Ryan Mee, CEO of Fulcrum Metals, reviews FY23 and progress on the Gold Tailings Hub in Canada. Watch the video here.
It's important for all property owning shares, especially REITs. A lot of share trading websites will include the NAV in a chart alongside other financial information so you can see if the share price is trading at a discount or a premium to the NAV. See Tritax Big Box (BBOX) or Ediston Property Investment (EPIC) as examples.
As SGRO is trading at a premium to the NAV, you could argue it is overvalued, however investors obviously think there will be an upgrade to the NAV when it is next reviewed and we know SGRO are developing a number of properties to increase its portfolio which will be completed in the near future. The shortage of these large warehouses / big boxes in strategically important locations near motorways and large populations that are favoured by the likes of Amazon, THG, ASOS, Aldi etc mean they are definitely going up in value.
The NAV is a much better/useful valuation tool for this share. Using the 31/12/21 NAV (£11.37 per share), the share price is currently at a 17.5% premium to the NAV.
Next area of concern: Aviation Hull.
https://www.telegraph.co.uk/business/2022/03/05/airlines-dogfight-pull-jets-war-zone/
https://www.beazley.com/london_market/marine/aviation/airlines.html
I think an RNS is required to clarify BEZ's exposures.
Rising grain, rising, oil, rising gas, rising metal. Rising inflation is the big worry here and the impact it will have people's disposable income and their ability to afford a short break at a Premier Inn.
Also worth noting BEZ has a Political Risks book which could potentially end up paying claims out.
As one of the biggest cyber insurers in the world, BEZ definitely has an exposure to Russian hacks and cyber attacks. If the war on the ground doesn't go their way, or they get driven out of Ukraine or they become a pariah state (as they effectively now are), the Russians could change tack and launch coordinated cyber attacks against the Western World leading to BEZ having to pay out claims.
I dont believe BEZ has much exposure to property or reinsurance claims in Russia/Ukraine. War is usually excluded from commercial insurance anyway.
Good timing there!
Results Friday no?
Completely agree. NAV up but shareprice down?! Seems illogical and the discount to the NAV has now widened.
Still at least the RNS hinted at an increase to the divi at some point in the not too distant future.
This is moving in to oversold territory now. The PE is around 21 which is low for a company growing so fast. I expect it will start to level off now and then push back up. Good news on inflation or a positive trading update could be a catalyst.
I thought the results were v.good, slightly better than expected and bodes well for 2022.
I guess its just down to profit taking after a really good couple months. Personally, I'm holding. I got in at 313p so the divi yield isn't too shabby for me and can see 600p being hit before the end of the year.
Don't why we had to wait a couple of hours for the post RNS rise. Bit of a delayed reaction.
Hopefully, this will move back up towards £40.00 pretty quickly now.
The share Price is now quite close to the NAV, the big discount offered over the last 18 months has been eroded by recent increases.
There should be a new NAV announced by the end of next week which could provide a boost to to the share price if it provides a decent uplift.
Exactly Noddi, I don't think he's sold up because he doesn't have faith in the company or because this is as high as the SP will get. He's sold up because he's 68 and wants £20m in the bank. You can't begrudge him that, he's worked bloody hard over the years. He's still got another £20m invested, but that's a tiny fraction of the value of the company.
Bizarrely, Liberium Capital have a target of 2,300p.
"Liberum Capital stuck with its ‘hold’ rating, though it reduced its price target from £35.60 to £23.
‘The company has maintained guidance but after a slow start to the year, there still remains a lot of work to be done to achieve this’, cautioned the broker.
‘While ASOS has made significant technological and infrastructure progress over the last few years, significant cash has been burnt to achieve this and execution has been a source of disappointment historically.’