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: 0.22
Index: ASX200 | ASX300 | ALL-ORDS

LAST PRICE CHANGE +/- CHANGE % VOLUME

$1.14

25 Mar
2026

0.090

OPEN

$1.09

8.57%

HIGH

$1.15

12,897,340

LOW

$1.07

TARGET
$1.767 55.0% upside
OTHER COMPANIES IN THE SAME SECTOR
A1M . AAM . AAR . ALK . AMI . ASL . AUC . AUE . AWJ . BC8 . BEZ . BGL . BNZ . BTR . CEL . CMM . CNB . CVV . CY5 . CYL . DPM . EMR . EVN . EVR . FFM . FFM . FXG . GG8 . GGP . GHM . GMD . GPR . HGO . HRZ . IGO . KAI . KCN . KGL . MAT . MAU . MEI . MEK . MM8 . MML . NEM . NMG . NST . NVA . ORE . PDI . PNR . PRU . RMS . RRL . RSG . RXL . RXR . SBM . SMI . SS1 . STM . STN . SVL . TBR . TCG . TOR . TRE . TTM . USL . VAU . WAF . WGX . WIA . WMX .
FNARENA'S MARKET CONSENSUS FORECASTS
OBM: 1
Title FY24
Actual		 FY25
Actual		 FY26
Forecast		 FY27
Forecast
EPS (cps) xxx 10.2 13.4 xxx
DPS (cps) xxx 0.0 0.0 xxx
EPS Growth xxx 100.0% 30.9% xxx
DPS Growth xxx N/A N/A xxx
PE Ratio xxx N/A 8.5 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 202020212022202320242025
EPS Basic xxxxxxxxxxxxxxx10.2
DPS All xxxxxxxxxxxxxxx0.0
Sales/Revenue xxxxxxxxxxxxxxx404.3 M
Book Value Per Share xxxxxxxxxxxxxxx15.2
Net Operating Cash Flow xxxxxxxxxxxxxxx190.5 M
Net Profit Margin xxxxxxxxxxxxxxx46.03 %

EPS Basic

DPS All

Sales/Revenue

Book Value Per Share

Net Operating Cash Flow

Net Profit Margin

Title 202020212022202320242025
Return on Capital Employed xxxxxxxxxxxxxxx97.13 %
Return on Invested Capital xxxxxxxxxxxxxxx91.11 %
Return on Assets xxxxxxxxxxxxxxx58.13 %
Return on Equity xxxxxxxxxxxxxxx97.13 %
Return on Total Capital xxxxxxxxxxxxxxx50.47 %
Free Cash Flow ex dividends xxxxxxxxxxxxxxx76.5 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 202020212022202320242025
Short-Term Debt xxxxxxxxxxxxxxx28 M
Long Term Debt xxxxxxxxxxxxxxx12 M
Total Debt xxxxxxxxxxxxxxx40 M
Goodwill - Gross xxxxxxxxxxxxxxx-
Cash & Equivalents - Generic xxxxxxxxxxxxxxx84 M
Price To Book Value xxxxxxxxxxxxxxx5.03

Short-Term Debt

Long Term Debt

Total Debt

Goodwill - Gross

Cash & Equivalents - Generic

Price To Book Value

Title 202020212022202320242025
Capex xxxxxxxxxxxxxxx114.0 M
Capex % of Sales xxxxxxxxxxxxxxx28.20 %
Cost of Goods Sold xxxxxxxxxxxxxxx264 M
Selling, General & Admin. Exp & Other xxxxxxxxxxxxxxx25 M
Research & Development xxxxxxxxxxxxxxx-
Investments - Total xxxxxxxxxxxxxxx0 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

1.0

No. Of Recommendations

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

UBS

xx/xx/xxxx

1

xxxxxxxxxx xx xxxxxxxx xxxx xxx

$xx.xx

xx.xx%

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Macquarie

12/03/2026

1

Outperform

$1.70

49.12%

Post the significant rise in the Davyhurst mineral resource estimate to 50.3mt at 2.0g/t for 3.3moz, a rise of 57%, Macquarie lifts its outlook for Ora Banda Mining.

The analyst assumes a 3mtpa processing plant as a base case, ramping up from 3Q28 onwards versus the previous forecast of a circa 1.7mtpa run rate.

Target price is raised 13% to $1.70 with an Outperform rating retained. No change to FY26 EPS forecast, with FY27 lowered by -12% due to slightly lower production and capex for the new Davyhurst mill.

FORECAST
Macquarie forecasts a full year FY26 dividend of 0.00 cents and EPS of 10.70 cents.
Macquarie forecasts a full year FY27 dividend of 0.00 cents and EPS of 10.80 cents.

Ord Minnett

xx/xx/xxxx

1

xxxxxxx xx xxx xxxx xxxx

$xx.xx

(xx/xx/xxxx)

xx.xx%

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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

1

xxx

$xx.xx

xx.xx%

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Canaccord Genuity

10/03/2026

1

Buy

$1.60

40.35%

Canaccord Genuity highlights the fact Ora Banda Mining finished the first half with cash of $155m and no debt, with liquidity of $205m. EBITDA of $173m exceeded the broker's estimates.

Production guidance of 140-150,000 ounces at AISC of $3250-3350/oz for FY26 has been retained. Buy rating and $1.60 target unchanged.
Access Extra Coverage Research History >

OBM STOCK CHART

FNArena News on OBM

1
Gold’s Outlook No Longer Straightforward

Mar 19 2026 - Commodities
2
Australian Broker Call *Extra* Edition – Mar 16, 2026

Mar 16 2026 - Daily Market Reports
3
Australian Broker Call *Extra* Edition – Mar 10, 2026

Mar 10 2026 - Daily Market Reports
4
Australian Broker Call *Extra* Edition – Mar 09, 2026

Mar 09 2026 - Daily Market Reports
5
FNArena Corporate Results Monitor – 02-03-2026

Mar 02 2026 - Australia

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