Keyword results: debt

CCL
CCL
PREMIUM CONTENT

Me and Carnival plc (‘Do I feel lucky? Well, do ya, punk?’)

It has been a funny last 13 months, but fortunately the financial markets have been the last of my challenges. Obviously I am still not the next Peter Lynch, but I keep on learning (something) even if it was a quarter of a century ago now that I first rocked up in the City. And whilst I could ramble on at length about a few winners this year, one of the more dull stocks has been Carnival (CCL) which I am currently up on 0.25% year-to-date.

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PREMIUM CONTENT

Is McColl’s a buy?

Whilst I do think there are some interesting travel plays, I am far away from excited by either TUI (TUI) (which reminds me of a German equivalent of Thomas Cook) or SSP Group (SSPG) (where you will not be seeing me buying something from an Upper Crust store at a railway station or an airport). I am a bit intrigued though to see that the Taylor Wimpey (TW.) CEO has decided to move on, especially as we saw last weekend rumours that private equity players may be buying a stake. I wonder if the rumours around this have had an influence, although serving as its CEO for 14 years is a decent innings. I don’t think though I have ever written about McColl’s (MCLS), the convenience shop and newsagent operator with trading names Morrisons Daily and (naturally) McColl’s.

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Does Cineworld need to deliver a profits warning?

In its November 15 trading update Cineworld (CINE) included a table, which compared revenue from months in 2021 with revenue from months in 2019.  This was an attempt to illustrate that cinema viewings were returning to pre-covid levels, the CEO specifically commented that “We are thrilled to see audiences returning in significant numbers”. As Tom pointed out then, Cineworld made these comparisons notwithstanding that October 2021 had five weekends whilst October 2019 only had four weekends.  Given that cinema viewings tend to cluster around the weekend, this meant that the October 2021 numbers artificially appeared stronger than reality.

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Gold
PREMIUM CONTENT

The View From The Montana Log-Cabin As Gold Slips Up

Me and my big mouth! Last week it was all positive: Gold had been moving higher, seemed to be out of the downtrend of lower highs and Gold shares were riding high. Then wallop! All of a sudden Gold is back below $1800 at $1792, having been $1845 the previous week. But is this sell-off really serious?

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HZM
HZM
PREMIUM CONTENT

Horizonte Minerals secures a $633 million funding package for its Araguaia nickel project - remains a long term buy

Horizonte Minerals (HZM) looks as though it has defied the odds and will actually manage to bring a large project requiring significant Capex into production, whilst at the same time retaining 100% of it.

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Gold
PREMIUM CONTENT

The View From The Montana Log-Cabin as Gold Consolidates Above Former $1835 Resistance so when will we see $4080 Jordan?

Gold may have sold off at the end of last week, but seems to me to be sitting pretty at $1845 – down $21 on the previous week but still nicely above former resistance at around $1835. But there is perhaps a rather more troubling line to cross at around $1900 or thereabouts, which might take a few goes to crack.

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Nostra Terra has always talked a good game but the end result has always been investors losing money - sell

Nostra Terra Oil and Gas (NTOG) is one of those companies that has always seemed to be popular with private investors over the years, but it is hard to see why as all it has done during that time is rack up substantial losses for them.

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LEK
LEK

Lekoil – announces results but shares still suspended. Yet more farce?...

Lekoil (LEK), describing itself as an “oil and gas exploration and production company with a focus on Nigeria and West Africa”, has announced half-year 2021 results. After from fake sheikhs to now subsidiary CEO farce, yet more farce?…

Gold
PREMIUM CONTENT

The View From The Montana Log-Cabin as a Sense of Optimism Starts to Emerge (for Gold Bulls)

Gold closed the week at $1757, down a tad from last week’s $1761 but pretty much unchanged. Nothing to write home about, perhaps, but very quietly Gold stocks seem to be showing a little more poise than of late. My chart of Gold against GDX (Gold majors’ETF), GDXJ (Gold not-so-juniors ETF) and GOEX (Gold explorers) shows what I am talking about.

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HZM
HZM
PREMIUM CONTENT

Horizonte Minerals remains on track to reach production at Araguaia - buy

As rare as is it to see an AIM mining minnow with a large and potentially very valuable resource in the ground actually make it to the production stage whilst retaining ownership of all of the project, Horizonte Minerals (HZM) now looks on the verge of achieving that.

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UOG
UOG
PREMIUM CONTENT

With oil and gas prices booming, United Oil shares are trading too cheaply despite its issues - buy

Sometimes I look at a company and think its shares are just too cheap at the current market cap and is pretty much being priced to fail, yet in some cases there certainly doesn’t appear to be anything fundamentally wrong that suggests that to be the situation.

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Safestay – ‘a natural point to undertake a strategic review’?...

European hostels company Safestay (SSTY) has today emphasised “confidence of returning to pre-Covid levels of trading” but also stated “this is a natural point… to undertake a strategic review”, including a formal sale process. Hmmm.

HZM
HZM
PREMIUM CONTENT

Funding for Horizonte Minerals Araguaia nickel project is nearing a conclusion - buy

Horizonte Minerals (HZM) is a company that I’ve written about a number of times in recent years, and is also one where I’ve been patiently holding shares myself for a long time. When it comes to AIM mining stocks it is quite a rarity that they either actually make it into production, or get taken out by a larger predator prior to that stage, and for many of them the resource in the ground sounds far better than the reality of actually extracting it commercially.

