From Ampol to Crown Resorts: Five ASX stocks that made a splash today

Highlights

  • Ampol shares rose over 1% on robust performance in Q3 FY21.
  • Mineral Resources plunged 7.5% after announcing its September quarter business report.
  • Reliance Worldwide shares fell on plans to acquire US plumbing supplies business.

The Australian share market traded higher on Tuesday, led by strong rally in tech and consumer discretionary stocks. In afternoon trade, the ASX 200, was up 0.25%, led by Aussie infection prevention company Nanosonics, casino operator Crown Resorts (ASX:CWN), lithium miner Pilbara Minerals (ASX:PLS), gambling business Star Entertainment Group (ASX:SGR), and metal recycling business Sims (ASX:SGM).

Here are five shares that hogged limelight on the ASX today:

Ampol

Shares of Ampol (ASX: ALD) gained as much as 1% to hit an intraday high of AU$31.6 after Australia's biggest fuel supplier reported robust performance in the September quarter.

The company’s third quarter net profit surged 70.8% to AU$41 million, driven by a turnaround at its Lytton Refinery operations. It had posted net profit of AU$24 million in the previous corresponding period. The firm’s earnings before interest and taxes (EBIT) jumped 75% year-on-year to AU$102 million in Q3 2021.

Commenting on earnings, Matt Halliday, Managing Director and CEO, said: “The third quarter was a challenging period for many businesses and Ampol was no exception. In the face of extended lockdowns on the East Coast our business and our people responded, focusing on the safety of our team members and customers and cost control.”

Mineral Resources

Shares of lithium and iron ore producer Mineral Resources (ASX: MIN) tumbled as much as 7.5% to AU$39.66 during the day’s trade after it released its quarterly exploration and mining activity report.

Iron ore shipments and production stood at 5 million wet metric tonnes (wmt) during the September quarter of 2021, which was in line with prior quarter. On a year-on-year basis, iron ore shipments surged 40%. The average realised iron ore price was US$78.32 per dry metric tonnes (dmt).

The company said it is on track to meet financial year 2022 production target of 21-22 million tonnes.

Reliance Worldwide Corporation

Shares of plumbing parts business Reliance Worldwide Corporation (ASX: RWC) declined 2.7% to AU$5.04 during the session today. The stock witnessed choppy trade as it opened higher and gained as much as 4.4% in opening deals, but soon pared its early leads and slipped in negative terrain.

The company reported 8% growth in net sales at US$246 million during the September quarter of the current fiscal, as compared to the previous corresponding period. Operating earnings represented by Earnings before Interest and Tax (EBIT) rose 5% on a year-on-year basis.

In a separate development, the company has announced to acquire US plumbing supplies business EZ-FLO for US$325 million. The transaction would be debt funded using existing facilities.

Crown Resorts

Shares of Crown Resorts (ASX: CWN) surged as much as 11.4% to AU$10.9 following a favourable order from the Royal Commission.

The Commission into the suitability of Crown Melbourne ruled that the gaming and entertainment group can keep its casino licence. The regulator observed that the gaming giant is not only too big to fail, but also too big for state government coffers to suffer financial harm.

The report, however, found the company was not suitable to hold Melbourne licence, labelling that Crown’s conduct was disgraceful, and callous to a level that was hard to comprehend.

Regis Resources

Shares of gold miner Regis Resources (ASX: RRL) dipped 4.4% to AU$2.18 on Tuesday after the company reported disappointing performance in the September quarter. The company posted subdued quarterly production and sales figures due to activity schedule and some unplanned short-term operational issues.

RRL’s quarterly gold sales stood at AU$179 million at an average realised price of AU$2,178 an ounce. The firm’s gold production stood at 101,989 ounce at an average All-in Sustaining Costs (AISC) of AU$1,521 an ounce.

The company has maintained its full-year production guidance between 460,000 ounces and 515,000 ounces of gold at an all-in sustaining cost of AU$1,290-AU$1,365 an ounce.

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