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Weekly Ratings, Targets, Forecast Changes – 16-12-22

Weekly Reports | Dec 19 2022

This story features NEW HOPE CORPORATION LIMITED, and other companies. For more info SHARE ANALYSIS: NHC

Weekly update on stockbroker recommendation, target price, and earnings forecast changes.

By Mark Woodruff

Guide:

The FNArena database tabulates the views of seven major Australian and international stock brokers: Citi, Credit Suisse, Macquarie, Morgan Stanley, Morgans, Ord Minnett and UBS.

For the purpose of broker rating correlation, Outperform and Overweight ratings are grouped as Buy, Neutral is grouped with Hold and Underperform and Underweight are grouped as Sell to provide a Buy/Hold/Sell (B/H/S) ratio.

Ratings, consensus target price and forecast earnings tables are published at the bottom of this report.

Summary

Period: Monday December 12 to Friday December 16, 2022
Total Upgrades: 6
Total Downgrades: 20
Net Ratings Breakdown: Buy 54.42%; Hold 37.10%; Sell 8.48%

For the week ending Friday December 16 there were six upgrades and twenty downgrades (eleven resource companies) to ASX-listed companies covered by brokers in the FNArena database.

An update from Bendigo & Adelaide Bank for the first five months of FY23 revealed stronger net interest margin trends than brokers had anticipated, highlighting significant leverage to higher interest rates and favourable deposit pricing, according to Morgan Stanley.

Macquarie downgraded its rating to Neutral from Outperform, believing upside earnings risk is now better reflected in expectations, and deposit margins likely past their peak. Citi also downgraded to Neutral from Buy after recent share price gains.

This broker felt the bank is close to posting peak net interest margins and observed loan volumes are slowing (the balance sheet is contracting), headwinds are building for asset quality, and costs are rising, all of which should dampen further gains.

Another to receive two ratings downgrades from separate brokers last week was Rio Tinto. UBS felt the share price had climbed too far during a rally by iron ore miners in recent weeks and downgraded its rating to Sell from Neutral. 

Ord Minnett agreed with UBS on overvaluation and downgraded its own rating to Lighten from Hold. While Rio is currently benefiting from the China reopening theme, the analyst believed fatigue on the trade for miners may be imminent, given strong recent share performances and 2023 recession concerns.

While the commodity team at Citi expects 2023 to be a challenging year given slowdowns in China, the EU and the US, higher-for-longer thermal coal prices are still anticipated. As a result, the broker’s ratings for both Whitehaven Coal and New Hope were raised to Buy from Neutral.

Because Citi also raised its target for New Hope to $6.70 from $4.50, the stock registered the only material change to average target price in the FNArena database last week. The average target of four brokers rose to $6.95 from $6.40.

The only material changes for average forecast earnings in the database last week were positive, and several of those related to resources stocks following sector updates by both Citi, Macquarie, UBS and Ord Minnett.

29Metals headed the upgrade table below after Macquarie raised its short-term nickel forecasts, which also benefited forecast nickel earnings for peers Panaromic Resources and Mincor Resources.

Next on the table is Fortescue Metals, on higher near-term iron ore price expectations by Citi, Macquarie and UBS.

As noted above for Rio Tinto, Ord Minnett was more cautious on the recent China reopening rally, and noted shares this year of BHP Group, Rio Tinto and Fortescue have risen by 25%, 14% and 5%, respectively, outperforming iron ore which has fallen by -8%. The broker’s rating for Fortescue was downgraded to Lighten from Hold.

South32 also appeared in the earnings upgrade table. Ord Minnett raised its rating to Buy from Hold, as the company’s share price has been a been a laggard in recent weeks by comparison to the rally of the big, diversified miners.

Tyro Payments received an earnings upgrade by Buy-rated Ord Minnett last week, after a period of research restriction.

Management has now ceased takeover discussions with Westpac and Potentia.

