KGI Singapore Research

Singapore's leading broker offering Futures, FX, Equities and Wealth Management.

Technical Analysis – 13 August 2024

United States | Singapore | Hong Kong | Earnings

EOG Resources, Inc. (EOG US) A graph of stock market Description automatically generated

  • Shares closed higher above the 5dEMA. 5dEMA recently crossed the 20dEMA and 50dEMA and the 20dEMA is about to cross the 50dEMA.
  • MACD just turned positive, RSI is constructive.
  • Long – Entry 128 Target 136, Stop 124
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Marathon Oil Corp. (MRO US)

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  • Shares closed higher above the 50dEMA. 5dEMA is about to cross the 20dEMA.
  • MACD is about to turn positive, RSI is constructive.
  • Long – Entry 27.7, Target 29.7, Stop 26.7

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HongKong Land Holdings Ltd. (HKL SP)

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  • Shares closed higher above the 200dEMA. 5dEMA just crossed the 20dEMA and 50dEMA and is about to cross the 200dEMA.
  • MACD just turned positive, RSI is constructive.
  • Long – Entry 3.35, Target 3.55, Stop 3.25

DFI Retail Group Holdings Ltd. (DFI SP)

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  • Shares closed higher above the 50dEMA. 5dEMA is about to cross the 20dEMA.
  • MACD just turned positive, RSI is constructive.
  • Long – Entry 1.84 Target 2.04, Stop 1.74

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Beigene Ltd (6160 HK)

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  • Shares closed at a high since Nov 2023. 5dEMA recently crossed the 200dEMA and the 20dEMA is about to cross the 200dEMA.
  • MACD is positive, RSI is at an overbought level.
  • Long – Entry 110, Target 120, Stop 105
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Dongfang Electric Corp Ltd (1072 HK) A graph of stock market Description automatically generated

  • Shares closed above the 20dEMA.
  • MACD is positive, RSI is turning constructive.
  • Long – Entry 10.40, Target 11.40, Stop 9.90

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Barrick Gold Corp (GOLD)

  • 2Q24 Revenue: $3.162B, +11.7% YoY, beat estimates by $32M
  • 2Q24 Non-GAAP EPS: $0.32, beat estimates by $0.05
  • FY24 Guidance: Reaffirm AISC gold to be between $1,320/oz to $1,420/oz, attributable gold production to be 3.9M oz to 4.3M oz, vs consensus of 4.0M oz and gold cost of sales to be $1,320/oz to $1,420/oz. Attributable copper production to be 180,000 tonnes to 210,000 tonnes, copper AISC to be between $3.10/lb to $3.40/lb and copper costs of sales of $2.65/lb to $2.95/lb.
  • Dividend: Announced the declaration of a dividend of $0.10 per share for Q2.
  • Comment: Barrick Gold exceeded Wall Street expectations for its second-quarter profit, driven by higher gold and copper prices, despite lower production volumes. The company reported a 25% increase in net earnings, with its EBITDA margin rising 17% QoQ to 48%. Revenue for the quarter reached US$3.16bn, up from US$2.83bn a year ago. Adjusted profit per share was US$0.32, surpassing estimates of US$0.28, while free cash flow surged over 400% to US$340mn. Barrick produced 948,000 ounces of gold, down from 1,009,000 ounces last year, and 43,000 tonnes of copper, down from 48,000 tonnes. However, higher realized prices for gold at US$2,344 per ounce (up from US$1,972) and copper at US$4.53 per pound (up from US$3.70) offset the decline in production. The company reaffirmed its annual gold production outlook and maintained its quarterly dividend at US$0.10 per share. Key growth projects include the Goldrush and Fourmile projects in Nevada, the Pueblo Viejo expansion in the Dominican Republic, and significant copper initiatives in Zambia and Pakistan. Barrick also introduced a pioneering biodiversity assessment tool to bolster its sustainability efforts. Despite these achievements, the company has yet to receive a response from the UN Human Rights Council regarding allegations at its North Mara Gold Mine. We expect Barrick Gold to capitalize on rising gold prices amid ongoing macroeconomic uncertainty and geopolitical risks. 3Q24 recommended trading range: $17 to $22. Positive Outlook.

巴里克黄金 (GOLD)

  • 24财年第二季营收：31.62亿美元，同比增幅11.7%，超预期3,200万美元
  • 24财年第二季Non-GAAP每股盈利：0.32美元，超预期0.05美元
  • 24财年指引：重申总维持成本黄金价格在1320美元/盎司至1420美元/盎司之间，可归属黄金产量为390万盎司至430万盎司，而共识为400万盎司，黄金销售成本为1320美元/盎司至1420美元/盎司。可归属的铜产量为18万吨至21万吨，铜的维持成本为3.10美元至3.40美元/磅，铜的销售成本为2.65美元至2.95美元/磅。
  • 股息：宣布宣布第二季度每股股息0.10美元。
  • 短评：尽管产量下降，但受黄金和铜价上涨的推动，巴里克黄金第二季度利润超出了华尔街的预期。该公司公布净利润增长25%，EBITDA利润率环比增长17%，至48%。该季度营收达到31.6亿美元，高于去年同期的28.3亿美元。调整后每股利润为0.32美元，超过预期的0.28美元，自由现金流飙升超过400%，达到3.4亿美元。巴里克的黄金产量为94.8万盎司，低于去年的100.9万盎司;铜产量为4.3万吨，低于去年的4.8万吨。然而，黄金的实际价格从每盎司1,972美元上升到2,344美元，铜从每磅3.70美元上升到4.53美元，抵消了产量的下降。该公司重申了其年度黄金产量预期，并维持每股0.10美元的季度股息。主要增长项目包括内华达州的Goldrush和Fourmile项目，多米尼加共和国的Pueblo Viejo扩建项目，以及赞比亚和巴基斯坦的重大铜矿项目。巴里克还引入了一种开创性的生物多样性评估工具，以加强其可持续性工作。尽管取得了这些成就，但该公司尚未收到联合国人权理事会对其北马拉金矿指控的回应。我们预计，在宏观经济不确定性和地缘政治风险持续存在的情况下，巴里克黄金公司将利用金价上涨的机会获利。24年第三季度建议交易区间：17至22美元。积极前景。