Recent contract wins and conservative pipeline assumptions underpin our medium-term revenue upgrades. We expect discipline in support of new and potential pipeline projects and for the return on deployed capital to exceed its cost despite emerging mining sector cost pressures and potential currency risk. Valuation upside underpins our BUY call. To access the full reportRead more
Alberta’s coal policy schemozzle sets Atrum back a year or two. To access the full report please log in under the Client Area at the bottom of this page. Argonaut’s Client Area allows you to view delayed share prices, access Argonaut’s wealth of Research as well as create custom portfolios and set up company watchRead more
Exposure to US and Australian naval defence spending, upcoming investment to grow capability and sustainment earnings, and a strong cash position are key positives. Although we pencil in a medium-term dip in US revenue, we think this will be a temporary and manageable lull between ship programmes. Our valuation of $3.35 (prior $3.85) reflects theRead more
The share price drop provides investors an attractive opportunity to invest in a business positioned to grow. We expect disciplined management of capital in converting new work opportunities during growth periods and strong free cash flow at steady state. Guidance has consistently been met, although currency movements pose a risk. We maintain a BUY callRead more
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BOT announced positive results from its BTX 1801 Phase 2a nasal decolonisation proof of concept study. We upgrade to SPEC BUY (prior HOLD) as these results highlight CBD’s potential as a new treatment for resistant bacteria. To access the full report please log in under the Client Area at the bottom of this page. Argonaut’sRead more
Key News Overnight: Spot gold dipped 1.8% to US$1,837/oz, its lowest since July 21 at US$1,835/oz. U.S. gold futures shed 2% to $1,835.50. The Dow Jones Industrial Average rose 328 points, or 1.1%, to 29,591, the S&P 500 gained 20 points, or 0.6%, to 3,578 and the Nasdaq Composite added 26 points, or 0.2%, toRead more
Key News Overnight: Spot gold fell 0.5% to US$1,900/oz. U.S. gold futures settled 0.1% lower at US$1,906/oz. The Dow Jones Industrial Average rose 112 points, or 0.4%, to 28,606, the S&P 500 gained 0.5 points, or 0.01%, to 3,484 and the Nasdaq Composite dropped 42, or 0.4%, to 11,672. In This Issue: Salt Lake PotashRead more
Gold in A$ terms is up 22% since the start of the calendar year, and 45% since January 2019, and some clear margins are opening up between revenue and total outlays for most gold companies. In this report we forecast net cash and bullion movements for the September 2020 quarter using production and cost estimates,Read more