While the broker suggested some caution in the current macroeconomic backdrop, given the company's exposure to discretionary expenditure, underlying momentum heading into 2023 was highlighted.

In reaction to the current macro backdrop, the analyst points out Tyro is adapting by shifting to a more profitable growth model.

Ord Minnett was also behind an earnings upgrade for Brickworks, following the release of a first half trading update which came in ahead of consensus expectations.

The company has benefited from several one-offs, according to the broker, including the sale of Oakdale East Stage 2 for $301m and from revaluation profits of $112m in the half. 

Near-term, the analyst expects underlying property earnings will continue to grow, only to be offset by slowing housing activity in late FY23 and FY24. 

Ord Minnett’s Buy rating was retained and its target price increased to $32.00 from $29.90.

Total Buy recommendations comprise 54.42% of the total, versus 37.10% on Neutral/Hold, while Sell ratings account for the remaining 8.48%.

Upgrade

NEW HOPE CORPORATION LIMITED ((NHC)) Upgrade to Buy from Neutral by Citi .B/H/S: 4/0/0

Citi’s global commodity team has increased forecast FY23 prices for copper, iron ore and nickel and expects higher-for-longer thermal coal prices. For aluminium, the broker has turned more bearish in the medium term.

On a 12-month view to the 4Q of 2023, Citi forecasts rise by 3-12% for iron ore, aluminium and manganese prices, but a pull-back is expected from today’s nickel/thermal coal prices of -25% and -23%, respectively.

The overall more bullish view on coal leads to material forecast upgrades for New Hope and the rating is upgraded to Buy from Neutral. The target rises to $6.70 from $4.50.

PILBARA MINERALS LIMITED ((PLS)) Upgrade to Add from Hold by Morgans .B/H/S: 2/1/3

Pilbara Minerals has announced a December BMX auction price for spodumene, which represents a -3% decline on November’s price.

As a result of this announcement, the company's share price fell by -9% and the broader Lithium sector also declined.

Morgans feels this was a significant over-reaction and takes the opportunity to upgrade its rating for Pilbara to Add from Hold, having just initiated coverage yesterday. 

While very short-term sentiment towards the sector could weaken further, the analyst believes investors may be convinced by strong 2Q cash flows and the potential for capital management. The $4.70 target is unchanged.

SOUTH32 LIMITED ((S32)) Upgrade to Buy from Hold by Ord Minnett .B/H/S: 6/1/0

While the share prices of the big diversified miners have rallied strongly in recent weeks, South32 has been a laggard. A (brief) review of the mining sector sees Ord Minnett upgrade to Buy from Hold.

South32 remains the broker's preferred base metal play.

VIVA LEISURE LIMITED ((VVA)) Upgrade to Buy from Neutral by Citi .B/H/S: 1/0/0

Citi upgrades Viva Leisure to Buy from Neutral, reflecting stronger than expected momentum in the company’s core business combined with a weaker share price.

While Viva’s greenfield rollout has been slower than expected, and there is medium term risk around the company’s higher priced gym offerings potentially underperforming in a weaker consumer environment, the broker sees current valuation as undemanding given long-term growth prospects.

Target rises to $1.46 from $1.39.

WESTGOLD RESOURCES LIMITED ((WGX)) Upgrade to Outperform from Neutral by Macquarie .B/H/S: 1/0/0

Despite retaining a fairly bearish outlook for gold Macquarie's commodities team has made minor upgrades to its near-term outlook, and updated its sector coverage accordingly. 

Within its small cap gold stocks, Ramelius Resources ((RMS)) sees the largest earnings per share increase at 111% for FY23, followed by Regis Resources ((RRL)) at 42%, Westgold Resources at 27% and Silver Lake Resources ((SLR)) at 24%. 

The rating is upgraded to Outperform from Neutral and the target price of $0.90 is retained.

