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Ramelius Resources Limited
(Sydney:RMS)
Ramelius Resources Limited (RMS) vs. iShares MSCI Australia ETF (EWA)
Ramelius Resources Limited Business Overview & Revenue Model
Ramelius Resources Limited Earnings Call Summary
Ramelius Resources Limited Financial Statement Overview
| Breakdown | TTM | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 1.20B | 1.20B | 882.51M | 631.20M | 603.56M | 633.96M |
| Gross Profit | 695.04M | 695.04M | 313.54M | 114.46M | 117.48M | 180.15M |
| EBITDA | 804.41M | 804.41M | 464.56M | 260.32M | 208.84M | 340.89M |
| Net Income | 474.17M | 474.17M | 216.58M | 61.56M | 12.40M | 126.78M |
Balance Sheet | ||||||
| Total Assets | 2.39B | 2.39B | 1.59B | 1.19B | 972.57M | 869.04M |
| Cash, Cash Equivalents and Short-Term Investments | 783.68M | 783.68M | 424.27M | 250.96M | 147.78M | 228.50M |
| Total Debt | 64.42M | 64.42M | 10.47M | 28.44M | 50.81M | 26.04M |
| Total Liabilities | 483.64M | 483.64M | 264.82M | 250.68M | 251.71M | 233.26M |
| Stockholders Equity | 1.91B | 1.91B | 1.33B | 940.25M | 720.87M | 635.78M |
Cash Flow | ||||||
| Free Cash Flow | 610.33M | 610.33M | 331.63M | 70.59M | 12.13M | 139.70M |
| Operating Cash Flow | 770.83M | 770.83M | 454.77M | 259.95M | 158.01M | 305.24M |
| Investing Cash Flow | -326.19M | -326.19M | -242.68M | -120.78M | -192.84M | -183.35M |
| Financing Cash Flow | -85.23M | -85.23M | -38.78M | -35.99M | -45.89M | -59.06M |
Ramelius Resources Limited Technical Analysis
Ramelius Resources Limited Peers Comparison
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
78 Outperform | AU$5.88B | 23.05 | 16.68% | 0.65% | 30.46% | ― | |
76 Outperform | AU$8.68B | 10.97 | 28.58% | 1.92% | 36.34% | 110.55% | |
76 Outperform | AU$6.11B | 25.87 | 13.09% | ― | 130.98% | ― | |
73 Outperform | AU$4.39B | 49.85 | 14.25% | ― | 17.59% | 0.98% | |
70 Outperform | $6.38B | 175.32 | 2.43% | 0.46% | 89.86% | -81.65% | |
61 Neutral | $10.43B | 7.12 | -0.05% | 2.87% | 2.86% | -36.73% |
Ramelius Resources Limited Corporate Events
Ramelius Resources Limited has announced the cessation of 309,519 performance rights (ASX code RMSAD) after the conditional rights lapsed because their vesting conditions were not met or became incapable of being satisfied as of 15 January 2026. The lapse reduces the company’s potential future share dilution under its incentive arrangements, signalling that certain performance hurdles tied to these rights were not achieved, which may have implications for management incentives and capital structure planning but does not affect the company’s existing issued share capital.
The most recent analyst rating on (AU:RMS) stock is a Buy with a A$6.05 price target. To see the full list of analyst forecasts on Ramelius Resources Limited stock, see the AU:RMS Stock Forecast page.
Ramelius Resources reported December quarter gold output of 45,610 ounces, bringing year‑to‑date production to 100,623 ounces and keeping the company on track to meet its FY26 guidance of 185,000 to 205,000 ounces. The miner generated A$67 million in underlying free cash flow before tax and dividends, ended the quarter with A$694.3 million in cash and gold, and underscored growth plans including development of the Dalgaranga mine, expansion works at the Mt Magnet plant, progress on the Rebecca‑Roe project via a Native Title Mining Agreement, and initiation of a A$250 million share buyback alongside a higher minimum dividend level, signalling both operational momentum and increased capital returns to shareholders.
