Aristocrat Leisure Limited
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ALL Details
· Management transition hurt the stock sentiment: Aristocrat Leisure Limited (ASX: ALL) stock fell over 5.9% on November 09, 2016 impacted by the management transition. The group’s CEO & Managing Director, Jamie Odell decided to quit the business in February 2017. Trevor Croker is assuming CEO role from March 2017. Investors are skeptical on this management transition which has hurt the stock sentiment. Meanwhile, Aristocrat Leisure stock surged over 49.2% (as of November 08, 2016) in the last six months placing them at a higher P/E.
· Recommendation: We give an “Expensive” recommendation at the current price of - $ 14.30
Syrah Resources Ltd
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SYR Details
· Balama Project on track: Syrah Resources Ltd (ASX: SYR) stock fell over 7.4% on November 09, 2016 post a fall of over 23.3% in the last three months (as at November 08, 2016) while the group made a new issue announcement for 600,000 unlisted options. Management changes also contributed to the weak stock sentiment. On the other hand, Balama Project is on track for commissioning in the second quarter of 2017. The Project’s budget is enhanced to US$185 million from US$175 million. The mining fleet required for full operations have been mobilized and construction of the run-of-mine (ROM) ore storage pad is underway. Jim Askew is now assuming an Executive Chairman role after Tolga Kumova resigned as management director. Shaun Verner is now the Executive General Manager for Sales and Marketing. We believe bargain investor’s need to leverage the stock fall as an entry opportunity.
· Recommendation: We maintain a “Buy” recommendation on the stock at the current price of – $ 3.14
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Project Logistics (Source: Company Reports)
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