Blencowe Resources: Aspiring to become one of the largest graphite producers in the world. Watch the video here.
What's the best investment strategy for us investors, given that the share price is already £25? Sell now and if/when the bid is rejected buy back in? What's the upside of holding?
Were the job losses announces for the PGM or the diamond division?
Hi Walkon. You are not alone! I'm a holder too, I just come here sometimes to check prices.
What a day has been so far. I was so close to sell my holding and try to wait for a lower entry point. Glad I didn't. I knew that when I'm most fed up with a share is never a good time to sell. I always get the timing wrong. Not sure what's in store for the next days/weeks. But today it shows that this can go up as far as it went down. Good luck all.
The latest RNS is out about NAV. The share price is nearly £2 down compared to the NAV, it's an unusual discount for SMT. Can see it closing once the panic selling finally ends.
I was reading an interesting article today about SMT and how it's down 27.4% since the peak reached on the 15th of February. In comparison during the 2008 financial crisis and the following crash it "only" went down 40%.
The price has started to bounce back up following the release of the NAV RNS at 12:40. Not sure if it's a coincidence or it has placated some nerves.
That's a very good point Swarly. I heard talks of inflation limiting tech stock prices, but I thought it was an issue only when inflation went above 3-4%
An investment trust, unlike a fund, is traded like a share. Therefore you should always be able to buy/sell shares in it. Someone more knowledgeable than me could tell you that there are some rare occasions where is not possible to close a trade, but I think is a rare occurrence. It look like the NAV is dropping but not as much as the share price. The premium of 4-5% that SMT had only a week ago has all but disappeared. Perhaps investors lost confidence in the management following Tesla share disposals? A lot of Baillie Gifford trust have been doing very badly in the last few days.
Just to be realistic. GPH makes a lot of revenues from cruise ports in the Caribbean and Mediterranean. With the touristic industry presently at standstill, and the problem we have seen with cruise ships, I don't think we will go back up at pre-covid 19 levels immediately. Hopefully by next year the situation will go back to normal.
Not a good investment for me I'm afraid! Have been here since the IPO. However I believe the company has been doing very well with acquisitions and expansions. The dividend has been very good too. It's just the share price that is lacking, hopefully we will go back to pre-covid levels.
Hi jaskk, I think we won't see any more cuts to the dividend. Taken from the RNS:" the Board has decided to rebase the dividend by one-third to accelerate debt repayment, while retaining a progressive dividend policy, growing annually from the rebased level." Going by what they said it should grow gradually from this level. Let's hope they stick to their words.
I also invested here with a view to hold the shares long term (20+ years). If the dividend is sustainable and we reinvest it, we should see our average price paid for the shares go down very quickly. Sometimes i question my sanity and doubt my decisions when everything seems to go pear shaped. Good to hear some positive thoughts!
Isn't this supposed to be a defensive stock which should outperform the general market in such instances? I appreciate that absolutely everything is down today (and has been for the last few days), but at least we should be doing a little better than the rest of them. If anything people will be smoking more when are stressed out!
I agree with atalatal. It's a very used, and abused, tactic by new CEOs. Make the initial figures look particularly bad, so on the next update they can gloat on the great work they have done. Saying that, IMB has a lot of work to do. Hopefully the dividends will keep coming.
Liberum reiterates buy with a target price of 2,900p.
Another big drop in the afternoon. Gone from £17 to £16.60 in a matter of minutes. Not really sure where the floor is with this share
you are right, not much to report. The summer lull is here. I think fear of recession is keeping the share price suppressed. Looking at the charts, the short position dropped by a large margin, which if anything indicates that even the shorters think is oversold?
Meanwhile this morning:
LIBERUM CUTS ANGLO AMERICAN TO 'SELL' ('HOLD') - TARGET 1500 (2200) PENCE
LIBERUM CUTS RIO TINTO TO 'SELL' ('HOLD') - TARGET 3300 (4500) PENCE
LIBERUM CUTS BHP GROUP TO 'SELL' ('HOLD') - TARGET 1400 (2000) PENCE
Anybody as anything interesting to add?
Just read this on lse news, not sure if the figures are right though: "Volcan Investments announced late Thursday it will be selling 1.9% of the company, worth 24.7 million shares. With Anglo American at 2,079 pence a share, this would be worth some GBP513 million.Volcan is wholly-owned by Indian businessman Anil Agarwal's family trust."
Also an analyst at RBC said: "We would not expect to see any fundamental derating in Anglo American on the back of this adventurous bond coming to an end.”
Hopefully the ill effect of this sale will end in few days and the share price can climb up again!
Why such a low opening today? A RNS was released about 290,000 shares being bought back and if anything I was expecting it to open higher. Instead we have a 5% drop on opening. Other miners doesn't seem to be suffering.