Glencore to Shut Australian Copper Mines With Smelter on Brink
A shutdown of the mines — which have been operating for more than six decades — would end Glencore's upstream copper operations in Australia, according to a spokesperson. The company announced the plan in October 2023 following a review that found they were no longer viable given declining ore grades.
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Magnetic Resources Joins 2 Other ASX Penny Stocks Worth Watching
The Australian market has experienced a mixed performance recently, with significant declines in materials and financials contrasted by gains in the energy sector. Despite these fluctuations, investors continue to seek opportunities beyond the major players, exploring areas like penny stocks for potential growth. While the term "penny stock" might seem outdated, these smaller or newer companies can still offer surprising value when backed by strong financials and stability. Top 10 Penny Stocks In Australia Name Share Price Market Cap Financial Health Rating Alfabs Australia (ASX:AAL) A$0.40 A$114.64M ★★★★☆☆ EZZ Life Science Holdings (ASX:EZZ) A$2.14 A$100.95M ★★★★★★ GTN (ASX:GTN) A$0.59 A$112.49M ★★★★★★ IVE Group (ASX:IGL) A$3.00 A$462.55M ★★★★★☆ West African Resources (ASX:WAF) A$2.38 A$2.71B ★★★★★★ Southern Cross Electrical Engineering (ASX:SXE) A$1.78 A$470.65M ★★★★★★ Regal Partners (ASX:RPL) A$2.90 A$975.05M ★★★★★★ Navigator Global Investments (ASX:NGI) A$1.815 A$889.49M ★★★★★☆ Austco Healthcare (ASX:AHC) A$0.38 A$138.44M ★★★★★★ CTI Logistics (ASX:CLX) A$1.86 A$149.81M ★★★★☆☆ Click here to see the full list of 464 stocks from our ASX Penny Stocks screener. Here's a peek at a few of the choices from the screener. Magnetic Resources Simply Wall St Financial Health Rating: ★★★★☆☆ Overview: Magnetic Resources NL is involved in the exploration of mineral tenements in Western Australia and has a market cap of A$411.91 million. Operations: Currently, there are no reported revenue segments for the company. Market Cap: A$411.91M Magnetic Resources NL, with a market cap of A$411.91 million, is currently pre-revenue and unprofitable, lacking significant revenue streams. The company has less than a year of cash runway based on its current free cash flow and no long-term liabilities or debt. Its short-term assets significantly surpass short-term liabilities, indicating sound financial management despite its challenges. Recent board changes include the appointment of Aaron Sim as an alternate director, bringing extensive financial advisory experience to the table. Earnings are forecast to grow significantly annually; however, past losses have increased over five years at 18.8% per year. Take a closer look at Magnetic Resources' potential here in our financial health report. Learn about Magnetic Resources' future growth trajectory here. NextEd Group Simply Wall St Financial Health Rating: ★★★★☆☆ Overview: NextEd Group Limited offers educational services across Australia, Europe, and South America with a market cap of A$51.09 million. Operations: NextEd Group's revenue is primarily derived from its International Vocational segment at A$73.79 million, followed by Technology & Design at A$11.29 million, Domestic Vocational at A$9.22 million, and Go Study Group contributing A$6.16 million. Market Cap: A$51.09M NextEd Group Limited, with a market cap of A$51.09 million, primarily generates revenue from its International Vocational segment. Despite being unprofitable and not expected to achieve profitability in the next three years, it benefits from a strong cash runway exceeding three years due to positive free cash flow growth. The company is debt-free but faces challenges with short-term assets not covering liabilities. Recent leadership changes include appointing Andrew Nye as Chief Financial Officer, bringing extensive financial management expertise. Although NextEd trades at good value compared to peers, losses have increased significantly over the past five years. Dive into the specifics of NextEd Group here with our thorough balance sheet health report. Examine NextEd Group's earnings growth report to understand how analysts expect it to perform. Perenti Simply Wall St Financial Health Rating: ★★★★★★ Overview: Perenti Limited is a global mining services company with a market capitalization of A$1.64 billion. Operations: Perenti's revenue is primarily derived from Contract Mining Services at A$2.50 billion, followed by Drilling Services at A$750.65 million, and Mining Services and Idoba contributing A$229.77 million. Market Cap: A$1.64B Perenti Limited, with a market cap of A$1.64 billion, primarily derives revenue from Contract Mining Services (A$2.50 billion). Despite negative earnings growth over the past year and lower profit margins (2.5% compared to last year's 3.9%), the company is trading at a