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Been following HAT for a while and bought in at around 330. can't understand why the shares have dropped since the final results which to me seemed overall positive. Am I missing something huge here or are shares extremely cheap with a lop p/e and reasonably high growth? Help is much appreciated!
From **************: Friday 9th March 2012 Competition The UK-Analyst Friday Competition is back. This week's prize is a copy of Triumph of the City by Edward Glaeser (RRP25.00). For a chance of winning send us your funniest caption for the picture below. Email richard.gill@t1ps.com by 9am on Monday morning. The Markets Strong US payroll figures boosted global sentiment on Friday, helping equity markets to rise for a third consecutive day. 227,000 workers were added to company payrolls in February, 17,000 higher than the median estimate, with the December and January figures both being revised upwards. A successful Greek debt swap also encouraged buyers to move back into the market, moving the country just inches away from securing its second bailout package. At the London close the Dow Jones was up by 36.97 points at 12,944.91 and the Nasdaq was up by 10.52 points at 2,647.70. In London the FTSE 100 rose by 26.76 points to 5,887.49; the FTSE 250 finished 69.60 points ahead at 11,527.96; the FTSE All-Share gained 18.31 points to 3,057.70; and the FTSE AIM Index grew by 5.43 points to 810.75. Broker Notes Singer Capital reiterated its "buy" rating for St. Ives (SIV) with an increased target price of 129p, from 126p. The printing company has made rapid development in the marketing sector,and the broker expects it to account for 32% of EBIT by 2013, from just 2.1% in 2011. Additionally, Singer noted that the book printing business is outperforming the market, while the remaining divisions have been reorganised and should be profitable from now on. The broker pointed to a low earnings ratio for the year ending July 2012 of just 5.7 times and a dividend of 6.6%. Shares in St. Ives lost 0.75p to 81.25p. WH Ireland initiated coverage on Falkland Islands Holdings (FKL) with with a "buy" recommendation and 457p target price. The broker said that the conglomerate's three main businesses of retail, ferry service and art storage & installation are undervalued on a sum of the parts basis and are also market leaders in their respective industries. WH Ireland added that the firm's 4% stake in exploration company Falkland Oil & Gas offers a defensive investment in the hydrocarbon sector. The shares were unchanged at 387p. ADVERTISEMENT Latest small cap tip out now on WatsHot.com Get two new meticulously-researched small cap tips each month Plus frequent updates and a daily column from editor James Faulkner Just £73 for a year's membership by direct debit (£87.60 by card/cheque/Paypal) Click here to join WatsHot.com now Shore Capital kept its "buy" recommendation for H&T (HAT) as the pawnbroker continued its expansion programme, opening 25 new stores over the year ended 31st December 2011, brining the total to 160. Shore also noted the growing demand for the company's services, with its pledge book growing 18% to 46.6 mi
Very healthy EPS reported above expectation. I did like the fact that HAT's reliance on GOLD is reducing and this will only increase over time. Divi increase should attract some support, not surprised to see a drop...... lots of small 'signal' trades back end .. dunno what the message is though. Suspect I will need to wait for a couple of weeks until the SP settles before adding. I do think that £4 is achievable though might take more than a few weeks. All in all very satisfied with the statement today and could not see any negatives.
Just taken a quick look at reults and they seem pretty good to me. Will look in more detail tonight but all seems pretty good. Any thoughts Tom? Will that share nudge 400p in the coming weeks?
Agreed on EPS being north of 40p... I have penciled in 44.5p based on first half and POG / all areas continued growth second half. I usualy prepare myself as a holder for the 'sell on news brigade'. This time and given the ABM price / HAT PE I suspect that £3.50 + is possible on results day and we should (subject to no surprises) see a steady rise moving forward.
Been following this company for a few years and have bought and sold the shares a few times too. Results due March 8th and expected to be at the top end of forecasts, eps over 40p. If that's the case, then sp should move up to around 400p. Bought a few more at 340p. GLA
Following its recent strong share price move, Brewin Dolphin downgraded H&T Group (HAT) from "buy" to "add" with a 420p target price. The pawnbroker expects to beat full year market forecasts, which Brewin attributes to high levels of customers buying gold. The broker adds that while this is susceptible to a number of risks, none have materialised. Brewin expects the company to open new stores and see further growth in its pledge book, which stands at over 45 million pounds.
See that the SP is starting to rise in line with ABM. House broker has a target of £4.15. Looking forward to the results early March.
John Nichols, Chief Executive, commented: "We are delighted to report another excellent set of results, with profit before tax of £10.3m for the first six months of 2011. Trading has been especially strong in the Group's core pawnbroking operations with year on year increases in the key performance indicators of both lending and redemption. As a result, the gross pledge book has risen to £41.2m as at 30 June 2011 and the Group has delivered a 14% increase in its key revenue stream, the Pawn Service Charge. "Performance of the stores added in recent years continues to be excellent and supports the Board's view of the growth potential they offer. We have opened 15 new stores year to date, including the achievement of a significant milestone for the Group with the recent opening of our 150th store. In addition the Group currently has 45 Gold Bar retail mall units. "The outlook remains positive and on the basis of the current gold price we are pleased to announce our expectation for full year results to be above the top end of current market forecasts. The Board has approved an interim dividend of 3.75 pence, which itself represents compound growth of 23% per annum since flotation."
