FLX
Stock Code
Stock Exchange
Felix Resources (FLX) is engaged in the operation, identification, acquisition and development of resource-related projects focusing primarily on coal. FLX was listed on the Australian Stock Exchange on the 1st of August 1970. Its average annual revenue reaches approximately $241 million out of its issued capital of $89 million. Its headquarters is located in Brisbane, Australia and to date; around 460 people are employed in the company.
There is a takeover talk of Felix Resources (FLX) by Yanzhou Coal Mining Co. for about A$3 billion or US$ 1.9 billion. It is said that, executive of Yanzhou have visited Felix's Ashton coal mine in New South Wales this week to review its accounts. As a result of this, the share price of Felix Resources Ltd. has gone up by 44% on Friday.
Felix Resources was the overall worst performing stock taking in a 20.07 percent decrease in their share price. Among the worst performing stocks for the week 26 of 2008 of the Australian sharemarket were a mixture of property management, agribusiness, mining, utility infrastructure services: Valad Property (VPG), GPT Group (GPT), Futuris Corporation (FCL), Felix Resources (FLX), Spark Infrastructure (SKI), Great Southern (GTP). These worst performing stocks for week 26 of 2008 recorded losses above 14.44 percent by the end of the trading week.
Sundance Resources (SDL) was the overall best performing stock taking in a 47.05 percent increase. The technical chart of the Sundance Resource stock price shows the rise and fall of their stock price. Last week presented a spike which broke the 100 day exponential moving average. Also note that the chart is in logarithmic scale (which displays price movements which is proportional with respect to percentage values) and also the spike in volume.
Here is an update on the Australian Resources Sector provided by Australian market analyst UBS.
Small Cap Resources
The resource sector has continued to outperform the market as a result of strong global demand. In today’s note, Macquarie Research Equities (MRE) reviews some the smaller cap players that have a strong outlook including Kagara Ltd (KZL) and Felix Resources Limited (FLX)
Kagara Ltd (KZL) – Outperform $5.60 Target
Felix Resources (FLX) was the overall best performing stock taking in a 18.86 percent increase. Among the best performing stocks for the week 21 of 2008 on the Australian sharemarket were a mixture of financial and communication services, energy, gold mining, coal mining, and oil: Computershare (CPU), Paladin Energy (PDN), Lihir Gold (LHG), Felix Resources (FLX), AED Oil (AED), Centennial Coal ( CEY). The best performing stocks for the week 21 managed gains above 8.06 percent by the end of the trading week.
Allco Finance (AFG) was the overall best performing stock taking in a 80.61 percent increase. Among the best performing stocks for the week 17 of 2008 on the Australian sharemarket were a mixture of financial services, property management, coal mining: Allco Finance (AFG), Valad Property (VPG), Westpac Banking (WBC), Macarthur Coal (MCC), Felix Resources (FLX). The best performing stocks for the week 17 recorded gains above 10.52 percent by the end of the trading week.
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