Are these the best FTSE 250 shares to watch in Autumn 2024?

Heading into the autumn, the UK’s macroeconomic environment is perhaps more encouraging than has been the case for most of 2023. Back in June CPI inflation reached the Bank of England’s (BOE) target figure of 2% and soon after interest rates were reduced 0.25 basis points from 5.25% down to 5%.

Since then, inflation has increased to 2.2%. During the BOE’s next meeting, on 19 September, it’ll be interesting to see if further rate cuts are introduced.

Whilst it’s clear that the UK economy has entered a phase where interest rates are expected, their frequency and the amount by which they are cut will depend on inflation. If inflation begins to creep up, future cuts will be more gradual.

Analysts remain divided on whether the UK will experience a recession in 2024, or scrape through to a relatively soft landing. Indeed, whether equities, commodities or real estate, there appears to be no shortage of fence sitting — making considering the best FTSE 250 shares to watch next month somewhat of a challenge.

For perspective, the index is essentially flat for the year, reflecting this ambiguity. The FTSE 250 started out at 19,511 points, rose sharply to 21,600 points in August, and is now at 20,895 points.

However, where’s there’s uncertainty, there’s also often opportunity. But of course, past performance is not an indicator of future returns.

Top FTSE 250 Shares to watch

1. Centamin
2. Hochschild Mining
3. International Workplace
4. Bridgepoint Group
5. Goodwin

Centamin

Centamin is a gold producer based in Jersey with key operations in Africa. Its three main assets are the Sukari Gold Mine in Egypt, the Doropo Gold Project and the ABC Project in Cote d’Ivoire.

As gold prices continue to increase, Centamin has seen its free cash flow double throughout H1, as well as reporting a 13% increase in its All-in Sustaining Costs reaching $1382.

CEO Martin Horgan has announced their satisfaction with these results and stated that ‘Looking ahead to H2 2024, the commencement of the grid connection project will build on our recent success in taking costs out of the business, with commissioning due in H1 2025.’

1. Our analysts have given the stock a buy rating with a price target of 163p in the next 12-month period, up 36.41% from its current price.

Hochschild Mining

Hochschild Mining is a UK based company which focuses on the mining, processing and selling of silver and gold. The company works across three mines: San Jose in Argentina, Mara Rosa in Brazil and Inmaculada in Peru.

The company reported strong H1 results with revenue up 25% year-on-year reaching $391 million and EBITDA up 78% at $177 million.

CEO Eduardo Landin announced his satisfaction with these results stating that the company ‘have delivered a robust second quarter with another good performance from Inmaculada and a first material contribution from our new Mara Rosa mine in Brazil and remain on track to meet our annual production and cost guidance.’

Our analysts have given the stock a buy rating, with a predicted price target of 230p, up 37% from its current price.

International Workplace

International Workplace is a Swiss real estate company who provide virtual offices, meeting rooms and co working spaces for multiple brands worldwide including Spaces, HQ and Regus.

The company’s H1 results reported a record system wide revenue of $2.1 billion and EBITDA rose by 13% to $274 million, up from $245 million the same time last year. Growth was seen division wide with the managed and franchised division seeing a significant increase.

Going forward, the company aims to improve margins in its company owned and leased division and manage overheads across the whole group.

Our analysts view the stock in a buy position with an average price target of 198p, up 13% from its current price.

Bridgepoint Group

Bridgepoint Group is a private equity and credit fund manager based in the UK which focuses on investing in small-mid cap companies. It invests in a range of sectors including financial services, agricultural sciences, automation, healthcare and MedTech throughout the UK, US and Nordic region.

The company reported strong H1 results with its underlying EBITDA reaching £86.2 million, up 55% year-on-year. Its assets under management (AUM) reached €42.7 billion and are expected to increase to €67.3 billion after merging with private equity firm ECP. The company’s core earnings were 55% but overall profit dipped slightly.

These strong results have led Bridgepoint Group to increase their full year guidance, with 25% if its income expected to come from its current investments.

Goodwin

Goodwin is a mechanical and refractory engineering company which designs, manufactures and supplies specialised products for sectors such as energy, defense and aerospace. It focuses on two main areas, mechanical engineering and refractory engineering.

In 2023 revenues remained stable reaching £191 million, up from £186 million the year before, but net income increased by 6.28% from £15.9 million to £16.9 million. This was mostly due to the reduction in production costs.

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Best FTSE 250 Shares Summed Up

Centamin, Hochschild Mining, International Workplace, Bridgepoint, and Goodwin could be the five best FTSE 250 shares to watch next month. These shares are the top returning FTSE 250 stocks in September.

Remember past performance is not an indicator of future returns.

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