Upside for Imdex not in sight
- {{x.value}}
{{ twilioFailed ? 'SMS Code Failed to Send…' : 'Enter verification code' }}
{{ completedStep1 ? 'Authentication & Security' : content.trialHeading.replace('{0}', user.FirstName) }}
{{ content.upgradeHeading.replace('{0}', user.FirstName) }}
The email address you entered is registered with InvestSMART
Please login to continue
We have sent you an email with the details of your registration.
Looks you are already a member. Please enter your password to proceed
{{ upgradeCTAText }}
Updating information
Please wait ...
Your membership to InvestSMART Group recently failed to renew.
Please make sure your payment details are up to date to continue your membership.
Having trouble renewing?
Please contact Member Services on support@investsmart.com.au or 1300 880 160
You've recently updated your payment details.
It may take a few minutes to update your subscription details, during this time you will not be able to view locked content.
If you are still having trouble viewing content after 10 minutes, try logging out of your account and logging back in.
Still having trouble viewing content?
Please contact Member Services on support@investsmart.com.au or 1300 880 160
Please click on the ACTIVATE button to activate your Intelligent Investor 15-day free trial
Please click on the ACTIVATE button to finalise your membership
Unsuccessful registration
Registration for this event is available only to Eureka Report members. View our membership page for more information.
Registration for this event is available only to Intelligent Investor members. View our membership page for more information.
- You are already registered for this event.
- This event is already full.
- Please select a quantity for at least one ticket.
- {{ i }}
Forgotten password
Please enter your email address below to request a new password
- Verify your email address by clicking on the link we sent to {{user.Email}}
- You now have free access, we look forward to helping you on your financial journey.
The rebound in confidence towards mining engineers seems to be eluding drilling services firm Imdex (IMD).
While the stock may have bounced around 37% to around 85 cents since the market bottomed in late June, analysts still have reservations about the outlook of the company as demand for its products and services may not have bottomed.
Hartleys is the latest to cast some doubts on whether conditions are set to improve for Imdex in its latest note. The broker is only assuming an earnings recovery in 2014-15 and is forecasting volumes to be down by around 50% from the peak.
Management is trying to offset the gloom in the minerals division by aggressively expanding into servicing the oil & gas industry. This means we will see revenue from oil & gas projects start to become a material component of overall sales.
However, Hartleys wants to be conservative and is basing its estimates more on the demand outlook for minerals.
“We like the business and management, but the negative earnings momentum is vicious,” it wrote in the note.
Hartleys has a “neutral” recommendation on the stock with a 12-month price target of 81 cents.
Imdex is part of the Uncapped 100.
Call 1300 880 160
Start a chat
Schedule a call
