Broker Notes, Comments and Analysis

Broker notes, analysis and comments

Record’s Inflows Reinforce Confidence in Growth Pipeline

Record’s latest update shows resilient inflows, stable earnings expectations and continued relevance for institutional clients managing currency risk...

Cora Gold Funding Deal Takes Sanankoro to Fully Funded Status, Says Hannam & Partners

Cora Gold secures major Sanankoro funding milestone as Hannam & Partners raises its target valuation to 27p per share...

Likewise Q1 2026 Trading Update Shows Strong Sales Momentum, Zeus

Likewise delivered strong Q1 2026 sales growth, with Zeus highlighting market share gains, logistics investment and capacity for further expansion...

Norcros plc reports good progress as FY26 matches expectations, Equity Development

Excerpt, Norcros plc delivered FY26 in line with expectations, with steady revenues, solid profit performance and encouraging strategic progress, says Equity Development...

Primary Health Properties 7.6% yield backed by “Accretive Earnings”, says Shore Capital (LON: PHP)

Primary Health Properties remains in focus after Shore Capital highlighted accretive earnings, rental growth momentum and an attractive yield outlook...

Ilika Collaboration with Brompton Bicycles Signals Commercial Progress, Cavendish

Ilika advances solid-state battery adoption through Brompton partnership, with Cavendish highlighting commercial potential and safety advantages in growing e-bike market...

Chesnara Plc: Showing good operational progress

Chesnara’s 2025 results showed higher operating capital generation, stronger cash generation and an improved balance sheet under its new reporting metrics. With acquisitions progressing and the dividend rising 6%, the..

Meren Energy low risk ‘Buy’ with multiple growth levers, says Arctic research

Meren Energy remains backed by Arctic Securities, with Nigeria drilling, Namibia Venus progress and a Buy rating supporting the outlook...

KEFI nears funding line as Tulu Kapi moves into delivery phase

KEFI Gold and Copper has brought Tulu Kapi close to full funding after completing two equity raises and securing shareholder approval, shifting the investment case towards execution, timing and delivery..

Afentra opportunity opens up as drilling accelerates, Cavendish

Afentra gains momentum as Cavendish highlights funded Angola drilling, potential production growth and a 107p target price in latest note...

Fidelity Special Values finds fresh value in UK small and mid-caps: New Research

Kepler Trust Intelligence says Fidelity Special Values continues to show strong long-term performance, with the trust outperforming the FTSE All-Share over five years...

Sintana Energy backed by growing Mopane resource, says Cavendish

Sintana Energy gains fresh attention as Cavendish highlights Mopane resource growth, Uruguay momentum and multiple catalysts that could shape 2026...

Pharos Energy looks to build on Vietnam and Egypt momentum, Shore Capital

The latest research note from Shore Capital presents a constructive view on Pharos Energy (LON:PHAR), highlighting a business that still has meaningful scope to generate cash flow from its existing..

Arbuthnot Banking Group Plc: 2025 lower margins, 2026 profit stability

Hardman & Co highlights that Arbuthnot Banking Group delivered strong growth in deposits, funds under management and specialist lending in 2025, despite a 31% fall in pre-tax profit driven by..

Volta Finance: Credit resilience from CLO structure and manager

Volta Finance’s exposure to recent pressure in the loan market appears limited, supported by CLO structural protections, disciplined manager selection and portfolio construction. The shares also trade at a discount..

KEFI Gold and Copper funding milestone brings Tulu Kapi into sharper focus, SP Angel

KEFI Gold and Copper secures Tulu Kapi funding, with SP Angel highlighting stronger development visibility, robust project economics and 2028 production targets...

Pharos Energy looks well placed for 2026, says Auctus Advisors

Pharos Energy enters 2026 with steady guidance, higher dividends, active Vietnam drilling and visible valuation upside, according to Auctus...

Quadrise keeps key trial programmes moving as partners stay engaged, Shore Capital

Quadrise advances MSC, Cargill and OCP trial plans as Shore Capital highlights steady progress, partner commitment and a £4.0 million cash balance...

Criterium Energy Sees Reserve Growth and Nearer-term Gas Momentum, Research Capital Corporation

Criterium Energy Ltd. (TSX:CEQ) looks to be entering an important new phase, according to the latest research note from Research Capital Corporation, which maintained its Speculative Buy rating and C$0.20..

