Daily Market Reports | 11:00 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.
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)
BC8 BM1 BNZ CYM EIQ GGP HRN MMI NEU RMS SGLLV YRL
RMS RAMELIUS RESOURCES LIMITED
Gold & Silver - Overnight Price: $3.07
Canaccord Genuity rates ((RMS)) as Buy (1) -
Canaccord Genuity maintains a Buy rating for Ramelius Resources with a $6.85 target price following the announced sale of the Edna May Gold Hub.
The $300m transaction with Forrestania Resources ((FRS)) comprises $200m in upfront cash and $100m in scrip, subject to specific capital raising conditions.
The analyst notes the operation has remained on care and maintenance since April 2025 and carries zero value within current sum-of-the-parts modelling.
Assuming successful completion in the September quarter of 2026, pro forma cash balances are expected to exceed $800m before impending stamp duty and dividend payments.
The divestment monetises a non-core asset while retaining exposure to future upside through a substantial residual equity position in the acquiring entity, the report points out.
This report was published on June 29, 2026.
Target price is $6.85 Current Price is $3.07 Difference: $3.78
If RMS meets the Canaccord Genuity target it will return approximately 123% (excluding dividends, fees and charges).
Current consensus price target is $5.10, suggesting upside of 66.1%(ex-dividends)
Forecast for FY26:
Current consensus EPS estimate is 10.8, implying annual growth of -73.7%.
Current consensus DPS estimate is 4.4, implying a prospective dividend yield of 1.4%.
Current consensus EPS estimate suggests the PER is 28.4.
Forecast for FY27:
Current consensus EPS estimate is 26.9, implying annual growth of 149.1%.
Current consensus DPS estimate is 4.7, implying a prospective dividend yield of 1.5%.
Current consensus EPS estimate suggests the PER is 11.4.
Market Sentiment: 1.0
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources
SGLLV RICEGROWERS LIMITED
Food, Beverages & Tobacco - Overnight Price: $15.20
Research as a Service (RaaS) rates ((SGLLV)) as No Rating (-1) -
Ricegrowers reported FY26 adjusted EBITDA of $140.6m, down -5% and slightly below Research as a Service's (RaaS) estimate. The volatile trading environment across the year was notable, commentary states.
Management has guided to FY27 revenue that is slightly lower while net profit is expected to be materially weaker on the back of an under-recovery of cost allocations amid a lower Australian rice harvest.
The analyst now forecasts a decline in FY27 EPS of -26%. Valuation is reduced to $16.20 from $18.20 on the assumption rice harvests will be below "Goldilocks" levels for at least the next two years.
Research as a Service (RaaS) research doesn't carry any targets, ratings or recommendations. Investors can draw conclusions from valuations and commentary.
This report was published on June 29, 2026.
Target price is $16.20 Current Price is $15.20 Difference: $1
If SGLLV meets the Research as a Service (RaaS) target it will return approximately 7% (excluding dividends, fees and charges).
The company's fiscal year ends in April.
Forecast for FY27:
Research as a Service (RaaS) forecasts a full year FY27 EPS of 81.00 cents.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 18.77.
Forecast for FY28:
Research as a Service (RaaS) forecasts a full year FY28 EPS of 97.00 cents.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 15.67.
Market Sentiment: 1.0
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: $0.20
Shaw and Partners rates ((YRL)) as Buy (1) -
Shaw and Partners maintains a Buy rating for Yandal Resources with a $0.51 target price following encouraging diamond drilling results at the Flushing Meadows deposit.
The first deeper drill hole into fresh rock successfully intercepted significant gold mineralisation at 300m below the surface, validating structural geological concepts across the broader strike length.
The analyst considers the current market capitalisation heavily discounted relative to the existing 450koz resource inventory located primarily on granted mining leases.
Commentary concludes extensional drilling momentum provides a realistic pathway to achieving a combined 1Moz resource baseline within the next year.
Achieving this critical mass scale could unlock synergistic corporate appeal given the abundance of existing third-party processing infrastructure across the Yandal region, the report concludes.
This report was published on June 29, 2026.
Target price is $0.51 Current Price is $0.20 Difference: $0.315
If YRL meets the Shaw and Partners target it will return approximately 162% (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 2.20 cents.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is minus 8.86.
Forecast for FY27:
Shaw and Partners forecasts a full year FY27 dividend of 0.00 cents and EPS of minus 1.90 cents.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is minus 10.26.
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.