This week all eyes are on 3 small caps that are absolutely zooming. Every portfolio needs a few speculative stocks to balance it out, so here's the low down on three up-and-coming companies that are booking the gains. Just because a share price is rising doesn't mean it's a good investment though so readers should do their own research.
King River Copper Ltd (ASX: KRC)
Shares in copper and gold explorer King River Copper Ltd are up 12.9% today to 17c per share at the time of writing, with trading volumes at 21 million as the micro-cap begins to assert itself in the highly-competitive resources space.
King River Copper has established a portfolio of 100%-owned tenements in Western Australia's East Kimberley region with 785 square kilometres of mineral leases in the area.
King River Copper shares have climbed from a share price of 0.004c per share at this time last year to the 17c per share they are today, with news this week the company will commence drilling at its Mt Remarkable gold project in May after a high-grade gold discovery at the Trudi Vein.
King River announced "significant opportunity" for additional high-grade discoveries, with investors rallying behind the company in the last 12 months – the share price tripled in the past month alone.
King River Copper has also turned to option underwriting to raise funds with an announcement this week it will underwrite a material portion of June 30 2018 options exercisable at 10c which could net $12 million if all options are exercised.
Certainly one to keep an eye on.
Macquarie Telecom Group Ltd (ASX: MAQ)
Shares in telecommunications and hosting services company Macquarie Telecom Group Ltd were holding steady at $18.85 today – share prices have zoomed up 42% since this time last year, when they sat at $13.28.
Macquarie announced a jump in both revenue and NPAT when it handed down it half-year results in February with a fully-franked interim dividend of 25c per share maintained from the previous corresponding period.
NPAT rose from $6.2 million for the half-year to December 31 2016 to $8 million for the half-year to December 31 2017, with EBITDA up $3.5 million over the same period to $22.5 million.
Macquarie Telecom announced last week its 11c per share takeover bid for cloud services provider Bulletproof Group Ltd (ASX: BPF) was rejected after being pipped at the post by Klikon Group Pty Ltd.
But investors remain loyal to the emerging telco mobile and hosting company with Macquarie Telecom focused on gaining market share from competitors such as Optus and TPG Telecom Ltd (ASX: TPG) by delivering on customer service and flexibility.
Bravura Solutions Ltd (ASX: BVS)
Software services company Bravura Solutions Ltd hit a 52-week high today, sitting at $2.62 at the time of writing, up from $1.55 at this time last year with a steady upswing in between and very few troughs.
Bravura is gaining recognition from investors for the increasing popularity of its superannuation administration platform, investment management and portfolio administration products. As such Bravura is steadily gaining market share in the competitive software sector.
Bravura reported its half-year results on February 28, handing down an underlying NPAT increase of 13% to $14.2 million in pointing to strong demand from its existing customers and solid onboarding of new clients.
Bravura will be one to watch as it defines its position in the burgeoning financial services industry.
