Stocks of the Hour: Beston Global Food Company, TerraCom, Metals Australia

Company News

by Abbey Phillipps

Beston Global Food Company (ASX:BFC) has announced their results for the half year period to 31 December 2022. The Company has recorded a record revenue, up 33% year on year, and a record margin of $15.7 million. In response, the Chairman of BFC, Dr Roger Sexton AM, said, “the building of strong results underlines the benefits that Beston is experiencing under their leadership.” Shares are trading 2.1 per cent higher at 2.45 cents.

TerraCom Limited (ASX:TER) announced a fully franked dividend of 7.5 cents per fully paid ordinary share. It is important to note that this applies to the quarter ended 31 December 2022, and represents almost 10% of the price they are currently trading at. Commenting on the dividend, Non-Executive Chairman, Graeme Campbell, said, “Combined with the 10 cent dividend already paid in December 2022, the total return to shareholders this financial year represents a dividend yield of approximately 23%, based on the current share price.” Shares are trading 1.99 per cent higher at 77 cents.

Metals Australia (ASX:MLS) has announced that a premium battery grade of 99.96% spherical graphite purity has been achieved at their Lac Rainy Graphite Project in Quebec. In response, Chairman Mike Scivolo commented, “This places the Lac Rainy Project in the top tier of high-quality graphite projects, with an ideal location close to North American markets where demand for such high-quality graphite products is high.” Shares are trading 8 per cent higher at 5.4 cents.

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