WHITEHAVEN COAL LIMITED ((WHC)) Upgrade to Buy from Neutral by Citi .B/H/S: 7/0/0

Citi’s global commodity team has increased forecast FY23 prices for copper, iron ore and nickel and expects higher-for-longer thermal coal prices. For aluminium, the broker has turned more bearish in the medium term.

On a 12-month view to the 4Q of 2023, Citi forecasts rise by 3-12% for iron ore, aluminium and manganese prices, but a pull-back is expected from today’s nickel/thermal coal prices of -25% and -23%, respectively.

The overall more bullish view on coal leads to material forecast upgrades for Whitehaven Coal and the rating is upgraded to Buy from Neutral. The target rises to $11.10 from $8.00.

Downgrade

BENDIGO & ADELAIDE BANK LIMITED ((BEN)) Downgrade to Neutral from Outperform by Macquarie and Downgrade to Neutral from Buy by Citi .B/H/S: 3/3/0

Bendigo & Adelaide Bank's latest update demonstrates strong performance over the first five months of the year. According to Macquarie, improved deposit spreads and rising swap curves have offset the impact of margin pressures and rising expenses for the bank.

Despite the bank likely being past peak deposit margins, the broker considers the risk-reward trade off now more balanced for investors with upside earnings risk better reflected in expectations. 

The rating is downgraded to Neutral from Outperform and the target price increases to $9.50 from $9.25.

Bendigo & Adelaide Bank's trading update met Citi's expectations.

The broker believes the bank is close to posting peak net interest margins and observes loan volumes are slowing (the balance sheet contracting); asset quality headwinds; and rising costs – all of which should dampen further gains.

Given the above, and the recent share price rally, Citi downgrades to Neutral from Buy. Target price rises to $10 from $9.75.

BHP GROUP LIMITED ((BHP)) Downgrade to Sell from Neutral by UBS .B/H/S: 1/4/1

Despite raising commodity price forecasts and lifting BHP Group's target to $40.00 from $35.50, UBS feels the share price has climbed too far and downgrades its rating to Sell from Neutral.

Apart from an expensive share price, the broker notes a fragile macroeconomic backdrop, weak iron ore fundamentals and China's reopening challenge.

BANK OF QUEENSLAND LIMITED ((BOQ)) Downgrade to Neutral from Buy by Citi .B/H/S: 0/6/0

Citi suspects Bank of Queensland's CEO resigned ahead of very little profit growth apparent for the bank after the RBA cash rate hits a high next year, given sharply rising deposit rates, slowing lending growth and further risk & compliance-led cost growth.

The broker has cut earnings forecasts on the assumption of weaker margins, and the path to returns above the cost of capital look less and less likely.

Downgrade to Neutral from Buy. Target falls to $7.30 from $8.75.

BREVILLE GROUP LIMITED ((BRG)) Downgrade to Underperform from Neutral by Credit Suisse .B/H/S: 4/1/1

Credit Suisse anticipates consensus downgrades for retailers exposed to Australian household goods due to a worsening outlook for FY23 earnings. It's felt interest rate increases, falling house prices and increasing promotional intensity will weigh.

The broker downgrades its rating for Breville Group to Underperform from Neutral. Small appliance sales are expected to decline, with competitors already having reported declining sales in almost all global regions.

The target is reduced to $18.61 from $22.28.

CAPRICORN METALS LIMITED ((CMM)) Downgrade to Underperform from Neutral by Macquarie .B/H/S: 0/0/1

Despite retaining a fairly bearish outlook for gold Macquarie's commodities team has made minor upgrades to its near-term outlook, and updated its sector coverage accordingly. 

Among those within its small cap gold stocks to be downgraded are Perseus Mining ((PRU)), Gold Road Resources ((GOR)) and Capricorn Metals, with all downgrades reflecting recent share price movement. 

The rating is downgraded to Underperform from Neutral and the target price increases to $4.20 from $4.00.

