ASX:PRNMetals and Mining
Perenti (ASX:PRN) Shares Eye Margin Gains Against Heavy Capex
Perenti walked into this result with its stock up about 10% over the past month and trading on an 11.4x P/E that already looked modest beside peers. The market reaction will likely focus on one thing: the mining contractor produced record adjusted earnings before interest and tax of A$340 million and lifted net profit after tax to A$192 million while keeping revenue steady at about A$3.46 billion.
For a stock priced below some valuation estimates and below sector multiples, that combination...