Perenti (ASX:PRN) share price pushes higher as contract secured

The Perenti share price pushed higher today after it was disclosed that the company had secured an important contract.

| More on:

Image source: Getty Images

You’re reading a free article with opinions that may differ from The Motley Fool’s Premium Investing Services. Become a Motley Fool member today to get instant access to our top analyst recommendations, in-depth research, investing resources, and more. Learn More

The Perenti Global Ltd (ASX:PRN) share price has closed higher today after the mining company announced a $200 million contract with Yaramoko. The Perenti share price ended the day 1.72% higher to $1.18 per share.

What does Perenti do?

Perenti is a global diversified mining services company with key operations in Australia and Africa. They have businesses in surface mining, underground mining and mining support services, to name a few.

The group has operations in 13 countries across 4 continents, has more than 8,000 employees and currently has a market capitalisation of $810 million.

Details of the contract

Today, Perenti announced that its subsidiary, Barminco, was awarded a contract extension at Roxgold's Yaramoko mine. The mine is located 200 kilometres southwest of Burkina Faso's capital city, Ouagadougou.

The contract extension is valued at approximately $200 million over 2 years, from December 2021 to December 2023. This extension follows on from the existing development and production scope currently being executed, taking the total contracted work at Yaramoko to approximately $350 million.

Barminco's CEO, Paul Muller, stated:

The high-grade Yaramoko complex is an important project for Roxgold, Barminco and the people of the Yaramoko community. We are very pleased to extend our contract with Roxgold to December 2023 and look forward to continuing to create enduring value and certainty for our client, employees, shareholders and the people of Yaramoko and Burkina Faso alike.

Perenti managing director Mark Norwell also spoke highly of the contract, saying:

Barminco and AUMS combined are a global leader in hard rock underground mining. This contract extension reinforces their sector leading position and underlines the Group's focus on profitable growth through extending existing contracts and winning new work aligned with our 2025 strategy. We very much value the Roxgold and AUMS relationship and we look forward to continuing to deliver for our client.

What now for Perenti

Perenti recently posted record revenue as the company looks to scale up its operations. This deal represents a step in the right direction although the share still has a long way to go to hit its pre-COVID-19 highs. The share price is currently trading at $1.18 with its 52-week high sitting at $2.40.

Wondering where you should 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 over ten years has provided thousands of paying members with stock picks that have doubled, tripled or even more.*

Scott just revealed what he believes could be the 'five best ASX stocks' for investors to buy right now. We believe these stocks are trading at attractive prices and Scott thinks they could be great buys right now...

See The 5 Stocks *Returns as of 30 April 2025

Motley Fool contributor Daniel Ewing has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

More on Share Market News

A young man pointing up looking amazed, indicating a surging share price movement for an ASX company
Broker Notes

3 amazing ASX 200 shares to buy and hold forever

Brokers think these shares are in the buy zone. Let's see why they could be top buy and hold picks.

Read more »

iPhone with the logo and the word Google spelt multiple times in the background.
Opinions

I've been buying these 2 US stocks in 2025. Here's why

Sometimes the US markets are a better place to go shopping for stocks.

Read more »

Ecstatic woman looking at her phone outside with her fist pumped.
Share Gainers

Why Catapult, Hutchinson, SKS, and West African shares are pushing higher today

These shares are having a strong session despite the market weakness.

Read more »

A man sits in despair at his computer with his hands either side of his head, staring into the screen with a pained and anguished look on his face, in a home office setting.
Share Fallers

Why Dexus, Mayne Pharma, Nufarm, and Treasury Wine shares are falling today

These shares are having a tough session on Thursday. But why?

Read more »

A woman sits at her computer with her chin resting on her hand as she contemplates her next potential investment.
Mergers & Acquisitions

IAG share price lifts off on strategic alliance approval

IAG shares are racing higher in Thursday’s sinking market.

Read more »

Rising gold share price represented by a green arrow on piles of gold block.
Gold

Up 72% in 2025, why is this ASX 200 gold stock racing ahead of the benchmark again today?

Investors are bidding up this high-flying ASX 200 gold stock again on Thursday. But why?

Read more »

A woman wearing a black and white striped t-shirt looks to the sky with her hand to her chin contemplating buying ASX shares today as the market rebounds
Share Market News

Where could the RBA interest rate go in the next 12 months?

Here’s what one expert thinks could happen with interest rates by early 2026.

Read more »

A man holds his head in his hands after seeing bad news on his laptop screen.
Share Market News

5 things to watch on the ASX 200 on Thursday

It looks set to be a tough session for Aussie investors today.

Read more »