarden retains its Overweight rating for Reece with its target price reduced to $16.10 from $16.40 on revised cost of capital assumptions.

Commentary highlights proprietary tracker metrics spanning more than 500 domestic retail storefronts indicate resilient volume trends despite recent price increases.

Foot traffic and employee recruitment trends both accelerated across the calendar year to date.

Operational hiring remains heavily concentrated in trade counter and logistics delivery roles to support sustained baseline volumes.

The analyst views the transaction datasets as an incrementally positive indicator for broader Australian economic health.

This report was published on June 11, 2026.

Target price is $16.10 Current Price is $15.69 Difference: $0.41
If REH meets the Jarden target it will return approximately 3% (excluding dividends, fees and charges).
Current consensus price target is $16.07, suggesting upside of 2.4%(ex-dividends)

Forecast for FY26:

Current consensus EPS estimate is 46.3, implying annual growth of -5.9%.
Current consensus DPS estimate is 17.8, implying a prospective dividend yield of 1.1%.
Current consensus EPS estimate suggests the PER is 33.9.

Forecast for FY27:

Current consensus EPS estimate is 54.2, implying annual growth of 17.1%.
Current consensus DPS estimate is 21.5, implying a prospective dividend yield of 1.4%.
Current consensus EPS estimate suggests the PER is 28.9.

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

SDF    STEADFAST GROUP LIMITED

Insurance – Overnight Price: $5.15

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

Jarden maintains an Overweight rating for Steadfast Group with its target price increased to $5.90 following a confirmed conditional, non-binding indicative acquisition proposal from an Amwins and Dragoneer consortium.

The proposed cash bid of $6.00 per share represents a 51.9% premium to the undisturbed close of $3.95 and establishes an exclusive eight-week due diligence window.

The analyst notes the implied take-out multiple of 20.7x FY26 earnings falls below recent historical industry schemes of 23.1x and 24.7x.

The investment thesis centers on the consortium capturing the core business at a cyclically depressed multiple despite the significant headline premium.

Commentary suggests the consortium’s interest reinforces asset valuations across the insurance sector and underscores peer AUB Group ((AUB)) as an attractive consolidation target.

This report was published on June 10, 2026.

Target price is $5.90 Current Price is $5.15 Difference: $0.75
If SDF meets the Jarden target it will return approximately 15% (excluding dividends, fees and charges).
Current consensus price target is $5.68, suggesting upside of 10.3%(ex-dividends)

Forecast for FY26:

Current consensus EPS estimate is 31.3, implying annual growth of 3.1%.
Current consensus DPS estimate is 21.4, implying a prospective dividend yield of 4.2%.
Current consensus EPS estimate suggests the PER is 16.5.

Forecast for FY27:

Current consensus EPS estimate is 33.0, implying annual growth of 5.4%.
Current consensus DPS estimate is 22.2, implying a prospective dividend yield of 4.3%.
Current consensus EPS estimate suggests the PER is 15.6.

Market Sentiment: 0.8
All consensus data are updated until yesterday. FNArena’s consensus calculations require a minimum of three sources

SGQ    ST. GEORGE MINING LIMITED

Rare Earth Minerals – Overnight Price: $0.11

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

Canaccord Genuity maintains a Speculative Buy rating for St. George Mining with a $0.23 target price following initial flotation testwork results from the Araxa critical minerals project in Brazil.

Open-circuit flotation on a 5t saprolite sample achieved niobium concentrate grades of approximately 40% Nb2O5, aligning with typical regional pyrochlore operations.

Subsequent reverse flotation of the remaining niobium tailings successfully generated a rare earth concentrate grading 15.7% total rare earth oxides, representing a 60% upgrade over the initial feed grade.

The analyst notes these metallurgical metrics strongly validate the company’s dual-commodity development strategy illustrated across the process flowcharts.

A planned one-month pilot plant campaign in July 2026 will further optimise flotation parameters ahead of large-scale pilot construction completion in late 2026, the report concludes.

This report was published on June 11, 2026.

Target price is $0.23 Current Price is $0.11 Difference: $0.12
If SGQ meets the Canaccord Genuity target it will return approximately 109% (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

SX2    SOUTHERN CROSS GOLD CONSOLIDATED LIMITED CHEES DEPOSITORY INTEREST REPR 1

Gold & Silver – Overnight Price: $8.76

Shaw and Partners rates ((SX2)) as Buy (1) –

Shaw and Partners maintains a Buy rating for Southern Cross Gold with a $14.40 target price following high-grade exploration drill results from the flagship Sunday Creek project in Victoria.

Seven new diamond drill holes at the Apollo and Apollo East prospects intersected exceptional gold and antimony mineralization, effectively expanding known deposit boundaries.

As per today’s report, notable intercepts include 36.6m grading 6.5g/t gold equivalent from a depth of 700m alongside high-tenor surface results highlighting shallower updip extensions.

The core investment thesis centers on strategic exposure to critical minerals, with antimony providing attractive resource diversity alongside favourable long-term gold market expectations.

The analysts expect upcoming intermediate catalysts to include an updated exploration target range in the second quarter of 2026 followed by a maiden mineral resource estimate in the first quarter of 2027.

This report was published on June 11, 2026.

Target price is $14.40 Current Price is $8.76 Difference: $5.64
If SX2 meets the Shaw and Partners target it will return approximately 64% (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

TSO    TESORO GOLD LIMITED

Gold & Silver – Overnight Price: $0.91

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

Canaccord Genuity initiates coverage on Tesoro Gold with a Speculative Buy rating and a $2.80 target price, highlighting the development potential of the El Zorro Gold Project in Chile.

