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SHARE WATCH: Anglogold, Sasol among 5 notable JSE movers

Aug 29 2017 12:27
Kirk Swart
shares,stocks,jse

(iStock)

Company Data

ANGLOGOLD ASHANTI LIMITED [JSE:ANG]

Last traded 292
Change -7
% Change -2
Cumulative volume 1120117
Market cap 0

Last Updated: 01/01/0001 at 12:00. Prices are delayed by 15 minutes. Source: McGregor BFA

FAMOUS BRANDS LIMITED [JSE:FBR]

Last traded 80
Change 2
% Change 2
Cumulative volume 50979
Market cap 0

Last Updated: 01/01/0001 at 12:00. Prices are delayed by 15 minutes. Source: McGregor BFA

ADAPT IT HOLDINGS LIMITED [JSE:ADI]

Last traded 4
Change 0
% Change 0
Cumulative volume 72470
Market cap 0

Last Updated: 01/01/0001 at 12:00. Prices are delayed by 15 minutes. Source: McGregor BFA

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Cape Town - Kirk Swart, share analyst at Overberg Asset Management, looks at shares that are making significant moves on the Johannesburg's Stock Exchange in this week's share watch.

Sasol [JSE:SOL]

Sasol reported a decline in full year earnings of 15% last Monday and sighted a stronger rand, a provision for tax litigation and labour issues as the main culprits. The delay in the Lake Charles US project has put the handbrakes on Sasol's growth. Once completed, the chemical plant will triple Sasol's chemical production capacity in the US.

The operation is expected to be completed by the second half of 2019.  Short-term movements in the oil price will still drive the Sasol share price. Currently Sasol is trading at a price of R388 per share in a price earnings ratio of 11.

Famous Brands [JSE:FBR]

Famous Brands has lately made it into the media for all the wrong reasons. The fast food group gave guidance that half year margins will be lower due to tough trading conditions, not only in South Africa but also in England.

On the back of the announcement it came to light that one of the directors sold 150 000 shares at R121.01 each for just over R18m. Questions are being raised as the shares were sold just before the announcement.

The company said that the UK acquisition, Gourmet Burger, is going to take longer to contribute to group profitability than expected. Famous brands is trading at R120 and on a price earnings ratio of 28.  

Advtech [JSE:ADH]

Advtech is a specialised private education group that is in direct competition with Curro. In its interim results for the year ending June 2017, revenue increased by 22% and normalised earnings per share was up 23%.

This is in line with its growth strategy and both the tertiary and resource divisions have performed exceptionally well. The results from the school division were somewhat muted. Advtech is trading at R16.90 per share on a price earnings ratio of 23.

Adapt IT [JSE:ADI]

Adapt IT released its preliminary financial results on Monday. It was expected that Adapt IT will have a stronger second half of their financial year. Shareholders will find that organic growth has been very slow for the full financial year at 6%. Acquisitive growth was 19%, bringing total revenue growth to 25%.  

More positively, Earnings Before Interest, Taxes and Amortisation (EBITA) increased by 18% with Normalised Headline Earnings increasing 22%. AdaptIT is trading at R8,69 on a price earnings ratio of 15.

AngloGold Ashanti [JSE:ANG]

On Monday gold went through $1 300 per ounce on the back of world equity market weakness. The gold price has continued to creep up steadily over the past few months as geopolitical risks are ever present.

AngloGold Ashanti has an all-in production cost of just over a $1 000 per ounce. At $1 300, the margins are looking good and the company can easily erase the loss experienced in the first six months of 2017. Anglogold is trading at a price of R128 per share.

Do you agree with Kirk's stock picks? Send us yours and tell us why.

*Kirk Swart is an analyst at Overberg Asset Management, an Authorised Financial Services Provider (No 783) which specialises in the private management of local and global discretionary portfolios as well as pension products.

Disclaimer: The above article does not constitute financial advice and is not a recommendation. Investors must always seek the advice of professionals and trade with caution. Under the ECT Act and to the fullest extent possible under the applicable law, Fin24 disclaims all responsibility or liability for any damages whatsoever resulting from the use of this site in any manner.

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