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Update on Argent Industrial

March 4, 2024
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Anthony Clark
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Anthony Clark

Since March 2019 at 352c I've had a buy on Argent. Today its 1484c & I provide an update opinion

Miro cap Argent Industrial with a market capitalisation of R833m has been one of the top performing stocks in the sector for the past three years that pretty much every institutional investor has missed

Much has to do with its history and a mis-understanding of the changes that were instigated at Argent in 2018/19 which I spotted that changed the very nature of the stock, its profile, its outlook, its risk metric and more importantly its ability to deliver superior earnings growth

I anticipate yet another good year ahead for Argent in Fy2023 and on a PE of 3.5x, cash in the bank (mostly offshore) a growing Rand hedge base, on-going share buy-backs and a dividend play.it's a stock worth looking at despite quite a lot of the easy money having been made

With a share price of R14.88 and a Net Asset Value of R24.38 it remains one of my top sector micro cap counters

My recent report is in the Gdrive link below

https://drive.google.com/file/d/1y6JRdgvQGKXXWDSjeNaRqKQ76qDwFn4D/view?usp=share_link

 

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