PDI GOLD LIMITED (PDI)
Share Price Analysis and Chart

05/11/2026

1

Buy

$6.25

31.03%

Ord Minnett raises its target for PDI Gold to $6.25 from $6.20, upgrading FY26 and FY27 earnings forecasts by 1.2% and 10.4%, respectively.

The broker notes September-quarter gold pours fell -17% to 52,865oz, although full-year guidance remains achievable.

Commentary notes Kiniero continues to outperform, with mill throughput around 9Mtpa against 5Mtpa nameplate capacity, while Nampala production remains disappointing.

Approval for Bankan's mining licence, potentially within six months, is seen as a key catalyst for planned first production in September-quarter 2028.

Ord Minnett retains a Buy rating and target of $6.25, up from $6.20.

FORECAST
Ord Minnett forecasts a full year FY27 EPS of 0.25 cents.
Ord Minnett forecasts a full year FY28 EPS of 0.43 cents.

03/11/2026

1

Speculative Buy

$7.45

56.18%

Canaccord Genuity maintains a Speculative Buy rating for PDI Gold with its target price increased to $7.45 from $7.40 following the release of its September quarter report detailing operational performance across its West African gold assets.

Kiniero gold production of 46koz met the broker's expectations as strong milling throughput offset weather-related mining slowdowns, while Nampala missed forecasts with 7.3koz produced at an AISC of US$2,914/oz due to pit cutback disruptions.

Bankan development progressed with US$18m in downpayments committed for key processing equipment, while group cash and bullion closed at US$405m against US$130m in outstanding debt.

The analyst extends Nampala's projected mine life through September 2028 following an updated Ore Reserve inventory while adjusting forecasts for gold price participation costs under the Sprott facility.

FORECAST
Canaccord Genuity forecasts a full year FY27 dividend of 0.00 cents and EPS of 55.00 cents.
Canaccord Genuity forecasts a full year FY28 dividend of 0.00 cents and EPS of 119.00 cents.