focusIR May 2024 Investor Webinar: Blue Whale, Kavango, Taseko Mines & CQS Natural Resources. Catch up with the webinar here.
London South East prides itself on its community spirit, and in order to keep the chat section problem free, we ask all members to follow these simple rules. In these rules, we refer to ourselves as "we", "us", "our". The user of the website is referred to as "you" and "your".
By posting on our share chat boards you are agreeing to the following:
The IP address of all posts is recorded to aid in enforcing these conditions. As a user you agree to any information you have entered being stored in a database. You agree that we have the right to remove, edit, move or close any topic or board at any time should we see fit. You agree that we have the right to remove any post without notice. You agree that we have the right to suspend your account without notice.
Please note some users may not behave properly and may post content that is misleading, untrue or offensive.
It is not possible for us to fully monitor all content all of the time but where we have actually received notice of any content that is potentially misleading, untrue, offensive, unlawful, infringes third party rights or is potentially in breach of these terms and conditions, then we will review such content, decide whether to remove it from this website and act accordingly.
Premium Members are members that have a premium subscription with London South East. You can subscribe here.
London South East does not endorse such members, and posts should not be construed as advice and represent the opinions of the authors, not those of London South East Ltd, or its affiliates.
Expecting it to trade towards £3 and above as the expectionation firm.
By the way I don't think that it was Benjamin Franklin who said 'nurses'.
And in my day nurses
"Nothing is certain in the world"
Benjamin Franklin would seem to disagree wit you Stumpy.
He is credited with saying 'Nothing is certain but death and taxes'.
Having said that I did sell 10,000 shares to capture the risk of downside to the 202/203 area.
Just been looking at the chart more closely and 304 or above looks quite likely in the absence of news (either company or sector specific or just a shock to the general markets)
Sharecast News) - Berenberg upgraded Hunting on Thursday to 'buy' from 'hold' as it pointed to an attractive valuation and strong international sales.
The bank, which upped its price target to 345p from 325p, said the pullback in the shares since March is overdone, with the stock now trading on FY 2023/24 EV/EBITDA of 4.4x/4x respectively, well below historical averages.
"This attractive valuation, along with strong international sales and the positive working capital messaging, underpins our upgrade to buy," it said.
Berenberg noted that Hunting released a positive first-half trading update on 6 July, in which it raised its 2023 EBITDA guidance and issued 2024 guidance significantly above consensus.
"Robust sales from its North American segment into South America helped drive the upgrade, along with recent order wins in AsiaPacific (APAC)," it said. "This helps to underpin visibility into 2024 and further builds the backlog, up circa 14% since 2022."
The bank said its downgrade to 'hold' in March was driven by a falling US rig count that has continued to soften, down 99 rigs year-to-date to 680.
"Despite this, the Titan division is expected to report stable operating profits during H1 and the latest version of the company's perforating gun (the H-4) is expected to support revenue and margins when released in H2," it said.
"The company expects its balance sheet to move into a marginal net-cash position by end-2023 as working capital balances begin to unwind as large projects complete."
At 1005 BST, the shares were up 4% at 271p.
A beautiful thing picking these shares up around 200 a few weeks ago
Been riding this up from sub £2 and lightening up with the rises to create a low average cost LT holding and the opportunity to rebuy lower if that happens.
Shares to not go one way up or down so add trim is what I prefer to do until the average cost is crazy low.
HTG firing well and expect £3+++ at some point as it moves quickly.
Not a recommendation of course but when it works it really works.
GL all.
MSM, so far I'm wrong this time round and very happy to be wrong as I retain the bulk of my positions. Still worth being aware of the downside risk. If there was a turn, the areas I highlighted remain worth considering, but I think now we'd need some negative news company specific (a rush to expand; ie a need for more cash? No idea, but something) or a big change in the their market. Clearly this mornings announcement has been well received. Worth looking at CCL, that doubled over a small number of weeks and looked unstoppable. It's currently easing off with no company specific news, just the general realisation that the pent up demand is still not leading to profit and without profit, they will struggle at some point. Nothing is certain in the world, but so far I'm wrong. I had hoped to get the drop to clear up what I view as a technical risk, before buying back again. Don't lose track of that downside gap.
Collaboration Agreement with CRA-Tubulars BV
Hunting PLC (LSE:HTG), the global engineering group, today announces that it has entered into a collaboration agreement with CRA-Tubulars BV ("CRA") to develop mutual energy transition market opportunities in North America.
Buy tip for Hunting today
Broker upgrade - Barclays - Overweight - new target £4.20.
So currently trading at over 60% discount according to barclays. Now I will always take broker updates with a pinch of salt... But no doubt the tide has turned here. £3 soon.
Excited to see what is next in the recovery.... hold4gold
From 5th Jun
I read this as positive and reinforcement of the move on the news of the Major OCTG contract and it will revisit the 236 level that it failed to hold and move upwards once through resistance.
Of course a market correction and down days will affect share prices in every company but going from £3.60 to £2 in short order left plenty of gaps on the upside.
Stupmy... Looking good so far. Imo I think this is the start of the recovery. But you was spot on last time so I won't rule it out... But I'm not looking to sell or add. Hold from here on.
MSM, I fear we'll head back to 201 or lower. I dropped 40% of my leveraged positions at a reasonable profit and that was not easy. It's an illiquid share. I did in fact open this morning hoping to sneak in before the SP rose, no luck there of course. I'll wait now and if we get a retrace I'll be looking to add back.
First class rise today when you take into account the wider market falls. Had today been an up day generally we could have seen +30% here.
A rare thing, I am actually in profit :)
Up over 18%. That's more like it. Needs to hold these gains this time.
Touché
Yes. Pleased with that. Added a few more recently myself, taking my cue from Schroders increasing their stake recently. Glad I did. Nice rise this morning but will be interesting to see where the SP settles.
Good solid update. Doubts over cash flow which may have caused initial decline surely now gone.
CMD to come. This SP is ridiculously low. £3 minimum short term. This will be closer £4 by end of calendar year imo
Glad I have been adding.
RNS this morning. You'd imagine that it would cause a rerate in the SP, but I guess we'll have to wait and see on that one.
It showed some weakness again when the baker hughes rig count came out with 6 fewer rigs. Maybe part of the reason.
Likewise MSM, been adding anything around 200p. Scooped up 120,000 shares in the last few weeks. Once this seller clears it moves, and cherry on cake is another O&G services company thinks this is too cheap down here for the tech they hold.