The Australian Competition and Consumer Commission has flagged potential issues with Cleanaway's planned acquisition of the waste and recycling division of Citywide Service Solutions.
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Fund Manager Chris Pedersen discusses Brambles (ASX:BXB), Pinnacle Investment Management Group (ASX:PNI) and Cleanaway Waste Management (ASX:CWY).
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A snapshot of the stocks on the move, featuring Encounter Resources (ASX:ENR), Myer Holdings (ASX:MYR) and Cleanaway Waste Management (ASX:CWY).
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A trio of updates from third-quarter trading companies ahead of their June 30 balance dates produced one good, one bad, and one okay.
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Fund Manager Chris Pedersen discusses Sandfire Resources, Cleanaway Waste Management, South32 and the outlook for copper.
Read MoreThe target price falls to $2.30 from $2.60 and the Underperform rating is maintained.
Read MoreThe target price falls to $2.79 from $2.87, while the Hold rating is maintained.
Read MoreThe target price falls to $2.79 from $2.87, while the Hold rating is maintained.
Read MoreCleanaway has been forced to reveal its second profit downgrade in six weeks thanks to a fire at its medical waste processing facility in Dandenong, Victoria.
Read MoreCredit Suisse downgrades to Underperform from Neutral and reduces the target to $2.60 from $2.80.
Read MoreTuesday was confession time at Macquarie’s investment conference in Sydney, with a couple of companies owning up to bad news – waste group Cleanaway and chicken company Inghams.
Read MoreTarget price rises to $2.80 from $2.60. Neutral rating retained.
Read MoreThe Outperform rating is retained and the target price increases to $3.70 from $3.20.
Read MoreThe target price rises $2.75 from $2.53 and the Hold rating is maintained.
Read MoreWas it clean-up day at the ACCC yesterday or a belated Black Friday sale, with three corporate deals given the green light after hanging round for a while?
Read MoreCredit Suisse has upgraded Cleanaway to Neutral from Underperform and increased the target to $2.60 from $2.40.
Read MoreThe broker downgrades to Underperform from Neutral. Target is reduced to $2.40 from $2.50.
Read MoreCleanaway’s $2.5 billion bid to buy the Australian recycling assets of French group, Suez is dead but what about their Plan B – the acquisition of a number of Sydney-based Suez assets?
Read MoreSuez and Veolia, the two warring French waste and other industrial groups, have kissed and made up, thereby killing off Cleanaway’s $A2.5 billion deal to buy Suez’s Australian waste assets.
Read MoreCleanaway Waste has announced the potential acquisition of the Suez Groupe recycling & recovery business in Australia for $2.52bn. Neutral rating and $2.35 target retained.
Read MoreCleanaway’s plans to buy the local assets of French waste giant Suez for $2.5 billion got messy within hours of the deal being confirmed to the ASX after a month of negotiations.
Read MoreCleanaway has finally agreed to buy the Australian recycling assets of French group Suez for $2.52 billion – an offer that will entangle them in a bitter takeover battle for Suez’s French parent.
Read MoreWaste group Cleanaway is reported to be on the verge of a major acquisition – believed to be the Australian operations of French operator, Suez.
Read MoreCleanaway Waste Management presented some key aspects of its Western Sydney energy from waste facility, expected to cost circa $700m and processing 500kt of waste. The facility will generate 55MW in power and reduce 390kpta of carbon emissions.
Read MoreReports of a board investigation into CEO Vik Bansal’s methods and the sale by the CEO of shares for the first time after five years with the company has triggered concerns, with the resultant shakedown in the share price, Credit Suisse observes.
Read MoreThe virus impact on Cleanaway Waste Management’s operations has largely netted out to flat, given falls in demand for collections in Commercial & Industrial, other than supermarkets, have been offset by increased residential collections. The company says it’s still on track to meet prior FY20 guidance but has withdrawn guidance nonetheless.
Read MoreA rare bit of good news for investors about one stock at least – The Perth based shipbuilder and defence contractor, Austal says it has been told by the US Navy it is performing “mission essential functions” and been urged to keep making ships.
Read MoreCleanaway Waste Management’s guidance to a flat first half is disappointing, Macquarie concedes, but not deserved of the subsequent -13% sell-off. The second half should see improvement thanks to price increases, cost reductions and hopefully, as the broker puts it, stable commodity prices.
