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: 0.1
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

$3.91

27 Aug
2026

-0.130

OPEN

$3.96

-3.22%

HIGH

$3.97

8,160,065

LOW

$3.90

TARGET
$4.738 21.2% upside
Franking for last dividend paid out: 100%
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FNARENA'S MARKET CONSENSUS FORECASTS
RMS: 1
Title FY25
Actual		 FY26
Actual		 FY27
Forecast		 FY28
Forecast
EPS (cps) xxx 6.4 23.1 xxx
DPS (cps) xxx 0.0 3.9 xxx
EPS Growth xxx - 84.4% 100.0% xxx
DPS Growth xxx N/A N/A xxx
PE Ratio xxx N/A 17.2 xxx
Dividend Yield xxx N/A 1.0% xxx
Div Pay Ratio(%) xxx N/A 16.9% 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

Last ex-div: 16/03 - ex-div 3.00c (franking 100%)

HISTORICAL DATA ARE ALL IN AUD
Copyright © 2026 FactSet UK Limited. All rights reserved
Title 202120222023202420252026
EPS Basic xxxxxxxxxxxxxxx6.4
DPS All xxxxxxxxxxxxxxx0.0
Sales/Revenue xxxxxxxxxxxxxxx1,032.8 M
Book Value Per Share xxxxxxxxxxxxxxx208.0
Net Operating Cash Flow xxxxxxxxxxxxxxx543.4 M
Net Profit Margin xxxxxxxxxxxxxxx12.14 %

EPS Basic

DPS All

Sales/Revenue

Book Value Per Share

Net Operating Cash Flow

Net Profit Margin

Title 202120222023202420252026
Return on Capital Employed xxxxxxxxxxxxxxx4.30 %
Return on Invested Capital xxxxxxxxxxxxxxx4.22 %
Return on Assets xxxxxxxxxxxxxxx3.44 %
Return on Equity xxxxxxxxxxxxxxx4.30 %
Return on Total Capital xxxxxxxxxxxxxxx14.50 %
Free Cash Flow ex dividends xxxxxxxxxxxxxxx173.6 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 202120222023202420252026
Short-Term Debt xxxxxxxxxxxxxxx19 M
Long Term Debt xxxxxxxxxxxxxxx60 M
Total Debt xxxxxxxxxxxxxxx79 M
Goodwill - Gross xxxxxxxxxxxxxxx-
Cash & Equivalents - Generic xxxxxxxxxxxxxxx608 M
Price To Book Value xxxxxxxxxxxxxxx1.40

Short-Term Debt

Long Term Debt

Total Debt

Goodwill - Gross

Cash & Equivalents - Generic

Price To Book Value

Title 202120222023202420252026
Capex xxxxxxxxxxxxxxx315.8 M
Capex % of Sales xxxxxxxxxxxxxxx30.57 %
Cost of Goods Sold xxxxxxxxxxxxxxx582 M
Selling, General & Admin. Exp & Other xxxxxxxxxxxxxxx17 M
Research & Development xxxxxxxxxxxxxxx-
Investments - Total xxxxxxxxxxxxxxx109 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

Macquarie

xx/xx/xxxx

3

xxxxxxxxx xx xxxxxxx xxxx xxxxxxxxxx

$xx.xx

xx.xx%

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UBS

xx/xx/xxxx

1

xxx

$xx.xx

xx.xx%

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Ord Minnett

24/08/2026

1

Buy

$4.45

13.81%

Ramelius Resources' FY26 result was slightly stronger than expected, with EBITDA 8% ahead of consensus and the 3cps fully franked final dividend also ahead of expectations.

Ord Minnett notes the earnings beat was largely driven by larger-than-expected non-cash inventory adjustments.

The key catalyst is an updated 4-yr production outlook to FY30, expected in September alongside FY27 guidance.

The analyst expects FY27 production of 219koz at AISC of $2,419/oz and $425m of sustaining and growth capex, with costs around 8% above consensus due to inflationary pressures.

Buy. Target slips to $4.45 from $4.80.

FORECAST
Ord Minnett forecasts a full year FY27 dividend of 1.60 cents and EPS of 20.30 cents.
Ord Minnett forecasts a full year FY28 dividend of 3.70 cents and EPS of 22.80 cents.

Morgans

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

Canaccord Genuity

xx/xx/xxxx

3

xxxxxxxxx xx xxxx xxxx xxx

$xx.xx

xx.xx%

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Shaw and Partners

04/08/2026

1

Buy

$5.60

43.22%

Shaw and Partners maintains a Buy rating for Ramelius Resources with its target price reduced to $5.60 from $6.50 following a fourth-quarter operational update.

Fourth-quarter gold production reached 53.5koz at an all-in sustaining cost of $1,973/oz, lifting full-year FY26 output to 192koz to achieve operational volume guidance.

Strong underground ramp-up at Never Never contributed 40% of June quarter production, while underlying quarterly free cash flow generated $138m.

Closing cash and bullion reserves reached $650m alongside $100m in listed security investments, providing substantial balance sheet flexibility.

Lowering gold price assumptions and incorporating higher non-cash depreciation and amortisation leads to reduced earnings projections, though the analyst maintains an optimistic outlook on long-term production expansion across the Mt Magnet hub.

FORECAST
Shaw and Partners forecasts a full year FY27 dividend of 7.00 cents and EPS of 29.50 cents.
Access Extra Coverage Research History >

RMS STOCK CHART

FNArena News on RMS

1
In Case You Missed It – BC Extra Upgrades & Downgrades – 28-08-26

Aug 28 2026 - Weekly Reports
2
Australian Broker Call *Extra* Edition – Aug 26, 2026

Aug 26 2026 - Daily Market Reports
3
Australian Broker Call *Extra* Edition – Aug 25, 2026

Aug 25 2026 - Daily Market Reports
4
FNArena Corporate Results Monitor – 24-08-2026

Aug 24 2026 - Australia
5
Australian Broker Call *Extra* Edition – Aug 04, 2026

Aug 04 2026 - Daily Market Reports

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