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Pin to quick picksSainsbury's Share News (SBRY)

Share Price Information for Sainsbury's (SBRY)

London Stock Exchange
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Share Price: 258.60
Bid: 258.40
Ask: 258.80
Change: -0.20 (-0.08%)
Spread: 0.40 (0.155%)
Open: 260.20
High: 260.20
Low: 258.40
Prev. Close: 258.80
SBRY Live PriceLast checked at -

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Sunday share tips: Sainsbury's, Thor Exploration

Sun, 02nd Jul 2023 15:05

(Sharecast News) - The Sunday Times's Lucy Tobin recommended Sainsbury's to readers in anticipation that the recent warm weather that had boosted fashion retailers' toplines likely also benefitted the grocer.

True, expectations for a slowdown in inflation had yet to bear fruit, but Sainsbury's Tu unit was also the sixth-largest clothing retailer by volume.

She also expected Argos would benefit from the weather as well as pay-rise benefits to nominal income too.

On the flip-side, she also believed that would not be reflected in the company's first quarter trading update that was due out on the following Tuesday.

Instead, the cost-of-living crisis was likely to still a drag on its first quarter performance as the grocer was forced to cut prices and increase its offers.

Hence, the tone of the update was likely to remain cautious and its guidance for full-year underlying pre-tax profits of £640-700m unchanged.

"But Sainsbury's shares are still trading below the five-year highs of 336p seen in August 2018, while sitting in a leaner, better-managed business.

"Food inflation will come down, and the stock offers a dividend yield of 5 per cent. Sainsbury's has a decent balance sheet with the possibility of surplus capital being shared with investors in the medium term.

"Check into Sainsbury's".

The Financial Mail on Sunday's Midas column recommended shares of Thor Exploration to readers, banking on the company's expansion plans output increases to drive share price gains.

Thor owns the highly-profitable Segilola gold mine in Nigeria and there was a pipeline of several more projects.

In 2022, the company produced 98,000oz. of the yellow metal for $165m in sales and net profit of over $25m.

For the current year, production should reach 95,000oz. with turnover rising to $176m, Midas said.

Brokers were anticipating growth of 20% on top of that over 2024.

The company's chief executive officer and founder, Segun Lawson, bought a further 6.6m shares in Thor last month and the remainder of the family owned another 15% - a "sure sign of confidence".

Midas also believed that combined holding in the company would prompt Lawson to move ahead with dividends as soon as practicable.

"Nigeria fills many investors with doubt, but Lawson has developed a safe and profitable gold mine just hours from Lagos, staffed by locals and backed by government," the tipster said.

"[...] And at a time of economic uncertainty and sticky inflation, gold prices, currently more than $1,900 an ounce, should remain firm. At 17.5p, Thor is a find for the adventurous investor."

More News
29 Feb 2024 16:48

Sainsbury's plans to axe around 1,500 jobs in cost-cutting effort

(Alliance News) - J Sainsbury PLC has said it will cut around 1,500 roles as part of plans that it hopes will cut costs by around GBP1 billion a year.

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29 Feb 2024 15:37

Sainsbury's to axe 1,500 jobs in cost-cutting drive

(Sharecast News) - Supermarket chain Sainsbury's said on Thursday that it's planning to cut around 1,500 jobs, as it looks to reduce costs and focus on food.

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27 Feb 2024 11:53

LONDON MARKET MIDDAY: FTSE 100 falters; eyes on US data

(Alliance News) - Stock prices in London were lower at midday Tuesday, ahead of slew of US data which could help determine the course of interest rates.

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27 Feb 2024 08:32

TOP NEWS: UK grocery price inflation decelerates amid Valentine's Day

(Alliance News) - Grocery price inflation dropped to two-year low in the UK, as shoppers prioritised savings on Valentine's Day, new data on Tuesday showed.

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9 Feb 2024 08:49

LONDON MARKET OPEN: Tesco bank sold to Barclays for GBP600 million

(Alliance News) - Stock prices in London lacked direction on Friday, after Barclays announced plans to buy the retail banking business of Tesco Bank.

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9 Feb 2024 07:59

TOP NEWS: Barclays buys Tesco Bank as supermarkets refocus on food

(Alliance News) - Barclays PLC and Tesco PLC on Friday announced an agreement for Barclays to buy the retail banking business of Tesco Bank, as the big UK supermarkets scale back their forays into financial services.

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9 Feb 2024 07:51

LONDON BRIEFING: Barclays buys Tesco's retail banking business

(Alliance News) - Stocks in London are called to open higher on Friday, closing off a busy corporate week.

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7 Feb 2024 16:53

LONDON MARKET CLOSE: European equities slip but US stocks press on

(Alliance News) - The FTSE 100 underperformed on Wednesday, although equities in New York pushed higher despite lingering US interest rate worries.

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7 Feb 2024 15:00

London close: Stocks slip as Barratt, Redrow announce merger

(Sharecast News) - London's stock markets finished in the red on Wednesday, as investors digested fresh house price data as well as news of a big merger in the housebuilding sector.

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7 Feb 2024 08:46

TOP NEWS: J Sainsbury sets share buyback, promises "enhanced returns"

(Alliance News) - J Sainsbury PLC on Wednesday promised "enhanced returns for shareholders", including a commitment to a progressive dividend policy and plans for a GBP200 million share buyback.

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7 Feb 2024 07:27

Sainsbury's to increase capex to drive profit leverage

(Sharecast News) - Sainsbury's announced its 'Next Level Sainsbury's' strategy on Wednesday, aiming to drive profit leverage from sales growth.

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6 Feb 2024 15:27

HSBC upgrades Sainsbury's to 'buy'

(Sharecast News) - HSBC upgraded Sainsbury's to 'buy' from 'hold' on Tuesday and lifted the price target to 310p from 300p as it took a look at European food retail.

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6 Feb 2024 09:53

CORRECT: Barclays cuts Entain; HSBC raises Sainsbury

(Corrects that Goldman Sachs cut Ashtead Group PLC's price target, not Ashtead Technology Holdings PLC.)

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6 Feb 2024 09:04

LONDON BROKER RATINGS: Barclays cuts Entain; HSBC raises Sainsbury

(Alliance News) - The following London-listed shares received analyst recommendations Tuesday morning:

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30 Jan 2024 09:02

TOP NEWS: UK grocery price inflation slowdown pauses in January

(Alliance News) - UK consumers continued to hunt for deals during their supermarket shopping in January, numbers from Kantar on Tuesday showed, but more limited promotional activity meant price inflation only eased slightly.

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