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: ASX50 | 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

$7.11

31 Jul
2025

-0.220

OPEN

$7.03

-3.00%

HIGH

$7.11

8,459,771

LOW

$6.96

TARGET
$6.871 -3.4% 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 51.4 xxx
DPS (cps) xxx 7.0 21.8 xxx
EPS Growth xxx 100.0% 100.0% xxx
DPS Growth xxx 75.0% 100.0% xxx
PE Ratio xxx N/A 13.7 xxx
Dividend Yield xxx N/A 3.1% xxx
Div Pay Ratio(%) xxx 31.8% 42.5% xxx

Dividend yield today if purchased 3 years ago: 2.61%

DIVIDEND YIELD CALCULATOR

Dividend Yield Today On Last Actual Payout :

 0.99

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

-0.6

No. Of Recommendations

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

Bell Potter

xx/xx/xxxx

3

xxxx

$xx.xx

xx.xx%

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Ord Minnett

xx/xx/xxxx

4

xxxxxxx

$xx.xx

xx.xx%

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Morgans

xx/xx/xxxx

4

xxxxxxxxx xx xxxx xxxx xxxx

$xx.xx

xx.xx%

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Macquarie

17/07/2025

5

Underperform

$7.00

-1.55%

Evolution Mining's 4Q25 production and all-in sustaining costs came in within guidance and met consensus but were better than Macquarie's expectations by 7% and 6%, respectively.

The analyst notes FY26 group-level guidance points to higher all-in sustaining costs, 11% above consensus and 5% above expectations, while production is in line. The full details are flagged for August 13.

Net debt, excluding bullion and leases, was lower by $147m than the $849m anticipated, while net debt improved $244m on the prior quarter after dividend payments of $62m and $29m in tax payments.

No change to the $7 target price and Underperform rating. Macquarie lifts FY25 EPS by 5% and lowers FY26 by -9% due to higher costs.

FORECAST
Macquarie forecasts a full year FY25 dividend of 21.00 cents and EPS of 46.20 cents.
Macquarie forecasts a full year FY26 dividend of 18.00 cents and EPS of 54.10 cents.

Citi

xx/xx/xxxx

3

xxxxxxx

$xx.xx

xx.xx%

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UBS

xx/xx/xxxx

5

xxxx

$xx.xx

xx.xx%

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Morgan Stanley

xx/xx/xxxx

5

xxxxxxxxxxx

$xx.xx

xx.xx%

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Access Stockbroker Research History >
EXTRA COVERAGE
Display All Commentary

No. Of Recommendations

2

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

Jarden

xx/xx/xxxx

4

xxxxxxxxxxx

$xx.xx

xx.xx%

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Canaccord Genuity

21/07/2025

1

Buy

$8.50

19.55%

Evolution Mining's 4Q25 group gold production of 182koz beat Canaccord Genuity's forecast of 173koz but matched the consensus, while copper production was in line. Cost was lower vs the broker's forecast but higher than consensus.

The company achieved FY25 production guidance on both gold and copper. For FY26, the production guidance was broadly in line with the analyst's estimate but cost forecast was higher.

The broker marginally lifted FY26 gold production forecast and slightly lowered copper production estimate. Cost forecast was, however, raised significantly, up 10% for FY26 and up 6% for FY27.

Buy. Target price $8.50.

FORECAST
Canaccord Genuity forecasts a full year FY25 dividend of 20.00 cents and EPS of 50.00 cents.
Canaccord Genuity forecasts a full year FY26 dividend of 27.00 cents and EPS of 69.00 cents.
Access Extra Coverage Research History >

EVN STOCK CHART

FNArena News on EVN

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Jul 24 2025 - Rudi's View
2
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Jul 23 2025 - Rudi's View
3
Australian Broker Call *Extra* Edition – Jul 22, 2025

Jul 22 2025 - Daily Market Reports
4
Australian Broker Call *Extra* Edition – Jul 21, 2025

Jul 21 2025 - Daily Market Reports
5
Weekly Ratings, Targets, Forecast Changes – 18-07-25

Jul 21 2025 - Weekly Reports

Latest Gold & Silver News

1
Aurelia Metals’ Shift To Copper Excites

Jul 11 2025 - Commodities
2
Plenty Of Potential For Greatland Resources

Jul 04 2025 - Commodities
3
Evolution’s Pullback An Opportunity?

Jul 01 2025 - Technicals
4
Silver Is On the Move

Jun 10 2025 - Technicals
5
De Grey Offsets Northern Star’s Production Doubt

May 05 2025 - Commodities
6
Evolution Mining Outperforming, Too Much

Apr 17 2025 - Australia
7
Favourite ASX-Gold Exposures

Apr 09 2025 - Commodities
8
The Risk For Gold Heading Into A Tariff Storm

Mar 26 2025 - Technicals
9
Northern Star Has Broken Out

Mar 18 2025 - Technicals
10
Gold Miners On The Rise

Mar 11 2025 - Technicals