Top 10 at 10: Indo nickel giant books record profits as Aussie firms sh*t the bed

Stockhead’s Top 10 at 10, published at ~10.40am each trading day, highlights the best (and worst) performing ASX stocks in morning trade using live data.

It’s a short, sharp update to help frame the trading day by showing the biggest movers in percentage terms.

The market opens at 10am (eastern time) and the data is taken at 10:15am, once every ASX stock has started trading.

WINNERS

Stocks highlighted in yellow have made market-moving announcements (click headings to sort).

Security Description Last % Volume MktCap PRX Prodigy Gold NL 0.004 33% 602,668 $5,253,323 AXN Alliance Nickel Ltd 0.039 30% 224,255 $21,775,188 IEC Intra Energy Corp 0.0025 25% 1,000,000 $3,321,563 NAE New Age Exploration 0.005 25% 250,000 $7,175,596 AD1 AD1 Holdings Limited 0.006 20% 200,000 $4,493,242 IBG Ironbark Zinc Ltd 0.006 20% 100,000 $7,969,363 VML Vital Metals Limited 0.006 20% 100,000 $29,475,335 YOJ Yojee Limited 0.003 20% 297 $6,363,858 MP1 Megaport Limited 11.65 19% 561,290 $1,556,240,642 LVH Livehire Limited 0.053 18% 876,991 $16,398,634

WordPress Table Plugin

“Against a backdrop of Australian closures and write downs” Indo-based Nickel Mines (ASX:NIC) has inked a record group EBITDA from operations of US$135.4m.

NIC will also increase its final period dividend to 2.5c (2022: 2c) and embark on an on-market share buyback program of up to US$100M.

“With Australia’s competitiveness in the nickel market on the decline, Indonesia has been a huge winner in terms of downstream investment, jobs and wealth creation,” managing director Justin Werner says.

“In the nickel space, we think of Indonesia as what WA is in iron ore.’’

Internet co Megaport (ASX:MP1) recorded total revenue of $48.6m for the December quarter, up 2.1m (5%) on the prior quarter. It added 39 net new revenue-generating customers over the period.

Recruitment stock LiveHire (ASX:LVH) eked out its first ever profit with $800,000 in net operating cashflow for the December quarter.

It also continued to slash costs, with a reduction from an annualised run rate from ~$22m to ~$13m.

LOSERS

Stocks highlighted in yellow have made market-moving announcements (click headings to sort).

Security Description Last % Volume MktCap OAR OAR Resources Ltd 0.002 -33% 1,020,408 $7,931,183 WEC White Energy Company 0.034 -32% 10,164 $5,661,767 AMT Allegra Medical 0.031 -30% 167,741 $5,262,885 ADD Adavale Resource Ltd 0.006 -25% 3,976,594 $6,489,377 PVW PVW Resources 0.044 -23% 38,242 $5,780,072 BNL Blue Star Helium Ltd 0.018 -22% 6,378,838 $44,672,101 1MC Morella Corporation 0.004 -20% 526,887 $30,893,997 CHK Cohiba Minerals 0.002 -20% 65,217 $6,325,575 M4M Macro Metals Limited 0.002 -20% 812,500 $6,167,694 NES Nelson Resources 0.004 -20% 1,250,000 $3,067,972

WordPress Table Plugin

Uranium and nickel explorer Adavale Resources (ASX:ADD) will raise $1.5m at 0.7c per share, plus 1:1 attached option exercisable at 3c.

Blue Star Helium (ASX:BNL) has drilled a duster at its Voyager helium development in Las Animas County, Colorado.

The post Top 10 at 10: Indo nickel giant books record profits as Aussie firms sh*t the bed appeared first on Stockhead.