ORA BANDA MINING LIMITED (OBM)
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OBM

OBM - ORA BANDA MINING LIMITED

FNArena Sector : Gold & Silver
Year End: June
GICS Industry Group : Materials
Debt/EBITDA: 0.22
Index: ASX200 | ASX300 | ALL-ORDS

LAST PRICE CHANGE +/- CHANGE % VOLUME

$1.07

06 Feb
2026

-0.040

OPEN

$1.09

-3.60%

HIGH

$1.11

8,801,611

LOW

$1.06

TARGET
$1.875

+0.05 change from previous day

 75.2% upside
OTHER COMPANIES IN THE SAME SECTOR
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FNARENA'S MARKET CONSENSUS FORECASTS
OBM: 1
Title FY24
Actual		 FY25
Actual		 FY26
Forecast		 FY27
Forecast
EPS (cps) xxx 10.2 9.9 xxx
DPS (cps) xxx 0.0 0.0 xxx
EPS Growth xxx 100.0% - 2.9% xxx
DPS Growth xxx N/A N/A xxx
PE Ratio xxx N/A 12.1 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 xxxxxxxxxxxxxxx10.2
DPS All xxxxxxxxxxxxxxx0.0
Sales/Revenue xxxxxxxxxxxxxxx404.3 M
Book Value Per Share xxxxxxxxxxxxxxx15.2
Net Operating Cash Flow xxxxxxxxxxxxxxx190.5 M
Net Profit Margin xxxxxxxxxxxxxxx46.03 %

EPS Basic

DPS All

Sales/Revenue

Book Value Per Share

Net Operating Cash Flow

Net Profit Margin

Title 202020212022202320242025
Return on Capital Employed xxxxxxxxxxxxxxx97.13 %
Return on Invested Capital xxxxxxxxxxxxxxx91.11 %
Return on Assets xxxxxxxxxxxxxxx58.13 %
Return on Equity xxxxxxxxxxxxxxx97.13 %
Return on Total Capital xxxxxxxxxxxxxxx50.47 %
Free Cash Flow ex dividends xxxxxxxxxxxxxxx76.5 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 xxxxxxxxxxxxxxx28 M
Long Term Debt xxxxxxxxxxxxxxx12 M
Total Debt xxxxxxxxxxxxxxx40 M
Goodwill - Gross xxxxxxxxxxxxxxx-
Cash & Equivalents - Generic xxxxxxxxxxxxxxx84 M
Price To Book Value xxxxxxxxxxxxxxx5.03

Short-Term Debt

Long Term Debt

Total Debt

Goodwill - Gross

Cash & Equivalents - Generic

Price To Book Value

Title 202020212022202320242025
Capex xxxxxxxxxxxxxxx114.0 M
Capex % of Sales xxxxxxxxxxxxxxx28.20 %
Cost of Goods Sold xxxxxxxxxxxxxxx264 M
Selling, General & Admin. Exp & Other xxxxxxxxxxxxxxx25 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

1.0

No. Of Recommendations

2
BROKER DATE RATING RECOMMENDATION TARGET PRICE % TO REACH TARGET COMMENTARY

Macquarie

xx/xx/xxxx

1

xxxxxxx xx xxxxxxxxxx xxxx xxxxxxx

$xx.xx

xx.xx%

Broker commentary and detailed analysis is available for Full Members Only.
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Ord Minnett

29/01/2026

1

Upgrade to Buy from Hold

$2.25

110.28%

Ord Minnett brought forward its commodity price review (last done on December 12) after over 20% spike in key minerals, lifting 2026 forecasts. Silver led the gain, with 90% rise in the forecast to US$105/oz, gold up 19% and copper up 14%.

Lithium spodumene and copper remain the broker's key pick for 2026, supported by supply tightness and electrification demand, while iron ore and lithium forecasts are unchanged. A modest AUD appreciation only partly offsets the stronger outlook, with forecasts generally above market expectations.

Ora Banda Mining is upgraded to Buy from Hold with a new target of $2.25 from $1.50. The broker raises EPS estimates by 16.1% for FY26 and 29.4% for FY27.
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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

1

xxx

$xx.xx

xx.xx%

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Moelis

02/02/2026

3

Hold

$1.27

18.69%

Moelis retains a Hold rating on Ora Banda Mining but cuts its target to $1.27 from $1.37 after a softer 2Q26 update and a second downgrade to FY26 cost guidance.

Gold production and sales missed expectations, while AISC rose materially, driven by higher toll treatment charges that increase in line with the gold price, a nuance Moelis says has been poorly understood by the market.

Despite the cost pressure, the broker highlights third-party processing remains value accretive, estimating the miner would be around -$38m worse off on cash had it not sold ore externally during the half.

FY26 capex guidance was almost doubled to -$143m to accelerate growth plans, including early works for a potential new 3mtpa processing plant, which Moelis views as a logical response to capacity constraints and strong geology.

FORECAST
Moelis forecasts a full year FY26 dividend of 0.00 cents and EPS of 14.90 cents.
Moelis forecasts a full year FY27 dividend of 0.00 cents and EPS of 12.70 cents.
Access Extra Coverage Research History >

OBM STOCK CHART

FNArena News on OBM

1
Weekly Ratings, Targets, Forecast Changes – 06-02-26

Feb 09 2026 - Weekly Reports
2
Australian Broker Call *Extra* Edition – Feb 05, 2026

Feb 05 2026 - Daily Market Reports
3
Australian Broker Call *Extra* Edition – Feb 02, 2026

Feb 02 2026 - Daily Market Reports
4
Weekly Ratings, Targets, Forecast Changes – 30-01-26

Feb 02 2026 - Weekly Reports
5
Australian Broker Call *Extra* Edition – Jan 15, 2026

Jan 15 2026 - Daily Market Reports

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