LARVOTTO RESOURCES LIMITED (LRV)
Share Price Analysis and Chart

23/09/2026

1

Buy

$1.50

37.61%

Moelis maintains a Buy rating for Larvotto Resources with a $1.50 target price following the release of interim financial results for the first half of FY26 featuring a loss of -$6.9m.

The analyst notes the reporting obligation does not fully reflect the potential of the business given the company remained in a development phase through the period.

Moelis updates earnings models to reflect potential ongoing corporate costs alongside reviewed amortisation rates based on updated carrying values for the Hillgrove asset and expected life-of-mine capital spend.

Moelis anticipates the company will monetise initial concentrate in the coming months before reaching nameplate output at the end of the year to help offset remaining capital spend.

A trough cash position of $44m is expected at the end of December, providing an adequate working capital buffer to navigate recent gold price weakness and support the transition towards commercial production.

FORECAST
Moelis forecasts a full year FY26 dividend of 0.00 cents and EPS of minus -4.80 cents.
Moelis forecasts a full year FY27 dividend of 0.00 cents and EPS of 18.30 cents.