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Maybe a stupid question but maybe some more experienced investors can help but I do wonder why the Fres 75% owners don’t just buy out the rest of it and take it private. At this price they can get it for peanuts & enjoy the silver squeeze themselves.
That's interesting. top 25 holders own 92.6% . Probaly explains the strange trading behaviour.
75%
Industrias Peñoles, S.A.B. de C.V. 552,591,460 UK£3.3b 0% no data
1.95%
BlackRock, Inc. 14,368,119 UK£85.5m 10.1% no data
1.72%
T. Rowe Price Group, Inc. 12,686,719 UK£75.5m 5.35% 0.01%
1.66%
Jupiter Fund Management Plc 12,250,284 UK£72.9m 4.97% 0.23%
1.65%
First Eagle Investment Management, LLC 12,189,257 UK£72.5m -1.08% 0.12%
1.34%
Capital Research and Management Company 9,864,356 UK£58.7m 0.29% no data
1.32%
Van Eck Associates Corporation 9,744,425 UK£58.0m 5.88% 0.08%
1.07%
The Vanguard Group, Inc. 7,901,839 UK£47.0m 0.58% no data
0.73%
Wellington Management Group LLP 5,368,663 UK£31.9m 34.3% 0.01%
0.72%
Baker Steel Capital Managers LLP 5,336,876 UK£31.8m 17% 3.46%
0.64%
Fourth Sail Capital LP 4,731,704 UK£28.2m -11.3% 8.41%
0.62%
Mirae Asset Global Investments Co., Ltd. 4,602,201 UK£27.4m 0% 0.03%
0.62%
Brookfield Corporation 4,591,369 UK£27.3m 3.13% 0.09%
0.61%
Norges Bank Investment Management 4,517,319 UK£26.9m 2.24% no data
0.5%
azValor Asset Management SGIIC, S.A.U. 3,696,838 UK£22.0m 7.27% 1.07%
0.37%
Tidal Investments LLC 2,753,097 UK£16.4m 0% 0.34%
0.32%
Merseyside Pension Fund 2,337,664 UK£13.9m 7.65% 3.84%
0.31%
UBS Asset Management AG 2,282,689 UK£13.6m 0.49% no data
0.27%
Legal & General Investment Management Limited 2,023,366 UK£12.0m -6.6% no data
0.23%
HSBC Global Asset Management (UK) Limited 1,682,695 UK£10.0m -4.13% 0.01%
0.21%
Russell Investment Management, LLC 1,519,085 UK£9.0m -8.91% 0.01%
0.19%
Barclays Bank PLC, Wealth and Investment Management Division 1,423,647 UK£8.5m -5% 0.09%
0.18%
HBOS Investment Fund Managers Limited 1,338,180 UK£8.0m 4.04% 0.07%
0.18%
Barclays Bank PLC, Securities Investments 1,300,603 UK£7.7m 59% 0.01%
0.18%
DZ Bank AG, Asset Management Arm 1,296,157 UK£7.7m 6.37% 0.1%
"I do wonder why the Fres 75% owners don’t just buy out the rest of it and take it private. At this price they can get it for peanuts & enjoy the silver squeeze themselves."
Presumably because they don't think it's undervalued at 600p (trading at c20x earnings), or believe in the perennial silver squeeze?
The company knows the best ore grades have gone, hence every trading update contains the phrase "due to lower ore grades".
Can be a good share to trade short or long. As for investing poor divi. Gold and silver bull run may continue for the short term but when they turn this will be back in the 4 pounds. A lot better companies out their than this one prob two thirds of the market to make a better return
Within the silver mining sector existing P/E Is disregarded as a measure of potential future SP upside as investors within the sector understand and recognise that it has an inverse correlation as silver miners start to move.
Many silver miners were loss making last year, some running multi-year losses, especially those who have been bringing in new mines. Even some of the biggest players considered as Cornerstone holdings within a silver miners Portfolio.
Prior to Pan American Silver corp 10 x bagging, they were sat on a number silver deposits that were simply uneconomical to mine .
However as the price of silver rose dramatically increased the value of their underlying assets where previously zero value had been ascribed they found themselves with project NPV's that moved from zero to billions.
See a lot of investors from the O&G space misunderstanding the inverse correlation of P/E within this sector.
Easy mistake to make.
Or equally because they enjoy certain benefits that come with having the business listed on the UK exchange.
Not to mention that the family in question are extraordinarily rich. I think I am right in saying that their holding in this name is by no means even the largest of their assets. Look them up. Interesting reading. GLA.
"Within the silver mining sector existing P/E Is disregarded as a measure of potential future SP upside as investors within the sector understand and recognise that it has an inverse correlation as silver miners start to move."
It's funny you say that, as the most successful silver miner investors wouldn't have touched the sector with a barge pole until this year...When everything from Barrick and Newmont to First Majestic and Fresnillo dropped below even March 2020 lows!
When is fres going to move above 600p lol even with gold touching 2400 and solver almost 30usd this old dinosaur doesn't want to move above 600p
DK, according to my methodical calculations, FRES will hit 650p again after a decade of sustained gold and silver prices above $5000/oz and $100/oz respectively. But this is on a very conservative basis 😁
Why not take FRES private? Well what if TSLA went private at $420 pre the stock split. Then it would never have become a trillion dollar mkt cap.
Silver breaks $30 and FRES rallies 4% in a few minutes. now imagine FRES with silver at $50. it will be worth way more as a public company.