Market Cap: PHP 10.15 billion
Sector: Mining and Oil
Subsector: Mining
Earnings Highlights:
- The company experienced growth in revenue by 17 percent at PHP 4.12 billion in 2017 versus 2016.
- The company booked a net income attributable to parent of PHP 427.99 million last 2017.
APX released its financial results for the second quarter and the first half of the year today. The company was able to book consolidated net income of PHP 216 million during the first half of 2018. This figure is 21 percent higher versus the recorded PHP 178 million in 2017.
Net income attributed to parent company reached PHP 235 million, 14 percent higher versus the same period in 2017. Furthermore, earnings per share (EPS) is also better at PHP 0.04 versus PHP 0.03 in the first half of 2017.
Milling tonnage was slightly higher at 292,164 tonnes in the first half of 2018. It is somewhat higher than the recorded 289,910 tonnes in the same period in 2017. Average milling rate in 2018 is at 1,830 tonnes per day (TPD).
Furthermore, ore grade of 4.09 grams of gold per tonne and mill recovery of 84.11% exceeded prior year values of 3.81 grams of gold per tonne and 82.15%, respectively.
Meanwhile, gold production was at a record high of 32,334 ounces. This is 10 percent higher than the recorded 29,419 ounces in the same period in 2017.
In the second half alone, a total of 16,564 ounces were produced, another all-time record based on quarterly production.
On the other hand, silver production has set a new record at 159,251 ounces, 8 percent higher versus the previous high of 147,502 in 2017.
Revenues of the company grew by 21 percent at PHP 2.4 billion for the first half of the year. The favorable peso-to-dollar exchange rate of PHP 52.56 and a higher price for gold at USD 1,309 per ounce drove the increase in revenues.
In 2017, gold prices were at USD 1245 with an exchange rate of PHP 49.98. Silver prices, however, were slightly lower at $16 per ounce versus the $17 per ounce last year.
The stock broke immediate resistance today based on the daily chart. The 15 EMA and 50 SMA acted as support and springboard for the stock.
Meanwhile, the 15 EMA and 20 SMA are poised for a bullish crossover with the 50 SMA and with the 200 SMA. Volume also supported the rally and is now supporting a bullish profile.
MACD is also bullish. RSI is also bullish and is nearing overbought levels. Support is estimated at 1.58 while resistance is expected at 1.77.
Volume
As of August 6, 2018, at 03:30 PM, the volume of APX is 343.26% of the previous trading day.
Remember the correlation between price and volume.
- bullish price + high volume = high sustainability (price)
- bullish price + low volume = low sustainability (price)
- bearish price + high volume = high sustainability (price)
- bearish price + low volume = low sustainability (price)
Risk Level
APX has a MODERATE-RISK level due to its risk percentage of 56.00%.
Foreign Fund Flow
APX registered a Net Foreign Selling worth P810,930.00 as of August 06, 2018.
On a 30-day trading period, APX is on a Net Foreign Selling worth PHP7,631,220.00.
Top 10 Players’ Sentiment
Trading participants of APX with a 100% Buying and Selling Activity as of Jul-30-2018 at 03:30 PM:
5 out of 50 participants or 10.00% of all participants registered a 100% BUYING activity
17 out of 50 participants or 34.00% of all participants registered a 100% SELLING activity
Top 10 Players’ Buying Average: 1.6405
Top 10 Players’ Selling Average: 1.6420
The psychological average price of the top 10 players as of Jul-30-2018 is from 1.6405 to 1.6420.
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