Adam Davidson, CEO of Trident Royalties, discusses offtake milestones and catalysts to boost FY24. Watch the video here.
The lawyers always benefit in the tough time:
https://www.bloomberg.com/news/articles/2020-05-04/pandemic-lawsuits-will-ask-is-the-coronavirus-an-act-of-god?srnd=businessweek-v2&sref=xuVirdpv&utm_campaign=socialflow-organic&utm_content=businessweek&utm_medium=social&cmpid=socialflow-twitter-businessweek&utm_source=twitter
That business is only 49% owned - makes it a challenge to own imo. The valuation here just looks wrong. Dividend was at 3.75p/year (17% yield at today's Cap) pre Covid. Cash position above expectations and sector focus as industry back before most. Market mechanics at play currently, so difficult to comment on timeframe for a reversal, but I'm positioned to see one.
Any sign of Institutional buying and the trend will clearly reverse. Cap at £127m. This stock has been beaten down. 90p mid-February. It's not an airline or an oil company. It doesn't have unmanageable debt levels. UK Government committed to infrastructure/construction spend. Cost is being managed by Board. Cash positioned actually increased over last month to £142m.
https://www.sigplc.com/investors/results-centre
Worth reviewing 2019 half year presentation to see focus on margin improvement.
https://www.constructionenquirer.com/2020/04/29/major-contractors-now-working-on-70-of-sites/
I expect that JP Morgan is still selling the stock that they have to the market, hence prices. We know that three other institutions have been stake building since Covid 19 and the new CEO appointment - IKO, Goldman Sachs, Aberforth. We also know that the company's cash position more than covers its debt (v important in this climate) and that the company have been implementing cost saving measures across the business. We also know that the company are re-opening part of the business and that construction work is being prioritised across UK (Infrastructure spend in budget) and Spain/Germany. Very interested to hear the go-forward strategy and positioned here and in another for what i believe will be an upturn in the sector.
Yes, company website - investor relations up to date besides latest JP Morgan sale. Goldman’s have approx 6%, bought Feb/March this year (so recent purchase). Aberforth new also with 6% ish. IKO Enterprises increased to 14.7% from 6% in January. Look forward to the company results and go forward strategy, expected next week. Re-opening of outlets clearly a result of increased demand.
IKO increased their interest from 6.85% on December 31st to 14.77% 20 April. Goldman Sachs are new (5.76%) and Aberforth Partners (6.55%) also new (since new CEO). This has fallen so far and has very limited debt. Backed by £135m cash. I’m backing the recovery. Old board clearly paid themselves a fat cheque! I like the way that this board have taken a 50% cut whilst operations disrupted - shows alignment.
This is huge reason to invest in the sector and SIG plc plus of course the construction companies well set. The 2020 budget in the UK was all about Covid and infrastructure/construction/housing - big focus.