Stocks of the Hour: Mesoblast, Origin Energy & Greenvale Mining

Company News

by Lauren Evans

Mesoblast (ASX:MSB) posted a 5 per cent increase in revenue in the March quarter, and a 49 per cent increase over the nine months to March 31. The biotech company reported a $US21.3 million ($32.15 million) loss after tax for the quarter, compared to its $US26.5 million loss in the prior year period. Shares are trading flat at $0.98.

Origin Energy (ASX:ORG) updated its earnings guidance amid extreme market volatility across commodity markets, including high coal and gas prices. As a result, the company withdrew all guidance for the 2023 fiscal year and expects 2022 earnings in Energy Markets to be between $310 and $460 million, which is lower than the original guidance of between $450 and $600 million. Shares are trading 11.5 per cent lower at $6.06.

Greenvale Mining (ASX:GRV) is set to acquire an initial 51 per cent stake in geothermal energy company Within Energy. The acquisition aims to provide Greenvale with a clear pathway to fast-track the development of the Alpha Project in Central Queensland. “In addition to powering the Alpha Project, we see outstanding potential for these geothermal assets to attract new carbon neutral businesses to the region," said managing director Neil Biddle. "Green energy and the move towards decarbonisation represent an unprecedented growth opportunity in the modern era, and this acquisition puts Greenvale at the forefront of this global transition." Sares are trading 17.1 per cent higher at $0.21.

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