Argo Investments Outperforms Weak Market as Geopolitical Tensions Hit NTAs

Argo Investments Limited ( (AU:ARG) ) just unveiled an update.

Argo Investments reported that its net tangible asset backing per share declined in March, with NTA per share slipping to $10.24, or $8.80 after unrealised tax, as global markets reacted to geopolitical tensions and surging energy prices. Despite the volatile backdrop, the company’s portfolio fell 4.6% but still outperformed the S&P/ASX 200 Accumulation Index’s 7.2% decline, aided by strong gains in energy holdings such as Woodside and Santos, while materials dragged and defensive sectors like Consumer Staples and Utilities held up better.

The most recent analyst rating on (AU:ARG) stock is a Buy with a A$10.00 price target. To see the full list of analyst forecasts on Argo Investments Limited stock, see the AU:ARG Stock Forecast page.

More about Argo Investments Limited

Argo Investments Limited is one of Australia’s oldest and largest listed investment companies, founded in 1946 and trading on the ASX under the code ARG. It actively manages a diversified portfolio of Australian equities via a low-cost, internally managed model, targeting long-term shareholder returns through fully franked dividends and capital growth for about 87,000 shareholders.

Average Trading Volume: 347,951

Technical Sentiment Signal: Buy

Find detailed analytics on ARG stock on TipRanks’ Stock Analysis page.