TechnologyOne Limited
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TNE Details
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Weak PBT: TechnologyOne Limited (ASX: TNE) stock fell over 1.7% on July 08, 2016 leading to a fall of 3.72% in the last four weeks. The group has been facing stiff competition from its peers, leading to the weak sentiment on the stock. On the other hand, TNE’s revenue growth rose by 12% on a yoy basis to $11 million in the first half of 2016. The group reported that they are on track to achieve a solid profit growth of 10% to 15% for the 2016 full year based on its sales pipeline for the second half. However, TNE delivered a weak Profit before Tax which fell by 17% for the first half of 2016. Moreover, the stock is trading at unreasonable valuations with a very high P/E.
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Recommendation: We give an “Expensive” recommendation on the stock at the current price of $5.08
Regis Resources Limited
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RRL Details
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Strong resource update: Regis Resources Limited (ASX: RRL) fell over 2.8% on July 08, 2016. RRL reported a strong resource position, with its Ore Reserves rising by 6% from 2.01 million ounces to 2.13 million ounces. Mineral Resources enhanced by 5% from 7.63 million ounces to 8.01 million ounces. JORC compliant Ore Reserves potential was improved to 60.8 million tonnes at 1.09 g/t gold for 2.13 million ounces against the earlier forecast of 59.1 million tonnes at 1.06g/t gold for 2.01 million ounces as of March 31, 2015. JORC compliant Mineral Resources estimates rose to 261.7 million tonnes at 0.95g/t gold for 8.01 million ounces from 249.1 million tonnes at 0.95g/t gold for 7.63 million ounces as at 31 March 2015. On the other hand, RRL stock rallied 74.6% (as of July 07, 2016) in just last three months placing the stock at higher levels.
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Recommendation: We give an “Expensive” recommendation on the stock at the current price of $3.87, and would review the stock at a later date.
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Mineral resource update (Source: Company Reports)
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