Hochschild Mining upgraded to Buy from Hold at Panmure Gordon Panmure Gordon analyst Kieron Hodgson upgraded Hochschild Mining to Buy from Hold with a 366 GBp price target.
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There will likely be many opportunities here for air cargo charter companies such as AIR:
Here you go:
"Thank you for your email.
I can confirm that these shares will remain on the AIM and will not be transferred to the US, which will be the case for all DEGIRO clients. This is the default choice with our custodial broker. "
That is really interesting. The securitisation of law claims actually makes sense in these crazy times, given the low or negative yields on so many kinds of investments now and perhaps for years to come. An asset class divorced from the normal business cycles, divorced from political shenanigans, divorced from the effects of pandemics. The zeitgeist calls for Burford, perhaps.
I have just spoken to DeGiro and they have confirmed to me that my shares will remain on the Crest system.
They tell me as well that they have taken similar action in respect of all their Burford holders.
You may want to check for yourself, however. Their phone number is 00.45.89.88.62.81.
Fingers crossed that they have done everything correctly!
(Now let's see whether I can buy a few more today)
They seem to have closed down their phone help lines in countries other than Netherlands.
Now, I don't know whether that means that emails to "local" email addresses are being attended to.
I mean emails to ..............co,uk or...............fr or ...........es and so on.
None of my emails have been auto-acknowledged.
I have spoken on separate days to service agents in Netherlands.
Not sure whether they are taking in the urgency now of getting this done.
Tonight I have re-sent everything to firstname.lastname@example.org and finally received an auto-acknowledgement.
So they have the documents and I'll call them in the morning.
(I prefer using CREST but don't intend really to trade BUR very much so if I have to be on the US platform, well, so be it)
The question of whether or not different brokers continue to offer trading in Burford shares over today and tomorrow may perhaps be related to the question of settlement of transactions. I use DeGiro and settle immediately in cash when I buy shares. Since they are very low cost and since I live outside UK in any case, I'm quite happy with that. I do not have two or three days before payment becomes due. With the UK broker I used previously, I did have that short settlement period during which payment was still outstanding. It could perhaps be the intention to use that void period most brokers are now applying in order to ensure complete settlement of all transactions in Burford on AIM before the dual-listing takes effect on Monday when some of the shares concerned by those transactions may well have been transferred to the US platform. There may not be any nefarious intent on the part of those brokers. I seem to recall there were hints of something like this in the documents provided on the Burford website.
The availability on Nasdaq of Burford stock as from next Monday would actually form a great news story for Bloomberg, Fox Business, CNBC and other media. I mean the story of litigation funding, how Burford got started, who are the management, the types of cases Burford has been involved in, the greater democratisation such funding facilitates of access to Law, and so on and so on. I do hope that Jim Ballan, Head of Investor Relations, and Burford's media team are already working on this opportunity for media coverage. Chris Bogart was formerly with Warner Media, he ought to have loads of contacts in that business that he could call on.
Are there any litigation funders quoted on NYSE or Nasdaq? I know there is LexShares for people to invest in but they have entry criteria that set a high personal wealth bar to investment. There will almost certainly be a thirst among ordinary investors to get a stake in this fast-growing market, especially given the particularly litigous nature of business there over the pond. A company like Burford with clear market leadership, a decent track record over already a decade, a good pipeline of business and of unrecognised profit entitlement, strong and stable (sorry!!!!) shareholders including sovereign wealth funds, North American management based in the US, a PER of only about 10. business and results unrelated to the standard business cycle, all that ought to appeal strongly. There may be quite a few angles in Burford that might appeal to the Robinhooders, who knows, a tweet from Barstool Dave Portnoy to his millions of followers seems to drive them into a buying frenzy.
We shall see...................
Includes comment from AIR.
"Thirteen commercial litigation funders from across the world have lined up to launch the first global trade association for the rapidly growing industry.
The International Legal Finance Association aims to advocate for the industry in a climate where business organizations like the U.S. Chamber of Commerce have sought to sow doubt about the benefits of third-party capital. The organization anticipates spending roughly $1 million in its first year."
They might be dreaming of finding mugs enough to take up another century bond! LOL!
Seriously, though, the idea of petrobonds, hypothecated on their oil reserves, really ought to be very feasible.
provided there is some effective independent mechanism for enforcement.
Article from Seeking Alpha:
A lot of work done here by this writer.
"Although Mr. Market is right that there are better-performing mining companies currently operating, I believe that there are few that are better valued."
Burford may well be starting to trade in the US at a very opportune time.
This article is from June but the conclusion, of investors being likely to look at non-standard kinds of investments in markets perhaps uncertain or falling, together with an environment of low yields elsewhere, may be even more valid today.
"Air Partner passes this 3-point stock market strategy
42 mins ago by Michael Green
Covid-19 has been a stark reminder of how unpredictable events can leave stock market investors feeling sucker-punched. Over time, researchers have strived to strike out these risks by pinpointing the drivers that can insulate investors from the very worst drawdowns...
Their answer is what we call 'factor investing' - and it's something that investors with an interest in Air Partner LON:AIR might be interested in.
In recent decades, finance academics and market professionals have broadly agreed that stock market outperformance is influenced by a handful of important 'factors'. Using these ideas could put you on the right path to finding shares with the above-average chances of beating the market...
GET MORE DATA-DRIVEN INSIGHTS INTO LON:AIR »
Choose high quality over junk
Some of the most influential stock market studies have found that Quality is an important factor that tends to show up time and time again...
Companies with a track record of profitable growth, high efficiency and solid finances, have been shown to be better bets on average than low quality, loss-making firms.
By our calculations (which use a range of financial quality metrics) Air Partner has a Quality Rank of 97 (where zero is poor and 100 is excellent).
Opt for cheap over expensive
Another well-research observation is that attractively valued shares tend to outperform expensive shares on average over time. So it's important to look at Value and whether a company is being fairly priced relative to what it earns, owns and what it pays out.
By our calculations (which look at several valuation metrics) Air Partner has a Value Rank of 84.
Look for a positive trend
It's easy to think that Momentum is only a measure for technical traders, but research once again shows that recent trends in both price and fundamentals can be a strong hint about the future. In the market, trends tend to persist, so it makes sense to look for stocks that are on an upward trajectory.
By our calculations (which look at both price and earnings momentum) Air Partner has a Momentum Rank of 79.
Overall, there are signs here that Air Partner has above-average exposure to three very important drivers of stock market profits...
What does this mean for potential investors?
Good quality shares that are well priced and rising in the market have very broad appeal. But there are no guarantees. Finding bullet-proof shares is difficult - and we've identified some areas of concern with Air Partner, which you can find here. Knowing the warning signs and being aware of weakness is essential if you're going to preserve your wealth.
Alternatively, if you'd like to find more shares that enjoy strong exposure to these vital drivers of stock market profits, just come and take a look at this Quality, Value & Momentum screen."
"We follow the prospect generator model and in this case work with Hochschild Mining. Where for an US$8 million investment into the project that Riverside's operating, Hochschild can earn a 51% interest, and then, by spending another $3 million in the ground, it could get to 75% interest. "