Read MoreCiti initiates coverage on the Australian waste management sector, rating Cleanaway Waste Management a Buy with a $2.40 target.
Read MoreCleanaway Waste Management has ‘cleaned’ up by agreeing to buy the collapsed Victorian recycling assets of SKM for $66 million.
Read MoreWe continue to highlight the strong fundamentals underpinning CWY. We also like the defensive nature of its earnings/cashflow, as well as the largely vertically-integrated business model and balance sheet capacity.
Read MoreMorgans expects the company to deliver 8% growth in revenue and 15% growth in operating earnings (EBITDA) when the first half result is reported on February 14.
Read MoreThe annual report season is quickly followed by the annual sustainability report season and this year there seem to be more sustainability reports than usual.
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DOWNLOAD RESEARCH REPORTSecures binding contract with Tier-1 OEMUS based anode active project gathers momentumMagnis Energy Technologies (MNS.ASX) – MNS is planning an anode active facility in the US and recently announced a binding, yet conditional, contract for the supply of anode active with Tesla. The contract is for a minimum 17.5kt/year with an option to purchase another 17.5t/year. Conditions precedent carry a tight development timeframe, with first production scheduled for February 2025. Site selection is underway and co-locating with an OEM on a brownfields site makes sense. Long lead items have been ordered and detailed engineering and design is expected to commence soon. |
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December Quarterly Report: Q2 FY2023Looking past the rain – there’s a rainbow.TerraCom released their operating results for the December quarter FY2023 with operating metrics being in line with our forecasts. Unseasonal rains in both Australia and South Africa contributed to operational and logistical issues across all mines, however guidance for annual production at Blair Athol is unaffected and highlights the quality of TerraCom’s skills in operational management. We continue to like the stable operating metrics around the company’s Australian operations and see potential for the South African operations to benefit from increased management focus given the rationalisation of operations following the closure of the Ubuntu mine. Corporate Connects overall financials remain unchanged as does our target price of $1.35 share. We maintain our forecast for a fully franked quarterly dividend of 7.5c/share to be paid in the March and June quarters of FY2023. |
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DOWNLOAD RESEARCH REPORTHigh performance synthetic anode & cathode materials Building a US based materials supply chainNOVONIX (ASX:NVX) – is scaling a synthetic anode materials plant in the US and piloting nickel rich cathode material in Canada. Why? China is dominant and growing – 100% of global natural anode and 68% of synthetic anode is refined in China. In short, China controls the global midstream battery chain by controlling 60% of chemical refining, 87% of anode manufacturing, 61% of cathode manufacturing and 73% of battery manufacturing. It is global battery supply and price domination at scale. |
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DOWNLOAD RESEARCH REPORTAntisense Therapeutics (ANP) Taking a Quick Approach to Long COVIDThis report looks at the results of a collaborative study Antisense undertook which looked at the largest protein expression database in Long COVID-19 patients who experienced neurologic symptoms well after the primary or acute SARS-CoV-2 infection was considered over (Groups 1 & 2, with 48 subjects Group 2 comprising a single patient from a different clinical site). The symptoms and others experienced by such patients result in a highly significant amount of illness, possibly more than all primary SARS-CoV-2 infections i.e COVID-19. |
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DOWNLOAD RESEARCH REPORT4Q reveals more focus on profit and cash flow• LBY’s 4Q FY22 quarterly activities update showed continued solid growth in top line metrics, albeit slowing, with GMV of NZ$203m (+26% on pcp) and income of NZ$12.1m (+23% on pcp).
• Net Transaction Margin (NTM) disappointed at -0.5%, due to further increase in credit losses from 4.0% to 4.9% of GMV. However, new fraud and credit risk management tools have seen losses recover materially with NTM back to 1.2% in March and LBY is confident of further recovery in coming months.
