Good afternoon, and welcome to the HotCopper HotList column. Every week, ASX companies of every shape and size go through the ups and downs that is the Australian trading rollercoaster. Fortunes made, and equity lost each time the bourse opens – which is why watching market trends is so key.
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You certainily don’t have to go it alone, though: We’ve put together the “HotList,” the top ten ASX companies added to HotCopper watchlists in Week 6 — and this Friday, we’re starting with much-dumped CSL.
1. CSL Ltd
In a column usually dominated by up-and-comers, it’s interesting to see CSL Limited (ASX:CSL) take the top spot through WK7, though it’s not overly surprising – the fallen blue-chip has been a big story in February earnings.
It’s been nearly all misery for CSL shareholders, with a -15.9% drop in value through the week (to time of writing) to deepen the -40% YTD performance.
Things have gotten so bad that some have even come out and declared CSL is “no longer a blue-chip,” though I’m not sure I’d go that far just yet.
HotCopper users are obviously interested in some shaved value on the healthcare major, too, because some hundreds have added CSL to their Watchlists. At times, the $74 billion company has been worth over $300/sh. Should it rebound to that from its $152 marker today, that would be some hefty profits.
To mid-arvo Friday, CSL shares are fetching closer to $152.53.
2. Pro Medicus
Coming in second is another earnings victim: Pro Medicus (ASX:PME). Similarly caught up after a bad miss, Pro Medicus dumped nearly -30% through the middle of the week and is now selling at $123/sh on Friday afternoon.
I can only imagine HotCopper forum users are chasing rebound value here – everyone commenting regularly across the threads is in it to try and make money, after all – after February’s report dumped it nearly $40 a piece. They may also have simply read the Morgans note that urged a ‘buy’ move.
You can read it here: “The longer-term outlook [has] strengthened with more than A$280 million of new contracts signed and five-year contracted revenue now around $1.1, though market remains wary of a heavy 2H execution load.”
I think “wary” is right here, with most seemingly thinking along those lines today. Whether there’s an opportunity to be found is someone else’s guess, but I can see why users are Watchlisting PME after a torrid week.
PME shares are today selling at $122.99/ea.
3. BMG Resources
And finally, back to a bit more normality with a mining company (explorer) rounding out the HotList top three. (Though I suppose I should be counting my lucky stars its not one of those three-company renames.)
BMG Resources (ASX:BMG) is a gold and lithium exploration company (right in every HotCopper user’s wheelhouse) that just started a “major” 10,000-metre diamond drilling campaign at its Western Australian project, Abercromby. The objective is mainly to hike an existing 518Koz resource.
Eyes were drawn to BMG after it declared it had “clear scope for further growth” and began showing off the high-lodes it had already found. The Market Link understands some early results should come in by mid-March.
Price-wise, BMG shares are selling at 3.5c today, +116% YTD.
Then, rounding out the HotList in Week 6 was:
- Electro Optic Systems
- Cobre
- WiseTech
- New Age Exploration
- Web Travel Group
- LinQ Minerals
- And, Xero
Finding the HotList page
To find HotCopper’s Hotlist, click on “My Account” and then “My Profile” on the HotCopper home page. Then, select “My Watchlist,” where you see all your followed stocks and scroll to the bottom. The HotList section is there.
Or, you can go straight through to the HotList section with this link right here.
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The material provided in this article is for information only and should not be treated as investment advice. Viewers are encouraged to conduct their own research and consult with a certified financial advisor before making any investment decisions. For full disclaimer information, please click here.