What’s Latest With CUV, PRN, A2M, SLR, GUD, ALX and GXY

  • Nov 30, 2019 AEDT
  • Team Kalkine
What’s Latest With CUV, PRN, A2M, SLR, GUD, ALX and GXY

The below-discussed stocks have witnessed in their stock prices with some going up and some going down during the day’s trade on 29 November 2019. Notwithstanding any biases, let’s find out what is the latest with these stocks.

CUV Trading at $28.100

Being a global biopharmaceutical company; CLINUVEL PHARMACEUTICALS LTD (ASX: CUV) has expertise in pharmacology, pharmaceuticals, medicine, dermatology and many other specialties and is committed to developing drugs for the treatment of a range of severe skin disorders. With an aim to deliver innovative medical solutions for complex problems, CLINUVEL focuses its R&D on the interaction of skin with its environments.

CUV recently appointed Professor Jeffrey Rosenfeld (a neurosurgeon with extensive experience in senior healthcare and research executive roles) as a Non-Executive Member of the Group’s Board of Directors. Dr Rosenfeld has a distinguished career in the Australian Army Reserve and was the Founding Director of Monash University Institute of Medical Engineering and acted as Board Chair for the Security and Health Executive Leadership Institute at The University of Melbourne.

CUV is optimistic that the appointment of Dr. Rosenfeld shall add fresh skills and complement CLINUVEL’s Board, benefit CUV through his academic and broad knowledge.

On 29 November 2019, the CUV stock settled at a price of $28.100, down by 1.92% as compared to the previous close. During the past five days, CUV stock has decreased by 3.83%; however, the same had increased by 65.70% in the last one year (as on 28 November 2019).

PRN trading at $1.945

Metals & Mining Company, Perenti Global Limited (ASX: PRN) has progressed to become one of the largest companies in the world offering surface and underground mining solutions at scale while having the experience of operating some of the biggest projects in the world.

PRN’s operations span four continents and 13 countries and has a global workforce of more than 8,000 employees.

On 8 November 2019, PRN witnessed an attack close to Semafo’s Boungou mine’s personnel convoy in Burkina Faso resulting in several fatalities of around 19 with 26 staff injured. According to PRN, the evacuation process for all staff remaining at the Boungou mine site is currently underway and is being conducted via helicopter.

At the market close on 29 November 2019, the PRN stock closed at a price of $1.945, with a market capitalisation of $ 1.37 billion. During the period of last six months, it has increased by 33.33% as on 28 November 2019.

A2M up by 1.862%

Founded in NZ in 2000, a2 Milk Company Limited (ASX: A2M) has worked with scientists from across the globe to establish the scientific understanding of the benefits of the A2 protein type, to enhance people’s lives via the wonder of natures.

Being a key component of its global supply strategy, a2 Milk Company recently agreed to modify its manufacturing and supply arrangements with Synlait Milk Limited. The revised agreement earlier provided for a minimum term of five years, with a rolling three-year term from 1 August 2020; these have been revised to:

  • A two-year extension to the term of the agreement, effectively providing for a new minimum term to, at the earliest, 31 July 2025;
  • An increase in the volume of nutritional products over which Synlait already has exclusive supply rights;
  • Increased committed production capacity from Synlait;
  • Pricing terms that reflect the commitment on the part of both companies to an ongoing market competitive pricing regime;

The A2M stock closed the day’s trade on 29 November 2019 at a price of $ 14.770, up by 1.862%. The stock has delivered 3.65% return in the last five days (as on 28 November 2019).

SLR Stock Delivered 10.78% Return in Five Days

Gold producer Silver Lake Resources Limited (ASX: SLR), owns its cornerstone asset, the Mount Monger Gold Camp, in the prolific Eastern Goldfields district of Western Australia. It has a proven history of Reserve replacement and discovery with a production of ~158,000 ounces in last year.

SLR recently announced its intention to compulsorily acquire any EganStreet shares that are not accepted into its takeover offer made in the view of its relevant interest of 90.99% in Egan Street Resources Limited.

The Bid Implementation Deed between SLR and EganStreet, pursuant to which Silver Lake was expected to acquire all the issued, and outstanding ordinary shares of EganStreet was announced on 30 July 2019.

