S&P/ASX 200 skyrockets to a 100-Day High: A Look at Three Outperformers

  • November 18, 2020 01:42 PM AEDT
  • Team Kalkine
S&P/ASX 200 skyrockets to a 100-Day High: A Look at Three Outperformers

Summary

  • The benchmark S&P/ASX 200 has reached a fresh 100-day high with the index hitting a mark of 6,537.20.
  • A strong recovery in S&P/ASX 200 since the beginning of the March 2020 quarter seems to be uplifting the market sentiment around the equity front with many stocks following the lead, delivering considerable returns.
Gold MTF non-AMP

S&P/ASX 200 has reached a fresh 100-day high with the index crossing the 6,500 mark to touch 6,537.20 mark (as on 18 November 2020 11:00 AM AEDT). The surge in the parent index since the beginning of the March 2020 quarter, seems to be uplifting the market sentiment with many stocks on the exchange showing a strong price appreciation, leading to significant returns.

Let us glance though three ASX-listed Stocks turned Outperformers.

Fortescue Metals Group Limited (ASX:FMG)

FMG has delivered a YTD return of 55.88% as on 17 November 2020, outperforming many major indices including the parent S&P/ASX 200.

Moreover, with the recovery in S&P/ASX 200 since the onset of the second quarter, FMG has also demonstrated strong upward momentum, delivering a return of 22.01% over the last six months.

The return delivered by the Company over the last six month outperforms that of the majority of ASX indexes while generating an alpha of ~ 5.00% over the S&P/ASX 200 during the same period.

Recent Quarterly Highlights

During the September 2020 quarter (Q1 FY2021), FMG delivered 44.3 million tonnes of iron ore, which coupled with higher average realised price of USD 106 per dry metric tonne, contributed towards strong revenue and free cash flow generation.

Drilling Commences at Lake Torrens IOCG Project

FMG recently notified shareholders about the starting of drilling activities at the Lake Torrens IOCG, in which, the wholly owned subsidiary of FMG is in process to earn interest through a Farm-In and JV.

Interesting Read: Fortescue Metals Group (ASX:FMG) To Produce Renewable Energy At A Global Scale

Goodman Group (ASX:GMG)

GMG recently reached an all-time high of A$20.060 (as on 9 November 2020) and has demonstrated some strong gains, especially since the onset of the second quarter. The stock delivered a return of 36.70% on a YTD basis as on 17 November 2020, outperforming many major equity and property fund indexes.

The stock recovered considerably with the recovery in S&P/ASX 200 and delivered a return of 26.58% over the last six months, generating an alpha of ~ 9.62% against S&P/ASX 200.

Strong 1QFY2021 as Economy Recovers

The total asset under management (AUM) for the Company climbed to $51.7 billion at the end of the September 2020 quarter.

Furthermore, GMG witnessed a 2.9% growth in like-for-like net property income (NPI) during the quarter with a 97.8% occupancy across the Partnerships.

Also, the Company reaffirmed its FY2021 operating earnings estimate of 62.7 cents a share during the quarter, which remains 9% against the previous financial year.

Related Read: Large Cap ASX RIET Stock that has beaten the benchmark index by 60% on YTD despite COVID headwind

Saracen Mineral Holdings Limited (ASX:SAR)

SAR climbed an all-time high of A$6.75 (as on 28 July 2020) with a splash in the gold spot, delivering an outstanding return of 66.77% on a YTD basis as on 17 November 2020.

Recent Quarterly Highlights

SAR witnessed a solid start for the financial year 2021 with its quarterly production (for September 2020 quarter) reaching 154,388 ounces of gold.

The Company managed to sell 152,790 ounces of gold during the period at an average price of A$2,352 per ounce, leading to the sales receipts of A$359 million.

Furthermore, SAR delivered 70,800 ounces into the hedge book at an average price of A$1,977 per ounce.

Apart from that, the gold miner updated its Reserves and Resources estimate to 8.6 and 17.0 million ounces, respectively.

Must Read: Positive Vaccine news punctures Gold bubble, ASX Gold Stocks Under Pressure

 

 


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