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PREMIUM CONTENT

Buy Central Asia Metals ahead of the interims next week

I’m surprised to see Central Asia Metals (CAML) showing some share price weakness prior to the release of its interim results next week, as I’ve no reason to suspect that they will disappoint the market – in fact I would expect them to be good!

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If you're bullish on precious metals, Polymetal offers value and growth potential - buy

If you want to invest in London listed precious metals producers your choice of shares is fairly limited, and has become even more so in recent years following takeovers of a couple of the popular miners.

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AV
AV
PREMIUM CONTENT

Well done Aviva...so now what?

It might be August, but Thursday is always a busy day for anyone following stock market updates. Today I could write (again) about TUI (TUI) or Entain (ENT) but frankly I said enough on the former back in May, and today’s update may be talking about rising numbers of holidaymakers (but it is still making a loss and has a bunch of corporate debt). Meanwhile the latter has been a really good holding for me over the last 20 months, albeit after a dodgy start. As I previously noted, I still conclude that taking profits over recent months has been very sensible, but it is fine to run a few still (as I do) if you wish. Today though I am going to write more about Aviva (AV.).

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RR
RR
PREMIUM CONTENT

Still a Rolls-Royce believer

Back in March I asked the question ‘do you feel lucky…Rolls-Royce (RR.)?’ as ‘for a lack of profits/cash flow even this year, this one remains a long term stick the shares in the bottom of your drawer play’. I admitted then that I remained a holder on the basis of its airline engine, defence and even ‘being a player for low-carbon civil aerospace solutions’ over the next decade or two. But, reflected by the massive share price fall since early 2020, it has a lot of debt and correlation with the COVID-19 impacted world. So whilst Rolls-Royce shares are a few pence down from their previous level and March (and only a few pence up year-to-date), there is a little bit of positive progress in today’s first half numbers.

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PREMIUM CONTENT

A few bits of excitement at Playtech

Back in May I observed that I was ‘still holding onto my profitable position’ in Playtech (PTEC) the gambling software development company. Today it is less profitable than it was back then as over recent weeks the shares have fallen back to levels last seen in November last year. Thankfully I doubled up my holding sixteen months or so ago when almost everything was perceived a bit more cautiously. Anyhow back in May, whilst observing firm multiples and a bit of debt, I did also observe that its ‘online growth has remained very strong in 2021’ and hence I still hoped that Playtech shares had ‘the scope to return to around the six quid level again’. Well despite the romp in Entain (ENT) shares over the last couple of years working out very well, Playtech has been a lot duller. Since May there have been a couple of interesting further announcements too.

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The travel industry has been hit hard but I believe it will bounce back - Saga offers good exposure to that

Whilst you might think that I’m mad to even be looking at the travel sector at the current time, I believe that often the fear of what might happen outweighs the actual reality, and often things don’t turn out as badly as people thought they might – the commodities sector during the first half of 2020 being a good example!

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KOS
KOS
PREMIUM CONTENT

Kosmos Energy remains on track for strong production and revenue growth - strong buy

Kosmos Energy (KOS) has to be one of the most under-rated oil companies listed in the UK, but I think that people that overlook it in favour of some of the more popular producers are wrong to do so.

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Gold
PREMIUM CONTENT

Keeping the Faith at the Montana Log-Cabin as Gold Edges Higher

Gold edged higher again this week to $1788 from $1782 a week ago. It is not much of a move, but following the beating in the wake of the Fed’s threat to raise interest rates in two years’ time that is now two positive weeks, which is good (for gold bulls). There are plenty of reasons for optimism that Gold will head a good deal higher a few months out, but I am keeping the faith that we will again see $2000 Gold by year-end and this is why.

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I3E
I3E
PREMIUM CONTENT

I3 Energy has turned things around and has plenty of potential to continue heading in the right direction

I3 Energy (I3E) has been a great example of why past failure doesn’t necessarily point to a continuation of that in the future – in the same way that past success doesn’t mean that a company or management team will manage the same again.

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ENQ
ENQ
PREMIUM CONTENT

EnQuest – “proposed issuance of equity”, recovery value - take up open offer

EnQuest (ENQ) has announced a proposed issuance of equity “in line with the announcement on 4 February 2021”. So what was that announcement and what is the proposed equity issuance and its impact?

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LAM
LAM
PREMIUM CONTENT

Even if you like the potential of Lamprell, I can see no good reason to buy until equity financing is confirmed - avoid

Energy services provider Lamprell (LAM) saw its share price take a big hit following the release of its annual results for 2020, which included a statement about the need to raise further capital via an equity issue – the exact amount and terms of which is yet to be announced.

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WG
WG
PREMIUM CONTENT

John Wood Group shareholders: 'do you feel lucky, punk?'

A few days after my article here back in March, I did take some very minor profits and ran away from my holding in the ‘British multinational engineering and consulting business’ John Wood Group (WG).  Since then the shares have dropped well over 20% to a 217p share price on Friday.  So do I feel lucky enough to buy it back (punk)?

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GMS
GMS

Gulf Marine Services – open offer result sees shares further lower...