Yes -not too bad at all http://www.investegate.co.uk/Article.aspx?id=201108230700128278M
Superb ......... like the statement @ the end .......... The outlook for the Group continues to be positive. For the current financial year, the Board believes that the overall trading performance will result in full year profits being above the top end of current market expectations. Looking further forward, the Group still holds excellent prospects for organic growth in pawnbroking as the store estate is still relatively immature.....
H&T (HAT) retained is "buy" rating from Arbuthnot Securities, with a 400p target price, ahead of its interim results announcement on 23rd August. Pawnbroking is one of the few markets that is thriving in the economic downturn, notes the broker, and with the price of gold continuing to rise, profits from gold-buying and scrapping are likely to be higher that previously expected. Arbuthnot notes that the company has historically performed well over the second half of the year and, with market conditions relatively unchanged, expects this trend to continue
positive RNS indeed
Trading Update H&T Group plc ("H&T" or "the Group") has traded strongly in the first five months of the current financial year. Accordingly, the Board expects strong first half results and to deliver full-year profit before taxation above the top end of current market expectations, despite the costs of the continuing new store expansion programme, with 10 new stores having opened so far this year. Strong like-for-like lending, driven predominantly by the continued rise in the gold price supporting an increased average loan, and a marginal improvement in redemption has contributed to the Group's core income stream, the Pawn Service Charge, exceeding Board expectations. In addition, the Group has experienced a good performance from its recent store openings with the pledge book build being better than expected. Gold purchasing profits have also remained strong and the Board expects that profits and margins for H1 11 from this segment to be broadly in line with H2 10. H&T expects to report its interim results for the six months to 30 June 2011 on 23 August 2011.
http://www.investegate.co.uk/Article.aspx?id=201106170700106069I
Arbuthnot maintained its "buy" recommendation for H&T Group (HAT) with a 400p target price. The broker notes that the pawnbroker has been able to use the "supernormal" profits from gold-purchasing to fund aggressive store-opening programmes, and said the full benefits of which should come through in the next two to three years. With stores still being readily sourced at good rents due to little competition on the high street, and "austerity Britain" set to continue for the foreseeable future, Arbuthnot believes that the firm will continue to deliver good results. H&T shares declined 7p to 315p.
Brewin Dolphin issued a "buy" rating for pawnbroker H&T Group (HAT) with a reduced target price of 400p, down from 450p. The broker notes the group's "strong" preliminary result last week with profit up 40% to 26.3 million pounds and net debt closing at 27 million pounds, 3.3 million pounds better than forecast. With that said, although profit growth is expected to be postponed by a year after accelerating the roll out of new stores, Brewin believes this is the right move.
John Nichols, chief executive of H&T Group, commented: "I am pleased to report a strong year for H&T with continued profit growth and excellent cashflow generation. A final dividend of 6.0p is proposed, taking the full-year dividend to 9.5p, a 17% increase on 2009. Profit before tax increased by 38% to £25.5m, supported by growth across all business segments and a strengthening gold price. The Group experienced strong lending and underlying pledge book growth during 2010. Continued success in the gold purchasing market and high disposition margins in both purchasing and pawnbroking activities have also led to a substantial cash generation. Net debt of £27.0m compares to £42.3m twelve months ago. Current trading continues to perform in line with market expectations and I am pleased to announce that H&T is the UK's first pawnbroker to secure a pledge book of over £40m. We also continue to successfully implement our growth strategy, with provisional lease terms currently
http://www.investegate.co.uk/Article.aspx?id=201103100700086587C
Gold buying propels H&T profit Date: Thursday 10 Mar 2011 LONDON (ShareCast) - Gold trading profits have helped the UK’s leading pawnbroker H&T produce bumper figures in 2010 but it will be difficult to repeat that outcome in 2011. Revenue increased from £84m to £126.4m in 2010. Gross profit rose by 30% to £66.8m, while underlying pre-tax profit jumped from £18.5m to £26.3m. Gold buying contributed a gross profit of £20.1m, up from £13.5m in 2009. H&T decribes £4.9m of this gross profit as ‘one-off’. Pawnbroking and cheque cashing’s direct contributions grew more modestly but there was a large increase in the contribution from the scrapping of pledged items that have been forfeited, although more than one-half of the contribution is ‘one-off’. These profits are helping to finance the store opening programme – H&T wants to double the number of stores that it operates. There were 135 stores at the end of 2010, up 13 on the year. Up to 20 stores will be opened this year. Net debt declined from £42.3m to £27m over the year. There are also 45 Gold bar retail mall units but that figure has fallen from 54 at the end of 2009. The pawnbroking side’s lending levels hit a record in 2010. AIM-quoted H&T’s pledge book has moved above £40m since the start of 2011. FinnCap forecasts a pre-tax profit of £14m in 2011, which is lower than the 2009 figure, which also benefited from gold trading profits but to a lesser extent than 2010 Peel Hunt is more optimistic but still expects a decline to £15.4m. The shares are trading on around 12 times estimated 2011 earnings. Profit estimates for 2010 were initially cautious and there is room for upgrades if gold trading is stronger than expected. The progressive dividend policy is expected to continue. H&T paid a total of 8.5p a share for 2010 and the total dividend could rise to between 9p a share and 10p a share.
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Thank you kndly good luck for today!!!!
EPS - Earnings Per Share should be above 50p for the full year, of this the dividend will be circa 10p (my estimate). Given you could buy these for £2.80 last week not bad.. (1,600 all I managed at this rate though). The results will be announced @ 7am and an analyst presentation @ Numis for 9.30am. Off to bed with me horlicks.. fingers crossed for tomorrow.
whats eps north of 50p mean mate? think results are anounced at 9.30!!