Latest news with #BossEnergy
Business Insider
2 days ago
- Business
- Business Insider
Boss Energy (BQSSF) Gets a Hold from Macquarie
Macquarie analyst maintained a Hold rating on Boss Energy today and set a price target of A$4.45. The company's shares closed last Friday at $2.39. Elevate Your Investing Strategy: Take advantage of TipRanks Premium at 50% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence. In addition to Macquarie, Boss Energy also received a Hold from RBC Capital's Alistair Rankin in a report issued on July 17. However, today, Morgan Stanley downgraded Boss Energy (Other OTC: BQSSF) to a Sell. The company has a one-year high of $3.11 and a one-year low of $1.26. Currently, Boss Energy has an average volume of 23.73K.
Perth Now
2 days ago
- Business
- Perth Now
ASX jumps on the latest Trump deal
Australia's sharemarket snapped a brief two day losing streak on Monday after US President Donald Trump announced his latest trade deal and the major banks bounced back from their recent falls. The benchmark ASX 200 index closed up 30.8 points or 0.36 per cent at 8697.7 after hitting an intraday high of 8704.9, while the broader All Ordinaries finished in the green up 29.20 points or 0.33 per cent to 8,963.50. The Australian dollar slipped from a nine-month high on Friday buying 65.51 US cents at the time of writing. On an overall positive day, eight of the 11 sectors finished in the green, led by the telecommunications sector, the big four banks and healthcare stocks. The ASX had a good day after Donald Trump announced a trade deal with the EU. Gaye Gerard / NewsWire Credit: News Corp Australia Shares in Telstra gained 0.81 per cent to $4.95, REA Group jumped 1.34 per cent to $236.09 and CAR group added 1.72 per cent to $37.89. Market heavyweight CBA gained 1.17 per cent to $174.90 offsetting half the falls in recent days, while NAB gained 0.67 per cent to $37.76, Westpac added 0.54 per cent to $33.21 and ANZ group closed 0.30 per cent higher at $30.31. Healthcare darling CSL gained 1 per cent to $270.59, Sigma Healthcare added 1.41 per cent to $2.88 and ResMed finished 0.97 per cent higher to $41.70. The markets jumped after US President Donald Trump announced a deal with the EU to end four months of negotiations between the two economic powerhouses. Following the discussions, the EU will face a 15 per cent tariff from the US, which is down from the 25 per cent the President announced in April. European Commission chief Ursula von de Leyen described it as 'a big deal, a huge deal, bringing: stability and predictability' to the two trading partners. IG market analyst Tony Sycamore said global markets around the world jumped on these trade deals. 'In terms of the trade deals with Japan and Europe, the tariff rate that will be implemented came in lower than initially threatened and the market is looking very positively on it,' Mr Sycamore said. Uranium shares were one of the rare misses during Monday's trading, dragged down by news out of Boss Energy which flagged challenges out of its Honeymoon uranium project. Boss Energy shares plummeted 43.97 per cent to $1.90, Deep Yellow fell 8.34 per cent to $1.65 and Paladin Energy dropped 4.43 per cent to $6.91. 'That is the uranium sector in a nutshell,' he said. 'It is one where you have to be prepared for extraordinary volatility. 'This was a disappointing performance day and a disappointing report by Boss Energy.' In company news, Helloworld Travel shares soared 14.14 per cent to $1.69 after the business upgraded its guidance to somewhere between $58-$62m. Stealth Group's shares also soared 11.02 per cent to $0.70 after announcing a 50 per cent jump in pre-orders on the back of the soon to be released iPhone 17. Bubs Australia shares jumped 2.94 per cent to $0.18 after the infant formula maker announced Joe Cootes as its new chief executive, effective immediately.
AU Financial Review
2 days ago
- Business
- AU Financial Review
Honeymoon over for Boss Energy after $600m market rout
Boss Energy has seen $600m of shareholder value erased in a single day after the uranium producer raised concerns about the future of its flagship mine, just days after the managing director handed in his notice. Shares in Boss dropped more than 40 per cent on Monday when the miner warned it was unlikely to hit the production target for the Honeymoon project in South Australia and flagged concerns about the quality of its uranium.
Reuters
2 days ago
- Business
- Reuters
Australia's Boss Energy flags Honeymoon uranium project challenges, shares plunge
July 28 (Reuters) - Australia's Boss Energy ( opens new tab on Monday flagged operational challenges at its flagship Honeymoon uranium project in South Australia, sending its shares to a three-year low. The uranium miner, which owns 100% of the Honeymoon project, warned that issues in ramping up operations could delay reaching full capacity, after the site exceeded production guidance for fiscal 2025. The Subiaco-headquartered company also flagged a rise in cash costs for fiscal 2026, citing shorter processing times and changes to the chemical mix used in extraction. "Honeymoon continues to ramp up, however the removal of nameplate targets and increased cost outlook have cast doubts over the project's long-term value," Jefferies analysts said in a note. Boss Energy said it expects to spend between A$27 million and A$30 million ($17.73 million-$19.70 million) on the project in fiscal 2026, which Jefferies said is higher than its estimates. The stock fell as much as 44.7% to A$1.880, its lowest since July 14, 2022, and was on track for its biggest daily drop since April 7, 2008. It was also the top loser on the broader ASX200 benchmark index (.AXJO), opens new tab, which was trading 0.2% higher, as of 0332 GMT. Jefferies analysts said the recent board changes have reduced the chances of Boss Energy engaging in acquisitions as they are more focused on internal growth. Boss Energy, which went public in 2007, said last week Chief Executive and Managing Director Duncan Craib would step down from the roles later this year and transition to a non-executive director role in 2026. Craib has been with the firm since 2017. Chief Operating Officer Matt Dusci was named as his successor, effective October 1. ($1 = 1.5232 Australian dollars)
West Australian
2 days ago
- Business
- West Australian
Boss Energy shares plunge on issues at uranium mine
The company behind Australia's first uranium mine in a decade has been hit by a huge share-price plunge after disclosing challenges at its South Australia operation. Boss Energy shares on Monday afternoon were down 42.2 per cent to a three-year low of $1.965 after the Perth-headquartered company made the announcement about its Honeymoon mine, 80km northwest of Broken Hill. Boss said that based on more than 12 months of resumed operations, it had identified "potential challenges" that could prevent Honeymoon from ever achieving its forecast production target of 2.45 million pounds of yellowcake a year. "We're confident that we'll get at least 1,600,000 pounds," chief executive and managing director Duncan Craib told analysts in a conference call on Monday. The issue is production drilling at 15 to 20 metres of spacing has found less uranium mineralisation than Boss had inferred from its 2021 feasibility study, which relied on drilling at 60 or 70-metre spacing. An independent review by experts will commence shortly to determine the extent to which this will affect assumptions from the early feasibility study, Boss said. The Honeymoon mine opened in 2011 but operations were suspended just two years later, after a plunge in the price of uranium. Boss bought the mine in 2015 and it resumed operations in 2024. "It really has been a tremendous achievement that since the start of commissioning in April (2024), we've produced over one million pounds of uranium to date," Mr Craib said. The chief executive, who is stepping down at the end of September, told analysts in response to a question that it was too soon to say how the mineralisation findings might affect Honeymoon's estimated mine life of 10-plus years. "The mine itself is off to a flying start," he said. It is profitable and Boss Energy has no debt, he added.