Previously writing on support vessels provider Gulf Marine Services (GMS), earlier this month with the shares at 3.25p I concluded hopefully my prior caution was heeded. As the attempted refinancing plays out, I currently continue to avoid. Today a “Result of Open Offer” announcement… and the shares currently further lower below 3p…

CCL
CCL
PREMIUM CONTENT

Madness and excitement at Carnival Cruises

As I noted last month here, I do own some shares in Carnival Corporation (CCL) on the basis that (1) I was too optimistic in early 2020 thinking about Covid-19 only being focused on China but; (2) I did double up my holding a couple of months later on the basis that the owner of the Carnival Cruise Line, Princess Cruises, Holland America Line, P&O Cruises, Seabourn, Costa Cruises, AIDA Cruises and Cunard was going to be loved by a growing number of (rich and ageing) holidaymakers around the world.  Obviously I would not ever go myself…but as discussed about multiple other sectors and stocks, this has never been a reason for me not to invest (after all, inherently I am personally unbelievably boring in any case).  

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Gold
PREMIUM CONTENT

The View From the Montana Log-Cabin as Gold Plunges on “Hawkish” Fed

Crash! Having had a fair old go at clearing $1900 Gold went into reverse this week to close at $1764 – down a whopping $114 from last week. Apparently Jerome Powell, head of the US Federal Reserve, has suddenly become a hawk……having told us he would ignore inflation data for the rest of this year, that unemployment is his biggest concern and that he wasn’t even thinking about thinking about tapering QE (which, we are told, would come before raising rates), now we are told to expect maybe two rate hikes in 2023. And that was enough to send precious metals into a tail-spin.

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HZM
HZM
PREMIUM CONTENT

As long as Horizonte Minerals eventually secures mine finance, delays are largely irrelevant - buy

It always surprises me how impatient investors can be and how much a missed deadline can sometimes be punished, even when that event has the potential to unlock significant amounts of value, if and when it finally happens. I’ve been invested in Horizonte Minerals (HZM) for several years now and during that time have seen lots of ups and downs, including disappointment when ‘deadlines’ have been missed.

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PREMIUM CONTENT

Life remains far from easy for SSP Group

Back in the day we all used to go to one of the 2,800 branded catering, 180 airport and/or 300 railways stations where SSP Group (SSPG) acts as a food supplier. Naturally matters have been a bit different over the last fifteen months, hence why the company’s interim results were pretty shocking with a 78.8% fall in revenue and a loss of nearly £300 million. No wonder it announced a money raising the other month, to help bring down its net debt level to just over £350 million. You can all guess the realities that the operator of Upper Crust since the 1980s and names such as Le Grand Comptoir and Camden food co. has faced as fewer people have travelled to cities, railway stations and airports.

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AET
AET
PREMIUM CONTENT

With a new team in place, Afentra is a buy

When an AIM company changes its name it can often be to try and hide a dodgy past, generally where it has raised money consistently from shareholders but failed to actually deliver anything, but there are also times when it can signal a change to the business and a move in the right direction.

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AV
AV
PREMIUM CONTENT

Aviva continues to pleasingly perform

It has been a great last year for my investment in Aviva (AV.), shares in which have risen from just over 250p to above 400p in the last month or so. Certainly my view back in February was that the sale of its business in France, Poland, Italy and part of Asia struck me as a very sensible move. The completion of these deals is still set for later in the year – along with the anticipated return of capital. Elsewhere, ‘our positive trading performance in the first quarter of 2021 reinforces our confidence in the targets we announced earlier in the year…we still have much more to do, to deliver stronger returns for our shareholders’, which sounds like good movement.

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Biffa loves more waste...and more recycling

I have had a positive view on the waste management company Biffa (BIFF) for a while now, mentioning last October here that ‘on a similar multiple for its likely earnings for the 2021 or 2022 full years and this is how you get a three quid odd share price target’.  Back then the stock was about 220 pence, but today it is almost at my three quid target…and it is nothing to do with its next set of numbers (which are due next week).  Earlier today, Biffa announced it would be buying the collections business and ‘certain recycling assets’ from its industry peer Viridor.  So why are its shares up nicely this morning?

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CPG
CPG

As Eating Places Munch Back Nearer to Normal, One of the Biggest Caterers of All Looks a Lot Perkier

Hello, Share Bunnies. In a week when eating places return to inside noshing, the share price of catering king Compass Group (CPG) is holding up rather well when you consider that its revenue dropped by nearly a third in these difficult times. Even so the latest half-year revenue is still £8.6 billion and that’s tickling up a share price which has been slowly recovering.

Why Going Dutch Might Not Be Such a Bad Idea - for the Time Being

Hello Share Bunnies. Fool that I am, my biggest holding is in Royal Dutch Shell (RDSA). My intention is to sell up as soon as the price gets closer to its highs, even though I realise it will not get all that close, possibly ever again. Never mind, the share price is currently rising as the value of Brent Crude continues to soar.

THS
THS
PREMIUM CONTENT

There's a good reason why the Tharisa share price has risen so much - if you want exposure to PGMs, then it's a buy

Private investors are often looking to buy into companies where the share price has fallen, rather than those which are near all time highs, but in some cases that is the opposite of what they should be doing!

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GRA
GRA

Grafenia – “trading and strategy update”. Er, what’s the net cash/debt position?!

“trading and strategy update” announcement from Grafenia (GRA) includes “revenue in March 2021 improved and was 80% of the same period last year. This April has started well… there’s lots of reason to believe our clients will reopen to increased demand… using our software platform to smooth the process” and “we made significant and permanent reductions to our overhead base during 2020, to reduce our breakeven point”. Why then are the shares currently little changed, at 5.625p, in response?…

Collapsing-Reactor

Video: Hyperinflation is here

Libertarian investor Rafi Farber is an economist of the Austrian school so clearly a sound chap. He outlines the treasury market operations and the massive increase in debt issuance. Much of this debt is now being redeployed under Janet Yellen and will require an enormous amount of additional issuance to finance the infrastructure spending under Biden. This debt will be raised through ten-year and two-year treasuries, and the Fed will have to monetize nearly all of it. And that will have only one result.

