Deutsche Rohstoff AG : Increased production and a higher oil price drive earnings. Target price raised to € 44.00. Rating Outperform
>New guidance implies higher earnings - Deutsche Rohstoff (DRAG) has raised its guidance for 2023 and 2024 due to the following reasons: 1) the strong rise in the WTI oil price and the US dollar, 2) strong operational development and 3) as a consequence of the increased planning certainty from the successful issuance of the corporate bond 2023/2028, an accelerated completion of the current drilling programme with increased working interest in current development wells...Deutsche Rohstoff AG is a Germany-based holding company. Its activities are diversified into three business segments. The Gold and Silver is engaged in extraction of those two materials mainly in Australia. Nevertheless, In September 2014, the Company sold all its shares in Wolfram Camp Mining and Tropical Metals. Moreover it also obtains silver in Germany, from which the Company makes coins. The Oil and Gas business segments is handled through its subsidiary Rhein Petroleum GmbH, Tekton Energy LLC and Salt Creek Oil & Gas LLC, and is focused on the exploration and production of oil and natural gas in Germany and the United States. The High-Tech Metals business segment is engaged in extraction and supply of materials used for production of LEDs (Light Emitting Diodes), flat panel displays, solar cells, hybrid cars and medical indispensable, such as indium, gallium, cobalt and tin. The Company operates subsidiaries in the United States, Australia, Germany and Canada.
Oddo Securities provides securities brokerage and research services. The company offers equity, economic, and derivatives research and credit analysis services. It focuses on insurance, automotive, building materials, pharmaceuticals, telecommunications, information technology, and agri-food industries.
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