The September 2025 Scoping Study outlined a 3.0Mtpa carbon-in-pulp operation producing approximately 1.26Moz over 13.5 years, with forecast life-of-mine all-in sustaining costs of US$1,216/oz and pre-production capital of US$248m.

A resource update is expected in the June quarter of 2026 following more than 20,000m of infill drilling, while a Definitive Feasibility Study is targeted for completion in DecQ26 and a fully funded 38,000m drilling campaign remains underway across six rigs.

The analyst highlights additional upside from a more than 40km prospective gold corridor surrounding the flagship Ternera deposit, with several exploration targets progressing toward drilling and only nominal exploration value currently reflected in valuation assumptions.

The investment thesis centres on a simple processing flowsheet, favourable Chilean infrastructure and regulatory settings, and resource growth potential beyond the current 1.82Moz constrained resource estimate.

This report was published on June 13, 2026.

Target price is $2.80 Current Price is $0.91 Difference: $1.89
If TSO meets the Canaccord Genuity target it will return approximately 208% (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

TTM    TITAN MINERALS LIMITED

Gold & Silver – Overnight Price: $0.69

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

Canaccord Genuity maintains a Speculative Buy rating on Titan Minerals with a $2.10 target price following encouraging trenching results and the recommencement of drilling at the Dynasty Gold Project in Ecuador.

Recent trenching at the Cerro Verde prospect identified multiple high-grade near-surface intercepts and extended mineralisation around 400m to the west and 150m to the east of the existing 2.7Moz gold and 16.2Moz silver resource, highlighting potential for shallow resource growth.

Drilling has resumed with three diamond rigs targeting resource extensions and new exploration areas, including the Brecha-Comanche zone where previous drilling intersected broad high-grade mineralisation, with first assay results expected within four to six weeks.

The analyst notes resource conversion remains important given around 70% of the current Dynasty resource is classified as Inferred, while scoping study work continues ahead of a targeted release by DecQ26.

Canaccord Genuity maintains its valuation and recommendation, with the investment case centred on resource growth, project de-risking and the potential development of a long-life open-pit operation.

This report was published on June 11, 2026.

Target price is $2.10 Current Price is $0.69 Difference: $1.41
If TTM meets the Canaccord Genuity target it will return approximately 204% (excluding dividends, fees and charges).

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

WES    WESFARMERS LIMITED

Consumer Products & Services – Overnight Price: $86.47

Jarden rates ((WES)) as Neutral (3) –

Jarden maintains a Neutral rating for Wesfarmers with its target price increased to $79.30 following an iterative Strategy Day highlighting network growth, data scale, and digital acceleration.

The analyst notes a shifting operational focus toward leadership in artificial intelligence and automation to drive long-term total addressable market expansions across the retail divisions.

Planned property developments involve 100 new Bunnings projects to FY30 alongside expanding the Kmart Plan C format from 16 to 40 stores by the end of FY27.

Within the chemicals, energy, and fertilisers division, FY27 spodumene production is projected at 190kt while a key lithium expansion update remains scheduled for 1H27.

A -3% cut is applied to the FY27 earnings per share forecast to reflect progressive growth investments. The broker suggests the conglomerate remains well positioned to capture market share through its value pricing model.

This report was published on June 10, 2026.

Target price is $79.30 Current Price is $86.47 Difference: minus $7.17 (current price is over target).
If WES meets the Jarden target it will return approximately minus 8% (excluding dividends, fees and charges – negative figures indicate an expected loss).
Current consensus price target is $78.80, suggesting downside of -8.9%(ex-dividends)

Forecast for FY26:

Current consensus EPS estimate is 251.2, implying annual growth of -2.6%.
Current consensus DPS estimate is 213.6, implying a prospective dividend yield of 2.5%.
Current consensus EPS estimate suggests the PER is 34.4.

Forecast for FY27:

Current consensus EPS estimate is 273.9, implying annual growth of 9.0%.
Current consensus DPS estimate is 236.0, implying a prospective dividend yield of 2.7%.
Current consensus EPS estimate suggests the PER is 31.6.

Market Sentiment: -0.1
All consensus data are updated until yesterday. FNArena’s consensus calculations require a minimum of three sources

YRL    YANDAL RESOURCES LIMITED

Gold & Silver – Overnight Price: $0.19

Shaw and Partners rates ((YRL)) as Initiation of coverage with Buy (1) –

Shaw and Partners initiates coverage on Yandal Resources with a Buy rating and a $0.51 target price based on an in-ground asset valuation framework.

The explorer holds a baseline resource of 450koz of gold across granted Western Australian mining leases, demonstrating clear extension potential into deeper fresh rock, the broker concludes.

Near-term exploration activity accelerates following the establishment of a dedicated 21-person operations camp, fully funded through a cash reserve of $14.7m.

The analysts believe the deposits carry high corporate appeal for underutilized nearby mills, offering strategic infrastructure sharing or toll-treatment partnership opportunities.

The core thesis models resource expansion toward 1m ounces within twelve months to lift the valuation baseline toward peer group explorer averages.

This report was published on June 11, 2026.

Target price is $0.51 Current Price is $0.19 Difference: $0.32
If YRL meets the Shaw and Partners target it will return approximately 168% (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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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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