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50,000 shares bought in four tranches at 26p today. Someone building up a bit of a stake from the looks of it.
Finncap have left their forecast to March'20 unchanged at 4.7p EPS following the year end trading update (too early for forecasts to March'21 given the pandemic).
The trading update to 31/3 is probably as good as we could expect in the current pandemic. And the good news is that this has curbed acquisition activity. So perhaps HMLH will be able to work even harder to deliver all those synergies and cost savings they've been aiming for....
I assume the 0.5p dividend stands since nothing has been said about it.
Last night's late RNS shows Harwood Capital/Oryx continuing to buy.
They now own over 15%, with 6.925m shares. They've added another 538,000 shares since November's last disclosure.....
Https://www.investegate.co.uk/hml-holdings-plc--hmlh-/rns/holding-s--in-company/202002101726065442C/
A single £3k buy has just moved the price up 1p, or 3%.....
Imagine what just a little interest would achieve here.
Yet another acquisition from cash, this time for around £0.5m. Looks like one of those where the founder needs to sell out given that he's retiring after completion, so hopefully the price is an attractive one for HMLH:
Https://www.investegate.co.uk/hml-holdings-plc--hmlh-/rns/acquisition/202001080700060560Z/
"The Acquisition is in line with the Group's strategy of acquiring leasehold management businesses that can quickly be integrated into the Group and that provides further regional coverage. We are pleased to welcome all the team at LML into the HML Group."
Let's hope last night's options grants to various employees and directors - exercisable at 32p - are indicators that the Board believe it's upwards and onwards from here:
Https://www.investegate.co.uk/hml-holdings-plc--hmlh-/rns/grant-of-options---pdmr-dealing/201912101702324231W/
Finncap retain their 57p target price today.
And their forecasts of 4.7p EPS, 0.5p dividend and £2.5m adj.PBT.
I'll continue to hold, despite relatively uninspiring results today, since the value is there even if the growth is (currently) not.
With 2.1p adjusted EPS in H1 alone, the group are weathering a slowdown in the property market with only a tiny reduction in that H1 EPS.
Turnover is up nicely, but AFAICS they don't disclose how much of that is due to acquisitions and how much (if any) is organic. And the fabled delivery in systems integration is supposedly there or nearly there.
Hopefully more acquisitions will follow soon, and maybe the long-awaited renaissance will occur.
Thought you needed a little noise in the background... :)
The H1 results will hopefully be out this week (27/11 last year and 30/11 the year before).
Given the optimistic outlook in the prelims they will hopefully show decent progress.
I noticed the 5k buy this morning, so went online, which looks encouraging and hopefully indicates a buyer out there and a lack of stock.
You can sell 20,000 shares at 31.2p, whilst you can only buy a maximum 2k shares at 33p.
Good to see you here Qd22.
Thanks for the recommendation Rivaldo. Always worth looking at what you hold, and why (and noting when you sell!). Stockopedia computer also likes it. This one looks like a slow steady one, reminds me of a smoky autumn bonfire: eventually they break through.
Encouraging to see a 15k buy at 33.75p this morning - paying well above the 33p published offer price. Followed by more small buys and a couple of ticks up.
Online you could earlier only buy a tiny maximum 1k shares at 33p, so barely any stock available as I write.
Encouraging to see Chris Mills' Oryx International Growth Fund buying more shares - they had 6.275m at 12th September, and now they have 6.49m, so that's another 215,000 shares in the bag, or over 14%:
Https://www.investegate.co.uk/hml-holdings-plc--hmlh-/rns/holding-s--in-company/201911041308171855S/
Mark Watson-Mitchell likes HMLH and has a 50p target:
Https://masterinvestor.co.uk/equities/small-cap-round-up-featuring-eddie-stobart-chemring-and-futura-medical/?utm_source=Daily+Bulletin&utm_campaign=fbf1fe4796-Daily_Bulletin_20190913&utm_medium=email&utm_term=0_25eff0bb7f-fbf1fe4796-34898813
"HML Holdings (LON:HMHL)
Very gradually this property management, insurance and services group is adding to its management portfolio, by both organic and acquired growth.
Earlier this week the company acquired the business of Thornes Chartered Surveyors, which was set up 123 years ago, in a £470,000 deal. The Luton-based property management and lettings company makes a perfect fit for HML.
The HML shares, which touched 37p at their best in July this year, had eased back to my 32p February profile price, before improving to 35p on the news.
The current 33.5p is still some way off my 50p target price; however, the shares continue to look inexpensive to me."
Another presumably earnings-enhancing acquisition from cash, at one times revenue:
Https://www.investegate.co.uk/hml-holdings-plc--hmlh-/rns/hml-acquires-property-management-business/201909120700140406M/
The AGM trading statement is coming up on the 17th (5 days' time) - it should be good judging by prior outlook statements.
