ALKANE RESOURCES LIMITED (ALK)
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ALK

ALK - ALKANE RESOURCES LIMITED

FNArena Sector : Gold & Silver
Year End: June
GICS Industry Group : Materials
Debt/EBITDA: 0.03
Index: ASX200 | ASX300 | ALL-ORDS

Alkane Resources is a dual ASX/TSX-listed gold and antimony producer with operating mines at Tomingley in NSW, Costerfield in Victoria and Björkdal in Sweden following its 2025 merger with Mandalay Resources.

LAST PRICE CHANGE +/- CHANGE % VOLUME

$1.91

07 Sep
2026

0.020

OPEN

$1.89

1.06%

HIGH

$1.91

4,854,044

LOW

$1.87

TARGET
$2.167 13.4% upside
Franking for last dividend paid out: 100%
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FNARENA'S MARKET CONSENSUS FORECASTS
ALK: 1
Title FY25
Actual		 FY26
Actual		 FY27
Forecast		 FY28
Forecast
EPS (cps) xxx 17.7 24.3 xxx
DPS (cps) xxx 2.0 2.0 xxx
EPS Growth xxx 100.0% 37.4% xxx
DPS Growth xxx N/A 0.0% xxx
PE Ratio xxx N/A 7.9 xxx
Dividend Yield xxx N/A 1.0% xxx
Div Pay Ratio(%) xxx 11.3% 8.2% xxx

Dividend yield today if purchased 3 years ago: 3.15%

DIVIDEND YIELD CALCULATOR

Dividend Yield Today On Last Actual Payout :

 1.04

Estimated Dividend Growth
(Average Of Past Three Years)

  %

Amount Invested

 $ 

Tell Me The Dividend After This Many Years
Past performance is no guarantee for the future. Investors should take into account that heavy swings in share price or exceptional circumstances (a la 2009) can have a significant impact on short term calculations and averages

Last ex-div: 07/09 - (franking ex-div 2.00c)

HISTORICAL DATA ARE ALL IN AUD
Copyright © 2026 FactSet UK Limited. All rights reserved
Title 202120222023202420252026
EPS Basic xxxxxxxxxxxxxxx17.7
DPS All xxxxxxxxxxxxxxx2.0
Sales/Revenue xxxxxxxxxxxxxxx935.8 M
Book Value Per Share xxxxxxxxxxxxxxx81.7
Net Operating Cash Flow xxxxxxxxxxxxxxx460.3 M
Net Profit Margin xxxxxxxxxxxxxxx24.44 %

EPS Basic

DPS All

Sales/Revenue

Book Value Per Share

Net Operating Cash Flow

Net Profit Margin

Title 202120222023202420252026
Return on Capital Employed xxxxxxxxxxxxxxx31.30 %
Return on Invested Capital xxxxxxxxxxxxxxx30.65 %
Return on Assets xxxxxxxxxxxxxxx21.82 %
Return on Equity xxxxxxxxxxxxxxx31.30 %
Return on Total Capital xxxxxxxxxxxxxxx41.47 %
Free Cash Flow ex dividends xxxxxxxxxxxxxxx317.7 M

Return on Capital Employed

Return on Invested Capital

Return on Assets

Return on Equity

Return on Total Capital

Free Cash Flow ex dividends

Title 202120222023202420252026
Short-Term Debt xxxxxxxxxxxxxxx10 M
Long Term Debt xxxxxxxxxxxxxxx5 M
Total Debt xxxxxxxxxxxxxxx15 M
Goodwill - Gross xxxxxxxxxxxxxxx-
Cash & Equivalents - Generic xxxxxxxxxxxxxxx432 M
Price To Book Value xxxxxxxxxxxxxxx1.68

Short-Term Debt

Long Term Debt

Total Debt

Goodwill - Gross

Cash & Equivalents - Generic

Price To Book Value

Title 202120222023202420252026
Capex xxxxxxxxxxxxxxx173.7 M
Capex % of Sales xxxxxxxxxxxxxxx18.56 %
Cost of Goods Sold xxxxxxxxxxxxxxx602 M
Selling, General & Admin. Exp & Other xxxxxxxxxxxxxxx15 M
Research & Development xxxxxxxxxxxxxxx-
Investments - Total xxxxxxxxxxxxxxx15 M

