ASX surges 1.66% on strong performance from gold miners
13 Jul 2023 – At the closing bell, the S&P/ASX 200 was 1.66 per cent or 118.50 points higher at 7,254.20, marking its third consecutive day of gains.
Read More13 Jul 2023 – At the closing bell, the S&P/ASX 200 was 1.66 per cent or 118.50 points higher at 7,254.20, marking its third consecutive day of gains.
Read More13 Jul 2023 – At noon, gold miners experienced a significant surge in value as traders revised their expectations for risk-free rates due to cooling US inflation and a decline in bond yields.
Read More13 Jul 2023 – A snapshot of the stocks on the move, featuring Alliance Aviation (ASX:AQZ), Vulcan Energy Resources (ASX:VUL) and Cirrus Networks Holdings (ASX:CNW).
Read MoreThe Outperform rating is retained and the target price decreases to $4.80 from $5.30.
Read MoreAlliance Aviation is thriving and contracted revenue is expected to grow over the next couple of years as an expanded fleet is deployed. Eva Brocklehurst tells us more.
Read MoreAlliance Aviation Services’ interim result shows rapidly improving unit economics, excellent cash conversion and increasingly simpler accounts, assesses Credit Suisse. The Outperform rating is unchanged and the target increased to $5.40 from $5.10.
Read MoreAlliance Aviation will acquire a further 16 Embraer E190 aircraft for $85m, expanding the company’s fleet to 73 aircraft (from 57), once fully deployed in FY23. Morgans calculates the acquisition has been completed at an attractive earnings (EBITDA) multiple. Target price is $5.00.
Read MoreAlliance Aviation Services posted a FY20 profit (NPBT) figure of $40.7m that was in-line with recent guidance and consensus. Morgans points to extremely strong trends in 2H20 for aircraft utilisation and company outlook comments for earnings growth in FY21 that were above the broker’s expectations.
Read MoreCredit Suisse observes Alliance Aviation enters FY21 with a fully utilised fleet and no indication that the trends from the fourth quarter are moderating. FIFO markets are strong and end commodity exposures favourable.
Read MoreThe interim result was solid, in Credit Suisse’s view, although an accelerated maintenance schedule prevented a meaningful improvement.
Read MoreThe broker sees tailwinds ahead in further contract rollovers and asset expansion and the development of FIFO and Wet Lease opportunities.
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