Azzet reports on three stocks with price moving updates today.
Perpetual rises on wealth management selldown ~
Shares in Perpetual (ASX: PPT) were trading 2.3% higher by 1:50 pm AEDT (2:50 am GMT) after the financial services company told the market it was selling its wealth management business to private equity firm Bain Capital for an upfront cash payment of A$500 million, with potential additional and earn-out payments of up to $50 million.
The deal is being viewed as a critical execution of the company's long-term strategy to break up and simplify its operations and follows a failed $2.18 billion attempt to sell both the wealth and corporate trust divisions to KKR in 2024, which collapsed due to an unexpectedly high tax bill.
The deal includes a 15-year licence for the “Perpetual Wealth” and “Perpetual Private” brands, while Perpetual retains the main “Perpetual” brand.
It’s understood that the funds will be used to reduce debt - notably repay a $400 million bridging finance facility - and support Perpetual’s investment in organic growth in its asset management and corporate trustee businesses.
Completion is expected in late 2026, subject to regulatory approvals and corporate restructuring.
Commenting on today’s announcement, Perpetual CEO Bernard Reilly told the market that the wealth management selldown is a pivotal step for Perpetual and the right outcome for shareholders.
“Following completion, Perpetual will have a stronger balance sheet and more simplified business, focused on two core businesses, asset management and corporate trustee services, while also enhancing its ability to invest for future growth and deliver improved shareholder returns over the longer term," he said.
“Today’s announcement also provides clarity and certainty for our teams, who have continued to show an exceptionally high level of professionalism, commitment and focus throughout this process.”
Today’s update comes as a welcome relief for long-suffering shareholders who have watched the share price continue to unravel from last year’s late August high of $22.15.
In addition to significant net outflows, which reached $18.4 billion during the 2024 financial year and continued into late 2025, early last year, analysts at Morningstar downgraded Perpetual's "moat" rating from Narrow to No Moat, citing the asset management business's inability to retain assets across market cycles.
However, the stock is still currently trading at a 23% discount to Morningstar Quantitative’s fair value of $21.39.
The company reported a statutory loss of $472.2 million for the full year ended June 2024.
Perpetual has a market cap of $1.8 billion; the share price is down 10% in one year and down 7% in the last week.
The stock’s sentiment among investors has been weak, resulting in a bearish sloping 200-day moving average.
More recently, the stock has fallen dramatically enough to register in the oversold region of the Stochastic Oscillator.
Consensus is Moderate Buy.
Saturn Metals drops after updating on high-grade gold hits
Despite releasing significant high-grade gold assay results from its 100%-owned Apollo Hill Gold Project near Leonora, WA, Saturn Metals (ASX: STN) was trading around 10.6% lower.
While it’s unclear why the stock sold off today, it may reflect market volatility affecting the gold sector and potential "sell the news" sentiment following its latest exploration results.
At face value, today’s update is good.
The latest intercepts further highlight the prospectivity of the Iris Footwall structure within the Apollo Hill project.
Key drill results from the Titan Zone include 15 metres at 5.53 grams per tonne (g/t) of gold from 10 metres, and 2 metres at 17.71 g/t of gold from 178 metres.
Additional notable intercepts include 7 metres at 3.50 g/t of gold from 16 metres and 4 metres at 3.62 g/t of gold from 85 metres.
Today’s updates build upon previously reported discoveries at Titan and continue to demonstrate the potential for higher-grade gold zones near the Apollo Hill Mineral Resource.
Meanwhile, mineralisation at Titan remains open both down-plunge and along strike, which suggests potential for further expansion.
The geology in the area exhibits typical Archean lode gold characteristics, which can concentrate gold at higher grades.
Closer-spaced resource drilling is currently underway around these discovery holes, with approximately 2,000 metres of additional drilling planned before the end of March.
Commenting on today’s update, Saturn’s managing director, Ian Bamborough, told the market that this second exciting batch of assay results for 2026 further highlights the potential for higher-grade gold zones to repeat along the Iris Trend near-surface in footwall and adjacent positions to the 2.24Moz Apollo Hill Mineral Resource.
“Assay results remain pending from 92 drill holes across the deposit, including in-fill drilling at the Titan Zone. We look forward to reporting further results in the coming weeks.”
Saturn Metals plans to incorporate all new results into the next Mineral Resource upgrade, scheduled for the second quarter of 2026.
These results will also contribute to the Definitive Feasibility Study (DFS) currently in progress and an updated Ore Reserve.
Last October, the miner successfully completed a $45 million share placement at the offer price, which represented a 15.9% discount to the last closing price of $0.690 on 29 September 2025.
The miner’s cash position at the end of the December quarter was $58.63 million.
Saturn Metals has a market cap of $229 million; the share price is up 64% in one year and down 17% in the last week.
While the stock’s 200-day moving average is trending upwards and highlights long-term investor interest in the stock, the 5-day moving average is below the 20-day moving average.
Consensus does not cover this stock.
Bass Oil rallies on capital raise
Shares in Bass Oil (ASX: BAS) were trading 15.3% higher this afternoon after the oil producer returned from a trading halt to announce it has successfully raised $3 million from existing shareholders and new institutional investors to accelerate its gas and oil projects.
How much of today’s market reaction reflects the current threat of oil shortages is unclear.
However, investors clearly like the company’s plans to move from junior oil producer to a dual oil-and-gas producer with scalable upside in the Australian East Coast gas market.
In addition to ongoing drilling of the Bunian 6 oil well in Indonesia, raised capital will also be used to help fast-track the Vanessa gas field acquisition and recommissioning, which already has a three-year Gas Sales Agreement with Origin Energy starting in 2026.
Once commissioned, the Origin agreement effectively makes Bass a new entrant into the East Coast Gas Market.
This is arguably where Bass’s real value story sits, given the ongoing supply tightness on the East Coast.
The funds will also support progressing the Kiwi liquids-rich gas project towards a Final Investment Decision.
The company received binding commitments for approximately 47.6 million new shares at $0.063 per share.
For every two placement shares subscribed, investors will receive one free attaching option, exercisable at $0.0945 and expiring two years from the issue date.
Settlement of the placement shares is expected on March 23, 2026.
Commenting on today’s update, Bass Oil’s managing director, Tino Guglielmo, told the market that today’s placement endorses the company’s strategy to enter the East Coast Gas Market and boost oil production amid elevated oil prices.
Meantime, while the Origin offtake contract materially de-risks the gas side of the story, giving Bass a clear pathway to monetising production - once it’s up and running – the key risk now is execution.
The market will clearly want to know that commissioning remains on schedule and whether Bunian 6 can deliver the expected production uplift by mid-year.
Bass Oil has a market cap of $25 million; the share price is up 86% in one year and up 63% in the last month.
The stock appears to be in a strong bullish trend, confirmed by multiple indicators.
Consensus does not cover this stock.
This article does not constitute financial or product advice. You should consider independent advice before making financial decisions.