The offer for the EganStreet shareholders who have not yet accepted Silver Lake’s offer remains open till 7.00 PM (Sydney time) on 13 December 2019.

During the day’s trade on 29 November 2019, the SLR stock closed at a price of $ 1.110 with a market capitalization of $ 984.07 million. The stock has delivered 10.78% return in the last five days (as on 28 November 2019).

GUD Stock Delivered 22.76 % Return in Three Months

Operating in consumer discretionary business, GUD Holdings Limited (ASX: GUD) comprises of several dynamic product companies based in Australia and New Zealand making GUD the owner of one of the premier brand portfolios of Asia-Pacific region.

GUD presented various aspects of its business, including its past financial as well as operational performance and outlook for its business at UBS Australasia Conference on 1 October 2019. Some of the highlights from the presentation are:

  • Revenue from continuing operations up 9% on pcp;
  • Economic sentiment continues to be soft, however some BU’s are experiencing slight strengthening in sales;
  • In FY20, modest EBIT growth still expected, with NWC progress and a small improvement in cash conversion;

The GUD stock closed the day’s trade on 29 November 2019 at a price of $11.000, with a market capitalization of $963.25 million. The stock has delivered 22.76 % return in the last three months (as on 28 November 2019)

ALX Raises Nearly $1.2 billion

Being a global operator and developer of toll roads, Atlas Arteria (ASX: ALX) comprises of four businesses, with current ownership of 25% interest in the APRR toll road group in France. ALX focuses on creating value for our investors over the long-term through considered and disciplined management.

Lately, ALX on 28 November 2019, announced its plan to complete the despatch of the Retail Offer Booklet and personalised Entitlement and Acceptance Forms to its security holders.

The eligible shareholders shall be able to participate in the retail component of Atlas’ pro-rata accelerated non-renounceable entitlement offer of new stapled securities which was announced earlier on 21 November 2019.

Prior to this, ALX successfully completed the fully underwritten Placement and the institutional component of the Entitlement Offer to global and domestic institutional investors in order to raise nearly $1.2 billion.

At the market close on 29 November 2019, ALX stock closed the day’s trade at a price of $7.650 with a market capitalisation of $ 5.26 billion. Over the period of last five years (till 28 November 2019), the stock has increased by 157.26%.

GXY Targeting FID on Sal de Vida Stage One

As a metals & mining player in Australia, Galaxy Resources Limited (ASX: GXY) owns and operates lithium production facilities, hard rock mines and brine assets in Canada and Argentina and wholly owns and operates the Mt Cattlin mine located in Ravensthorpe, Western Australia, which is currently producing spodumene and tantalum concentrate.

GXY is currently advancing plans to develop the Sal de Vida Project in Argentina, in the lithium triangle (a source of more than 40% of global lithium production).

Lately, Galaxy resources has shown its commitment to advance its two first-class development assets with its corporate strategy for 2020. The highlights from the corporate strategy and projects update are as follows:

  • Focused and simplified corporate strategy to accelerate growth;
  • Targeting a Final Investment Decision (FID) on Sal de Vida stage one in Q2-Q3 2020;
  • Simplified Sal de Vida flowsheet developed in-house that greatly reduces technical complexity and risk;
  • Sal de Vida execution to be staged in multiple modules and the new product strategy considers initial commercialisation of a primary lithium carbonate to accelerate earnings realisation;
  • Sal de Vida stage one expected to be primarily funded from the balance sheet;
  • Mt Cattlin operations focused on optimising production and costs whilst meeting customer demand;
  • James Bay works focused on advancing the asset to an execution decision on an integrated project solution;

The cornerstone to GXY’s strategy is to advance Sal de Vida to execution in 2020 and create a sustainable, large scale, global lithium chemicals business via organic growth.

The GXY stock closed the day’s trade on 29 November 2019 at a price of $0.925, with a market capitalisation of $ 386.96 million. During the last month (ended 28 November 2019) the stock has increased by 6.18%.

Bottomline

The above-discussed stocks have shown a substantial change in their prices over various time frames. However, the change has not been in a consistent trend, but depicts both positive as well as negative returns in the said time frames.


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