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Tuesday tips round-up: Mondi, Helphire, Lancashire

Tue, 22nd Feb 2011 06:57

Mondi is one of those perennial biggest companies that rarely makes the headlines, but that may be about to change. The papermaker, which is listed in Britain and in Johannesburg, sits just outside the FTSE 100, but a whacking 111% increase in its full-year dividend to 20 cents yesterday and a renewed focus on returning cash to shareholders might bring it to the forefront of investors' attentions. It will be vulnerable again when the next downturn hits but, for the moment, buy on weakness in the share price, the Times advises.Helphire, which supplies replacement vehicles to drivers involved in accidents that were not their fault, posted pre-tax profits down by 37 per cent to £3.6m for the six months to 31 December, driven by the termination of a number of contracts and lower accident rates. Given that Helphire only trades on a forward earnings ratio of just over 4, some may be tempted to buy their shares. But the Independent thinks further evidence is required that it is on the road to recovery. Hold, the paper says.Lancashire Holdings has only been around since 2005, when it was founded at the end of a damaging year for the insurance industry, with Hurricane Katrina one of many large natural disasters. Yet despite its youth, the Lloyd's of London insurer has performed impressively. despite the recent rally, there still seems to be scope for further gains. Buy, says the Independent.The much anticipated flurry of consolidation among Lloyd's of London insurers has not quite materialised, despite a steady fall in insurance prices dragging down company valuations. One company that claims it would definitely not be taking part in any bidding is Lancashire, which is choosing to return its cash to shareholders instead. Yesterday, the Bermuda-based company reported 2010 pre-tax profit of $339.2m, down 12.6%from 2009 but better than the $272m predicted by analysts. Its stock has risen by close to a third in the past year, making its current valuation seem rather full. Hold, says the Times.Yesterday was John Wood Group's first set of results since the energy service company sold its well support division for $2.6bn and bought PSN, which will add to its "brownfield", or more mature fields, business. The company has a good geographic spread, so should be relatively safe from any further unrest in the oil-producing regions of the Middle East and Africa. Much of this positive news is reflected in the share price, which has risen 80 per cent in the past year. Hold, the Times says.John Wood's shares, that trade on multiples of around 8 times enterprise value to Ebitda (earning before interest, tax, depreciation and amortisation), leaving them slightly behind the sector, which is on more than 9 times, according to Numis. The strong balance sheet, the outlook and the upcoming cash return for shareholders only, adds to the attraction, making this a solid investment, in our view. Buy, says the Independent.Xcite Energy is an oil explorer and developer that is focussed on the oil resources in the North Sea on the UK continental shelf. Xcite, to all intents and purposes, is a one-product concern. The Block G/03B, known as the Bentley heavy oil field, is expected to enter production by the end of this year, moving up to being on full stream by 2013. Forecasts suggest Xcite has a "risk" net asset value of about 624p and, as a result, it is thought the discount is too large. Buy, says the Scotsman.Please note: Digital Look provides a round-up of news, tips and information that is impacting share prices and the market. Digital Look cannot take any responsibility for information provided by third parties. This is for your general information only as not intended to be relied upon by users in making an investment decision or any other decision. Please obtain a copy of the relevant publication and carry out your own research before considering acting on any of this information.

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17 Dec 2013 08:14

Tuesday broker round-up UPDATE

Advanced Medical Solutions: Panmure Gordon downgrades from buy to hold with a target price of 102p. Antofagasta: Canaccord Genuity cuts target price from 1110p to 1035p, while staying with its buy recommendation. ASOS: Panmure Gordon increases target price from 5950p to 6126p, while downgrading fr

29 Nov 2013 07:57

AIM IN BRIEF: Mattioli Woods Half-Year Revenue Up 20%; Eyes Acquisitions

29 Nov 2013 07:22

Xcite Energy slumps as talks with farm-out partners continue

North Sea-focused oil appraisal and development firm Xcite Energy disappointed investors on Friday after saying that talks with potential farm-out partners and lenders are still ongoing regarding its flagship project, the Bentley oil field. The AIM-listed group has current interests in six blocks i

