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, energy and agri-business sectors. Argonaut has an established track record of creating significant wealth for clients.

Morning Notes

Stocks rebounded from recent declines intraday, as upbeat data pointed to the strength of the U.S. economy. The Dow Jones Industrial Average added 179 points, or 0.9%, to 20731 intraday, buoyed by gains in shares of financial, industrial and energy companies. The S&P 500 rose 0.9% and the Nasdaq Composite added 0.8%. Major indexes wavered shortly after the opening bell, then climbed steadily following data that showed the U.S. consumer on solid footing. A measure of consumer confidence grew in March to its highest level in 16 years, the Conference Board said. U.S. home prices also rose in January at their fastest pace in 31 months, according to the S&P CoreLogic Case-Shiller Indices, spurred in part by a pickup in job growth. The S&P 500 is still up about 10% since Election Day despite declining in recent sessions. The U.S. gold price finished lower by 0.2% at 1,251.30 US$/oz.

More >

Latest Research

TOX has lost out on a longer-term waste services contract on Barrow Island (despite being the incumbent). The $1-2m earnings impact is not material in our view, however our FY18 EBITDA forecast falls by more than this as we build in further conservatism. TOX has done well to diversify the business over the last few years, however we believe investors would welcome an acquisition holiday so as to see a clean run-rate and evidence of organic growth. Our valuation falls to $2.50 (prior $2.60), however we maintain a buy call on a longer term view of the growth potential in an attractive industry.

More >

Latest News

Argonaut as Co-Manager has been successful in raising of A$55 million for Gascoyne Resources Limited (ASX: GCY) (“Gascoyne”) to domestic and international institutional and professional investors via a placement and share purchase plan of 110 million new ordinary shares at an issue price of A$0.50 per share, with Hartleys Limited.

More >