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I thought that this news would have generated some investor interest but so far only 11K worth of stock has traded in Dublin (total of 8 trades). It looks like only retail punters are trading the stock. I wonder at this stage if they might just decide to privatize the company as it seems like two or three major players effectively own it now.
The daily volumes on any stock usually give the first indication when something is about to happen i.e. volume precedes price and price precedes news - the current volumes on BEY are negligible so it's unlikely anything is up.
Sinn Fein are totally opposed to fossil fuel exploration. They make this perfectly clear in their energy policy documentation and in their contributions to energy debates in the Dail e.g.
hXXXs://www.agriland.ie/farming-news/tds-vote-against-new-oil-and-gas-exploration-in-ireland/
I don't think that the people who call this good news are deliberately misleading in order to exit, they just want to keep believing that their investment in this venture will somehow come good. Many are probably long term holders who have kept doubling down over the years and have sunk a lot of money into the dream.
Cantor Fitzgerald lowered their price target to £65. Most brokers price targets for DCC over the last few years have been disconnected from the general market de-rating. Seems they are now starting to adjust to match the realities.
Reading the RNS it looks like TS is trying to put a positive spin on this - i.e. aren't we great deciding to liquidate this fund- positive return since 2014 etc..
If I learned anything from this dog of a fund it's that active management rarely works despite the big names with their (supposedly) superior insights and angles . Much better to stick to index trackers and a few individual large caps.
LOL - more dilution as expected - what a farce. Just got to keep the gravy train rolling!
Millions upon millions blown over the years and absolutely nothing achieved.
Think it will be any different this time?
RBC rolling back their price target to £58. That's quite a significant change from their previous £75 target. I'm guessing that since the share price has stagnated over the past number of years they are re-rating the stock with a target price that reflects the general market view. Their logic/rationale for the 20% downgrade was fairly vague.