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: 0.02
Index: 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

$2.14

24 Mar
2025

-0.060

OPEN

$2.21

-2.73%

HIGH

$2.22

9,535,569

LOW

$2.13

TARGET
$2.447 14.3% upside
Franking for last dividend paid out: 100%
OTHER COMPANIES IN THE SAME SECTOR
A1M . AAM . AAR . ADT . ALK . AMI . ASL . AUE . BC8 . BEZ . BGL . BTR . CEL . CMM . CNB . CVV . CY5 . CYL . DEG . EMR . EVN . EVR . FFM . FFM . FND . GMD . GOR . GPR . HGO . IGO . KCN . KGL . MAU . MEI . MEK . MML . NEM . NST . NVA . OBM . PDI . PNR . PRU . RRL . RSG . RXL . SBM . SMI . SPR . SSR . STM . STN . SVL . TBR . TCG . TRE . TTM . VAU . WAF . WGX . WIA .
FNARENA'S MARKET CONSENSUS FORECASTS
RMS: 1
Title FY23
Actual		 FY24
Actual		 FY25
Forecast		 FY26
Forecast
EPS (cps) xxx 19.5 32.3 xxx
DPS (cps) xxx 5.0 9.6 xxx
EPS Growth xxx 100.0% 65.2% xxx
DPS Growth xxx 100.0% 92.0% xxx
PE Ratio xxx N/A 6.6 xxx
Dividend Yield xxx N/A 4.5% xxx
Div Pay Ratio(%) xxx 25.6% 29.8% xxx

Dividend yield today if purchased 3 years ago: 3.25%

DIVIDEND YIELD CALCULATOR

Dividend Yield Today On Last Actual Payout :

 2.27

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 201920202021202220232024
EPS Basic xxxxxxxxxxxxxxx19.5
DPS All xxxxxxxxxxxxxxx5.0
Sales/Revenue xxxxxxxxxxxxxxx882.5 M
Book Value Per Share xxxxxxxxxxxxxxx116.3
Net Operating Cash Flow xxxxxxxxxxxxxxx452.6 M
Net Profit Margin xxxxxxxxxxxxxxx24.54 %

EPS Basic

DPS All

Sales/Revenue

Book Value Per Share

Net Operating Cash Flow

Net Profit Margin

Title 201920202021202220232024
Return on Capital Employed xxxxxxxxxxxxxxx19.09 %
Return on Invested Capital xxxxxxxxxxxxxxx18.99 %
Return on Assets xxxxxxxxxxxxxxx15.35 %
Return on Equity xxxxxxxxxxxxxxx19.09 %
Return on Total Capital xxxxxxxxxxxxxxx23.91 %
Free Cash Flow ex dividends xxxxxxxxxxxxxxx350.7 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 xxxxxxxxxxxxxxx9 M
Long Term Debt xxxxxxxxxxxxxxx1 M
Total Debt xxxxxxxxxxxxxxx10 M
Goodwill - Gross xxxxxxxxxxxxxxx-
Cash & Equivalents - Generic xxxxxxxxxxxxxxx424 M
Price To Book Value xxxxxxxxxxxxxxx1.65

Short-Term Debt

Long Term Debt

Total Debt

Goodwill - Gross

Cash & Equivalents - Generic

Price To Book Value

Title 201920202021202220232024
Capex xxxxxxxxxxxxxxx123.1 M
Capex % of Sales xxxxxxxxxxxxxxx13.95 %
Cost of Goods Sold xxxxxxxxxxxxxxx595 M
Selling, General & Admin. Exp & Other xxxxxxxxxxxxxxx11 M
Research & Development xxxxxxxxxxxxxxx-
Investments - Total xxxxxxxxxxxxxxx100 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

0.5

No. Of Recommendations

3
BROKER DATE RATING RECOMMENDATION TARGET PRICE % TO REACH TARGET COMMENTARY

Shaw and Partners

xx/xx/xxxx

1

xxx

$xx.xx

xx.xx%

Broker commentary and detailed analysis is available for Full Members Only.
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Ord Minnett

18/03/2025

2

Accumulate

$2.35

9.81%

Ramelius Resources plans to acquire 100% of Spartan Resources ((SPR)) through a cash and scrip offfer worth $1.78 per share.

Upon completion, Ramelius shareholders will own 60.5% of the combined entity, while Spartan shareholders will hold the balance.

Ramelius is leveraging existing milling infrastructure to lower costs and improve operational efficiency, explain the analysts.

The broker sees benefits for Ramelius shareholders as the transaction significantly improves the production profile within the region  while removing some of the development risk for Spartan shareholders.

The proforma entity is expected to have a market cap of $4.2bn, over $500m in cash, and no debt, enhancing its financial flexibility, suggest the analysts.

The broker maintains its Accumulate rating on Ramelius with a target price of $2.35, pending further certainty on deal completion, expected in late-July to early-August.

FORECAST
Ord Minnett forecasts a full year FY25 dividend of 11.80 cents and EPS of 32.00 cents.
Ord Minnett forecasts a full year FY26 dividend of 3.20 cents and EPS of 22.50 cents.

Macquarie

xx/xx/xxxx

3

xxxxxxx

$xx.xx

xx.xx%

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Login above or Get a Free Trial
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

19/03/2025

1

Buy

$2.90

35.51%

Ramelius Resources and Spartan Resources ((SPR)) have entered into an agreement where Ramelius will take its stake to 100% (from 19.9%) via a combination of shares and cash. 

Canaccord Genuity notes the deal is at 11% premium to Spartan's closing share price on March 14.

If unsuccessful, Ramelius will undertake a conditional off-market takeover offer, but three shareholders owning 18.9% of the target's equity are already favouring the scheme and the takeover offer.

The broker notes the deal would make Ramelius the largest mid-tier Australian gold producer with a market cap of $4.2bn.

The analyst's standalone valuation for Ramelius is $3.317bn and for Spartan is $2.667bn, and the proforma valuation for the combination is $5.372bn.

Target price for Ramelius is unchanged at $2.9 and the rating remains Buy.

FORECAST
Canaccord Genuity forecasts a full year FY25 dividend of 8.00 cents and EPS of 32.00 cents.
Canaccord Genuity forecasts a full year FY26 dividend of 6.00 cents and EPS of 21.00 cents.
Access Extra Coverage Research History >

RMS STOCK CHART

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