Stocks of the Hour: BHP, Santos, Rio Tinto & Ardent Leisure

Company News

by Michael Luu

The recent lockdown in Greater Brisbane has taken a heavy toll on Ardent Leisure Group (ASX:ALG)’s revenue from theme parks due to a decline in attendance rates, according to the latest update from Dreamworld Gold Coast's owner. The abolishment of JobKeeper support packages at the end of March is expected to have a negative impact on the company’s EBITDA for the next three quarters.

Shares in Ardent Leisure Group (ASX:ALG)  are trading 6.5 per cent higher at 98 cents

Energy heavyweight Santos (ASX:STO) has successfully extended its supply partnership with mining giant Rio Tinto (ASX:RIO). Under the new contract, Australia’s second biggest independent gas producer will supply 15 petajoules of natural gas to the world's second largest metals and mining corporation. This marks the continuation of long-term collaboration between the ASX blue-chips. The terms and value of the agreement remain confidential.

Shares in Santos (ASX:STO) are trading 3.1 per cent lower at $6.80

The world’s second biggest miner by revenue BHP (ASX:BHP) is capitalising on momentum from record-breaking iron ore prices and under-performances by rivals, propelling the company’s output of the steel-making ingredient. The mining giant’s projects in the Pilbara region delivered 66 million tonnes of iron ore in the third quarter of the fiscal year, bumping up the total iron ore production output for FY21 to 211 million tonnes. This represents a record high in the total volume of iron ore shipped in 3 quarters. The company’s projections suggest BHP will meet its iron ore output guidance of 276 to 286 million tonnes.

Shares in BHP Group (ASX:BHP) are trading 2.3 per cent lower at $46.34

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