Capex

Capex % of Sales

Cost of Goods Sold

Selling, General & Admin. Exp & Other

Research & Development

Investments - Total

EXPERT VIEWS
Display All Commentary

Sentiment Indicator

1.0

No. Of Recommendations

3
BROKER DATE RATING RECOMMENDATION TARGET PRICE % TO REACH TARGET COMMENTARY

UBS

xx/xx/xxxx

1

xxxxxxx xx xxx xxxx xxxxxxx

$xx.xx

xx.xx%

Broker commentary and detailed analysis is available for Full Members Only.
Login above or Get a Free Trial

Bell Potter

26/08/2026

1

Buy

$2.15

12.57%

Bell Potter maintains its Buy recommendation for Alkane Resources with its target price increased to $2.15 from $2.10 following a transformational FY26 financial result featuring record revenue of $936m, EBITDA of $471m, and underlying NPAT of $229m alongside a maiden dividend of 2cps and a share buyback announcement of up to $50m.

Operational performance was driven by the successful merger with Mandalay Resources completed in August 2025, bringing together a diversified multi-asset production base that delivered 168,337 AuEq oz at an AISC of $2,925/oz.

FY27-FY29 EPS forecasts have been adjusted by -3% to -5% to reflect lower antimony pricing, higher capital expenditure, and increased depreciation and amortisation.

The analyst highlights the company boasts a robust, debt-free balance sheet holding cash and bullion of $439m, offering strong liquidity to support organic growth and attractive valuation multiples.

FORECAST
Bell Potter forecasts a full year FY27 dividend of 4.00 cents and EPS of 24.30 cents.
Bell Potter forecasts a full year FY28 dividend of 6.00 cents and EPS of 35.00 cents.

Ord Minnett

xx/xx/xxxx

1

xxx

$xx.xx

xx.xx%

Broker commentary and detailed analysis is available for Full Members Only.
Login above or Get a Free Trial
Access Stockbroker Research History >
EXTRA COVERAGE
Display All Commentary

No. Of Recommendations

1

Please note: unlike Broker Call Report, BC Extra is not updated daily. The info you see might not be the latest. FNArena does its best to update ASAP.

BROKER DATE RATING RECOMMENDATION TARGET PRICE % TO REACH TARGET COMMENTARY

Moelis

24/08/2026

3

Downgrade to Hold from Buy

$1.80

-5.76%

Moelis changes its recommendation for Alkane Resources to Hold from Buy with its target price increased to $1.80 from $1.70 following an FY26 financial result representing a slight miss against estimates, largely attributable to negative non-cash adjustments.

Revenue reached $935.8m while adjusted net profit after tax came in at $234.6m compared to broker estimates of $238.3m, alongside the activation of a broader capital allocation framework featuring an on-market share buyback program of up to $50m over the next twelve months to accompany a 2c dividend.

The broker's estimates incorporate FY26 actuals, asset-level FY27 production and capital expenditure guidance adjustments, plus an added year of mine life to Costerfield.

The analyst notes that strong recent share price performance driven by rising gold sector sentiment has eroded prior valuation support, leading to the rating downgrade despite potential continuation of momentum.

FORECAST
Moelis forecasts a full year FY27 dividend of 2.00 cents and EPS of 21.30 cents.
Moelis forecasts a full year FY28 dividend of 2.00 cents and EPS of 26.40 cents.
Access Extra Coverage Research History >

ALK STOCK CHART

FNArena News on ALK

1
Rudi’s View: Resources, Healthcare & Best Buys

Sep 03 2026 - Rudi's View
2
Rudi’s View: Resilient, But August Fails To Excite

Sep 02 2026 - Rudi's View
3
In Case You Missed It – BC Extra Upgrades & Downgrades – 28-08-26

Aug 28 2026 - Weekly Reports
4
FNArena Corporate Results Monitor – 26-08-2026

Aug 26 2026 - Australia
5
Australian Broker Call *Extra* Edition – Aug 24, 2026

Aug 24 2026 - Daily Market Reports

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