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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Has anyone calculated an estimate half year EPS based on the information provided in this morning’s trading update?
I think the buybacks would resonate more if the bought-back shares were cancelled. What if they relaunch 30 million of them again at £10 a share or something?
P/E of 6 for this year , with huge cash pile and expansion into new markets - what more do investors want?
Market not appreciating the good news here so I have bought another £3k!
Buy backs should go back to 30k approx a day I agree. However, the main point is that these q2 figures are really reassuring. They have been achieved notwithstanding slight losses on customer trading whereas q1 figures were heavily dependent upon customer trading. It does look as if an eps for the year of around 190p can be achieved, in line with consensus, and crucially without much customer trading profit. With the big amount of cash and big long term opportunities that makes the pe look awfully low.
Hopefully the dividends per share will increase as we have bought back over 10& of our shares over the first 6 months so the cost of the dividends to Plus would be lower than the comparatative ,if the Interim remains unchanged.Presumably following the forthcoming meeting the buy backs will revert to 30+ shares per day from around 10k
But will increase again shortly according to todays release. The Crazy thing here is that the huge cash pile is equal to around 50% of the mcap making the shares dirt cheap. Hopefully an upward rerate will take place when that sinkd in.
If anyone forgot as it was so long ago the dividend should be paid next week on the 11th, although it is often a day or two late as the currency has to be converted into pounds. Rather annoyingly the Pound has appreciated 6.8% against the Dollar in the time from ex to payment. It's a pity the payment cannot be made sooner after ex div.
A trading update should be published soon & trading remains on track with market expectations & our US division is beginning to win market share .I was fortunate enough to buy shortly after the IPO at around 130p & I sold out completely at a decent profit & bought back in around 500p - so my only regret is not being greedier & buying more.We are viewed by The Market with suspicion & the worry is that some adverse news could emerge , or trading is below expectation,in which case we will be hammered-especially in these poor markets
Sorry if I irritated you there.
I don't think I suggested that this was not a money spinner in the past or can't be again in the future.
I was not lucky enough to buy PLUS on it's market debut so have not enjoyed those fantastic returns you quote, however my capital gain is 95% and total return is 159% so I think I'm doing ok.
The dividend witholding tax is a pain and I agree that buybacks are more tax efficient in that respect. If the BOD want to go down the path of lower dividends and more buybacks then fine, but the share price has to grow to compensate and this is where the undervalued share price is a frustration.
Holding these shares can be a real rollercoaster of a ride and have seen some significant rises and falls in very short spaces of time. The shares touched £20 in 2018 before a 75% decline due to number of reasons so as ever timing is vital.
i'll help you understand because i am nice and you are poorly informed.
cash dividends:
2013: 13.5p
2019: 51.5p
2020: 110.8p + 20.4p special
2021: 71.4p + 16.6p special
2022: 72.7p + 8.9p special
this excludes huge buybacks in recent years, which by the way are buying back a great portion of cash on the balance sheet and are a tax efficient method of returning value to shareholders if you are above the 20% income tax threshold, which i guess you might not be.
further information is here: https://investors.plus500.com/shareholder/dividends
the ten year total return of plus is 2803% (1081% in price change, and almost three times that in total return).
presumably you understand the concept of "total return". look into it.
for you to suggest this stock hasn't been a huge money spinner and continues to reward shareholders with hefty total returns is ignorant verging on ******ed. if you don't know what you are talking about please try to be more humble in your posts and someone might help you understand nicely rather than be irritated.
The current dividend yield is not good. If you look at the dividend history on dividenddata the last final was the lowest since 2013 (the very first one since coming on the market) The special was also the lowest in history 10.78 cents.
It's clear the BOD want to put more dividend money into buy backs but it has not stopped the rot in the share price. For all of the years I have owned this share it has been 'cheap' based on it's earnings but it rarely achieves even a fair rating. I see no catalyst for this to change.
Trading update due soon should give us a few clues & I hope that our nascent businesses in the US & Japan are beginning to gain traction
I'm not sure why this is bothering you - please explain. As I see it we have a really good dividend yield as it is (around 5%) and regular share buyback programmes to the extent that £114m was repurchased last year and a further £172m so far this year, which combined is a huge quantity of the outstanding shares. What's the issue? The share price has been weakening despite these huge repurchases, that firstly indicate management confidence in the future but secondly increasingly concentrate returns in fewer hands. What 's not to like here? If I were you I'd be buying more and worrying about when fair value will be realised to someone else - this will come in good time meanwhile we all have the opportunity to load up on more.
Not sure why - the odey purchase is unrelated to buyback mandate. If they've decided that 80million shares is where they're comfortable perhaps they could save the money and divi it out to shareholders?
In my view it's nothing to do with trading, it's the noise with Odey. Odey didn't sell all of their stake because Plus500 is their highest conviction holding so they wanted to retain a significant position in proportion to funds remaining, which includes hefty personal investment in their own funds.
If they wanted to sell all of the stake Plus500 would have taken it. That they didn't says something.
This is a fabulous opportunity IMO.
There's a weakness in the share price.............despite trading conditions that traditionally favour Plus500's performance (massive volatility = good for Plus). Is this the Odey overhang..........or does someone else know more than I do about what's going on. I honestly though this would kick on this year...........instead it's that £20 share price cliff hanger again.........hit £19.99 and then drop like a stone.................
Dirt cheap, cheaper even than a mid cap E&P co but is actually a good business that makes more money when there is volatility in markets and should sustain this cash flow for years to come. Good chance of breaking into the US options market too. Their tech platform has proven itself over many years. I'm happy for more buybacks to a point and then I would like more in dividends for income.
EGM Monday 24th July.
Yep that was a fast and shrewd bit of business.
Odey holdings causing trouble in the market for some.
Bought more today. I thought the stock was cheap at 1900p a couple of months ago. We're at 1500p today but with 8% fewer shares. Bargain, especially for a company that typically does well in volatility when everything else is going down.
Surprised no comment as yet on this as eps key to the valuation. The number of shares has dropped by 8 per cent so ex the interest cost on 101 million pounds eps has indefinitely been enhanced 8 per cent. The interest cost of 101 million pounds is probably close to 2 per cent of consensus pre tax
profits. Hence an uplift in eps of about 6 per cent.
PLUS were able to quickly capitalise on a distress sale by ODEY. Buying back shares already already increasing the share price by 8%. this doesnt sound like a bad thing to me.
The problem is that the directors may take the treasury shares as bonuses etc despite unhappiness by the shareholders regarding the companies incentive arrangements
Treasury shares do not have voting rights or qualify for dividends . The good news is with 8% of the floating shares removed from circulation the dividend when announced next will be divided into a smaller amount of shares boosting the payment. The bad news is that the BOD being tightwads with the last dividend might just reduce it by 8% to compensate.
They must have some plan of what to with all these treasury shares and for all the relentless buybacks the share price has still performed very poorly in the last three months, so I am yet to be convinced by the merits of buybacks.