EVOLUTION MINING LIMITED ((EVN)) Downgrade to Neutral from Buy by UBS .B/H/S: 3/3/1

UBS downgrades its rating for Evolution Mining to Neutral from Buy on valuation grounds.

The broker favours gold in 2023 with the price expected to benefit from an interest rate pivot by the US Federal Reserve and a declining US dollar.

The target price rises to $2.80 from $2.70.

FORTESCUE METALS GROUP LIMITED ((FMG)) Downgrade to Lighten from Hold by Ord Minnett .B/H/S: 0/1/5

Iron ore miners have rallied strongly in recent weeks despite the iron ore price being around half of what it was last year, Ord Minnett notes.

China’s reopening appears to be a reality, the broker suggests, but sentiment-wise, it’s also the consensus thinking. Fatigue on the trade for the miners could start to set in soon, given strong recent performance and 2023 recession concerns.

Ord Minnett thus downgrades Fortescue Metals to Lighten from Hold.

FISHER & PAYKEL HEALTHCARE CORPORATION LIMITED ((FPH)) Downgrade to Equal-weight from Overweight by Morgan Stanley .B/H/S: 1/3/0

According to Morgan Stanley, healthcare stocks appear expensive relative to the last time the Australian 10-year bond yield was at around 4%, in 2013.

The broker identifies stocks such as CSL, where the growth outlook is now better than in 2013 and, hence, price earnings multiples may have less downside.

For Fisher & Paykel Healthcare, Morgan Stanley downgrades its rating to Equal-weight from Overweight following a 20% rally in share price over the last month after reporting 1H results. The target of NZ$22.90 is unchanged.

GOLD ROAD RESOURCES LIMITED ((GOR)) Downgrade to Neutral from Outperform by Macquarie .B/H/S: 2/1/0

Despite retaining a fairly bearish outlook for gold Macquarie's commodities team has made minor upgrades to its near-term outlook, and updated its sector coverage accordingly. 

Among those within its small cap gold stocks to be downgraded are Perseus Mining ((PRU)), Gold Road Resources and Capricorn Metals ((CMM)), with all downgrades reflecting recent share price movement. 

The rating is downgraded to Neutral from Outperform and the target price increases to $1.70 from $1.50.

ILUKA RESOURCES LIMITED ((ILU)) Downgrade to Sell from Neutral by Citi .B/H/S: 3/2/1

Citi’s global commodity team has increased forecast FY23 prices for copper, iron ore and nickel and expects higher-for-longer thermal coal prices. For aluminium, the broker has turned more bearish in the medium term.

On a 12-month view to the 4Q of 2023, Citi forecasts rise by 3-12% for iron ore, aluminium and manganese prices, but a pull-back is expected from today’s nickel/thermal coal prices of -25% and -23%, respectively.

The rating for Iluka Resources is downgraded to Sell from Neutral given an around 10% share price rally over the last month, despite ongoing weakness in China property completions. The $9.50 target price is unchanged.

JB HI-FI LIMITED ((JBH)) Downgrade to Neutral from Outperform by Credit Suisse .B/H/S: 2/4/1

Credit Suisse anticipates consensus downgrades for retailers exposed to Australian household goods due to a worsening outlook for FY23 earnings. It's felt interest rate increases, falling house prices and increasing promotional intensity will weigh.

The analyst expects sales for the electrical retail space will fall below trend in the first and second quarters of 2023.

For JB Hi-Fi, the broker feels a reduction in entertainment-related product and average selling price will hurt sales. It's felt there may be a better entry point for shares during the 1H of 2023 and the rating is downgraded to Neutral from Outperform.

The target falls to $45.73 from $55.11.

MINERAL RESOURCES LIMITED ((MIN)) Downgrade to Neutral from Buy by UBS .B/H/S: 3/2/0

Despite raising commodity price forecasts and lifting Mineral Resources' target to $93 from $83.30, UBS feels the share price has climbed too far and downgrades its rating to Neutral from Buy.

