ASX 200 rises, Nuix jumps, James Hardie drops

The S&P/ASX 200 Index (ASX:XJO) went higher today. The Nuix Limited (ASX:NXL) share price rose after giving a presentation.

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The S&P/ASX 200 Index (ASX: XJO) rose by 0.6% to 7,066 points.

Here are some of the highlights from the ASX today:

Nuix Limited (ASX: NXL)

The Nuix share price climbed more than 12% today after giving a presentation.

The Australian Financial Review quoted Nuix CEO Rod Vawdrey who said:

I take full responsibility for the performance of the business. For those investors big and small who have been impacted in the last few months, I'm incredibly sorry.

Within the actual presentation, Nuix said that it's well positioned for future revenue and earnings growth.

It claims to have a strong and growing pipeline, with both new business and upselling. New business is at record levels.

Nuix also pointed to its strong customer retention and low churn for the market to back the ASX 200 company. Historically, its net dollar retention has been more than 100%, meaning that its existing customers are spending more money. The revenue churn was 3.5% in FY19 and 4.7% in FY20.

The business also said that it's shifting its pricing to be tied to consumption. Management believe it's going to increasingly benefit from the organic data growth of its customers, with expected revenue from the transition to consumption models not fully factored into its FY21 forecast.

Nuix continues to invest in research and development to drive future growth and new products, as well as going into new markets.

The business reminded investors it has high gross margins and a relatively fixed cost base, leading to operating leverage and cost efficiency.

St Barbara Ltd (ASX: SBM)

The St Barbara share price dropped by over 8% today after the gold miner gave an update.

The miner said that the transition to Macmahon Holdings Limited (ASX: MAH) is taking longer than expected at its Leonora operations. St Barbara said that the restructuring of the mining contract and the strategy delivers a compelling business case for the future of Gwalia.

The recruitment of critical roles and experienced operators by Macmahon has been well below expectations, with the shortfall in personnel a factor for a reduction of guidance. WA-based workforce availability has impacted the planned mine schedule and led to the deferral of mined ore tonnages from FY21 into FY22. The guidance for FY21 is now forecast to be between 150,000 to 160,000 (down from 175,000) and the all-in sustaining costs is now between $1,815 and $1,950 per ounce (up from $1,590 to $1,630 per ounce).

St Barbara also decreased its guidance at its Simberi operations as a result of low mining rates not achieving planned face positions which is affecting gold recovery. The COVID-19 situation continues to put pressure on the operation and workforce in PNG.

Overall guidance for FY21 is now forecast to between 330,000 ounces to 360,000 ounces (down from 370,000 ounces to 380,000 ounces). FY21 AISC is now expected to be in a range of $1,547 to $1,695 per ounce.

James Hardie Industries plc (ASX: JHX)

The James Hardie share price fell by 4.5% today after reporting its fourth quarter and FY21 result.

Fourth quarter global net sales grew by 20% to US$807 million, global adjusted earnings before interest and tax (EBIT) rose 43% to US$173.1 million and adjusted net income grew by 44% to US$124.9 million for the quarter. James Hardie boasted that every operating region delivered double digit net sales and double digit EBIT growth in the quarter.

Looking at the overall FY21 result, the ASX 200 share's global net sales rose 12% to US$2.9 billion and adjusted net income went up 30% to US$458 million. Operating cashflow grew 74% to U$786.9 million.

FY22 adjusted net income is expected to be in a range of US$520 million to US$570 million.

Tristan Harrison has no position in any of the stocks mentioned. The Motley Fool Australia's parent company Motley Fool Holdings Inc. recommends Nuix Pty Ltd. The Motley Fool Australia has recommended Nuix Pty Ltd. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

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