Ophir Energy

January was a tough month for investors in Asia and Africa-focused gas and oil explorer Ophir Energy Plc (LSE: OPHR), but it was a tough month for pretty much every energy stock, as fears of a Chinese hard landing intensified. In the teeth of the storm, when the stock had plunged 10% in a week, I said Ophir was tough enough to battle through 2016. I’m therefore happy to report it’s up 13% in the last week.

The recovery is largely be down to oil hitting a two-month high, with Brent crude creeping above $37 a barrel (up from just $27 in January). It may struggle to climb higher with US crude inventories spiking to the highest level since April 2015, which suggests that supply will outstrip demand for some time yet, but any progress is welcome.

Ophir’s healthy balance sheet includes $650m at year-end that should cover a couple of years’ worth of capex and exploration. The recent drop in gas and LNG prices, particularly in Ophir’s Asia market, is a concern. Existing investors will still believe they can convert losses into gains but new investors should tread carefully.

Genel Energy

2015 was a tough year for Kurdistan-based oil explorer Genel Energy (LSE: GENL), which saw revenues plunge 34% to $334m due to falling oil prices, more than offsetting a 22% rise in production volumes to 84,900 bopd. The good news that the Kurdish Regional Government committed to regular payments for oil exports was more than offset by the dire news of the 75% downgrade in estimated 2P reserves at its Taq Taq field, where Genel generates around 60% of its production.

Chief executive Murat Özgül says there’s still cash to be made from 264m barrels of net 2P reserves, given that both Taq Taq and Tawke remain “low-cost oil fields by any global benchmark“. The business looks relatively solid for now, with a cash balance of $455m, against $489m in 2014, and forecast 2016 revenues of $160m to $220m, assuming $35 a barrel Brent. With the oil price rising and the bad news on Taq Taq in the price, few will want to sell now.

Xtract Resources

Mining specialist Xtract Resources (LSE: XTR) fell almost 20% in February and has failed to capitalise on the recovery in commodity prices and stocks. As well as falling prices, management has had the extra worry of failing to meet its volume targets, as its Chepica mine only has one exit point. Q3 revenues fell 16% to $375,802, although a 44% cut in costs helped drive a 39% rise in profits to $208,269. I suspect most investors will be willing to run their losses from Xtract that little bit longer, but fresh commodity price slippage will hurt.

The post Should Investors Cut Their Losses On Ophir Energy Plc, Genel Energy PLC & Xtract Resources PLC? appeared first on The Motley Fool UK.

Bank on the backfoot

Banking giant HSBC (LSE: HSBA) continues to frazzle investor nerves as fears over economic cooling in its critical Chinese marketplace intensify. The business has seen its share price erode 14% since the turn of 2016, including a 7% fall punched in February.

‘The World’s Local Bank’ announced last month that underlying revenues tanked 8% year-on-year between October and December, to $12.9bn. And worryingly HSBC warned that “China’s slower economic growth will undoubtedly contribute to a bumpier financial environment,” pointing to further weakness down the line.

Meanwhile, the company’s high exposure to the commodity markets prompted a gargantuan $1.6bn impairment charge in the fourth quarter, while PPI-related charges are also expected to keep chugging higher — the bank hiked provisions by $549m last year.

I’m convinced that the long-term promise of HSBC’s Asian markets remains intact amid galloping affluence and population levels. However, the prospect of worsening macroeconomic turbulence could put paid to returns in the more immediate future, a potentially-crushing prospect for the share price.

In rude health

Investors have also fallen out of love with drugs giant AstraZeneca (LSE: AZN) in recent weeks, the stock conceding 8% of its value during the month of February alone.

The market was spooked after the Cambridge business warned that sales should experience a “low to mid single-digit percentage decline” in 2016 thanks to the overhanging problem of patent losses across key labels.

AstraZeneca is relying heavily on development of the next generation of sales drivers to put the problem of exclusivity losses to bed and get earnings chugging higher again.

But the business of drugs development is naturally a hit-and-miss business, as illustrated by news this week that AstraZeneca’s much-awaited tremelimumab cancer battler failed to yield positive results when administered on its own. Oncology has been identified as one of the company’s future growth areas.

Still, I believe AstraZeneca remains a hot stock prospect for the coming years. Despite Monday’s disappointing testing news, the pharma giant still has a terrific record of getting product to market, assisted by vast organic investment not to mention the firm’s ongoing M&A drive. And I expect revenues to explode in the years ahead as medicines demand in established and emerging markets ignites.

