Argonaut | The Natural Choice in Resources

Argonaut is a full service advisory, stockbroking & research and investment house with offices in Perth and Hong Kong. Argonaut is technically driven & focused on natural resource companies & businesses that service the metals, mining, energy and agri-business sectors. Argonaut has an established track record of creating significant wealth for clients.

Morning Notes

Declines in shares of technology and consumer-staple stocks intraday threatened to end major indexes' run of recent gains. Some investors and analysts attributed the stall in the stock market to lingering uncertainty after the Federal Reserve suggested Wednesday that it was open to the possibility of an interest-rate increase in December. A streak of soft inflation data had made some investors skeptical the Fed would raise rates again in 2017. The fact that the central bank signaled otherwise caught some investors off guard.

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Latest Research

The strong performance in 4Q17 sets TPS up well for FY18. The nature of both Monitoring and Guarding segments provides for a high degree of revenue consistency and we anticipate a baseload of ~$14m revenue in FY18. We expect further acquisitive growth in the Monitoring business to boost this number and, given the leverage in the underutilised control rooms, have a positive impact on margin. We upgrade to a speculative buy (prior hold) recommendation on a revised blended valuation of $0.040 (prior $0.030).

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Latest News

Argonaut acting as Lead Manager has successfully raised A$38 million for Metro Mining Limited (ASX: MMI) (“Metro”) via a two tranche placement to Australian and international institutional investors at an issue price of A$0.135 per share. The placement was heavily oversubscribed with significant demand generated from existing and new institutional investors.

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