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: 0.08
Index: ASX100 | 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

$4.60

26 Feb
2026

-0.160

OPEN

$4.73

-3.36%

HIGH

$4.75

6,666,386

LOW

$4.58

TARGET
$5.48 19.1% upside
Franking for last dividend paid out: 100%
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FNARENA'S MARKET CONSENSUS FORECASTS
RMS: 1
Title FY24
Actual		 FY25
Actual		 FY26
Forecast		 FY27
Forecast
EPS (cps) xxx 41.1 18.3 xxx
DPS (cps) xxx 8.0 3.5 xxx
EPS Growth xxx 100.0% - 55.4% xxx
DPS Growth xxx 60.0% - 56.3% xxx
PE Ratio xxx N/A 25.0 xxx
Dividend Yield xxx N/A 0.8% xxx
Div Pay Ratio(%) xxx 19.5% 19.1% xxx

Dividend yield today if purchased 3 years ago: 8.94%

DIVIDEND YIELD CALCULATOR

Dividend Yield Today On Last Actual Payout :

 1.74

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: 15/09 - ex-div 5.00c (franking 100%)

HISTORICAL DATA ARE ALL IN AUD
Copyright © 2026 FactSet UK Limited. All rights reserved
Title 202020212022202320242025
EPS Basic xxxxxxxxxxxxxxx41.1
DPS All xxxxxxxxxxxxxxx8.0
Sales/Revenue xxxxxxxxxxxxxxx1,203.2 M
Book Value Per Share xxxxxxxxxxxxxxx164.4
Net Operating Cash Flow xxxxxxxxxxxxxxx769.3 M
Net Profit Margin xxxxxxxxxxxxxxx39.41 %

EPS Basic

DPS All

Sales/Revenue

Book Value Per Share

Net Operating Cash Flow

Net Profit Margin

Title 202020212022202320242025
Return on Capital Employed xxxxxxxxxxxxxxx29.32 %
Return on Invested Capital xxxxxxxxxxxxxxx28.85 %
Return on Assets xxxxxxxxxxxxxxx23.46 %
Return on Equity xxxxxxxxxxxxxxx29.32 %
Return on Total Capital xxxxxxxxxxxxxxx39.53 %
Free Cash Flow ex dividends xxxxxxxxxxxxxxx566.5 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 xxxxxxxxxxxxxxx14 M
Long Term Debt xxxxxxxxxxxxxxx51 M
Total Debt xxxxxxxxxxxxxxx64 M
Goodwill - Gross xxxxxxxxxxxxxxx-
Cash & Equivalents - Generic xxxxxxxxxxxxxxx784 M
Price To Book Value xxxxxxxxxxxxxxx1.53

Short-Term Debt

Long Term Debt

Total Debt

Goodwill - Gross

Cash & Equivalents - Generic

Price To Book Value

Title 202020212022202320242025
Capex xxxxxxxxxxxxxxx160.5 M
Capex % of Sales xxxxxxxxxxxxxxx13.34 %
Cost of Goods Sold xxxxxxxxxxxxxxx533 M
Selling, General & Admin. Exp & Other xxxxxxxxxxxxxxx16 M
Research & Development xxxxxxxxxxxxxxx-
Investments - Total xxxxxxxxxxxxxxx506 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

5
BROKER DATE RATING RECOMMENDATION TARGET PRICE % TO REACH TARGET COMMENTARY

Morgans

xx/xx/xxxx

1

xxx

$xx.xx

xx.xx%

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Macquarie

xx/xx/xxxx

3

xxxxxxx

$xx.xx

xx.xx%

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UBS

23/02/2026

1

Upgrade to Buy from Neutral

$5.20

13.04%

UBS upgrades Ramelius Resources to Buy from Neutral with an unchanged target of $5.20.

The gold producer reported in line financials, with the analyst highlighting a higher than expected 3cps dividend supported by a cash balance of $658m. 

UBS expects free cash flow to be pressured near term as the company invests toward over 500kozpa by FY30, but sees a rapid step-up in coming years on grade driven production growth and leading AISC, with Dalgaranga the key. 

The first truckload of Never Never ore has been delivered to Mt Magnet and first stoping is expected in March to April, supporting upside risk to near term production guidance if grades outperform. 

UBS incorporates gold price collars and one off acquisition costs, which lower FY26 EPS forecasts but lift FY27 to FY28.

FORECAST
UBS forecasts a full year FY26 dividend of 6.00 cents and EPS of 14.00 cents.
UBS forecasts a full year FY27 dividend of 8.00 cents and EPS of 39.00 cents.

Ord Minnett

xx/xx/xxxx

1

xxx

$xx.xx

xx.xx%

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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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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

26/02/2026

1

Buy

$6.05

31.52%

Canaccord Genuity assesses a strong 1H FY26 result for Ramelius Resources. Earnings (EBITDA) of $348m (72% margin) beat the broker’s $297m forecast and consensus at $293m on lower operating costs.

Profit of $160m also exceeded Canaccord's expectation. The fully franked 3c interim dividend came in ahead of consensus.

Cash and bullion totalled $694m with no debt. FY26 guidance was unchanged at 185-205koz at $1,700-1,900/oz costs (AISC).

Canaccord re-iterates a Buy rating on Ramelius Resources with an unchanged $6.05 target price.
Access Extra Coverage Research History >

RMS STOCK CHART

FNArena News on RMS

1
Australian Broker Call *Extra* Edition – Feb 26, 2026

Feb 26 2026 - Daily Market Reports
2
Rudi’s View: Positives From February Results

Feb 26 2026 - Rudi's View
3
FNArena Corporate Results Monitor – 23-02-2026

Feb 23 2026 - Australia
4
Weekly Ratings, Targets, Forecast Changes – 06-02-26

Feb 09 2026 - Weekly Reports
5
Why Gold Beats Bitcoin & ASX Opportunities

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