市场见解

Why the SRG Global (ASX:SRG) share price reached a 52-week high

The SRG Global Ltd (ASX: SRG) share price reached a 52-week high on the back of a new contract with a major miner. Here’s the latest details.
The post Why the SRG Global (ASX:SRG) share price reached a 52-week high appeared first on The Motley Fool Australia. –

rising asx share price represented my man in hard hat giving thumbs up

The SRG Global Ltd (ASX: SRG) share price is on the move in mid-afternoon trade. Its shares reached a 52-week high during the first few minutes of the market open. However, some profit-taking has led its shares to slightly pull back to 49 cents, up 6.5%.

The milestone achievement comes after the company announced a new contract with iron ore powerhouse Fortescue Metals Group Ltd (ASX: FMG).

Let’s take a closer look at the deal.

What did SRG Global announce?

According to its release, SRG Global advised it has been awarded a 5-year term contract to provide multi-disciplinary services to Fortescue.

Under the Master Agreement for Maintenance and Shutdown Services Agreement, SRG Global will service Fortescue’s mine, rail, and port assets throughout Western Australia. This will initially include providing rope access and electrical maintenance requirements across the Pilbara region.

SRG Global noted that the locations include Christmas Creek, Cloudbreak, Firetail, Kings Valley, and Eliwana mine sites. In addition, rail and port infrastructure assets will also be serviced.

The 5-year contract will generate around $150 million in revenue for SRG Global, depending on the number of works completed.

The services agreement is expected to take effect immediately.

Words from the Managing Director

SRG Global Managing Director, David Macgeorge, welcomed the new deal, saying:

We are delighted to be selected as a key partner to FMG and to provide critical maintenance and shutdown services across their Pilbara operations for the next five years. This is another significant step forward in our strategy to build a portfolio of annuity earnings, with quality clients, to deliver long-term sustainable growth.

SRG Global share price performance

Over the last 12 months, the SRG Global share price has gained more than 30% for patient investors.

During the market rout caused by COVID-19, the company’s share fell to an all-time low of 17 cents. However, its share gradually picked up over time to reach a 52-week high of 50.5 cents today.

Where to invest $1,000 right now

When investing expert Scott Phillips has a stock tip, it can pay to listen. After all, the flagship Motley Fool Share Advisor newsletter he has run for more than eight years has provided thousands of paying members with stock picks that have doubled, tripled or even more.*

Scott just revealed what he believes are the five best ASX stocks for investors to buy right now. These stocks are trading at dirt-cheap prices and Scott thinks they are great buys right now.

See The 5 Stocks

*Returns as of February 15th 2021

More reading

Motley Fool contributor Aaron Teboneras has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

The post Why the SRG Global (ASX:SRG) share price reached a 52-week high appeared first on The Motley Fool Australia.

随时随地,交易世界!

移动APP平台,拥有 12 个市场的 50,000 多种全球上市证券(全球市值超过 70%),直接在您的 Android 或 iOS 设备上即可操作。

与独有的交易理念和投资分析工具相结合,帮助您在我们 12 个全球市场中的几乎所有金融工具上找到可操作的见解,从而帮助您优化交易策略。

推荐给您的朋友

向您的朋友推荐Monex并赠予他们免费使用我们交易工具的机会

我们尊重您的隐私,只会向您的朋友发送一封邮件 

与您的朋友分享

Share on facebook
Share on twitter
Share on linkedin

Monex Trading Tools Access and Usage Terms

The Monex Trading Tools (referred to as ‘tools’ hereafter) are available to you inside your client portal;


To activate access to the tools, you must have a verified and approved trading account and have made a deposit of at least AUD $1000.


An active and funded account with a positive trading balance is required to continue to have access to the tools;


Although the tools are available to you indefinitely, Monex Securities may at it’s discretion disable access to the tools in the future;


Monex securities reserves the right to change these terms and conditions from time to time, as it sees fit, without notice.

Important Notice
iOS & Android App - 12 International Markets & Over 70% Global Market Cap. $0 Brokerage On US Trades. Click Here!