Our Trading Operations Manager, Roberto Russo, discusses stand-out companies in the month of August.
August has been a tough month for a lot of investors, with reporting season trading being one of pure difficulty. Surprises came left, right, and centre with strong BUY’s proving to be disappointing, and strong SELL’s surprising us all with outstanding numbers.
Let's take a look at the highlights in August.
Mineral Resources (ASX:MIN)
Despite MIN putting out somewhat disappointing 2022FY results, this month they have reached an all-time high off the back of this extraordinary lithium run continuing for these large-cap producers, as investors ‘shoo’ away the results and continue to pile in.
*07/09/2022
City Chic Collective (ASX:CCX) / Accent Group Limited (ASX:AX1)
Two retail stocks, two very different results. CCX showed that growth has slowed despite their comments moving into FY23 to be in line, with AX1 putting out mixed results due to Covid-19 store closures, but sales growth looks to have continued strong despite this.
*07/09/2022
McMillian Shakespeare (ASX:MMS)
MMS went into reporting season with question marks around them, a mixture of overweight reports and holds. The standout of their report which looks to have set the share price rocketing was their new dividend policy. Their dividend is now 100% fully franked and 70-100% of UNPATA, with a variance of +145% compared to their FY21.
*07/09/2022
Cobre Limited (ASX:CBE)
On 01/08, CBE announced that their second diamond drill hole intersected abundant chalcocite mineralization. After this intersection, their third drillcore also hit, followed by infill drilling. This looks to be a significant high-grade discovery pushing the share price from 0.05c to what it is today at 0.50c.
*07/09/2022
Santos Limited (ASX:STO)
Santos beat expectations vs Factset across the board and included a much stronger buyback into the mix, despite results day not being rewarding, Santos has found themselves situated as a strong player in the energy space after a strong report.
*07/09/2022
Feel free to contact me directly about any of the mentioned stocks or pop into our Adelaide Office!
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