September 21st, 2021 | 11:29 CEST
Aztec Minerals, ThyssenKrupp, TeamViewer - Buy prices?
Table of contents:
"[...] Internally we expect the resource to significantly grow the deeper we mine. [...]" Dennis Karp, Executive Chairman, Manuka Resources
Aztec Minerals - Further successes reported
The Vancouver-based company is committed to discovering large, polymetallic mineral deposits in the Americas. The Canadians' core asset is the Cervantes project in Sonora, Mexico, which is operated as a joint venture with Kootenay Silver Inc, in which Aztec holds a 65% majority interest. The completed first phase of the drill program returned good results and additional gold-copper-molybdenum soil and rock geochemical anomalies. Grades of up to 21.3 g/t gold were measured in various rock chip samples. To further exploit the project's potential, the Company plans to start a 5,000m drill program in Q4.
Now the Canadians also reported good news regarding the Tombstone joint venture project. Results from four holes show near-surface gold-silver mineralization. Hole TR21-17 had the best results with 2.53 g/t gold equivalent over a length of 64m, followed by TR21-18 with 1.05 g/t gold equivalent over 64m, TR21-16 with 1.04 g/t gold equivalent over 64m and TR21-15 with 0.49 g/t gold equivalent over 42.7m. Located in southeastern Arizona, the property is in the historic Tombstone Silver Mining District and is 75% owned by Aztec Minerals.
The stock market has also stubbornly ignored the latest good company news. Within the last 12 months, the stock has nearly halved in value, which is incomprehensible given the project's progress. A company valuation of only CAD 17 million does not make the Company appear overvalued by any means.
THYSSENKRUPP AG - Under pressure
On the German stock market, steel stocks such as ThyssenKrupp, Salzgitter and Klöckner & Co recently came under pressure and were among the biggest losers in the MDAX and SDAX. Several reasons for the share price decline can be identified: falling metal prices, a strong US dollar and the scenario of the Evergrande crisis spreading to the construction sector, which in turn is a major consumer of steel and industrial metals.
It should not be forgotten that steel prices have risen significantly in recent months. While Europe's largest steel company ArcelorMittal reported its best quarter since 2008, the German steel giant disappointed with its Q3 figures published in August. Although the Company returned to profitability, stockbrokers were unhappy with the cash flow forecast. However, it should be borne in mind that rising steel prices have a greater time lag at ThyssenKrupp than at competitors due to long-term supply contracts.
In the meantime, share prices have already reached around EUR 12 this year. This played the hydrogen card and a step forward in the Group's restructuring. The entry into the construction of large-scale electrolyzers for hydrogen production, the establishment of hydrogen supply chains and green steel production gave the stock new momentum. Currently, the market is ignoring this facet of the equity story. In addition, the Group is very likely to have record quarters ahead, as higher steel prices will only be reflected in supply contracts with a time lag. We think these are two good reasons to put the stock on the watch list.
TEAMVIEWER AG - Nearly all share price gains since the 2019 IPO evaporated
The Company was one of the Corona winners with its remote computer and machine maintenance software and video conferencing applications. The software is cloud-based and has been activated on more than two billion devices. But for the past 12 months, the stock price has known only one direction: south. A year ago, the stock stood at EUR 42. Now, the shares are trading just above the 2019 IPO price of EUR 26.25.
Resentment and a lack of understanding about costly sponsorship contracts for the Premier League and Formula 1, among others, hurt the Company's performance. In particular, the contract with Manchester United was considered far too expensive. The recent signing of Cristiano Ronaldo has somewhat quietened the critical voices.
Strategically, the Company is moving into a forward-looking area and pushing growth in augmented reality. In the past, the Company had already acquired the German Ubimax and the US companies Upskill and Viscopic. In the summer, the Company entered into a strategic partnership with SAP. The TeamViewer solutions will be integrated into SAP's offering. The first application of the augmented reality software is to support maintenance and repair processes for SAP customers in mechanical engineering and component manufacturing.
Every crisis offers opportunities. With the three stocks presented, investors can lie in wait. ThyssenKrupp's potential is currently being misjudged. TeamViewer does not earn a dime and yet is valued at EUR 5.6 billion. We remain on the sidelines here. Aztec Minerals has the most exciting investment story: very good projects, results and prospects at a moderate company valuation.
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