This small cap is sky rocketing, is it too late to invest?

  • Aug 09, 2018 AEST
  • Team Kalkine
This small cap is sky rocketing, is it too late to invest?

Duxton Water Limited (ASX: D2O), the utilities sector company is known for providing capital growth and preserve the invested capital in the portfolio. The stock traded at a current market price of $1.355 (as at August 09, 2018) which is near its 52-week high and has seen daily price change of -$0.005 and percentage change of -0.368%. It has seen a performance change of 33.33% over the past 12 months. The most recent dividend for the stock was 2.4c and the dividend ex-date for it was March 13, 2018 and the dividend pay date was April 18, 2018, the dividend was franked up to 60% for Australian taxation purposes. The deal of Duxton to buy Murray river zone’s 708 megaliters worth more than $3 million in South Australia, has come after the Blue-Sky water fund purchased about $40 million worth of entitlements. Duxton’s pricing was also high as suggested by the same market operators. The director of Water Assets confirmed the purchase through an auction of Ruralco.

Duxton’s net asset value as at July 31, 2018 was $1.34 per share. Over a further $14.5 million of water entitlements as at the July 31, 2018, Duxton Water holds contracts. With some of the portfolio held in cash and net current asset, Duxton Water is invested in approximately $128 million of water entitlements as at July 31, 2018. A 4.5% increase in the value of Water Entitlements held by the group and the increase in the holding value of allocation carried from new season allocations from the 1 of July 2018 and the 2017/18 Water Season. Duxton Water Limited’s revenue has grown from 843.00 k to 4.11 m by 387.66% on year on year basis, while the net income from a loss of 232.00k moved to a gain of 2.07m and has seen an improvement.

Continued rainfall deficiencies have resulted in lo wer seasonal water allocation, as the 2018/19 Water Season began with lower storage volumes. Based on an assessment of fair market value, the total assets of the company are valued; and with an average weighted lease duration of 4.9 years, 51% of the Company's portfolio is leased. The Company has seen an increase in interest for longer term water supply solution, with the increase in allocation pricing, and expects further leases to be entered over the coming months. The group is a small cap with a market capitalization of $ 119.07m and is on our watchlist.

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