Evolution Mining to Gain from Expected Rise in Gold Prices, Says Jarden

MT Newswires Live
2025/07/15

Evolution Mining (ASX:EVN) is expected to grow its earnings from fiscal year 2026 as gold prices are anticipated to continue their growth based on fiscal deficits and geopolitical risks, Jarden said in a Tuesday note.

Jarden has raised its earnings forecast for the company as it expects fiscal year 2026 earnings to be AU$0.59 per share, fiscal year 2027 earnings to be AU$0.55 per share, and fiscal year 2028 earnings to be AU$0.50.

June quarter production is forecast to be relatively flat compared to the March quarter, at 183,000 ounces of gold and 18,800 tonnes of copper, despite a major shutdown at the Cowal site, Jarden added.

The company is expected to trade on enterprise value to earnings before interest, tax, depreciation and amortisation multiples of 6.6 times in 2026, 6.9 times in 2027, and 7.3 times in 2028, the note added.

Jarden has raised its price target to AU$6.32 from AU$5.57 while maintaining its underweight rating.

The company's shares rose 1% in recent Tuesday trade.

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