EVOLUTION MINING LIMITED (EVN)
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EVN

EVN - EVOLUTION MINING LIMITED

FNArena Sector : Gold & Silver
Year End: June
GICS Industry Group : Materials
Debt/EBITDA: 1.33
Index: ASX100 | ASX200 | ASX300 | ALL-ORDS

Evolution Mining is an Australian gold and gold/copper concentrate producer. It owns and operates five mines in NSW, QLD and WA. Evolution was created in 2011 through the merger of Catalpa Resources and Conquest Mining.

LAST PRICE CHANGE +/- CHANGE % VOLUME

$6.36

10 Mar
2025

0.090

OPEN

$6.30

1.44%

HIGH

$6.36

6,825,443

LOW

$6.19

TARGET
$5.964 -6.2% downside
Franking for last dividend paid out: 100%
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FNARENA'S MARKET CONSENSUS FORECASTS
EVN: 1
Title FY23
Actual		 FY24
Actual		 FY25
Forecast		 FY26
Forecast
EPS (cps) xxx 22.0 43.7 xxx
DPS (cps) xxx 7.0 16.6 xxx
EPS Growth xxx 100.0% 98.3% xxx
DPS Growth xxx 75.0% 100.0% xxx
PE Ratio xxx N/A 14.0 xxx
Dividend Yield xxx N/A 2.7% xxx
Div Pay Ratio(%) xxx 31.8% 37.9% xxx

Dividend yield today if purchased 3 years ago: 1.58%

DIVIDEND YIELD CALCULATOR

Dividend Yield Today On Last Actual Payout :

 1.15

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: 29/08 - ex-div 2c (franking 100%)

HISTORICAL DATA ARE ALL IN AUD
Copyright © 2025 FactSet UK Limited. All rights reserved
Title 201920202021202220232024
EPS Basic xxxxxxxxxxxxxxx22.0
DPS All xxxxxxxxxxxxxxx7.0
Sales/Revenue xxxxxxxxxxxxxxx3,215.8 M
Book Value Per Share xxxxxxxxxxxxxxx208.6
Net Operating Cash Flow xxxxxxxxxxxxxxx1,281.4 M
Net Profit Margin xxxxxxxxxxxxxxx13.13 %

EPS Basic

DPS All

Sales/Revenue

Book Value Per Share

Net Operating Cash Flow

Net Profit Margin

Title 201920202021202220232024
Return on Capital Employed xxxxxxxxxxxxxxx11.36 %
Return on Invested Capital xxxxxxxxxxxxxxx7.83 %
Return on Assets xxxxxxxxxxxxxxx5.42 %
Return on Equity xxxxxxxxxxxxxxx11.36 %
Return on Total Capital xxxxxxxxxxxxxxx14.86 %
Free Cash Flow ex dividends xxxxxxxxxxxxxxx723.7 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 201920202021202220232024
Short-Term Debt xxxxxxxxxxxxxxx127 M
Long Term Debt xxxxxxxxxxxxxxx1,893 M
Total Debt xxxxxxxxxxxxxxx2,019 M
Goodwill - Gross xxxxxxxxxxxxxxx-
Cash & Equivalents - Generic xxxxxxxxxxxxxxx403 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 201920202021202220232024
Capex xxxxxxxxxxxxxxx918.3 M
Capex % of Sales xxxxxxxxxxxxxxx28.55 %
Cost of Goods Sold xxxxxxxxxxxxxxx2,313 M
Selling, General & Admin. Exp & Other xxxxxxxxxxxxxxx65 M
Research & Development xxxxxxxxxxxxxxx-
Investments - Total xxxxxxxxxxxxxxx128 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

-0.1

No. Of Recommendations

7
BROKER DATE RATING RECOMMENDATION TARGET PRICE % TO REACH TARGET COMMENTARY

Morgans

xx/xx/xxxx

3

xxxxxxxxx xxxxxxxx xxxx xxxx

$xx.xx

xx.xx%

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UBS

xx/xx/xxxx

3

xxxxxxx xx xxxxxxx xxxx xxxx

$xx.xx

xx.xx%

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Bell Potter

xx/xx/xxxx

1

xxx

$xx.xx

xx.xx%

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Morgan Stanley

13/02/2025

3

Equal-weight

$5.55

-12.74%

Morgan Stanley highlights a robust 1H25 earnings result from Evolution Mining, with earnings before interest, tax, and depreciation exceeding the broker’s forecast by 16% and consensus by 11%, largely due to better-than-anticipated revenue growth.

The announced dividend per share was also better than expected, and management reintroduced the dividend reinvestment plan at a -5% discount.

The broker notes that net debt rose to $1.482bn, above both forecast and consensus, with no change to guidance.

Equal-weight. Target price $5.55. Industry view: Attractive. Evolution Mining remains the preferred gold stock at Morgan Stanley.

FORECAST
Morgan Stanley forecasts a full year FY25 dividend of 15.00 cents and EPS of 44.00 cents.
Morgan Stanley forecasts a full year FY26 dividend of 22.00 cents and EPS of 45.00 cents.

Ord Minnett

xx/xx/xxxx

4

xxxxxxxxx xx xxxxxxx xxxx xxxx

$xx.xx

xx.xx%

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Macquarie

xx/xx/xxxx

5

xxxxxxxxxxxx

$xx.xx

xx.xx%

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Citi

xx/xx/xxxx

3

xxxxxxx

$xx.xx

xx.xx%

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Access Stockbroker Research History >
EXTRA COVERAGE
Display All Commentary

No. Of Recommendations

3

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

Canaccord Genuity

xx/xx/xxxx

3

xxxxxxxxx xx xxxx xxxx xxx

$xx.xx

xx.xx%

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Jarden

17/02/2025

4

Underweight

$4.68

-26.42%

Jarden highlights Evolution Mining's strong 1H25 result beat consensus but this was primarily related to the accounting treatment for the Northparkes Triple Flag stream.

The company articulated the rise in gold prices could top up mine cash flow, and hence the broker finds it somewhat incongruous that a DRP will be reinstated, particularly if current annualised free cash flow yields are sustained.

Target price cut to $4.68 from $4.72. Underweight maintained on valuation grounds.

FORECAST
Jarden forecasts a full year FY25 dividend of 13.00 cents and EPS of 35.60 cents.
Jarden forecasts a full year FY26 dividend of 11.00 cents and EPS of 36.00 cents.

Goldman Sachs

xx/xx/xxxx

3

xxxxxxx

$xx.xx

xx.xx%

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Access Extra Coverage Research History >

EVN STOCK CHART

FNArena News on EVN

1
Weekly Ratings, Targets, Forecast Changes – 21-02-25

Feb 24 2025 - Weekly Reports
2
In Case You Missed It – BC Extra Upgrades & Downgrades – 21-02-25

Feb 21 2025 - Weekly Reports
3
Australian Broker Call *Extra* Edition – Feb 18, 2025

Feb 18 2025 - Daily Market Reports
4
Australian Broker Call *Extra* Edition – Feb 17, 2025

Feb 17 2025 - Daily Market Reports
5
Weekly Ratings, Targets, Forecast Changes – 14-02-25

Feb 17 2025 - Weekly Reports

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