Ruffer Investment Company’s strong performance highlighted in latest research

Strong returns across varied market conditions, with effective downside protection supporting consistent outcomes...
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Broker Notes, Comments and Analysis

Record’s Inflows Reinforce Confidence in Growth Pipeline

Record’s latest update shows resilient inflows, stable earnings expectations and continued relevance for institutional clients managing currency risk...

Cora Gold Funding Deal Takes Sanankoro to Fully Funded Status, Says Hannam & Partners

Cora Gold secures major Sanankoro funding milestone as Hannam & Partners raises its target valuation to 27p per share...

Likewise Q1 2026 Trading Update Shows Strong Sales Momentum, Zeus

Likewise delivered strong Q1 2026 sales growth, with Zeus highlighting market share gains, logistics investment and capacity for further expansion...

Norcros plc reports good progress as FY26 matches expectations, Equity Development

Excerpt, Norcros plc delivered FY26 in line with expectations, with steady revenues, solid profit performance and encouraging strategic progress, says Equity Development...

Primary Health Properties 7.6% yield backed by “Accretive Earnings”, says Shore Capital (LON: PHP)

Primary Health Properties remains in focus after Shore Capital highlighted accretive earnings, rental growth momentum and an attractive yield outlook...

Ilika Collaboration with Brompton Bicycles Signals Commercial Progress, Cavendish

Ilika advances solid-state battery adoption through Brompton partnership, with Cavendish highlighting commercial potential and safety advantages in growing e-bike market...

Chesnara Plc: Showing good operational progress

Chesnara’s 2025 results showed higher operating capital generation, stronger cash generation and an improved balance sheet under its new reporting metrics. With acquisitions progressing and the dividend rising 6%, the shares offer an 8.0% prospective yield that appears attractive relative to asset value...

Meren Energy low risk ‘Buy’ with multiple growth levers, says Arctic research

Meren Energy remains backed by Arctic Securities, with Nigeria drilling, Namibia Venus progress and a Buy rating supporting the outlook...

KEFI nears funding line as Tulu Kapi moves into delivery phase

KEFI Gold and Copper has brought Tulu Kapi close to full funding after completing two equity raises and securing shareholder approval, shifting the investment case towards execution, timing and delivery as the Ethiopian gold project moves further into development...

Afentra opportunity opens up as drilling accelerates, Cavendish

Afentra gains momentum as Cavendish highlights funded Angola drilling, potential production growth and a 107p target price in latest note...

Fidelity Special Values finds fresh value in UK small and mid-caps: New Research

Kepler Trust Intelligence says Fidelity Special Values continues to show strong long-term performance, with the trust outperforming the FTSE All-Share over five years...

Sintana Energy backed by growing Mopane resource, says Cavendish

Sintana Energy gains fresh attention as Cavendish highlights Mopane resource growth, Uruguay momentum and multiple catalysts that could shape 2026...

Arbuthnot Banking Group Plc: 2025 lower margins, 2026 profit stability

Hardman & Co highlights that Arbuthnot Banking Group delivered strong growth in deposits, funds under management and specialist lending in 2025, despite a 31% fall in pre-tax profit driven by lower margins and softer one-off activity. The group remains well capitalised, conservatively managed and priced at a steep discount to book value...

Volta Finance: Credit resilience from CLO structure and manager

Volta Finance’s exposure to recent pressure in the loan market appears limited, supported by CLO structural protections, disciplined manager selection and portfolio construction. The shares also trade at a discount to NAV, with an 8% of NAV dividend target...

KEFI Gold and Copper funding milestone brings Tulu Kapi into sharper focus, SP Angel

KEFI Gold and Copper secures Tulu Kapi funding, with SP Angel highlighting stronger development visibility, robust project economics and 2028 production targets...

Pharos Energy looks well placed for 2026, says Auctus Advisors

Pharos Energy enters 2026 with steady guidance, higher dividends, active Vietnam drilling and visible valuation upside, according to Auctus...

Quadrise keeps key trial programmes moving as partners stay engaged, Shore Capital

Quadrise advances MSC, Cargill and OCP trial plans as Shore Capital highlights steady progress, partner commitment and a £4.0 million cash balance...

Ruffer Investment Company’s strong performance highlighted in latest research

Strong returns across varied market conditions, with effective downside protection supporting consistent outcomes...
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Broker Notes, Comments and Analysis

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