MAG Magmatic Resources

EQS-News: Magmatic Resources says impressive new results demonstrate Corvette growth potential

EQS-News: Magmatic Resources Ltd
Magmatic Resources says impressive new results demonstrate Corvette growth potential

29.11.2022 / 19:00 CET/CEST
The issuer is solely responsible for the content of this announcement.

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News Source: News Direct

29.11.2022 CET/CEST Dissemination of a Corporate News, transmitted by EQS News - a service of EQS Group AG.
The issuer is solely responsible for the content of this announcement.

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Language: English
Company: Magmatic Resources Ltd
United States
ISIN: AU000000MAG5
EQS News ID: 1501065

 
End of News EQS News Service

1501065  29.11.2022 CET/CEST

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29/11/2022

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Reports on Magmatic Resources

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Magnum (MAG MK) - 1Q25: Recovery Intact; Raised Dividends Payout

1Q25: Recovery Intact; Raised Dividends Payout Magnum’s 1Q25 results were within expectations. Gaming revenue achieved 91% of pre-pandemic levels, lifted by progressive ticket sales recovery and longer 4D jackpot run. With improving business volume, a healthier balance sheet and potential UMobile monetisation, Magnum remains appealing for its bargain valuations and lush dividend yield of c.7-8% for FY25-26. Retain BUY and target price of RM1.56.

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Gaming - Not The Best Year, But Most Negatives Priced In

Not The Best Year, But Most Negatives Priced In Several factors such as KLCI exclusion for the Genting group, NFOs’ flattish ticket sales, and the broad market’s impressive returns have caused fund flows to divert away temporarily from the Malaysian gaming sector, due to valuations being de-rated. Nevertheless, the sector’s appealing valuations, earnings growth and lush dividend yields still resonate well with our investment foundations. We expect a meaningful turnaround in 1H25. Maintain OVERWE...

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Magnum (MAG MK) - 3Q24: Core Operations Improve; But Dragged By Higher...

3Q24: Core Operations Improve; But Dragged By Higher Tax Expenses Magnum’s 3Q24 results came in below expectations with gaming revenue flat yoy (about 79% of pre-pandemic levels). Despite fewer draw days, PBT improved as prize payout normalised off 3Q23’s high level. Overall earnings still declined on higher tax expenses, but positively, dividend was higher. Despite an unexciting quarter, Magnum still appeals with its potential U-Mobile stake monetisation and lush dividend yield of about 8% for ...

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Magnum (MAG MK) - 2Q24: Striking The Right Numbers

2Q24: Striking The Right Numbers Magnum’s 2Q24 results came in within expectations, recording the best quarterly revenue since the onset of the COVID-19 pandemic. Gaming revenue achieved 90% of pre-pandemic levels, boosted by strong ticket sales and normalisation of prize payout. With the progressive ticket sales recovery and potential U-Mobile monetisation, Magnum remains appealing for its bargain valuations and lush dividend yield of 7-10% for FY23-24. Retain BUY with a higher target price of ...

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Gaming - Betting On The Opportunistic Wood Dragon Year

Betting On The Opportunistic Wood Dragon Year Entering the 2024 dragon year, several momentous catalysts are surfacing for the Malaysian gaming sector. Two major themes for the year include acceleration of foreign visitations and tourism consumption recovery following the conclusion of the pandemic. We maintain our view that the sector’s sequential earnings growth delivery and its deep-value fundamental qualities present prosperous capital upside for investors. Maintain OVERWEIGHT. Top picks: Ge...

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