Hot Stocks: Midway, BluGlass, Minbos Resources
A snapshot of the stocks on the move, featuring Midway (ASX:MWY), BluGlass (ASX:BLG) and Minbos Resources (ASX:MNB).
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MWY – Morgans rates the stock as Hold
First-half results were in line with forecasts, albeit weak. A material reduction in earnings reflected a significant fall in wood fibre export shipments because of the excess production of paper pulp in Brazil and US tariffs on Chinese paper imports.
Read MoreForestry Play Midway Felled After “Particularly Disappointing” Downgrade
Shares in forestry company Midway plunged 21% yesterday to an all-time low of $1.81 after it issued a sharp earnings downgrade at its annual general meeting.
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