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

LAST PRICE CHANGE +/- CHANGE % VOLUME

$4.82

04 Feb
2026

-0.020

OPEN

$4.99

-0.41%

HIGH

$5.02

2,696,266

LOW

$4.79

TARGET
$6.397 32.7% 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 78.0 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 6.1 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 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

0.7

No. Of Recommendations

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

Morgans

xx/xx/xxxx

1

xxxxxxx xx xxx xxxx xxxx

$xx.xx

xx.xx%

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Bell Potter

27/01/2026

3

Hold

$6.05

25.52%

Pantoro Gold announced December quarter gold production of 22,071oz and all-in-sustaining costs of $2,571/oz, which came in below Bell Potter's forecasts.

Lower mined tonnes resulted in the miss, with a decline in mill throughput of -7% q/q offset by higher head grades to 2.5g/t from 2.2g/t. The gold miner also became hedge free over the period.

The analyst notes pressure remains on 2H26 guidance, which sits well above the improved December quarter result and requires 30koz per quarter to meet FY26 guidance of 100koz.

Bell Potter lifts EPS forecasts by 3% for FY26 and 27% for FY27. Target raised to $6.05 from $5.35. No change to Hold rating.

FORECAST
Bell Potter forecasts a full year FY26 dividend of 0.00 cents and EPS of 58.00 cents.
Bell Potter forecasts a full year FY27 dividend of 0.00 cents and EPS of 72.30 cents.

Ord Minnett

xx/xx/xxxx

1

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

Moelis

xx/xx/xxxx

3

xxxx

$xx.xx

xx.xx%

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Canaccord Genuity

22/01/2026

1

Speculative Buy

$7.45

54.56%

A mixed December quarter has led Canaccord Genuity to make a modest valuation adjustment for Pantoro Gold, while maintaining a constructive medium term view.

Gold production of 22koz rose 13% q/q but missed broker expectations, while AISCs of $2,571/oz were higher than forecast despite improving underground grades at OK and Scotia.

The broker expects production to lift through the remainder of FY26, with Pantoro guiding to the lower end of 100–110koz at AISCs of $1,950–2,250/oz as mining fronts normalise and open pit contributions resume.

Pantoro ended the period debt and hedge free and holding $217m in cash and bullion, providing full exposure to prevailing gold prices.

Speculative Buy rating is retained, while the target price is trimmed to $7.45 from $7.50

FORECAST
Canaccord Genuity forecasts a full year FY26 dividend of 0.00 cents and EPS of 56.00 cents.
Canaccord Genuity forecasts a full year FY27 dividend of 0.00 cents and EPS of 83.00 cents.

Petra Capital

xx/xx/xxxx

1

xxx

$xx.xx

xx.xx%

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PNR STOCK CHART

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