Apart from an expensive share price, the broker notes a fragile macroeconomic backdrop, weak iron ore fundamentals and China's reopening challenge.

NORTHERN STAR RESOURCES LIMITED ((NST)) Downgrade to Neutral from Buy by UBS .B/H/S: 4/2/0

UBS downgrades its rating for Northern Star Resources to Neutral from Buy on valuation grounds after a faster-than-expected share price rally.

The broker favours gold in 2023 with the price expected to benefit from an interest rate pivot by the US Federal Reserve and a declining US dollar.

The target price rises to $11.10 from $11.00.

PERSEUS MINING LIMITED ((PRU)) Downgrade to Neutral from Outperform by Macquarie .B/H/S: 2/1/0

Despite retaining a fairly bearish outlook for gold Macquarie's commodities team has made minor upgrades to its near-term outlook, and updated its sector coverage accordingly. 

Among those within its small cap gold stocks to be downgraded are Perseus Mining, Gold Road Resources ((GOR)) and Capricorn Metals ((CMM)), with all downgrades reflecting recent share price movement. 

The rating is downgraded to Neutral from Outperform and the target price increases to $2.20 from $1.90.

RIO TINTO LIMITED ((RIO)) Sell by UBS and Downgrade to Lighten from Hold by Ord Minnett and Downgrade to Sell from Neutral by UBS .B/H/S: 2/3/1

Despite raising commodity price forecasts and lifting Rio Tinto's target to $95.00 from $90.00, UBS feels the share price has climbed too far and downgrades its rating to Sell from Neutral.

Apart from an expensive share price, the broker notes a fragile macroeconomic backdrop, weak iron ore fundamentals and China's reopening challenge.

The analyst sees operational improvements, but notes iron ore is the key driver of the share price.

Iron ore miners have rallied strongly in recent weeks despite the iron ore price being around half of what it was last year, Ord Minnett notes.

China’s reopening appears to be a reality, the broker suggests, but sentiment-wise, it’s also the consensus thinking. Fatigue on the trade for the miners could start to set in soon, given strong recent performance and 2023 recession concerns.

Ord Minnett thus downgrades Rio Tinto to Lighten from Hold.

Despite raising commodity price forecasts and lifting Rio Tinto's target to $95.00 from $90.00, UBS feels the share price has climbed too far and downgrades its rating to Sell from Neutral.

Apart from an expensive share price, the broker notes a fragile macroeconomic backdrop, weak iron ore fundamentals and China's reopening challenge.

The analyst sees operational improvements, but notes iron ore is the key driver of the share price.

SANDFIRE RESOURCES LIMITED ((SFR)) Downgrade to Neutral from Buy by UBS .B/H/S: 3/3/1

Following a rally in share price, thanks to a strong bounce in the copper price and new management at Sandfire Resources, UBS lowers its rating to Neutral from Buy on valuation.

The target is increased to $5.70 from $5.00.

SIMS LIMITED ((SGM)) Downgrade to Lighten from Hold by Ord Minnett .B/H/S: 0/4/1

A (brief) review of the mining sector sees Ord Minnett downgrade Sims to Lighten from Hold.

Total Recommendations
Recommendation Changes

Broker Recommendation Breakup

Broker Rating

 

