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

$3.98

22 Sep
2026

0.180

OPEN

$3.90

4.74%

HIGH

$4.04

15,191,218

LOW

$3.89

TARGET
$4.673 17.4% 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 17.5 xxx
DPS (cps) xxx 6.0 2.4 xxx
EPS Growth xxx - 84.4% 100.0% xxx
DPS Growth xxx - 25.0% - 59.4% xxx
PE Ratio xxx N/A 22.9 xxx
Dividend Yield xxx N/A 0.6% xxx
Div Pay Ratio(%) xxx 93.5% 13.9% xxx

Dividend yield today if purchased 3 years ago: 4.05%

DIVIDEND YIELD CALCULATOR

Dividend Yield Today On Last Actual Payout :

 1.50

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: 15/09 - 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 xxxxxxxxxxxxxxx6.0
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

xxxxxxx

$xx.xx

xx.xx%

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Ord Minnett

xx/xx/xxxx

1

xxx

$xx.xx

xx.xx%

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Morgans

14/09/2026

1

Buy

$4.74

19.10%

Following execution of the Mt Magnet mill expansion contract, Morgans expects Ramelius Resources' update (due in September) to provide greater clarity on FY27 guidance and its outlook to FY30.

FY27 production is expected to remain within 200koz-220koz, likely towards the upper end, before higher grades and Gilbey's support growth. The Gilbey's deposit sits within the Dalgaranga operation in Western Australia's Murchison region.

Commentary adds cost inflation of up to 8% and additional sustaining capital at Galaxy will pressure near-term costs.

More positively, the $300m Edna May sale is seen as supporting investment in Mt Magnet and Rebecca Roe while preserving capital-management flexibility.

Following a change in analyst, Morgans sets its target at $4.74, down from $5.84, retains a Buy rating and names Ramelius its preferred mid-cap gold exposure.

FORECAST
Morgans forecasts a full year FY27 dividend of 5.00 cents and EPS of 17.00 cents.
Morgans forecasts a full year FY28 dividend of 12.00 cents and EPS of 38.00 cents.

UBS

xx/xx/xxxx

1

xxx

$xx.xx

xx.xx%

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Access Stockbroker Research History >
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

xxxxxxx xx xxx xxxx xxxx

$xx.xx

xx.xx%

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Shaw and Partners

04/08/2026

1

Buy

$5.60

40.70%

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

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