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: 0.8
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

$14.76

27 Jan
2026

-0.100

OPEN

$14.99

-0.67%

HIGH

$15.13

10,790,719

LOW

$14.54

TARGET
$13.167 -10.8% downside
Franking for last dividend paid out: 100%
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FNARENA'S MARKET CONSENSUS FORECASTS
EVN: 1
Title FY24
Actual		 FY25
Actual		 FY26
Forecast		 FY27
Forecast
EPS (cps) xxx 46.5 110.6 xxx
DPS (cps) xxx 20.0 48.1 xxx
EPS Growth xxx 100.0% 100.0% xxx
DPS Growth xxx 100.0% 100.0% xxx
PE Ratio xxx N/A 13.9 xxx
Dividend Yield xxx N/A 3.1% xxx
Div Pay Ratio(%) xxx 43.0% 43.5% xxx

Dividend yield today if purchased 3 years ago: 6.23%

DIVIDEND YIELD CALCULATOR

Dividend Yield Today On Last Actual Payout :

 1.30

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: 03/09 - ex-div 13.00c (franking 100%)

HISTORICAL DATA ARE ALL IN AUD
Copyright © 2026 FactSet UK Limited. All rights reserved
Title 202020212022202320242025
EPS Basic xxxxxxxxxxxxxxx46.5
DPS All xxxxxxxxxxxxxxx20.0
Sales/Revenue xxxxxxxxxxxxxxx4,351.5 M
Book Value Per Share xxxxxxxxxxxxxxx247.6
Net Operating Cash Flow xxxxxxxxxxxxxxx1,966.6 M
Net Profit Margin xxxxxxxxxxxxxxx21.28 %

EPS Basic

DPS All

Sales/Revenue

Book Value Per Share

Net Operating Cash Flow

Net Profit Margin

Title 202020212022202320242025
Return on Capital Employed xxxxxxxxxxxxxxx20.36 %
Return on Invested Capital xxxxxxxxxxxxxxx14.55 %
Return on Assets xxxxxxxxxxxxxxx10.04 %
Return on Equity xxxxxxxxxxxxxxx20.36 %
Return on Total Capital xxxxxxxxxxxxxxx22.36 %
Free Cash Flow ex dividends xxxxxxxxxxxxxxx997.8 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 202020212022202320242025
Short-Term Debt xxxxxxxxxxxxxxx29 M
Long Term Debt xxxxxxxxxxxxxxx1,739 M
Total Debt xxxxxxxxxxxxxxx1,768 M
Goodwill - Gross xxxxxxxxxxxxxxx-
Cash & Equivalents - Generic xxxxxxxxxxxxxxx760 M
Price To Book Value xxxxxxxxxxxxxxx3.15

Short-Term Debt

Long Term Debt

Total Debt

Goodwill - Gross

Cash & Equivalents - Generic

Price To Book Value

Title 202020212022202320242025
Capex xxxxxxxxxxxxxxx1,176.4 M
Capex % of Sales xxxxxxxxxxxxxxx27.03 %
Cost of Goods Sold xxxxxxxxxxxxxxx2,812 M
Selling, General & Admin. Exp & Other xxxxxxxxxxxxxxx98 M
Research & Development xxxxxxxxxxxxxxx-
Investments - Total xxxxxxxxxxxxxxx148 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

-0.3

No. Of Recommendations

6
BROKER DATE RATING RECOMMENDATION TARGET PRICE % TO REACH TARGET COMMENTARY

Ord Minnett

xx/xx/xxxx

3

xxxx

$xx.xx

xx.xx%

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Bell Potter

xx/xx/xxxx

1

xxx

$xx.xx

xx.xx%

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Morgans

xx/xx/xxxx

4

xxxx

$xx.xx

xx.xx%

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Macquarie

22/01/2026

5

Underperform

$10.20

-30.89%

Macquarie notes Evolution Mining's 2Q26 production and AISC (cost) beat consensus, driven by stronger by-product credits. Production came in at 191.2koz, ahead of the broker's forecast by 2% and 3% higher than consensus.

The company cut FY26 AISC guidance by -6% on by-product credits and cost management. FY26 EPS forecast was lifted by 6% on higher production and lower costs.

Targer rises to $10.20 from $10.10, but Underperform maintained on valuation grounds.

FORECAST
Macquarie forecasts a full year FY26 dividend of 33.00 cents and EPS of 75.70 cents.
Macquarie forecasts a full year FY27 dividend of 37.00 cents and EPS of 78.50 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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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

Canaccord Genuity

xx/xx/xxxx

3

xxxx

$xx.xx

xx.xx%

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Jarden

10/01/2026

4

Underweight

$7.10

-51.90%

Jarden marked to market commodity prices for the December quarter and lifted the near-term gold price forecast. 1H2026 price estimate raised to US$4,200/oz, with a taper to a long-term forecast of US$2,400/oz by FY31.

Acknowledging tighter copper markets and a concentrate-smelting imbalance, the broker also lifted the copper price forecast to US$5.45/lb in 1H2026, US$5.50/lb in FY27-29, and the long-term price to US$5.00/lb.

At the December quarterly, the broker expects Evolution Mining to report production of 188koz, in line with the consensus. 

Underweight rating. Target rises to $7.10 from $6.70. The key upside risk to the broker's view is a continued strong gold price.

FORECAST
Jarden forecasts a full year FY26 dividend of 41.00 cents and EPS of 82.00 cents.
Jarden forecasts a full year FY27 dividend of 36.00 cents and EPS of 73.00 cents.
Access Extra Coverage Research History >

EVN STOCK CHART

FNArena News on EVN

1
Australian Broker Call *Extra* Edition – Jan 28, 2026

11:00 AM - Daily Market Reports
2
Australian Broker Call *Extra* Edition – Jan 21, 2026

Jan 21 2026 - Daily Market Reports
3
Australian Broker Call *Extra* Edition – Jan 15, 2026

Jan 15 2026 - Daily Market Reports
4
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Dec 18 2025 - Rudi's View

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