Viewpoint: Bullish
PDN +12.41%: Reported 1H22 results this morning that confirmed they remain in a strong financial position with net cash ~US$38m (end Dec21q). They retained their guidance FY22 cash expenditure (US$12m) and spoke to the pathway forward for production at their Langer Heinrich Uranium mine. We think PDN is the best way to play the building Uranium thematic…
Home Consortium Limited, trading as HMC Capital, is an Australia-based company. The Company is an alternative asset manager that invests in real asset strategies on behalf of individuals, large institutions, and super funds. It is engaged in managing two real estate investment trusts (REITs), namely the HomeCo Daily Needs REIT and HealthCo Healthcare & Wellness REIT. HomeCo Daily Needs REIT invests in convenience-based assets across the target sub-sectors of neighborhood retail, large format retail, and health and services. HealthCo Healthcare & Wellness REIT invests in hospitals, aged care, childcare, government, life sciences and research, and primary care and wellness property assets, as well as other healthcare and wellness property adjacencies. The REIT’s objective is to provide Unitholders with exposure to a diversified portfolio underpinned by megatrends, targeting stable and growing distributions, long-term capital growth and positive overall environmental and social impact.
US stocks experienced a roller-coaster ride overnight closing very strongly with the tech index surging 7% from its intra-day low – we remain bullish tech at current levels and this move provides us with confidence.
CAJ -1.41%: a great start to the year for diagnostics business Capitol Health. Revenue grew 11% to edge above consensus, and they managed to grow EBITDA 7% thanks in part to improving margins despite lockdowns impacting the half. As usual there was no guidance provided. We note that peer Peloton was recently acquired and Healius was also talking up M&A in their recent result. It’s hard to see…
SSM +7.55%: 1H22 results released today from the network services company showed a turnaround that is building momentum following the large acquisition of the Lend Lease Services division. Revenue was +38% at $566.2m, ahead of expectations while EBITDA was largely inline. There was no dividend declared however that was inline with recent comments at the companies AGM. We own SSM…
IGL +4.17%: one of few winners today was integrated media business IVE Group. The first half looked a big beat to consensus. EBITDA was up 25% on last year with margins increasing well above expectations. They’ve done well to manage cash flow despite the various supply chain pressures being put on the business, and leverage continues to fall, now just 0.7x EBITDA. For those that…
No major changes as US stocks attempt to weigh up the risks to economic expansion / stability from the escalating Russia-Ukraine tensions, understandably we’re currently seeing an “if in doubt stay out” mentality dominate proceedings and the downside momentum of January unfortunately felt back in play into this mornings close.
Yesterday saw MM increase our exposure to ALU following its 32% correction, its always a nice feeling to observe a stock you’ve just purchased rally over 5% but obviously 1-day doesn’t make a summer. Our initial target is another 15-20% higher inline with our outlook for growth / tech names at which point we will be looking to reduce our sector exposure, either through ALU or another of our holdings.
HUB rewarded shareholders with a great set of results on Tuesday but it took 24-hours for the market to fully digest the beat in earnings plus their significant lift in Funds Under Administration (FUA) targets – the stock had been thrown into the “naughty corner” with other platform providers who’ve struggled to contain rising operating expenses but we felt yesterday’s 9.9% pop was a…
The ASX200 enjoyed a strong recovery yesterday even after US stocks fell over 1%, the buying was broad based with less than 30% of stocks falling as the “risk on” button was re-engaged taking the market up 0.6% with tech stocks finally coming to the fore – time will tell but perhaps MM nailed it with Tuesdays report : “What Matters Today: Hold on tight but tech looks set for a decent bounce!“. More on some of…