The most recent analyst rating on (AU:RMS) stock is a Buy with a A$4.60 price target. To see the full list of analyst forecasts on Ramelius Resources Limited stock, see the AU:RMS Stock Forecast page.
Ramelius Resources Limited has provided an update on its on-market share buy-back program, confirming that 159,368 ordinary fully paid shares were repurchased on the previous trading day, bringing the total number of shares bought back to date from zero to this new figure. The ongoing daily buy-back activity underscores the company’s current capital management strategy, potentially supporting earnings per share and signalling confidence in the company’s valuation to existing and prospective shareholders.
The most recent analyst rating on (AU:RMS) stock is a Buy with a A$4.60 price target. To see the full list of analyst forecasts on Ramelius Resources Limited stock, see the AU:RMS Stock Forecast page.
Ramelius Resources has disclosed a change in the interests of Managing Director Mark William Zeptner, who has been issued 652,251 unvested, unlisted performance rights at no consideration. These new rights, approved by shareholders at the company’s 25 November 2025 annual general meeting, will vest on 1 July 2028 and expire on 1 July 2030, increasing Zeptner’s overall long-term equity-based exposure to the company and reinforcing the alignment of executive incentives with shareholder returns.
The most recent analyst rating on (AU:RMS) stock is a Buy with a A$4.60 price target. To see the full list of analyst forecasts on Ramelius Resources Limited stock, see the AU:RMS Stock Forecast page.
Ramelius Resources Limited, listed on the ASX under the code RMS, has filed an updated notice regarding the issue of unquoted securities. The announcement clarifies that Exception 14 under ASX Listing Rule 7.2 applies to securities issued to managing director Mark Zeptner, updating a previous notification made on the same date and indicating the issuance falls within an exemption framework under the exchange’s rules. This procedural update may reassure investors that the equity issuance to a key executive complies with ASX requirements and does not affect the company’s available placement capacity.
The most recent analyst rating on (AU:RMS) stock is a Buy with a A$4.60 price target. To see the full list of analyst forecasts on Ramelius Resources Limited stock, see the AU:RMS Stock Forecast page.
Ramelius Resources Limited has issued 3,763,858 unquoted performance rights under its employee incentive scheme, effective 19 December 2025. The new equity awards, which are subject to transfer restrictions and will not be quoted on the ASX until those restrictions lapse, underscore the company’s continued use of equity-based incentives to align staff and executive interests with long-term shareholder value, potentially leading to some future dilution once the rights vest.
The most recent analyst rating on (AU:RMS) stock is a Buy with a A$4.60 price target. To see the full list of analyst forecasts on Ramelius Resources Limited stock, see the AU:RMS Stock Forecast page.
Ramelius Resources Limited has applied to the ASX for quotation of 69,184 new ordinary fully paid shares issued on 19 December 2025 under an employee incentive scheme. The modest new issuance, which will rank alongside existing quoted shares, reflects the company’s ongoing use of equity-based remuneration to attract and retain staff, with limited immediate dilutionary impact for existing shareholders.
The most recent analyst rating on (AU:RMS) stock is a Buy with a A$4.60 price target. To see the full list of analyst forecasts on Ramelius Resources Limited stock, see the AU:RMS Stock Forecast page.
Bulletin Resources Limited has announced the sale of three tenements from its Lake Rebecca Gold Project to Ramelius Resources Limited for $500,000. These tenements, considered non-core, are adjacent to Ramelius’s Rebecca Gold project. This transaction allows Bulletin to concentrate on its larger, recently acquired 509 square kilometer tenement package. The sale will also see Bulletin reimbursed for statutory rents, rates, and taxes related to the sold tenements, and the company remains well-funded with cash and investments totaling $18.85 million as of September 2025.
The most recent analyst rating on (AU:RMS) stock is a Buy with a A$4.60 price target. To see the full list of analyst forecasts on Ramelius Resources Limited stock, see the AU:RMS Stock Forecast page.
