To The Moon

As of the close on Friday,$S&P/ASX 200(XJO.AU)$ closed at 7,403.60 points, up 1.23% in the past 5 days.

During the last 5 trading days,  $Sandfire Resources NL(SFR.AU)$ was up 10.57%; $Telix Pharma(TLX.AU)$ added 8.59%; $Wisetech Global(WTC.AU)$ was up 7.58%; $Rea Group(REA.AU)$ rose 7.39%; and $Premier Investments Ltd(PMV.AU)$ increased 6.69%.

1. $Sandfire Resources NL(SFR.AU)$ jumped 10.57% on quarterly update

Sandfire Resources, a mining company, jumps about 11% following the release of its fourth-quarter update. Sandfire forecast copper production for the full year of about 97,000 tons.

Sandfire revealed a 13% quarterly increase in production at its MATSA Copper Operations in Spain and annual production of 99kt. The latter was marginally ahead of its revised guidance.

Looking ahead, management expects a big jump in production to 135kt in FY 2024. 

2024 YEAR FORECAST

• Sees copper production about 97,000 tons

• Sees zinc production about 88,000 tons

• Sees silver production about 3.80 million oz

data from bloomberg

2. $Telix Pharma(TLX.AU)$ rebounded 8.59% but haven’t recover losses after earnings

Telix Pharmaceuticals, a radiopharmaceutical company, released earnings last week. But the share plunged about 13% after the earnings.

Telix Pharma reported Illuccix revenue for the second quart of A$116 million vs. A$97.5 million q/q.

Illuccix revenue A$116 million, +19% q/q

Revenue A$120.7 million, +21% q/q

Revenue from U.S. sales of Illuccix increased by 19% to $116 million (US$77.6 million) for the quarter. This was complemented by modest sales of $4.7 million outside the United States. Though, the latter could soon be given a major boost if everything goes to plan.

3. $Wisetech Global(WTC.AU)$ reached all-time-high as analysts are bullish on CargoWise One

WiseTech Global, a logistics software company, continues to be highly regarded by investors. The company's share price has reached a new all-time high, surpassing its previous record, and currently stands at $86.12 per share. This remarkable performance is part of a trend where many companies are achieving new 52-week highs.

Analysts, including those at UBS, have taken a bullish view on WiseTech, considering the company's flagship platform, CargoWise One, as "incredibly important" to the global logistics industry.

The platform has driven significant recurring revenue growth for WiseTech, with CargoWise revenue growing by 50% to $289.2 million in the first half of the year, accounting for 76.5% of the company's total revenue. This performance has fueled the rise in WiseTech's share price.

WiseTech is scheduled to release its full-year results for FY23 on Wednesday, 23 August. Investors will eagerly await this update to assess whether the company has maintained its impressive growth trajectory.

4. $Rea Group(REA.AU)$ rose 7.39% as the company announced new CTO

REA Group, a digital advertising company, has announced the appointment of Steve Maidment as its new Chief Technology Officer (CTO) starting from October. He will be replacing Chris Venter, who had to take medical leave after a severe accident last year.

Steve Maidment currently serves as the Senior Vice President and Chief Digital Officer of Auto Trader in Canada. In his new role at REA Group, he will be responsible for overseeing the platforms that underpin the company's products, services, and operations.

As with any key personnel change, stakeholders will be keen to observe how Maidment's expertise and leadership contribute to REA Group's technology advancements and overall growth in the future.

5. PMV+6.69%: raised to Overweight at JPMorgan; PT A$25

JP. Morgan analyst Bryan Raymond raised the recommendation on Premier Investments Ltd. to overweight from neutral. PT set to A$25.

In the last 22 months, JPMorgan has rated Premier Investments neutral once and overweight once.

The stock rose an average 9.3% in the periods rated neutral and fell 27% in the periods rated overweight.