Stocks of the Hour: Evolution Mining, Sonic Healthcare, Altium

Company News

by Melissa Darmawan

The pursuit to grow copper exposure continues with the next resources giant to ink a deal. Evolution Mining (ASX:EVN) has agreed to take full control of the Ernest Henry mine in Queensland for $1 billion. The miner already receives revenue from copper and silver given their 30 per cent stake, but with this deal, revenue is on the rise as they'll own the full pot. The move comes as the ingredient for the electric vehicle battery is set to be in high demand. Shares in Evolution Mining (ASX:EVN) are charging ahead by almost 10 per cent at $4.40.

A pathology giant backing up the nation in the fight against the coronavirus is Sonic Healthcare (ASX:SHL). Sonic has provided more than one million Covid-19 jabs in more than 200 medical centres, and their results for the four months to October shows. Revenue grew by 5 per cent to over $3 billion while EBITDA rose 16 per cent to $991 million. Shares in Sonic Healthcare (ASX:SHL) are trading 3.3 per cent higher at $39.85.

Altium (ASX:ALU) a software company is on track to hit earnings and revenue goals after a strong first four months. They're confident to achieve full-year revenue growth of 16 to 20 per cent in the order of US$209 to US$217 million, with an EBITDA margin of 34 to 36 per cent. The software company helps users design electronic products like printed circuit boards, the green board you find in electronic devices. Shares in Altium (ASX:ALU) are trading 2.8 per cent higher at $40.97.

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