Aurora Oil and Gas skyrockets on takeover offer; gold miners Newcrest Mining and Regis Resources shine

Aurora Oil & Gas skyrockets on takeover offer, while gold miners Newcrest Mining Limited and Regis Resources shine

The weekly top gainers and losers on the ASX 100.

Darryl Daté-Shappard

I started investing after finding a copy of Peter Lynch's "Beating the Street" in the English book section of a library in Japan, where I was living at the time in 1997. Seeing that regular people can find investment ideas just as easily as professionals, I used the philosophy of that book to invest in stocks in Japan, and later in Australia after moving in 2001. I also have experience in property investing, and went on to complete my masters degree in Applied Finance at QUT in Brisbane. I follow the investment style of Peter Lynch, Phillip Fisher and Warren Buffett-- knowing what you invest in, doing your homework to keep up with a stock's story and holding a healthy skepticism of what the stock market calls "value".

Published February 10, 2014 12:30 am AEDT

The S&P ASX 100 Index (ASX: ^XTO) fell 0.5% for the week, mirroring the small dip in the S&P 500 Index (NYSE: ^GSPC). On Tuesday, the RBA held the cash target rate at 2.50%, but changed tact from the previous meeting, showing more concern about inflation rising. The Aussie dollar rallied on perceived currency strength from $0.875 to $0.895 versus the US$.

Here are the top ASX 100 gainers and losers for the week.

Aurora Oil & Gas Limited (ASX: AUT) +49.8% ($4.09)

Is an energy producer operating in the resource rich Eagle Ford shale oil region within the US state of Texas. It received a $1.84 billion takeover offer, equating to $4.10 a share. The share price jumped 56.1% on the day of the announcement. Its board is recommending the bid to shareholders.

Newcrest Mining Limited (ASX: NCM) +7.4% ($10.37)

Has been supported because the gold price is showing resilience around $1,250/oz – $1,260/oz. A recent company update shows more production of higher grade gold, reducing all-in sustaining costs for all its mines to a below average realised price for the December quarter.

Regis Resources Limited (ASX: RRL) +5.2% ($2.84)

The gold producer released its December quarterly report on 30 January, announcing a total quarterly gold production of 71,991 oz at a cash cost of A$744/oz prior to royalties.

Fortescue Metals Group Limited (ASX: FMG) +5% ($5.60)

Its December quarterly report released 30 January showed a record 28 million tonnes of iron ore was shipped, bringing total half-year shipments to 53.9 million tonnes, up 51% from the prior corresponding period.

BlueScope Steel Limited (ASX: BSL) +4.6% ($5.65)

The ACCC announced on 30 January it will not oppose the acquisition of Fielders Australia, a subsidiary of Hills Ltd (ASX: HIL) which makes roll form steel products. This acquisition accompanies the recent ACCC approval of the other acquisition of Orrcon, also a Hills subsidiary, by Bluescope.

ASX 100 losers

Flight Centre Travel Group Ltd (ASX: FLT) -4.9% ($45.13)

WorleyParsons Limited (ASX: WOR) -4.8% ($15.66)

QBE Insurance Group Ltd (ASX: QBE) -4.6% ($10.96)

ResMed Inc (ASX: RMD) -4.3% ($4.84)

Brambles Limited (ASX: BXB) -3.6% ($8.68)

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