Order Company New Rating Old Rating Broker
Upgrade
1 NEW HOPE CORPORATION LIMITED Buy Neutral Citi
2 PILBARA MINERALS LIMITED Buy Neutral Morgans
3 SOUTH32 LIMITED Buy Neutral Ord Minnett
4 VIVA LEISURE LIMITED Buy Neutral Citi
5 WESTGOLD RESOURCES LIMITED Buy Neutral Macquarie
6 WHITEHAVEN COAL LIMITED Buy Neutral Citi
Downgrade
7 BANK OF QUEENSLAND LIMITED Neutral Buy Citi
8 BENDIGO & ADELAIDE BANK LIMITED Neutral Buy Macquarie
9 BENDIGO & ADELAIDE BANK LIMITED Neutral Buy Citi
10 BHP GROUP LIMITED Sell Neutral UBS
11 BREVILLE GROUP LIMITED Sell Neutral Credit Suisse
12 CAPRICORN METALS LIMITED Sell Neutral Macquarie
13 EVOLUTION MINING LIMITED Neutral Buy UBS
14 FISHER & PAYKEL HEALTHCARE CORPORATION LIMITED Neutral Buy Morgan Stanley
15 FORTESCUE METALS GROUP LIMITED Sell Neutral Ord Minnett
16 GOLD ROAD RESOURCES LIMITED Neutral Buy Macquarie
17 ILUKA RESOURCES LIMITED Sell Neutral Citi
18 JB HI-FI LIMITED Neutral Buy Credit Suisse
19 MINERAL RESOURCES LIMITED Neutral Buy UBS
20 NORTHERN STAR RESOURCES LIMITED Neutral Buy UBS
21 PERSEUS MINING LIMITED Neutral Buy Macquarie
22 RIO TINTO LIMITED Sell Neutral Ord Minnett
23 RIO TINTO LIMITED Sell Sell UBS
24 SANDFIRE RESOURCES LIMITED Neutral Buy UBS
25 SIMS LIMITED Sell Neutral Ord Minnett

Target Price

Positive Change Covered by > 2 Brokers

Order Symbol Company New Target Previous Target Change Recs
1 NHC NEW HOPE CORPORATION LIMITED 6.950 6.375 9.02% 4
2 GOR GOLD ROAD RESOURCES LIMITED 1.850 1.703 8.63% 3
3 FMG FORTESCUE METALS GROUP LIMITED 16.336 15.236 7.22% 7
4 NST NORTHERN STAR RESOURCES LIMITED 10.817 10.208 5.97% 6
5 PRU PERSEUS MINING LIMITED 2.133 2.033 4.92% 3
6 BEN BENDIGO & ADELAIDE BANK LIMITED 10.150 9.717 4.46% 6
7 RIO RIO TINTO LIMITED 109.286 104.857 4.22% 7
8 EVN EVOLUTION MINING LIMITED 2.771 2.664 4.02% 7
9 WHC WHITEHAVEN COAL LIMITED 11.464 11.164 2.69% 7
10 SIQ SMARTGROUP CORPORATION LIMITED 6.042 5.930 1.89% 6

Negative Change Covered by > 2 Brokers

Order Symbol Company New Target Previous Target Change Recs
1 HVN HARVEY NORMAN HOLDINGS LIMITED 4.425 4.682 -5.49% 6
2 JBH JB HI-FI LIMITED 45.576 47.735 -4.52% 7
3 GNC GRAINCORP LIMITED 9.300 9.580 -2.92% 4
4 BRG BREVILLE GROUP LIMITED 23.718 24.330 -2.52% 6
5 APE EAGERS AUTOMOTIVE LIMITED 14.024 14.295 -1.90% 7
6 TYR TYRO PAYMENTS LIMITED 1.680 1.700 -1.18% 5

Earning Forecast

Positive Change Covered by > 2 Brokers

Order Symbol Company New EF Previous EF Change Recs
1 29M 29METALS LIMITED 2.158 1.298 66.26% 5
2 FMG FORTESCUE METALS GROUP LIMITED 226.387 190.408 18.90% 7
3 TYR TYRO PAYMENTS LIMITED -0.862 -1.062 18.83% 5
4 S32 SOUTH32 LIMITED 48.204 40.634 18.63% 7
5 BKW BRICKWORKS LIMITED 254.560 217.340 17.13% 5
6 GOR GOLD ROAD RESOURCES LIMITED 8.200 7.450 10.07% 3
7 RRL REGIS RESOURCES LIMITED 7.960 7.283 9.30% 6
8 NST NORTHERN STAR RESOURCES LIMITED 28.922 26.505 9.12% 6
9 EVN EVOLUTION MINING LIMITED 15.971 14.771 8.12% 7
10 RMS RAMELIUS RESOURCES LIMITED 3.300 3.067 7.60% 3

