Roundtable Discussion; The Future of Mineral Sands. Watch the video here.
Couldn't resist buying more at this price - 5% dividend increase equates to 10.8% and a growing dividend going forward, cash generation forecast at £1.5 billion for 2023 with debt at only 25%, with another £250 million debt paid off early 2024.
Last week Barclays again set its target price at 718p.
Berenberg has a target price of 739p and values PHNX at £8.7 billion.
Just block them like I do, so you're only (hopefully) reading relevant posts. Every share I've viewed on here has them.
Debt is only 25% with another £250 million due to be paid off in HY1 24 and over £1.0 billion in 2025. If there's not a major M&A by then, debt interest cost will plummet from its current £250 million per annum, with new business also exceeding heritage from next year, with increased cash generation projected at £1.5 billion.
Aviva and LGEN down a similar percentage in the last year with smaller dividends.
PHNX about to pay a massive dividend and the financial shares are cyclical. Let's see where the share price is in February/March.
Acquisitions. Bought Sun Life of Canada for £250 million last April. Generated £46 million of cash in three months with projected cash generation of £500 million. I personally think they know what they're doing.
DYOR GLA
I was waiting to buy more when it went XD. Instead I've bought now on this stupid broker downgrade. On Monday Bank of America raised its target to 640 from 620.
Regional REIT has had bad results today and cut its dividend. That's probably the reason for the SOHO drop - especially the day before ex-divi.
Looks like annual surplus of at least £118m - £230 m Q4 forecast plus Q3 £203m less £316m HY loss.
With net debt at only £196m could there be a small dividend of circa 7p (previous policy was 50% of headline profit before tax) or a share buy back? Either option (or both) will push the share price much higher.
Given the increased number of shares with the rights issue, 2024 dividend should be at least 30p - hopefully higher as Q1 24 forecast is promising and holidays revenue will hopefully keep growing - any thoughts?
Personally I think it's 'Be greedy when others are fearful' time. Should be 60p dividend this year to tide us over and mortgage rates are already being cut even with at least one more bank rate to come.
As soon as the bank rate starts dropping and the dividend starts to grow this current share price will be a distant memory.
I've previously had BDEV and TW and I'm concentrating on PSN as way more upside.
GLA
Good move @Stille
Hi
I've bought GLEN for the first time today. I was surprised no stamp duty on a LSE share so I assume I'll pay overseas tax on the dividend - grateful if someone could advise.
Agree on Motley Fool - they ain't got a glue.
GLA
Declared 2023 :dividend is actually 33.4p so 8.88% based on today's silly share price.
No share buyback at HY but Ms Blanc is probably itching to announce another one at FY. If this happens it will soar as per last year.
GLA
Also higher production equates to higher dividend which should increase the share price.
I've had a look at the HY production forecasts and made some rough back of the envelope calculations at current prices. I've taken the average forecast which is probably conservative.
Two main growth areas are copper and coal. This equates to an additional $2.414b or 15.4% higher. Copper top end forecast is an additional $408m higher.
Analysts project copper price to increase as inventories much lower than last year so actuals could be higher.
Any thoughts?
GLA
Codelco has recently announced reduced copper output in second half 2023. Now 1.31-1.35 mn tonnes forecast down from 1.35-1.45 mn tonnes. That will help push up the copper price for the rest of 2023. Just need positive news out of China and happy days.
Financial shares usually dip in late June/July - this is when they should have been buying back shares - not rocket science. Could have bought back about 6 million more shares if they had waited.
Q1 update showed continuing growth and I reckon Solvency ratio should be back to circa 212% at half year.
As Ms Blanc has previously stated that any capital above 180% will be used for M&A or shareholder returns and it looks like Aviva hasn't been shopping since Succession Wealth, I reckon they will announce another share buyback at FY on 16 August - thoughts?
28 July 2022 394
9 August 2022 414.3
10 August 2022 results 464.9 after announcing anticipated share buyback to be announced with FY results.
With Solvency currently at 196% after paying final dividend and completing the share buyback every chance they'll do it again on 16 August.
@AllAtSea excellent purchase on a dip. I bought back yesterday at 3.98 and I'm holding till results.
KBW broker downgrade. Just sit tight till results in my opinion.
ATC