2 ASX shares this fund manager thinks could be cheap Tristan Harrison
Spheria Asset Management has identified two ASX shares that it believes could be good value.
The listed investment company (LIC)
Spheria Emerging Companies Ltd (ASX: SEC) releases a monthly update and tells investors about which shares have performed well and shares some comments about them.
These two ASX shares are ones that were included in the latest update:
Monadelphous is one of the largest Australian engineering groups providing construction, maintenance and industrial service to the resources, energy and infrastructure sectors. It’s involved in some of Australia’s biggest and most complex projects and facilities.
Iron ore exports to China through Port Hedland in the first four months of 2021 are now well behind the level for the same period of 2020, despite last year seeing a hit from the pandemic and a rebound in Chinese crude steel production so far this year.
Exports through the world’s biggest iron ore port to the world’s biggest market fell 7.5% in the January-February period of this year from the first four (Covid-hit) months of 2020.
That’s despite a 3.6% rise in total iron ore exports from Port Hedland so far in 2021 compared to same period of 2020.
News of the shortfall would normally help maintain upward pressure on iron ore prices, but this time the news came as prices were in the middle of a major shakeout that saw them slide 13% on Friday (See separate story).
Original-Research: SunMirror AG (von Sphene Capital GmbH): Buy Einstufung von Sphene Capital GmbH zu SunMirror AG Unternehmen: SunMirror AG Empfehlung: Buy Kursziel auf Sicht von: 36 Monate Letzte Ratingänderung: - Placement of a convertible bond and LOI for a capital increase We reiterate our Buy rating for SunMirror and increase our fully diluted price target to EUR 174.30 per share from EUR 68.90 on lower discount rates and a strong raise in peer group multiples. We see additional short- and medium-term upside potential, should the management decide for a trade sale of its most valuable mineral reserve, Cape Lambert South, to a strategic investor or succeed in exploiting that asset in a capital-efficient manner. Additional upside to our price target could arise, should the company use the proceeds from the capital increase for acquiring further strategic mineral assets significantly below market values.
Letzte Ratingänderung: -
Placement of a convertible bond and LOI for a capital increase
We reiterate our Buy rating for SunMirror and increase our fully diluted
price target to EUR 174.30 per share from EUR 68.90 on lower discount rates
and a strong raise in peer group multiples. We see additional short- and
medium-term upside potential, should the management decide for a trade sale
of its most valuable mineral reserve, Cape Lambert South, to a strategic
investor or succeed in exploiting that asset in a capital-efficient manner.
Additional upside to our price target could arise, should the company use
the proceeds from the capital increase for acquiring further strategic
ASX takes a breather after 14-month high; cryptocurrency Dogecoin soars
Posted Yesterday at 9:56pm
ThuThursday 15
updated 2
The Dow Jones index closed above 34,000 for the first time.
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The Australian share market has pulled back after reaching a 14-month high yesterday, despite more records on Wall Street overnight.
Key points:
US stocks hit record levels as major companies posted strong quarterly earnings
The Dow Jones rose 0.9pc to 34,036, the S&P 500 rose 1.1pc to 4,170, and the Nasdaq rose 1.3pc to 14,039
The All Ordinaries reached a record high in yesterday s trade, but at 1:00pm AEST was down nearly 0.3 per cent to 7,296.