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: ASX300 | ALL-ORDS

LAST PRICE CHANGE +/- CHANGE % VOLUME

$6.16

02 Oct
2025

0.060

OPEN

$6.02

0.98%

HIGH

$6.21

2,742,796

LOW

$6.00

TARGET
$4.893 -20.6% downside
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FNARENA'S MARKET CONSENSUS FORECASTS
PNR: 1
Title FY24
Actual		 FY25
Actual		 FY26
Forecast		 FY27
Forecast
EPS (cps) xxx 0.9 60.4 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 10.5 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 © 2025 FactSet UK Limited. All rights reserved
Title 202020212022202320242025
EPS Basic xxxxxxxxxxxxxxx0.9
DPS All xxxxxxxxxxxxxxx0.0
Sales/Revenue xxxxxxxxxxxxxxx357.3 M
Book Value Per Share xxxxxxxxxxxxxxx7.6
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 xxxxxxxxxxxxxxx39.73

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

0.3

No. Of Recommendations

3
BROKER DATE RATING RECOMMENDATION TARGET PRICE % TO REACH TARGET COMMENTARY

Bell Potter

xx/xx/xxxx

3

xxxxxxx xx xxxx xxxx xxxx

$xx.xx

xx.xx%

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Morgans

19/09/2025

3

Initiation of coverage with Hold

$5.33

-13.47%

Morgans has initiated coverage of Pantoro Gold with a Hold rating and target price of $5.33.

The ASX-300 listed gold producer operates the 100%-owned Norseman Gold Project in Western Australia with a resource of 4.7Moz. The current annualised production run-rate is 100koz.

The broker is projecting production increase to 145kozpa by FY28 and over 150kozpa by FY29, contingent on grade uplift.

The forecast is for an average EBITDA margin of over 50% and an average EBITDA of $267m over the next 8 years.

While production and cash flow growth look compelling, the broker reckons at the current valuation the risk/reward skews are more balanced.

FORECAST
Morgans forecasts a full year FY26 dividend of 0.00 cents and EPS of 73.00 cents.
Morgans forecasts a full year FY27 dividend of 0.00 cents and EPS of 60.00 cents.

Ord Minnett

xx/xx/xxxx

1

xxxxxxxx xx xxx xxxx xxxxxxxxxxx xxx

$xx.xx

xx.xx%

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EXTRA COVERAGE
Display All Commentary

No. Of Recommendations

3

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

xxxxxxxxxxx xxx

$xx.xx

xx.xx%

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Moelis

25/09/2025

3

Hold

$4.50

-26.95%

Pantoro Gold's annual Mineral Resource and Ore Reserve update showed global reserves and resources were down -4% but Moelis notes it was broadly unchanged after adjusting for Halls Creek divestment.

The net impact on the company is largely neutral as the decline is cushioned by higher gold price assumption. The broker sees potential for significant reserve conversion from drilling in the large underground resource base.

Hold. Target unchanged at $4.50.

FORECAST
Moelis forecasts a full year FY26 dividend of 0.00 cents and EPS of 29.30 cents.

Petra Capital

xx/xx/xxxx

1

xxx

$xx.xx

xx.xx%

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PNR STOCK CHART

FNArena News on PNR

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