13 Jun 2013 08:36

Thursday tips round-up: RBS, Severn Trent, Xcite Energy

Shareholders in Royal Bank of Scotland (RBS) face even more uncertainty now that Mr.Hester is abandoning the top job at RBS. Yes, the lender will probably manage to turn a profit this year of 2bn pounds, versus net losses of 24bn pounds during the year he started. However, his successor will need to

31 May 2013 08:16

Xcite Energy's subsidiary cancels Rowan rig option

AIM-listed heavy oil appraisal and development company Xcite Energy has reported that its subsidiaryXcite Energy Resources (XER) has cancelled its option for a jack-up drilling unit from British American Offshore, a subsidiary of Rowan Companies. The rig contract was initially entered into in Febr

20 May 2013 09:17

Xcite Energy widens first quarter losses

Xcite Energy widened its first quarter losses as the oil company was hit by a stronger US dollar against the pound. Net loss in the first three months of the year came to £1.7m, up from a loss of £0.05m the previous year. The company had £20.4m cash at the end of the period, of which £12.3m was he

12 Apr 2013 07:25

Friday broker round-up UPDATE

Aggreko: Panmure Gordon raises target price fro, 1727p to 2106p and upgrades from hold to buy. Alternative Networks: Westhouse Securities moves target price from 280p to 295p and reiterates a neutral rating. Investec raises target price from 330p to 350p maintaining a buy recommendation. Finncap in

8 Apr 2013 08:08

Xcite Energy sees increase in oil reserves at Bentley field

Xcite Energy on Monday announced an increase in oil reserves at its Bentley field in the North Sea. The company reported an average petroleum initially in place (PIIP) of 909m stock tank barrels (MMstb), up from 550 MMstb in February. Xcite forecasts a peak production rate of 45,000 stock tank bar

26 Mar 2013 08:08

Xcite Energy achieves first annual revenue

Xcite Energy's Chief Executive Officer Rupert Cole said 2012 was an 'excellent year' for the oil and gas company following the completion of a 250m-dollar project in the UK's North Sea. The group achieved its first annual revenue after the conclusion of the of pre-production extended well test on t

30 Jan 2013 14:10

Xcite Energy extends maturity date of loan notes

Xcite Energy, an AIM-listed North Sea oil and gas group, has extended the maturity date of its unsecured 14 per cent loan notes. The term has been extended for a period of 275 days to December 31st 2013, which may be extended for an additional 90 days to March 31st 2014, subject to the approval of

30 Jan 2013 07:03

Wednesday broker round-up - UPDATE

Alternative Networks: Investec increases target price from 310p to 330p retaining a buy rating. Anglo American: Deutsche Bank takes price target from 2200p to 2260p, while its buy recommendation remains unchanged. Antofagasta: Bank of America reduces target price from 1500p to 1400p and downgrades

25 Jan 2013 13:14

Xcite Energy adds nearly one million new shares to issued capital

Xcite Energy, an AIM-listed North Sea oil and gas group, said Friday that it has applied for the admission of 931,000 new ordinary shares to AIM following the exercise of share options by a former employee of Xcite Energy Resources. The shares are without par value and will shall rank pari passu w

17 Jan 2013 07:19

Thursday broker round-up UPDATE

African Barrick Gold: Westhouse Securities reduces target price from 335p to 305p, while its sell recommendation is unchanged. Anglo American: Exane cuts target price from 2000p to 1650p and downgrades from neutral to underperform. Antofagasta: Exane ups target price from 1400p to 1500p keeping an

10 Jan 2013 07:10

Thursday broker round-up UPDATE

Afren: Morgan Stanley takes target price from 215p to 220p and reiterates an overweight rating. Alent: Bank of America starts with a target price of 370p and a buy recommendation. Associated British Foods: Goldman Sachs moves its target price from 1160p to 1190p and maintains a sell rating. AVEVA

15 Oct 2012 11:07

Xcite Energy pleased with Bentley results - UPDATE

Xcite Energy said it had safely and successfully concluded the first phase of its offshore programme on wells in the North Sea Bentley Field. The company said following Phase 1A of the drilling programme its 9/3b-7 and 7Z wells had been suspended for future use as production wells during Phase 1B.

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Tuesday tips round-up: Mondi, Helphire, Lancashire

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