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Moving along nicely again - could hit Bazzaman's target even before results out on the 16th.
Results out on 16th June, this should head towards 140 once the results are out IMO.
WOW! some hefty buys already today. Must be some others out there who feel that results will be good (as promised by company).
yep, patience is certainly the virtue, as I have found out by selling out of several shares earlier than I should have (of course everything is easy with hindsight). As a relatively new/inexperienced investor I'm still trying to fathom how the markets seem to work. It's certainly not always how I'd expect, and it's really useful to get input from others on these forums. Cheers Dom
Try to exercise the same patience as with 32red, Dommo. Given time, like a few months, this should break 120p. Hold on for a couple of years and it should be closer to 200p. Well managed. Good product that is in demand. The only downside is the exchange rate. Seems we hold similar shares!!!
not to see this rising more steadily right now. More or less constant buying pressure so far as I can tell...
Great trading statement. Set to keep on rising!
The Board expects the results for the year to be, as a minimum, at the upper end of current market expectations. This will probably lead to a further recommendation by Investors Chronicle this afternoon.
Agreed positive See news report on GKN today
Must surely be a positive for TRIFAST? https://uk.finance.yahoo.com/news/european-car-sales-shift-nearly-081848173.html
Lol The chart I'm looking at shows a nice prompt SP recovery after the 19 March interim ex-div date.
SoniaP, when you talk about charts...are these astrological charts? Because Venus was in the ascendency in the path of Gemini, which would have rested in a dip in share price. thus triggering good buying options.
is the chart still putting you off Sonia?
I wanted to buy it as well but the chart has put me off and one other thing. Its a sector I have never liked , its dull and companies in it have to do something quite outstanding just to get a 1p rise. Thats just the way it is. And yes there are 2 very prominent higher lows but I think its best to let it play out . It could go either way.
well you stopped me buying albeit for the moment, on top of the quote that was about to charge me stamp duty (why would I be charged this ?), and the sell of 12,500 shares that they tried to disguise as a buy I thought the charts pointed to higher lows ? I could understand sentiment to the euro could offset what I see as value however goes ex-divi tomorrow too
We will know soon enough , will it bounce of .95 or as I suspect smash through it. Results are a case of sell the news by the looks of it but you never know it could bounce and spike for a short while up until news.
There is no support anywhere at this level for this company in its entire history. Support and it is weak support is to be found at .95 then there is nothing until .92. But again this is very weak and the real support level for this one is at and around the .80p region. The chart shows this to be the case quite clearly. Whether it will follow this route remains to be seen but its not looking like it will hold up here for long.
How are you charting this Sonia? It looks to me like complete resistance at current price based on the two previous drops. What is the "next resistance/support level" you mention?
From a charting prospective there is absolutely nothing to stop this freefall to .95p and the way it is looking it would smash through .95p. But lets wait and see if it can bounce of .95 once it is hit then it may recover but to be perfectly honest it looks primed right now to smash right through 95 and countinue to the next resistence/support level. The chart is quite shocking and it shows no let up at all in this sharp decline. It will be interesting to see what happens at .95p
So even if earnings were to grind to a halt the shares are hardly expensively rated on a PE ratio of 12 for the fiscal year to end March 2015. But that’s not what analysts predict as they can see scope for another year of earnings growth based on revenues ticking up to around £160m to deliver pre-tax profits of at least £14m (finnCap), and perhaps as high as £14.3m (Arden). N+1 Singer is looking for top of the range profits of £14.5m. On this basis, expect EPS of around 8.5p to 8.8p and with balance sheet gearing of just 25 per cent, a dividend of 1.9p to 2.1p a share is predicted too. Of course, Trifast still has to deliver on those estimates for the 2016 fiscal year, but even so with the shares now so modestly rated then there is a margin of error priced in for the impact of ongoing euro weakness. In fact, N+1 Singer have just upgraded the shares to a buy and have a 124p target price, and finnCap has lifted its target to 137.5p. Both Arden and Edison remain very positive too and I would agree, favouring a fair value estimate at the top end of those target prices. Trading on a bid offer spread of 97p to 99p, albeit this is down from the 111p level when I updated the investment case a month ago, I remain a buyer of Trifast’s shares ahead of a pre-close trading update in mid-April. Please note that I initiated coverage on the shares when the price was 53p ('Bargain shares for 2013, 7 February 2013). Buy.
In my view, the currency headwind against the euro in part explains why shares in Trifast (TRI: 99p), a global manufacturer and distributor of industrial fastenings, have been weak since the company posted an upbeat trading update a month ago (‘Upgrades to drive re-ratings’, 17 February 2015). In the past month sterling has risen by almost 5 per cent against the single currency. However, I feel that investors are overreacting to these exchange rate move as margin gains, particularly from Trifast’s acquisition of VIC, an Italian manufacturer and distributor of fastening systems predominantly to the white goods industry, and ongoing organic sales growth have been offsetting the negative headwind of sterling’s strength. Trifast has also been benefiting from higher margin new contracts, exposure to the robust UK automotive sector and faster selling car models in particular, and a strong order pipeline with its large global original equipment manufacturers (OEM) customers. In fact, in the last week alone, analysts at N+1 Singer and finnCap have both upgraded their earnings estimates modestly for the current fiscal year to end March 2015, and for next year too. Analyst David Buxton at finnCap predicts Trifast will deliver current year pre-tax profits of £13.5m and EPS of 8.1p, up from £9.2m and 6p, respectively in fiscal 2014, based on a 18 per cent rise in revenues to £153m. Jo Reedman at N+1 Singer and Nigel Harrison at Edison Investment Research have almost identical forecasts. On this basis, expect the payout per share to be raised from 1.4p to at least 1.7p (finnCap and Arden Partners estimates), and possibly as high as 1.9p (N+1 Singer), implying a prospective dividend yield of between 1.8 per cent to 2 per cent.
N + 1 Singer lifts Trifast to buy from hold, target raised from 119p to 124p
late last year set the tone ...EV of £100m would be interesting (so sp c80p)
I agess that exchange rates are an issue, as is the level of activity on the part of the OEMs with whom TRI trades. However I suspect that the bigger issue may be the uncertainty about TRI's next acquisition. The Board regularly stress their preference to make further acquisitions and until the next one is known I feel that some potential investors shy away. Personally I'm happy to be on-board and, like you, am looking forward to the annual results.
finnCap reiterates buy on Trifast, target raised from 131p to 137.5p