November 23rd, 2023 | 07:10 CET
Significant events at TeamViewer, Power Nickel and Nordex
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"[...] Nickel, therefore, benefits twice: firstly from its growing importance within batteries and secondly from the generally growing demand for such storage. [...]" Terry Lynch, CEO, Power Nickel
Power Nickel - Downward trend broken
The management of the junior exploration company Power Nickel is currently stepping on the gas pedal with its main project, Nisk, in which the Company currently holds 50% but can increase this to 80% through an option agreement. The final remaining condition to exercise these voting rights is the submission of a NI 43-101 technical report, which is expected to occur in the fourth quarter of 2023. The property covers 20 km of strike length and is located near Nemaska, in Quebec, Canada.
Power Nickel is focused on expanding the historic high-grade nickel-copper-platinum group metal mineralization with a series of drill programs aimed at testing the original Nisk Discovery Zone and exploring the property for adjacent potential nickel deposits.
In collaboration with one of the global leaders in nickel materials manufacturing and a major supplier to the battery, defense and aerospace industries, CVMR, Power Nickel is working to finalize the next phase of the feasibility study. To date, CVMR has had technical success in laboratory tests concerning the quality of mineralization. Power Nickel is currently awaiting review of the final benchmarking report. In order to initiate further processes, the Canadians were able to form a consortium with the WCPD Group, which is making an initial investment of CAD 2.75 million in the Company.
To minimize dilution of existing shareholders, investors subscribed to a total of 3,055,556 flow-through shares at a price of CAD 0.90 per share. WCPD is a leading exempt market dealer providing efficient financing to the Canadian resource and mineral exploration industry. As part of the process, CVMR will acquire these shares from the front-end purchasers at a price of CAD 0.45 per share.
With the announcement of the capital measure, the Power Nickel share was able to break out of its downward trend established since February 2023 with a significant price jump of over 13% to CAD 0.27. The next minor resistance level is CAD 0.28. If, as stated by CEO Terry Lynch, positive results follow concerning the current fall campaign, the next target is likely to be the yearly high at CAD 0.355.
TeamViewer AG - Permira makes a killing
The TeamViewer share started trading with a substantial downward gap after the publication of the sale of further shares by major shareholder Permira. By breaking the vertical support area at EUR 13.52, the share also marked a new nine-month low. The next price target from a technical perspective is the open price gap from February 2023 at EUR 12.41.
The London-based global investment company sold 13 million TeamViewer shares, reducing its stake from just under 21% to 14%. The shares were offered at a price of EUR 13.90, bringing a further EUR 180 million into the financial investor's coffers. So far, Permira has raised EUR 5.4 billion since the IPO in the fall. The British company had only invested around EUR 870 million in 2014.
TeamViewer's remote software was particularly in demand during the coronavirus pandemic due to the closed offices caused by the lockdowns. As a result, the Göppingen-based company's share price shot up to an all-time high of EUR 54.86 in July 2020. Due to declines in business operations and high sponsorship agreements, such as with Manchester United, which severely eroded profitability, the share price corrected to an all-time low of EUR 7.66 in October 2022. Since then, the share has recovered by around 100% but is still in an overarching downward trend.
Nordex SE - New order and optimistic analysts
It has been quiet for a long time with regard to new acquisitions at the Hamburg-based wind turbine manufacturer. The Nordex Group has now secured an order for 56 MW in Croatia. The largest wind farm developer and operator in the country, ENCRO, and Adris Grupa, a leading independent investment company, have ordered eight N163/6.X turbines for the "Visoka" wind farm. The contract also includes a 30-year service contract.
Delivery of the turbines and installation of the plant near the city of Split is scheduled for the third quarter of next year. Commissioning is scheduled for the end of 2024. The turbines are to be installed on tubular steel towers with a hub height of 113 meters.
Various analyst firms are optimistic about Nordex's performance in their latest studies. Jefferies, for example, continues to see Nordex as a Buy candidate with a target price of EUR 17. On the other hand, the analysts at Deutsche Bank lowered their price target from EUR 17 to EUR 16 but continue to recommend the Nordex share as a Buy.
The sale of shares by major shareholder Permira put the TeamViewer share under significant pressure. Power Nickel has great potential and is advancing its feasibility study. Meanwhile, wind turbine manufacturer Nordex secured a further order in Croatia.
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