VAULT MINERALS LIMITED (VAU)
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VAU

VAU - VAULT MINERALS LIMITED

FNArena Sector : Gold & Silver
Year End: June
GICS Industry Group : Materials
Debt/EBITDA: 0.16
Index: ASX200 | ASX300 | ALL-ORDS

LAST PRICE CHANGE +/- CHANGE % VOLUME

$5.96

02 Mar
2026

0.080

OPEN

$6.08

1.36%

HIGH

$6.18

5,529,151

LOW

$5.91

TARGET
$7.617 27.8% upside
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FNARENA'S MARKET CONSENSUS FORECASTS
VAU: 1
Title FY24
Actual		 FY25
Actual		 FY26
Forecast		 FY27
Forecast
EPS (cps) xxx 22.7 48.9 xxx
DPS (cps) xxx 0.0 8.0 xxx
EPS Growth xxx N/A 100.0% xxx
DPS Growth xxx N/A N/A xxx
PE Ratio xxx N/A 11.8 xxx
Dividend Yield xxx N/A 1.4% xxx
Div Pay Ratio(%) xxx N/A 16.4% xxx

Dividend yield today if purchased 3 years ago: N/A

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 xxxxxxxxxxxxxxx22.7
DPS All xxxxxxxxxxxxxxx0.0
Sales/Revenue xxxxxxxxxxxxxxx1,432.1 M
Book Value Per Share xxxxxxxxxxxxxxx191.0
Net Operating Cash Flow xxxxxxxxxxxxxxx539.7 M
Net Profit Margin xxxxxxxxxxxxxxx16.55 %

EPS Basic

DPS All

Sales/Revenue

Book Value Per Share

Net Operating Cash Flow

Net Profit Margin

Title 202020212022202320242025
Return on Capital Employed xxxxxxxxxxxxxxx13.09 %
Return on Invested Capital xxxxxxxxxxxxxxx12.62 %
Return on Assets xxxxxxxxxxxxxxx10.28 %
Return on Equity xxxxxxxxxxxxxxx13.09 %
Return on Total Capital xxxxxxxxxxxxxxx13.56 %
Free Cash Flow ex dividends xxxxxxxxxxxxxxx253.9 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 xxxxxxxxxxxxxxx41 M
Long Term Debt xxxxxxxxxxxxxxx57 M
Total Debt xxxxxxxxxxxxxxx98 M
Goodwill - Gross xxxxxxxxxxxxxxx-
Cash & Equivalents - Generic xxxxxxxxxxxxxxx674 M
Price To Book Value xxxxxxxxxxxxxxx1.43

Short-Term Debt

Long Term Debt

Total Debt

Goodwill - Gross

Cash & Equivalents - Generic

Price To Book Value

Title 202020212022202320242025
Capex xxxxxxxxxxxxxxx300.8 M
Capex % of Sales xxxxxxxxxxxxxxx21.00 %
Cost of Goods Sold xxxxxxxxxxxxxxx1,130 M
Selling, General & Admin. Exp & Other xxxxxxxxxxxxxxx36 M
Research & Development xxxxxxxxxxxxxxx-
Investments - Total xxxxxxxxxxxxxxx2 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

3
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

09/02/2026

1

Upgrade to Outperform from Neutral

$7.70

29.19%

Macquarie has updated commodity price forecasts with 2026 iron ore up 4%, copper up 11%, nickel up 16%, gold up 2%, silver up 9% and lithium up 95%, with the analyst noting the price forecasts for lithium and nickel are above consensus.

Sectorally the broker is overweight spodumene, with the price forecast for 2026 to US$1,809/t, and the nickel price forecast up 16% for 2025 and 13% for 2026. The broker is even-weight rated on copper, iron ore, met-coal, aluminium, thermal coal, silver and manganese.

The analyst upgrades Vault Minerals to Outperform from Neutral with a higher target of $7.70 from $6.50 and lifts FY26 EPS forecast by 7% with FY27 unchanged.

FORECAST
Macquarie forecasts a full year FY26 dividend of 0.00 cents and EPS of 52.50 cents.
Macquarie forecasts a full year FY27 dividend of 0.00 cents and EPS of 54.70 cents.

UBS

xx/xx/xxxx

1

xxx

$xx.xx

xx.xx%

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EXTRA COVERAGE
Display All Commentary

No. Of Recommendations

3

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

Jarden

xx/xx/xxxx

3

xxxxxxx

$xx.xx

xx.xx%

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Moelis

27/01/2026

1

Buy

$7.60

27.52%

Moelis notes Vault Minerals delivered a slightly softer December quarter on production, with output of 76.5koz Au below expectations and all-in-sustaining-costs (AISC) rising to $3,160/oz, driven by lower grades at Leonora and Mount Monger, although cash increased to $536m and the balance sheet remains debt free.

Commentary highlights FY26 guidance of 332–360koz at an AISC of $2,650–2,850/oz was reiterated, with throughput expected to lift in 2H as the first stage of the Leonora plant expansion is completed, supporting a step-up in quarterly production.

The broker highlights Vault is now fully unhedged following the close-out of legacy positions, which it believes will drive a material uplift in cash flow, with excess capital increasingly likely to be returned to shareholders via buybacks or dividends.

Moelis retained its Buy rating and lifted its target price to $7.60 from $6.90.

FORECAST
Moelis forecasts a full year FY26 dividend of 0.00 cents and EPS of 19.10 cents.
Moelis forecasts a full year FY27 dividend of 0.00 cents and EPS of 74.80 cents.

Canaccord Genuity

xx/xx/xxxx

3

xxxxxxxxx xx xxxx xxxx xxx

$xx.xx

xx.xx%

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VAU STOCK CHART

FNArena News on VAU

1
FNArena Corporate Results Monitor – 27-02-2026

Feb 27 2026 - Australia
2
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Feb 04 2026 - Rudi's View
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Jan 30 2026 - Weekly Reports

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