Daily BriefsEnergy & Materials Sector

Daily Brief Energy/Materials: Pertamina Geothermal, MAG Silver Corp, Sherwin Williams Co and more

In today’s briefing:

  • Pertamina Geothermal IPO: The Investment Case
  • Mining Monthly: January Edition
  • Sherwin-Williams: Acquisition Of SIC & Other Drivers

Pertamina Geothermal IPO: The Investment Case

By Arun George

  • Pertamina Geothermal (0125738D IJ)/PGE, a subsidiary of PT Pertamina (Persero) (PERT IJ), is seeking to raise up to US$657 million at a price range of IDR820-945 per share.
  • PGE is the largest geothermal concession holder in Indonesia, in terms of capacity installed, according to Wood Mackenzie.
  • The investment case rest on steady growth, high margins, strong cash generation, manageable leverage, ambitious growth plans and attractive dividend payout.

Mining Monthly: January Edition

By Atrium Research

  • Gold had strong start to the year rising over $100/oz to $1928/oz in January.
  • As we anticipated from our December note, the mining sector had a strong start to the year with gold and copper breaking out to near-term highs up 6% to $1928/oz and 12% to $4.20/lb, respectively, during the month of January.
  • The explorers, despite having a strong January, remain inexpensive and continue to trade at an average of ~$33/oz (in the ground), down ~50% from 2020 highs.

Sherwin-Williams: Acquisition Of SIC & Other Drivers

By Baptista Research

  • Sherwin-Williams’ fourth quarter results were mixed as the company failed to meet the revenue expectations of Wall Street despite a high single-digit percentage sales growth.
  • The company managed an earnings beat as a result of the significant year-over-year gross margin improvement.
  • Sales in North and Latin America increased by double-digit percentages in the industrial sector, offsetting some of the weaker circumstances in Europe and Asia.

💡 Before it’s here, it’s on Smartkarma

Sign Up for Free

The Smartkarma Preview Pass is your entry to the Independent Investment Research Network

  • ✓ Unlimited Research Summaries
  • ✓ Personalised Alerts
  • ✓ Custom Watchlists
  • ✓ Company Data and News
  • ✓ Events & Webinars