Digger dives

Like HSBC and AstraZeneca, mining specialist Xtract Resources (LSE: XTR) also had a month to forget in February, the stock conceding 17% of its value during the period. And I believe the business could have much further to fall in the near term and beyond.

Xtract Resources bounced early last month after receiving approval to reopen its Chepica copper and gold project in Chile following recent earthquake activity.

But investor appetite has deteriorated since as fears concerning future revenues have emerged again — the business saw revenues sink 16% during October-December, to $375.8m, thanks to deteriorating ore grades.

And while copper prices have recovered more recently, I believe a backcloth of slowing demand and abundant market supply could continue to hamper Xtract Resources’s sales performance. As a consequence I believe the business remains a risk too far for savvy investors.

The post Will February Failures HSBC Holdings plc, AstraZeneca plc & Xtract Resources PLC Rebound In March? appeared first on The Motley Fool UK.

However, each company has its pros and cons, and some investors may not feel comfortable buying all three darlings to minimise risk and profit from the upside available.

So, if you could only pick one of these three AIM champions, which one deserves your cash?

Impressive qualities

Jubilee, 88 Energy and Xtract all have their attractive individual qualities. But rather than trying to figure out which company has the best prospects (a process that involves a significant degree of guesswork) I’m going to evaluate each company based on its most recent financial statements and progress over the past 12 months.

Jubilee’s management has been working flat out over the previous 12 months to get the company producing platinum and generating profit for investors. Today, the company announced that the erection of the ASA Metals processing plant has now been completed and when combined with the Hernic Tailings project, Jubilee will have an annualised process capacity of more than 900,000 tons from the two platinum surface tailings projects. Both projects are set to come on-stream this year. Jubilee has received funding terms from a major financial institution for the debt element of the project financing required to bring its platinum projects into operation.

So, if everything goes to plan, Jubilee should be a fully functioning platinum producer by the end of 2016 giving investors a concrete timeframe with which to judge Jubilee’s management.

Hitting targets

Xtract has transformed itself into one of AIM’s most exciting small businesses over the past year. Indeed, the company has acquired a number of small mining assets for attractive prices, which have short payback periods.

City analysts expect Xtract to report a pre-tax profit of £2.9m for full-year 2016, the company’s first profit in more than five years. On a per share basis, forecasts suggest Xtract could earn 0.02p this year, which implies that the firm’s shares are trading at a forward P/E of 9. If everything goes to plan and Xtract meets City forecasts, the company could be a great long-term investment for your portfolio.

A long way to go

Lastly, 88 energy, which surged last week following the release of the latest results from the Icewine well. Unfortunately, when compared to the likes of Jubilee and Xtract, 88 Energy looks like the odd one out. The company still has a long way to go before it can claim to be on the verge of production, and funding for its flagship Icewine project could still be an issue.

Overall, Xtract has shown over the past 12 months that the company can be trusted to meet its output goals and generate a return for investors. With this impressive record behind it, Xtract looks to be the best AIM champion.

With production targets in place and financing secured, Jubilee comes a close second.

The post Which AIM Star Should You Pick: Jubilee Platinum PLC, 88 Energy Ltd Or Xtract Resources PLC? appeared first on The Motley Fool UK.

Insurer edges skywards

Insurance giant Beazley (LSE: BEZ) has seen its shares move 1.7% higher in Thursday trading following the release of positive trading results for 2015.

The London firm advised that gross written premiums advanced 3% last year, to $2.08bn, a result that nudged pre-tax profit 8% higher to $284m. The company had a “benign claims environment” to thank for the solid performance, it said.

But looking ahead, chief executive Andrew Horton told Reuters that “the rating environment across catastrophe-exposed business, due to a lack of claims in 2015 and 2014, means that rates are going to continue to go down.” He added that “margins will be under pressure this year.”

With Beazley also suffering from intensifying competition, the City expects earnings to tank 13% in 2016, leaving the business dealing on a P/E rating of 15.1 times. This number is far from shocking, but considering that earnings risks continue to rise, I believe the insurer is an unappealing pick at the present time.

Copper play pleases investors

Copper digger Xtract Resources (LSE: XTR) has gone gangbusters in Thursday’s session following positive operating news — the stock was last dealing 7.5% higher from the prior close.

Xtract Resources advised that the processing plant at its Chepica gold and copper facility in Chile had been granted permission to restart on Friday. The plant has been down since late December following two fatalities at the site.

