Sell Shovels: Why a Gold Rush Beckons for ASX 200 Mining Contractor Perenti
Per!enti's return to the ASX 200 caps four years of strong outperformance, with the mining services provider insisting it can continue to grow.
The common refrain is: in a gold rush,
sell shovels. If that's the case, then there are few sectors positioned better than the Aussie mining services space.
Even after a significant run for contractors, which has seen many make up big deficits against their book value in recent years, optimism remains as mining services stocks chase new work emerging from record gold and copper prices, inspiring new mine builds and expansions.
Perenti (ASX:PRN) is a poster-child of that renaissance, having seen off superstitions about the fortunes of founder-led companies that pass into corporate hands.
- Perenti is the legacy of three main companies, two of them informally intertwined for decades.
Author's summary: Perenti's growth in the ASX 200.
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