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Production of 7.5PJe beat the broker's forecast by 3%, supported by a strong Orbost plant performance, positioning output towards the upper end of FY27 guidance.

Net debt fell to $31m from $38m at 30 June, despite elevated capex, although the analyst forecasts a rise to around $260m during FY27.

Ord Minnett forecasts production growth of 58% by FY30 and annual free cash flow of around $230m-$260m in FY29-FY30, implying yields of 42%-48%.

Target raised by 5c to $2.70. Buy rating maintained.

This is a summary of research released by Ord Minnett yesterday.

Citi rates BAP as Neutral

Citi considers the third quarter result from US company Genuine Parts Co a modest positive for Bapcor, given its higher exposure to trade customers. Trade continues to outperform retail, the US company revealed.

Weak consumer and macro conditions continue to present a risk for Bapcor in terms of the timing and magnitude of any earnings recovery and a Neutral rating and 69c target are maintained.

UBS rates BHP as Neutral

BHP Group's 1Q27 copper production came in a bit below consensus, -5%, according to UBS resulting from lower planned grades, maintenance, adverse weather and accidents.

Iron ore production of 72Mt was -1% below consensus with shipments of 74Mt, above consensus with a robust underlying performance, the analyst notes.

Coal of BMA production was 2% above consensus expectations despite some stoppages with NSW Energy coal 18% higher than consensus, while FY27 guidance was unchanged.

Realised copper prices were 12% better than consensus and met coal up 34% y/y. Stage 1 of Jensen is around 87% complete and on track for first tonnes mid-2027. Stage 2 is 16% complete with first tonnes targeted for late 2031.

No change to $62 target with a Neutral rating retained.

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ANALYSIS & DATA

FNARENA'S MARKET CONSENSUS FORECASTS

To display the stock analysis for a company please enter the company code:

ANZ | ANZ GROUP HOLDINGS LIMITED

Abbreviated format - see the full version here

LAST PRICE	CHANGE +/-	CHANGE %	VOLUME
$39.29 19 Oct 2026	0.400 OPEN $39.22	1.03% HIGH $39.50	3,469,447 LOW $38.92

LAST PRICE

CHANGE +/-

CHANGE %

VOLUME

$39.29

19 Oct
2026

market green arrow 0.400

OPEN

$39.22

market green arrow 1.03%

HIGH

$39.50

3,469,447

LOW

$38.92

TARGET
$35.922-8.6% downside
Franking for last dividend paid out: 75%

FNARENA'S MARKET CONSENSUS FORECASTS

Title	FY24 Actual	FY25 Actual	FY26 Forecast	FY27 Forecast
EPS (cps)	xxx	198.2	247.7	xxx
DPS (cps)	xxx	166.0	166.7	xxx
EPS Growth	xxx	- 9.1%	25.0%	xxx
DPS Growth	xxx	0.0%	0.4%	xxx
PE Ratio	xxx	N/A	15.7	xxx
Dividend Yield	xxx	N/A	4.3%	xxx
Div Pay Ratio(%)	xxx	83.8%	67.3%	xxx

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RBC Capital on Northern Star $NST: "NST has released a positive update for 1Q FY27 with gold production of 364koz, 7% above consensus of 342koz (RBCe 343koz) at an ASIC of A$3,217/oz, some 8% below consensus of A$3,493/oz (-4% vs RBCe A$3,340/oz). "The stronger-than-expected

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RBC Capital on Regis Resources $RRL: "1Q FY27 gold production of 83koz was pre-announced while group AISC of $3,617/oz came in 6% above consensus (+3% vs RBCe) mainly reflecting lower gold production. "RRL has maintained all FY27 guidance with production 2H weighted as multiple

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RBC Capital on Hub24 $HUB: "HUB delivered reassuring and clean 1Q27 flows. "We think HUB can continue to deliver double-digit net inflows supported by strong new adviser growth and structural growth in super and wealth. "With its all weather capabilities, HUB is our preferred

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RBC Capital on Viva Energy $VEA: "Viva has completed its major capex (refinery turnaround and ULSF project), which implies its refinery operational availability will be good over 3Q, in our view. "However, Viva is still exposed to the same issues - high crude premiums and high

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RBC Capital on Regis Resources $RRL: "RRL has released its Sept-26 quarter (1Q FY27) update. Gold production of 83koz was pre-announced while group AISC of A$3,617/oz came in 6% above consensus (+3% vs RBCe) mainly reflecting lower gold production. "FY27 production guidance is

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Citi on $BHP Group: "BHP reported September quarter copper production of 401kt (-19% QoQ), -2% vs. CitiE and -5% vs. consensus, on lower grades, maintenance, weather, safety stoppages and the Carrapateena conveyor failure. "The miss vs. consensus was partially expected after

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RBC Capital on $BHP Group: "BHP has released its 1Q FY27 update with Copper production coming in 6% below expectations while Western Australian Iron Ore (WAIO), Met Coal and Energy Coal were all in line. "FY27 guidance for production and unit costs remains unchanged as

