Alumina (AWC) released Q3 earnings last week, had a few broker upgrades and has hit an 11-Yr low. Results highlights include: Higher aluminium production compared to previous Q. Lower costs in the Q primarily from cheaper Caustic Soda (used to purify Bauxite).
ASX fell 2.7% yesterday after holding its AGM, not necessarily on the news alone as the market had a bad day also. Plenty of information conveyed during the meeting with most of it concerning the massive $250 million chess replacement right off.
Lynas (LYC) is down 1.8% today as it releases its Q1 activity report. The highlights include: Quarterly revenue falling from $143m to $228m and Neodymium (NdPr) production falling from 1864 tonnes to 1526 tonnes.
A quick update from Northern Star – NST is up 3.5% today after posting well received Q3 activities report this morning. We hold in the Idea’s portfolio and is performing well (the gold price rose overnight again on more Middle East conflict concerns).
TPG popped 5.6% yesterday on news Vocus Group had commenced debt talks for the acquisition of TPG’s Fibre assets. Macquarie and Aware Super (the owners), are looking to finance ~$6bn in debt for their non-binding indicative bid announced at the start of August.
Telstra held its AGM today and confirmed guidance. The share price was up a touch first thing. For big companies like this AGMs rarely contain much in the way of new news – they are more a marketing exercise for shareholders and employees rather than a business event. Outlook slide: Last year's results. As you…
RIO's AGM was well received. The stock is up 2.4% first thing, double BHP's move today. The main focus is the iron ore production guidance which was unchanged. So steady as she goes. On a PE of 9.3x and a yield of 9.5% it looks extremely cheap, but as any Australian fund manager will tell…
DMP is enjoying a purple patch, up 10% in the past five days. Citi upgraded the company on Wednesday to Buy, noting that an inflection point has been reached and improvement in key financial metrics are expected.
BOQ released full year results on Wednesday and was received poorly by the market to say the least. Down 7% (a lot for a bank) on the news, followed by an interesting bounce back yesterday, up 4%.
