Exxaro Resources is a mining company, with interests in the coal, titanium dioxide, ferrous and energy markets. Co. has four reportable operating segments, which include: Coal, which produces thermal and metallurgical coal as well as other small scale products; Ferrous, which include the Mayoko iron ore project; Titanium dioxide, in which Co. holds a 43.98% equity interest in Tronox Limited and a 26% equity interest in each of the South African based operations as well as a 26% member's interest in Tronox Sands Limited Liability Partnership in the U.K.; and Other, which include the 50% equity interest in Cennergi Proprietary Limited, among others.
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Feasibility Study Results in December to be a Catalyst for this Junior
EXX offers attractive growth (CAGR of 6% to 2023) which should help contain unit costs below inflation. Encouragingly, first production at Belfast and GG6 have been moved forward which should result in coal exports increasing by c.70% in FY ‘20f. Furthermore, EXX introduced the idea of accelerating the development of its long-dated high-quality reserves to take advantage of the potential tightness in the coal market in the medium-term. Given EXX's current capex profile, additional capital for accelerate development, potential M&A, the commitment to pass on the Tronox proceeds and declining ...
Exxaro's (EXX) H1 '18 results were in line with our expectations. In our view, a revision in the Group's dividend policy overshadowed the results. The new policy resulted in the interim dividend significantly exceeding our expectations. Given EXX's extensive capex profile, we stress tested the Group's balance sheet under the new dividend policy in a low coal price environment. We support the new policy as we believe it provides greater clarity and certainty of increased cash returns for shareholders. Elsewhere, EXX continues with the digitisation of its supply chain to gain greater visibility ...
PEPKOR HOLDINGS LTD. (ZA), a company active in the Broadline Retailers industry, is favoured by a more supportive environment. The independent financial analyst theScreener has confirmed the fundamental rating of the title, which shows 2 out of 4 stars, as well as its unchanged, moderately risky market behaviour. The title leverages a more favourable environment and raises its general evaluation to Slightly Positive. As of the analysis date June 2, 2020, the closing price was ZAR 12.14 and its potential was estimated at ZAR 13.62.
The general evaluation of MR PRICE GROUP LTD. (ZA), a company active in the Apparel Retailers industry, has been upgraded by the independent financial analyst theScreener with the addition of a star. Its fundamental valuation now shows 2 out of 4 possible stars while its market behaviour can be considered as moderately risky. theScreener believes that the additional star(s) merits the upgrade of its general evaluation to Slightly Positive. As of the analysis date June 2, 2020, the closing price was ZAR 134.04 and its potential was estimated at ZAR 154.27.
VODACOM GROUP LTD. (ZA), a company active in the Mobile Telecommunications industry, is favoured by a more supportive environment. The independent financial analyst theScreener has confirmed the fundamental rating of the title, which shows 4 out of 4 stars, as well as its unchanged, defensive market behaviour. The title leverages a more favourable environment and raises its general evaluation to Positive. As of the analysis date June 2, 2020, the closing price was ZAR 127.42 and its potential was estimated at ZAR 140.48.