The mining play advised earlier this week that revenues slipped 16% between October and December from the prior quarter, to $375,802, although the impact of cost-saving measures propelled profits 39% higher to $208,269. Still, the bottom-line result missed expectations, and I reckon Xtract Resources should continue to be hit by falling ore grades and weak copper prices.

The number crunchers expect the Chilean digger to report earnings of 0.02p per share in 2016, resulting in an ultra-low P/E rating of 9 times. But given the poorly state of the copper market, I believe investors expecting sustained earnings rises could end up disappointed.

Stuck in a hole

Shares in embattled mining play Lonmin (LSE: LMI) have also exploded higher in Thursday trade due to a solid bump in metal prices.

Thanks to fresh US dollar weakness, platinum was recently at week-long peaks above $880 per ounce, while sister metal palladium burst back above the critical $500 marker. This renewed strength pushed Lonmin’s share price 15% higher from Thursday’s close.

However, I reckon this near-term strength represents nothing more than a fresh selling opportunity. Lonmin advised last week that it expects “a low pricing environment will persist in the short to medium term,” and subsequent restructuring has seen the business cut more than 5,000 jobs in the past quarter alone.

But as demand indicators continue to worsen, and wider economic conditions propel the dollar steadily higher in the coming weeks and months, I reckon Lonmin’s share price should resume its crushing downtrend.

The post Should You Pick Up Lonmin Plc, Beazley PLC & Xtract Resources PLC On Thursday? appeared first on The Motley Fool UK.

Good As Gold?

AIM-listed Xtract Resources (LSE: XTR) has seen its share price soar by 175% in the last year but don’t get too excited, that is from 0.08p to today’s 0.22p. Still, investors have made money from this penny stock and it could be a tempting prospect.

Xtract is a gold and copper exploration and development company that boasts two main prospects, the Chepica gold and copper mine in Chile and the O’Kiep and Carolusberg copper sulphide dump projects in South Africa. It has suffered setbacks at its Chipeca Gold Mine in Chile where the authorities suspended operations following two fatal accidents, although it hopes to be granted permission to restart next week. Last year it suffered mixed results in South Africa, where feasibility studies continue.

Xtract is pursuing a range of other prospects, including a joint-venture in Mozambique, which should give it some much-needed diversification. Forecasts suggest it will make profits of £2.5m this year, on revenues of £9.8m, which I certainly find tempting. Today you can buy it at nine times earnings. This stock could merit a bit more digging…

Petra Diamonds Forever

Diamond miner Petra Diamonds (LSE: PDL) has had a tougher year, its share price falling 54%, which is the kind of number you expect from miners these days. Its latest trading update showed the company beating production targets in the last six months of 2015, but unfortunately revenue fell 28% to US$154m and diamond sales fell 7% to 1,303,051 carats.

Chief executive Johan Dippenaar flagged up its expansion programmes, which remain on track to deliver the first significant input of undiluted ore in second half of this year, which should boost grades and product mix, while, its new plant at Cullinan is on track. City forecasts suggest a drop in profits from £85m to £57m in the year to 30 June and a forecast 14% drop in earnings per share, which takes some of the shine. Petra is reasonably prices at 10.8 times earnings and yielding 2.7% but it is hardly a diamond prospect right now.

Back Down To Earth

It has been a disappointing year for investors in Rare Earth Minerals (LSE: REM), whose share price is down 20% over the last year to 0.71p. The stock did get a boost last year following its deal to supply Tesla Motors with lithium hydroxide, albeit with stiff two-year performance milestones. Results from the Cinovec Lithium-Tin-Tungsten project, in which REM has a 12% equity interest, and the Sonora Lithium Project by Bacanora Minerals, 17.19% owned by REM, have been encouraging.

It is always an act of faith investing in fledgling miners, until the revenues start rolling in, even ones mining highly-valued metals as lithium. Demand from battery producers is expected to surge as renewable energy storage becomes a global issue, but investors will need strong nerves and bags of patience.

The post 3 Precious Investments: Xtract Resources PLC, Petra Diamonds Limited & Rare Earth Minerals PLC appeared first on The Motley Fool UK.

Two stocks that have shown an impressive immunity to the market’s manic depressive attitude however are Pantheon Resources (LSE: PANR) and Xtract Resources (LSE: XTR). Over the past year, while the FTSE 100 has slumped by 16%, Pantheon and Xtract have risen 434% and 157%, respectively. So do these resource minnows deserve a place in your portfolio? 

