Full Article at IIR has reaffirmed its Recommended rating for PIA after undertaking a review post the appointment of a new Portfolio Manager, Harding Loevner. The full report can be found on the IIR website. On 26 July 2021, Pengana International Equities Limited (PIA) announced a fully franked dividend of 1.35 cents per share for the June quarter. This represents an 8% increase on the March quarter dividend and takes the total dividends declared for FY21 of 5.1 cents per share, fully franked....
AT: IMMOFINANZ - S&P revises rating outlook to negative, from stable on the back of S IMMO offer (neutral) PL: Banks - Rising legal risks from FX mortgages (neutral) RO: Electrica - Electrica intends to build two new production capacities of 200 MW and to start trading and supplying in the Republic of Moldova (positive) RU: Novatek - BoD proposed final 2020 DPS of RUB 23.74, above our estimates (positive) RU: Trans-Siberian Gold - Acquisition offer with a 18% premium received (positiv...
AT: Raiffeisen Bank International - Audited FY 2020 Annual Report including 2021 and mid-term outlook AT: SBO - 4Q 20 final results fully in line with preliminaries, the Board proposed not to distributed dividends (neutral) AT: Verbund - Q4 20 results above expectations, outlook adj. for Gas Connect Acquisition seems in line (neutral) PL: Allegro - Placing by controlling shareholders of 7.5% stake at PLN 60 per share (negative) PL: Banks - Likely postponement of the Supreme Court rul...
AT: EVN - FY 19/20 as expected, adj. results above forecast, DPS EUR 0.49, net profit outlook of EUR 200-230 mn, in line with RBIe of EUR 234 mn (positive) AT: OMV - EUR 200 mn investment into biofuels production at Schwechat refinery (neutral) EU: Banks - ECB limits the dividend payouts to 15% of combined 2019/2020 profits and to 0.2% of the CET 1 ratio (negative) PL: Banks - Poland to lower bank guarantee fund contributions in 2021 (positive) RO: Digi Comunication - Senior facility ...
AT: Flughafen Wien - Austirian Airlines to increase flight offering in Christmas time (neutral) PL: Santander Bank PL - PLN 121 mn one-off provision for the collective redundancies (neutral) RO: Medlife - Medlife announced the acquisition of 100% stake in Veridia Medical Center (neutral) RU: Alrosa - More signs of strong demand for diamonds in November (positive) RU: Gazprom Neft - The practise of adjusting net income on non-cash items for dividends calculation is to be prolonged (pos...
AT: S IMMO - S IMMO announces share buyback program (positive) CZ: CEZ - CEZ closed sale of Pocerady power plant three years ahead of schedule (positive) CZ: CEZ - CEZ sold Romanian assets to Macquarie (positive) PL: AmRest - Press rumors about closing bars and restaurants in Poland (negative) PL: Bank Pekao - The CEO expects to pay dividend from 2020 (positive) PL: mBank - Lusztyn replaces Jablonowska-Luba as deputy CEO (neutral) PL: Play - Iliad plans to sell Play infrastructur...
Today, Trans-Siberian Gold published its 1H 2020 IFRS financial results, which broadly stood in line with our expectations on revenue as well as EBITDA and net income, once adjusted for two one-offs. On a positive note, in the 1H 2020, the company received a net cash income tax credit of USD 1.4 mn, which supported net operating cash flow. Together with a smaller-than-expected capex, the latter delivered a strong free cash flow of USD 8.6 mn, which is only marginally below the full-year 2019 fig...
Company Events: (* preview included in the Equity Weekly) Friday, 25/09/2020 AT: Vienna Insurance Group, AGM Monday, 28/09/2020 AT: Telekom Austria, Ex-Dividend (EUR 0.23) AT: Vienna Insurance Group, Ex-Dividend (EUR 1.15) RU: Detskiy Mir, Ex-Dividend (RUB 2.50) Tuesday, 29/09/2020 AT: OMV, AGM RU: Trans-Siberian Gold, 1H Earnings Release* Wednesday, 30/09/2020 AT: Atrium, Dividend Payment (EUR 0.0675) PL: CCC, 2Q Earnings Release AT: Vienna Insurance Group, Dividend Payment (EUR 1.15) A...
ï‚§ AT: Zumtobel - Cost-driven earnings beat in 1Q (positive) ï‚§ FR: Verallia - CFO Fontaine leaves company at the end of October (neutral) ï‚§ HR: Ericsson Nikola Tesla - Extension of the Managed Services Agreement with Hrvatski Telekom (neutral) ï‚§ PL: PGE - 2Q 20 preliminary earnings negatively impacted by ca. PLN 1.0 bn special items (negative) ï‚§ RO: Electrica, Fondul Proprietatea - Media reports that Electrica, Hidroelectrica and SAPE might have lost the auction for CEZ's Romanian asset...
ï‚§ AT: Kapsch TrafficCom - Loss of contracts, US cost overruns and software issues drive 1Q preliminaries deep into the red (negative) ï‚§ AT: Wienerberger - Good 2Q performance, company lifts lower end of FY 20 l-f-l EBITDA guidance and now eyes EUR 460-480 mn (positive) ï‚§ CZ: CEZ - Bulgarian court cancelled ban on CEZ selling local assets to Eurohold (positive) ï‚§ PL: Lotos - 2Q 20 preliminary clean earnings in the black, but reported earnings heavily impacted by PLN 0.8 bn one-offs (negat...
We are initiating our coverage of Trans-Siberian Gold (TSG LN) with a BUY recommendation and a target price of GBp 126 per share. TSG is a small-cap low-cost (TCC of ca. USD 550/oz) gold miner expanding gold production with limited cost growth via the development of the higher-grade areas of the Asacha mine, in particular, its East zone characterised by a 17g/t grade of its M&II resources. As a result, TSGs all-in costs (AIC) exceeding USD1260/oz in 2020e (one of the highest among peers) are to ...
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