CAPD tipped overnight on Master Investor30 May 2024 07:39
by mark watson-williams:
"capital limited (lon:capd) – mining for better valuation
this is another company that is holding its agm shortly, in the city on wednesday 5th june.
the group is a leading mining services operation providing a complete range of drilling, mining, maintenance and geochemical laboratory solutions to customers within the global minerals industry.
its services include exploration, delineation and production drilling; load and haul services; maintenance; and geochemical analysis.
although the group’s corporate headquarters are in the uk, it has established operations in côte d’ivoire, canada, democratic republic of congo, egypt, gabon, ghana, guinea, kenya, mali, mauritania, nigeria, ****stan, saudi arabia, tanzania and the usa.
analysts david butler and charlie bendon at tamesis partners have a 160p price objective out on the group’s shares, noting that:
“we remain positive on the outlook for a strong operational performance through 2024.
key growth projects in the capital business are ramping well, projects continue to be won with high quality clients and rigs are being mobilised to higher quality contracts.
msalabs is developing momentum, both at their ngm labs contract and their partnership with barrick.
the mining services business has the potential for another big contract.”
the group’s shares have at long last topped the 100p level, closing at 102.88p, and looking very capable of moving significantly higher."