Bucking the trend 

It’s a tricky time to be in the oil business. The oil market is oversupplied and at $28 a barrel, most producers are unable to make a profit. That said, Pantheon seems to be bucking wider market trends. The company’s first oil well, VOBM#1 in East Texas, flow-tested at 1,500 barrels of oil equivalent per day and further testing shows that the well could exceed the pre-drill P50 prospective resource estimate of 1.4m barrels of oil equivalent. Unfortunately, the testing of Pantheon’s second onshore well, VOS#1 has been interrupted by a blockage, although initial testing showed that flow rates from VOS#1 were consistent with the well being able to provide a mid-estimate total recovery of 3m barrels of oil equivalent.

And unlike many other US onshore independent oil and gas producers, Pantheon’s costs are extremely low, which means that the company can continue to turn a profit even with oil prices below $30 a barrel. According to the company’s December corporate presentation, capital expenditure and operating expenditure for each well is expected to be less than $5 per barrel. Moreover, management believes that operating costs per barrel could fall as low as $1 to $2 in the long term. 

Safe haven 

Xtract has transformed itself into one of AIM’s most exciting small businesses over the past year. The group has acquired a number of mining assets over the past 24 months, all of which are low-cost and expected to yield a return for Xtract within three to four years. 

One such acquisition is the Fair Bride mine. The deal cost Xtract $12.5m, although it’s estimated that the project will pay for itself within three years. What’s more, initial figures indicate that the project will generate a net cumulative cash flow of $82.4m. Another deal is the joint venture agreement with Mineral Technologies International Limited, which management expects will pay for itself in less than six months. Construction for the joint venture is expected to commence during the third quarter of 2016. 

City analysts expect Xtract to report a pre-tax profit of £2.9m for full-year 2016, the company’s first profit in more than five years. On a per share basis, forecasts suggest Xtract could earn 0.02p this year, which implies that the company’s shares are trading at a forward P/E of 9. If everything goes to plan and Xtract meets City forecasts, the company could be a great long-term investment for your portfolio. 

The post Can Pantheon Resources Plc And Xtract Resources PLC Save Your Portfolio From A Bear? appeared first on The Motley Fool UK.

Nonetheless, there are some bargains on AIM that could yield lucrative returns for investors, although singling out these opportunities is tough. W Resources (LSE: WRES), Xtract Resources (LSE: XTR) and Victoria Oil & Gas (LSE: VOG) all look as if they have bright futures, but if you had to pick just one, which should you choose? 

W Resources is a tungsten production, exploration and development company that owns four mines in Spain and Portugal, two of which are being fast-tracked to begin production within the next two years. W Resources is targeting production from the La Parrilla Mine in Spain during 2016, and production from the Régua mine in Portugal during 2017. The company received development approval for its La Parrilla mine earlier this week, so management is confident of hitting the target for initial production next year. When in production, La Parrilla and Régua are expected to have some of the lowest production costs for tungsten in the world. Furthermore, W Resources is targeting revenue of $90m per annum by 2018. 

Xtract Resources has the potential to become one of the world’s premier small-cap gold producers. The company has made staggering progress over the past year improving its prospects, and during September the company acquired the Fair Bride gold project, jacking up Xtract’s resource base to over 1m ounces of gold. However, Xtract’s key advantage is the fact that the company’s cost of production is around $650 per ounce of gold, making it one of the world’s lowest cost gold producers. Gold production is expected to double over the next year and the company recently received a boost from its Chepica Gold and Copper Mine in Chile, which reported revenue growth of 153% to $448k and profit growth of 186% to $150k for the third quarter. 

Victoria Oil & Gas has made solid progress on its strategic goals this year. The company’s gas sales nearly tripled year-on-year over the nine months to the end of September, and gas production doubled during the third quarter. Also, Victoria is planning more drilling activity during 2016, which should see gas production and sales increase further. During the third quarter, group gas production reached an all-time high of 15.2m standard cubic feet per day. And Victoria is cash-rich, which is rare for such a small player in the world of oil and gas. At the end of the third quarter the company had $12.8m of cash, down from $14.2m as reported at the end of the second quarter, but the company reduced debt by $2.4m during the period. In other words, cash generated for the three months to the end of September was around $1m. 

