The gainers on ASX 200 - Silver lake, CYBG, Viva Energy

  • Oct 11, 2019 AEDT
  • Team Kalkine
The gainers on ASX 200 - Silver lake, CYBG, Viva Energy

In the below article, we will be digging deeper into the three gainers on ASX 200 with their recent updates, which led to the price rise in the trading session. At the time of writing on 11th October 2019 (AEST 3:08 PM), the benchmark index S&P/ ASX200 is trading at 6,604 with a rise of 0.87% over the prior close. On the same rising trend, the below three stocks have gained by decent margins and provided investors with good returns.

Silver Lake Resources Limited (ASX: SLR)

Silver Lake Resources Limited (ASX: SLR) is into mining and processing of gold from the Mount Monger Camp. It is also engaged in gold exploration and evaluation of projects.

The company’s Performance in the first Quarter of FY20

The company through a release dated 11th October 2019, updated the market with strong performance for the first quarter ended September 2019:

  • The group production of gold and copper stood at 59,288 ounces and 734 tonnes, respectively,
  • Silver Lake delivered sales of 56,683 ounces gold and 613 tonnes copper at an average price of A$1,995 per ounce and all-in-sustained-cost (AISC) amounting to A$1,260/oz.
  • The company has reported decent production numbers which delivered continued cash growth and the figure for cash and bullion stood at $155.2 million, which soared by 18.3% over the quarter. However, the listed investment of company amounted to $5.1 million.
  • In the Q1 FY20, there was $3.9 million of growth capital, which includes associated infrastructure with the beginning of French Kiss.

A look at Mount Monger Camp

  • The company produced 36,058-ounce gold with higher mined grades throughout all underground mines driving an increased mill grade for Q1 FY20.
  • For the quarter September 2019, 34,269 ounces gold has been sold at an AISC amounting to A$1,338/oz. There was increase in Ore stockpiled by 10,274 ounces to 59,308 ounces.

A look at Substantial Holdings

  • The company recently announced that on 24th September 2019, Mitsubishi UFJ Financial Group, Inc. has ceased to become a substantial holder in the company.
  • In another release, it was mentioned that Van Eck Associates Corporation and its associates have become an initial substantial holder on 24th September 2019, the substantial holder possesses voting power of 5.02%.
  • There has recently been a change in substantial holdings in Egan Street Resources Limited and its current voting power stands at 30.43% on 17th September 2019 as compared to the previous voting power of 27.55%.
Guidance

The company stated that it has geared up its operations in order to deliver the upper end of sales guidance in the range of 215,000 - 230,000 ounces gold equivalent at an average AISC in the vicinity of A$1,375/oz-A$1,450/oz.

The stock of SLR closed at $1.035 per share, up 12.5% as on 11th October 2019. The stock has delivered returns of -22.69% and 10.84% within last three-months and six-months, respectively.

CYBG PLC (ASX: CYB)

CYBG PLC (ASX: CYB) provides banking products and services and the market capitalization of the company stood at A$2.82 billion as on 11th October 2019.

Public Disclosure of Transactions

The company through a release dated 2nd October 2019 updated the market with the transactions by the persons discharging managerial responsibilities:

  • CYBG stated that Ian Smith and Fraser Ingram purchased 129 and 130 shares at the price of £1.16, respectively.
  • It was added that the transactions took place on 1st October 2019.

As per the release dated 1st October 2019, CYB pointed out its total number of voting rights was 1,434,485,689 as on 30 September 2019, with respect to Financial Conduct Authority’s disclosure and transparency requirements. On the closing date 30th September 2019, the total ordinary shares stood at 538,259,895 and the total CHESS Depositary Interests were 896,225,794.

Disciplined asset and deposit growth in Q3 FY19

  • The company was in belief that the trading for nine months to 30 June 2019 was in accordance with the expectations of Board as well as good progress continued to be made with the Virgin Money integration programme. It witnessed disciplined asset and deposit growth in accordance with its strategy.
  • There was an increase of 0.5% in business lending and the figure stood at £7.7 billion and it witnessed lower new business volumes due to subdued market.
  • It experienced a growth of 5.7% in personal lending, which led to the figure of £4.8 billion, this was mainly because of strong credit card growth.
  • It posted Net Interest Margins of 168 basis points, which was lower by 3bps against 1H FY19, which resulted from the re-financing effect of a large volume of mortgage redemptions in Q3.
  • CET1 (common Equity Tier 1) ratio of CYBG stood at 14.6%, which makes the company strongly capitalized. It is anticipating NIM to be at lower-end of the range of 165-170bps in FY19.

The stock of CYB closed at $2.150 per share, up 9.415% as on 11th October 2019. The stock has delivered returns of -44.96% and -47.32% within last three-months and six-months, respectively.

Viva Energy Group Limited (ASX: VEA)

Viva Energy Group Limited (ASX: VEA) is into manufacturing, distribution and supply of petroleum products to commercial and retail customers.

Acquisition of Wholesale business of Liberty Oil
  • As per the release dated 10th October 2019, the company updated the market that there has been no objection by Australian Competition and Consumer Commission on the proposed acquisition of the pending 50% in the wholesale business of Liberty Oil Holdings Pty Ltd by a wholly owned entity of Viva Energy Group Limited , Viva Energy Australia Pty Ltd.
  • It was observed by the ACCC that the proposed acquisition is unlikely to substantially lessen the competition in the wholesale supply of fuel products.
  • However, the interest of Viva Energy Australia Pty Ltd will have to remain at 50% in the retail business of Liberty Oil Holdings Pty Ltd.

Re-affirmation of Credit Rating

  • On 19th September 2019, the company announced that S&P Global Ratings has affirmed its long-term issuer credit rating at ‘BBB- ‘.
  • It added that the S&P has also revised the outlook to negative from stable, which demonstrated the unfavorable industry conditions.

A look back at Current Substantial Holdings

  • Viva announced that PERPETUAL LIMITED and its related bodies corporate effected a change to their substantial holdings on 25th September 2019 and the current voting power stands at 5.22% in comparison to the previous voting power of 6.22%.
  • In another update, the company stated that Legg Mason Asset Management Limited has become an initial substantial holder in the company with the voting power of 5.03% on 13th September 2019.

Half-Year Performance

  • On 26th August 2019, the company release its financial results for the six months ended 30 June 2019, which were in accordance with its prior guidance.
  • The company renegotiated the acquisition of Wholesale business of Liberty as well as its Alliance partnership with Coles Express.
  • The total sales volume stood at 7,126 million litres, reflecting a rise of circa 2.5% in comparison to the half year ended 30 June 2018.
  • The underlying EBITDA of the group amounted to $171.6 million, which stood at the upper end of June 2019 guidance range of $150 – $180 million.
  • As of 30th June 2019, the company had no structural long-term debt and a net debt position of $168.7 million.

The stock of VEA closed at $1.870 per share, up 4.762% as on 11th October 2019. The stock has delivered returns of -19.23% and -26.54% within last three-months and six-months, respectively.


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