Morgans Blog | Morgans

Stanmore Resources: Dramatic over-reaction

22 June 2022, 9:00 AM

We adjust our modelling inputs around prices and costs (both slightly higher) and for the new QLD royalty regime to apply from July 1.

Woodside Energy: Deal greatly enhances fundamentals

By Adrian Prendergast

31 May 2022, 10:00 AM

We have merged our Woodside Energy (ASX:WDS) and BHP-Petroleum models, adjusting our estimates for the new combined business.

BHP Group: Rebasing expectations post demerger

By Adrian Prendergast

26 May 2022, 10:00 AM

We have removed BHP Group’s (ASX:BHP) Petroleum business from our group forecasts and valuation.

Fortescue Metals Group: Strong shipments but costs suffer

By Adrian Prendergast

29 April 2022, 8:30 AM

A surprisingly strong share price reaction to a mixed quarter for Fortescue Metals Group (ASX:FMG), with rising investor sentiment on strong shipments driving revenue despite costs slipping on all fronts.

Newcrest Mining: Q3 falls short of expectation

By Mat Collings

29 April 2022, 8:00 AM

Newcrest Mining (ASX:NCM) is guiding to a strong Q4, needing at least 600koz of production to meet the lower end of revised guidance.

South32: China COVID fears uncover value

By Adrian Prendergast

27 April 2022, 10:00 AM

A mixed 3Q22 quarter from South32 (ASX:S32), with some production beats/misses and some predictable increases to unit cost guidance.

OZ Minerals: An eye to 2H West Musgrave FID

By Tom Sartor

26 April 2022, 10:00 AM

Rising execution risks (timing, capex escalation) appear to be tempering the premium the market had previously built into OZ Minerals' (ASX:OZL) growth projects, and where WMP approval in the 2H may actually prolong that trend.

BHP Group: Performing well against headwinds

By Adrian Prendergast

22 April 2022, 9:30 AM

A good underlying performance in 3Q22, with BHP Group (ASX:BHP) contending with WA’s first COVID-19 wave at WAIO and Nickel West, and Omicron hitting Escondida.