A Quick Look at Three Stocks- ORE, PNI, APE

  • May 03, 2019 AEST
  • Team Kalkine
A Quick Look at Three Stocks- ORE, PNI, APE

Orocobre Limited

The Milton, Australia-based Orocobre Limited (ASX: ORE) is a mineral exploration company engaged in the development and production of potash, lithium, and boron deposits in Argentina. Its principal asset is the Salar de Olaroz lithium project. Orocobre has a current market cap of AUD 905.41 million with ~261.68 million outstanding shares. On May 3rd, 2019, the ORE stock price ended the market at AUD 3.710, edging up 7.225% and has also generated a positive YTD return of 9.15% so far.

On 2nd May 2019, the company released its Macquarie Australia Conference Presentation highlighting its capital market snapshot whereby Toyota Tsusho (15%) and BNY Mellon (5.1%) are its top shareholders. Orocobre has also reported the highest ever production of 3,075 tonnes for the March 2019 quarter, up 10% on the prior corresponding period (pcp). Besides, the revenue for the period amounted to USD 33.4 million on sales of 3,530 tonnes. Even though the sales price of USD 9,451/tonne was down 11% on December 2018 quarter, the company recorded a strong gross cash margin of USD 5,258/tonne (~56%).

Pinnacle Investment Management Group Limited

Pinnacle Investment Management Group Limited (ASX: PNI), based in Sydney, operates as an investment management company that offers third party distribution, fund infrastructure and support services to its affiliates and various investment managers. With around 182.87 million outstanding shares, the PNI stock price closed the day’s trading at AUD 6.190, marginally up 0.487% on May 3rd, 2019. PNI’s YTD return also stands positive at 42.82%.

At the recent Macquarie Australia Conference, the Group’s presentation comprised a company overview, the financial and business highlights for the first half of FY19 and some additional points. Pinnacle’s share of Affiliates’ NPAT amounted to $ 14.3 million, up 44% from $ 9.9 million in pcp and the funds under management (FUMs) were at $ 48.7 billion at January 31st, 2019 and increased to $ 50.7 billion as of March 31st, 2019. The Group also debuted on the S&P/ ASX 200 index in March 2019.

AP Eagers Limited

A.P. Eagers Limited (ASX: APE), based in Newstead, Australia, owns and operates motor vehicle dealerships in Australia. The company has a market valuation of around AUD 1.73 billion with ~ 191.31 million outstanding shares. The APE stock settled the trading at AUD 9.060, edging up 0.11% by AUD 0.010 with ~ 42,818 shares traded on May 3rd, 2019. APE has also generated a healthy positive YTD return of 50.58% and the company has an annual dividend yield of 4.03%.

Recently A.P. Eagers provided an update concerning its conditional proposal to acquire all equity in Automotive Holdings Group Limited (ASX: AHG), that it does not own, through the execution of an off-market takeover bid. The company announced that the number of ordinary shares as a percentage of AHG shares on issue, has now increased to 51.35% through its change of interests notice under the acceptance facility. This implies strong support from shareholders for the merger.


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