After the news from RIO on securing power supply for its giant copper mine extension in Mongolia, the lithium stocks went up, and some others also joined the league amid the falling markets on the Chinese slowdown. However, ASX is poised to start the year fresh and on a positive note. Four most talked about stocks to start the year are the following.
GALAXY RESOURCES LIMITED (ASX: GXY) – The company provides an update on the latest Sal de Vida Project’s progress. This update has set the tone for Galaxy, and the stock is seeing some positive movement. To maximize financial returns and minimize execution risks, these activities are focused on the Front-End Engineering Design and optimization phase. The company’s zero debt and solid cash flow from Mt Cattlin reinsures the existing strong financial position, allows for a complete price discovery process and market testing. The Galaxy shares are up 0.922% and are trading at $2.190. It is close to its 52-week low. [optin-monster-shortcode id=”swikrbu1d9j9aq0o4cko”]
ALTURA MINING LIMITED (ASX: AJM) – Over a long period the company is successfully producing a good quality concentrate of lithium. The company has a binding offtake agreement with GFL International Co. Limited which is a leading global battery materials producer. With a CAGR of 2.8% and 4.8% respectively between 2017 and 2022 Lithium demand is expected to rise at a slower but steady rate. The AJM shares are trading at 7.143% higher and stands at $0.150 which is near its 52-week low. The company over the five years has had a performance change of 10.17%. The negative EPS of -0.007 AUD shows a slight restraint in profitability.
STARPHARMA HOLDINGS LIMITED (ASX: SPL) – The VivaGel® condom is now able to be marketed in Japan after it has received its last regulatory approval, and after the completion of the Japanese Pharmaceuticals and Medical Devices Agency. It is also ready for sale in Canada and Australia. Starpharma works with its commercial partner Okamoto Industries. The sales revenue of Okamota is higher than US$ 1.1 billion. The share price is trading at 10.549% lower and stands at $1.060. The company over the five years has had a performance change of 36.99%. The negative EPS of -0.028 AUD shows a slight restraint in the profitability. The market cap at current price is $7.57 billion.
THE A2 MILK COMPANY LIMITED (ASX: A2M) – The company’s business is supported in Europe and the UK in a limited executive role CEO called on David from time to time, until at least the end of the current financial year the Board considers that David should retain his status. The stock has a significantly high P/E of 41.680 and EPS of 0.248 AUD. FY18 was an essential year in continuing the transformative dynamic of this great company the A2 Milk company’s financial results are impressive. Group’s revenue of $922.7 million is a 68% increase over prior year. EBITDA of $283.0 million is double the previous year which resulted in Net Profit after tax of $195.7 million up 116% on the prior year. The stock traded at a market price of $10.400 as at Jan 02, 2019.
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