Roundtable Discussion; The Future of Mineral Sands. Watch the video here.
The price was held up by a large buyback of 1.8 million shares today, so unfortunately I expect the drop to resume tomorrow. Sentiment is against this share at the moment… stating the obvious I know!
I find it surprising that the SP has not moved up early today given the Nasdaq price rise yesterday and the futures today. SMT seems very unloved ATM with investors being quite short sighted. I believe once the tide turns with interest rates the upward trend will be swift.patience, patience as always is required
The downward trajectory is simply being driven by the NAV falling. Check the NAV over the last week or so and it’s down every day. The discount to NAV is fairly consistent at about 7 to 8% atm.
Today weakness in Moderna on the Nasdaq isn’t helping sentiment either
Just checked in to see what’s changed since end of September and spotted SMTs Moderna stake is up to a whooping 8.8% of the total portfolio! They obviously think Moderna have a long way to go as a growth business and have seized the buying opportunity on weakness of the share price…
It seems to me that the end of day share buybacks are regularly clawing back the price. Today for example, of 4.7 million shares traded SMT bought back 1.47 million they must have more than ever before in treasury as the discount to NAV is ridiculous. Definitely a share to benefit from drip feeding when the discount to NAV widens and over the next 5 years I am sure you’ll be smiling
I stand corrected 897k
https://www.etfdailynews.com/2022/05/24/insider-selling-smith-nephew-plc-lonsn-insider-sells-70378-shares-of-stock/
After a big drop yesterday along with the market as a whole, it’s a pretty weak recovery today. No sign of any director purchases and no sign of any broker upgrades. I imagine Deepak will have a huge share options package lined up anyway so why would he buy more? It would be great to motivate the share price though if he did… GLA
Seems something has stirred the shares into action. From a drop greater than the wider market to a gain of greater within the day… maybe investors are waking up and smelling the coffee!
I am seriously losing faith in investing in individual shares at the moment as there seems to be a downward trend except for a few exceptions like oil and some mining shares and I fear we have a lot further to fall. Smith & Nephew is an example where you invest money waiting for a turnaround and it never seems to materialise. In all honesty I know I would have done better investing in a simple tracker fund in the last 18 months.
Belated reply. If your broker is registered with the IRS in the United States you will get the correct treatment applied according to the wrapper that the shares are held in. For example Interactive investor responded to me when I checked with them as follows:
“For an ordinary dividend from a US incorporated company, such as Somero, held within a SIPP account, dividends are received without the deduction of US tax as we are a Qualifying Intermediary with the IRS.”
I believe ISAs maybe treated differently.
This webpage may help:
https://the-international-investor.com/investment-faq/reclaim-withholding-tax-foreign-dividends-isa-sipp