significant discount to its estimated fair value. Perenti's debt management has improved, with a reduced debt-to-equity ratio now at 45.5%, and its short-term assets exceed both short- and long-term liabilities, indicating solid financial footing. Earnings are forecasted to grow annually by 24.84%, supported by high-quality past earnings performance and stable weekly volatility (5%). Get an in-depth perspective on Perenti's performance by reading our balance sheet health report here. Evaluate Perenti's prospects by accessing our earnings growth report. Summing It All Up Jump into our full catalog of 464 ASX Penny Stocks here. Ready To Venture Into Other Investment Styles? AI is about to change healthcare. These 26 stocks are working on everything from early diagnostics to drug discovery. The best part - they are all under $10b in market cap - there's still time to get in early. This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned. Companies discussed in this article include ASX:MAU ASX:NXD and ASX:PRN. This article was originally published by Simply Wall St. Have feedback on this article? Concerned about the content? with us directly. 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15 minutes ago
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Major ATO deadline hits thousands of Aussies today: 'Paid in full'
Australian business owners have been warned they have until today to make sure their staff have been paid their superannuation contributions. These mandatory employer payments, called the superannuation guarantee (SG), have to be sent out to all staff every quarter. July 28 marks the date for when payments for April 1 and June 30 are due. But the Australian Taxation Office (ATO) has reminded employers of the major change that could apply to payments. "The SG rate increased from 11.5 per cent to 12 per cent on 1 July," it said recently. RELATED ATO's major tax return update for 15 million Aussies FIFO worker's huge compensation win after being unfairly sacked Rare 5 cent coin worth 25,000 times its value due to 'double headed' detail "For the quarter ending 30 June, apply the 11.5 per cent SG rate for payments made before 1 July. "Apply the 12 per cent rate for all salary and wages paid for eligible workers on and after 1 July. "This is even if some or all of the pay period it relates to is before 1 July." The increase from 11.5 per cent to 12 per cent was the final legislated SG increase after going up by 0.5 per cent increments since happens if you miss the SG payment deadline? The ATO said these SG payments have to be paid out in full by July 28, or serious penalties could apply. Core Business Accountants said the ATO used to have lenience when it came to late SG payments, but the tax office is now "unforgiving for employers who fall behind". The ATO added that the super contributions were only considered "paid" when they reached an employee's super fund and with the full amount. Employers who miss the deadline are encouraged to lodge a super guarantee charge (SGC) statement to avoid incurring these penalties. Penalties for missing this deadline or failing to lodge a SGC include: Being liable for a penalty equal to or up to 200 per cent of the unpaid amount Being hit with a general interest charge (GIC) and administration fees The ATO could issue a director penalty notice, which allows the tax office to collect the penalty by other means, like withholding a tax refund The penalty can be reduced if the outstanding amount is paid, or if the company goes into voluntary administration or liquidation. Major superannuation guarantee change incoming At the moment, these SG payments have to be sent out every three months. However, from July 1 next year, it will be every time a worker receives their pay. Payday super was first announced back in 2023 and it's meant to crack down on unpaid super. The ATO estimated that $5.2 billion failed to be transferred properly to workers in 2021-22. Government modelling found a 25-year-old whose super was switched from quarterly to fortnightly payments could be $6,000 better off at retirement. While it's set to be a big win for workers, some employers are getting worried about the upcoming change. Employment Hero, who operates payroll for more than 300,000 businesses, recently found 65 per cent of small and medium businesses felt payday super would have a 'moderate' to 'huge impact' on the day-to-day running of their businesses. About a third said they would have to build up larger cash reserves to prepare for the change, while 15 per cent were not aware of the changes at all. It also found businesses would need an extra $124,000 in working capital on average to meet the new rules. As part of the payday super change, employers will have a seven-calendar-day deadline from the payment of wages to pay employees' superannuation.
