The Motley Fool

Shares of ASX miner Perenti plummet 10% after “security incident”

The Perenti Global Ltd (ASX: PRN), formerly Ausdrill Ltd, share price is down more than 10% this morning after a security incident near a key African drilling site.

What did Perenti announce this morning?

The Perenti share price could faller lower after reporting a “security incident” near Semafo‘s Bongou mine site in Burkina Faso.

Semafo is a Canadian-based intermediate gold producer, which is partnering with Perenti in the African nation.

The Bongou Mine is one of two Semafo mines that has been in commercial production since September 2018.

A convoy, escorted by military police, came under attack in the African country. Perenti confirmed that members of its African Mining Services workforce were involved in the incident.

The Aussie drilling group has reported fatalities and injuries, but is still working to confirm details with local authorities.

International media is reporting at least 37 dead and more than 60 wounded in the devastating convoy attack. The Perenti share price could continue to come under pressure in early trade following today’s tragic news out of Burkina Faso.

Perenti shares climbed higher in 2016 when it received a Letter of Intent and subsequently awarded the contract for the Boungou mine by Semafo.

How has the Perenti share price performed in 2019?

Perenti shares have rocketed 106.19% higher since the start of 2019 to their pre-market open price of $2.33 per share. However, this morning’s announcement represents the first made by the newly rebranded entity and early trade has seen its share price plunge more than 10% in response.

The Perenti share price has surged higher on strong earnings in February and August 2019. Perenti posted a 14.2% increase in pro-forma revenue to $1.97 billion as net profit before intangible amortisation more than doubled to $103.1 million.

Perenti currently boasts a market cap of $1.6 billion with a dividend yield of 2.97% following a successful year of trade on the ASX in 2019.

Top 3 Dividend Shares To Buy For 2020

When Edward Vesely -- our resident dividend expert -- has a stock tip, it can pay to listen. With huge winners like Dicker Data (up 147%) and Collins Food (up 105%) under his belt, Edward is building an enviable following amongst investors that are planning for retirement.

In a brand new report, Edward has just revealed what he believes are the 3 best dividend stocks for income-hungry investors to buy now. All 3 stocks are paying growing fully franked dividends giving you the opportunity to combine capital appreciation with attractive dividend yields.

Best of all, Edward’s “Top 3 Dividend Shares To Buy For 2020” report is totally free to all Motley Fool readers.

Click here now to access this free report.

Motley Fool contributor Kenneth Hall has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

FREE REPORT: Five Cheap and Good Stocks to Buy now…

Our Motley Fool experts have FREE report, detailing 5 dirt cheap shares that you can buy today.

One stock is an Australian internet darling with a rock solid reputation and an exciting new business line that promises years (or even decades) of growth… while trading at an ultra-low price…

Another is a diversified conglomerate trading near a 52-week low all while offering a 2.7% fully franked yield…

Plus 3 more cheap bets that could position you to profit over the next 12 months!

See for yourself now. Simply click the link below to scoop up your FREE copy and discover all 5 shares. But you will want to hurry – this free report is available for a brief time only.