Australasian Equities

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Australasian Equities

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Speculative

high

Record Results Shares in Gold Road Resources’ (ASX:GOR) surged after posting FY23 results and receiving a number of upgrades from various brokers. Results broadly aligned with expectations, highlighting that the sell-off in early 2024 has been overdone. The valuation is appealing at current levels. Turning to the charts, the upward dynamic by Gold Road off the primary uptrend and key historic support at the $1.30 level is very encouraging. The pattern of holding primary support is long established with Gold Road. Each

Suncorp (ASX:SUN)

Core

medium

Weather the Storm(s) Suncorp (ASX:SUN) has just issued an update on the ex-Tropical Cyclone Kirrily as well as can overview of key metrics for 1H24. So far, the total cost of natural hazard events for 1H24 is expected to be $568 million, driven by six significant events, including rain, storms, hail, cyclones, and holiday-related storms. Despite the challenges, Suncorp anticipates strong top-line growth in the general insurance businesses for 1H24, with underlying margins expected to be within the 10% to 12%

Allkem (ASX:AKE)

Speculative

high

From Agreements to Merger Controversy Shares in Allkem (ASX:AKE) continue to trend higher and not just the strong rebound in lithium carbonate prices at the Guangzhou Futures Exchange especially with comments at the 2023 United Nations Climate Change Conference (COP28) hint at a major change. But today, our focus is largely on the ‘micro’ side with key updates coming from Allkem (ASX:AKE). Before diving in on the updates, we turn our attention to the technicals and the decline in Allkem this year

Incitec Pivot (ASX:IPL)

Core

medium

Explosive Potential? Shares in Incitec Pivot (ASX:IPL) rallied after naming a new CEO, ex-BHP exec Mauro Neves de Moraes and he will assume the role from January 22. This unconventional appointment may spell an interesting ‘pivot’ in how IPL will navigate their business post the sale of the fertiliser business. As the coverage was fairly recent, there hasn’t been any change with the technicals. That said, a quick recap: Since breaking down below the primary uptrend, IPL has fallen to $2.70

Collins Foods (ASX:CKF)

Core

medium

It’s Still Finger Lickin’ Good! Shares in KFC and Taco Bell master franchise Collins Foods (ASX:CKF) soared following strong 1H24 results across all businesses. A quick look at the results and revenues and underlying EBITDA were up I the double-digits with a big jump in same store sales across Australia and Europe that caught the market’s eye. More importantly, it wasn’t just KFC that grew, but Taco Bell also looks to have turned a corner. Clearly the KFC and Taco

Newmont (prev. Newcrest Mining) (ASX:NEM)

Speculative

high

Strong Results & Improved Outlook Colorado-based gold miner Newmont (ASX:NEM) finally debuted on the ASX following the acquisition of Newcrest – where the latter has finally retired from the ASX. The dual-listed shares ended the first trading day at $59.50 under the ticker NEM. Looking at underlying asset, the case for gold continues to strengthen (even outperforming S&P500) with demand for hedging and safety amid the war in Israel pushes the metal higher. A recap on the merger, Newcrest shareholders received 0.40

Paladin Energy (ASX:PDN)

Speculative

high

Limbering up, ready to join the game Paladin Energy (ASX:PDN) shares have pulled back from recent highs, but both the macro and company-specific drivers remain favourable, with the scope for Paladin shares to trade a leg higher. The Langer Heinrich Mine reopening, slated for the first quarter of 2024, is a key milestone looming, and our medium-term outlook for uranium continues to be bullish, with this a key swing factor for Paladin. Since our initiation on Paladin in mid-August, uranium prices have

Allkem (ASX: AKE)

Speculative

high

Olaroz Stage 2 commissioning Allkem (ASX: AKE) has updated the market on the progress of its Stage 2 capacity upgrade at its Olaroz lithium operations (Allkem’s interest 66.6%), together with updates on other projects. Increased mineral resources estimates were a key feature, lifting Allkem’s total group resources to 40 million tonnes of lithium carbonate equivalent (LCE). The improved mineral resource will support Allkem’s planned increased capacity for many years. The following image shows Allkem’s global asset base: Source: Allkem (ASX: AKE) Our hold

About these archived stock reports

These are archived Fat Prophets equity research stock reports and share analysis. They do not constitute current investment advice, financial product advice, or a recommendation to buy, sell or hold any financial product. They are provided for historical reference only, and reflect the market conditions, company information, forecasts and opinions available at its original publication date. The information may no longer be current or applicable. Past performance is not a reliable indicator of future performance.

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