RAMELIUS RESOURCES LIMITED (RMS)
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RMS

RMS - RAMELIUS RESOURCES LIMITED

FNArena Sector : Gold & Silver
Year End: June
GICS Industry Group : Materials
Debt/EBITDA: 0.08
Index: ASX100 | ASX200 | ASX300 | ALL-ORDS

Ramelius Resources is a Western Australian gold producer. It currently operates four mines and associated processing plants. The company listed on the ASX in 2003.

LAST PRICE CHANGE +/- CHANGE % VOLUME

$3.61

19 Mar
2026

-0.430

OPEN

$3.87

-10.64%

HIGH

$3.87

21,302,855

LOW

$3.57

TARGET
$5.34 47.9% upside
Franking for last dividend paid out: 100%
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FNARENA'S MARKET CONSENSUS FORECASTS
RMS: 1
Title FY24
Actual		 FY25
Actual		 FY26
Forecast		 FY27
Forecast
EPS (cps) xxx 41.1 18.3 xxx
DPS (cps) xxx 8.0 4.0 xxx
EPS Growth xxx 100.0% - 55.6% xxx
DPS Growth xxx 60.0% - 50.0% xxx
PE Ratio xxx N/A 19.1 xxx
Dividend Yield xxx N/A 1.1% xxx
Div Pay Ratio(%) xxx 19.5% 21.9% xxx

Dividend yield today if purchased 3 years ago: 7.27%

DIVIDEND YIELD CALCULATOR

Dividend Yield Today On Last Actual Payout :

 2.29

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

Last ex-div: 15/09 - ex-div 5.00c (franking 100%)

HISTORICAL DATA ARE ALL IN AUD
Copyright © 2026 FactSet UK Limited. All rights reserved
Title 202020212022202320242025
EPS Basic xxxxxxxxxxxxxxx41.1
DPS All xxxxxxxxxxxxxxx8.0
Sales/Revenue xxxxxxxxxxxxxxx1,203.2 M
Book Value Per Share xxxxxxxxxxxxxxx164.4
Net Operating Cash Flow xxxxxxxxxxxxxxx769.3 M
Net Profit Margin xxxxxxxxxxxxxxx39.41 %

EPS Basic

DPS All

Sales/Revenue

Book Value Per Share

Net Operating Cash Flow

Net Profit Margin

Title 202020212022202320242025
Return on Capital Employed xxxxxxxxxxxxxxx29.32 %
Return on Invested Capital xxxxxxxxxxxxxxx28.85 %
Return on Assets xxxxxxxxxxxxxxx23.46 %
Return on Equity xxxxxxxxxxxxxxx29.32 %
Return on Total Capital xxxxxxxxxxxxxxx39.53 %
Free Cash Flow ex dividends xxxxxxxxxxxxxxx566.5 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 xxxxxxxxxxxxxxx14 M
Long Term Debt xxxxxxxxxxxxxxx51 M
Total Debt xxxxxxxxxxxxxxx64 M
Goodwill - Gross xxxxxxxxxxxxxxx-
Cash & Equivalents - Generic xxxxxxxxxxxxxxx784 M
Price To Book Value xxxxxxxxxxxxxxx1.53

Short-Term Debt

Long Term Debt

Total Debt

Goodwill - Gross

Cash & Equivalents - Generic

Price To Book Value

Title 202020212022202320242025
Capex xxxxxxxxxxxxxxx160.5 M
Capex % of Sales xxxxxxxxxxxxxxx13.34 %
Cost of Goods Sold xxxxxxxxxxxxxxx533 M
Selling, General & Admin. Exp & Other xxxxxxxxxxxxxxx16 M
Research & Development xxxxxxxxxxxxxxx-
Investments - Total xxxxxxxxxxxxxxx506 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

UBS

xx/xx/xxxx

1

xxx

$xx.xx

xx.xx%

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Morgans

xx/xx/xxxx

1

xxx

$xx.xx

xx.xx%

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Macquarie

23/02/2026

3

Neutral

$4.80

32.96%

Ramelius Resources' adjusted profit was a 45% beat of Macquarie's forecast. Adjustments were related to the Spartan acquisition and royalty fair value movements.

A surprise fully franked maiden dividend of 3cps was significantly higher than the 1cps consensus estimate.

Management noted dividends and buybacks are viewed together and remain conservative, with future payouts to be reviewed as production ramps up and cash generation improves.

Ramelius is in a position to deploy excess capital in the form of dividends and buybacks following the close out of its out of the money hedge book, Macquarie notes. Neutral and $4.80 target retained.

FORECAST
Macquarie forecasts a full year FY26 dividend of 2.00 cents and EPS of 17.60 cents.
Macquarie forecasts a full year FY27 dividend of 2.00 cents and EPS of 27.10 cents.

Ord Minnett

xx/xx/xxxx

1

xxx

$xx.xx

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

Canaccord Genuity

xx/xx/xxxx

1

xxx

$xx.xx

xx.xx%

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Shaw and Partners

09/02/2026

1

Buy

$6.50

80.06%

Australian gold miners are poised to deliver strong February results, according to Shaw and Partners, underpinned by record-high gold prices in Australian dollar terms.

The backdrop is further supported by largely clean hedge books, solid operational performance and disciplined cost management across the sector, explain the analysts.

The broker suggests attention will centre on second-half outlook statements for any emerging signs of cost inflation.

For Ramelius Resources, Shaw believes the market underestimates Dalgaranga’s production potential. Also, given management’s conservative forecasting track record, it's thought additional discoveries at Cue or Magnet could drive outperformance.

Buy. Target $6.50.
Access Extra Coverage Research History >

RMS STOCK CHART

FNArena News on RMS

1
Australian Broker Call *Extra* Edition – Mar 17, 2026

Mar 17 2026 - Daily Market Reports
2
Rudi’s View: Post-February Conviction Calls

Mar 12 2026 - Rudi's View
3
Weekly Ratings, Targets, Forecast Changes – 27-02-26

Mar 02 2026 - Weekly Reports
4
Australian Broker Call *Extra* Edition – Feb 26, 2026

Feb 26 2026 - Daily Market Reports
5
Rudi’s View: Positives From February Results

Feb 26 2026 - Rudi's View

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