Aurizon Holdings (AZJ) +3.9%: traded higher on their first half result today. EBIT a slight beat of 3% at $454m the main number in question. Coal volumes have been weak to start the year, tracking around 10% below last forcing Aurizon to downgrade haulage expectations for the full year by ~5% to 200-210mt before a rebound in FY22. The bulks side of the business continues to do well with revenues up 8%. There remains around $50m in the buy-back kitty (out of the $300m buy back), which could also be topped up with the sale of their Acaciaridge Terminal on track for completion in March. This is a deep value coal exposure that would potentially fit in the MM Income Portfolio with a forecast yield of ~7%.
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Performance update for March, stocks that drove returns & our current positioning
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Fri 19th April – ASC200 -117pts, Pilbara (PLS), Whitehaven (WHC) & Woodside (WDS)
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Market Matters Research Lead Shawn Hickman with David Koch
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Friday 19th April – DOW up 22pts, SPI down -55pts
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MM is now considering AZJ for income
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Performance update for March, stocks that drove returns & our current positioning
Recorded Tuesday 9th April
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Fri 19th April – ASC200 -117pts, Pilbara (PLS), Whitehaven (WHC) & Woodside (WDS)
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Market Matters Research Lead Shawn Hickman with David Koch
Recorded Monday 25th March
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