Wednesday 23 January 2019 | ShareProphets: The one stop source for breaking news, expert analysis, and podcasts on fast-moving AIM and LSE listed shares
I told you that Metro Bank was dodgy...and that you shouldn't underestimate Burberry's Chinese chavs!
Gold has been showing signs of strength of late and moving forwards into 2019 I would definitely be looking to have some in your portfolio, with an equity position in a gold producer being the best option.
Given what is going on in the markets and world in general at the moment, it would seem silly not to have gold featuring somewhere in your portfolio.
Highland Gold (HGM) is well worth a look at the moment with the recent rally in commodity prices expected to extend at least throughout the rest of the year.
John Meyer of SP Angel this morning comments on Atalaya Mining (ATYM), BHP Billiton (BLT), Highland Gold (HGM) and Sierra Rutile (SRX) as well as offering a detailed macro view on the news that is shaping global mining and the AIM mining pond.
The details on the share price technicals of Highland Gold Mining (HGM) is that we have been in a rising trend channel, one which has been in place since December. The floor of the channel currently runs level with the 50 day moving average for the shares at 52.98p.
It may be worth looking at the daily chart of Highland Gold Mining. Here it can be seen how there has already been a significant recovery for the share price from as long ago as November last year.
With Highland Gold (HGM), as with most Gold juniors at the moment, it is difficult to get involved on a technical or indeed, fundamental basis, without thinking / hoping that we are finally looking at the end of an extended bear run.
Highland Gold (HGM) released its unaudited financial results and production figures for the 6 months ended 30 June 2013 on the 18th September 2013. Today Fox Davies has published a note in which it slashes its target price but the top resource broker is maintaining its stance of buy.
Top resource broker Fox Davies has published a research report on AIM listed gold miner Highland Gold (HGM) in the wake of the company’s publication of calendar 2012 results.
Clearly, as things stand, anyone who has been attempting to buy the likes of Petropavlovsk (POG), Kazakhmys (KAZ) and African Barrick Gold (ABG) as potential bottom fishing candidates will not have had an easy ride so far in 2013. Indeed, it could be argued that unless your timing has been perfect, such antics could be included as one of the most foolish things to do year to date.
Highland Gold (HGM) held a conference call on Tuesday the 9th of April to discuss its purchase of the Kekura gold deposit. On the back of that, broker Fox Davies has this morning published a punchy buy note on the stock.
AIM-listed, Russia producing miner Highland Gold (HGM) has published a calendar 2012 trading update which reads very well. There was an 18% increase in group wide production to a record 216,885 ounces of gold and gold equivalents, exceeding guidance estimates of 200,000-215,000 ounces. The shares have ticked up to 114.5p on the news capitalising the company at £372.5 million. I wrote positively on them, at 91p, shortly before Christmas so I am already partially vindicated. But this re-rating has a lot further to go.
Like many junior miners, AIM listed Highland Gold Mining (HGM) has seen its share price decimated during 2012. The stock traded at 197p at the start of the year but now sits at 91p valuing the Russian based gold producer at just shy of £300 million. Indeed during the past few weeks as folks have worried that the great bull run in the gold price is about to end the shares have lost 20%. I do not think gold is heading lower. So is Highland a recovery buy or is the sell-off only just beginning? I sense we may be close to the bottom.
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