  • 280 days ago
Bear

If deficits do not matter why bother with taxes?

Or indeed with any notion of fiscal responsibility?

HSV
HSV
PREMIUM CONTENT

Markets open positively after Easter...but did HomeServe shares peak last year?

It is good to see the UK market opening up again after the Easter break, including a pleasantly positive move by Central Asia Metals (CAML) which I positively wrote up yesterday HERE. Otherwise I have been following Tom’s comments on the comedy Deliveroo (ROO) float. I note this morning’s update that ‘Deliveroo Holdings plc will announce its trading update for the First Quarter of 2021, on Thursday 15th April’ as finally a bit of sensible news from this one. Look forward to writing that up then…and finally giving a view about whether the nearly 30% share price fall since last week’s float has made it close to being at an interesting share price…or not! Elsewhere I also see that HomeServe (HSV) is out with an update…

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Gold
PREMIUM CONTENT

Gold – The View From the Montana Log-Cabin as Gold Travels But Ends Up Back Where it Started

Last week I noted that Gold was going nowhere fast. This week it moved fast, and quite a bit, but ended up more-or-less back where it started. This week’s action might offer some hope to gold-bulls like me, but I fancy there remains a way to go before one can be certain the selling of the past 8 months is finally over.

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Gold

Video: The Mega Debt Bubble Reset

Trader Francis Hunt “The Market Sniper” says that gold is acting as the bellwether for the collapsing global economy. Gold and silver will soon be unleashed, not unlike the recent major moves in palladium and rhodium. He says that a lot is happening behind the scenes that will affect precious metals, and he looks closely at the macro picture surrounding the markets and bonds.

Gold
PREMIUM CONTENT

The View from the Montana Log-Cabin as Gold goes nowhere fast

Two steps forward, one step back. Gold closed at $1734 per oz this week, down a tad from last week’s $1745, ending a two-week rally but the truth of it is that it has been going nowhere fast over the last two and a half weeks, as can be seen on the chart below. I guess that is better than continuing the decline.

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Collapsing-Reactor

Video: The Fed Has Destroyed All Stores of Value as debt brings out the worst in humanity

Asset manager Michael Gayed warns the very fabric of society is at risk.

Bear

The strains of Covid19 (three at the moment)

Debt matters, try not to pretend otherwise

Collapsing-Reactor

Video: Too Much Debt & No Going Back

Economist John Adams works for bullion dealer As Good As Gold Australia so he talks his own book. But his views would once have been mainstream Austrian. So much has changed. 

MRW
MRW

Wm Morrison – full-year results, still an Income Buy

Wm Morrison (MRW) has announced its results for its year ended 31st January 2021 and that it is confident it can continue momentum into the new year, expecting both profit growth and a significant reduction in net debt.

Beggar

Video: The Trillion-Dollar Debt Problem

Wall Street veteran Peter Grandich believes that  the loose monetary policy day of reckoning must come. He says, “We just past another couple trillion in money printing. This debt isn’t something that will go away; someone will pay the price and pay dearly. Servicing this debt is an issue, and the average American has no understanding of what is occurring.”

TLW
TLW

The Fellow Who Follows Tullow Hasn't Had it Easy, but Perhaps Salvation Is at Hand

Hello, Share Lovers. I’ve loyally held shares in Tullow Oil (TLW) for 5 years or so. Worst luck! At one stage, and it was a long time ago, the shares multibagged. But presently I’m down about 60%. Of course, the virus knocked the stuffing out of what value remained for me. But with the oil price soaring, there’s a chance that Tullow may fare better soon.

Gold
PREMIUM CONTENT

Gold Shares – It’s been a tough few months, but I sense we are near the bottom

Back in August the Gold price peaked at $2063 and it has been more-or-less downhill ever since. On Friday the Gold price closed at $1700 – a 17.6% drop in around seven months. So is the Gold bull story all over? My answer is definitely no. But as a Gold Bull, I would say that, wouldn’t I!

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ENQ
ENQ
PREMIUM CONTENT

EnQuest is up over 50% since I tipped it, but it offers a great leveraged play on the oil price so I would continue to hold

Quite often ShareProphets readers contact us asking for an opinion on a particular company, and I’m always happy to take a look – although there is no guarantee that the conclusions I come to will necessarily be what they wanted to hear about the company!

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PREMIUM CONTENT

Pharos has been one of the worst companies I've owned, but I can't ignore the oil price and have been buying more!

Pharos Energy (PHAR) has been one of the worst stocks that I’ve been invested in – not necessarily in terms of the share price performance, although that has also been awful, but more the way the company has been managed and the amount of money that I’ve seen them waste over the years.

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PDL
PDL
PREMIUM CONTENT

Petra Diamonds is about to complete balance sheet restructuring but I still wouldn't touch the equity

Petra Diamonds (PDL) is one of those mining companies which is drowning in debt and could very easily have gone bust, had it not recently announced a restructuring with its lenders.

