Ryan Mee, CEO of Fulcrum Metals, reviews FY23 and progress on the Gold Tailings Hub in Canada. Watch the video here.
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Outlook Macroeconomic uncertainty has increased in recent months although no significant deterioration has been experienced in GKN's order books. In Automotive, Driveline and Sinter Metals are expected to continue to deliver similar levels of underlying improvement over 2010 to that achieved in the third quarter, with trading in Hoeganaes continuing to improve. Land Systems sales are expected to be at similar levels to the third quarter. Aerospace is expected to continue its growth phase in the fourth quarter as activity levels increase on civil programmes. The Stromag and Getrag Driveline Products acquisitions are likely to have a small positive impact on fourth quarter profits. On the basis of current market conditions, we therefore expect the Group to continue to perform strongly through the fourth quarter. Overall we continue to expect 2011 to be a year of strong progress, with the Group well positioned for growth in 2012 and beyond.
Overview Market conditions have been broadly as expected at the time of GKN's Half Year Results announcement in August, notwithstanding a worsening macroeconomic outlook. Performance has remained strong through the seasonally weaker third quarter and order books support further progress in the fourth quarter. The acquisition of Stromag was completed on 5 September and the first month's trading was in line with our plan. The acquisition of Getrag Driveline Products was completed on 30 September. The Hoeganaes Gallatin plant returned to normal operations in September although pre-incident levels of output and profitability are currently planned for January 2012 as customer demand is fully restored. Remedial plant activities and external powder supply were extended from the original plan and the one-off charge to profits has now been finalised at £34 million, of which the remaining £11 million was charged in the third quarter. Insurance recovery discussions are underway.
http://www.investegate.co.uk/Article.aspx?id=201110190700134038Q
Great to see some momentum behind GKN today... at long last. As Guzbod says, this is a rock solid company with a terrific long-term order book, particularly its aerospace division. It's been a tough six weeks or so but I'm happy to hold through the troubles.
I bought GKN as my first share in March 2010 for 105 and sold in Aug 2010 for 185. This is a great company and a world leader. If the brown stuff hits the fan again then like firemac I will be buying these. Good divi, FTSE plus world class company - nobrainer! GLA
I fully understand why you not wanting to see 150p as you probably brought in at a higher price and to be honest I don’t want to see the market fall any further as that would mean me losing money on my other stocks but you have to have a plan B. What do you make of this ?? http://www.youtube.com/watch?v=lqN3amj6AcE&feature=share
Whilst I sincerely hope they don't, you'll be getting yourself a real bargain if they do. The fundamentals are absolutely rock solid with GKN, it's just a matter of time before the sp recovers from these recent falls. I'm going to try and free up some cash to average down as I definitely see this as a long-term play and at these levels it's criminally cheap.
if these dip below 150p I'm in. GL
Saw this too, it's baffling as to why this hasn't recovered the losses from a few weeks ago when the macro market issues were dragging everyone down. The tipsters are all over GKN yet it languishes below 200p still?!
Midas buy recommendation: http://www.dailymail.co.uk/money/investing/article-2035972/MIDAS-Remedial-action-sees-GKN-firing-cylinders.html
RBC Capital Markets downgrades GKN from outperform to sector performer, target price cut from 230p to 200p.
Looks like this could be rangebound for a while:- buy at 180 sell at 200. but who knows, anything could happen next.
196.60 - 197.00p
Hmmm... sp seems to suggest not, which is annoying. Anyone have the live price? Need this to get above 200 and stay above 200
Huge volume today 97M shares including a large uncrossing trade at the end of the day. Not sure what it all means but hope it's good news.
202.00p
202.6 - 202.7 live price - should see us close above 200p
We're back above 200p once again!! Great to see this heading back to where it should be. Wishing I topped up further at 180p.
The euro zone is a train crash waiting to happen so although these look rather cheap at the minute thing could change in a instant and things will get ugly.
That now matches most of the major investment banks who all have buy recommendations on GKN. Tempted to sell elsewhere and top up here below 200p before this gets back up towards 240p, which it will. Just a matter of time.
Nomura upgrades GKN from reduce to buy, target price raised from 225p to 240p.
Nice to see this rising at last, hopefully we can break the 200p barrier and then push on from there. Still maintain that this is massively undervalued given the underlying business and predicted growth.
Very clever ;)
GKN transmissions! Couldn't resist it.
Markets down but this is up. What's driving it?