ORA BANDA MINING LIMITED (OBM)
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OBM

OBM - ORA BANDA MINING LIMITED

FNArena Sector : Gold & Silver
Year End: June
GICS Industry Group : Materials
Debt/EBITDA: 0.07
Index: ASX200 | ASX300 | ALL-ORDS

Ora Banda Mining is a Western Australian gold producer operating mines and processing infrastructure at the Davyhurst Gold Project.

LAST PRICE CHANGE +/- CHANGE % VOLUME

$1.45

01 Oct
2026

-0.040

OPEN

$1.47

-2.68%

HIGH

$1.49

4,420,849

LOW

$1.43

TARGET
$1.883 29.9% upside
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FNARENA'S MARKET CONSENSUS FORECASTS
OBM: 1
Title FY25
Actual		 FY26
Actual		 FY27
Forecast		 FY28
Forecast
EPS (cps) xxx 10.9 7.7 xxx
DPS (cps) xxx 0.0 0.0 xxx
EPS Growth xxx 6.8% - 29.3% xxx
DPS Growth xxx N/A N/A xxx
PE Ratio xxx N/A 19.2 xxx
Dividend Yield xxx N/A 0.0% xxx
Div Pay Ratio(%) xxx N/A N/A xxx

Dividend yield today if purchased 3 years ago: 0.00%

DIVIDEND YIELD CALCULATOR

Dividend Yield Today On Last Actual Payout :

 0.00

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
HISTORICAL DATA ARE ALL IN AUD
Copyright © 2026 FactSet UK Limited. All rights reserved
Title 202120222023202420252026
EPS Basic xxxxxxxxxxxxxxx10.9
DPS All xxxxxxxxxxxxxxx0.0
Sales/Revenue xxxxxxxxxxxxxxx826.1 M
Book Value Per Share xxxxxxxxxxxxxxx27.9
Net Operating Cash Flow xxxxxxxxxxxxxxx426.7 M
Net Profit Margin xxxxxxxxxxxxxxx26.17 %

EPS Basic

DPS All

Sales/Revenue

Book Value Per Share

Net Operating Cash Flow

Net Profit Margin

Title 202120222023202420252026
Return on Capital Employed xxxxxxxxxxxxxxx52.51 %
Return on Invested Capital xxxxxxxxxxxxxxx51.57 %
Return on Assets xxxxxxxxxxxxxxx32.65 %
Return on Equity xxxxxxxxxxxxxxx52.51 %
Return on Total Capital xxxxxxxxxxxxxxx74.42 %
Free Cash Flow ex dividends xxxxxxxxxxxxxxx212.9 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 xxxxxxxxxxxxxxx29 M
Long Term Debt xxxxxxxxxxxxxxx3 M
Total Debt xxxxxxxxxxxxxxx32 M
Goodwill - Gross xxxxxxxxxxxxxxx-
Cash & Equivalents - Generic xxxxxxxxxxxxxxx268 M
Price To Book Value xxxxxxxxxxxxxxx3.79

Short-Term Debt

Long Term Debt

Total Debt

Goodwill - Gross

Cash & Equivalents - Generic

Price To Book Value

Title 202120222023202420252026
Capex xxxxxxxxxxxxxxx213.8 M
Capex % of Sales xxxxxxxxxxxxxxx25.88 %
Cost of Goods Sold xxxxxxxxxxxxxxx461 M
Selling, General & Admin. Exp & Other xxxxxxxxxxxxxxx32 M
Research & Development xxxxxxxxxxxxxxx-
Investments - Total xxxxxxxxxxxxxxx43 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

Macquarie

xx/xx/xxxx

3

xxxxxxx

$xx.xx

xx.xx%

Broker commentary and detailed analysis is available for Full Members Only.
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Ord Minnett

29/09/2026

1

Buy

$2.20

51.72%

Ord Minnett makes mostly minor changes to commodity price forecasts following a September quarter characterised by stronger energy, coal, precious and most base metal prices, while lithium fell -20%.

The broker remains positive on lithium longer term, lifting CY27 and CY28 price forecasts by 2% and 5%, respectively, supported by electric vehicles, energy storage and renewables demand.

Copper's recent rally is considered vulnerable to reversal, prompting a -6% CY27 price forecast cut, though longer-term fundamentals remain supportive. Aluminium price forecasts are also lowered.

Ord Minnett currently sees more attractive risk-reward across bulk commodities than base metals, particularly iron ore.

For gold stocks under coverage, the broker prefers Buy-rated Capricorn Metals for its asset quality, production growth outlook and valuation.

Unchanged Buy rating and $2.20 target for Ora Banda Mining.

This is a summary of research released by Ord Minnett yesterday.

FORECAST
Ord Minnett forecasts a full year FY27 EPS of 7.00 cents.
Ord Minnett forecasts a full year FY28 EPS of 10.00 cents.

UBS

xx/xx/xxxx

1

xxxxxxx xx xxx xxxx 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

Moelis

xx/xx/xxxx

3

xxxx

$xx.xx

xx.xx%

Broker commentary and detailed analysis is available for Full Members Only.
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Canaccord Genuity

01/09/2026

1

Buy

$1.85

27.59%

Canaccord Genuity maintains a Buy rating for Ora Banda Mining with its target price increased to $1.85 from $1.65 following an FY26 result featuring EBITDA of $431m and free cash flow of $214m.

The company finished the period with $268m in cash and nil debt, alongside maintaining FY27 production guidance of 125,000 to 140,000 ounces at an all-in sustaining cost between $3,400 and $3,600 per ounce.

Growth capital expenditure guidance remains unchanged at -$350m, providing funding for a new processing facility and the development of the Waihi underground operation.

The analyst updates financial models to reflect a higher proportion of capitalised exploration spend, lifting FY27 to FY29 EBITDA estimates by an average of 10%.
Access Extra Coverage Research History >

OBM STOCK CHART

FNArena News on OBM

1
Australian Broker Call *Extra* Edition – Sep 14, 2026

Sep 14 2026 - Daily Market Reports
2
Weekly Ratings, Targets, Forecast Changes – 11-09-26

Sep 14 2026 - Weekly Reports
3
Australian Broker Call *Extra* Edition – Sep 01, 2026

Sep 01 2026 - Daily Market Reports
4
Weekly Ratings, Targets, Forecast Changes – 28-08-26

Aug 31 2026 - Weekly Reports
5
In Case You Missed It – BC Extra Upgrades & Downgrades – 28-08-26

Aug 28 2026 - Weekly Reports

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