All posts by Tom Sartor
Senior Analyst
Sectors Covered: Junior (Emerging) Resources, Bulk Materials
By Tom Sartor
01 March 2022, 10:35 AM
February results were very strong, as we’d flagged was likely. Important large-cap stocks were the stars, beating expectations at a near record rate (37% of the ASX50 Beat) with their prices jumping a record amount (+7%) reflecting a flight to quality.
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By Tom Sartor
21 February 2022, 4:00 PM
The slightly larger dividend was a modest surprise among strong CY21 financials for OZ Minerals (ASX:OZL).
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By Tom Sartor
18 February 2022, 8:00 AM
1H22 cemented Whitehaven Coal's (ASX:WHC) turnaround, although EBITDA/cashflow were slightly below our forecasts.
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By Tom Sartor
04 February 2022, 8:00 AM
OZ Minerals' (ASX:OZL) 4Q and updated cost outlook showed a material impact from Covid-19 challenges and industry cost pressures.
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By Tom Sartor
25 January 2022, 11:00 AM
2Q cost pressure shouldn’t surprise in the context of industry-wide pressure. We now incorporate MATSAs into our earnings forecasts, contributing from February.
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By Tom Sartor
25 January 2022, 10:00 AM
Earnings trends remain remarkably stable despite the recent Omicron and supply chain disruptions. While the uncertain outlook might temper some good results, we still see scope for upside surprises in February.
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By Tom Sartor
21 January 2022, 12:30 PM
We think today’s price weakness includes an over-reaction to downgraded FY22 physicals and cost guidance.
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By Tom Sartor
06 December 2021, 7:00 AM
Morgans research analysts re-set their sector views, strategies and Best Ideas as markets adapt to new challenges posed by Omicron.
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By Tom Sartor
23 November 2021, 9:00 AM
Sep-Q results again exceeded expectations across the global leaders, but by a smaller margin and with supply chain issues and inflationary headwinds softening the outlook. Markets have a few reasons to be bumpier into 2022.
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By Tom Sartor
20 October 2021, 7:00 AM
Whitehaven Coal's (ASX:WHC) 1Q production was broadly in-line with our expectations. Physical market feedback continues to suggest that upside risk to our base-case coal price forecasts will persist into 2022.
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