Overall, as Victoria is the only company in this piece that’s cash-rich and generating cash, it looks as if Victoria is the AIM champion that should take a place in your portfolio. 

The post Which AIM Champion Deserves A Place In Your Portfolio? W Resources PLC, Xtract Resources PLC Or Victoria Oil & Gas plc? appeared first on The Motley Fool UK.

Xtract’s second positive piece of news was the announcement that the company has signed a joint venture agreement with Mineral Technologies International Limited, to mine alluvial gold on the Manica gold project.

Xtract expects the joint venture to produce approximately 32,000oz gold per annum, (16,000oz net to Xtract), and Mineral Technologies will cover the cost of the construction of an alluvial gold plant. When in operation, it’s estimated that the Manica gold project joint venture’s payback period will be less than six months. Construction is expected to commence during the third quarter of 2016. 

These two positive news releases only boost the investment case for Xtract. The company has made staggering progress over the past year improving its prospects and last month the group acquired the Fair Bride gold project, jacking up Xtract’s resource base to over 1m ounces of gold. 

Now could be the time to buy Xtract as the company’s mining projects get off the ground. 

Struggling with costs 

Unfortunately, as Xtract powers ahead Nighthawk Energy (LSE: HAWK) is struggling. 

Nighthawk announced today that the company is implementing a number of margin enhancement and operational efficiency measures to reduce group costs as the low oil price eats into profitability. A management shake-up has seen Nighthawk’s CFO leave, to be replaced by Mr. Kurtis Hooley, who will take up the roles of both CFO and company secretary. 

Nighthawk reported an operating loss of $5.2m for the six months to June 2015, compared to a profit of $11m in the same period last year. Moreover, the company seems to be running out of cash. Nighthawk was forced to issue a $10m zero coupon unsecured convertible loan note at the end of August to bolster its balance sheet. But as the company burnt through $7.4m during the first-half, this cash won’t last long.  

Even with the cost savings announced today, it looks as if Nighthawk is going to struggle going forward.

Cutting guidance 

Genel Energy (LSE: GENL) is another oil producer that’s struggling with the low oil price. The company announced this morning that it was reducing production guidance for 2015 to a range between 85,000 and 90,000 barrels of oil per day, from 90,000 to 100,000 bopd. 

Genel went on to say that reduced production guidance would mean a lower revenue figure for the year. It cut its revenue guidance to a range between $350m and $375m, down from $350m to $400m, based on a crude price of $50 a barrel. 

However, Genel has now reached a turning point with the Kurdistan Regional Government as the flow of oil payments from the KRG has improved. Management is confident that the KRG will continue to return owed cash to producers, removing much of the uncertainty that’s surrounded Genel for the past few years. Group net debt at the end of September was $211m. Genel currently trades at a forward P/E of 26.6. 

The post Is Now The Time To Buy Xtract Resources PLC, Nighthawk Energy Plc And Genel Energy PLC? appeared first on The Motley Fool UK.

High-quality assets

Firstly, Gulf Keystone, Falkland and Xtract all have high-quality assets that will help drive their growth over time. For example, Gulf Keystone’s investors received a huge confidence boost last week, when the company announced that estimates for proven reserves at the company’s flagship Shaikan field have been upped by 55% since March last year to 306m barrels gross. The proven and probable reserves figure was increased from 299m to 639m barrels gross. 

What’s more, Gulf Keystone’s production costs are some of the lowest in the industry. Last year the company stated that trucking Shaikan crude to the Turkish coast, storing and loading it costs circa $23 per barrel. 

Falkland isn’t producing any oil yet, but the company’s prospects in the Falkland Basins have plenty of potential. Falkland’s 18% share of the Sea Lion complex totals around 102m barrels of oil. It’s believed that the Sea Lion prospect, owned by Falkland’s regional partner Rockhopper ,will be producing an estimated 60,000 barrels of oil per day within five years. Recent discoveries indicate that Falkland could be set to benefit from similar growth. 

Xtract’s Fair Bride acquisition has revolutionised the company’s prospects. The deal has cost the company $12.5m, although it’s estimated that the project will pay for itself within three years. What’s more, initial figures indicate that the project will generate a net cumulative cash flow of $82.4m. During the past six months, Xtract’s resource base has increased by 3,233% from 30,000 ounces of gold to over 1m ounces. 

Touching the lows

As the saying goes, “the time to buy is when there’s blood in the streets.” Gulf Keystone, Falkland and Xtract are all currently trading at four-month lows, as investors have turned their backs on the companies amid market turmoil.

