Genesis Minerals (ASX: GMD) Broker Ratings

22/04/2025

• Ord Minnett has downgraded Genesis Minerals to Hold from Accumulate, raising the target price to $4.15 from $3.75. The broker notes the company's quarterly report was mixed, with production better than forecast by 10%, offset by higher-than-anticipated costs. With Genesis tracking to exceed FY25 production guidance and the stock up 130% over the last 12 months, Ord Minnett sees few reasons for the outperformance to continue.

• Bell Potter has maintained its Hold rating for Genesis Minerals while raising the target price to $4.45 from $3.75. The broker reports March quarter production of 59.2koz was well ahead of expectations, supported by strong ore purchases and above-resource grade performance at Laverton. Bell Potter has raised FY25 EPS forecasts by 24% and highlights long-term upside from the recently released 4.5moz Production Target, a 36% increase on the previous Ore Reserve estimate.

17/04/2025

• Macquarie has maintained its Neutral rating for Genesis Minerals with a target price of $4.20. The broker highlights the 3Q25 result was strong with production beating its forecast by 10% due to higher processed grades and stronger recoveries. Macquarie notes cash build of $91m was $25m higher than forecast, lifting FY25 production forecasts by 3% and raising the medium-term production outlook.

• UBS has maintained its Buy rating for Genesis Minerals with an unchanged target price of $4.50. The broker reports March quarter production was in line with expectations at 59.8koz, including 4koz from ore purchase agreements. UBS notes FY25 guidance of 190-210koz remains on track, with the Laverton restart continuing to outperform and Tower Hill development remaining on schedule for first ore in 2028.

• Shaw and Partners has downgraded Genesis Minerals to Hold from Buy with a target price of $4.00. The broker has lifted FY25 estimates to the upper end of guidance following record 3Q25 production, noting the early restart of the Laverton mill and ramp-up to 3mtpa capacity. Despite raising the target price due to upgraded gold price forecasts and higher production estimates, Shaw and Partners has downgraded the rating based on recent share price gains.

02/04/2025

• Citi has maintained its Buy rating for Genesis Minerals while raising the target price to $3.90 from $3.40. The broker stresses gold equities are currently discounting a US$2,250–US$2,500/oz gold price versus the current spot price of US$3,090/oz, highlighting increased probability of margins rising in this cycle. Citi names Genesis as its preferred gold exposure outside the ASX100, raising EPS forecasts by 8% and 9% for FY25/FY26.

Genesis Minerals Stock Price

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