Cineworld Group (CINE)
shares see light relief and tick up 11.03% to 64.8p
The stock saw light relief today after dropping as low as 56p this week. Despite the UK relaxing most of its lockdown restrictions, and despite cinema stocks seeing some relief last Friday, rising COVID-19 cases have cast further scepticism about the future of the industry.
Recently, entertainment stocks, particularly cinemas, have felt the pressure as subscriber numbers for online streaming platforms such as Netflix and Amazon have only increased.
According to Bloomberg, cinemas have failed to receive the boost it needed after Walt Disney Co.’s new movie “Black Widow” was almost as popular online as it was at the cinema.
Oriole Resources (ORR) shares soar 21.05% to 0.575p amid progress in Colombia
In recent weeks, the South American-focused gold exploration and development company reported positive progress at its Colombian drilling programme at the Anzá project.
The Company said it had received assay results for nine additional diamond drillholes which have demonstrated multiple high-grade gold intersections with associated silver and zinc.
The primary objective of its exploration program is to determine the potential of the Anzá land package to host a large gold mineralisation system. Once targets have been finalised in the coming weeks, the required logistical work will start to open up these areas for drilling.
System1 Group (SYS1) shares jumped 14.39% to 310p after analysts raise target price
In its results for the year to 31 March 2021 released last week, System1 saw a 46% increase in pre-tax profit to £3m for the year with statutory profit before tax up 601% to £2.1m, despite seeing revenue during the year fall 11% to £22.8m from £25.5m in the prior year.
"As System1 returns to its pre-pandemic level of revenue, we do so in a position of relative strength. Cash balances and cash flow are healthy, and we will continue to invest in our products, data assets and talent,” said Founder and Executive President John Kearon.
Looking ahead, System1 said it plans to remain profitable and to continue to generate cash in the 2021/22 financial year, as it prioritises scaling its automated prediction products.
Analysts at Canaccord Genuity raised their target price on System1 Group from 300.0p to 370.0p last Wednesday morning after the group’s results came in ahead of expectations.
H&T Group (HAT) shares rose 10.65% to 268.5p as it hails good trading momentum
The Company said on Wednesday, ahead of its interim results, that it has experienced good momentum since coronavirus-related trading restrictions were relaxed back in April 2021.
H&T Group told shareholders that it will publish its half-year results for the six months to 30th June 2021 on Monday 9th August along with an update in respect of current trading.
Network International Holdings (NETW) shares fell 2.09% to 360.25p
Earlier this month, the Middle East and Africa-focused payments technology company reported that it was making “good progress” towards closing its acquisition of DPO Group.
Network told investors that it has been engaging with regulators in the two countries where approvals remain outstanding with the pace and nature of progress in recent weeks having been ‘reassuring’. As a result, the Company expects completion during the third quarter.