3 Stocks Under Limelight - RAC, VLT and PRX

  • Oct 30, 2018 AEDT
  • Team Kalkine
3 Stocks Under Limelight - RAC, VLT and PRX

After the index was up to deliver its biggest one-day gain since July 2017 from a 36-point loss at the open, Australian shares rallied to reach at a level of 5805.1 on ASX index. Three stocks from different sectors which came under the limelight today are discussed herein and can be used to diversify an investor’s portfolio.

RACE ONCOLOGY LTD (ASX: RAC) – Under the health care sector, the company’s net cash used in operations of $838k was lower than projected, in terms of financial performance mainly driven by personnel and other cost savings as well as the deferral of some third- party manufacturing costs. The Company expects to see most of these deferred costs in the next quarter. At the end of the quarter, cash reserves were $2.845 million which for the remainder of the current financial year and is projected to be enough cash to at least cover expenses. The company remains committed to achieving contemporary usage of Bisantrene by clinicians and continues to pursue NPP usage in Europe. The stock is trading near its 52-week low which went up 36.842% at $0.130 as at October 30, 2018. However, the stock has witnessed a performance change of -66.07% over the past 6 months. 

VAULT INTELLIGENCE LIMITED (ASX: VLT)Under information technology sector, the company recorded a new contracted annualized recurring revenue (CARR) growth of 76% year on year. The group achieved record sales, record cash receipts and has also launched new products. However, no dividend was paid or declared since the start of financial year. The cash and cash equivalents as at June 30, 2018 was $2.168 million compared to 2017 cash of $1.375 million and the company also holds net assets of $3.401 million as compared to $1.906 million in 2017 representing decent balance sheet. The group is working towards its software, customer relationship management and system delivery account. The stock is trading near its 52-week low which went up 9.091% at $0.024 as at October 30, 2018. However, the stock has witnessed a performance change of 15.79% over the past 6 months.

PRODIGY GOLD NL (ASX: PRX) – Under the metals and mining sector, the company received final permits for its exploration campaign at the North Arunta Project and intends to commence drilling within 3 weeks. An equity raising of $6 million which included St Barbara (ASX: SBM) entering the register with a 10% stake. The company’s revenue has decreased from $180,138 in 2017 to $141,739 in 2018 while the net loss also decreased from $7,012,190 in 2017 to $5,693,350 in 2018. Hence, there was no performance-based remuneration paid during the year, but the company may in future grant and also no dividends were paid or declared during the financial year. The cash and cash equivalents at end of financial was of $6,136,652 with zero debt. The stock is trading near its 52-week low which went up 7.143% or $0.005 at $0.075 as at October 30, 2018. The company has reached a market capitalization of $30.49 million.


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