Viewpoint: Bullish
FY21 Result: a slight miss on FY21 for the rare earths miner, however the outlook for the business is exceptional, and that’s what the market should focus on. EBITDA grew nearly 300% to $235m while Net profit swung back into the black however the numbers were marginally below consensus estimates. Production out of the Malaysian processing…
EVN has joined both NCM & NST by delivering a record strong $345m profit although revenue did slip 5%, the companies now even paying a 4% fully franked yield. Probably not as cheap as NST but the higher dividend is a sweetener.
The negative operational surprises appear behind us for NCM after it announced a 55% jump in profits for the full-year on revenue of $4.6bn, EBITDA soared 33% to $2.4bn. At this stage it feels that whatever NCM had delivered the stock was destined to drift in-line with negative sentiment towards the sector, we believe this could be an ever tightening…
Gold stocks are arguably the cheapest in our universe at the moment and they remind me of Whitehaven Coal (WHC) before it literally exploded out of the blocks, all we need is the gold price to start appreciating like coal did and we should see a similar capitulation by the numerous bears.
The lithium names struggled yesterday with Pilbara Minerals (PLS) -4.1% and especially Orocobre (ORE) -7.9% catching our attention. This is undoubtedly a volatile space but it’s a theme that MM believes will continue to thrive in the years ahead hence our recent purchase of Independence Group (IGO). We are buyers of further pullbacks in the sector.
The ASX200 suffered a tough Thursday closing out the day over -0.5% lower with only 30% of the index managing to close in positive territory, only really the Telco stocks managed to rally as a group. Volatility on the stock level remained elevated as reporting season starts to deliver a negative bias after promising so much early on, over the day…
FY21 Results: It wasn’t a strong year from WHC both operationally and financially however strength in the coal price has buried those sins plus the outlook for FY22 is substantially better. The main takeaway from todays conference call with management is the company is printing lots of cash, energy coal…
FY21 Result: Obviously a year of losses expected for the flying Kangaroo however it was slightly less than we thought which is a positive, while underlying EBITDA of $410m was inline with company guidance but better than market expectations of $356m. Their restructuring program is ahead of schedule and their rhetoric today was more positive.
FY21 Result: The wealth manager came into today’s result at 52 week highs so a fair amount was baked int0 the cake, and while the result was above market expectations on both revenue & profit lines + a better than expected dividend, it was not enough to entice new buyers post an early pop higher, a big reversal with the stock trading down ~10% at time of writing.
FY21 Result: A decent year for the payments tech business, managing to post revenue growth of 13% despite the lockdown headwinds. Profit jumped to $119m, up 28% and slightly ahead of market expectations. Tyro terminals grew 83% in the year despite the technical issues that plagued the company over the Christmas period. Remediation and upgrade costs…
