Gold Stocks A Beacon In The Dark
Gold equities have suffered from the liquidity-driven global sell-off over recent weeks but several brokers suggest the outlook is much brighter, as flight-to-safety concerns take over.
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MinRex Resources is Actively Exploring Just a Few Kilometers from $1.1 BN Silver Lake Resources
Gold explorer MinRex Resources (ASX: MRR), which holds ground just a few kilometres to the north-east of the $1.2 billion capped Silver Lake Resources Ltd’s (ASX: SLR) gold and copper Deflector Mine, is set to release new exploration results at its Deflector Extended Gold Project at Gullewa in Western Australia.
Read MoreMore Retail Pain As Myer Leads Slew Of Shutdowns
More retailers have closed their doors to limit the impact of the COVID-19 virus. Myer is standing down 10,000 staff straight away, Kathmandu is closing 170 outlets while South African controlled – David Jones is shutting 280 of its fashion brand stores including Country Road, Witchery, Mimco, and Politix.
Read MoreSouth32, Woodside, ALS All Batten Down The Hatches
Woodside Petroleum is bracing for “unprecedented circumstances”, global testing giant ALS is marshaling its financial forces to survive the impact of COVID-19 while South32 plans slash capital expenditure and has suspended its on-market buyback.
Read MoreSingapore Inc Steps Up To Save National Carrier
Singapore Inc has come to the party and bailed out the nation state’s global flag carrier, Singapore Airlines in a $S19 billion refinancing that will stop the crippled airline from imploding.
Read MoreChalice Gold Mines Shines On Julimar Strike
First drill-hole at Julimar Project in WA intersects outstanding intercept comprising 19m @ 2.59% nickel, 1.04% copper, 8.37g/t palladium and 1.11g/t platinum from 48m in fresh rock.
Read MoreDNR Capital Assesses The Impact Of COVID-19 On Australian Small Cap Equities
Capturing the outstanding long-term opportunities will require staying calm and committed to your investment process.
Read MoreMaterial Matters: Copper, Lithium & Closures
A glance through the latest expert views and predictions about commodities. Base metals; cost curves; lithium; and mine closures.
Read MoreThe BNPL Sector Faces Its Sternest Test
The New Criterion’s Tim Boreham assesses what the virus and lockdown mean for Afterpay and other listed buy now, pay later companies.
Read MoreoOh!media In $167m Equity Raising At Deep Discount
oOh! Media (OML) is tapping shareholders with a deeply discounted placement to raise $167 million that will dilute existing holders stakes in the troubled outdoor media group.
Read MoreUncertainty Reigns As AMP, Northern Star Withdraw Guidance
AMP shares bounced and those of gold miner, North Star resources slid yesterday after both withdrew their 2020 guidance.
Read MoreBrickworks, Soul Patts Hang Tough On Dividends Despite Headwinds
While coronavirus uncertainty has seen Brickworks join the long list of companies dropping guidance, the interim payout was boosted. Parent Soul Patts has also lifted its interim dividend by a cent to 25 cents a share, despite a 33% fall in NPAT.
Read MoreBanks In Better Shape For Virus Than For GFC
Analysts argue Australia’s banks are in a much better position to weather this storm than they were in 2008, and have been oversold on that basis.
Read MoreFletcher Building Cancels Dividend, Buyback, Guidance
NZ-based Fletcher Building has cancelled its dividend, suspended its buyback and withdrawn its 2019-20 earnings guidance.
Read MoreEarnings News: Nufarm, Sigma, New Hope Coal
Three results including two from yesterday – from Nufarm and Sigma Healthcare – confirm that the figures are historical and useless for assessing the company’s outlook for the rest of the year and into 2021 in the wake of the impact of COVID-19.
Read MoreMosaic & Star Stand Down Staff, Wesfarmers Shutters Kmart NZ
Major women’s fashionwear retailer Mosaic Brands has become the latest chain operator to shut stores and stand down staff indefinitely. Casino operator, Star Group has also stood down around 90% of its staff of 9,000 while Wesfarmers has shut its Kmart stores in New Zealand as the coronavirus outbreak continues to escalate.
Read MoreQantas Shares Rebound On Debt Deal As Virgin Grounds Tiger
In stark contrast to Cochlear’s fund raising, Qantas said on Wednesday that it had borrowed $1.05 billion in new debt to help see it through the coronavirus crisis.
Read MoreCochlear Taps Investors To Battle Virus Turmoil
Hearing implant maker Cochlear has become the first major company to ask shareholders for more cash to bulk up its balance sheet against the expected ravages of the COVID-19 virus.
Read More“Escalating Uncertainty” Sees Seven West Withdraw Guidance
Seven West Media joined the growing list of casualties on Tuesday morning, withdrawing its 2019-20 earnings guidance. The withdrawal came a day after the shares closed at an all-time low of just 6.6%, much of that fall due to the company’s high debt and worsening trading over the last two years.
