Stocks of the Hour: Mosaic Brands, Victory Metals, Atlas Arteria

Mosaic Brands (ASX:MOZ) achieved a significant turnaround, swinging to a $17m profit in FY23 with a 9.6% growth in store-only comparable sales and a 6% decrease in online sales, attributing its success to returning in-store customers and improved cost management. In response, Mosaic CEO Scott Evans, stated “Our customers are back in-store and staying online.” Shares are trading 37.5 per cent higher at 22 cents.

Victory Metals (ASX:VTM) secures additional funding from the conversion of unlisted options, completes a heritage survey, and is set to deliver the maiden JORC Mineral Resource Estimate for the North Stanmore Rare Earth Element Project in Western Australia. Shares are trading 5.88 per cent higher at 36 cents.

Atlas Arteria (ASX:ALX) reported strong Q2 2023 toll revenue and traffic growth, with a 4.8% increase in weighted-average traffic and an 8.2% rise in toll revenue driven by robust traffic in France and higher tolls in an inflationary environment, except for the Chicago Skyway, which was impacted by planned roadworks. Shares are trading 0.88 per cent lower at $6.22.
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Source: Finance News Network