EVOLUTION MINING LIMITED (EVN)
Share Price Analysis and Chart

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EVN

EVN - EVOLUTION MINING LIMITED

FNArena Sector : Gold & Silver
Year End: June
GICS Industry Group : Materials
Debt/EBITDA: 0.45
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

$11.84

22 Oct
2026

-0.290

OPEN

$12.13

-2.39%

HIGH

$12.21

5,602,046

LOW

$11.81

TARGET
$14.275 20.6% upside
Franking for last dividend paid out: 100%
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FNARENA'S MARKET CONSENSUS FORECASTS
EVN: 1
Title FY25
Actual		 FY26
Actual		 FY27
Forecast		 FY28
Forecast
EPS (cps) xxx 72.8 90.0 xxx
DPS (cps) xxx 41.0 41.2 xxx
EPS Growth xxx 56.6% 23.6% xxx
DPS Growth xxx 100.0% 0.4% xxx
PE Ratio xxx N/A 12.6 xxx
Dividend Yield xxx N/A 3.6% xxx
Div Pay Ratio(%) xxx 56.3% 45.7% xxx

Dividend yield today if purchased 3 years ago: 11.11%

DIVIDEND YIELD CALCULATOR

Dividend Yield Today On Last Actual Payout :

 3.63

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: 09/09 - ex-div 21.00c (franking 100%)

HISTORICAL DATA ARE ALL IN AUD
Copyright © 2026 FactSet UK Limited. All rights reserved
Title 202120222023202420252026
EPS Basic xxxxxxxxxxxxxxx72.8
DPS All xxxxxxxxxxxxxxx41.0
Sales/Revenue xxxxxxxxxxxxxxx5,558.8 M
Book Value Per Share xxxxxxxxxxxxxxx287.0
Net Operating Cash Flow xxxxxxxxxxxxxxx2,636.6 M
Net Profit Margin xxxxxxxxxxxxxxx26.54 %

EPS Basic

DPS All

Sales/Revenue

Book Value Per Share

Net Operating Cash Flow

Net Profit Margin

Title 202120222023202420252026
Return on Capital Employed xxxxxxxxxxxxxxx27.35 %
Return on Invested Capital xxxxxxxxxxxxxxx21.18 %
Return on Assets xxxxxxxxxxxxxxx14.62 %
Return on Equity xxxxxxxxxxxxxxx27.35 %
Return on Total Capital xxxxxxxxxxxxxxx33.79 %
Free Cash Flow ex dividends xxxxxxxxxxxxxxx916.7 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 202120222023202420252026
Short-Term Debt xxxxxxxxxxxxxxx16 M
Long Term Debt xxxxxxxxxxxxxxx1,401 M
Total Debt xxxxxxxxxxxxxxx1,416 M
Goodwill - Gross xxxxxxxxxxxxxxx-
Cash & Equivalents - Generic xxxxxxxxxxxxxxx1,347 M
Price To Book Value xxxxxxxxxxxxxxx4.09

Short-Term Debt

Long Term Debt

Total Debt

Goodwill - Gross

Cash & Equivalents - Generic

Price To Book Value

Title 202120222023202420252026
Capex xxxxxxxxxxxxxxx1,204.5 M
Capex % of Sales xxxxxxxxxxxxxxx21.67 %
Cost of Goods Sold xxxxxxxxxxxxxxx3,068 M
Selling, General & Admin. Exp & Other xxxxxxxxxxxxxxx131 M
Research & Development xxxxxxxxxxxxxxx-
Investments - Total xxxxxxxxxxxxxxx127 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

Morgans

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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Macquarie

xx/xx/xxxx

3

xxxxxxx

$xx.xx

xx.xx%

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Citi

15/10/2026

3

Neutral, High Risk

$13.80

16.55%

Citi lowers its target for Evolution Mining by -70c to $13.80 following yesterday's quarterly production update. Neutral, High Risk rating retained.

Initial View: Earlier today, Evolution Mining released its quarterly production report and, judging from Citi's early assessment, the numbers have disappointed by circa -5%.

Commentary blames grades, as tonnes processed were flat while gold grade fell to 0.91g/t, down from 1.05g/t in the June quarter.

On the positive side, both copper volumes and AISC (costs) surprised positively (by double digits).

Management has officially retained its guidance for FY27 but the analysts report there were multiple suggestions during the subsequent conference call that this year's gold guidance looks like a stretch.

Citi thinks only a slight negative response is to be expected and the shares are currently down by circa -4.7%.

UBS

xx/xx/xxxx

1

xxx

$xx.xx

xx.xx%

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Ord Minnett

xx/xx/xxxx

2

xxxxxxxxxx

$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

24/08/2026

3

Hold

$12.65

6.84%

Canaccord Genuity maintains its Hold recommendation for Evolution Mining with its target price increased to $12.65 from $12.25 following FY26 results where underlying EBITDA reached $3,171m with a 57% margin and underlying net profit after tax rose to $1,563m, both in line with consensus expectations.

Evolution declared a final fully franked dividend of 21c per share and updated its capital policy to target approximately 60% of group cash flow.

FY27 group production and all-in sustaining cost guidance were reported broadly in line with expectations, though group production is weighted towards the second half due to the Cowal underground ramp-up and new mining areas at Red Lake.

The broker's estimates incorporate the latest results, a revised FY27 group production forecast of 699koz gold and 67kt copper, and higher growth capital expenditure forecasts reflecting the top end of guidance.

The analyst highlights that unhedged exposure to spot commodity prices and strong cash flow generation support the higher target price, though valuation remains balanced at current trading levels.
Access Extra Coverage Research History >

EVN STOCK CHART

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2
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