Winners and Losers: NeuRizer rises amid weak Australian market
The top Australian shares were down last week as retail data came in weaker than expected while inflation rose above what economists had predicted, but NeuRizer stood out from the crowd.
Adelaide urea fertiliser company NeuRizer saw its share price double over the last five days of trading, after the prior week’s substantial shareholder sell down.
Shares in the company – currently under investigation by ASIC over allegations of ‘greenwashing’ – went from $0.002 to $0.004, but remain down by 92.16 per cent on a year-on-year basis.
Most of the shares in NeuRizer were traded on Friday, when 26.4 million shares changed hands.
Vintage Energy was another Winner after noting on Tuesday that a gas appraisal well, which it owns 50 per cent of, recorded gas in multiple formations.
Operator Metgasco – a 25 per cent owner of Odin-2 – will update the market on the significance of the findings.
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“I am pleased to report that the Odin-2 well has progressed safely and efficiently to date and has encountered gas shows in multiple formations, the significance of which will be determined by the electric logs operations we are preparing to commence,” Metgasco managing director Ken Aitken said.
Centrex, Jade Gas Holdings and Elixir Energy rounded out the week’s Winners, with no major news to note.
It follows a week defined by less-than-promising data out of the Australian Bureau of Statistics.
Retail sales were down for April, and inflation data was higher than economists were anticipating.
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Australian shares fell as a result, with the S&P/ASX 200 down 0.42 per cent over the five days, with the drop most pronounced on Wednesday when the inflation data was released.
There was very little news from the week’s Losers, of which LBT Innovations topped the list after its shares fell 26.32 per cent.
Woomera Mining landed in the Losers list with a 25 per cent weekly decline. The company is also down nearly 77 per cent on a 12-month basis.
Mighty Kingdom also slid by 20 per cent, as did PNX Metals. Iron Road rounded out the Losers list.
The full list of Winners and Losers:
Data compiled by Baker Young Limited analysts.