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RBC Capital on Hub24 $HUB: "Platform net inflows were A$4.0bn in 1Q27 or Sep-26 QTR. "This was ahead of RBCe (A$3.8bn) and in line with VA Cons. We think the market will take this update as re-assuring given the recent broader industry headwinds on flows. "Platform/custodial

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Click item/line to change chart

Australia
21 October 2026 Updated : 09:42 AEDT
SPI Overnight
8866.00
+32.00
0.36%
NZ50
13661.730
+30.040
0.220%
All Ordinaries
8944.20
-31.50
-0.35%

S&P ASX 200
8816.90
-28.80
-0.33%
S&P ASX 300
8723.00
-30.00
-0.34%
Communication Services
1538.20
-1.80
-0.12%
Consumer Discretionary
3729.40
+28.20
0.76%
Consumer Staples
13792.00
+155.50
1.14%
Energy
11165.60
-148.40
-1.31%
Financials
9380.70
-45.40
-0.48%
Health Care
34269.60
+295.90
0.87%
Industrials
8034.40
-14.10
-0.18%
Info Technology
1670.50
+6.00
0.36%
Materials
22881.20
-269.10
-1.16%
Real Estate
3252.20
+22.60
0.70%
Utilities
10696.20
+51.70
0.49%
A-REITs
1517.00
+10.60
0.70%
All Technology Index
2823.60
-0.90
-0.03%
Banks
3909.50
-23.10
-0.59%
Gold Index
17689.40
-272.80
-1.52%
Metals & Mining
7836.90
-100.90
-1.27%

Click item/line to change chart

Australasia
21 October 2026 Updated : 09:42 AEDT

AUD/USD
0.7013
+0.00
0.31%
AUD/NZD
1.2345
+0.00
0.35%
NZD/USD
0.5681
0.00
-0.05%
AUD/JPY
111.00
+0.47
0.43%
SGD/AUD
1.12
0.00
-0.23%
AUD/EUR
0.6245
+0.00
0.14%
AUD/GBP
0.5244
+0.00
0.10%
AUDCAD
0.9862
+0.00
0.33%
World
21 October 2026 Updated : 09:42 AEDT
CAD/USD
0.7111
0.00
-0.01%
EUR/JPY
177.74
+0.41
0.23%
EUR/USD
1.1229
+0.00
0.15%
GBP/USD
1.3373
+0.00
0.21%
USD/JPY
158.28
+0.20
0.12%

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World
21 October 2026 Updated : 09:42 AEDT
FTSE100
10733.00
-31.69
-0.29%
DAX30
25304.42
-15.35
-0.06%
Hang Seng
23867.74
-319.09
-1.32%
Nikkei 225
64075.42
-841.28
-1.30%
NZ50
13661.730
+30.040
0.220%
DJIA
52495.88
+529.85
1.02%

S&P500
7712.57
+21.84
0.28%
Nasdaq Comp
26424.82
-6.07
-0.02%
S&P500 VIX
17.31
-1.13
-6.13%
US 10-year yield
5.117
-0.019
-0.370%
USD Index
101.73
-0.27
-0.26%
Aus Stocks
21 October 2026 Updated : 09:42 AEDT
Amcor (US)
44.73
+0.78
1.77%
Newmont (US)
116.81
-1.20
-1.02%
Rio Tinto (UK)
6545.00
-170.00
-2.53%
BHP Group (US)
81.87
-1.35
-1.62%
Rio Tinto (US)
88.16
-1.34
-1.50%
ResMed (US)
245.50
+5.73
2.39%
South32 (UK)
230.40
-3.60
-1.54%
James Hardie (US)
26.45
+0.90
3.52%
Janus Henderson (US)
51.95
-0.02
-0.04%

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Metals & Minerals
21 October 2026 Updated : 07:10 AEDT
Gold (oz)
4120.36
-21.57
-0.52%
Silver (oz)
57.74
+0.65
1.14%
Copper (lb)
6.5700
+0.02
0.31%
Aluminium (lb)
1.3698
+0.00
0.17%
Nickel (lb)
6.9279
+0.05
0.66%
Zinc (lb)
1.7132
+0.02
0.98%
Copper (t)
14480.28
+44.08
0.31%
Aluminium (t)
3019.00
+5.00
0.17%
Nickel (t)
15269.00
+100.50
0.66%
Zinc (t)
3776.00
+37.00
0.99%
Uranium (lb) weekly
90.00
+0.30
0.33%
Iron Ore (t)
90.95
0.00
0.00%
Energy
21 October 2026 Updated : 07:10 AEDT

West Texas Crude
98.28
-5.23
-5.05%
Brent Crude
109.16
-0.17
-0.16%

CALENDAR

Wednesday, 21 October 2026

AU	RBA Deputy Governor Hauser at Citi A&NZ Investment Conference
JP	Sep Trade balance
JP	Sep Trade balance adjusted
UK	BoE Governor Bailey fireside chat
UK	Sep CPI
UK	Sep CPI core
UK	Sep CPI m/m
UK	Sep CPI services
UK	Sep CPIH
UK	Sep PPI
UK	Sep PPI input
UK	Sep PPI output
US	MBA mortgage applications