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: 0.42
Index: ASX200 | ASX300 | ALL-ORDS

Pantoro Gold is a Western Australian gold producer focused on the Norseman Gold Project, which includes underground and open-pit mines and an associated processing plant.

LAST PRICE CHANGE +/- CHANGE % VOLUME

$2.21

05 Aug
2026

0.110

OPEN

$2.10

5.24%

HIGH

$2.21

5,047,208

LOW

$2.10

TARGET
$4.148 87.7% upside
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FNARENA'S MARKET CONSENSUS FORECASTS
PNR: 1
Title FY24
Actual		 FY25
Actual		 FY26
Forecast		 FY27
Forecast
EPS (cps) xxx 14.8 36.7 xxx
DPS (cps) xxx 0.0 0.0 xxx
EPS Growth xxx N/A 100.0% xxx
DPS Growth xxx N/A N/A xxx
PE Ratio xxx N/A 6.6 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 xxxxxxxxxxxxxxx14.8
DPS All xxxxxxxxxxxxxxx0.0
Sales/Revenue xxxxxxxxxxxxxxx357.3 M
Book Value Per Share xxxxxxxxxxxxxxx129.7
Net Operating Cash Flow xxxxxxxxxxxxxxx182.0 M
Net Profit Margin xxxxxxxxxxxxxxx15.86 %

EPS Basic

DPS All

Sales/Revenue

Book Value Per Share

Net Operating Cash Flow

Net Profit Margin

Title 202020212022202320242025
Return on Capital Employed xxxxxxxxxxxxxxx12.28 %
Return on Invested Capital xxxxxxxxxxxxxxx11.32 %
Return on Assets xxxxxxxxxxxxxxx9.04 %
Return on Equity xxxxxxxxxxxxxxx12.28 %
Return on Total Capital xxxxxxxxxxxxxxx15.28 %
Free Cash Flow ex dividends xxxxxxxxxxxxxxx96.3 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 xxxxxxxxxxxxxxx29 M
Long Term Debt xxxxxxxxxxxxxxx49 M
Total Debt xxxxxxxxxxxxxxx78 M
Goodwill - Gross xxxxxxxxxxxxxxx-
Cash & Equivalents - Generic xxxxxxxxxxxxxxx152 M
Price To Book Value xxxxxxxxxxxxxxx2.34

Short-Term Debt

Long Term Debt

Total Debt

Goodwill - Gross

Cash & Equivalents - Generic

Price To Book Value

Title 202020212022202320242025
Capex xxxxxxxxxxxxxxx106.7 M
Capex % of Sales xxxxxxxxxxxxxxx29.87 %
Cost of Goods Sold xxxxxxxxxxxxxxx262 M
Selling, General & Admin. Exp & Other xxxxxxxxxxxxxxx14 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

0.8

No. Of Recommendations

4
BROKER DATE RATING RECOMMENDATION TARGET PRICE % TO REACH TARGET COMMENTARY

Ord Minnett

xx/xx/xxxx

1

xxx

$xx.xx

xx.xx%

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Bell Potter

xx/xx/xxxx

3

xxxx

$xx.xx

xx.xx%

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UBS

10/07/2026

1

Buy

$3.60

62.90%

UBS flags the soft quarterly result from Pantoro Gold amid a contractor change-out and underperformance.

Norseman generated 18,000 ounces which was below expectations and which signals the full year production of 77,000 ounces will be below the bottom end of guidance of 86,000 ounces. The company is aiming for 90-105,000 ounces in FY27.

Cost estimates are in line with expectations. UBS notes the "patchy delivery" from the company means it trades at a discount to peers. Buy rating retained. Target is reduced to $3.60 from $5.10.

FORECAST
UBS forecasts a full year FY26 dividend of 0.00 cents and EPS of 33.00 cents.
UBS forecasts a full year FY27 dividend of 0.00 cents and EPS of 58.00 cents.

Morgans

xx/xx/xxxx

1

xxx

$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

Canaccord Genuity

xx/xx/xxxx

1

xxxxxxxxxxx xxx

$xx.xx

xx.xx%

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Moelis

01/08/2026

1

Buy

$3.60

62.90%

Moelis maintains a Buy rating for Pantoro Gold with a $3.60 target price following fourth-quarter production results delivering 18.0koz of gold.

All-in sustaining costs reached $4,107/oz due to contractor changeouts at the OK Underground and a $5m quarter-on-quarter increase in fuel expenditure to -$16m.

Subcontractor and maintenance staffing shortages along with localised seismicity impacted overall output, though underground ore mining volumes expanded sequentially.

Cash reserves closed at $215.8m following -$10.8m spent on share buy-backs purchasing 3.1m shares at an average price of $3.26 per share.

The analyst considers the Norseman asset base to hold significant high-grade potential, suggesting consistent operational execution will be required to eliminate the current market performance discount.
Access Extra Coverage Research History >

PNR STOCK CHART

FNArena News on PNR

1
Australian Broker Call *Extra* Edition – Aug 04, 2026

Aug 04 2026 - Daily Market Reports
2
Australian Broker Call *Extra* Edition – Aug 03, 2026

Aug 03 2026 - Daily Market Reports
3
Investor Sentiment Yet To Turn For Pantoro Gold

Jul 16 2026 - Commodities
4
Australian Broker Call *Extra* Edition – Jul 15, 2026

Jul 15 2026 - Daily Market Reports
5
Australian Broker Call *Extra* Edition – Jul 13, 2026

Jul 13 2026 - Daily Market Reports

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