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...until early September so I'm gonna just sit this one out & hope for a re-rate (upwards, LoL) Interestingly-ish... ...Schroders, who are not the house broker, have been increasing their holding to over 16% (from less than 11% at 2014 year end ) & started doing so just before the last results were announced... ....& The Bank of New York Mellon Corporation have just increased their holding to over 10% from less than 3%... ... whist in the same period Octopus dumped all of their 3.36% holding! What does it all mean ? LoL!
yes...it is a mighty difficult call: coal looks just awful (though cza and atc haven't completely been wiped out)... ..yet...yet..the business model here may just be robust enough to transition sufficiently (into contracting opps for steel industry, here and Europe for instance) ..is the management up to the challenges?
Coal: avoid... except HSP are expecting net debt down to around £25-30m and Schroders have been busy building a stake whilst the company add shares to treasury. Could this be the only decent coal play turnaround of 2015?
Apologies, Google Finance got that one wrong...according to Yahoo the all time JMB is closer to 285p...which would make more sense of your 250p... But if the anticipated Trading Update is any way half decent then we may well get a nice surprise? Best Sunny Summertime regards to you, Jolly :-)
Hi Jolly, 'Think that's an all time JMB, well played ;-)
@3.77..but reckon net net @c2.50 (DYOR) would be closer to JMB
...here yesterday at 397p...
...the last trading statement... http://www.thejournal.co.uk/business/business-news/durham-based-hargreaves-confident-despite-revenue-8660337 Dividend = 7% & divi' cover at 4.9!
Any day now?
The India Times article and news of increased coal production may be good for HSP: Hargreaves Mining India Hargreaves Mining India Pvt Ltd is a new venture created to support the growth of coal mining in India and contribute to its further success in underground and surface operations. http://www.hsgplc.co.uk/divisions/industrial-services/hargreaves-mining-india.aspx Coal production surges 11% in first 45 days of 2015-16 amid core sector misery By Vikas Dhoot, ET Bureau | 20 May, 2015 NEW DELHI: India's coal production has surged by 11% in the first 45 days of 2015-16, assuming greater significance as it comes on the back of the highest increase in output in 40 years recorded last fiscal. Core sector growth dipped to a 17-month low of -0.1% in March, but coal output rose by 6% that month. "From a scenario last year when outages were common and power plants were suffering for want of coal, all power plants in the country today have an average 20 days of coal inventory. Coal supply is no longer a problem," a top government official told ET, adding that several new mines are coming on stream as even Oppositionruled states like West Bengal are now backing coal projects. In 2014-15, Coal India produced 493 million tonnes of coal. "This marked a 32 million tonne surge in output which is more than the cumulative increase recorded in the previous four years (31 million tonnes) and the highest since 1975," the official said, adding that output has increased by 11% between April 1 and May 15 this year. More from link below: http://economictimes.indiatimes.com/industry/indl-goods/svs/metals-mining/coal-production-surges-11-in-first-45-days-of-2015-16-amid-core-sector-misery/articleshow/47349703.cms Also of interest: India’s Coal Industry: The Single Biggest Source of Energy A total of 1,199 new coal-based thermal power plants with a total installed capacity of more than 1.4 million MW proposed worldwide, the lion’s share—455 plants—are in India, according to data from the World Resources Institute. India is overwhelmingly dependent on fossil fuels—coal, oil and gas—which meet more than three fourths of the country’s energy needs, despite Modi’s plans to promotealternative energy sources. Of the fossil fuels, oil and gas account for just about 30% of India’s energy needs, the bulk imported (80% in the case of crude oil). India has abundant reserves of coal, the fourth-largest in the world. http://www.globalresearch.ca/indias-coal-industry-the-single-biggest-source-of-energy/5449946
and now the CoE is seeing the Light lol
again
No, I don't use stops, Jolly ;-)
lads?
bit much for a long buying in, no? panic shorter burnt maybe?
Oh what a lovely spike!! Spike triggered by the 4008 buy at 15:27 for 467.5557p!! http://www.google.co.uk/finance?q=LON%3AHSP&ei=nrIBVeGMG8XEwgOE-oCIBA
...Here comes the spikey spikey!
'Went down pit & picked up a ton... ... at sub 429p as a recovery play/trade... & in Solidarity wit Miners...Oh wait! LoL
but the underlying business is struggling with weak coal prices?
Might be a cull on the stops & then JMB time?
still more pain?
Is around 450... NAV is 463... Anyone getting in here for a recovery play? Best regards, Blue
Schroders now hold over 10%
based on the underlying PBT of £55m for the FY just gone by would equate to 66.3p or 10.2% at the current price. But that is based on the assumption that PBT remains flat. If it tanks then the yield may not increase much and the share price could fall making investment based on today's news a very poor one. Interesting though...