3 UK Stocks to Watch in 2024
As we enter 2024, here are three UK stocks that have shown promising signs recently. Past performance is not a reliable indicator of future results
Content:
1. Centamin
Ticker:CEY
Market Cap: £1.18bn
PE Ratio (forward): 10.9
Gold is being driven higher by a weakening US dollar and this has created a tailwind for gold mining stocks.
Egyptian gold producer and explorer, Centamin recently published a strong update revealed that its gold reserves have surged by 28% to 7.7 million ounces (Moz) in 2023. This growth was led by a 10% increase in reserves at its Sukari Gold Mine and new reserves at Doropo in Côte d’Ivoire.
On the price chart, Centamin have finished the year in fine form with the shares rallying strongly in November and prices holding above resistance in December.
Upcoming Events for CEY:
CEY Daily Candle Chart
Past performance is not a reliable indicator of future results
2. Hunting
Ticker: HTG
Market Cap: £489.05m
PE Ratio (forward): 10.4
Rising geopolitical tensions and a relentless pursuit of energy security have ignited a surge in drilling activities across the globe. Governments, despite their environmental commitments, are prioritising stability in energy supply, propelling heightened drilling in regions spanning the US, UK, Norway, France, Australia, and Canada.
This surge in drilling not only sustains but also elevates the pivotal role of companies like Hunting. As a key supplier of advanced technological products to the oil and gas sector, Hunting finds itself in a prime position to capitalise on this rising demand.
On the price chart, the shares recently broke out of a descending channel pattern, indicating a potential change in the stock's recent trend.
Upcoming Events for HTG:
HTG Daily Candle Chart
Past performance is not a reliable indicator of future results
3. Keller Group
Ticker: KLR
Market Cap: £636.07m
PE Ratio (forward): 6.5
Keller is a global geotechnical specialist, offering engineering and construction services related to the ground beneath us. Keller holds a dominant position in the £38 billion geotechnical industry, has strong earnings momentum, and an appealing forward valuation.
Keller's latest trading update for the year ending September 30, 2023, surpassed market expectations with higher profits anticipated. CEO Michael Speakman highlighted exceptional performance, particularly in North America's Suncoast division. The company's cash generation exceeded last year's, leading to a much-improved debt ratio, showcasing Keller's resilience in varied markets and strong financial performance.
On the price chart the shares are trending higher, and the shares are currently consolidating beneath its August highs. A decisive break above this resistance could trigger another wave of buying pressure in this stock.
Upcoming Events for KLR:
KLR Daily Candle Chart
Past performance is not a reliable indicator of future results
Disclaimer: This is for information and learning purposes only. The information provided does not constitute investment advice nor take into account the individual financial circumstances or objectives of any investor. Any information that may be provided relating to past performance is not a reliable indicator of future results or performance. Social media channels are not relevant for UK residents.
Spread bets and CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 75% of retail investor accounts lose money when trading spread bets and CFDs with this provider. You should consider whether you understand how spread bets and CFDs work and whether you can afford to take the high risk of losing your money.
Content:
1. Centamin
Ticker:CEY
Market Cap: £1.18bn
PE Ratio (forward): 10.9
Gold is being driven higher by a weakening US dollar and this has created a tailwind for gold mining stocks.
Egyptian gold producer and explorer, Centamin recently published a strong update revealed that its gold reserves have surged by 28% to 7.7 million ounces (Moz) in 2023. This growth was led by a 10% increase in reserves at its Sukari Gold Mine and new reserves at Doropo in Côte d’Ivoire.
On the price chart, Centamin have finished the year in fine form with the shares rallying strongly in November and prices holding above resistance in December.
Upcoming Events for CEY:
- Thursday, March 21st 2024 - Full Year 2023 Centamin PLC Earnings Release
- Thursday, April 18th 2024 - Q1 2024 Centamin PLC Earnings Release
CEY Daily Candle Chart
Past performance is not a reliable indicator of future results
2. Hunting
Ticker: HTG
Market Cap: £489.05m
PE Ratio (forward): 10.4
Rising geopolitical tensions and a relentless pursuit of energy security have ignited a surge in drilling activities across the globe. Governments, despite their environmental commitments, are prioritising stability in energy supply, propelling heightened drilling in regions spanning the US, UK, Norway, France, Australia, and Canada.
This surge in drilling not only sustains but also elevates the pivotal role of companies like Hunting. As a key supplier of advanced technological products to the oil and gas sector, Hunting finds itself in a prime position to capitalise on this rising demand.
On the price chart, the shares recently broke out of a descending channel pattern, indicating a potential change in the stock's recent trend.
Upcoming Events for HTG:
- Wednesday, January 10th 2024 - Q4 2023 Hunting PLC Trading Statement Release
- Thursday, February 29th 2024 - Full Year 2023 Hunting PLC Earnings Release
HTG Daily Candle Chart
Past performance is not a reliable indicator of future results
3. Keller Group
Ticker: KLR
Market Cap: £636.07m
PE Ratio (forward): 6.5
Keller is a global geotechnical specialist, offering engineering and construction services related to the ground beneath us. Keller holds a dominant position in the £38 billion geotechnical industry, has strong earnings momentum, and an appealing forward valuation.
Keller's latest trading update for the year ending September 30, 2023, surpassed market expectations with higher profits anticipated. CEO Michael Speakman highlighted exceptional performance, particularly in North America's Suncoast division. The company's cash generation exceeded last year's, leading to a much-improved debt ratio, showcasing Keller's resilience in varied markets and strong financial performance.
On the price chart the shares are trending higher, and the shares are currently consolidating beneath its August highs. A decisive break above this resistance could trigger another wave of buying pressure in this stock.
Upcoming Events for KLR:
- Tuesday, March 5th 2024 - Full Year 2023 Keller Group PLC Earnings Release
- Thursday, May 16th 2024 - Keller Group PLC Annual Shareholders Meeting
KLR Daily Candle Chart
Past performance is not a reliable indicator of future results
Disclaimer: This is for information and learning purposes only. The information provided does not constitute investment advice nor take into account the individual financial circumstances or objectives of any investor. Any information that may be provided relating to past performance is not a reliable indicator of future results or performance. Social media channels are not relevant for UK residents.
Spread bets and CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 75% of retail investor accounts lose money when trading spread bets and CFDs with this provider. You should consider whether you understand how spread bets and CFDs work and whether you can afford to take the high risk of losing your money.
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