Read MoreGood News Shorts: Austal Builds On, Cleanaway Confirms Dividend
A 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 MoreVirus Damage: Michael Hill Closes, Woolies Postpones Drinks Demerger, Retail Food Drops Guidance
Jewelry chain, Michael Hill has become the first major Australian retailer to close its doors in light of the coronavirus pandemic, meaning the jobs of thousands of workers are at risk. Meanwhile, Woolworths has postponed its drinks demerger, Retail Food Group has dropped its guidance as has Shaver Shop.
Read MoreHelloworld Farewells Staff As Flight Centre Cancels Dividend
The travel sector is now a wasteland as the COVID-19 virus continues to wreak havoc across here and across the globe. Helloworld will make 275 staff redundant and temporarily stand down 1300 more workers while Flight Centre has cancelled $40.1 million worth of interim dividend payments.
Read MoreJB Hi-Fi, Reject Shop Enjoy Temporary Sales Surge
A fool’s paradise? More reports of strong sales growth from major retailers and yet investors ignored that and sold off shares yesterday’s big slump.
Read MoreRex Grounds All Flights Without Government Support
Regional Express (Rex) says it will shut down its Regular Public Transport (RPT) air services in all States, except in Queensland from April 6 unless state and federal governments come to the party and underwrite the losses on these services.
Read MoreVirus Infects Already Fragile Media Sector
Stand by for a bailout of the Australian media sector. A decision on whether a recapitalisation will happen at oOh!media is due to be known today while shares of national radio and regional TV group, Southern Cross Media have collapsed.
Read MoreMore Companies Shutdown Guidance In Wake Of New Restrictions
More and more companies are battening down the hatches as the coronavirus banks and crackdowns escalate. Property developer Stockland, gambling and gaming giant Tabcorp, and health insurance firm NIB are among the latest to mothball earnings guidance while Ardent Leisure and Village Roadshow have shut their Gold Coast theme parks.
Read MorePositive Call As Telstra Upholds Guidance
Brokers welcome Telstra’s initiatives to support the community in the current crisis, as the telco becomes one of the few listed stocks to simply downgrade guidance rather than withdraw it altogether.
Read MoreGood And Bad News For Value Investors
Despite the prevalence of bad news stories and a sea of red across stock screens, Perpetual’s Anthony Aboud argues it’s not all bad news.
Read MoreTighter Travel Restrictions Inflict More Pain On Airlines
Don’t be surprised if trading in the shares of Qantas and Virgin Australia is suspended after the federal government warned against non-essential interstate travel and the states tightened their borders to stop the spread of coronavirus.
Read MoreBattered Flight Centre, Webjet, oOH!media Await Bailout
A big test for the market and investment confidence this week with news expected on whether there will be coronavirus-driven rescue/recaps of Webjet, Flight Centre and oOH!media.
Read MoreNordgold Makes Bid For Cardinal Resources
Nord Gold SE acquires a 19.9% stake in CDV and also lodges a non‐binding indicative and conditional takeover proposal for CDV, priced at $0.45775 per share.
Read MoreKrakatoa May Explode In Cadia’s Shadow
A geological “stone’s throw” from Cadia Valley, under-the-radar micro-cap Krakatoa Resources is steaming ahead in its hunt for porphyry copper/gold systems in the prolific Lachlan Fold belt in NSW.
Read MoreVirus Havoc: Myer Slumps, Nine & Bluescope Drop Guidance, Afterpay Under Siege
Shares in troubled department store Myer plunged by more the 44% yesterday for no apparent reason.
Read MoreWith Borders Closed Travel Stocks Are In An Absolute Crisis
The crisis in the travel and aviation sector worsened yesterday with the Federal government banning all foreigners from entering Australia from midnight tonight and again told Australians returning from overseas that they will have to undergo 14 days of quarantine.
Read MoreShort-Term Impact Likely On Ramsay Health
While the impact of the pandemic on Ramsay Health Care’s hospital income is uncertain most brokers agree, for the longer term, the hospitals are quality assets, catering to the demands of an ageing population.
Read MoreCould Coronavirus Benefit Sonic Healthcare?
The share price of Sonic Healthcare (ASX:SHL) has not been immune to the recent market sell-off. However, they have outperformed the S&P/ASX 200 Index as well as the S&P/ASX Healthcare over the past three weeks.
Read MoreEarly Data Shows Panic Buying Turning Around Retail Sales
Investors have paid no heed to partial figures from the ABS yesterday showing a 0.4% rise in seasonally adjusted retail sales in February. The rise came from the supermarket sector as other parts of retail, particularly associated with tourism or hospitality, are likely to plummet.
Read MoreVirus Turmoil: Oil Search, Flight Centre, Qantas, Kathmandu, REA Group, Ramsay Health, Aristocrat
Yesterday saw a host of downgrades and other poor news from ASX companies of all sizes – all understandable in the current terrible investment climate as the combination of the coronavirus pandemic and the idiotic price war in oil between Russia and Saudi Arabia wreck market confidence and share price.
Read MoreLong-Term Opportunity In Altium
Altium may have slightly lowered FY20 guidance but brokers are confident there is a long-term opportunity in the stock, and the valuation is attractive.
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