Https://masterinvestor.co.uk/equities/small-cap-round-up-featuring-eddie-stobart-logistics-renold-and-equals/?utm_source=Daily+Bulletin&utm_campaign=09a0fe1e8c-Daily_Bulletin_20190823&utm_medium=email&utm_term=0_25eff0bb7f-09a0fe1e8c-34898813
"HML Holdings (LON:HMLH)
This property management group’s report & accounts have just been published. Its AGM is to be held in Croydon on Tuesday 17 September.
The shares, which peaked at 36.5p in May, were profiled by me in mid-February at 32p, with a 50p target price.
The end-March 2019 results showed a profits advance from £1.46m to £1.69m, with earnings coming out at 4.6p and a dividend of 0.47p per share.
This current year estimates are suggesting that a revenue rise from £28m to £30.5m could help to push pre-tax profits up to around the £2.5m level. That would put the shares at 33.5p out on a mere 7 times current year earnings – that is cheap, so my target price remains unchanged."
RNS today - the AGM will be on 17th September. Hopefully the trading update should be very positive given the cheery outlook in the prelims:
Https://uk.advfn.com/stock-market/london/hml-HMLH/share-news/HML-Holdings-PLC-Posting-of-Report-and-Accounts-an/80567712
To reiterate, the forecast for this year is 4.7p EPS, with a 0.5p dividend. That's per Finncap, who have a 57p target.
Nice rise this morning on 12k of buys. Looking encouraging online too. You can only buy a maximum 10k shares at 35.77p, whilst you can sell 25k at a premium at 34p.
Hi silverknight. Yep, I have a lot of patience - much needed in respect of HMLH and RTC! But I suspect/hope that, as with many small caps, all of a sudden after some recognition there will be a sharp re-rating and a potential 40%-50% rise, leaving those who've been waiting for an entry point regretting their lack of action.
PTRO regularly has contract news so is a different kettle of fish, but once the apparent overhang is cleared should be similarly well placed.
We seem to have similar investment criteria. See you like Pelatro and RTC as well. All offer good value for patient investors. Just discovered this and it looks like a a sound bet.
HMLH does appeal to the contrarian/stubborn side of me. To me it appears to be accelerating its strategy with the recent £2m of acquisitions, and a 10% EPS rise to 4.6p EPS seems a pretty decent performance.
With a fair wind that "conservative" 4.7p EPS forecast should be beaten, and possibly well beaten following those acquisitions.
It would only take a little tip attention to move the price substantially given the relative illiquidity. In the meantime, there's a dividend to collect and high visibility of revenues going forward, so few sleepless nights holding this one, especially given the confidence expressed in today's outlook.
Not me - sounds like a scam, and nowt to do with HMLH.
Has anyone received a phone call from American sounding ladies purporting to be acting on behalf of an entity attempting to take over HML? Had one such call last night and another this afternoon. They claimed to have acceptances for 42% already and now looking to retail to get them over 50%. Bizarre thing is that I sold my holding here a couple of years ago. They were both very persistent resulting in me terminating the calls in a none too pleasant manner.
Cheers...Mick
Good to see 100% buys today (well, from 2 trades!).
Investors will probably as ever take their cue from one of the tipsters who've noticed HMLH in the last few months, who will hopefully update soon following these good results.
They state:
"The results were slightly ahead of expectations in virtually all respects. The business model continues to deliver consistent growth and cash generation and the group remains well positioned to benefit from any further tightening of industry legislation. We have raised our target price by 8% to 57p, implying potential share price upside of 68%."
Finncap have also introduced a 4.7p EPS forecast for this year to March'20. They say themselves that this is "conservative", especially given the 11% forecast increase in revenues and dividend.
Better to under promise and over deliver, but Finncap could have gone a little higher imo as that looks very conservative given the £2m or so of acquisitions made by HML from its own resources in the last few months.
Excellent - results are well ahead of even the recently increased expectations. 4.6p EPS compares to forecast 4.3p, revenues of £28.1m compare to forecast £27.3m and the dividend is up 12% to 0.47p.
The outlook is confident, stating "We are confident in our ability to maintain this momentum while we continue to build our network and our central support divisions."
I'm guessing Finncap may go for almost 5p EPS this year, which makes the share price pretty cheap.
It's also good to see trade receivables decreasing despite the big rise in turnover.
Investment in centralising in the business continues - neverending! - but it seems the benefits are indeed beginning to come through as the narrative suggests, with more to come.
I'd assume there will be further earnings-enhancing acquisitions from cash this year too.