Six NZX Hits and Misses Stocks of The Day - GFL, MWE, NZK, CEN, ALF, CRP

Be the First to Comment Read

Six NZX Hits and Misses Stocks of The Day - GFL, MWE, NZK, CEN, ALF, CRP

 Six NZX Hits and Misses Stocks of The Day - GFL, MWE, NZK, CEN, ALF, CRP
Image source: Vintage Tone,Shutterstocck

The stocks traded on the NZX witness daily action and motion in their prices on a constant basis. Some stocks experience maximum gain in their value from the previous close or the opening price and get slated as ‘Top Gainers.’ On the other hand, few stocks experience a decline in their market prices as compared to their earlier close and get categorised as ‘Top Decliners.’

Source: Copyright © 2021 Kalkine Media Pty Ltd

In the light of the above, let us glance at the 6 stocks that were hits and misses on NZX, making the heads turn on Wednesday.

Geneva Finance Limited

Geneva Finance Limited (NZX:GFL) recently provided its FY21 earnings guidance. The company states its NPBT is within NZ$ 6.3 million to NZ$ 6.5 million. This is attributed to the impressive trading results in consumer financé, insurance, and debt collection business operations.

In the light of the above-mentioned trading results, the Board has revealed to restore the final dividend to 2.25 cps, which had earlier been decreased to 1.75 cps, owing to lockdowns and restrictions across the country in the initial months of 2020.

The Company continues to remain focused on its core lending businesses and aims to enhance its profits.

On 21 April, at the time of writing, Geneva Finance was trading down by 5% at NZ$ 0.570.

Also Read: 6 NZX Stocks That Shined Or Faded In The Market Today - JLG, VGL, PYS, PHL, GFL, SMW

Marlborough Wine Estates Group Limited

Marlborough Wine Estates Group Limited (NZX:MWE) provided an update on the harvest for the year 2021, which was low by approximately 26% on 2020’s harvest and 20% on average quantity.

The decreased yield of grapes would result in a lesser quantity of grapes available for the wine production, thereby reflecting less profitability. This would result in a rise in the prices of grapes. As a result, the Company anticipates an increased price per tonne, which would help in neutralising the likely loss in revenue.

MWE has set aside the grapes that would be required for the future production of wines for the domestic consumption as well as the export markets.

On 21 April, at the time of writing, Marlborough Wine Estates Group was trading down by 4.23% at NZ$ 0.340.

Must Read: 5 NZX stocks you need to focus on- MWE, PFI, TAH, AIR, PX1

New Zealand King Salmon Investments Limited

New Zealand King Salmon Investments Limited (NZX:NZK) has announced FY21 results wherein, it reported revenues worth NZ$ 95.2 million. The Company's pro forma EBITDA was at NZ$ 10.0 million with the sales volume of 4,117 MT during the said period.

Moreover, the Company has launched new varieties of fish like Ōra King June Hog, Ōra King Keiji, and Regal Maple to help the consumers savour their tastebuds.

NZK is making efforts to relocate the salmon farms with the help of the Government and Iwi.

On 21 April, at the time of writing, New Zealand King Salmon Investments was trading down by 1.19% at NZ$ 1.660.

Interesting Read: Report Card: Half-Yearly Results Of 7 Stocks- FWL, DGL, HMY, SPK, MHJ, NZK, ENS?

Contact Energy Limited

Contact Energy Limited (NZX:CEN) in its monthly update, recorded 277 GWh as cumulative market electricity and gas sales for the month of March 2021. Contact generated 676 GWh of electricity during the period.

It is also noted that the Kiwi electricity demand for March 2020, was 2.1% more as compared to March 2019 (when it was down by 1.9%)

On 21 April, at the time of writing, Contact Energy was trading up by 0.67% at NZ$ 7.550.

Also Read: Why These 6 NZX Stocks Are Gaining Prominence Today- PCT, IFT, OCA, ARG, CEN, TPW

Allied Farmers Limited

Allied Farmers Limited (NZX:ALF) has affirmed the declaration made by New Zealand Rural Land Company Limited (NZX:NZL) on its conditional agreement in the acquisition of the dairy farm, based in Mokoreta, Southland, with a purchase price fixed at NZ$ 10.37 million.

It must be noted that ALF has a 50% stake in NZL.

On 21 April, at the time of writing, Allied Farmers was trading up by 1.92% at NZ$ 0.530.

Chatham Rock Phosphate Limited

Chatham Rock Phosphate Limited (NZX:CRP) has announced going for a private placement of 6,000,000 units for gross sales up to NZ$ 720,000. This private placement is likely to be closed around 6 May 2021.

It is pointed out that the Company had earlier successfully raised funds for its working capital requirements.

On 21 April, at the time of writing, Chatham Rock Phosphate was trading flat at NZ$ 0.135.

Must Read: Why Are These 8 NZX Stocks Creating Buzz-CRP, ARG, KMD, PPH, OCA, BLT, PYS, VGL?


Speak your Mind

Featured Articles

We use cookies to ensure that we give you the best experience on our website. If you continue to use this site we will assume that you are happy with it. OK