Gordon Stein, CFO of CleanTech Lithium, explains why CTL acquired the 23 Laguna Verde licenses. Watch the video here.
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Jefferies has reiterated its 'buy' recommendation and 2,185p target price for engineering giant Weir Group, saying that consensus upgrades are in order following Tuesday's Capital Markets Day. In a brief statement that highlight the presentations given to investors, Weir reconfirmed its full-year guidance. Jefferies said that this implies a pre-tax profit of £470m, which would see Bloomberg consensus figures raised by 4%. "This will be taken well by the market, as a lot of bad news is priced in at the moment." said analyst Andy Douglas.
Shale-gas biz = 9% of total profits, share price drop 20% - must be better targets for shorters!
This site gives a big list of shorting percentage each month. Weir tops the FTSE list with 22.89% in May over a FTSE 100 average of 1%! https://www.euroclear.com/site/public/EUI/!ut/p/c5/hY_NToNAFIWfhQdo5srw53LKELAyQGGgDJsGrRKgFEIIzfD0YuJCja33LL985-agAq25lHNdlVPdX8ozylFhHA19n_impwLETxTUnRFGYeRhzYGVi2_cZa4OaoDDHVAbu8z8xz6gHLRj0lgDk1PuL_bMm2UvGSUPrHEkW4QMppfolMXpltivdBTL6hQ_Wv_4-cnhxhH45VuZb4HKSfTIQwrPGb7f76h3fTs0UOD13RsSqDBvbk8B8a_tsp94jWViQA_CAtbkfHsd24p3-iZvzy7vss3YHnTRE_l-arRKUdDQpfPgxN4ViPIBuYVhag!!/dl3/d3/L0lDU0NtbUEhL3dPb0JKaVVNQnJDSy80QzFiOFVBZy83XzY1UVNMN0gyMDBSSUQwMko2T1BPUEgzNFUwLzMwNw!!/ If you want to look up a share, just wade through the pages on 926 stocks (not sure how to go to a particular stock or starting letter. HMV & HOME very large shorting too.
Yeah everything says UP except the shorters. If it goes back up to 1600, I'm going to hedge my losing long position and sit on the fence for a while.
The general market view is that Weir Group is a buy and the recent share price weakness could be seen as potential entry point.
Despite these positive results the share price has since come under significant pressure, falling 19% in the last few months. There was some disappointment that management guidance for 2012 had not been revised upwards but the main drivers behind the share price falls are worries about a general slowdown in activity from shale gas producers which could affect their oil & gas business.
Acquisitions have been sought out to bolster future prospects and accompanying management comments were understandably upbeat: 'The Group enters 2012 with a strong order book and with our clear strategy and flexible business model we expect a year of further good progress consistent with current consensus expectations.' Management confidence was further underlined by a 22% dividend increase. The company has also recognised its potential dependence on economic growth and has made efforts to concentrate on less cyclical after-sales service in recent years. In addition, any improvement in the US economy is likely to benefit Weir, since over 40% of its 2011 sales came from the US.
February's full-year results contained some impressive headline figures and pointed towards positive prospects. Operating profit rose 33% to £413 million and stronger commodity prices underpinned future growth. The continued rebound in business from North America helped the oil & gas divisions profits rise 61%, whilst China's growing demand for commodities helped profits rise 22% in the minerals (mining) division. They also met their target, of doubling 2009 profits by 2014, well ahead of schedule.
The company has gone from strength to strength, consistently growing earnings, revenue, profit and dividends. It now operates in over 70 countries, employs around 14,000 people and offers far more than just valves and pumps. It is well established in three main markets; minerals (including the provision of slurry handling equipment and mining), oil & gas (designing and manufacturing pumps for that industry) and power (support for global industrial power generation).
Are they moving on to pastures new? I feel tomorrow might be significant - 2 days up, can we make it 3 and start to be rid of them? I'm watching the FT 'DX short selling activity' to see if it drops a notch from 'High' to 'Medium'.
"Weir's shares trade near a seven month low and look too good to miss, both as a short-term volatility play and for investors more comfortable with a buy and hold strategy. Underpinned by key structural themes such as energy security and industrialisation of emerging markets, the shares are a buy.
Pump and valves specialist Weir Group has been a favourite of the bears this year on concerns the low US natural gas price would crimp orders for equipment for the shale gas industry. The boom in fracking and shale gas production has resulted in a glut of gas in the US – and it does not yet have the infrastructure to support exports. This has resulted in producers reining in gas developments. However, 32 per cent of total revenues in 2011 were generated by the oil and gas unit – and not all of these orders related to US shale. Last week’s trading update revealed that orders in oil and gas slumped 26 per cent on a like-for-like basis in the first quarter. However, order input at its minerals division rose 18 per cent, which was ahead of expectations. Power and Industrial orders were also strong, up 35 per cent, or 27 per cent on a like-for-like basis. This meant the group maintained its full-year guidance. Questor feels very strongly that the long-term prospects of Weir outweigh the short-term issues in some of its markets. Each of its sectors is in a long-term bull market as the global population rises and demand for energy and basic materials rises. For that reason it concludes by saying that, “Questor maintains a buy on this quality company.”
