Author: Harry Watt
Star Entertainment Group (SGR) +3.05%: traded higher ahead of the market today as the company announced its Sydney casino would re-open to patrons today on a restricted basis. The casino will be allowed to host 500 punters on an invitation only basis from today, while customers can return to the retailers and winers and diners […]
Vicinity Centres (VCX) unch: spent the day in front of investors looking for $1.4b in additional cash with the shopping centre manager taking a hit to capital as COVID squeezes landlords. The raise is priced at $1.48 a share, around 8% below the last traded and at a value one third below reported pre-raise NTA. […]
Macquarie Group (MGQ) +1.59%: traded higher with the market, or it could be that the market traded higher with Macquarie today. Overnight the investment bank managed to secure $US750m of tier 2 debt against the bank side of the business, at a margin of 295bps over Treasuries – a pretty tight number. They started marketing […]
Emeco Holdings (EHL) +2.84%: the contractor was higher today on updated guidance and a new contract win. Newly acquired subsidiary Pit N Portal secured a 5 year contract with Mincor (MCR) to develop the underground mining contract at the Kambalda Nickel site in WA – Mincor itself is an interesting smaller cap nickel name with […]
Blackmores (BKL) Halted-: kept in a trading halt today as they try to raise around $115m to “accelerate growth initiatives” in an effort to produce more sustainable and profitable growth according to the announcement. The raise comes 3 months after a disappointing half year result where expectations were reset despite seemingly receiving a boost in […]
Strandline Resources (STA) +6.67%: down the smaller end of the resources spectrum, Strandline is working to develop mineral sands projects in WA and Tanzania. The company presented today at a junior miners conference, particularly talking up their Coburn site in WA. Shaw & Partners’ Head of Research Andrew Hines is pretty keen on the stock, […]
Ramsay Healthcare (RHC) +3.45%: announced the results of the SPP today, with more than half of eligible shareholders applying for shares Ramsay opted to upscale the offer by an additional $100m. A total of $695m was applied for, with allocations being scaled based on the holding as at the 21st of April when the deal opened. An […]
EML Payments (EML) +12.77%: traded to a 10-week high today, now 300% higher than the low set in March. They provided a trading update talking to the impacts of COVID-19 as well as the completion of the PFS acquisition in April. With EBITDA at $27m through the first 9 months of the year, EML is on track to […]
Australian Agricultural (AAC) +3.26%: This integrated cattle and beef company started life back in 1824 and now runs the largest herd of Wagyu Beef in Australia. It’s a stock I’ve always looked at with an eye to buy given its exposure to a growing Asian middle class and their rising consumption of beef, however it’s […]
**This is an extract from the Market Matters Morning Report from 15 May. Click here to get access to the full report and more 1 Event Hospitality (EVT) $7.37 Cinema operator EVT is a Sydney based $1.2bn business that has been significantly impacted by COVID-19 and will continue to be so while social distancing remains […]
