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Just sold some for a decent profit. Still holding on to quite a few in case it keeps rising GLTA
Deutsche Bank raises Weir target to 2,175 (2,165) pence - 'hold'
Fall seems overdone I think. picked a small amount up just above £18
Should have done it straight away. Could be too late now.
Decent results as expected - WEIR continues to perform well. Typical market reaction without logic. I sold half my holdings yesterday and will buy back today at some point. GLTA
What happened on 13th Dec? couldn,t see any news etc that could have caused the sharp sell -off.
Just sold some after the spike today - still holding quite a lot still . GLTA
The UT trade went through at 1852 which is a jump from trades into the close which were around 1838.
Shows demand for the shares IMHO
Cheer
Barcap
Haha, yes.
Anything associated with AI gets a premium!
Weir acquired an AI company, SentianAI. Let's hope the AI connection pushes the SP over £19!
It'll be back at 1950p soon :-)
1950 a month ago - didn't cash them all in . gutted! 8% decline in a month . ouch!
If sp, can close above 1800, it will break down trendline from 18/4/23, which is bullish . The price found support at the double bottom on 6/7/23, which is bullish .The major up trendline from 14/7/22, is intact, and was in vicinity of the bullish bottom of 6/7/23. The eventual profit target for WEIR, is 2100.
What an awful week for WEIR! I can't see a reason for the decline.
i worked for weir in the past . i will always say , they earn money . like ABF no ones idiot .
Paultokyo29,
Well done on topping up at a great price this morning. I'm a holder. Saw the results this morning and thought they were impressive. Could have been that the market was expecting even better results hence the drop at the open. Anyway this company looks to be still thriving and growing. I'm very happy to keep holding..
SP down sharply despite very positive guidance from WEIR today & satisfactory Q1 results. I have been waiting to top up so did quite a lot this morning. Why is SP down anyway? anyone know?
Full Year Results next Wednesday 1st March
Jon Stanton Sunday Times Interview
https://www.global.weir/newsroom/news-articles/jon-stanton-sunday-times-interview/
Q3 Trading Update good - I bought in yesterday and note a Director Buy today ....
-------------------------
Significant growth in after market orders and strong execution
Very strong demand for Weir mining equipment and spares
· Production trends and installed base expansion supporting Group AM order growth2 +21%
· Integrated solutions and small brownfield activity driving Group OE order growth2 +12%
Good operating momentum and pricing power
· Q3 revenues up strongly year-on-year
· Supply chain and logistics challenges easing
· Input cost inflation mitigated; gross margins maintained
Outlook: Full year guidance unchanged
· Strong growth in FY22 constant currency revenue and profit
· Operating margin expansion in line with prior guidance
· 80-90% free operating cash conversion
These new H1 are good for a company but not necessarily for investors (unless they continue recovery/growth of course).
Generally profit only have reached the point to justify m-cap valuation (which was inflated before).
If it's just an anomaly in profits then sp is likely to go down.
Have bought in today at 1675p. Great results. Weir group in a great position as the Ukraine conflict forces countries outside Russia/Ukraine to maximise their mining resources and cut any reliance on Russian mining. New mining will need to be done as environmentally sensitively as possible, which will puts Weirs technologies in the limelight..
Hard not to concur.
Hope you're right about the proximity of better days - a fair wedge of my pension lodged with the Cathcart crew ...... and some with the -16% today Bab****s. Not a great week for me.
Strip out the sale of the oil and gas division including AMCO net of costs and I believe that explains the reaction today. WEIR's mining operations are not growing anywhere near fast enough to make up for lost future oil and gas revenues.
Reducing net debt during the period is a one off adjustment and the savvy analysts selling today are likely ignoring those headline figures and rather focusing on the slimmed down operations remaining. Still if the company are heading towards a position of increased sustainability and reduced risk on debt metrics, it should mean positive days are not so far away.