Ramelius Resources Limited has announced the application for quotation of 3,527 ordinary fully paid securities on the Australian Securities Exchange (ASX) under the code RMS. These securities are issued under an employee incentive scheme, reflecting the company’s commitment to aligning employee interests with corporate growth, potentially impacting stakeholder confidence positively.
The most recent analyst rating on (AU:RMS) stock is a Buy with a A$4.20 price target. To see the full list of analyst forecasts on Ramelius Resources Limited stock, see the AU:RMS Stock Forecast page.
Ramelius Resources Limited has announced a significant A$250 million share buyback program and an increase in the minimum dividend to 2 cents per share, as part of its capital allocation strategy for FY26 and FY27. This initiative reflects the company’s confidence in its ability to generate strong free cash flow and its commitment to enhancing shareholder value. Additionally, Ramelius is investing in the development of its mining operations, including the Never Never underground mine and the Mt Magnet hub, with plans to expand production capacity and explore new opportunities for growth.
The most recent analyst rating on (AU:RMS) stock is a Buy with a A$4.50 price target. To see the full list of analyst forecasts on Ramelius Resources Limited stock, see the AU:RMS Stock Forecast page.
Ramelius Resources Limited has announced an on-market buy-back of its ordinary fully paid shares, as per its latest notification to the ASX. This strategic move is likely aimed at optimizing the company’s capital structure and potentially enhancing shareholder value, reflecting a proactive approach in managing its financial resources.
The most recent analyst rating on (AU:RMS) stock is a Buy with a A$4.50 price target. To see the full list of analyst forecasts on Ramelius Resources Limited stock, see the AU:RMS Stock Forecast page.
Ramelius Resources Limited has successfully signed a Native Title Mining Agreement with the Kakarra Part B Native Title Holders for the Rebecca-Roe Gold Project. This agreement is a pivotal step in advancing the project’s development, allowing for the acceleration of key priorities such as optimization work streams and statutory approvals, with early works expected to commence in early 2026. The agreement is expected to deliver economic and social benefits to the Native Title Holders, securing the project’s long-term operational future.
The most recent analyst rating on (AU:RMS) stock is a Buy with a A$3.90 price target. To see the full list of analyst forecasts on Ramelius Resources Limited stock, see the AU:RMS Stock Forecast page.
Ramelius Resources Limited has announced the application for quotation of 100,956 ordinary fully paid securities on the Australian Securities Exchange, effective November 28, 2025. This move is part of an employee incentive scheme, indicating a strategic effort to enhance employee engagement and retention, which could positively impact the company’s operational efficiency and market positioning.
The most recent analyst rating on (AU:RMS) stock is a Buy with a A$4.20 price target. To see the full list of analyst forecasts on Ramelius Resources Limited stock, see the AU:RMS Stock Forecast page.
Ramelius Resources Limited announced the successful outcomes of its 2025 Annual General Meeting, where all proposed resolutions were passed by a significant majority. The resolutions included the adoption of the remuneration report, elections and re-elections of directors, and approvals related to performance rights and director fee pools, indicating strong shareholder support and a stable governance structure.
The most recent analyst rating on (AU:RMS) stock is a Buy with a A$4.20 price target. To see the full list of analyst forecasts on Ramelius Resources Limited stock, see the AU:RMS Stock Forecast page.
Ramelius Resources Limited announced a transformative year marked by record gold production and a strategic merger with Spartan Resources, enhancing its operational scale and financial strength. Despite a rise in recordable injuries, the company reported a significant increase in net profit and declared a maiden dividend, while outlining future growth plans including expansions and exploration investments.
The most recent analyst rating on (AU:RMS) stock is a Buy with a A$4.20 price target. To see the full list of analyst forecasts on Ramelius Resources Limited stock, see the AU:RMS Stock Forecast page.
