Stocks of the Hour: Adbri, Pro Medicus & Evolution Mining

Company News

by Lauren Evans

Adelaide based cementer Adbri (ASX:ABC) has acquired the sand operations of Metro Quarry Group (MQG) in a 50/50 joint venture with Barro. Adbri will initially fund $30 million into the joint venture. Shares in Adbri (ASX:ABC) are trading 1.6 per cent lower at $3.18.

Pro Medicus (ASX:PME) has inked a $40 million deal with Novant, marking its seventh major US contract in 18 months. In a 7 year partnership, Novant Health will use Pro Medicus' imaging platform to replace the one it already had. Shares in Pro Medicus (ASX:PME) are trading 0.3 per cent lower at $54.47.

Evolution Mining (ASX:EVN) has been given government approval for its Cowal Gold Operation in NSW to develop the underground mine. The company says its $380 million investment will generate around 160 new jobs at the start and 230 long-term jobs Shares in Evolution Mining (ASX:EVN) are trading 3.2 per cent higher at $3.60.

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