POLYMETALS RESOURCES LIMITED (POL)
Share Price Analysis and Chart

15/10/2026

1

Buy

$1.00

78.57%

Ord Minnett raises its zinc price forecasts for 2027 and 2028 by 9% and 5%, respectively.

For Polymetals Resources, Ord Minnett also adjusts its forecasts following the company's recent preliminary quarterly and financial results, including raising its assumed cost of debt to 8% from 7%.

The company is exposed to silver and zinc prices, with copper representing exploration upside rather than established production.

The target falls by -15c to $1.00.

FORECAST
Ord Minnett forecasts a full year FY27 dividend of 0.00 cents and EPS of 18.00 cents.
Ord Minnett forecasts a full year FY28 dividend of 0.00 cents and EPS of 25.00 cents.

15/10/2026

1

Buy

$0.75

33.93%

Shaw and Partners maintains its Buy rating for Polymetals Resources while lowering its target price to $0.75 from $1.10 following a September quarter operational update that fell well below expectations.

Lower volumes stemmed from a 10-day ventilation shutdown alongside operational disruptions during the transition to contract mining labour.

Operational adjustments drive a -42% reduction in FY27 payable silver forecasts to 1.71moz, leading to a -37% drop in FY27 revenue estimates to $252m and a -62% cut to FY27 EBITDA to $84m.

Mining cost reductions are pushed out by one year, driving a -6% reduction in FY28 EBITDA estimates to $124m.

The analyst notes the transition to underground contract mining serves as the primary operational lever to restore productivity and meet development targets at the Endeavour asset.

FORECAST
Shaw and Partners forecasts a full year FY27 dividend of 0.00 cents and EPS of 15.70 cents.
Shaw and Partners forecasts a full year FY28 dividend of 0.00 cents and EPS of 25.30 cents.