In the past week, the S&P ASX 200 Index (ASX: XJO) was slightly down by -0.3% while the US-based S&P 500 Index (NYSE: SPX) was flat after hitting a new all-time high of 1813 during the week. Amongst ASX 200 companies, the highest movers during the past week were an online listing portal and three resources companies. Seek (ASX: SEK) shot up 9% to close at $13.37. It confirmed its previous earnings guidance for FY 2014, adding that it sees its domestic revenue and EBITDA to be slightly ahead of 2013. Also, it announced that is has plans to float its…
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Amongst ASX 200 companies, the highest movers during the past week were an online listing portal and three resources companies.
Seek (ASX: SEK) shot up 9% to close at $13.37. It confirmed its previous earnings guidance for FY 2014, adding that it sees its domestic revenue and EBITDA to be slightly ahead of 2013. Also, it announced that is has plans to float its IDP Education business, which is the world’s largest international student placement provider.
In addition, it is also considering listing its Zhaopin employment website in China, and possibly retaining an 80% shareholding in it.
OceanaGold Corporation (ASX: OGC) gained 9% also, closing at $1.79. It announced the completion of a plan of arrangement whereby Pacific Rim Mining Corporation (TSE: PMU) will become its subsidiary.
This will add Pacific Rim’s established El Dorado high-grade gold-silver operations to its portfolio, as well as other exploration sites in El Salvador.
Alumina (ASX: AWC) closed the week at $1.01, rising 7%. Although there were no new announcements concerning sales and production this week, the share price rallied from 25 November onwards, which happened to be the day that Rio Tinto (ASX: RIO) announced that it would wind down its Gove alumina refinery in NT.
Alumina holds a 40% interest with Alcoa (NYSE: AA) in the operating entities of Alcoa World Alumina and Chemicals, so it would stand to benefit from any increased business due to the reduction in Rio’s refined alumina sales that Alcoa could gain.
Whitehaven Coal (ASX: WHC) had a good week, up 7% to $1.62. In October it set a monthly record of shipping just over 1 million tonnes of coal to the port of Newcastle, which also lead to monthly record sales of over 1.4 million tonnes for export.
It is expecting to produce about 10.7 million tonnes for FY2014. Happily, thermal coal prices are coming up off their August lows, and now are about $85/tonne.
With 7%-9% increases, just a few weeks’ worth of them could match a managed fund’s yearly average returns, even before fees. Look at movements like these as reasons to investigate more about the companies. As soon as those gains come, they can go also, and market sentiment may react more than true added value.
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Motley Fool contributor Darryl Daté-Shappard does not own shares in any company mentioned.