ORI is one of the world’s largest providers of commercial explosives and blasting systems for the mining, quarrying, and infrastructure industries. The stock popped to six-year highs on Monday in line with a strong sector and market. September’s trading update was mixed, and the stock slipped accordingly, but unlike an elephant, the market appears to have forgotten.
ORI were upbeat on the day, projecting further earnings growth across all of its businesses, with its core business of blasting services remaining strong, driven by the adoption of value-adding products, services, and technology, partly offset by lower volumes from weaker thermal coal demand. The company added that demand for its suite of digital offerings and value-added services continues to grow, supported by strong recurring revenue, cross-selling benefits, and increased exploration activity, particularly in gold and copper.
- We like this growing business, but it’s slowly starting to feel fully valued around $23.
MM is cautiously bullish towards ORI
Add To Hit List
