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GR Engineering Services Ltd ASX:GNG

Engineering Services Mining Services Base Metals

0 opened or increased4 held0 reduced or exitedlatest position by manager, past 12 months90 days: 0 increased, 0 reduced. 4 managers in total.

Position history by manager Showing 3 of 4 managersSelect a point to see the comment

Opened or increasedHeldReduced or exited Start or end of the position not reported

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2026

31 Jul 2025 to today

Commentary Showing 2 of 5

DateManagerActionSummary

30 Jun 2026Spheria Asset ManagementHeldSpheria continues to hold GR Engineering because, as a bottom-up fundamental investor historically underweight resources, the fund gains exposure to the sector through quality mining services names such as GR Engineering, Mader and Lycopodium rather than direct miners. Spheria notes that despite this positioning, its holdings were not enough to fully offset the strong returns delivered by the broader materials sector over the financial year, reflecting a deliberate preference for lower-risk services exposure over commodity-price-driven mining equities.

Mining ServicesMonthly Report, price recorded $5.31

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31 May 2026Ausbil Investment ManagementHeldAusbil Investment Management continues to hold GR Engineering Services because the company secured several major contracts during May, capitalising on the mining cycle and reinforcing its reputation as a leading engineering firm. Key wins included the EPC contract for the Tower Hill Gold Project with Genesis Minerals, preferred contractor status for Ora Banda's Davyhurst expansion and an EPC contract at the Laverton Processing Plant with Brightstar Resources.

Engineering Services Mining ServicesMonthly Report, price recorded $5.95

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First mention by manager

Price recorded at each manager's first comment

Price at first mentionThe share price recorded when each of 4 managers first commented on GNG.

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Articles

30 Jun 2026GR Engineering: Fund Managers On A Record Gold Contract Pipeline
30 Jun 2026GR Engineering Rallied 29% on Over $500m in New Contract Wins

About GR Engineering Services Ltd

Industrials, Metals and Mining

GR Engineering Services (ASX:GNG), an engineering and construction firm for mineral processing, has benefited from a busy mining cycle. In May 2026, Ausbil reported GR Engineering returned 29% in a month after securing several major contracts, capitalising on the mining cycle. Yarra said it has owned GR Engineering for a long time and sees strong demand given the amount of work in the resources sector, and Balmoral described it as a leading builder of gold and base metals processing plants with a growing oil and gas operations and maintenance business. Spheria uses it for resources exposure. GR Engineering operates in the Materials sector within the Metals and Mining industry, and Thesis Tracker has captured 5 comments from 4 fund managers, including Ausbil, Yarra, Balmoral and Spheria. Headquartered in Osborne Park, Perth, GR Engineering provides engineering, procurement and construction of mineral processing plants and operations and maintenance services for mining and oil and gas.

Market cap: $1.3b
Price to earnings: 30.7x
Return on equity: 53.7%
Dividend yield: 3.8%
Price to book: 15.46x
Net margin: 7.9%
52-week range: $3.29 to $8.08

Company figures as of 15 Oct 2026. For information only.

Questions

Who is investing in GR Engineering Services Ltd (ASX:GNG)?

Fund managers including Balmoral Investors have invested in GR Engineering Services Ltd (ASX:GNG).

What opportunities or catalysts do fund managers highlight for GR Engineering Services Ltd?

Managers highlight major contract wins, a strong mining project pipeline and GR Engineering's leading position in building gold and base metals processing plants, according to Ausbil, Yarra and Balmoral.

What are the key risks to the GR Engineering Services Ltd investment thesis, according to fund managers?

The available commentary is positive, though as a contractor GR Engineering faces fixed-price project risk and depends on the mining investment cycle.

What does GR Engineering Services Ltd (ASX:GNG) do?

GR Engineering Services Ltd. is an Australian engineering, consulting, and contracting firm serving the mining, mineral processing, and oil and gas industries. Headquartered in Ascot, Australia, and founded in 2006, the company operates across two primary segments. The Mineral Processing division provides engineering, procurement, and construction (EPC) solutions and management contracts. The Oil and Gas division delivers operations, maintenance, wellsite services, engineering, and production assurance. GR Engineering Services provides essential technical expertise for industrial infrastructure development and ongoing production support.

General information only. Thesis Tracker reports what named fund managers have published about ASX companies. It does not take into account your objectives, financial situation or needs, and is not financial product advice or a recommendation to buy, sell or hold any security.

11,356 comments from 164 managers on 761 companies, snapshot 15 Oct 2026.

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