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Gold
PREMIUM CONTENT

Gold – Jordan Roy-Byrne calls the bottom again and three stocks to be buying now

I noted a few weeks ago that ShareProphets’ favourite technical analyst,  Jordan Roy-Byre of TheDailyGold.com, has called the end of the Gold correction which started last August. It was a very rare error. Now, noting that making declarative statements does not necessarily add value for the reader, he has called the bottom for gold miners and juniors. I hope he is bang on the money this time!

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HUM
HUM
PREMIUM CONTENT

I was wrong about Hummingbird Resources

When it comes to investing, I’ve always gone on the basis that you should always react to new information, not necessarily in terms of buying or selling, but certainly in assessing upside potential and risks – even when that emerges soon after you’ve made a decision as to whether or not a company is worthy of investment.

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PREMIUM CONTENT

Former Woodford Patient Capital Trust, now Schroder UK Public Private Trust agrees massively discounted asset sale. How can NAV be believed?

Schroder UK Public Private Trust (SUPP) – the former Woodford Patient Capital Trust has today announced the sale of seven assets for a total of £51.9 million. Well done, you might say – until you read that this represents as discount of some 19% to the forex adjusted (as at 25 January) valuations as at 30 September 2020. Not so hot, all of a sudden.

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PREMIUM CONTENT

Saga is well positioned to recover from Covid, with its customers being amongst the first to be vaccinated: BUY

Any regular reader of this website may have noticed that I have become fairly bullish on the travel sector recently, although mixed with a degree of caution as well as there are still plenty of risks for these businesses.

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Gold
PREMIUM CONTENT

Gold – The Return of Mr Bull Hits a Bump in the Road

It was all looking so rosy. The correction from $2063 which started last August seemed to have played out, a low had been put in at $1776 and recovery was well on the way as the yellow metal rose and rose again to over $1950. And then we hit a bump in the road and we’re back down to around $1830. Even ShareProphets’ favourite technical analyst was taken aback by the drop: I hate to say it, but it looks as though Jordan Roy-Byrne of TheDailyGold.com has finally got something wrong!

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Bitcoin

Video: Inflation Starting to Rear its Ugly Head: buy bitcoin and gold shares

Asset manager Lawrence Lepard of Equity Management Associates argues that the system has failed due to unsound money, and an immediate restructuring would be preferable. The alternative may be dragging the process out for the next twenty years. He explains the differences between today and 2008 and why we haven’t seen much increase in money velocity yet.

ENQ
ENQ
PREMIUM CONTENT

EnQuest still has very high debt levels but could recover as oil prices rise - speculative buy

EnQuest (ENQ) is a company that I have followed for a long time and have previously been invested in myself, but over the past few years its shares have performed terribly and has never really recovered from the previous oil price slump, which bottomed out in 2016.

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Gold
PREMIUM CONTENT

Gold: patience, patience.......

When I last commented on Gold I noted that it seemed to have smashed through overhead resistance at $1900-1925 but cautioned that it may turn tail again in the short term. My view was – and remains – that it will head sharply higher over the next year to eighteen months but we must await the return of the Gold Bull. Well, it seems that it has indeed turned tail – we will be waiting a little longer for the bull to reappear.

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Gold
PREMIUM CONTENT

My Montana Log-Cabin Call for 2021 – Call me a gold bore, but……

There are, once again, bubbles everywhere. US markets are at all-time highs and Japan is at a thirty-year high, according to David Scott. Government bonds (as opposed to their yields) aren’t far off all-time highs and – importantly – the returns are minimal if not negative. Traditionally, that would be a warning sign that all is not well – normally when one is high the other is low. But these are no normal times.

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NMCN plc – further updates, how’s the liquidity position now?...

Previously writing on UK engineering and construction company NMCN plc (NMCN), I’ve noted a far from planned CEO ‘step down’ and a trading warning following recent CFO resignation and what sounds like a rush for liquidity. Now further updates – and the shares currently slumping in response…

KOS
KOS
PREMIUM CONTENT

Why I would buy Kosmos Energy and hold until at least 2023

You might have noticed that recently I have started covering a few companies in the oil and gas sector as being worthy of a long term investment, and in case you are wondering if I’m mad to be doing so given what is going on in the world, I believe that it is the right time in the cycle to start positioning again.

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SAL
SAL

SpaceandPeople – prestigious property wins significant opportunity… or ramptastic?...

Shares in manager of promotional and retail merchandising space SpaceandPeople (SAL) have surged from 4.25p on the back of a “Prestigious Property Wins” announcement. Ramptastic?…

Bear

What is the "Great Reset" ?

Money for nothing and debt for free

PREMIUM CONTENT

LoopUp Group – trading update, I was right to doubt in the summer as now it loops down (& misleads)...

Previously writing on remote meetings technology group LoopUp (LOOP), in July with the shares at 177.5p I questioned how sustainable the net cash generation? The shares went on towards 250p, but last closed at 155p and are currently well below 100p on the back of a “Trading Update”…

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PREMIUM CONTENT

Cineworld – the answer to drowning in debt is ….er more debt?

Cineworld (CINE) is drowning in more than $8 billion of net debt. Its net assets at the half year were just $1.2 billion and if you strip out intangibles that number falls to MINUS $4.3 billion. With cinemas around the world either shuttered or likely to reopen to much smaller audiences, what to do? Yup…take on more debt.

