Bargains For The Brave In The Mining Services Sector
The New Criterion’s Tim Boreham highlights several mining services contractors, large and small, and their potential at this time.
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News
Emeco Hammered Despite Return To Profitability
Investors took the long handle to a couple of stocks yesterday - vitamins group Blackmore’s was one; heavy equipment hirer, Emeco Holdings was another despite producing a $12 million profit for the six months to December.
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Consolidation Plans Fuel Emeco Rebound
Emeco Holdings shares rose nicely yesterday after the company’s notice of annual meeting revealed a plan for a one for 10 consolidation of shares to improve their marketability.
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Emeco Turnaround Fails To Inspire Investors
A bit of a thumbs down from investors for Emeco Holdings, the heavy equipment rental group, despite the update showing a rise in earnings.
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Emeco Rebuffs Sale Speculation
Shares in mining equipment supplier Emeco Holdings were dumped yesterday afternoon after it rejected suggestions it might be sitting on an unknown bid.
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Analyst Views
EHL – Macquarie rates the stock as Outperform
The latest updates from the Australian mining services sector indicate production-related activities domestically have seen little virus impact while internationally is mixed, the broker notes.
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EHL – Macquarie rates the stock as Outperform
The latest updates from the Australian mining services sector indicate production-related activities domestically have seen little virus impact while internationally is mixed, the broker notes. Exploration and non-essential activities are nonetheless more likely to be curtailed. But in particular, iron ore and gold operations in WA are noted as being very strong.
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EHL – Morgans rates the stock as Add
First-half results were pre-released and the main new item in the financials was the growth guidance from the PnP acquisition. This contributes to a lift in Morgans' FY20-22 operating earnings estimates of 3-10%.
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EHL – Morgans rates the stock as Add
The company has announced it will acquire Matilda Equipment for $80m. Matilda is a niche rental supplier of ancillary mining equipment, comprising mostly new model dozers and civil/services vehicles.
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EHL – Morgans rates the stock as Add
Morgans observes the completion of contract mining operations (lower margin) was the driver for increased profitability in the second quarter. Operating earnings were up 15%, at a margin of 43% versus a margin of 35% in the first quarter.
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