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re: " It has a P/E of what, just over 5"
That is some way out imo ... RRE are generating roughly £130m profit and mcap is £250m so the PE ratio is more accurately about 1.9
Makes you wonder how many folks just look at the PE ratio as displayed on the popular sites and are misled. LSE gives PE 9 / HL gives PE 6.8 / ii PE 7.62 etc etc.
The SP could double and the PE would still be just 4 ... which is where the broker valuation is at around £35 - £38.
that was definitely the bottom eh
Not in the share - just on my watchlist. Re the bottom statement, that is from a combination of expectation that the global equities and oil price correction is largely done, a technical view of RRE share price graph and the P?E ratio it is now trading. It has a P/E of what, just over 5, and cash on the balance sheet.
As to justifying any downward movement - i don't feel any obligation to do that. All investments are a risk reward bet. Don't see any problem with my post earlier.
Trendz - How long have you been in this share and what information did you dissect to come to the conclusion that this morning was 'definitely the bottom'?
Your closing statement which reads 'To me, this looks like a great investment in terms of valuation and risk reward' indicates you have simply thrown out a remark which you imagine sounds good despite you appearing to have any understanding of this investment, or any others.
If this was the bottom this morning then your statement was simply good luck, and if the share goes down further you will be fully expected to come back and provide your rationale as to why it happened. I'm assuming you can as you claim to be a lawyer (they're always investment savvy).
This morning was definitely the bottom - well done if you picked it! The valuation of this company is ridiculous given it is spewing out cash! Makes me suspicious that investment houses are pricing something is currently unknown to your average retail investor. Decommissioning costs? To me, this looks like a great investment in terms of valuation and risk reward
1,860.00 GBX +30.00 (1.64%) Moving into next wave pattern