Stocks of the Hour: Perenti, NOVONIX, 88 Energy
A snapshot of the stocks on the move, featuring Perenti (ASX:PRN), NOVONIX (ASX:NVX) and 88 Energy (ASX:88E).
Read MoreTag: PRN
PRN – Macquarie rates the stock as Outperform
The Outperform rating is retained and the target price decreases to $1.00 from $1.10.
Read MorePerenti Global Supported By Metals Exploration
Concerns over the balance sheet and work in hand atPerenti Global have dissipated, with the company’s update supporting a robust outlook.
Read MorePerenti Shares Punished Despite Return Of Dividend
Investors took fright yesterday at what was a solid update from mining services company Perenti even though it reinstated earlier guidance lower than previous forecasts.
Read MorePRN – UBS rates the stock as Buy
The company has reduced FY20 net profit guidance to around $115-120m from $140m. This represents a -14-17% downgrade to prior UBS estimates.
Read MoreMining Services Companies Follow The Major Miners
A collection of mining services companies beginning to experience some attractive breakouts that point to these flow-on affects from mining activity translating to a sustained increase in earnings.
Read MoreAusdrill Shares Hit After Impairment Warning
Shares in Ausdrill, the mining services, and drilling contractor slid more than 7% yesterday after the company surprised with an impairment warning in an afternoon announcement.
Read MoreASL – Deutsche Bank rates the stock as Buy
Ausdrill has announced a three-year extension of the equipment hire contract with Peabody at $126m. Deutsche Bank suspects there was likely to be a marginal price increase to reflect tighter equipment availability and potentially better terms.
Read MoreBega Taps Market For Fresh Capital
Bega Cheese shares went into a trading halt yesterday to allow for a $200 million fundraising, while Ausdrill revealed it had got better than expected support from shareholders in its $75 million retail offer.
Read MoreAusdrill Shares Jump On Barminco Takeover Deal
Ausdrill share jumped more than 9% to $1.73 yesterday after directors recommended shareholders give the greenlight to a near $300 million acquisition from the founder of the company.
Read MoreAusdrill Craters On Lithium Contract Update
Shares in mining services group, Ausdrill plunged yesterday, wiping more than a quarter of their value at one stage after the company revealed doubt about the value of two key contracts.
Read MoreMarket Cautious On Ausdrill Losses
Despite some nasty red ink, directors of Ausdrill (ASL) have attempted to keep faith with investors by declaring a one cent a share interim dividend for the six months to December.
Read MoreAusdrill’s Bad News Continues
More bad news from Ausdrill (ASL) about its revenue saw the share price under pressure again yesterday.
Read MoreAusdrill Joins The Mining Write Down Queue
Yet another mining services company has sprung an earnings downgrade on the market, and seen its shares tank.
Read MoreAusdrill Shares Slapped After Another Downgrade
As expected, shares in Ausdrill (ASL) were pounded yesterday after it produced up to $90 million of write-downs and losses that the company warned were coming in a statement to the ASX late last week.
Read MoreAusdrill Strikes Trouble In Africa
And finally, miles away from retailing, but still in a tough sector – mining services – contract driller and services group Ausdrill (ASL) produced a surprise profit warning yesterday and the shares slumped.
Read MoreAusdrill Trounced
The market in Ausdrill (ASL) shares wasn’t pretty yesterday – in fact it would be correct to describe it as rather battered – down more than 28% at the close, after an earnings guidance update that was worse than even the most pessimistic pessimists have figured.
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