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    PLS   AU000000PLS0

PILBARA MINERALS LIMITED

(PLS)
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Delayed Australian Stock Exchange  -  05/27 02:11:01 am EDT
2.910 AUD   +3.56%
05/16Trek Metals to Acquire Western Australian Tenement from Pilbara Minerals Subsidiary; Shares Gain 4%
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05/16Pilbara Minerals, Calix Secure $14 Million Manufacturing Initiative Grant; Shares Rise 3%
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05/16Pilbara Minerals and Calix Announces $20 Million Australian Government Modern Manufacturing Initiative Grant Awarded
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Healthcare, mining stocks help Australian shares notch best day in 2 weeks

12/21/2021 | 12:55am EDT

Dec 21 (Reuters) - Australian shares rose on Tuesday by their most in two weeks, as biotech firm CSL Ltd led healthcare stocks higher and miners advanced on the back of an extended rally in iron ore futures.

The S&P/ASX 200 index settled 0.86% higher at 7,355 to notch its best session since Dec. 8, with all sectors except real estate, industrials and education closing in positive territory.

Healthcare stocks rallied 3.9% in their best session since August 2020. Kunal Sawhney, the chief executive officer at equity research firm Kalkine Group, said the gains were primarily fuelled by CSL's recovery.

CSL shares closed 4.9% higher in their second straight session of gains, after shedding 8.8% last week mainly due to a discounted capital raise to fund its acquisition of Vifor Pharma.

Among other gainers, Cochlear and Ramsay Health Care rose 3.9% and 3.1%, respectively.

"The broader optimism was seen to be ruling in favour of the healthcare sector," Sawhney said.

Analysts at Jefferies were also bullish on the sector on expectation that rising COVID-19 cases would contribute to pathology revenues.

Mining stocks gained 1.1%, with Rio Tinto and BHP Group rising 3.2% and 1.5% respectively, as iron ore prices extended their rally and hit multi-week highs on China demand hopes.

Energy stocks firmed 1.6%. Investment house Washington H Soul Pattinson And Co and Ampol rose 3.7% and 2%, respectively.

However, lithium explorer Pilbara Minerals fell 9% to be the top loser on the benchmark after it slashed its annual production forecast due to delays and shutdowns at project sites.

Meanwhile, minutes of the Reserve Bank of Australia's Dec. 7 meeting showed its board did not expect the Omicron variant to derail the country's economic recovery. The board also mulled how to wind up its bond buying programme given the rapid economic pickup.

Across the Tasman Sea, New Zealand's benchmark S&P/NZX 50 index climbed 0.71% to 12,856.87 despite the country delaying the reopening of its international border to late February. (Reporting by Harshita Swaminathan; Editing by Subhranshu Sahu)


© Reuters 2021
Stocks mentioned in the article
ChangeLast1st jan.
AMPOL LIMITED 0.71% 34 Delayed Quote.13.82%
BHP GROUP LIMITED 2.46% 43.67 Delayed Quote.2.70%
COCHLEAR LIMITED 0.03% 218.5 Delayed Quote.1.07%
CSL LIMITED -0.32% 269.02 Delayed Quote.-7.17%
PILBARA MINERALS LIMITED 3.56% 2.91 Delayed Quote.-12.19%
RAMSAY HEALTH CARE LIMITED 1.34% 78.41 Delayed Quote.8.21%
S&P/ASX 200 1.08% 7182.7 Real-time Quote.-4.55%
WASHINGTON H. SOUL PATTINSON AND COMPANY LIMITED 1.91% 25.67 Delayed Quote.-14.93%
All news about PILBARA MINERALS LIMITED
05/16Trek Metals to Acquire Western Australian Tenement from Pilbara Minerals Subsidiary; Sh..
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Financials
Sales 2022 1 186 M 840 M 840 M
Net income 2022 597 M 422 M 422 M
Net cash 2022 474 M 335 M 335 M
P/E ratio 2022 12,9x
Yield 2022 0,23%
Capitalization 8 365 M 5 919 M 5 919 M
EV / Sales 2022 6,65x
EV / Sales 2023 2,21x
Nbr of Employees 300
Free-Float 82,9%
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Technical analysis trends PILBARA MINERALS LIMITED
Short TermMid-TermLong Term
TrendsNeutralNeutralBullish
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus OUTPERFORM
Number of Analysts 6
Last Close Price 2,81 AUD
Average target price 3,69 AUD
Spread / Average Target 31,4%
EPS Revisions
Managers and Directors
Kenneth Edward Brinsden Chief Executive Officer & Executive Director
Brian Lynn Chief Financial Officer
Anthony William Kiernan Non-Executive Chairman
Dale Henderson Project Director
Stephen John Scudamore Independent Non-Executive Director
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