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DOWNLOAD RESEARCH REPORTSigns MOU with Ford Company – Kachi is now sold out!Lake Resources (LKE. ASX) – LKE has signed two non-binding MOU’s in the space of 10 days. Ford Company (Ford) has signed an MOU for ~25,000t/year and last week Hanwa, a Japanese commodity trader signed a MOU for up to 25,000t/year. Subject to execution, this is an amazing feat as Ford and Hanwa are prepared to enter into longer-term strategic partnerships with LKE. Commercial negotiations are still ongoing but are expected, especially if Ford & Hanwa inject new equity into LKE, to further de-risk the project financing & thus ensure LKE and Kachi are fully funded. |
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DOWNLOAD RESEARCH REPORTStrategic Vanadium-battery growth with Titanium & Iron earnings resiliencyTNG Ltd is an ASX-listed technology owner and developer of the world-class Mount Peake near-surface vanadiferous titanomagnetite deposit. To unlock value, TNG will concentrate ore from its central Northern Territory mine for processing through its patented TIVAN® process produce three premium quality revenue streams: hi-purity vanadium pentoxide (V2O5) for steel alloys and Vanadium Redox Flow batteries, a quality titanium pigment for paints and a premium steel input with >64%Fe iron ore fines. |
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Promising exploration and development update while SOP prices continue to riseTwo recent gravity surveys have considerably exceeded expectations and revealed potential for extensions to the existing MRE at Lake Throssell, plus a material growth opportunity at Lake Yeo. This reinforces the potential for a multi-decade, Tier-1 SOP production hub based around Lake Throssell. TMG is currently completing work towards the PFS due early 2023, including drilling to start in Q3 2022, evaporation trials and permitting activities. Results from these programs will support the PFS and any future resource upgrade. Benchmark SOP prices have risen to ~US$940/t due to recent geopolitical developments. The Oct 2021 Scoping Study assumed a SOP price of US$550/t and contained a sensitivity analysis showing every 10% increase in price drives a +$144m increase in the project NPV of $364m. The c.70% increase above the Scoping Study thus implies a project NPV of ~$1.4bn. |
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DOWNLOAD RESEARCH REPORTIncreasing our TargetDespite the lower realised oil and gas price, which fell by 5.4% and 19.7% respectively in August, Calima managed to show improvement in its key business metrics. We expect higher production in November due to the contribution by the new Thorsby wells which will be drilled in August/September which will see Calima meet its 2021 production guidance of 4,500 boe/d. |
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DOWNLOAD RESEARCH REPORTEmerging Financial Wealth Advisory GroupWT Financial Group Limited (WTL) is a growing diversified financial services company, founded in 2010 and listed on the Australian Stock Exchange (ASX) in 2015. Its advice and product offerings are delivered primarily through a group of independent financial advisers operating as authorised representatives of WTL under its Wealth Today Pty Ltd (Wealth Today) and Sentry Group Pty Ltd (Sentry Group) dealer group operations. It has around 275 advisers across more than 200 financial advice practices Australia-wide. It also operates a direct-to-consumer operation under its Spring Financial Group brand. |
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DOWNLOAD RESEARCH REPORTImmutep Taking the Fight to CancerIn May 2021, Corporate Connect analyst Marc Sinatra published a comprehensive research report on ASX-listed biotech Immutep Ltd (ASX: IMM). So impressed was he with IMM that Corporate Connect felt it imperative that a follow-up report be released placing a valuation on the company, because the market was not seeing the vast potential of eftilagimod alpha (efti). This follow-up report has been released today. Using comparables, after adding cash back to their EV estimate and dividing by the total number of issued shares, Corporate Connect now places the fair value of an Immutep share at $A2.20. |
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DOWNLOAD RESEARCH REPORTMarket leading lifelong learning platform technology company in Australia and SE AsiaPayGroup (PYG) delivers multi-country BPO services and cloud SaaS HCM solutions, assisting companies to manage employees in multiple, complex jurisdictions. The company has many growth opportunities, including new clients, new jurisdictions, new products, partner expansion, and new revenue sources. PYG’s scalable business model allows operating leverage and with savings from in-housing third party technology, support margin expansion. |
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DOWNLOAD RESEARCH REPORTMarket leading lifelong learning platform technology company in Australia and SE AsiaOpenLearning (OLL) is a higher education technology company that operates a scalable online learning platform through a software-as-a-service (SaaS) business model and provides a global marketplace of high quality courses for learners of all levels. Its primary customers are education providers based in Australia and South-East Asia (primarily Malaysia). OLL started operations in Australia in 2012 and expanded to Malaysia in 2015, Singapore in 2018, and recently also Indonesia. |
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