Ramelius Resources Limited has outlined a 5-year growth strategy to increase its production to over 500,000 ounces. This plan highlights the company’s commitment to expanding its operational capacity and improving its financial performance. The presentation emphasizes the use of non-IFRS financial measures to provide insights into the company’s cost management and financial health, although these measures are not standardized and should be interpreted with caution.
The most recent analyst rating on (AU:RMS) stock is a Buy with a A$4.00 price target. To see the full list of analyst forecasts on Ramelius Resources Limited stock, see the AU:RMS Stock Forecast page.
Ramelius Resources Limited has announced the issuance of 95,287 ordinary fully paid securities, which will be quoted on the ASX. This issuance is part of an employee incentive scheme, indicating the company’s efforts to align employee interests with its growth and operational goals, potentially impacting its market positioning and stakeholder engagement positively.
The most recent analyst rating on (AU:RMS) stock is a Buy with a A$4.00 price target. To see the full list of analyst forecasts on Ramelius Resources Limited stock, see the AU:RMS Stock Forecast page.
Ramelius Resources Limited has announced a strategic growth plan aiming to achieve a production target of over 500,000 ounces of gold over the next five years. This ambitious pathway highlights the company’s commitment to expanding its operational capabilities and strengthening its position in the mining sector, potentially impacting stakeholders by enhancing production efficiency and profitability.
The most recent analyst rating on (AU:RMS) stock is a Buy with a A$5.25 price target. To see the full list of analyst forecasts on Ramelius Resources Limited stock, see the AU:RMS Stock Forecast page.
Ramelius Resources Limited has announced the results of its Definitive Feasibility Study (DFS) for the Rebecca-Roe Gold Project, revealing strong financial prospects with an after-tax net present value of A$692M and an internal rate of return of 34%. The project, set to commence production in late 2028, is a key component of Ramelius’ 5-Year Growth Pathway, aiming to produce over 500,000 ounces of gold annually. This development is expected to enhance Ramelius’ position as one of Australia’s largest and most profitable gold miners, with the Rebecca-Roe project providing a new mining hub in an under-explored region.
The most recent analyst rating on (AU:RMS) stock is a Buy with a A$5.25 price target. To see the full list of analyst forecasts on Ramelius Resources Limited stock, see the AU:RMS Stock Forecast page.
Ramelius Resources Limited has announced the results of its Never Never Pre-Feasibility Study and the Mt Magnet-Dalgaranga Integration Study, highlighting a significant increase in production capacity. The company plans to expand the Mt Magnet processing plant to a 5Mtpa capacity, which will include two separate comminution circuits to optimize gold recovery. This expansion is expected to position Ramelius as a leading gold producer in Australia, with a target of producing 380,000 ounces by FY30. The integration of the Never Never deposit and the plant upgrade will ensure cost-effective operations and enhance the company’s market positioning.
The most recent analyst rating on (AU:RMS) stock is a Buy with a A$5.25 price target. To see the full list of analyst forecasts on Ramelius Resources Limited stock, see the AU:RMS Stock Forecast page.
Ramelius Resources Limited has announced a fully funded 5-year gold production outlook, aiming to become a 500,000oz gold producer by FY30. The company plans significant upgrades to its Mt Magnet plant and the construction of Rebecca-Roe, with expectations of substantial free cash flow growth, positioning it as a cost leader and enhancing shareholder returns.
The most recent analyst rating on (AU:RMS) stock is a Buy with a A$5.25 price target. To see the full list of analyst forecasts on Ramelius Resources Limited stock, see the AU:RMS Stock Forecast page.
Ramelius Resources Limited has announced its vision to become a +500,000 ounces per annum producer by the fiscal year 2030. This ambitious goal is contingent upon the successful integration and optimization of its assets with Spartan, particularly focusing on the Mt Magnet and Dalgaranga operations. The company plans to conduct an integrated study to develop a long-term mine plan and optimize processing options, with results expected by the December 2025 quarter. This strategic move aims to enhance operational efficiency and reduce costs, potentially strengthening Ramelius’s position in the mining sector.
