0455 GMT - Resolute Mining bull Macquarie reiterates an outperform rating and A$1.80 price target on the gold-mining stock despite recent logistical and supply chain disruptions. The bank pares its 2026 earnings-per-share estimate for Resolute by 4% to 15.1 U.S. cents, but makes no changes to its 2027 and 2028 estimates. Resolute "is working to mitigate disruptions by the end of the [plant shutdown] period, which should see mining activities normalize and represent a near-term catalyst for the stock," says the bank. Shares in Resolute are down 7.3% at roughly A$1.05, taking month-to-date losses to more than 18%. (rhiannon.hoyle@wsj.com; @RhiannonHoyle)

0430 GMT - The addition of activist Elliott to Northern Star's share register could signal an inflection point for the gold-mining stock, Macquarie says. Shares in Northern Star have been underperforming and Elliott will be focused on generating value, says the bank. "We see a catalyst-rich period ahead with pressure on Board and management to deliver," Macquarie says. The bank highlights Newmont, Agnico Eagle and Barrick as having the balance sheet and size to acquire Northern Star whole, should the entire company be sold. If it is carved up, Northern Star could get "quick wins" with the sale of noncore assets. A sales program could target Thunderbox, Carosue Dam, Jundee and/or Kalgoorlie Operations, it says. Macquarie keeps its outperform rating and A$25.00 target. Shares are down 3.9% at A$19.10. (rhiannon.hoyle@wsj.com; @RhiannonHoyle)

0109 GMT - Propel Funeral Partners keeps its bull at Bell Potter despite a third consecutive year of volume declines. The Australian funeral provider's annual revenue and earnings guidance fell short of analyst Chami Ratnapala's expectations. She had been less optimistic than consensus but keeps a buy rating on the stock. Looking past the softness in demand, Ratnapala says cost growth was broadly in line with her forecast, while gross margins were marginally higher. Looking ahead, she flags demographic tailwinds from an ageing baby boomer population as a sizable catalyst to the death rate from 2027 onwards. Bell Potter cuts its target price by 36% to 3.80 Australian dollars. Shares are down 2.8% at A$3.10. (stuart.condie@wsj.com)

0043 GMT - CSL's bulls at UBS think analysts elsewhere are too optimistic about the scale of margin improvement the Australian biotech can deliver in its next fiscal year. UBS analysts keep a buy rating on the stock but warn clients in a note that the consensus forecast of a 90-basis-point margin expansion at CSL's plasma-product business is too high. They expect to see an improvement on a 10% lift in collections per donor, which they say will help offset price and competitive pressures. However, there will be no return to pre-Covid levels, they add. The UBS analysts are untroubled by the hefty impairments CSL has announced. UBS cuts its target price 9.7% to A$158.00. Shares are up 0.6% at A$98.49. (stuart.condie@wsj.com)

0034 GMT - After a lull in activity levels in recent months, Morgans believes engineering contractor Civmec is entering a strong upgrade cycle. Civmec just won a tender for work on Iluka Resources' Eneabba rare-earths refinery. "We estimate that the order book--excluding the long-dated OPV program--stands at a record A$1.1 billion," says analyst Nicholas Rawlinson. There's little risk that Civmec will fall short of A$1 billion of revenue in FY27, Morgans says. Margins are key, but Civmec has a strong record of delivery. "We expect Civmec to enjoy a strong 12-24 months given increased earnings certainty and an unprecedented outlook supported by capex programs across a broad range of commodities," Morgans says. Its price target rises 15% to A$2.30/share. Civmec is down 1.1% at A$1.74 today. (david.winning@wsj.com; @dwinningWSJ)

0025 GMT - A combination of rising interest rates and taxation changes turn one of REA Group's bulls into a bear. Bell Potter analyst Michael Ardrey cuts his recommendation on the Australia-listed real-estate classifieds group to sell from buy, telling clients in a note that he expects a softening in listings volumes to more than offset REA's yield growth. He sees declining property demand hitting valuations, and points out that the News Corp-controlled advertiser has a history of EPS declines against a backdrop of falling home prices. REA looks expensive relative to other ASX-listed classifieds providers, he adds. Bell Potter cuts its target price 37% to A$137.00. Shares are down 5.4% at A$150.30. News Corp is the parent company of Dow Jones & Co., publisher of The Wall Street Journal and Dow Jones Newswires. (stuart.condie@wsj.com)

0017 GMT - Nickel Industries's share price falls 5.9% to A$0.955 after Jefferies walks back its bullish call on the stock. Jefferies cuts Nickel Industries to hold from buy, and lowers its price target by 17% to A$1.00/share, citing increasing geopolitical headwinds and higher sulfur prices reducing profit margins of its high-pressure acid leach operations. "While we believe the company is well-placed to capitalize on continued pricing strength, the increasing regulatory environment within Indonesia...are seeing us place a larger discount on future cashflows," analyst Mitch Ryan says. (david.winning@wsj.com; @dwinningWSJ)

0010 GMT - Bell Potter cuts dividend expectations for Eagers Automotive through 2028, but keeps a buy call on the stock while signaling the car dealership could beat its forecasts for 1H and 2H this year. It now assumes a dividend of 74 Australian cents a share in 2026, down 7.5% on its prior forecast. Analyst Chris Savage says this reflects a desire for "more clarity on the payout ratio policy going forward post the investment in CanadaOne and the balance between further M&A activity--particularly in Canada--and paying out a dividend." It expects Eagers's dividend to be A$0.80/share and A$0.86/share in FY27 and FY28, respectively. Bell Potter says its 1H and 2H forecasts for this year may turn out to be too low because of continued strong BYD sales and a strong rebound in Toyota sales in 2H.(david.winning@wsj.com; @dwinningWSJ)

2325 GMT - A "state-linked export desk" for Australian iron ore and other commodities could give miners a way to tackle concentrated buying by governments in markets where Australia is a major supplier, Morgan Stanley says. The bank acknowledges such a move would also create trade and sovereign risk concerns. But Australian miners currently "have limited scope to coordinate directly, and cannot agree on pricing, terms, allocation, production, or marketing strategy without creating competition law risk," MS says. Meanwhile, a "new sovereign demand/supply trend seems to be gathering pace." MS highlights China's central buying agency and now Indonesia's effort to centralize commodity exports. Globally, Australia represents about 59% of seaborne iron ore exports. It also accounts for 38% of metallurgical coal exports, 20% of thermal coal exports and 24% of total lithium supply, MS says. (rhiannon.hoyle@wsj.com; @RhiannonHoyle)

2236 GMT - NRW Holdings' failure to win a tender for work on Iluka Resources' Eneabba rare-earths refinery is disappointing, but not too significant in the scheme of things, says Jefferies. Rival contractor Civmec secured the contract. Jefferies estimates the contract is worth A$150 million. Analyst John Campbell said the Eneabba work could have partly offset the revenue hit to NRW's Minerals, Energy & Technologies business, or METS, from an existing contract with Northern Star Resources for the Fimiston project in Western Australia. "We estimate Fimiston will deliver A$285 million revenue in FY26 and A$118 million in FY27," Jefferies says. "We currently assume 8% FY27 revenue decline for METS which implicitly assumed some Eneabba work." It retains a "hold" call on NRW. (david.winning@wsj.com; @dwinningWSJ)

(END) Dow Jones Newswires

June 09, 2026 01:00 ET (05:00 GMT)

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