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

U.S. stocks lost ground Wednesday after the Federal Reserve raised interest rates and reiterated plans for two more increases this year. The Dow Jones Industrial Average lost 0.2%, falling to 24,682. The S&P 500 also fell, dropping 0.2%, whilst the Nasdaq Composite shed 0.2%. Ahead of the announcement, all three indexes swung between small gains and losses for the second straight session following sharp declines to start the week. Some investors had feared the Fed would raise rates four times in 2018, but the central bank reiterated Wednesday plans for three total this year. Still, more officials now think four increases might be necessary, and the Fed also marked up slightly the estimate of interest rates it expects to prevail over the long run. Stocks rose earlier in the session after U.S. trade representative Robert Lighthizer told lawmakers that several key U.S. allies and trading partners won't face steel and aluminium tariffs until negotiations on possible exemptions wrap up next month. Worries that protectionist trade policies could spread following the U.S. tariffs expected to take effect Friday and crimp global economic growth have made some money managers anxious in recent weeks. Energy stocks surged alongside oil prices Wednesday after a weekly report showed U.S. inventories surprisingly decreased during the week ended March 16. The S&P 500 energy sector climbed 2.7%. A rise in metals prices boosted materials stocks, which added 1.3%. The U.S. gold price reacted strongly overnight, rising 1.6% to finish at 1,331.80 US$/oz.

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Latest Research

The $8m acquisition of SA-based Security Alarm Monitoring Service (SAMS) adds 55% more connections, diversifies and boosts revenue, increases capacity across the group, and provides organic growth opportunities to leverage infrastructure. Our forecasts are upgraded on an assumption SAMS adds to group margin and, given debt funding, delivers earning accretion. Upgrade to Spec Buy (prior Hold) on a $0.225 valuation (prior $0.170).

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Latest News

Argonaut Congratulates Gascoyne on a Highly Successful Capital Raising.
Argonaut acted as Joint Lead Manager to successfully raise A$21.5 million for Gascoyne Resources Limited (ASX:GCY) (“Gascoyne” or “the Company”).

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