Bingo Industries (ASX:BIN) shares “look compelling” according to one top fund manager

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The Bingo Industries (ASX:BIN) share price has gained over 50 per cent over the past 12 months, making it one of the better performing ASX 200 shares in that period.

In August, the waste management and recycling company said it delivered delivered strong growth in revenue and earnings, and successfully executed on its growth plans set out at the time of the IPO, through strong organic growth, acquisitions and entry into the Victorian market.

At around $3.20, the Bingo Industries share price is trading at close to an all-time high.

Writing in its August 2018 monthly update, the top performing MHOR Australian Small Cap Fund said the company’s acquisition of a Sydney landfill site is a game changer on Bingo’s risk profile.

The fund says growth for the Bingo Industries valuation “looks compelling.”

“We see a key catalyst from the proposed introduction of a landfill levy in Queensland, driving volumes and rising prices for landfill assets in NSW which we expect will have a positive impact on BIN’s future earnings power,” said the fund.

The strong performance of Bingo Industries shares were one of the drivers of the 3.43 per cent return in August for the MHOR Australian Small Cap Fund. Since inception in August 2016, the fund has gained almost 30 per cent, out-performing the return of its benchmark S&P ASX Small Ordinaries Index.

Contributors to this article may own shares in some of the companies mentioned in this article. The Capital Club has a thorough disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.
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Bruce Jackson has 30 years of hands on investing experience. He is passionate about stock market investing, running his own portfolio and SMSF. His focus is on small cap growth stocks. You can contact Bruce at brucej@thecapitalclub.com.au