Stocks of the Hour: InvoCare, Perseus Mining & Zip Co

Company News

by Lauren Evans

Lifting of Covid-related restrictions helped mourners say goodbye to loved ones. This helped InvoCare’s (ASX:IVC) profit rebound for 2021. Profit after tax came in at $80.2 million from a loss of $11.5 million loss in the prior year period. Revenue grew 11 per cent to $532.5 million, while its EBITDA rose 22 per cent to $125.5 million. A final dividend of 11.5 cents per share is set to be paid in April. Shares are trading 0.7 per cent higher at $12.46.

Perseus Mining (ASX:PRU), which already owns a 15 per cent stake in Orca Gold, is set to acquire the remaining shares for $234.6 million (C$215 million). Perseus offered the Canadian miner 0.56 Perseus shares for every Orca share held. The board has recommended its shareholders vote in favour of the acquisition. Shares are trading 0.9 per cent higher at $1.76.

Buy now pay later darling Zip Co (ASX:Z1P) is in a trading halt ahead of an announcement. The move comes after talks of a potential takeover of Sezzle (ASX:SZL). Their proposed earnings update was postponed for later this week. Shares last traded at $2.21 on Friday.

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