The most recent analyst rating on (AU:RMS) stock is a Buy with a A$4.00 price target. To see the full list of analyst forecasts on Ramelius Resources Limited stock, see the AU:RMS Stock Forecast page.
Ramelius Resources Limited reported a strong performance in the September 2025 quarter with a free cash flow of A$129 million, driven by robust gold production and strategic operational advancements. The company completed a transformational combination with Spartan Resources, enhancing its board and reducing royalties on the Dalgaranga Gold Project. Significant exploration results and increased resource estimates underscore Ramelius’s growth potential, while its addition to the ASX 100 index reflects its strengthened market position.
The most recent analyst rating on (AU:RMS) stock is a Buy with a A$4.00 price target. To see the full list of analyst forecasts on Ramelius Resources Limited stock, see the AU:RMS Stock Forecast page.
Ramelius Resources Limited has released its 2025 Sustainability Report, emphasizing its commitment to acknowledging the Traditional Owners of the lands where it operates. The report highlights the company’s respect for cultural heritage and traditions, which is integral to its sustainability practices and community relations.
The most recent analyst rating on (AU:RMS) stock is a Buy with a A$4.00 price target. To see the full list of analyst forecasts on Ramelius Resources Limited stock, see the AU:RMS Stock Forecast page.
Ramelius Resources Limited has released its corporate governance statement for the financial year ending 30 June 2025, which is available on their website. The statement confirms the company’s compliance with the ASX Corporate Governance Council’s recommendations, highlighting their commitment to transparency and accountability in management and oversight practices.
The most recent analyst rating on (AU:RMS) stock is a Buy with a A$4.00 price target. To see the full list of analyst forecasts on Ramelius Resources Limited stock, see the AU:RMS Stock Forecast page.
Ramelius Resources Limited has released its 2025 Annual Report, highlighting its ongoing operations and strategic positioning within the mining sector. The report outlines the company’s leadership structure and emphasizes its commitment to maintaining a strong presence in the gold mining industry, which is crucial for its stakeholders and market positioning.
The most recent analyst rating on (AU:RMS) stock is a Buy with a A$4.00 price target. To see the full list of analyst forecasts on Ramelius Resources Limited stock, see the AU:RMS Stock Forecast page.
Ramelius Resources Limited has announced its 2025 Annual General Meeting, scheduled for November 25, 2025, at the Perth Convention & Exhibition Centre. The meeting will be held in a hybrid format, allowing shareholders to attend either in person or virtually. Shareholders are encouraged to vote on resolutions via a poll and can participate in the meeting through a live webcast. The company emphasizes the importance of shareholder participation and provides detailed instructions for virtual attendance and proxy voting.
The most recent analyst rating on (AU:RMS) stock is a Buy with a A$4.00 price target. To see the full list of analyst forecasts on Ramelius Resources Limited stock, see the AU:RMS Stock Forecast page.
Ramelius Resources Limited announced the issuance of 34,622 ordinary fully paid securities, which will be quoted on the ASX. These securities are part of an employee incentive scheme and are not subject to transfer restrictions, indicating a strategic move to enhance employee engagement and potentially improve operational performance.
The most recent analyst rating on (AU:RMS) stock is a Buy with a A$4.00 price target. To see the full list of analyst forecasts on Ramelius Resources Limited stock, see the AU:RMS Stock Forecast page.
Ramelius Resources Limited announced the upcoming release of its September 2025 Quarterly Activities Report and a 5 Year Growth Pathway, which includes FY26 Guidance and several key studies. The company will hold investor conference calls to discuss these reports, indicating a strategic focus on growth and integration, which may impact its market positioning and stakeholder interests.
The most recent analyst rating on (AU:RMS) stock is a Buy with a A$4.00 price target. To see the full list of analyst forecasts on Ramelius Resources Limited stock, see the AU:RMS Stock Forecast page.