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CNA
CNA
PREMIUM CONTENT

Centrica has the potential to recover following the disposal of Direct Energy and a shift of focus back to its core business - buy

Buying shares in a large company which seems to be going through a rocky patch is always a risk, as in some cases these companies never actually manage to recover, but if you do get it right it can be very lucrative and Covid appears to have helped to create some good opportunities. Energy provider, Centrica (CNA) has performed terribly over the past six or seven years and anybody who has held it as a long term investment during that period of time will be sat on a sizeable loss. Even prior to the arrival of Covid it was already in a downwards spiral with high levels of debt and falling profitability, but the virus accelerated that and even though the markets and many energy shares have recovered to some degree in recent months, Centrica is still trading closer to the lows with a share price of 44.8p…

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Gold
PREMIUM CONTENT

Gold – vaccine No.2 offers just a temporary minor crunch

The announcement by Pfizer (NYSEPFE) that its Covid vaccine was 90% effective saw markets rally and gold drop sharply – initially by around $100. Yesterday saw vaccine no.2, from Moderna (Nasdaq – MRNA) announced, and the Dow Jones closed at an all-time record. But the effect on gold was much more limited…

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PREMIUM CONTENT

Vast Resources a serial disappointer except when it comes to share issuance - sell

Vast Resources (VAST) is typical of many AIM mining companies in that it has always promised a lot but failed to deliver, whilst continually raising more capital via regular equity issues.

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MKS
MKS
PREMIUM CONTENT

M&S shares remain (just under) a quid's worth of option money...

Almost as embarrassing to admit that I spent six hours of time gawping at the BBC’s American election coverage overnight (I did eventually switch to a financial TV channel), is that the smallest position in my SIPP is Marks & Spencer (MKS) upon which I am currently sitting on a stonking loss (i.e. a small starter position has got even smaller). They cannot all be Barrick Gold (NYSEGOLD) or GVC Holdings (GVC) I guess…

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Bear
PREMIUM CONTENT

Grim and Grimmer as Lockdown 2 heads this way - what I am selling at 8 AM tomorrow

And so we are indeed heading back into lockdown. I’ll leave aside the merits or otherwise of that, but would urge readers to take a look at THIS and consider a polite, brief but acid note to your MP pointing out that their own job prospects may be in question if they do not challenge Bonkers Boris, as suggested by Peter Hitchens if you think fit. The question now, for investors, is what to do.

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CGH
CGH
PREMIUM CONTENT

Chaarat Gold – hostilities & political unrest operational impact limited, recovery buy?...

Chaarat Gold (CGH) has updated on the third quarter of the year, noting “a strong Q3 operational result and continued progress at our Tulkubash project” despite COVID-19 and “events” in its countries of operation…

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GMS
GMS

Gulf Marine Services – shares further slump as General Meeting resolutions fail...

Gulf Marine Services (GMS) has updated that “at its general meeting held today, the resolutions put to shareholders both failed to pass… Of the 176,388,633 votes cast against the resolutions, 96.7 per cent. (170,575,984 votes) were voted in respect of shares beneficially owned by Seafox, Mazrui Investments LLC or Horizon Energy LLC. The shares have currently responded further lower towards 7p…

Gold

Video: Global Debt Implosion Coming - buy Gold

Asset manager Egon von Greyerz of Matterhorn Asset Management AG based in Switzerland argues that today’s events are not nerw. History does repeat itself. Governments love to spend more than they receive in revenue, and no currency has ever survived. Deficits have been nearly non-stop since 1930, and often an unrelated trigger can cause the crisis.

JKX
JKX
PREMIUM CONTENT

Following a decent operational update, JKX shares are a buy

Currently you could easily argue that there is a longer term investment case for numerous oil and gas producers, based on the assumption that commodity prices will improve over the next few years, and could even spike in the same way that we’ve seen in the past after prolonged periods of low demand.

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NMCN plc – to report additional losses, “limited impact on the group's cash position”?...

Previously writing on UK engineering and construction company NMCN plc (NMCN), last month I noted an update attempted no-one watching o’clock? – with clearly a far from planned CEO ‘step down’ and a trading warning following recent CFO resignation and with the shares around 250p to avoid / sell. Now a further “Trading Update”

GMS
GMS

Gulf Marine Services – hits out in requisitioned General Meeting circular...

Dispute with Seafox International has seen a General Meeting requisitioned for boardroom change at Gulf Marine Services (GMS) and now the publication of circular & notice of the General Meeting…

ARE
ARE

Arena Events – “pleased to announce” funding, but...

Provider of temporary structures for events, Arena Events (ARE“is pleased to announce that the group has secured funding of £15.6m through the Government Coronavirus Large Business Interruption Scheme… this additional funding, coupled with securing non-event revenues such as medical facilities and fixed cost reductions will enable the group to continue to trade through during these extraordinarily difficult times”. The shares though currently remain at 5.6p…

GMS
GMS

Gulf Marine Services – Seafox International responds, bank crunch still looms?

Yesterday I wrote on Gulf Marine Services (GMShits back at Seafox International, but bank crunch looms. Seafox has since responded…

GMS
GMS

Gulf Marine Services – dispute with Seafox International takes another turn... and another...

At 10:04am Gulf Marine Services (GMS) announced it “has today been notified that Hesham Halbouny and Hassan Heikal have resigned as Directors of the Company with immediate effect. Mr Habouny and Mr Heikal were previously appointed to the Board on 4 August 2020 at a General Meeting requisitioned by Seafox International Limited”. At 11:27am Seafox responded…

CPG
CPG

Compass Could Soon Find a Northerly Direction for its Share Price

Hello, Share Tweakers. The rise and rise of Compass Group (CPG) was keeping this old punter very happy. But that was before the pandemic struck. How can you expect a company to succeed when it specialises in contract catering for firms, schools, and universities at a time when a pestilence has shut them down?

