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Should you buy Westpac Bank ?

Westpac Bank (WBC)

Westpac reported its 2015 interim financial results and the operating divisions, especially retail and business banking, delivered though with a lower bottomline.. Cash earnings were affected by adjustments for derivatives and lower earnings from Treasury operations. Strength continues to be a feature of the group and the economic outlook is positive even though there are some near-term challenges. The focus continues to be strategy with an increased emphasis on service.
 
Cash earnings at $ 3.778 billion was down by 2% compared to the second half of 2014 while cash EPS was down by the same percentage to 121.3 cents per share. The reported NPAT was down 8% to $ 3.609 billion and NIPM excluding Treasury and Markets was flat at 2.01%. The impairment charge to average gross loans was flat at 11 basis points and return on equity was down 54 basis points to 15.8%. The common equity tier 1 capital ratio was down 21 basis points to 8.8% and the fully franked interim dividend was 1% higher at $ .93 per share. Cash earnings growth from the operating divisions was 1.4% and core earnings growth was 2.2% while total group cash earnings came to $ 3.778 billion after negative derivative adjustments of $ 85 million. Click Here To Read The Full Report


Capital Ratio (Source - company Reports)
 

Two Small Cap Gold Stocks To BUY

Beadell Resources (BDR)

Beadell Resources Ltd (ASX: BDR) has recently reaffirmed its confidence of achieving a full year production guidance in the range of 170 000 oz and 190 000 oz. However, since its openpit operations witnessed a lower-than-expected material movement during April and May, the firm has recently adjusted its June quarter production figures accordingly. The Tucano mine’s operations in Brazil got affected by the rainfall, which in turn obstructed material movement by turning the Urucum openpit from clay-rich colluvium and oxide overburden to harder ore. Consequently, the group has reduced the Gold sales estimates from the Tucano to be in the range of 25 000 oz and 28 000 oz for the June quarter, which is 33 000 oz lower as compared to the March quarter.

On the other hand, we believe that this negative impact has already been factored in the firm’s share prices and the group has been making solid efforts to boost its performance for the second half of the year. As and when the dry season starts, the group has planned a huge material movement on the site. As a result, the firm estimates a gold sales in the range of 115 000 oz - 125 000 oz during the second half of the year, at costs in the range of $810/oz and $890/oz. Click Here To Read The Full Report


Gold Nose and Mutum Location (Source: Company Reports)


 

One Infrastructure Stock To Buy

Macquarie Atlas Roads Limited (ASX: MQA) reported a decent increase in its weighted average toll revenue by 3.3% during the march quarter, against the same period last year, driven by higher traffic levels as well as revised toll schedules which has been executed from the last one year. The weighted average traffic for the period also rose by 2%, contributed by the improving traffic volumes at the APRR network.

Autoroutes Paris-Rhin-Rhône (APRR)

The traffic (total vehicles kilometers travelled) improved at APRR by 1.8% while the toll revenue rose 2.5% during the March quarter, as compared to the corresponding period in prior year. Heavy good vehicles traffic rose by 1.9%, driven by the recovering economy in France, while the light vehicles traffic surged 1.8% on the back of improved winter vacation traffic as well as less weather related hurdles. 


Traffic Growth (Source - Company Reports)