SPDR Resource Fund
SPDR S&P/ASX 200 Resources is under Algo Engine buy conditions. The ETF has increased by 9.1% since being added into our “All ETF” model on 21 June.
Vanguard ETF – Buy
Vanguard MSCI Index International Shares (Hedged) is now under Algo Engine buy conditions.
Pexa – Accumulate
Pexa Group has helped transform conveyancing from a clunky paper-based process into a digital one. PXA was recently listed on the ASX with a market cap of $3bn.
FY21 underlying earnings are expected to double to $108 million, before rising a further 20% in FY22.
CBA & Link are major shareholders.
Macquarie Group – Buy Signal
Macquarie Group is now under Algo Engine buy conditions following the recent price retracement from $162 down to $148.
We see further upside for the Macquarie share price and the stock remains our preferred sector allocation.
Link – Algo Buy
Link Administration Holdings is now under Algo Engine buy conditions and we view $4.80 as an attractive price to begin accumulating the stock.
Call Options Jump 40%
Following a better 1H21 earnings result for CIMIC, the Dec $20 call options increased 40%.
We continue to see CIMIC as a recovery opportunity, supported by an improving balance sheet and increasing work in hand.
Northern Star – Strong Production
Northern Star Resources is under Algo Engine buy conditions and is our preferred gold exposure.
NST continues to deliver strong results in the June quarter. Group production finished with 450koz at $1460oz, (up 23%), whilst seeing costs come down almost 10%.
We continue to see the twin factors of a strong gold price and cost-saving, (post-merger with SAR), helping to support the share price.
Buy NST
Evolution – Capital Raising
The $400 million placement was at $3.85. The funds raised were to acquire Kundana Gold in Western Australia’s Kalgoorlie region and associated projects from Northern Star.
Beach Energy
Beach Energy reported quarterly production which was below estimates but reiterated EBITDA guidance for the year to be at the top end of A$850-$900 million range.
Company growth projects remain on track and should see added shareholder value in FY22 and FY23.
Ramsay Healthcare
Spire shareholders reject acquisition by Ramsay, with 69.9% of votes in favour, thus falling short of the minimum 75% threshold required for the transaction to complete.
Ramsay FY22 revenue is forecast to be $14bn, EBITDA up 8% to $2.3bn, supporting a forward yield of 2.4%.
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