RR
RR
PREMIUM CONTENT

Can Rolls Royce strengthen its balance sheet and recover longer term?

Rolls Royce (RR.) is one of the most famous British companies, and even though it no longer associated with the car brand, it is still renowned around the world for its engineering prowess. But despite its reputation, it has struggled in recent years and the arrival of Covid-19 in combination with a poor set of results for 2019, not to mention impending debt repayments, caused the share price to plummet back in late February and throughout March. Since then, apart from a brief recovery in early June when the markets bounced back, it has seen a further decline and is now trading at close to an 85% discount compared to where it was a couple of years back…

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PREMIUM CONTENT

Hammerson – now firmly on my bargepole list: so it was a slam-dunk sell!

When, on August 11th I looked at the rescue rights issue for fully-listed Hammerson (HMSO) and the terms, I concluded it was a slam dunk sell. At the time, the shares were (in consolidated terms) 264.9p with a mother-load of rights offer confetti to come at just 15p. The official ex-rights price calculation was 25.59p: now the stock is languishing at just 16.6p. A glass of Ouzo for me, then.

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PZC
PZC
PREMIUM CONTENT

PZ Cussons – should I mope about a YTD unchanged share price?

Only a week or so until the start of October and the formal start of the fourth quarter of a certainly different year. In the narrow commercial world of stock market investment, many of the thoughts in the institutional world will be about how year-to-date performance against both benchmarks and absolute terms is looking – and whether there are a few tweaks needed in the last few months of the year. For my personal pension fund such considerations should not really matter as – unless I fancy talking to myself – I don’t have to rock up early next year to talk to a much of dusty trustees, excitable intermediaries or comedy line managers about how well or badly my portfolios have done. However, all those years taking the institutional shilling continues to influence and – like the investment sad-o I am – on my monitoring spreadsheet I do have a year-to-date performance column. I have been a fan of PZ Cussons (PZC) for a while…

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HUR
HUR
PREMIUM CONTENT

Today's news looks like the final nail in the coffin for Hurricane Energy equity holders

Hurricane Energy (HUR) promised so much but it looks like it will end up joining the long list of failed companies in the natural resources sector following recent updates, including the interims today.

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CGH
CGH
PREMIUM CONTENT

Chaarat Gold – a buy?...

Chaarat Gold (CGH) describes itself as an AIM-quoted gold mining company with an operating mine in Armenia and assets at various stages of development in the Kyrgyz Republic”. The shares commenced 2020 at 35.2p, with the gold price then below $1,550. The gold price is now above $1,950, but the shares are still available at a 38.9p offer price – with the company most recently updating earlier this month…

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Gold

Video: Dollar Destruction Targeting $15,000 Gold and $750 Silver

Once again we stumble across someone who makes Nigel Somerville look sane and balanced. Trader Steve Penny claims that  “Commodities have never been so cheap relative to paper assets.” He argues that today is a generational wealth transfer opportunity. His macro thesis is that the national debt is mathematically impossible to repay. History has shown that politicians will always try to inflate away the debt.

600 Group – trading update, orders returning to acceptable levels?...

Industrial engineering company The 600 Group (SIXH) has updated including of “a £1.2m ($1.6m) new term loan with a 3-year bullet repayment under the Coronavirus Large Business Interruption Loan Scheme through HSBC and “all sites are operational… the level of order backlog has returned to acceptable levels”. The shares though are little changed at around 8p…

SHG
SHG
PREMIUM CONTENT

Shanta Gold is working to increase reserves and production – speculative buy

Gold is all the rage at the moment and looks set to remain strong, even if we do see some pullbacks or it not advancing to the price levels that some are predicting. So, it is no surprise that there is so much focus at the moment on any company operating in the gold sector, either producing or even just early stage explorers. With such a big recent rise in the gold price, many miners have followed it upwards, so if you are only just getting into gold now, the trick is to try and find value, and if something does look cheap, to understand why it might be trading at a lower market cap than you would expect. One ShareProphets reader has recently asked me to take a look at Tanzanian gold producer Shanta Gold (SHG), as to him it seemed relatively cheap and he wondered if there was a good reason for it being so…

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AA
AA
PREMIUM CONTENT

The AA & oh-so-clever hedge fund-style shareholders v. oh-so-clever private equity potential business purchasers...

I have never owned or – to the best of my knowledge – written about AA plc (AA.). Briefly last decade I was a member before an alternative breakdown service was bundled into my bank account but I remember thinking it was a bit of a rip-off back then. Obviously some people (Neil Woodford) did not think it was a rip-off and built up a large double-digit percentage stake before having to admit it was yet another mistake…

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Loungers – argues sales ‘encouragement’, but still early days...

Operator of 165 neighbourhood café / bar / restaurants across England and Wales under the Lounge and Cosy Club brands, Loungers (LGRS“is pleased to update on current trading having now re-opened all 165 sites in the estate, with the exception of Cosy Club in Leicester which opens this Friday” – and the shares have currently responded to 130p, more than 20% higher…

CNA
CNA

Centrica: Back to the Future – boring is good!

