RE: Positive - Abramovich setting up charitable foundation3 Mar 2022 07:23
This will go down well with investors associated with RA. There is a steady stream of significant buying going on, so wait for the holdings RNS to drop. We have seen the price drop due to the wider geo politics and the fact Evraz was known to be coming out of the FTSE 100.
Fundamentals are strong:
Revenues $14 bil
EBITDA $5 bil
Free Cash Flow $2.25 bil
Net Profit $3.1 bil
Current market cap: £875 mil
Everyone is talking Russia and yes Evraz have mines in Russia , but they are divesting their coking coal business and these are are large proportion of what they have in Russia - this was a deal done in 2021 and completes in a few months. What some don't recognise or are conveniently ignoring is the fact that Evraz is a British Multi-national and is headquartered in London. It has operations in Kazakhstan, Italy, Czech Republic, USA, Canada and Ukraine and Russia.
So considering all these factors I do expect to see a sustained rally in the SP. I am on the buy button again this morning.
One more point to factor in is the fact this qtrs dividend will be paid and that means 37/38p hitting your account - I emailed Investor Relations yesterday, so if you are in doubt suggest you do the same.