GOLD ROAD RESOURCES LIMITED (GOR)
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GOR

GOR - GOLD ROAD RESOURCES LIMITED

FNArena Sector : Gold & Silver
Year End: December
GICS Industry Group : Materials
Debt/EBITDA: 0.4
Index: ASX200 | ASX300 | ALL-ORDS

Gold Road is an Australian gold producer and explorer with interests in the Yamarna Greenstone Belt in Western Australia. It listed in 2006 under the name Eleckra Mines and changed name in 2010.

LAST PRICE CHANGE +/- CHANGE % VOLUME

$2.38

21 Mar
2025

-0.080

OPEN

$2.44

-3.25%

HIGH

$2.47

14,493,194

LOW

$2.38

TARGET
$2.85 19.7% upside
Franking for last dividend paid out: 100%
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FNARENA'S MARKET CONSENSUS FORECASTS
GOR: 1
Title FY23
Actual		 FY24
Actual		 FY25
Forecast		 FY26
Forecast
EPS (cps) xxx 13.2 23.7 xxx
DPS (cps) xxx 2.0 3.6 xxx
EPS Growth xxx 22.8% 80.0% xxx
DPS Growth xxx - 9.1% 80.0% xxx
PE Ratio xxx N/A 10.0 xxx
Dividend Yield xxx N/A 1.5% xxx
Div Pay Ratio(%) xxx 15.2% 15.2% xxx

Dividend yield today if purchased 3 years ago: 1.22%

DIVIDEND YIELD CALCULATOR

Dividend Yield Today On Last Actual Payout :

 0.84

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: 29/02 - ex-div 1c (franking 100%)

HISTORICAL DATA ARE ALL IN AUD
Copyright © 2025 FactSet UK Limited. All rights reserved
Title 201920202021202220232024
EPS Basic xxxxxxxxxxxxxxx13.2
DPS All xxxxxxxxxxxxxxx2.0
Sales/Revenue xxxxxxxxxxxxxxx528.5 M
Book Value Per Share xxxxxxxxxxxxxxx113.3
Net Operating Cash Flow xxxxxxxxxxxxxxx250.6 M
Net Profit Margin xxxxxxxxxxxxxxx27.00 %

EPS Basic

DPS All

Sales/Revenue

Book Value Per Share

Net Operating Cash Flow

Net Profit Margin

Title 201920202021202220232024
Return on Capital Employed xxxxxxxxxxxxxxx13.15 %
Return on Invested Capital xxxxxxxxxxxxxxx11.94 %
Return on Assets xxxxxxxxxxxxxxx10.51 %
Return on Equity xxxxxxxxxxxxxxx13.15 %
Return on Total Capital xxxxxxxxxxxxxxx17.56 %
Free Cash Flow ex dividends xxxxxxxxxxxxxxx106.5 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 xxxxxxxxxxxxxxx14 M
Long Term Debt xxxxxxxxxxxxxxx106 M
Total Debt xxxxxxxxxxxxxxx119 M
Goodwill - Gross xxxxxxxxxxxxxxx-
Cash & Equivalents - Generic xxxxxxxxxxxxxxx166 M
Price To Book Value xxxxxxxxxxxxxxx1.81

Short-Term Debt

Long Term Debt

Total Debt

Goodwill - Gross

Cash & Equivalents - Generic

Price To Book Value

Title 201920202021202220232024
Capex xxxxxxxxxxxxxxx141.7 M
Capex % of Sales xxxxxxxxxxxxxxx26.82 %
Cost of Goods Sold xxxxxxxxxxxxxxx304 M
Selling, General & Admin. Exp & Other xxxxxxxxxxxxxxx12 M
Research & Development xxxxxxxxxxxxxxx-
Investments - Total xxxxxxxxxxxxxxx742 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

0.7

No. Of Recommendations

3
BROKER DATE RATING RECOMMENDATION TARGET PRICE % TO REACH TARGET COMMENTARY

Bell Potter

xx/xx/xxxx

1

xxx

$xx.xx

xx.xx%

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Macquarie

xx/xx/xxxx

-1

xx xxxxxx

xx.xx%

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UBS

24/02/2025

1

Buy

$3.10

30.25%

UBS analysts have maintained a Buy rating on Gold Road Resources, alongside a price target of $3.10. Financial forecasts remain steady, with guidance for Gruyere production of 325-355koz in 2025 at an AISC of $2,400-2,600/oz.

The company reported FY24 EBITDA of $294m and NPAT of $143m, slightly below expectations due to higher exploration expenses and depreciation.

As per the broker's commentary, management highlighted a strong growth outlook, with production expected to increase by 20% over the next three years.

The broker sees potential for increased shareholder returns if the company divests its De Grey Mining ((DEG)) stake following Northern Star’s ((NST)) takeover offer.

FORECAST
UBS forecasts a full year FY25 dividend of 4.00 cents and EPS of 26.00 cents.
UBS forecasts a full year FY26 dividend of 5.00 cents and EPS of 27.00 cents.

Ord Minnett

xx/xx/xxxx

3

xxxxxxxxx xx xxxx xxxx xxx

$xx.xx

xx.xx%

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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

1

xxx

$xx.xx

xx.xx%

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Goldman Sachs

27/02/2025

1

Buy

$2.80

17.65%

Gold Road Resources reported 2024 earnings that were largely in line with Goldman Sachs estimates.

The cash position increased at the end of the year to $166m, with an additional $8m in gold ore and bullion held in inventory, supported by a commitment to an unhedged strategy.

2025 guidance is unchanged at 325-355,000 ounces at AISC of $2400-2600/oz.

Goldman Sachs increases its target to $2.80 from $2.75 and retains a Buy rating, asserting the stock is the only gold producer in its coverage with strong "capital expenditure-light" free cash flow and no major growth expenditure.

FORECAST
Goldman Sachs forecasts a full year FY25 dividend of 4.00 cents and EPS of 26.00 cents.
Goldman Sachs forecasts a full year FY26 dividend of 9.00 cents and EPS of 29.00 cents.

Moelis

xx/xx/xxxx

3

xxxx

$xx.xx

xx.xx%

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Access Extra Coverage Research History >

GOR STOCK CHART

FNArena News on GOR

1
Weekly Ratings, Targets, Forecast Changes – 28-02-25

Mar 03 2025 - Weekly Reports
2
Australian Broker Call *Extra* Edition – Feb 27, 2025

Feb 27 2025 - Daily Market Reports
3
FNArena Corporate Results Monitor – 24-02-2025

Feb 24 2025 - Australia
4
Australian Broker Call *Extra* Edition – Feb 24, 2025

Feb 24 2025 - Daily Market Reports
5
Weekly Ratings, Targets, Forecast Changes – 21-02-25

Feb 24 2025 - Weekly Reports

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