Argonaut | The Natural Choice in Resources
Argonaut is a full service advisory, stockbroking & research and investment house with offices in Perth and Hong Kong. Argonaut is technically driven & focused on natural resource companies & businesses that service the metals, mining and energy sectors. Argonaut has an established track record of creating significant wealth for clients.
US stocks extended losses for the fourth day as investors weighed the outlook for the Federal Reserve to start paring stimulus efforts this month after a raft of economic reports. The S&P 500 fell 0.1% to 1,792.8 after a fluctuating day’s trading, initially rising as much as 0.3% and declining 0.9% at its lowest. The Dow Jones Industrial Average dropped 24.9 points, or 0.2%, to 15,889.8.More >
A sharp fall in SXE’s share price (58% since the end of September), combined with negative commentary from key client Rio Tinto and a lack of contract news flow has prompted us to revise downwards our forecasts. We stress that downgrades to our assumptions are driven by macro headwinds rather than internal issues and we maintain our view that SXE is a well-run business with a solid balance sheet a good track record. We retain our Hold call and reduce our target price to $0.80 from $1.05.More >
Argonaut has been successful in the Placement of A$53 million (before issue costs) for Sino Gas & Energy Holdings Limited (ASX: SEH) (“Sino Gas”) via a two tranche Placement of 265 million new ordinary shares at an issue price of A$0.20 per share, together with joint lead manager, Euroz Securities. Argonaut congratulates Sino Gas on raising $53m. This is a tremendous milestone for the Company.More >