Author: Harry Watt
Newcrest Mining (NCM) +1.93% Out with their FY20 and June Quarter production and sales scorecard today and the numbers were good. While they didn’t announce FY21 guidance (they will do at FY results next month), todays result showed that NCM, like OZL yesterday has turned the corner in terms of operational issues and can now […]
Oz Minerals (OZL) +4.24% The rally continued for OZL today on a strong set of June quarter production numbers, the short take is that operations are running well with FY20 guidance upgraded on better copper and gold output from their Australian assets. Future growth comes from continued ramp up at Carrapateena which is progressing well […]
Oil Search (OSH) +4.32% While energy names were broadly higher today, Oil Search stood out above the pack on a decent quarterly. While production fell 1% in the second quarter, revenue was smashed 26% for a first half total of $US625.6m, 19% on last year given the steep slide in energy prices in the period. […]
BHP Group (BHP) +1.09% Performed in line with peers – which underperformed the market – on the back of their 4th quarter production numbers. For the bulk, they were largely as expected, particularly in the key profit drivers. BHP’s largest earner is Iron ore with around 60% split at the EBIT level and the company delivered […]
BlueScope Steel (BSL) +3.02% Found some supporters in the analyst department with a number of brokers pushing price targets higher after pre-releasing FY20 results late last week. The company guided 2nd half EBIT to “around $260 million” which would be -48% on last year, taking full year EBIT to around $560m, off ~60% on FY19. The […]
HUB24 (HUB) -0.16% Started with a bang, finished with a whimper though still marginally outperformed the broader market after providing a FUA update for the July quarter, rounding out FY20. It was a record year for HUB with further inflows in the final quarter, and the benefit of a strong market increasing FUA by 14% […]
Whitehaven Coal (WHC) +4.11%: finally saw some love today after being one of the serial underperformers as the market rallied, Whitehaven was bid strongly on the back of an impressive quarterly that saw production hit guidance for the full year. The final quarter of the year saw the Maules Creek mine hit a record and […]
**This is an extract from the Market Matters Morning Report from 8 July. Subscribers have the opportunity to ask questions of the Market Matters team throughout the week. Click here to get access to the full report and more The MM International Equities Portfolio returned over 10% in FY20 despite the huge level of volatility […]
Northern Star (NST) +6.46% Jumped today after it followed St Barbara’s announcement yesterday and came out with a solid quarterly update of their own and managed to reinstate 7.5c their interim dividend. The gold miner pulled guidance in late March, at the peak of the crisis as a result of the added safety measures, and […]
Afterpay (APT) – Trading Halt: The Buy Now Pay Later superstar this morning released a trading update for FY20 alongside a capital raise plus the founders are selling some stock, ~$250m worth. Firstly, the trading update was a good one, they’re seeing incredibly strong sales growth with transaction value (TV) in FY20 of $11.1b which is […]
