To The Moon

As of the close on Friday,$S&P/ASX 200(XJO.AU)$ closed at 7,330.40 points, down 0.42% in the past 5 days.

During the last 5 trading days,  $Telix Pharma(TLX.AU)$ , $WHITEHAVEN COAL LTD(WHC.AU)$, $Pilbara Minerals Ltd(PLS.AU)$, $OZ MINERALS LTD(OZL.AU)$ and $Insignia Financial Ltd(IFL.AU)$ were up 29.37%, 7.42%, 7.2%, 6.73%, and 6.62% respectively.

1. $Telix Pharma(TLX.AU)$ up 29% with its sales increase in US

Telix Pharmaceuticals, a radiopharmaceutical company, develops molecularly targeted radiation (MTR) products for cancer and rare disease.

The company delivered a 27% lift in revenue in the first quarter of this year as sales growth of Illuccix in the US has helped boost revenue.

Revenue from US sales of Illuccix rose 27% quarter on quarter to $97.5 million. This follows the US Food and Drug Administration (FDA) expanding the label indication for Illuccix as advised in March.

Revenue: $100.1M, driven by global sales of Illuccix

Sales for Illuccix in the US: $97.5M (up from $76.8M in the prior quarter)

Cash receipts from customers: $83.2M, up 15% from $72.2M in the prior quarter

2. $WHITEHAVEN COAL LTD(WHC.AU)$ rose 7% with strong balance sheet and buyback

Whitehaven Coal develops and operates coal mines in New South Wales and Queensland.

Whitehaven Coal’s share price rose despite a 12% quarter-on-quarter fall in production to 4.3 million tonnes and a 24% quarter-on-quarter fall in the average coal price to $400 a tonne.

The company generated $1.2 billion of cash from operations and ended the period with a $2.7 billion net cash position.

Whitehaven CEO Paul Flynn said

the company is well placed to maintain a strong balance sheet and continue returning capital to shareholders through its share buy-back program.

It is not uncommon for a company’s share price to rise even if its production falls or its financial performance is not as strong as expected. This can happen for various reasons, such as investors being optimistic about the company’s future prospects or the broader market conditions being favorable.

3.$Pilbara Minerals Ltd(PLS.AU)$ rose on upgrades from UBS and Morgans

Pilbara Minerals explores for, develops, and operates mineral resources in Australia.

Concerns over falling lithium prices have put a lot of pressure on this mining giant’s shares and has led to them losing approximately 21% of the value over the last six months.

UBS upgrade PLS from Neutral to BUY with a $4.60 PT (from $4.65) and it remains a preferred high beta play to any near-term bounce."

Morgan has also put an add rating and $5.30 price target on its shares.

Morgan’s analysts said:

PLS is an Australian spodumene pure play and would suit an acquirer that is looking for a fast way to get exposure to lithium. PLS does not have the resource base of AKE though and is more expensive per tonne of LCE.

4. $OZ MINERALS LTD(OZL.AU)$ was successfully acquired by $BHP GROUP LTD(BHP.AU)$

OZ Minerals is an Australian mining company that explores, develops, mines, and processes mining projects.

In August 2022, BHP offered to buy OZ Minerals for $25 per share in cash. This offer was later adjusted to $28.25 per share in cash, less a $1.75 per share dividend declared by OZ Minerals. The acquisition was approved by nearly 98% of shareholders who voted.

BHP’s takeover of OZ Minerals has now become legally effective. OZ Minerals shares have ceased trading and the acquisition will be implemented next month. Shareholders will receive a $1.75 franked dividend and $26.50 cash for their holdings.

5. $Insignia Financial Ltd(IFL.AU)$  might be lifted by positive earnings of US regional banks

Insignia Financial provides financial advice, platforms, and asset management services in Australia.

There is no price-sensitive news available in the market. One possible reason is that as a financial platform, it has been lifted by $Western Alliance(WAL)$’s positive earnings in US stock market. The small and regional banks were heavily hit in the bank run and rebounded after the positive earnings.