The latest Investing Matters Podcast episode with London Stock Exchange Group's Chris Mayo has just been released. Listen here.
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How can UBS put a sell rating on fres after those results, or do they know something we don't, just wonder if this is why so big a drop today.
Noggers
In April 2019 UBS had a BUY rating on FRES with a target price of 1050p..share price was around 795p at that time
By the end of November 2019 the share price had dropped to around 560p
If UBS now has a SELL rating ..then make of that what you will....but ..remember ..they look after themselves ..they aren't looking out for YOU
FRES management is not very communicative and they failed to deliver in the past years. The delay of Juanicipio and higher costs to build the mine with MAG Silver. MAG shares outperformed FRES by 30 per cent since April valuing the company with £1.3 billion, compared to FRES with £6 billion. Penoles still controls 75 per cent of FRES share capital, leaving the free float at 184.2 million shares = £1.5 billion.
808p.
market wasn't disappointed yesterday the SP rose in the afternoon. why the sudden change?
Don't know what the share price would have been if gold and silver was down today.
With only a low float of shares available it’s more easy for the big boys to manipulate the price...I believe that’s what’s going on here. Yesterday’s results was fantastic & the sp responded upward. Today it’s been smashed down straight from the open and then panic sets in. Exactly what they want
"....plus they mentioned potential changes in Mexican employment law for work force?? "
CHRI55
" Mexico's two houses of Congress granted an extension to the transition period until 1 September 2021. Based on the Group's analysis of possible arrangements, the New Regulations are not expected to materially impact production or costs in the second half of 2021."
chri55
I would suggest that 1H21, cost inflation of 8.56% attracted more attention than anything to do with future employment law changes ....
I've sold these after a disappointing 34% loss. You can't win them all.
At least I won't have to listen to the nonsense posted on here anymore.
According to most on here it's all down to market manipulation. If they are so convinced the market is crooked then I really don't understand why they bother investing.
Each to their own OWLS and good luck with what you do next with your capital. This has indeed been a dog this year, but it should come good given the cash it is generating and now beginning to throw off in dividends.
That's quite a big loss OWLS but you could have done the right thing, I am also wondering whether to bail out and move on, because I really can't see anything now that will move this share back north except for the gold and silver price to soar, even then it might not move it all that much.
OWLS, look at the chart with previous fluctuations, then compare to PM prices, then factor in money printing/inflationary pressures, then factor in results, current financial position, production pipeline...I say this is cheap.
As soon as artificial imagination comes into gold mining shares - FRES will fly.
There is no market depth in share trading and most trades are generated by algo-machines.
So far most results of gold miners were not great as expectations moved higher. To top those high expectations - hard work. These companies can not pump hot air in their accounting like most other famous outperforming stocks - mining is real stuff. You can only sell what you mine & you have the costs - nothing else.
A hard standing for value investors at the moment - but cost inflation is not only hitting mining companies. Everywhere higher input costs are eating into profit margins as most industries/manufacturing can't pass on the price increases. Investors and market are ignoring to have passed another earnings peak like we have seen in the secon half of 2019, just before the pandemic was the right excuse for the erosion in profits.
I would still prefer to own FRES or EDV in London instead of the Russian names.
OWLS
Good luck mate.... impossible to actually predict the future.....seems today the Chinese potential slowing use of copper and Iron ore has rippled through commodities a bit.... every day a story to move markets ....one way or the other....
it is daft....clearly so few shares available at these sold down levels of 808p/811p/813p ...and not a real surprise that the shelves are quickly stripped bare......and then it jumps to 823p.....
See ya later OWLS - don’t let the door hit your arse on the way out. Cheers mate
"OWLS, look at the chart with previous fluctuations, then compare to PM prices, then factor in money printing/inflationary pressures, then factor in results, current financial position, production pipeline".
I really can't be bothered to do all that, I'll stick with my momentum strategy, in general it's worked very well for me for many years.
see where it opens. 811.40 UT yesterday was way lower than the last few trades.
we are blue now. good.
not for long :(
Blue lasted for all of 1 minute.
I was researching the outlook for silver prices recently & they certainly do look good over the next 5 years and further. Especially considering industrial use is going to go ballistic. That's the main reason I'm invested here. Gold should also do well but silver will do much better in my opinion.
on the postive the vol is good this morning. CEY down 5% almost and hoc back to 156p. Crazy ! Jobs report later non farm payrolls tomorrow.