Video: Energy and copper update - Chris Brown, Senior Analyst By Chris Brown 13 January 2021, 9:00 AM Morgans Senior Analyst Chris Brown talks about the effects of projected growth in Electric Vehicle production, in particular on the demand for copper. Chris also provides insight into ASX-listed copper producers and associated wannabees. Read more...
Fortescue Metals Group: Better to stick with what works By Adrian Prendergast 09 December 2020, 12:00 PM With limited experience in energy, we see Fortescue (ASX:FMG) as poorly placed to enter renewables – a space characterised by surging competition, dominated by energy super majors, and deteriorating return profiles. Fortescue's iron ore business meanwhile is going from strength-to-strength. Read more...
Australia Strategy: 2021 sector outlooks and strategies By Tom Sartor 02 December 2020, 9:00 AM Morgans research analysts re set their sector views, strategies and best stock ideas ahead of an accelerating economic recovery into 2021. The November market bounce was stunning, but we remind investors to continually re asses their portfolio exposures and to prepare for ongoing opportunities as we expect bumps in the road ahead. Read more...
ALS: Firmly on the recovery trajectory By Tom Sartor 19 November 2020, 3:45 PM 1H21 underlying financials met the market’s expectations helped by thorough disclosure through COVID. All indications suggest 1Q21 will mark the low-point in activity, with resilient margins and much stronger 2Q sample flows seen continuing into 2H21. We forecast earnings to recover back to pre-COVID levels during 1H22, contingent on avoiding further hard lockdowns in key geographies. Our blended valuation is based on our FY22 forecasts and adjus... Read more...
Commodities: Top sector preferences By Adrian Prendergast 16 November 2020, 2:25 PM Given our macro view on sector rotation into cyclicals, and supported by our view on US dollar weakness in 2021, now appears a good time to invest in resources. Read more...
Oil and Gas: A plan to have a plan By Adrian Prendergast 22 September 2020, 9:25 AM We see the oil & gas sector as a Covid-exit trade that has so far been overlooked. Given market jitters around energy, we expect a broad sector re-rating to trail some other key Covid trades. This has left us favouring those oil & gas players with defendable (low risk) earnings platforms and healthy balance sheets. Read more...
BHP Group: Starting to make some moves By Adrian Prendergast 20 August 2020, 8:51 AM Another strong year for BHP, with strong iron ore prices and capital discipline again combining for a healthy result, albeit just short of expectations. Read more...
Woodside Petroleum: Pulls trigger on Sangomar option By Adrian Prendergast 19 August 2020, 10:21 AM Woodside Petroleum (ASX:WPL) has triggered the pre-emptive option on the sale of partner Cairn Energy's stake in its Senegal interests. Read more...
Rio Tinto – Iron ore drives first half By Adrian Prendergast 30 July 2020, 9:00 AM 1H20 result was ahead of consensus estimates, with ongoing iron ore strength helping Rio Tinto (ASX:RIO) to plug a gap left by lower aluminium and copper prices. We downgrade to a Hold rating on recent share price strength, while still considering RIO a core holding for a wide group of investor types. Read more...
Rio Tinto - Approaching strategy crossroads By Adrian Prendergast 21 July 2020, 10:38 AM A good first half from Rio Tinto (ASX:RIO) overall, with solid volumes vs soft metal prices. Iron ore makes up 80% of EBITDA, but won't always be this strong. Does RIO use the opportunity to change its business? Read more...