Daily Market Reports | 11:31 AM
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.
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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)
3DA BCI BNZ CCV EQR GL1 IOD LIC MM1 MPK PDI PMT SLS TCG WC8
3DA AMAERO LIMITED
Industrial Sector Contractors & Engineers - Overnight Price: $0.30
Research as a Service (RaaS) rates ((3DA)) as No Rating (-1) -
Research as a Service (RaaS) highlights Amaero has commissioned its third electrode induction melting gas atomiser ahead of schedule at its Tennessee facility.
The analyst notes this will expand annual production capacity to around 200 tonnes of refractory alloy powders and 480 tonnes of titanium alloy powders.
The completion of the company’s three-year $72m capital investment program is seen as positioning Amaero as the largest domestic US producer of spherical refractory and titanium alloy powders.
The company has also completed its re-domicile to the US, paving the way for a potential US listing in late 2026 or early 2027.
A valuation of 72c is maintained.
Research as a Service (RaaS) research standard doesn't carry any targets, ratings or recommendations. Investors can draw conclusions from valuations and commentary.
This report was published on June 23, 2026.
Target price is $0.72 Current Price is $0.30 Difference: $0.415
If 3DA meets the Research as a Service (RaaS) target it will return approximately 136% (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 minus 2.90 cents.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is minus 10.52.
Forecast for FY27:
Research as a Service (RaaS) 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 17.94.
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources
BCI BCI MINERALS LIMITED
Mining - Overnight Price: $0.36
Shaw and Partners rates ((BCI)) as Initiation of coverage with Buy (1) -
Shaw and Partners initiates coverage on BCI Minerals with a Buy recommendation and $0.75 price target.
The group's 100% owned flagship Mardie Salt and Potash Project on the Pilbara coast stands at 81% construction completion, positioning it to become Australia's largest solar salt operation.
The analyst notes the asset is fully funded through a syndicated debt package, with key near-term valuation re-ratings tied to the delivery of first salt shipments by early calendar year 2027.
A secondary structural value modifier centers on extracting Sulphate of Potash from residual waste bitterns, adding a high-margin premium agricultural fertiliser stream.
Predictive infrastructure-like cash flows are projected to scale significantly over a multi-decade operational mine life once full steady-state commercial output thresholds are achieved.
This report was published on June 22, 2026.
Target price is $0.75 Current Price is $0.36 Difference: $0.385
If BCI meets the Shaw and Partners target it will return approximately 105% (excluding dividends, fees and charges).
The company's fiscal year ends in June.
Forecast for FY26:
Shaw and Partners forecasts a full year FY26 dividend of 0.00 cents and EPS of minus 3.70 cents.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is minus 9.86.
Forecast for FY27:
Shaw and Partners forecasts a full year FY27 dividend of 0.00 cents and EPS of minus 6.30 cents.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is minus 5.79.
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources
BNZ BENZ MINING CORP.
Gold & Silver - Overnight Price: $2.12
Canaccord Genuity rates ((BNZ)) as Speculative Buy (1) -
Canaccord Genuity maintains a Speculative Buy rating for Benz Mining with a $3.15 target price following encouraging initial metallurgical testwork results from the Icon prospect.
Detailed testing confirms free-milling characteristics across multiple lithological domains, establishing that the gold mineralisation is highly amenable to conventional cyanide leach processing circuits.
The analyst highlights strong recoveries achieved across broad grade brackets, including a favourable 89% extraction average from lower-grade halo zones.
Positive metallurgical responses from marginal halo volumes indicate potential to expand future mill feed inventories and systematically reduce open-pit strip ratios.
Active field drilling operations are ramping up to aggressively test high-grade continuity targets along the multi-kilometer regional mineralised corridor.
This report was published on June 18, 2026.
Target price is $3.15 Current Price is $2.12 Difference: $1.03
If BNZ meets the Canaccord Genuity target it will return approximately 49% (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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