Stocks of the Hour: Sydney Airport, Evolution Mining, Beach Energy & Kogan.com

Company News

by Lauren Evans

Sydney Airport (ASX:SYD) faced another difficult month in September while border restrictions remained in place. The airline took 42,000 passengers under its wing, down 68.4 per cent from the same month last year and 98.8 per cent lower than September 2019. Shares in Sydney Airport (ASX:SYD) are trading 0.4 per cent lower at $8.31.

Beach Energy’s oil production fell in the September quarter, which led to a fall in its revenue for the period. The energy giant produced 5.7 million barrels of oil for the quarter, down 4 per cent from the prior quarter, while revenue fell 8 per cent from the prior quarter. Shares in Beach Energy (ASX:BPT) are trading 4 per cent lower at $1.44.

Evolution Mining (ASX:EVN) beat its gold production guidance for the September quarter by over 2 per cent. The gold miner said that, throughout the three months, Covid-19 continued to be "proactively managed with no material impact on operations." Shares in Evolution Mining (ASX:EVN) are trading 1.9 per cent higher at $3.79.

Online retailer Kogan.com (ASX:KGN) reported 330.5 million sales in the September quarter, up 21.1 per cent year on year and 23.2 per cent quarter on quarter, driven by Kogan First memberships and changes to its inventory. Kogan First members grew 171.1 per cent year on year and 64.4 per cent quarter on quarter. Shares in Kogan.com (ASX:KGN) are trading 6.1 per cent higher at $11.60.

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