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Silver was trading higher in Q3, many believe that it will go higher.
Fully loaded already , not selling, long term hold for me.
Interesting take TLW.
I am way under water on this one - and many others - but too have readjusted what is an acceptable profit though to date every time I sell the SP continues to rise!
Next quarter's results are key to how this moves as a positive sentiment will drive it forward especially in these economic uncertain times.
GLALTH
Heading to new lows - so getting ready to buy more as extremely cheap considering the potential improvements in production etc.
Thanks dimi.
Although I do not pay particular attention to individual brokers' forecasts, I use the mean of all the brokers' valuations as one indicator. Currently, that value is 754.2p; three months ago it stood at 985.2p at around the point that the share price briefly peaked at 921.2p. You are correct in the fact that the location of the mines adds to the risk factor; however having researched the possible threats to my investment, I went ahead with reasonable confidence in the company.
Owing to the volatility in share prices as exemplified by FRES at the end of last week, I am no longer prepared to hold for the long term through thick and thin. I was on holiday last week and remarked to my wife last Thursday after breakfast that my FRES investment was back in the blue. When I checked my phone, a few hours later, it had fallen considerably and the fall continued until the market closed on Friday. Consequently, I am going to take a more pragmatic approach, to investing/trading and will now sell some or all of a holding for a smaller profit than previously, and reassess the situation subsequently. Although this increases dealership charges and stamp duty, the latter are acceptable in relation to a 2-3% net profit on each holding.
I intend to keep my FRES shares at least until I am back in profit; consequently my time horizon will depend on how long this takes. I recently sold some holdings, which I had held for a few weeks for between 2-4% profit; all have fallen slightly since then, and the capital has been reinvested in increasing my FRES and BP. holdings. My least successful investment of late is in a small cap company - Nanoco, which has dithered in the same trading range for the three months or so that I have been invested. It is announcing its latest results this Wednesday, but I am not holding my breath. It should hopefully recover well in due time, but the time frame involved is anybody's guess.
Regards, and best wishes with your investments.
TL, nice one. That's a good average price. My BE is about the same.
I agree that this is a volatile share and it's good to trade it a little bit and of course it's not nice being underwater but at the end of the day this is a top miner that produces a commodity which should keep going higher due to fundamentals (money printing, negative interest rates, record amounts of debts). I don't know your investment horizon and the way you invest/trade but for me personally last Thursday, this Thursday, etc. don't really matter at the end of the day.
FRES is going through some difficulties but none of them seem too bad. The only big risk is that all their mines are in Mexico. That said if the new government there wanted to do something crazy they probably would've done it by now. I think this should be at least a double from here and probably in 6 to 12 months.
I started building a position in Fresnillo with too many shares at way too high a price (just above 700p). Since then as the share price has fallen, I have added to reduce the average buy price. I took a final gamble this morning with 2000 shares at around 625p inclusive of all costs. I currently hold 10,000 shares at an average buy price of 667.5p. As ever, I have underestimated the severity of the potential drop in a company's share price. At the present time, taking the underlying market volatility and other factors into account, there could well be more pain ahead.
I am unlikely to buy more Fresnillo shares, unless there is a further severe drop, in which case I will consider my position anew. Having "set up my stall", I would consider selling at above 700p if the opportunity arose. I say this because there was the possibility of selling at a break even price last Thursday until the share price plummeted at the end of last week. My usual principle of selling ( at a 10% profit only) has disappeared in the face of recent market volatility. I am beginning to wonder whether there will be calmer times ahead for the market once the UK is through the period of EU exit negotiations, or whether the highly unpredictable status quo will remain with investors for the foreseeable future?