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ASX Stocks Estimated To Be Undervalued By Up To 42% Offering Investment Opportunities
The Australian stock market has experienced a mixed performance recently, with declines in materials and financials sectors, while energy and IT showed resilience. In this fluctuating environment, identifying undervalued stocks can present potential investment opportunities, especially for those looking to capitalize on discrepancies between current prices and intrinsic values. Top 10 Undervalued Stocks Based On Cash Flows In Australia Name Current Price Fair Value (Est) Discount (Est) PolyNovo (ASX:PNV) A$1.29 A$2.58 50% PointsBet Holdings (ASX:PBH) A$1.20 A$2.08 42.4% Lindsay Australia (ASX:LAU) A$0.78 A$1.19 34.3% Infomedia (ASX:IFM) A$1.28 A$2.06 37.8% Hillgrove Resources (ASX:HGO) A$0.038 A$0.073 47.6% Flight Centre Travel Group (ASX:FLT) A$13.15 A$20.81 36.8% Fenix Resources (ASX:FEX) A$0.31 A$0.49 36.8% Domino's Pizza Enterprises (ASX:DMP) A$18.17 A$29.45 38.3% Collins Foods (ASX:CKF) A$9.10 A$15.68 42% Charter Hall Group (ASX:CHC) A$19.53 A$35.43 44.9% Click here to see the full list of 29 stocks from our Undervalued ASX Stocks Based On Cash Flows screener. Here we highlight a subset of our preferred stocks from the screener. Collins Foods Overview: Collins Foods Limited operates, manages, and administers restaurants in Australia and Europe with a market cap of A$1.07 billion. Operations: The company's revenue segments comprise A$53.02 million from Taco Bell Australia, A$312.27 million from KFC Restaurants Europe, and A$1.15 billion from KFC Restaurants Australia. Estimated Discount To Fair Value: 42% Collins Foods is trading at A$9.1, significantly below its estimated fair value of A$15.68, indicating undervaluation based on discounted cash flow analysis. Despite a recent dividend decrease to A$0.15 per share and a sharp decline in net income from last year, the company is forecasted to achieve annual earnings growth of 28.5%, outpacing the Australian market's average growth rate of 11.1%. However, profit margins have decreased from 3.7% to 0.6%. In light of our recent growth report, it seems possible that Collins Foods' financial performance will exceed current levels. Delve into the full analysis health report here for a deeper understanding of Collins Foods. Flight Centre Travel Group Overview: Flight Centre Travel Group Limited is a global travel retailing company offering services for both leisure and corporate sectors across various regions, with a market capitalization of A$2.85 billion. Operations: The company's revenue segments include A$1.38 billion from leisure travel services and A$1.13 billion from corporate travel services across its operational regions. Estimated Discount To Fair Value: 36.8% Flight Centre Travel Group is currently trading at A$13.15, well below its estimated fair value of A$20.81, highlighting its undervaluation based on cash flow analysis. The company has initiated a share buyback program worth up to A$200 million, funded by existing cash reserves, reflecting strong capital management. Earnings are projected to grow significantly at 21% per year over the next three years, surpassing the Australian market's growth rate of 11.1%, although current profit margins have decreased from last year. Our earnings growth report unveils the potential for significant increases in Flight Centre Travel Group's future results. Click here to discover the nuances of Flight Centre Travel Group with our detailed financial health report. Regal Partners Overview: Regal Partners Limited is a privately owned hedge fund sponsor with a market cap of A$975.05 million. Operations: The company's revenue is primarily derived from the provision of investment management services, amounting to A$257.55 million. Estimated Discount To Fair Value: 20.3% Regal Partners is trading at A$2.9, significantly below its estimated fair value of A$3.64, indicating it is undervalued based on cash flows. The company forecasts robust earnings growth of 21.7% annually, outpacing the Australian market's 11.1%. However, its dividend yield of 6.9% isn't well covered by free cash flows, presenting a risk factor for investors focused on income stability. Regal Partners is actively seeking acquisitions to enhance earnings per share through disciplined M&A strategies. Our comprehensive growth report raises the possibility that Regal Partners is poised for substantial financial growth. Unlock comprehensive insights into our analysis of Regal Partners stock in this financial health report. Make It Happen Delve into our full catalog of 29 Undervalued ASX Stocks Based On Cash Flows here. Have a stake in these businesses? Integrate your holdings into Simply Wall St's portfolio for notifications and detailed stock reports. Maximize your investment potential with Simply Wall St, the comprehensive app that offers global market insights for free. Searching for a Fresh Perspective? Explore high-performing small cap companies that haven't yet garnered significant analyst attention. Diversify your portfolio with solid dividend payers offering reliable income streams to weather potential market turbulence. Fuel your portfolio with companies showing strong growth potential, backed by optimistic outlooks both from analysts and management. This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned. Companies discussed in this article include ASX:CKF ASX:FLT and ASX:RPL. This article was originally published by Simply Wall St. Have feedback on this article? Concerned about the content? with us directly. Alternatively, email editorial-team@ Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
