Joshua Cooper

Evolution Mining: Gets green signal to extend Cowal gold operations

Evolution Mining (ASX: EVN) secured regulatory approval from New South Wales Department of Planning, Housing and Infrastructure on December 10, 2024, to extend its Cowal gold operations until 2042. The approval permits the continuation of open-pit mining at Cowal, the expansion of the E42 pit, and the creation of three additional open pits. Ore processing at the site will proceed at annual rate of up to 9.8mn tonnes. The stock has reacted positively to the news, rising around 5% on the same day.

December 17, 2024 at 02:57 pm

Stock soars on robust 3Q results

Kingsoft delivered solid 3QFY24 results, revenue grew 42% YoY, while net profit jumped 14x YoY, following which brokerage firm Nomura raised its target price to HKD35 from HKD26, depicting an upward revision of over 34%. The revision by Nomura on November 20, 2024, also coincides with the news of the company’s non-wholly owned subsidiary, Kingsoft Office Software (KOSC) entering into an Advertisement Service Agreement with Xiaomi Singapore. These positive developments fired the stock to increase over 9% on November 20 and was up over 16% post earning. Over the last one year, the stock delivered returns of 36%, and 40% on YTD basis.

December 16, 2024 at 05:07 pm

MonotaRO Co., Ltd. : Aggressive sales strategy resulted in revenue expansion

MonotaRO Co., Ltd. (TYO:3064) reported a 14% YoY increase in sales for November, reaching nearly JPY24bn. The company's monthly sales data showed a consistent upward trend, with YoY growth recorded for each of the first eleven months of 2024. However, customer acquisition declined in November, with 88,600 new accounts compared to 98,100 in October. This sales growth is a continuation of the company’s aggressive expansion strategy, as reflected in its recently reported 9MFY24 results. Net sales increased by 13% YoY to JPY211.5bn, bolstered by the performance of its Korean subsidiary, NAVIMRO, which saw over a 10% YoY increase in sales to JPY7.3bn, driven by strong enterprise business performance. The Indonesian business also showed impressive growth, with sales rising by 32.5% YoY to JPY920mn during the same period. Operating income surged 18% YoY to JPY27.0bn, while net income attributable to owners of the parent grew 16.8% YoY to JPY18.9bn. The stock reacted positively to the earnings report, rising over 7% the next day and up more than 22% since the earnings.

December 12, 2024 at 04:59 pm

Voltas Limited : Jefferies raises target price by 15% to INR2,030

Jefferies maintained their “Buy” rating and raised the target price for Voltas Ltd. (Voltas) to INR2,030 from INR1,770 on 31st October 2024, implying a 15% upside potential over previous day’s close. The increase in the target price was driven by Voltas strong performance in 1H25 and managements positive comments on increasing market share and volumes. Jefferies expects India’s domestic AC market to grow strongly his year, which should help Voltas as they are the market leaders in Unitary Cooling Products (UCP) with a 21% market share. Jefferies also sees India’s capex cycle recovering gradually, which should help drive Voltas’ order book.

December 09, 2024 at 03:16 pm

NMDC Limited : Contract award of over USD300mn from Ta’ziz

NMDC has received a letter of award of over USD300mn from Ta’ziz (JV between Abu Dhabi National Oil Co. and Abu Dhabi Developmental Holding) on November 6, 2024. The award pertains to engineering, procurement and construction (EPC) work for the Port Package logistic project. The project is expected to be completed within the next 25 months.

December 06, 2024 at 03:14 pm

Samvardhana Motherson International Limited : CLSA upgrades to Outperform and raises target price

On November 13, 2024, CLSA upgraded its rating on SAMIL to Outperform, with a new target price of INR190, implying an upside potential of 14%. CLSA is looking beyond the 2Q25 results that missed market expectations, which they attribute to the weak OEM demand scenario and recent acquisitions that are not yet baked into the numbers. They also see the recently de-levered balance sheet as a tailwind to future growth through acquisitions, and diversification efforts of management.

December 03, 2024 at 05:27 pm