EMERALD RESOURCES NL (EMR)
Share Price Analysis and Chart

03/07/2025

3

Upgrade to Hold from Lighten

$4.00

4.17%

Ord Minnett reviewed forecasts for mining companies ahead of the June quarterlies and marked-to-market commodity prices.

The broker believes there's a risk of FY26 capex and operating costs guidance exceeding expectations, with gold and lithium miners more at risk than others.

Strong iron ore volumes are likely for the June quarter due to improved weather conditions, and less so for coal.

Rating for Emerald Resources upgraded to Hold from Lighten. Target cut to $4.00 from $4.10.

26/06/2025

1

Buy

$5.10

32.81%

Emerald Resources downgraded 4Q25 production guidance to 21koz at a cost of US$1,200/oz from 25-30koz at US$900-1,000/oz.

Canaccord Genuity notes the downgrade was due to the continuation of issues in the early part of 4Q from 3Q where cut-back activities restricted floor access to the ore zone.

Despite the broker's conservative forecast, it had to revise its forecasts to 21koz for 4Q at US$1,220/oz.

Normal activities resumed in the latter part of the quarter, and the company expects FY26 to deliver 105-125koz vs previous guidance of 110-125koz at a cost of US$966/oz.

Canaccord Genuity is forecasting 113koz at US$1,007/oz cost. Buy. Target cut to $5.10 from $5.95.

FORECAST
Canaccord Genuity forecasts a full year FY25 dividend of 0.00 cents and EPS of 19.00 cents.
Canaccord Genuity forecasts a full year FY26 dividend of 0.00 cents and EPS of 36.00 cents.