Negative Change Covered by > 2 Brokers

Order Symbol Company New EF Previous EF Change Recs
1 MIN MINERAL RESOURCES LIMITED 1090.000 1158.320 -5.90% 5
2 GNC GRAINCORP LIMITED 94.750 99.400 -4.68% 4
3 COE COOPER ENERGY LIMITED 2.100 2.200 -4.55% 5
4 IDX INTEGRAL DIAGNOSTICS LIMITED 11.602 12.146 -4.48% 5
5 AWC ALUMINA LIMITED 5.388 5.619 -4.11% 5
6 SHL SONIC HEALTHCARE LIMITED 161.500 165.667 -2.52% 6
7 PNI PINNACLE INVESTMENT MANAGEMENT GROUP LIMITED 37.850 38.750 -2.32% 4
8 WOW WOOLWORTHS GROUP LIMITED 131.083 133.929 -2.13% 7
9 SUN SUNCORP GROUP LIMITED 88.257 89.971 -1.91% 6
10 WHC WHITEHAVEN COAL LIMITED 409.843 416.086 -1.50% 7

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CHARTS

BEN BHP BOQ BRG CMM EVN FMG FPH GOR ILU JBH MIN NHC NST PLS PRU RIO RMS RRL S32 SFR SGM SLR VVA WGX WHC

For more info SHARE ANALYSIS: BEN - BENDIGO & ADELAIDE BANK LIMITED

For more info SHARE ANALYSIS: BHP - BHP GROUP LIMITED

For more info SHARE ANALYSIS: BOQ - BANK OF QUEENSLAND LIMITED

For more info SHARE ANALYSIS: BRG - BREVILLE GROUP LIMITED

For more info SHARE ANALYSIS: CMM - CAPRICORN METALS LIMITED

For more info SHARE ANALYSIS: EVN - EVOLUTION MINING LIMITED

For more info SHARE ANALYSIS: FMG - FORTESCUE LIMITED

For more info SHARE ANALYSIS: GOR - GOLD ROAD RESOURCES LIMITED

For more info SHARE ANALYSIS: ILU - ILUKA RESOURCES LIMITED

For more info SHARE ANALYSIS: JBH - JB HI-FI LIMITED

For more info SHARE ANALYSIS: MIN - MINERAL RESOURCES LIMITED

For more info SHARE ANALYSIS: NHC - NEW HOPE CORPORATION LIMITED

For more info SHARE ANALYSIS: NST - NORTHERN STAR RESOURCES LIMITED

For more info SHARE ANALYSIS: PLS - PILBARA MINERALS LIMITED

For more info SHARE ANALYSIS: PRU - PERSEUS MINING LIMITED

For more info SHARE ANALYSIS: RIO - RIO TINTO LIMITED

For more info SHARE ANALYSIS: RMS - RAMELIUS RESOURCES LIMITED

For more info SHARE ANALYSIS: RRL - REGIS RESOURCES LIMITED

For more info SHARE ANALYSIS: S32 - SOUTH32 LIMITED

For more info SHARE ANALYSIS: SFR - SANDFIRE RESOURCES LIMITED

For more info SHARE ANALYSIS: SGM - SIMS LIMITED

For more info SHARE ANALYSIS: SLR - SILVER LAKE RESOURCES LIMITED

For more info SHARE ANALYSIS: VVA - VIVA LEISURE LIMITED

For more info SHARE ANALYSIS: WGX - WESTGOLD RESOURCES LIMITED

For more info SHARE ANALYSIS: WHC - WHITEHAVEN COAL LIMITED