Stock research on global mid-cap companies, Evaluate Research

Evaluate Research

Stock research on global mid-cap companies

Evaluate Research provides institutional quality stock research on small-cap and  mid-cap companies on a global basis, thus helping connect investors with the company.

At Evaluate Research, we provide free of cost to all investors a 20-25 page Initiation Report which evaluates in great detail all aspects of the company:  growth opportunities, catalysts, business description, competitive positioning, SWOT analysis, risks, etc.  In addition, we determine specific price targets for the company based on detailed 5-year complete forecasts of financial statements including IS, BS, CF, ratios, etc.  Finally, whereas many sell-side brokers offer sketchy and irregular ongoing maintenance research of companies, if not outright dropped or termination of coverage, at Evaluate Research we systematically monitor and regularly publish Update Notes covering quarterly earnings, major corporate events, etc.

All of the research reports are broadly and freely disseminated globally to leading Fund Managers and analysts who invest specifically in mid-size equities, and also on leading investment information platforms including: Bloomberg, Thomson Reuters, FactSet etc.

Equity Bottom-Up

Buy–rated Agritrade Resources is in a sweet spot in its life cycle, with surging growth as its core coal operations achieve critical mass among favorable Asian market conditions. Agritrade has grown its revenues at 26% CAGR over the last five years, while net income has had a rapid 27% CAGR over the same period, off of a small base. In our conversations with senior management, they indicated that they will strive to maintain historical growth rates in the mining business at more than 20%. Since its initial entry into the mining industry in 2010, the company has grown production from 2.5mn tonnes in FY03/2012 to ~5.7mn tonnes in FY03/2018. With the purchase of the second longwall system at its Merge Mine and plans to purchase a third one in the coming years, the total production capacity of the mine is expected to increase from 2.5 mn tonnes currently to 3.5 mn tonnes and subsequently to 5.0 mn tonnes over the next few years. As such we conservatively forecast the company’s coal production to increase to approximately 10 mn tonnes by FY03/2023, growing at a CAGR of more than 12% over the period.
Analyst: Ajeya Patil

Buy–rated Agritrade Resources is in a sweet spot in its life cycle, with surging growth as its core coal operations achieve critical mass among favorable Asian market conditions. Agritrade has grown its revenues at 26% CAGR over the last five years, while net income has had a rapid 27% CAGR over the same period, off of a small base. In our conversations with senior management, they indicated that they will strive to maintain historical growth rates in the mining business at more than 20%. Since its initial entry into the mining industry in 2010, the company has grown production from 2.5mn tonnes in FY03/2012 to ~5.7mn tonnes in FY03/2018. With the purchase of the second longwall system at its Merge Mine and plans to purchase a third one in the coming years, the total production capacity of the mine is expected to increase from 2.5 mn tonnes currently to 3.5 mn tonnes and subsequently to 5.0 mn tonnes over the next few years. As such we conservatively forecast the company’s coal production to increase to approximately 10 mn tonnes by FY03/2023, growing at a CAGR of more than 12% over the period.
Analyst: Ajeya Patil

Surging Growth, Strong Asset Base, Underfollowed Stock

Agritrade Resources is in a sweet spot in its life cycle, with surging growth as its core coal operations achieve critical mass among favourable Asian market conditions. Agritrade has grown its revenues at 22% CAGR over six years, while net income has had a rapid 42% CAGR over a seven year period, off of a small base. Indeed, Agritrade issued a Positive Profit Alert several days ago indicating mining segment revenues will increase by more than 60%, leading to a robust greater than 100% growth in profits for the just ended FY 03/2018. In our conversations with senior management a few days ago, they indicated that they will strive to maintain historical growth rates in the mining business in the range of 25%-30%. Since its initial entry into the mining industry in 2010, the company has grown production from 2.5mn tonnes in FY03/2012 to ~5mn tonnes in FY03/2017 and the company’s eventual target of 6mn tonnes. With 35+ years of proven coal reserves life, Agritrade has strong customer relationships with established large entities in China [24% of sales], India [22% of sales], in addition to a strong presence with nearly 50% of revenues in its home Indonesian market. As detailed later in this update note, the demand outlook for coal in these three key markets remains strong, notwithstanding growth in newer alternative energy sources.
Analyst: Ajeya Patil

Agritrade Resources is in a sweet spot in its life cycle, with surging growth as its core coal operations achieve critical mass among favourable Asian market conditions. Agritrade has grown its revenues at 22% CAGR over six years, while net income has had a rapid 42% CAGR over a seven year period, off of a small base. Indeed, Agritrade issued a Positive Profit Alert several days ago indicating mining segment revenues will increase by more than 60%, leading to a robust greater than 100% growth in profits for the just ended FY 03/2018. In our conversations with senior management a few days ago, they indicated that they will strive to maintain historical growth rates in the mining business in the range of 25%-30%. Since its initial entry into the mining industry in 2010, the company has grown production from 2.5mn tonnes in FY03/2012 to ~5mn tonnes in FY03/2017 and the company’s eventual target of 6mn tonnes. With 35+ years of proven coal reserves life, Agritrade has strong customer relationships with established large entities in China [24% of sales], India [22% of sales], in addition to a strong presence with nearly 50% of revenues in its home Indonesian market. As detailed later in this update note, the demand outlook for coal in these three key markets remains strong, notwithstanding growth in newer alternative energy sources.
Analyst: Ajeya Patil

Hong Kong

Agritrade Resources Limited provides energy solutions. The Company offers technical and production niche, together with its integrated supply chain solutions from pit-to-port, enables the company to transport the coal efficiently and reliably to its customers. Agritrade Resources serves customers worldwide.

Agritrade Resources (1131 HK)

Surging Growth, Strong Asset Base, Underfollowed Stock

Buy–rated Agritrade Resources is in a sweet spot in its life cycle, with surging growth as its core coal operations achieve critical mass among...

Evaluate Research

Surging Growth, Strong Asset Base, Underfollowed Stock

Agritrade Resources is in a sweet spot in its life cycle, with surging growth as its core coal operations achieve critical mass among favourable...

Evaluate Research