The last year has been tough. We’ve had bushfires, floods, and now coronavirus. At the time of writing, the S&P/ASX 200 Index (ASX: XJO) is down 14% from this time a year ago. But where there is disaster, there is also opportunity. We take a look at the 10 ASX 200 shares that have performed the best over the last year.
Silver Lake Resources Limited (ASX: SLR)
Shares in Silver Lake Resources are up 155% over the past year. The gold miner has benefitted from the recent strong increase in gold prices and move to safe haven assets. Its cornerstone asset is the Mount Monger Gold camp located 50km south east of Kalgoorlie in Western Australia.
In the March quarter, Silver Lake produced 65,548 ounces of gold and 438 tonnes of copper. The miner posted record sales of 68,183 ounces of gold at an average sale price of $2,170 an ounce. The all-in sustaining cost of production was $1,380 an ounce.
PolyNovo Ltd (ASX: PNV)
Shares in PolyNovo are up 151% compared to this time a year ago. Shares in the healthcare company have appreciated on increasing revenue and market potential for PolyNovo’s product.
PolyNovo produces NovoSorb BTM, an implantable dressing that can be absorbed into the body as it heals. Sales of NovoSorb BTM increased from $1.7 million in FY18 to $9.3 million in FY19. Guidance for FY20 has been in the region of $12 million.
The company is close to breaking even and plans are in place to expand its product offering into hernia treatment and breast repair. The current focus remains on aggressively pursuing market penetration rather than short term profits.
Fisher & Paykel Healthcare Corporation Ltd (ASX: FPH)
Fisher & Paykel Healthcare shares have appreciated 87% over the past year. The company designs and manufactures products for use in respiratory care, surgery, acute care, and sleep apnea.
Fisher & Paykel updated its full year guidance in March from revenue of $1.2 billion to revenue of $1.25 million. Net profit is now expected to be $275–$280 million up from $260–$270 million.
The medical company has seen strong demand for its products which are being used in the treatment of coronavirus. Fisher & Paykel’s respiratory humidifiers and consumables are directly involved in treating patients. The company has also benefitted from stronger sales of its Homecare products and a weaker New Zealand dollar.
EML Payments Ltd (ASX: EML)
Shares is EML Payments have gained 70% over the past year. The payment solution company provides gift card and incentive programs, reloadable value cards, and virtual accounts for business payments.
In the 5 years to FY19 EML Payments’s earnings before interest tax depreciation and amortisation (EBITDA) grew by 82% on a compound annual basis. Revenue increased 37% in FY19 to $97.2 million. Approximately 87% of revenue was generated from recurring revenue streams.
Evolution Mining Ltd (ASX: EVN)
Evolution Mining shares are up 64% over the past year. Along with other gold miners, Evolution’s share price has been boosted by the gold price increase. The gold price has risen from below $1,900 an ounce a year ago to above $2,600 an ounce currently.
In the March quarter, Evolution produced 165,502 ounces of gold, bringing year-to-date gold production to 528,359 ounces. For FY20 Evolution Mining has provided guidance of gold production of 725,000 ounces at an all-in sustaining cost of $940 – $990 per ounce.
Gold Road Resources Ltd (ASX: GOR)
Another gold miner on the list, the Gold Road Resources share price has climbed 62% over the past year. During the March quarter, the Gruyere Gold Mine (which Gold Road Resources has a 50% interest in) produced 59,595 ounces of gold at an all-in sustaining cost of $1,135 an ounce. Gold Road Resources reaffirmed its annual production and cost guidance in late April.
Attributable gold sales in the March quarter totalled 31,700 ounces at an average price of $2,001 an ounce. Gold Road Resources had cash on hand and bullion of $115 million at the end of the March quarter. A $100 million revolving credit facility was drawn to $80 million giving the miner a net cash position of $35 million.
Fortescue Metals Group Limited (ASX: FMG)
Fortescue Metals Group shares are up 61% over the past year with the miner reporting record shipments in the March quarter. Strong operating performance and demand have resulted in sustained cashflow generation and upgraded guidance.
Fortescue reported record iron ore shipments of 42.3 tonnes in the March quarter, with year-to-date shipments a record 130.9 million tonnes. Strong free cash flow generation left the miner with cash on hand of US$4.2 billion at the end of the quarter. Net cash was US$0.1 billion, compared to net debt of US$2.9 billion a year prior
Resmed Inc (ASX: RMD)
Resmed shares are trading up 56% from their position a year ago. Resmed makes products that have been in high demand due to the coronavirus pandemic. The medical device company has responded by ramping up production of ventilators.
In the March quarter, revenue grew by 16% on the prior corresponding period. Net operating profit increased 39%. Resmed says it is confident in its ability to navigate through the challenging clinical and economic environment.
Saracen Mineral Holdings Ltd (ASX: SAR)
Shares is Saracen Mineral Holdings are up 55% over the past year. Another gold miner benefiting from rising gold prices, Saracen reported record gold production in the March quarter.
Saracen produced 158,133 ounces of gold at an all-in sustaining cost of $1,133 an ounce. The company has maintained its FY20 guidance of 500,000 ounces of gold. Saracen has large ore stockpiles exceeding 1.7Moz which will help insulate the business should mining be restricted by COVID-19 impacts.
Xero Limited (ASX: XRO)
Xero shares have climbed 53% over the last year. The company provides cloud-based accounting software to small and medium businesses. With more than 2 million subscribers, Xero is operating in an industry where structural growth is being driven by regulation and a broad-based shift to the cloud.
Increased remote working is also likely to hasten this shift to the cloud. Prior to the pandemic, Xero was seeing healthy growth in subscriber numbers. While this may slow in the near term, long term structural factors still work in Xero’s favour.
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Kate O'Brien owns shares of POLYNOVO FPO. The Motley Fool Australia's parent company Motley Fool Holdings Inc. owns shares of Emerchants Limited. The Motley Fool Australia owns shares of Xero. The Motley Fool Australia has recommended Emerchants Limited and ResMed Inc. 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.
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