This report is an updated version of the report published on 15 September 2023 at 3:55 PM AEST.
Company Overview: Zeotech Limited (ASX: ZEO) is a mineral processing technology company, which is involved in the development and commercialization of proprietary zeolite mineral processing technology. Norfolk Metals Limited (ASX: NFL) is an Australia-based exploration business, which is engaged in holding the Orroroo Uranium Project and Roger River Project. Kalkine’s ‘Stocks Under 20 cents’ Report covers the Investment Summary, Key Financial Metrics, Risks, Outlook, SWOT Analysis, Technical Analysis along with the Valuation, Target Price, and Recommendation on the stocks.
1. Zeotech Limited (Recommendation: Speculative Buy, Market Cap: ~AUD 88.70mn)
4QFY23 Update:
Key Ratios & Figures:
Key Risks and Outlook:
SWOT Analysis:
Valuation, Stock Recommendation and Technical Analysis:
The stock has witnessed a surge of ~22.22% in 1 month and over the last 6 months, it has decreased by ~8.33%. The stock has a 52-week low and 52-week high of AUD 0.030 and AUD 0.066, respectively, and is currently trading above the average of 52-week high-low average.
2. Norfolk Metals Limited (Recommendation: Speculative Buy, Market Cap: ~AUD 28mn)
Results Highlights of Q4FY23:
Key Ratios & Figures:
Key Risks and Outlook:
SWOT Analysis:
Valuation, Stock Recommendation and Technical Analysis:
The stock has witnessed a surge of ~19.23% in 6 months and over the last 1 year, it has increased by ~3.33%. The stock has a 52-week low and 52-week high of AUD 0.120 and AUD 0.370, respectively, and is currently trading below the average of 52-week high-low average.
Markets are trading in a highly volatile zone currently due to certain macro-economic issues and geopolitical tensions prevailing. Therefore, it is prudent to follow a cautious approach while investing.
Note 1: Past performance is neither an indicator nor a guarantee of future performance.
Note 2: The reference date for all price data, currency, technical indicators, support, and resistance levels is 15 September 2023. The reference data in this report has been partly sourced from REFINITIV.
Note 3: Investment decisions should be made depending on an individual’s appetite for upside potential, risks, holding duration, and any previous holdings. An ‘Exit’ from the stock can be considered if the Target Price mentioned as per the Valuation and or the technical levels provided has been achieved and is subject to the factors discussed above.
Technical Indicators Defined: -
Support: A level at which the stock prices tend to find support if they are falling, and a downtrend may take a pause backed by demand or buying interest. Support 1 refers to the nearby support level for the stock and if the price breaches the level, then Support 2 may act as the crucial support level for the stock.
Resistance: A level at which the stock prices tend to find resistance when they are rising, and an uptrend may take a pause due to profit booking or selling interest. Resistance 1 refers to the nearby resistance level for the stock and if the price surpasses the level, then Resistance 2 may act as the crucial resistance level for the stock.
Stop-loss: It is a level to protect further losses in case of unfavourable movement in the stock prices.
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