Share tips and stock recommendations for the Australian (ASX) share market – buy, hold, and sell. Michael Gable is an expert guest commentator for the stock market newsletter thebull.com.au.
This post is an extract from the newsletter dated 20 May 2024. You can access the full version of the article HERE.
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Buy Recommendations
ASX:BMN
BMN is developing one of the largest undeveloped uranium assets in the world. I remain bullish on the prospect for uranium prices. BMN offers plenty of scale and is one of the most leveraged stocks to increasing prices.
ASX:RSG
I remain bullish on gold and this African based producer has great leverage to an increasing gold price. The share price charts also show that the stock is on the precipice of an upside break out which could see it rally hard towards 80c.
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Hold Recommendations
ASX:MQG
Macquarie stands to benefit from an improving global economy. Their recent full year result came in slightly under expectations, but the positive market reaction showed that this was already priced in and the stock is getting back into an uptrend.
ASX:WTC
Wisetech continues to dominate the logistics sector and grow its earnings strongly year on year. The recent pullback in share markets only resulted in a shallow decline for WTC shares, which is a sign of underlying strength and they are now continuing to trend higher again.
Sell Recommendations
ASX:COL
Defensive stocks like COL became fairly expensive in the past couple of years, but we expect that premium to unwind as investors chase better returns elsewhere. With food inflation retreating, COL will also find it harder to increase their margins.
ASX:QBE
We believe that insurers have reached a peak where they were able to charge higher premiums, but that will only become more difficult from here as inflation eases and competition increases. Insurance stocks are also very volatile due to the uncertain nature of natural disasters.