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

$11.06

30 Jul
2026

-0.350

OPEN

$11.49

-3.07%

HIGH

$11.51

5,857,862

LOW

$11.06

TARGET
$13.50 22.1% upside
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 81.9 xxx
DPS (cps) xxx 20.0 40.8 xxx
EPS Growth xxx 100.0% 76.1% xxx
DPS Growth xxx 100.0% 100.0% xxx
PE Ratio xxx N/A 13.8 xxx
Dividend Yield xxx N/A 3.6% xxx
Div Pay Ratio(%) xxx 43.0% 49.8% xxx

Dividend yield today if purchased 3 years ago: 5.41%

DIVIDEND YIELD CALCULATOR

Dividend Yield Today On Last Actual Payout :

 1.77

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: 03/03 - ex-div 20.00c (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

0.4

No. Of Recommendations

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

Citi

xx/xx/xxxx

3

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$xx.xx

xx.xx%

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xx/xx/xxxx

3

xxxxxxx

$xx.xx

xx.xx%

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Ord Minnett

xx/xx/xxxx

2

xxxxxxxxxx

$xx.xx

xx.xx%

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Bell Potter

16/07/2026

1

Buy

$15.10

36.53%

Bell Potter considers Evolution Mining announced a "solid" June quarter update which came in as the second best quarter of FY26.

Copper and gold production missed expectations but positively Ernest Henry returned to full production and had its best quarterly performance, the analyst highlights.

AISC declined this quarter, and the gold producer met its guidance range of 710koz-780koz at 714koz of gold and AISC of $1,717/oz.

Commentary suggests FY27 guidance offered insights into steady production, with higher sustaining capex and AISC outlook.

EPS forecasts are trimmed by -6% for FY26 and -15% for FY27. No change to Buy rating. Target price is lowered to $15.10 from $16.45.

FORECAST
Bell Potter forecasts a full year FY26 dividend of 45.00 cents and EPS of 90.80 cents.
Bell Potter forecasts a full year FY27 dividend of 50.00 cents and EPS of 131.50 cents.

Morgans

xx/xx/xxxx

1

xxx

$xx.xx

xx.xx%

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Macquarie

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

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

20/07/2026

4

Underweight

$8.20

-25.86%

Jarden maintains an Underweight rating for Evolution Mining with its target price lowered to $8.20 from $8.40 following a weak June quarter finish to FY26.

Group production closed out the period at 180koz alongside copper output of 19kt, while all-in sustaining costs reached $1,706/oz.

The analyst highlights management is signaling material cost inflation for FY27 driven by higher sustaining capital, mine development expenditures, and organic growth spend.

Forecasted total capital expenditures are modeled at $1,350m with all-in sustaining costs of $1,907/oz, while total production is projected to decline -3% to 697koz.

The broker reduces EBITDA projections by up to -2% across FY26 to FY28, noting the asset portfolio remains capital-intensive and valuation multiples are the most expensive under coverage.
Access Extra Coverage Research History >

EVN STOCK CHART

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