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

$3.09

14 Apr
2025

0.040

OPEN

$3.08

1.31%

HIGH

$3.09

9,359,682

LOW

$3.03

TARGET
$3.083 -0.2% downside
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 25.1 xxx
DPS (cps) xxx 2.0 3.5 xxx
EPS Growth xxx 22.8% 90.3% xxx
DPS Growth xxx - 9.1% 73.3% xxx
PE Ratio xxx N/A 12.4 xxx
Dividend Yield xxx N/A 1.1% xxx
Div Pay Ratio(%) xxx 15.2% 13.8% xxx

Dividend yield today if purchased 3 years ago: 1.18%

DIVIDEND YIELD CALCULATOR

Dividend Yield Today On Last Actual Payout :

 0.64

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

UBS

xx/xx/xxxx

1

xxx

$xx.xx

xx.xx%

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Bell Potter

xx/xx/xxxx

1

xxx

$xx.xx

xx.xx%

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Macquarie

19/03/2025

-1

No Rating

-

Gold Road Resources announced a preliminary update on 1Q 2025 production, guiding to 70-73koz, which is below Macquarie's estimate and consensus by -18% and -16%, respectively. No cost update was provided.

Maintenance issues with the primary crusher and the failure of two conveyor belts were cited as the main reasons for the production miss, the broker highlights.

Management has retained 2025 guidance, with the analyst stressing that a robust 2Q-4Q production performance will be needed to achieve the current midpoint of guidance.

Macquarie lowers the midpoint forecast for 2025 production by -4% to 325koz and lowers EPS estimates by -18% for 2025.

The broker remains on research restriction

FORECAST
Macquarie forecasts a full year FY25 dividend of 4.90 cents and EPS of 20.10 cents.
Macquarie forecasts a full year FY26 dividend of 3.90 cents and EPS of 19.10 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

Moelis

xx/xx/xxxx

3

xxxx

$xx.xx

xx.xx%

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Canaccord Genuity

13/04/2025

1

Buy

$3.35

8.41%

Canaccord Genuity revised forecasts for precious metals prices, and provided estimates for production and costs ahead of the March quarter update.

The broker lifted gold price forecasts in USD for the March quarter by 7.7% and around 10-12% each year until 2028, with the long-term price raised by 11.5%.

The AUD/USD forecasts were lowered until 2027, and left unchanged after that. This resulted in a bigger lift in gold price in AUD terms until 2027, with the forecasts thereafter in line with increases in USD price.

Silver prices were raised for the March quarter in USD terms but lowered for the rest of the forecast period, resulting in an increase in AUD terms until 2026, but lower from 2028.

For Gold Road Resources, the broker is forecasting a March quarter production of 35koz vs a consensus of 38. The forecast for costs is $2,593/oz vs consensus of $2,599/oz.

Buy. Target price rises to $3.35 from $2.75.

FORECAST
Canaccord Genuity forecasts a full year FY25 dividend of 2.00 cents and EPS of 22.00 cents.
Canaccord Genuity forecasts a full year FY26 dividend of 4.00 cents and EPS of 24.00 cents.

Goldman Sachs

xx/xx/xxxx

1

xxx

$xx.xx

xx.xx%

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Access Extra Coverage Research History >

GOR STOCK CHART

FNArena News on GOR

1
Australian Broker Call *Extra* Edition – Apr 14, 2025

Apr 14 2025 - Daily Market Reports
2
Australian Broker Call *Extra* Edition – Apr 10, 2025

Apr 10 2025 - Daily Market Reports
3
Favourite ASX-Gold Exposures

Apr 09 2025 - Commodities
4
Australian Broker Call *Extra* Edition – Mar 31, 2025

Mar 31 2025 - Daily Market Reports
5
Next Week At A Glance – 31 Mar – 4 April, 2025

Mar 28 2025 - Weekly Reports

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