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

$3.40

07 Nov
2025

0.020

OPEN

$3.38

0.59%

HIGH

$3.43

7,985,659

LOW

$3.37

TARGET
$4.198 23.5% 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 22.4 xxx
DPS (cps) xxx 8.0 3.5 xxx
EPS Growth xxx 100.0% - 45.6% xxx
DPS Growth xxx 60.0% - 56.5% xxx
PE Ratio xxx N/A 15.7 xxx
Dividend Yield xxx N/A 1.0% xxx
Div Pay Ratio(%) xxx 19.5% 15.6% xxx

Dividend yield today if purchased 3 years ago: 9.36%

DIVIDEND YIELD CALCULATOR

Dividend Yield Today On Last Actual Payout :

 2.28

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: 13/09 - ex-div 5c (franking 100%)

HISTORICAL DATA ARE ALL IN AUD
Copyright © 2025 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

1.0

No. Of Recommendations

5
BROKER DATE RATING RECOMMENDATION TARGET PRICE % TO REACH TARGET COMMENTARY

Shaw and Partners

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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UBS

31/10/2025

1

Initiation of coverage with Buy

$4.00

17.65%

UBS has initiated coverage of Ramelius Resources with a Buy rating and $4 price target.

Following its freshly unveiled five-year plan, the broker argues Ramelius stands out among local peers with a tangible pathway to lift estimated production from 195kozpa in FY26 to 500-550kozpa by FY30.

UBS highlights Dalgaranga in particular is a high-grade and low-cost asset with significant potential for further optimisation and exploration success.

The report highlights many of ASX-listed peers are effectively "ex-growth".

FORECAST
UBS forecasts a full year FY26 dividend of 2.00 cents and EPS of 12.00 cents.
UBS forecasts a full year FY27 dividend of 3.00 cents and EPS of 17.00 cents.

Ord Minnett

xx/xx/xxxx

1

xxx

$xx.xx

xx.xx%

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Macquarie

xx/xx/xxxx

1

xxxxxxx xx xxxxxxxxxx xxxx xxxxxxx

$xx.xx

xx.xx%

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Access Stockbroker Research History >
EXTRA COVERAGE
Display All Commentary

No. Of Recommendations

1

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

04/11/2025

1

Buy

$5.80

70.59%

Ramelius Resources’ five-year outlook outlines a clear pathway to over 500kozpa by FY30 at costs below -$2,000/oz, observes Canaccord Genuity.

Underpinned by the Never Never, Mt Magnet-Dalgaranga, and Rebecca-Roe projects, the plan is fully funded from cash and free cashflow, offering about $100m in capex savings and $175m in operational synergies, highlight the analysts.

Management will upgrade the Mt Magnet capacity to 5mtpa from 2mtpa by FY28, targeting an initial run-rate of 4.3mtpa
from FY28-35.

The updated Rebecca-Roe definitive feasibility study (DFS) adds 130-140kozpa from FY30, notes the broker, lifting group production above 500kozpa.

Canaccord maintains a Buy rating and raises its target to $5.80 from $5.25.

FORECAST
Canaccord Genuity forecasts a full year FY26 dividend of 1.00 cents and EPS of 17.00 cents.
Canaccord Genuity forecasts a full year FY27 dividend of 6.00 cents and EPS of 24.00 cents.
Access Extra Coverage Research History >

RMS STOCK CHART

FNArena News on RMS

1
Thumbs Up For Ramelius’ Ambitious Plans

Nov 06 2025 - Commodities
2
Australian Broker Call *Extra* Edition – Nov 04, 2025

Nov 04 2025 - Daily Market Reports
3
Weekly Ratings, Targets, Forecast Changes – 31-10-25

Nov 03 2025 - Weekly Reports
4
Weekly Ratings, Targets, Forecast Changes – 10-10-25

Oct 13 2025 - Weekly Reports
5
ESG Focus: The Little Big Things – 09-10-2025

Oct 09 2025 - ESG Focus

Latest Gold & Silver News

1
Thumbs Up For Ramelius’ Ambitious Plans

Nov 06 2025 - Commodities
2
Australian Broker Call *Extra* Edition – Oct 20, 2025

Oct 20 2025 - Daily Market Reports
3
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Jul 04 2025 - Commodities
8
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Jul 01 2025 - Technicals
9
Silver Is On the Move

Jun 10 2025 - Technicals
10
De Grey Offsets Northern Star’s Production Doubt

May 05 2025 - Commodities