By Adrian Prendergast
18 February 2021, 10:00 AM
Santos' second half result followed expectations. Unsurprisingly, the result focused on the FX-impacted cost guidance for 2021, in-line with pressure being felt across the resources industry.
Read more...
By Adrian Prendergast
17 February 2021, 12:00 PM
We have upgraded our iron ore forecasts for the next three years.
While trading near our revised targets, we see robust earnings and dividends as
increasingly important in the current global climate.
Read more...
By Adrian Prendergast
17 February 2021, 9:00 AM
BHP certainly had the ammunition for it, but we had not counted on the company
paying out 85% of earnings for a record interim dividend in 1H21. Further, BHP has hoisted potash into its circle of most preferred “future facing” commodities, along with copper and nickel.
Read more...
By Adrian Prendergast
01 February 2021, 5:00 PM
Fortescue Metal Group posted a strong 2Q21 result, though it came with the warning that FMG was conducting a detailed review of the budget and schedule for its Iron Bridge magnetite project.
Read more...
By Adrian Prendergast
22 January 2021, 1:00 PM
There was a mixed operational result from South32, although generally ahead of our estimates. Now trading in line with our target price we lower our rating to Hold.
Read more...
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...
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...
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...
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...
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...