This presents an opportunity for the thick-skinned investor who is willing to take on the risk. 

Risk/Reward

All of these companies offer attractive risk/reward profiles. If everything goes to plan, their shares could double, triple or quadruple from present levels. 

Xtract’s shares have already doubled since the beginning of February and Falkland could return to its all-time high when the company finally starts producing oil. This indicates a gain of more than 1,000% from present levels. 

Your own risk profile

The decision of whether to buy Falkland, Xtract and Gulf Keystone should be based on your own risk profile.

These companies certainly aren’t for widows and orphans, and if you’re concerned about taking a total loss, it might be time to get out. However, if you’re willing to take on the risk, for the prospect of huge gains, now could be the time to buy.

And if you do decide to buy, the best strategy would be to use a basket approach.

The post 3 Resasons To Buy Gulf Keystone Petroleum Limited, Falkland Oil and Gas Limited And Xtract Resources PLC appeared first on The Motley Fool UK.

A seismic sell-off

Shares in copper miner Xtract Resources (LSE: XTR) have taken an absolute pasting in Tuesday trading following the publication of a worrisome half yearly report, and the business was last dealing 20% lower on the day. The company announced that recent earthquake activity rendered the main access haulage at its Chepica asset unsafe. Consequently the main mining area will be inaccessible for three months, as Xtract develops a new haulage system that will access the ore body from a different position.

The mining industry is naturally fraught with dangers, particularly those that operate in the quake hotspot of Chile, while one-off problems and grade disappointments can also lead to hefty share price movement, as Xtract has found to its peril. The business has performed well in recent times, and narrowed its pre-tax loss to £800,000 during January-June from £1m a year earlier. But with a tanking copper price also adding to Xtract’s problems, I believe the share is a risk too far at present.

Source a fortune

The market greeted latest results from outsourcing colossus Mitie Group (LSE: MTO) with greater fanfare, however, and the stock was recently 3% higher in Tuesday’s session. The Bristol business advised that it had enjoyed “a good start to the year with good organic revenue growth driven by new and recently expanded contracts,” and said that it had inked a flurry of fresh contracts with FTSE glitterati such as Rolls-Royce, Vodafone and Sky.

 With the company also securing a swathe of contracts from new clients, Mitie has now secured 94% of budgeted revenues for the year ending March 2015. And the City seems convinced this positive momentum is set to continue — growth of 1% for the current period is expected to accelerate to 7% for 2017. Consequently Mitie deals on ultra-attractive P/E multiples of just 11.3 times and 10.6 times for 2016 and 2017 respectively.

Tux trade on the charge

Tailoring experts Moss Bros (LSE: MOSB) also cheered investors with its latest release, driving the stock 6% higher around midday. The ‘suiter-and’booter’ announced that pre-tax profits had surged 44% during February-July, to £2.8m, driven by a like-for-like sales improvement of 9.7%. The retailer has invested heavily in its online presence in recent times, a factor that helped to drive internet trade 59% higher in the period.

With its extensive store modernisation programme also driving demand for its fashion lines, Moss Bros is expected to clock up earnings expansion of 7% for the 12 months to January 2016, resulting in a slightly-elevated P/E of 20.7 times. But this figure drops to just 17.7 times for 2017 amid forecasts of a 17% bottom-line bounce. I believe this is a great price for a Moss Bros and its terrific growth prospects.

Fly high with FTSE carrier

Budget airline Wizz Air Holdings (LSE: WIZZ) has also enjoyed a flip higher thanks to solid summer business, and its share price was recently 2.9% higher from Monday’s close. The flyer — which specialises on travel across Central and Eastern Europe destinations — commented that “the strong [first half] financial performance, combined with robust bookings for the third quarter, are encouraging,” and consequently upgraded its net profit forecasts for the full-year.

The bottom line is now expected to register at between €190m and €200m for the year ending January 2016, up from July’s prediction of between €175m and €185m. With Wizz Air steadily expanding its network, not to mention reaping the benefits of subdued fuel costs, the City expects earnings to keep on surging. And subsequent P/E multiples of 17.1 times for 2016 and 15.2 times for 2017 make Wizz Air a brilliantly-priced growth pick, in my opinion.

The post Should You Buy Xtract Resources PLC, Mitie Group PLC, Moss Bros plc And Wizz Air Holdings PLC Following Today’s Updates? appeared first on The Motley Fool UK.