PANTORO GOLD LIMITED (PNR)
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PNR

PNR - PANTORO GOLD LIMITED

FNArena Sector : Gold & Silver
Year End: June
GICS Industry Group : Materials
Debt/EBITDA: 2.46
Index: ASX300 | ALL-ORDS

LAST PRICE CHANGE +/- CHANGE % VOLUME

$2.79

05 May
2025

-0.050

OPEN

$2.85

-1.76%

HIGH

$2.86

466,128

LOW

$2.77

TARGET
$2.675 -4.1% downside
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FNARENA'S MARKET CONSENSUS FORECASTS
PNR: 1
Title FY23
Actual		 FY24
Actual		 FY25
Forecast		 FY26
Forecast
EPS (cps) xxx - 15.9 3.4 xxx
DPS (cps) xxx 0.0 0.0 xxx
EPS Growth xxx N/A N/A xxx
DPS Growth xxx N/A N/A xxx
PE Ratio xxx N/A 91.8 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 © 2025 FactSet UK Limited. All rights reserved
Title 201920202021202220232024
EPS Basic xxxxxxxxxxxxxxx-15.9
DPS All xxxxxxxxxxxxxxx0.0
Sales/Revenue xxxxxxxxxxxxxxx229.4 M
Book Value Per Share xxxxxxxxxxxxxxx108.9
Net Operating Cash Flow xxxxxxxxxxxxxxx-0.6 M
Net Profit Margin xxxxxxxxxxxxxxx-21.49 %

EPS Basic

DPS All

Sales/Revenue

Book Value Per Share

Net Operating Cash Flow

Net Profit Margin

Title 201920202021202220232024
Return on Capital Employed xxxxxxxxxxxxxxx-13.12 %
Return on Invested Capital xxxxxxxxxxxxxxx-12.26 %
Return on Assets xxxxxxxxxxxxxxx-9.17 %
Return on Equity xxxxxxxxxxxxxxx-13.12 %
Return on Total Capital xxxxxxxxxxxxxxx-13.81 %
Free Cash Flow ex dividends xxxxxxxxxxxxxxx-37.4 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 xxxxxxxxxxxxxxx27 M
Long Term Debt xxxxxxxxxxxxxxx29 M
Total Debt xxxxxxxxxxxxxxx56 M
Goodwill - Gross xxxxxxxxxxxxxxx-
Cash & Equivalents - Generic xxxxxxxxxxxxxxx98 M
Price To Book Value xxxxxxxxxxxxxxx1.50

Short-Term Debt

Long Term Debt

Total Debt

Goodwill - Gross

Cash & Equivalents - Generic

Price To Book Value

Title 201920202021202220232024
Capex xxxxxxxxxxxxxxx40.7 M
Capex % of Sales xxxxxxxxxxxxxxx17.75 %
Cost of Goods Sold xxxxxxxxxxxxxxx282 M
Selling, General & Admin. Exp & Other xxxxxxxxxxxxxxx9 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

0.0

No. Of Recommendations

2
BROKER DATE RATING RECOMMENDATION TARGET PRICE % TO REACH TARGET COMMENTARY

Ord Minnett

xx/xx/xxxx

1

xxxxxxxxxxx xxx

$xx.xx

xx.xx%

Broker commentary and detailed analysis is available for Full Members Only.
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Bell Potter

29/04/2025

5

Downgrade to Sell from Hold

$2.30

-17.56%

Pantoro reported March quarter gold production of 18,334oz at a cost (AISC) of $2,427/oz, missing Bell Potter's forecast of 20,505oz.

Production guidance of 23,000oz plus or minus 10% was also missed, mainly due to delays at Scotia Underground, explains the broker.

First ore was produced from the Princess Royal open pit ahead of the analysts' expectations, and cost control remained strong, with free cash flow generation lifting cash and bullion holdings to $132.4m at quarter-end.

Revised guidance for June quarter production of 23-26koz implies to Bell Potter a second FY25 downgrade, with full-year production now expected to reach a maximum of 85koz, down from 90koz previously and 100koz initially.

Bell Potter lowers the rating to Sell from Hold and cuts the target price to $2.30 from $2.40.

FORECAST
Bell Potter forecasts a full year FY25 dividend of 0.00 cents and EPS of 4.00 cents.
Bell Potter forecasts a full year FY26 dividend of 0.00 cents and EPS of 55.10 cents.
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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

Canaccord Genuity

xx/xx/xxxx

1

xxxxxxxxxxx xxx

$xx.xx

xx.xx%

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Petra Capital

01/05/2025

1

Buy

$4.45

59.50%

Pantoro produced 18,334oz of gold in the March quarter at a cost (AISC) of $2,427/oz, missing guidance of 20,700-23,000oz, observes Petra Capital.

First ore was delivered from Princess Royal ahead of expectations, and rehabilitation and drilling commenced at Bullen.

The overall production shortfall was primarily due to lower output from the Scotia underground mine caused by a shortage of long hole drill operators, explains the broker.

The contractor is now fully staffed and throughput is expected to improve in the June quarter, alongside a production lift at OK underground.

Despite the production shortfall and -$29.5m in growth and exploration capex, the broker highlights Pantoro generated positive free cash flow, increasing its cash position by $13.4m to $132.4m.

While the broker's FY25 production forecasts have been lowered by -5%, with minor increases to cost assumptions, forecasts for FY26 and FY27 have been upgraded due to higher expected gold prices and stronger operational leverage.

Petra Capital raises the target price to $4.45 from $3.71 and retains a Buy rating. Note: The company undertook a 1-for-17 share consolidation following shareholder approval received on April 1, 2025.

FORECAST
Petra Capital forecasts a full year FY25 dividend of 0.00 cents and EPS of 49.00 cents.
Petra Capital forecasts a full year FY26 dividend of 0.00 cents and EPS of 65.70 cents.

Moelis

xx/xx/xxxx

3

xxxx

$xx.xx

xx.xx%

Broker commentary and detailed analysis is available for Full Members Only.
Login above or Get a Free Trial
Access Extra Coverage Research History >

PNR STOCK CHART

FNArena News on PNR

1
Weekly Ratings, Targets, Forecast Changes – 02-05-25

May 05 2025 - Weekly Reports
2
Australian Broker Call *Extra* Edition – May 01, 2025

May 01 2025 - Daily Market Reports
3
Australian Broker Call *Extra* Edition – Apr 30, 2025

Apr 30 2025 - Daily Market Reports
4
Australian Broker Call *Extra* Edition – Apr 14, 2025

Apr 14 2025 - Daily Market Reports
5
Weekly Ratings, Targets, Forecast Changes – 11-04-25

Apr 14 2025 - Weekly Reports

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