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gwm: paf, poly, cey.
G-NBC - Yes at last they are all starting to fall in line with their re-ratings and SP is well overdue for an 'overhaul' especially with the new mine now well into production.
JPMORGAN RAISES POLYMETAL PRICE TARGET TO 1,650 (1,600) PENCE - 'OVERWEIGHT'
Gavster-NBC > Agree anything below £20 is a bargain its current dividend yield is 7.67 % and growing at 20%.
Sasa43 > ATYM is looking very promising indeed the CEO seems very focused on overdelivering which both Poly and Atym have in common. Together they are a balanced portfolio play on the Gold/Silver & Copper markets. IMO DYOR
MORGAN STANLEY RAISES POLYMETAL TO 'OVERWEIGHT' (EQUAL-WEIGHT) PRICE TARGET 1,650 (1,400) PENCE
Glad to be accompanied by some II's in being overweight now.
IMO POLY is underperforming when considering gold price in US$/GBP/RUB, USD/RUB rate and the GBP/RUB rate.
Hi gwm - while we're waiting for POLY to spring back to life, you might want to have a look at Atalaya Mining (ATYM) - the Spanish copper miner which has just paid a maiden divd of 29p ps.
Not a pm, of course but a crucial base metal producer in the EV / 'green' revolution with the shs now yielding just over 7% - just an idea - sasa.
older and
well diversified mix of high yielding pm...
care to spill please
IMO this is just sentiment towards gold mining, everywhere. The market doesn't believe gold will remain high priced, especially in Rubles. My other gold miners are all struggling despite making money hand over fist right now. This is another instance when a correction will happen swiftly to a sector as and when the market catches up, and gold keep's it's value high. It will be a moment most of us will not predict but surely be before reporting season is upon us. Poly reports in end of Jan, and the SP will climb out of the doldrums if there is the likely hood of another high yielding dividend.
I disagree about POLY being marked down due to it's Russian nature. If this were true then Evraz, for example would also be at a discount to equivalent western value, but that's not the case.
The dividend comment was due to POLY announcing an extra dividend in Jan 2020, after things were going well. Gold at the time had risen from $1400 to $1550 (or in Russian 90k to 100k compared to the last 6 months averaging around 130k, the last peak when gold went from 130k to 140k).
Dibs, I have the same concerns myself. There is sovereign risk in all these "exotic" investments. See Peru 2 weeks back, for instance. That's why I hold a diversified geographical mix of high yielding PMs in my portfolio, but will probably add on the eve of this well-telegraphed invasion, when the sp might reach its nadir.
I don’t agree as all PMs have been acting broadly similar (outside of own RNS).
I'm no fan of the current administration but saw Trump mouthing off about his opposition to Nord Stream 2. 6th letter of the alphabet, right off Donald ! The US plan was to send tankers to supply Europe all in their own interest and lo and behold just recently liquid gas was diverted to the East in the recent cold snap following the highest bid. The US would leave us picking up firewood in the woods. It's time to know when a friend is not a friend, friends !
Yes threaten to sanction conversion of Rubles to dollars and ram home the message the dollar is not only a weapon but it's in flagrant breach of why it became the reserve currency in the first place. It's now a total maverick of a fiat currency. And the East will continue to make their plans to circumnavigate the dollar so as not to be held hostage. THE USA really is something is it not ? And not in a good way !
I know PM’s are currently unloved and POLY in particular has underperformed. No doubt this is partly due to the Russian effect and possibly the geopolitical tensions over Ukraine? USA has threatened severe sanctions if Russia invades Ukraine. Those sanctions might include the ability to convert rubles to dollars. What do others think? Not a deramp - looking for genuine balanced debate.
Oh- not from me Bananaman2.
Cheers
SteveJones999. I'm interested in your 'extra dividend' comment in January. Is this a fact ? Where have you seen this ?
Often, alas, what should happen and what does happen are entirely different, especially in the short term- this is especially true is what is considered a generally toppy market at the moment especially in the US.
I agree that PMs seem low and have been unloved pretty much all year.
A small interest rate rise next year should not spook the markets if job creation is still stong .
Poly shares do look undervalued and perhaps it will take a trading update or a hike in dividends to fire it up.
Not much evidence of the US reducing its money printing / quantitative easing yet, according to this graph. Last stated figure US$2 Trillion new dollars in October.
https://tradingeconomics.com/united-states/money-supply-m1
PS: Click on the 5 year graph if you want to see the enormity of the recent increase.
The US debt was near impossible to pay back two years ago. Now it is looks completely out of reach imo.
https://www.pgpf.org/national-debt-clock
Federal Reserve Chairman Jerome Powell said on Tuesday that the United States central bank will consider acting more quickly to dial back its ultra-low interest rate policies to counter higher inflation, which Powell acknowledged will likely persist well into next year.
The Fed is currently reducing its monthly bond purchases, which are intended to lower longer-term borrowing costs, at a pace that would end those purchases in June. But Powell made clear that Fed officials will discuss paring those purchases more quickly when it next meets in mid-December.
Sector unloved-
Even the price of gold is out pacing POLY for the last 8/9 Months !!
Since March 2021 POLY Down 10%, Gold UP 7% in GBP !
POLY SP in Mid March 2021 : 1500p
Gold Price Mid March 2021 : 1735 US$ or £1250
Gold Price Today : 1786 US$ or £1341
Poly looking undervalued by 15% surely.
Costs per ounce has gone up drastically, production down. Not as far as we know.
Another extra dividend due in Jan. Russian metals Tax.
Scratching my head on this, anyone ?