Viewpoint: Bullish
ORE is arguably our favourite chart at present and it continues to point to an initial +15% upside in the coming weeks / months providing a great read through for the miners / resources.
FMG goes ex-dividend on Monday delivering a $2.11 fully franked gem to its loyal investors, that’s a yield of ~17% for the last 12-months! The markets not a believer in iron ore although interestingly Twiggy Forest is committed to a long term environmentally clean roadmap for FMG. We feel this miner has gone from overbought to almost cheap in a matter…
The ASX200 closed out August in a very similar fashion to much of the previous 6-months i.e. dipping into a mid-morning low before rallying steadily throughout the day. The steady buying was broad-based with almost 70% of stocks advancing although it again felt more like a lack of selling as opposed to an ongoing scramble for risk assets – it’s no great…
FY21 Result: A busy but successful FY21 for IGO with today’s results in line with pre guidance delivered at their most recent set of production numbers in July. They have completed a major transformation into future facing industries (before BHP coined the term), divesting their Gold asset with the capital recycled into a new lithium venture. Nova finished..
FY21 Result: largely pre-released given the wagering company raised money a month ago. Revenue jumped from $75m to over $194m, however losses came in at $187m which was inline with expectations. It has been a big year for the betting company, in Australia they have gone from 90,422 active client at the end of FY20 to 196,585 today. Over that same period in the US, they have…
This is a much larger theme than just concluding that company xyz may struggle next year but we believe its going to be a very real trend – excess cash that many Australians haven’t been able to spend in their usual manner due to lockdowns has been directed towards buying stuff through classic “retail therapy” albeit now on-line. If our household…
We are all too familiar with the changes to our lifestyle delivered by the pandemic with WFH a new acronym now used regularly in day to day communications. Personally I disliked shopping centres and can’t imagine myself going back in a meaningful way (I’m a big online shopping convert) but I am over takeaway and crave sitting in a restaurant…
Over the weekend Affirm Holdings (AFRM US) and Amazon.com (AMZN US) announced a partnership that allows consumers to buy big ticket items (over $US50) in instalments, the result being that Affirm soared over 45% in one session! This is e-commerce goliath AMZN’s first partnership with a BNPL company which led to an understandable overnight…
No change, the extremely influential US large tech stocks continue to drag the broad index ever higher with the S&P500 almost posting daily fresh all-time highs, it looks set to enjoy 7 straight monthly gains, the best period in over 2 ½ years :
HUB fell almost 6% yesterday following the news that Chairman Bruce Higgins sold ~$8m worth of stock and CEO Andrew Alcock has sold ~$5m, as we said earlier never a positive when insiders sell large lines of stock hence the markets reaction. However again the stock has rallied 50% from its 2021 low making it understandable they’ve taken some…
