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

$3.39

04 May
2026

-0.010

OPEN

$3.38

-0.29%

HIGH

$3.44

3,862,249

LOW

$3.35

TARGET
$5.303 56.4% 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 14.4 xxx
DPS (cps) xxx 8.0 4.4 xxx
EPS Growth xxx 100.0% - 65.0% xxx
DPS Growth xxx 60.0% - 45.3% xxx
PE Ratio xxx N/A 23.3 xxx
Dividend Yield xxx N/A 1.3% xxx
Div Pay Ratio(%) xxx 19.5% 30.4% xxx

Dividend yield today if purchased 3 years ago: 5.61%

DIVIDEND YIELD CALCULATOR

Dividend Yield Today On Last Actual Payout :

 2.39

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

1.0

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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Macquarie

xx/xx/xxxx

1

xxxxxxxxxx

$xx.xx

xx.xx%

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UBS

30/04/2026

1

Buy

$5.00

47.49%

With pre-released "soft" production output affected by an expected mill shutdown, UBS points to March quarter AISC which were higher than forecast by some 7% for Ramelius Resources, largely attributed to capex growth.

Management has also deferred capex of circa -$100m into FY27 from FY26. Cashflow is expected to improve with a June quarter stamp duty payment of $131m allowing for possible additional share buybacks of $140m.

The broker trims FY26 production forecast to 194koz and an AISC of $2,045/oz. Buy rating retained with an unchanged $5 target price.

FORECAST
UBS forecasts a full year FY26 dividend of 4.00 cents and EPS of 6.00 cents.
UBS forecasts a full year FY27 dividend of 7.00 cents and EPS of 34.00 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

xxx

$xx.xx

xx.xx%

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Shaw and Partners

09/04/2026

1

Buy

$6.50

91.74%

Ramelius Resources delivered preliminary March quarter production results revealing 38,100 ounces.

Shaw and Partners points out March production continues to show sequentially falling FY26 production. The quarter was affected by a planned 6-day plant shutdown and high rainfall associated with Cyclone Narelle.

The delays have also bolstered the high-grade stockpiles which the company expects will contribute to a stronger fourth quarter as will a return to high-grade mining at the Cue pits.

FY26 production is expected around the midpoint of guidance of 18.5k-205k ounces.

The broker transfers coverage of Ramelius Resources to Alex Barkley. Buy rating and $6.50 target retained.

FORECAST
Shaw and Partners forecasts a full year FY26 dividend of 5.00 cents and EPS of 23.40 cents.
Shaw and Partners forecasts a full year FY27 dividend of 10.50 cents and EPS of 46.90 cents.
Access Extra Coverage Research History >

RMS STOCK CHART

FNArena News on RMS

1
Australian Broker Call *Extra* Edition – May 05, 2026

10:30 AM - Daily Market Reports
2
Rudi’s View: Stagflation, No Recession

Apr 30 2026 - Rudi's View
3
Rudi’s View: Best Buys & Conviction Calls

Apr 23 2026 - Rudi's View
4
Australian Broker Call *Extra* Edition – Apr 09, 2026

Apr 09 2026 - Daily Market Reports
5
Weekly Ratings, Targets, Forecast Changes – 02-04-26

Apr 07 2026 - Weekly Reports

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