DETERRA ROYALTIES LIMITED (DRR)
Share Price Analysis and Chart

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DRR - DETERRA ROYALTIES LIMITED

FNArena Sector : Iron Ore
Year End: June
GICS Industry Group : Materials
Debt/EBITDA: 0
Index: ASX200 | ASX300 | ALL-ORDS

Deterra Royalties is an Australian resource royalty investment company. The company was demerged from Iluka Resources and listed on the ASX in 2020. Its cornerstone asset is the MAC Royalty, a royalty over iron ore produced from specific tenements of BHP's Mining Area C in Western Australia.

LAST PRICE CHANGE +/- CHANGE % VOLUME

$3.88

25 Jul
2024

-0.040

OPEN

$3.89

-1.02%

HIGH

$3.91

1,630,783

LOW

$3.86

TARGET
$4.35 12.1% upside
Franking for last dividend paid out: 100%
OTHER COMPANIES IN THE SAME SECTOR
BCI . CIA . FEX . FMG . GEN . GRR . MGX . MIN . RHK .
FNARENA'S MARKET CONSENSUS FORECASTS
DRR: 1
Title FY22
Actual		 FY23
Actual		 FY24
Forecast		 FY25
Forecast
EPS (cps) xxx 28.9 31.5 xxx
DPS (cps) xxx 28.9 31.4 xxx
EPS Growth xxx - 14.6% 9.3% xxx
DPS Growth xxx - 14.5% 8.7% xxx
PE Ratio xxx N/A 12.6 xxx
Dividend Yield xxx N/A 7.9% xxx
Div Pay Ratio(%) xxx 100.0% 99.4% xxx

Dividend yield today if purchased 3 years ago: 6.14%

DIVIDEND YIELD CALCULATOR

Dividend Yield Today On Last Actual Payout :

 7.29

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: 22/02 - ex-div 14.89c (franking 100%)

HISTORICAL DATA ARE ALL IN AUD
Copyright © 2024 FactSet UK Limited. All rights reserved
Title 2019202120222023
EPS Basic xxxxxxxxx28.9
DPS All xxxxxxxxx28.9
Sales/Revenue xxxxxxxxx229.3 M
Book Value Per Share xxxxxxxxx17.4
Net Operating Cash Flow xxxxxxxxx182.3 M
Net Profit Margin xxxxxxxxx66.50 %

EPS Basic

DPS All

Sales/Revenue

Book Value Per Share

Net Operating Cash Flow

Net Profit Margin

Title 2019202120222023
Return on Capital Employed xxxxxxxxx144.67 %
Return on Invested Capital xxxxxxxxx144.47 %
Return on Assets xxxxxxxxx113.48 %
Return on Equity xxxxxxxxx144.67 %
Return on Total Capital xxxxxxxxx207.34 %
Free Cash Flow ex dividends xxxxxxxxx2.1 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 2019202120222023
Short-Term Debt xxxxxxxxx0 M
Long Term Debt xxxxxxxxx0 M
Total Debt xxxxxxxxx0 M
Goodwill - Gross xxxxxxxxx-
Cash & Equivalents - Generic xxxxxxxxx29 M
Price To Book Value xxxxxxxxx26.39

Short-Term Debt

Long Term Debt

Total Debt

Goodwill - Gross

Cash & Equivalents - Generic

Price To Book Value

Title 2019202120222023
Capex xxxxxxxxx0.1 M
Capex % of Sales xxxxxxxxx0.04 %
Cost of Goods Sold xxxxxxxxx9 M
Selling, General & Admin. Exp & Other xxxxxxxxx1 M
Research & Development xxxxxxxxx-
Investments - Total xxxxxxxxx0 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

0.4

No. Of Recommendations

5
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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UBS

xx/xx/xxxx

1

xxxxxxx xx xxx xxxx xxxxxxx

$xx.xx

xx.xx%

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Morgan Stanley

24/06/2024

3

Downgrade to Equal-weight from Overweight

$3.70

-4.64%

Into the 3Q of 2024, Morgan Stanley is forecasting metallurgical coal supply tightness and demand support from India, and downside for lithium pricing on oversupply concerns.

Iron ore prices are forecast to rebound into the 4Q and gold should experience ongoing 2H support, buoyed by central bank buying and falling real yields, explains the broker.

Copper demand continues to accelerate driven by grid spend and the case for aluminium prices is compelling as cost curves rise, explain the analysts.

Morgan Stanley downgrades its rating for Deterra Royalties to Equal-weight from Overweight Equal-weight on both valuation grounds and after taking into account the recent proposed acquisition of Trident Royalties.

The target falls to $3.70 from $5.60 after the broker assigns a greater weighting to its bear case scenario for the stock due to the proposed acquisition. Industry view: Attractive. 

FORECAST
Morgan Stanley forecasts a full year FY24 dividend of 33.10 cents and EPS of 33.00 cents.
Morgan Stanley forecasts a full year FY25 dividend of 19.00 cents and EPS of 38.00 cents.

Macquarie

xx/xx/xxxx

3

xxxxxxx

$xx.xx

xx.xx%

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Citi

xx/xx/xxxx

3

xxxxxxx

$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

Goldman Sachs

xx/xx/xxxx

1

xxxxxxx xx xxx xxxx xxxxxxx

$xx.xx

xx.xx%

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Canaccord Genuity

19/06/2024

3

Hold

$5.30

36.60%

Deterra Royalties announced a cash offer to acquire Trident Royalties for -GBP144m ($276m), funded via a GBP150m bridge loan.

Canaccord Genuity notes Trident's portfolio is primarily exposed to lithium and includes royalties and streams generating free cash flow, expected to diversify Deterra Royalties' earnings.

However, this acquisition may impact on future dividend yield, as the dividend policy changes to 50% of net profit payout, highlights the broker.

The Hold rating is retained and $5.30 target price are unchanged.
Access Stockbroker Research History >

DRR STOCK CHART

FNArena News on DRR

1
Rudi’s View: Rate Cuts, Growth & Small Caps

Jul 18 2024 - Rudi's View
2
Material Matters: Iron Ore, Gold & Coal

Jul 12 2024 - Commodities
3
In Case You Missed It – BC Extra Upgrades & Downgrades – 12-07-24

Jul 12 2024 - Weekly Reports
4
Rudi’s View: Gold, Healthcare, Staples & Copper

Jul 11 2024 - Rudi's View
5
Australian Broker Call *Extra* Edition – Jul 09, 2024

Jul 09 2024 - Daily Market Reports

Latest Iron Ore News

1
Fortescue Shares Oversold

Jul 09 2024 - Technicals
2
Rudi’s View: Copper, Lithium, Retailers & TechnologyOne

Jun 27 2024 - Rudi's View
3
Deterra Seeks Growth Through Diversification

Jun 18 2024 - Small Caps
4
ESG Focus: The Little Big Things – 15-05-2024

May 15 2024 - ESG Focus
5
Fortescue: Ready To Rally

Mar 26 2024 - Technicals
6
ESG Focus: Grid Set To Enter An Iron Age

Sep 21 2023 - ESG Focus
7
Mineral Resources: Downturn Complete

Jul 04 2023 - Technicals
8
Bullish On Grange Resources

Jan 17 2023 - Technicals
9
Iron Ore: Keep Watch

Dec 08 2022 - Technicals
10
Upside For Fortescue

Dec 06 2022 - Technicals