MLG OZ LIMITED (MLG)
Share Price Analysis and Chart

27/03/2026

1

Buy

$1.20

43.71%

Morgans notes the developers and contractors sector, which generally performed in line with the ASX All Ords during the month, has since sold off due to concerns around a global slowdown and the impact of fuel shortages on mining following the start of the Iran conflict.

Assuming conditions stabilise, sector top stock picks are ALS Ltd ((ALQ)), Imdex ((IMD)), Civmec ((CVL)), NRW Holdings ((NWH)) and SRG Global ((SRG)).

For a protracted recovery, although the rating is Hold, Ventia ((VNT)) is in the optimal position as an inflation beneficiary (cost reimbursable) in defensive non-mining end markets, the broker highlights.

Morgans retains a Speculative Buy rating and $1.20 target on MLG Oz. The analyst highlights earnings (EBITDA) advanced 25% y/y at the interim results, despite more moderate top line growth of 5% y/y, indicating a focus on margins.

Management pointed to a robust outlook for FY26 due to strength in gold, which is underpinning demand for services.

FORECAST
Morgans forecasts a full year FY26 EPS of 12.20 cents.
Morgans forecasts a full year FY27 EPS of 15.20 cents.