Recycling business SGM is a stock MM has liked for a while with its environmentally friendly outlook likely to catch potential suitors’ attention e.g. even China is gearing up to switch to the use of scrap metal instead of relying on Australia’s iron ore. The stocks are certainly at the cheap end of town trading on an Est P/E of ~8x plus the companies already generating plenty of cash hence we like the outlook for this $4.1bn business on a number of fronts including as a potential takeover target.
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Performance update for March, stocks that drove returns & our current positioning
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Friday 26th April – ASX200 -101pts, Newmont (NEM), Resmed (RMD) & Super Retail (SUL)
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Market Matters Research Lead Shawn Hickman with David Koch
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MM likes SGM around $21
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Performance update for March, stocks that drove returns & our current positioning
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Friday 26th April – ASX200 -101pts, Newmont (NEM), Resmed (RMD) & Super Retail (SUL)
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Market Matters Research Lead Shawn Hickman with David Koch
Recorded Monday 25th March
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