Credit Suisse has slashed its target price for engineering group Weir to just 1,700p, from 2,350p previously, following this week's first-quarter statement. "Drivers of our downgrade are solely Upstream Oil & Gas derived and reflect more cautious management guidance and our view that a pricing headwind will materialise for both pressure pumping OE and aftermarket in 2013E," the broker said.
Pablo - I think I agree for time being
David Nel, CEO of SNR, said: "This joint venture signals a strengthening of our relationship with Trasteel. We believe that this new, higher margin anthracite focus will assist greater value creation for shareholders, whilst being developed along side a thermal coal business. We are also very pleased to report rapid progress at the mine in support of this pivotal opportunity for Elitheni coal."
issued. Reasonable tone and Q1 results - enough to oust the shorters? I doubt it.
I hate them. I wish shares weren't 'fungible' and each individual holding had to be specifically leant out to a shorter. Who'd want to do it? You're letting someone try and bring down the company you're invested in and you want to go up. Bananas - bring back paper cetificates if that's what it takes. All these electronic nominee shareholdings anonymously lend out the shares for their own profit - doesn't do the actual holders any good at all. So annoying. Hope there's one massive 'bear trap' and all these hedge funds get done over. The AGM's on Tues 8th and a trading statement is due on Wed 9th - seems strange.
Latest figures show almost 20pc of shares in Weir, the FTSE 100 company, are being shorted – or sold down – ahead of a trading statement on Wednesday. The short position, of 18.6pc, is almost 20 times that of the average FTSE 100 company, of approximately 1pc, according to information from Data Explorers. It has risen from 6.6pc at the start of the year, as investors bet that the company's interest in the American fracking market will backfire. Fracking is a relatively new technique using hydraulic fracturing to access gap trapped in shale rock at low cost. Weir's SPM business is a market leader in providing pumps to the industry, but it accounts for just 9pc of group sales. Hedge funds have taken the positions with the view that the US gas price will fall, making fracking less economic. At the same time, Weir's own house broker, Bank of America Merrill Lynch, has downgraded its forecasts for 2013. Last week, analyst Alex Toms said, due to more cautious comments regarding SPM than expected, it has cut its earnings per share estimate for next year to 9pc below consensus forecasts. A Weir spokesman declined to comment. http://www.telegraph.co.uk/finance/newsbysector/industry/9248344/Weir-shares-targetted-by-short-sellers-on-fracking-fears.html
Hotly tipped in IC today claims its way oversold
!6% of shares shorted currently, biggest % on LSE !
Eley on Squawk rates Weir as undervalued as its at a 7 month low and reasons like pump supply to oil & gas co s is overplayed. No! LOL.
Weir Oil & Gas launches new products for upstream oil and gas markets The Oil & Gas division of the Weir Group PLC (Weir) today launches five new products, in line with its strategy of being an innovative supplier to the upstream oil and gas markets. The new products broaden its portfolio, expanding its addressable market by over US$500m. They include the Duralast(TM) patent-pending fluid end technology. The products will launch at the Offshore Technology Conference in Houston, Texas, the world's foremost event for drilling, exploration and production technology. Fluid ends are a key aftermarket pressure pumping component used in shale oil and gas drilling operations. When an SPM® frac pump uses Duralast(TM), we project that it can have up to double the life of existing SPM® fluid ends. Using existing materials, Duralast(TM) can deliver operational cost savings while the technology can also be applied to fluid ends made with stainless steel and other alloys. Duralast(TM) fluid end technology will be initially launched for our Destiny(TM) frac pump range in the third quarter of 2012, before being applied across the full SPM® fluid end range. The other new products launched today are: Destiny(TM) QWS 2800 frac pump - this pump has been engineered for harsh shale applications. The pump's increased horsepower and Duralast(TM) fluid end technology is designed to deliver robust performance and low operating costs. Gladiator(TM) water and slurry pumps - the slurry pump has been designed to deliver lower operating costs through long lasting performance, and is manufactured using a proprietary Weir alloy which has already been proven to significantly increase the equipment life in aggressive mining applications. Stampede(TM) swellable packers - use a Weir proprietary elastomer compound which provides predictable swell when in contact with well fluids and with changes in temperature. The Weir Group PLC will issue its Q1 interim management statement on 9 May 2012.
http://www.investegate.co.uk/Article.aspx?id=20120430070132H7183
today so far. But is this perversely Shorters just taking their profit sending the sp up again, ready for their next Short? Is it a Bear Trap where all the shorters get caught short - lol. This then super escalates the sp as they all try to cover their positions. Really though I think this can only happen when the stock is in short supply, i.e. not much free float whereas this share has 210.55m free shares about 98%. Anyway, no-one's here but me.
back to HIGH. Shares mag. last week tipped it on technicals as a Short too. Tipped Sell @ £16.89, target £9.72!!!!!!! but Stop Loss @ £18.70 - this last figure is interesting 'cause if anyone followed this tip to the letter it stopped out on the first day. However, since this Short is going too well. I'm Long of course but wondering if I should 'hedge' with a concurrent short. Can't see much wrong with the company - just getting massively shorted.