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Today, we are going to be looking at some Australian stocks to watch, there has been positive activity in the Australian market over the last couple of weeks, after a fresh round of bank earnings and stronger than expected retail data helped major U.S. indices pare recent losses. So, there’s plenty of activity to discuss, however, we are going to zero in on 4 Australian stocks that have been boosted by new strategies put in place, mergers, reporting of profits, etc
Whitehaven Coal Ltd. (WHC.AU)
NSW based coal miner has advised they have achieved a record average coal price of $514 a tonne over the Jube quarter, which is up from $325 a tonne averaged over financial year 2022.
Net debt of $403.4m as of 31st December 2021, which is 50% lower than on 30th June 2021. The company is on track to repay in full its senior bank facility shortly and to be in a net cash position in March 2022.
After considering the H1 FY22 results and expectations for the year, the Board has declared an interim unfranked dividend of 8 cents per share and intends to undertake an on-market share buyback programme up to 10% of issued shares and capped at $400 million in total.
Worley Ltd (WOR.AU)
Worley, a locally listed engineering firm serving the energy sector headquartered in Australia, has been boosted by the sales department acquiring contracts to provide project management services for unconventional gas project by Aramco.
The term of the contracts is three (3) years with an option for an extension for a further two (2) years. The services will be executed by Worley’s Al-Khobar and Houston offices, further demonstrating Worley’s commitment to develop local capability and centres of excellence that underpin future growth in the location.
The Citibank group has taken a large interest in the company. Citi’s desk crossed a line of 13.6 million shares at $13.84 a share after market, which was in line with the last close.
Lynas Rare Earths Ltd (LYC.AU)
Lynas Rare Earths was established as an ethical and environmentally responsible producer of rare earth materials and is the world’s only significant producer of separated rare earth materials outside of China. Lynas Rare Earths reported sales revenue of up to $295 million for the fourth quarter, down slightly on the prior three-month period but the second best in the mining company’s history.
On Wednesday 3rd August the company unveiled plans to invest A$500 million ($345.40 million) to expand capacity at its Western Australia-based Mt Weld mine, to meet market demand for rare-earths materials.
The expansion of mine capacity in existing upstream and downstream production would offer an additional 2,400 tonnes NdPr equivalent production per year, the company added. Shares of Lynas rose 4.3% to their highest levels since June 28.
Australia and New Zealand Banking Groups Ltd (ANZ.AU)
ANZ agreed last month to pay $4.9 billion to acquire $Suncorp Group Ltd (SUN.AU) and said that it had ceased discussions with private equity group KKR over a potential deal for MYOB.
To read an in depth article on ANZ visit Adam Kahlberg’s excellent article on the banking giant here https://www.gomarkets.com/au/articles/shares-and-indices/anz-set-to-acquire-suncorp-in-mega-acquisition/
To have access to a system where you are able to build a diversified portfolio and/or trade these stocks as CFDs to take advantage of recent price movements, you can visit us here at GO Markets or call in and speak to one of our account managers in the Melbourne office on 03 8566 7680.
Sources: https://whitehavencoal.com.au/, moomoo news, Bloomberg, Financial Review, GO Markets.com/au
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