[ad_1]
ASX-listed mining shares have performed on a strong note ever since their rebound in July. These shares have risen on a decent note, boosted by several macroeconomic catalysts. The rise in commodity prices has helped these stocks in the recent past.
For context, the ASX 300 Metals and Mining Index (ASX:XMM) has risen over 5% in the past month. On the other hand, both the ASX 200 and the ASX 300 have remained flat in the past month.
Several mining firms have announced their full-year financial results in the ongoing earnings season. Many companies have delivered strong earnings, with a positive FY23 guidance. Additionally, there are firms which have released new exploration updates.
In this article, we at Kalkine Media® will discuss the performance of four ASX-listed mining stocks in the ongoing earnings season.
(However, one needs to do thorough research before taking any exposure, as sinusoidal market trends are evident)
Evolution Mining Ltd (ASX:EVN)
Evolution Mining operates gold-related mining projects. On 18 August 2022, Evolution Mining announced its full-year financial results.
For the period ending 30 June 2022, Evolution posted a statutory net profit of AU$323.3 million. The company’s underlying net profit was AU$274.7 million against AU$354.3 million in FY21 after income taxes. Evolution Mining also reported strong earnings before interest, tax, depreciation and amortisation (EBITDA) margin of 44%, which was 49% in the financial year 2021.
The company’s EBITDA stood at AU$898.8 million in FY22 compared to AU$914.2 million in FY21. Evolution Mining’s board had announced a fully franked dividend of 3 cents per share.
On a year-to-date (YTD) basis, Evolution Mining’s shares fell more than 47% (as of 2 September 2022, at 12:15 PM (AEST). The stock has seen a decline of nearly 45% in the past 12 months. The past month’s slide stands at nearly 20%, while the stock price has fallen over 49% in the past six months. The 52-week high and low of the stock are AU$4.75 and AU$2.14, respectively.
Silver Lake Resources (ASX:SLR)
Silver Lake Resources is into gold production. The gold miner announced its earnings for the 2022 financial year on 29 August 2022. The company posted a 6% rise in revenue to AU$634.6 million for FY22.
The main reason for the increase of the company’s revenue was the sale of about 256,000 ounces of gold, equivalent at an average realised gold sale price of AU$2,482 per ounce. In the financial year 2021, the company’s revenue stood at AU$598.3 million from 255,573 ounces at a price of AU$2315 per ounce.
The company’s net profit saw a fall of 21% to AU$77.7 million. EBITDA fell 8% on the previous year to AU$267.6 million.
Silver Lake said in its ASX announcement, “Silver Lake executed several operational and strategic objectives through FY22. Our business demonstrated a high level of resilience to manage the prevailing operating climate and allowed Silver Lake to strengthen its operations and the growth outlook, in parallel with the commencement of capital returns to shareholders.”
In the year so far, the stock of Silver Lake Resources fell more than 31% (as of 2 September 2022, at 12:15 PM (AEST). There has been a dip of nearly 12% in the share price in the past year. While the past month’s fall was more than 17%, the share price has slipped over 35% in the last six months. The 52-week high and low of the stock are AU$2.24 and AU$1.20, respectively.
Northern Star Resources Ltd (ASX:NST)
Northern Star Resources is focused on the exploration and sale of refined gold. Northern Star Resources released its financial results on 29 August 2022.
Source: © Tomas1111 | Megapixl.com
Highlights from Northern Star Resources’ full-year results:
- Annualised gold sale of 1,561koz at an AISC of $1,633/oz in line with guidance
- Total revenue rose 35% to AU$3,735 million
- Underlying EBITDA gained 31% to AU$1,517 million
- Underlying net profit after tax (NPAT) fell 27% to AU$273 million
The company reported a robust balance sheet with cash and bullion of AU$628 million as of 30 June 2022. The board of the company also declared a fully franked final dividend of 11.5 cents per share, bringing the full-year dividend to 21.5 cents per share.
Commenting on the financial results, Northern Star’s managing director, Stuart Tonkin, said, “The announcement today of the first buy-back in Northern Star’s history presents a compelling value and confirms the Board’s confidence in our strong balance sheet and the cash generation outlook and aligns with our fiscal discipline and returns focus.”
On a YTD basis, Northern Star’s stock dipped over 22% (as of 2 September 2022, at 12:15 PM (AEST). The stock has seen a fall of 25% in the past 12 months. While the share price has slid about 28% in the past six months, the dip was over 9% in the past month. The 52-week high and low of the stock are AU$11.59 and AU$6.60, respectively.
Newcrest Mining (ASX:NCM)
Newcrest Mining explores and sells gold and gold/copper concentrates. The ASX-listed gold explorer announced its full-year financial results for 2022 on 19 August 2022. Newcrest Mining’s statutory and underlying profit for the six months ending 30 June 2022 was US$872 million. The board of Newcrest Mining declared a fully franked final dividend of 20 cents (US coin) per share.
The miner attributed the lower underlying profit for the period to lower production volumes at Cadia. The Group Ore Reserves were estimated to contain nearly 29 million ounces of silver, 11 million tonnes of copper, 0.099 million tonnes of molybdenum, and 61 million ounces of gold, as of 30 June 2022.
Image Source: © 2022 Kalkine Media ®
In the year so far, shares of Newcrest Mining have fallen nearly 31% (as of 2 September 2022, at 12:15 PM (AEST). The shares have seen a slide of more than 31% in the past year. While the past month’s fall was over 13%, the share price has slipped about 34% in the past six months. The 52-week high and low of the stock are AU$28.96 and AU$16.56, respectively.
[ad_2]
Source link
