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).
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Perenti Limited
Perenti Limited is a global, diversified mining services group which has grown into one of the largest mining services companies in the world that offers both surface and underground mining solutions at scale. The company has experience operating some of the biggest projects in the world while working with their clients to understand their requirements and deliver on their needs.
Perenti’s vision is to become the indispensable mining services company and to build positive and mutually productive relationships with our partners that deliver both enduring value and certainty for them.
With more than 30 years’ experience in surface and underground mining and a track record of delivering mining projects in challenging environments. Perenti’s experience includes multiple commodities ranging from gold to nickel and from iron ore to lithium.
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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).
WATCH VIDEOAll Perenti Limited Content
News
Perenti 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.
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Perenti 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.
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Mining 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.
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Ausdrill 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.
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Analyst Views
PRN – Macquarie rates the stock as Outperform
The Outperform rating is retained and the target price decreases to $1.00 from $1.10.
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PRN – 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.
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ASL – 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.
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