Infigen Energy Ltd

IFN Details
· Positive sentiment on renewable energy sector: Infigen Energy Ltd (ASX: IFN) stock surged over 5% on October 20, 2016 driven by the revamped investor’s confidence on renewable energy stocks. Investors are also looking forward for the upcoming OPEC meeting to get a better clarity on oil production cut that may boost energy stocks overall. With the recent rise, IFN stock rallied over 17.8% in just last five days (as of October 19, 2016). On the other side, the group’s Managing Director and Chief Executive Officer, Miles George announced his retirement. Ross Rolfe is appointed as successor to Miles George. Meanwhile, we maintain our bullish stance on the stock while the group is coming out with their Annual Shareholders Meeting on November 17, 2016.

· Recommendation: We give a “Speculative Buy” recommendation on the stock at the current price of $ 0.94

Rio Tinto Limited

RIO Details
· Decent third quarter results: Rio Tinto Limited (ASX: RIO) stock rose over 0.43% on October 20, 2016 driven by their decent third production results. The Pilbara iron ore production delivered run-rate of 330 million tonnes a year on a 100% basis. The shipments were reduced by rail and port maintenance in the quarter and the annual shipment guidance for Pilbara is in the range of 325 and 330 million tonnes for 2016. Quarterly production for Weipa and Gove reached 35.6 million tonnes, which is a rise of 10% against the prior corresponding period.  Kitimat reported a growth for second consecutive quarter, leading to a rise of 11% for aluminum during the nine months. Mined copper production delivered 4% rise in this year to date in spite of lower copper production from Escondida, on the back of lower grades. The group continued to offload their non-core assets and finished sale of its Mount Pleasant thermal coal assets for $221 million plus royalties. Meanwhile, the group continued to focus on its costs and with the recent recovery in commodity prices, the group’s performance could improve further in the coming months. RIO stock surged over 9% in the last four weeks (as of October 19, 2016).

· Recommendation: We maintain our “Buy” recommendation at the current price of $ 50.96


Third quarter and year to date of 2016 production highlights (Source: Company Reports)

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