Perenti stock held at AUD 2.23 after more than AUD 200 million in wins

Published on 10/07/2026 at 00:11 | Editorial responsibility: Rafael Müller, Editor-in-Chief AD HOC NEWS

Perenti stock added AUD 185 million of FY2027 drilling revenue on September 29, 2026. Five analysts set a Strong Buy consensus and AUD 2.798 average target.

Perenti, AU0000061897, Illustration mit AI erstellt.

Perenti Limited (ISIN AU0000061897) was last at AUD 2.23 on the ASX on October 6, 2026, while its market capitalization stood at AUD 2.1 billion. The mining services group secured more than AUD 200 million in drilling and underground mining contracts on September 29, 2026, giving the stock a fresh order-book reference.

Contracts add FY2027 revenue

According to Mining.com.au on September 29, 2026, Perenti's five drilling businesses won contracts expected to contribute AUD 185 million in revenue during fiscal year 2027.

The awards cover Australia, the United States and Canada. Perenti's African Underground Mining Services unit also won an initial AUD 20 million underground contract with Endeavour Mining at the Sabodala-Massawa complex in Senegal, while a second production phase depends on a notice to proceed.

Margins matter after record year

IBTimes reported on September 29, 2026, that Perenti's Drilling Services division generated AUD 843 million in fiscal year 2026 revenue and record EBITDA of AUD 85 million.

The contrast between the AUD 185 million forward drilling contribution and the AUD 843 million division revenue in fiscal year 2026 shows why contract timing matters for the next reporting cycle. The Senegal award adds geographic reach, but its second phase remains conditional.

Analysts see AUD 2.798 value

According to Investing.com, five analysts hold a Strong Buy consensus on Perenti, with an average 12-month target of AUD 2.798, a high target of AUD 3.03 and a low target of AUD 2.66. The average target lies 25.47 percent above the AUD 2.23 stock price.

The target spread of AUD 0.37 between the high and low estimates points to differing views on how quickly new work converts into earnings. For investors, the key operating test is whether the secured drilling revenue offsets project timing and the conditional Senegal expansion.

Perenti stock was last at AUD 2.23

Perenti stock was last at AUD 2.23 on the ASX on October 6, 2026, at 3:10 p.m. AEDT. The 52-week range was AUD 1.78 to AUD 3.12, and trading volume reached 1,304,485 shares.