Tyman (TYMN) shares ticked up 7.83% to 447.25p as Berenberg upgrades to ‘buy’
Shares in the international industrial equipment supplier jumped today after Berenberg upgraded the stock from 'buy' from 'hold' and raised the price target to 500p from 375p.
"We think the shares will outperform as management is focused on organic growth and margin expansion, the business is highly cash-generative with low leverage and potential for non-dilutive M&A, and it is supported by favourable macro tailwinds," stated Berenberg.
It said, “Taken together, we think that there is upside risk to the current consensus revenue compound annual growth rate of 3% from FY21 to FY23 (or +7% versus 2019 by 2023).”
Eurasia Mining (EUA) shares soared 29.73% to 24p as operations progress in Russia
Shares in the palladium, platinum, rhodium, iridium and gold producing company jumped on Wednesday after the company reported operational progress across its projects in Russia.
Eurasia Mining confirmed to investors that its West Kytlim platinum group metals mine in the Urals, three washing plants are now operational while several pit areas are being stripped.
Christian Schaffalitzky, Executive Chairman of Eurasia Mining said the joint venture with Rosgeo was coming to “a successful conclusion” with DFS, JORC reserves as well as the EPCF (engineering, procurement, construction and finance) contract already signed.
Kazera Global (KZG) shares jumped 16.33% to 1.425p as it aims for profitable production
The investment company said it has concluded a plan with DJ Drilling, which it believes will lead to the profitable production of Tantalum from its mine in Namibia before the end of 2021.
Kazera said an $11m investment from Namibian prospective investors is also still on track.
Joint CEO, Larry Johnson stated: "Whilst we remain focused on the accelerated opportunities that an investment of $11million would create, we are conscious that the process has taken longer than anyone had originally contemplated as a result of outside factors.”
He added that, “Rather than continue to wait, the Board has elected to move forward, albeit on a smaller scale, with a view to accelerating operations at the Mine once the investments come through and in a manner that is non-dilutive to existing shareholders."
Challenger Energy (CEG) shares rose 15.91% to 1.275p as the group starts selling oil
Last week, the Group said it was selling oil from the Saffron-2 appraisal well and generating immediate revenues after establishing a commercial production rate at the site of 81 bopd.
To date, the Caribbean and Atlantic margin focused oil and gas company has established a commercial production rate of 81 barrels of oil equivalent per day (bopd) at the Saffron-2 appraisal well in Trinidad and Tobago from around 66 feet of Middle Cruse reservoir units.
The Company said it expects to increase production by optimising the production parameters as flow rates become better understood, as well as by producing from a further 11ft of reservoir as yet unperforated in the Upper Cruse, to add to the production mix in due course.
WH Smith (SMWH) shares fell 5.30% to 1,545.75p as travel continues to be impacted
In a trading update ahead of its published final results for the year to 31 August 2021 in November 2021, the Group said that it is encouraged by the improving trends despite the fact that its Travel and High Street businesses continue to be impacted by the Covid-19 pandemic.
While passenger numbers remain significantly down versus 2019 levels in UK Travel, it continues to see a gradual recovery in sales as restrictions have eased in July and August.
Outside of the UK, its North America business has performed well throughout July and August, with sales at 93% compared to 2019 levels. As a result, it now remains confident in the strength of our North American business and in winning further stores in this market.
As at 28 August 2021, the Group remains in a strong position in relation to liquidity and cash management with cash on deposit of £107m. WH Smith said it expects the outcome for the year to 31 August 2021 to be slightly ahead of expectations as outlined on 8 July 2021.