KANTRA COPPER LIMITED (HGO)
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24/08/2026

1

Buy

$1.42

31.48%

Moelis maintains its Buy recommendation for Kantra Copper with its target price unchanged at $1.42 following a first-half FY26 earnings beat driven by lower direct operating costs and royalties alongside zero tax recognition on the profit and loss statement.

Reported EBITDA reached $35.0m compared to previous estimates of $29.0m, representing a roughly 140% increase on the prior period driven by volume growth as more stoping areas became available and Nugent was fully commissioned.

The Kanmantoo plant reached a 1.8mtpa run rate in June, positioning the business to capitalise on a favourable copper price environment.

The broker's estimates incorporate adjustments for a 15-to-1 share consolidation approved by shareholders on 17 August 2026, alongside upcoming corporate name changes to Kantra Copper Limited and ASX ticker KAN in early September.

The analyst highlights that the strong balance sheet position with $32.5m in cash and no debt provides robust coverage moving into the second half.

FORECAST
Moelis forecasts a full year FY27 dividend of 0.00 cents and EPS of 20.70 cents.