Four Directors at IGO Limited bought/maiden bought 76,593 shares at between 7.200AUD and 7.274AUD. The significance rating of the trade was 79/100. Is that information sufficient for you to make an investment decision? This report gives details of those trades and adds context and analysis to them such that you can judge whether these trading decisions are ones worth following. Included in the report is a detailed share price chart which plots discretionary trades by all the company's director...
IGO (AU), a company active in the General Mining industry, loses a star(s) at the fundamental level and sees its general evaluation downgraded. The independent financial analyst theScreener just removed a fundamental star(s) for a 2 over 4-star rating. As such, market behaviour remains unchanged and is evaluated as moderately risky. theScreener believes that the loss of a star(s) merits downgrade to the general evaluation of the title, which passes to Neutral. As of the analysis date February 22...
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....
The Fed has massaged market expectations of lower official interest rates and with other central banks jumping onboard global financial conditions have improved in the past few months. Despite the Fed's poor form investors seem complacent about recession prospects, but the stakes are high. The Aussie stock market tends to underperform in both the slowdown and recession scenarios. A 16% return, on average, occurs during a US slowdown, while a recession scenario delivers a -12% decline on ave...
Iron ore and gold prices are flying but we don’t think either will last. Iron ore is benefiting from unusually strong demand and supply disruptions while gold is rising with negative interest rates. The global miners remain overvalued. The sector trades at an average 10% premium to our fair value estimates, versus a 20% premium three months ago. The iron ore miners--BHP, Rio Tinto, Fortescue and Vale, on average are at a 30% premium, while the rest of our coverage is only at a 4% premium. The ...
Iron ore and gold prices are flying but we don’t think either will last. Iron ore is benefiting from unusually strong demand and supply disruptions while gold is rising with negative interest rates. The global miners remain overvalued. The sector trades at an average 10% premium to our fair value estimates, versus a 20% premium three months ago. The iron ore miners--BHP, Rio Tinto, Fortescue and Vale, on average are at a 30% premium, while the rest of our coverage is only at a 4% premium. The ...
Iron ore and gold prices are flying but we don’t think either will last. Iron ore is benefiting from unusually strong demand and supply disruptions while gold is rising with negative interest rates. The global miners remain overvalued. The sector trades at an average 10% premium to our fair value estimates, versus a 20% premium three months ago. The iron ore miners--BHP, Rio Tinto, Fortescue and Vale, on average are at a 30% premium, while the rest of our coverage is only at a 4% premium. The ...
Steel-making materials stocks, those exposed to iron ore and coking coal, have markedly outperformed our near-term expectations. The key reasons have been continued strong steel demand growth, particularly in China, and more recently, Vale’s tragic tailings dam failure and Cyclone Veronica. Iron ore supply losses this year are material, about 6% of global iron ore supply and some of that will bleed into 2020. Coking coal supply has also been impacted in the near-term through increased safety i...
Steel-making materials stocks, those exposed to iron ore and coking coal, have markedly outperformed our near-term expectations. The key reasons have been continued strong steel demand growth, particularly in China, and more recently, Vale’s tragic tailings dam failure and Cyclone Veronica. Iron ore supply losses this year are material, about 6% of global iron ore supply and some of that will bleed into 2020. Coking coal supply has also been impacted in the near-term through increased safety i...
Steel-making materials stocks, those exposed to iron ore and coking coal, have markedly outperformed our near-term expectations. The key reasons have been continued strong steel demand growth, particularly in China, and more recently, Vale’s tragic tailings dam failure and Cyclone Veronica. Iron ore supply losses this year are material, about 6% of global iron ore supply and some of that will bleed into 2020. Coking coal supply has also been impacted in the near-term through increased safety i...
Steel-making materials stocks, those exposed to iron ore and coking coal, have markedly outperformed our near-term expectations. The key reasons have been continued strong steel demand growth, particularly in China, and more recently, Vale’s tragic tailings dam failure and Cyclone Veronica. Iron ore supply losses this year are material, about 6% of global iron ore supply and some of that will bleed into 2020. Coking coal supply has also been impacted in the near-term through increased safety i...
Despite a weak first-half 2019 profit result, we raise our fair value estimate for no-moat rated Independence Group by 5% to AUD 4.00 per share from AUD 3.80 previously. The increase reflects a two-year lengthening in our assumption for Tropicana’s mine life with underground mining increasingly likely, as well as the time value of money. First-half fiscal 2019 net profit after tax of AUD 0.9 million was down from AUD 3.2 million a year ago and was below our expectations. We lower our fiscal 20...
Despite a weak first-half 2019 profit result, we raise our fair value estimate for no-moat rated Independence Group by 5% to AUD 4.00 per share from AUD 3.80 previously. The increase reflects a two-year lengthening in our assumption for Tropicana’s mine life with underground mining increasingly likely, as well as the time value of money. First-half fiscal 2019 net profit after tax of AUD 0.9 million was down from AUD 3.2 million a year ago and was below our expectations. We lower our fiscal 20...
We still see significant risks for the miners and think the stocks overall are overvalued. Buoyant commodity and share prices do not reflect the inevitable shift in China’s economic growth towards less commodity consuming activities, and the market has taken too much comfort from the stimulus-fuelled recovery. The underlying sources of instability--poor quality lending in China and growing leverage are yet to be addressed. We see the greatest overvaluation among the bulk miners--those exposed ...
We still see significant risks for the miners and think the stocks overall are overvalued. Buoyant commodity and share prices do not reflect the inevitable shift in China’s economic growth towards less commodity consuming activities, and the market has taken too much comfort from the stimulus-fuelled recovery. The underlying sources of instability--poor quality lending in China and growing leverage are yet to be addressed. We see the greatest overvaluation among the bulk miners--those exposed ...
We still see significant risks for the miners and think the stocks overall are overvalued. Buoyant commodity and share prices do not reflect the inevitable shift in China’s economic growth towards less commodity consuming activities, and the market has taken too much comfort from the stimulus-fuelled recovery. The underlying sources of instability--poor quality lending in China and growing leverage are yet to be addressed. We see the greatest overvaluation among the bulk miners--those exposed ...
Independence Group's fiscal 2018 adjusted net profit after tax rose 26% to AUD 53 million. The increase reflected the first year's contribution from the Nova-Bollinger nickel mine and better profitability at the 30%-owned Tropicana gold mine. EBIT from Nova was AUD 36 million from a modest negative last year while Tropicana increased 48% to AUD 86 million thanks to a higher gold price and production and lower cash costs. At the Jaguar mine, sold in June, EBIT declined more than 60% to AUD 13 mil...
Independence Group's fiscal 2018 adjusted net profit after tax rose 26% to AUD 53 million. The increase reflected the first year's contribution from the Nova-Bollinger nickel mine and better profitability at the 30%-owned Tropicana gold mine. EBIT from Nova was AUD 36 million from a modest negative last year while Tropicana increased 48% to AUD 86 million thanks to a higher gold price and production and lower cash costs. At the Jaguar mine, sold in June, EBIT declined more than 60% to AUD 13 mil...
Independence Group's fiscal 2018 adjusted net profit after tax rose 26% to AUD 53 million. The increase reflected the first year's contribution from the Nova-Bollinger nickel mine and better profitability at the 30%-owned Tropicana gold mine. EBIT from Nova was AUD 36 million from a modest negative last year while Tropicana increased 48% to AUD 86 million thanks to a higher gold price and production and lower cash costs. At the Jaguar mine, sold in June, EBIT declined more than 60% to AUD 13 mil...
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