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Shi, looks great with £142m in the bank and £42m profit. But there have been 2 recent profit warnings and both the CEO and CFO resigned at the same time. Canaccord have written a very poor report on them. I was tempted myself as the mcap is not far off the cash in the bank. I'm not saying it won't recover, just I won't be buying any yet.
Hopefully Ivor will get the price he wants here, well that’s what I assume if people go cryptic.
I see SHI have 62% of their shares in the hands of notifiable institutional investor (over 3%) not a bad endorsement.
Over at SHI JPM have been selling shares but increasing their holding via the purchase of other financial instruments, it’s not nice to see them selling but I don’t think it’s because of anything directly related to SIG, they seem to be selling a fair few holdings at the minute... surely if there was something seriously wrong with SIG then there’d be more institutions dumping....it does look to a decent recovery stock, I’m sure they’ll be a few bumps in the road but they sit in a pretty good place atm, plenty of cash, manageable debt and operations are back up and running
As for HZM, I won’t be able to watch the presentation but I’m hoping for some positive hints of what’s going on behind the scenes, and I’m sure it will be very positive.....
Hi ilfc4life,
On the issue of SHI, I can't add anything other than to say it was a good example as to the fact that JPM notified when they crossed a theshhold. At 7:27 yesterday, I posted this:
No 7:00 RNS today. Anyone got an answer to this mystery? When reading https://contrarianinvestor.net/ On 4 May 2020, we had the headline ‘SIG (SHI) looks the ultimate post-Covid recovery play.’ So why have JP Morgan been selling there too?
Actually I'd like to know the answer to this post as well Ivor - What do you mean by your SHI comment. Genuinely interested as I'm a holder there as well.
I know this is the HZM board but what did your comment mean regarding SHI? Looks to be a fairly solid business that is currently undervalued. I hold
If you read more about Shi you will work out why they are selling.
I read another poster on the SHI board say that JPM are selling there because they bought out a previous holder, thus inheriting the shares so it wasn't their idea to buy them in the first place. I'm fairly sure that's not the case here.
Put that way Pickedpeck,
I agree with that
Nicely put pickedpeck. ATB
Just so we are on the same page about who and what JP Morgan are:
JPMorgan Chase is ranked by S&P Global as the largest bank in the United States and the sixth largest bank in the world by total assets, with total assets of US$2.687 trillion.
The idea that they would sell <$10m of HZM because of a totally unrelated criminal investigation is a little farcical if you don't mind me saying...
Hi Hazbeen,
FiremanSam1968 posted the very same link yesterday (16:04). Not happy to have read it but on the other hand, there are so many underhand going on with banks etc, On balance, I don't think it is related to selling here. ATB
Not sure but it could be related to this?
JP Morgan criminal investigation
https://hotcopper.com.au/threads/jp-morgan-under-4th-criminal-investigation.5404086/
JP Morgan’s Smaller Company Investor Trust has the likes of Pets at Home with a market cap of 1.17 billion.
Their Brazilian Trust has Vale, that’s been a nice smooth ride for them recently!
Jeremy Martin said a long time ago that we needed a 100 million market cap for more inward investment, we are a minnow waiting for big fish to invest for the long term.
Institutional investors have been selling for two years, hopefully those left value and understand mining.
Plod on folks as usual, one day something truly transformative will land, probably when we least expect it.
Nthoftheriver,
Thanks. Speaking of RG, he appears to have a reputation that mimics exactly what you say but he is worth a bob or two. It is also said he often reports his transactions late. Can anyone here corroborate that while we await some news - likely to be tomorrow evening methinks. ATB
No real idea why JPM sold, but let’s face Richard Griffiths sold down, presumably as he could see better opportunities elsewhere. He held through a lot of the rough period and when it looked as though things were/are becoming clearer, he up and sold out. Maybe JMP they did the same.
Hopefully things might be clearer tonight.
SHI is on the main exchange so tighter rules, in the Wild West it seems to me rules are less regulated.
ilfc4life, I think it is a valid argument to use. It demonstrates JPM do abide by the notification rules. Many PI's sell when they believe they can buy in cheaper later but that is rarely the case with II's - they would have to know they would get the volume at a price below what they sold for. That just can't be the case here. The other mystery for me is why sell HZM when they have announced they will back climate change - EV surely is part of that. ATB
No idea. I do think SIG offers good upside but it is worth noting that while JPM have been selling their shares in SIG they have been increasing their holding through the purchase of financial instruments, so while they are selling one they are buying the other, I don’t know why they are selling but I just used that as an example because I don’t know why they’d not notify here if they were selling and given the fact we are weeks away from financing I’d like to think there’s more to it then selling out, why should they sell out in the long term everybody invested here is going to do very well, I’m sure JPM know that also so as pointed out maybe it’s because they intend to be involved elsewhere
Good morning all,
No 7:00 RNS today. Anyone got an answer to this mystery? When reading https://contrarianinvestor.net/ On 4 May 2020, we had the headline ‘SIG (SHI) looks the ultimate post-Covid recovery play.’ So why have JP Morgan been selling there too?