PANTORO GOLD LIMITED (PNR)
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PNR

PNR - PANTORO GOLD LIMITED

FNArena Sector : Gold & Silver
Year End: June
GICS Industry Group : Materials
Debt/EBITDA: 0.42
Index: ASX200 | ASX300 | ALL-ORDS

Pantoro Gold is a Western Australian gold producer focused on the Norseman Gold Project, which includes underground and open-pit mines and an associated processing plant.

LAST PRICE CHANGE +/- CHANGE % VOLUME

$2.13

23 Jul
2026

0.040

OPEN

$2.12

1.91%

HIGH

$2.18

2,137,517

LOW

$2.11

TARGET
$4.835 127.0% upside
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FNARENA'S MARKET CONSENSUS FORECASTS
PNR: 1
Title FY24
Actual		 FY25
Actual		 FY26
Forecast		 FY27
Forecast
EPS (cps) xxx 14.8 41.5 xxx
DPS (cps) xxx 0.0 0.0 xxx
EPS Growth xxx N/A 100.0% xxx
DPS Growth xxx N/A N/A xxx
PE Ratio xxx N/A 4.8 xxx
Dividend Yield xxx N/A 0.0% xxx
Div Pay Ratio(%) xxx N/A N/A xxx

Dividend yield today if purchased 3 years ago: 0.00%

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 xxxxxxxxxxxxxxx14.8
DPS All xxxxxxxxxxxxxxx0.0
Sales/Revenue xxxxxxxxxxxxxxx357.3 M
Book Value Per Share xxxxxxxxxxxxxxx129.7
Net Operating Cash Flow xxxxxxxxxxxxxxx182.0 M
Net Profit Margin xxxxxxxxxxxxxxx15.86 %

EPS Basic

DPS All

Sales/Revenue

Book Value Per Share

Net Operating Cash Flow

Net Profit Margin

Title 202020212022202320242025
Return on Capital Employed xxxxxxxxxxxxxxx12.28 %
Return on Invested Capital xxxxxxxxxxxxxxx11.32 %
Return on Assets xxxxxxxxxxxxxxx9.04 %
Return on Equity xxxxxxxxxxxxxxx12.28 %
Return on Total Capital xxxxxxxxxxxxxxx15.28 %
Free Cash Flow ex dividends xxxxxxxxxxxxxxx96.3 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 xxxxxxxxxxxxxxx29 M
Long Term Debt xxxxxxxxxxxxxxx49 M
Total Debt xxxxxxxxxxxxxxx78 M
Goodwill - Gross xxxxxxxxxxxxxxx-
Cash & Equivalents - Generic xxxxxxxxxxxxxxx152 M
Price To Book Value xxxxxxxxxxxxxxx2.34

Short-Term Debt

Long Term Debt

Total Debt

Goodwill - Gross

Cash & Equivalents - Generic

Price To Book Value

Title 202020212022202320242025
Capex xxxxxxxxxxxxxxx106.7 M
Capex % of Sales xxxxxxxxxxxxxxx29.87 %
Cost of Goods Sold xxxxxxxxxxxxxxx262 M
Selling, General & Admin. Exp & Other xxxxxxxxxxxxxxx14 M
Research & Development xxxxxxxxxxxxxxx-
Investments - Total xxxxxxxxxxxxxxx0 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

0.8

No. Of Recommendations

4
BROKER DATE RATING RECOMMENDATION TARGET PRICE % TO REACH TARGET COMMENTARY

UBS

xx/xx/xxxx

1

xxx

$xx.xx

xx.xx%

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Bell Potter

xx/xx/xxxx

3

xxxx

$xx.xx

xx.xx%

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Morgans

01/05/2026

1

Buy

$6.29

195.31%

Pantoro Gold's 3Q26 production of 20.3koz fell -19.5% q/q and missed Morgans' expectations despite recent revised guidance in March arising from cyclone impacts.

AISC at $3,304/oz was notably higher than forecast and consensus due to lower production volumes and a fall in head grade of -17% q/q, the analyst explains.

Earnings (EBITDA) forecasts are lowered by -9.6% for FY26 due to lower expected production and higher costs.

A Buy rating is retained with a lower target of $6.29 from $6.53.

FORECAST
Morgans forecasts a full year FY26 dividend of 0.00 cents and EPS of 48.00 cents.
Morgans forecasts a full year FY27 dividend of 0.00 cents and EPS of 75.00 cents.

Ord Minnett

xx/xx/xxxx

1

xxx

$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

Moelis

xx/xx/xxxx

1

xxx

$xx.xx

xx.xx%

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Canaccord Genuity

13/07/2026

1

Speculative Buy

$4.20

97.18%

Canaccord Genuity maintains its Speculative Buy rating for Pantoro Gold with its target price reduced to $4.20 after updating its model for the preliminary June quarter results.

The gold production output thinned to 18koz due to localised labour shortages and contractor transition disruptions at the Norseman Gold Project.

The analyst notes the producer maintains a strong balance sheet position, remaining completely debt-free and unhedged with total liquid cash and bullion reserves standing at $223m.

Conservative management guidance for the upcoming year maps out an expected recovery up to 105koz, heavily weighted towards the second half as new high-grade underground fields mature.

The longer-term investment narrative remains supported by an upcoming five-year mine development plan and a corporate growth pathway targeting up to 200kozpa.

FORECAST
Canaccord Genuity forecasts a full year FY26 dividend of 0.00 cents and EPS of 0.36 cents.
Canaccord Genuity forecasts a full year FY27 dividend of 0.00 cents and EPS of 0.35 cents.
Access Extra Coverage Research History >

PNR STOCK CHART

FNArena News on PNR

1
Investor Sentiment Yet To Turn For Pantoro Gold

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2
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