Centrica (CNA) updated the market this morning with its half-year report…..and the proposed sale of its US unit, Direct Energy for $3.6 billion. With the sale process of Spirit Energy still to be restarted once commodity and financial markets have settled and the eventual divestment of its nuclear business still to come, Chris Bailey reckons it looks like this is a trip back to the future as the company returns to its mid-80s look as a regulated UK business. Here, here.

KRM
KRM

KRM22 – outlook “continues to be positive”… or not?

Risk management technology for capital markets-focused KRM22 (KRM) has updated including “progress has been made with two new customer wins and cost and debt reduction” and that it “continues to have a strong pipeline of opportunities and is progressing well through the procurement process with two further tier one banks which the company expects will close in the second half of the year”. The shares have currently responded to 28p… approaching 14% lower!...

PPC
PPC
PREMIUM CONTENT

If President Energy doesn't recover, then unlike most AIM outfits, chairman Peter Levine has the most to lose!

Just because a company has traded at much higher share price levels it doesn’t mean that it will do so again, and that is particularly true of oil companies at the moment.

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PREMIUM CONTENT

It's been a torrid time for pubs, but Marston's should recover strongly following its deal Carlsberg

There are some sectors where I am incredibly wary of buying in general at the moment, but amongst those there are companies that have the strength to survive the current situation with Covid-19 and will do very well long term, so there is an argument for buying them as an investment.

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PDL
PDL
PREMIUM CONTENT

Petra Diamonds asset sale news ultimately makes it look to be heading for a wipeout for equity holders

Buying bombed-out shares in companies that have previously run as successful businesses can be very lucrative if they somehow manage to turn things around, but it also offers a very high chance of losing all your money if you are proven wrong and hold to the bitter end. There are plenty of companies on the stockmarket that have been at death’s door but have managed to survive and have subsequently gone on to do quite well, but there are also a large number of others that went bust and where investors lost all their money, and there is a very fine line between the two if you do decide to take a risk on a company that finds itself in this situation.

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PREMIUM CONTENT

Ouzo Time Again! Trafalgar Property – The Bailout Arrives at 0.08p but is it enough? Er……

Technically insolvent AIM-listed POS Trafalgar Property (TRAF) has announced a bailout placing/subscription, courtesy of a Peterhouse special, to raise £750,000 at just 0.08p. Alongside that, there is a corporate loan restructuring which will see £600,000 of intercompany debt morphed into convertible loan notes issued to a director but still leave behind a further £1.4 million debt to said director. Well, you can’t say you were not warned…….

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I3E
I3E
PREMIUM CONTENT

i3 Energy looks likely to survive if its acquisitions go ahead, but at what cost to existing shareholders?

I had been wondering when further news would come from i3 Energy (I3E) and these week two significant RNSs dropped on the same morning, which ultimately led to shares being suspended for the foreseeable future.

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Bearcast
PREMIUM CONTENT

Tom Winnifrith Bearcast: the answer to too much debt cannot be even more debt

I start with two points of order on my next premium podcast (out later tonight) and on July 18 ( more details tomorrow). Then I look at Walcom (WALG) and lessons learned, Tomco (TOM) and lessons not being learned as who gives a flying wotsit about criminality on AIM, and at Cineworld (CINE) where there are four reasons to stay short.

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Angelfish Investments – “pleased to announce”… mass dilution or bust?!

The board of Angelfish Investments (ANGP on the AQSE ‘Growth Market’) “is pleased to announce… Company Update and Proposed Director Appointment”. This with it previously - in October - “continuing to review the options to address the capital structure and will provide further updates in due course”. So now, at last, some good news then?...

JKX
JKX
PREMIUM CONTENT

JKX looks a bargain at the current price with no debt and decent reserves

There is a lot of focus on oil companies of all sizes at the moment, with many investors speculating on their future recovery now that commodity prices have improved, but I would probably be more focussed on those which largely produce gas.

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PREMIUM CONTENT

Cineworld takes one small step back from the abyss...but it ain't enough

Regular readers will know my long-term negative view on Cineworld (CINE). Was it really December 2017 that I first penned some caution on the name?...Yes it was as you can read here. Even with the recent comedy bounce, the shares are still down two-thirds in value since then which is not too shabby. So what to think now?...

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GMS
GMS

Gulf Marine Services – following “New debt structure”… a General Meeting requisition demand...

Oil, gas and renewable energy industries support vessels provider Gulf Marine Services (GMS) yesterday announced a new debt structure which it argued provides it with a “secure platform to sustain recovery”. Now a requisition of a General Meeting from Seafox International!...

PREMIUM CONTENT

Still signing up for Johnson Matthey's 'science-led strategy'

I last wrote about Johnson Matthey (JMAT) in late March, since when unsurprisingly the share has made some solid progress (although clearly it remains heavily down year-to-date). Back in March I wrote about how the stock would be a member of my top five 'quality longer-term FTSE-100 constituents' on the basis of the range of 'typically high barrier to entry businesses (recycling and refining of precious metals, clean air and car emissions regulation focused, plus batteries and value-adding fine chemicals)'. Well that is all fine and dandy but - as today's full year to 31st March numbers show - it does not preclude profits getting a whack...

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Be Heard Group – possible cash offer “advanced discussions”… what about that “recent movement” in share price?!

Be Heard Group (BHRD) “notes the recent movement in Be Heard's share price, and can confirm that it is in advanced discussions with MSQ Partners Limited regarding a possible cash offer of 0.5 pence per Be Heard share”. The shares have currently responded around 0.20p higher to circa 0.46p, capitalising the group at around £5.75 million...

TMO
TMO

Time Out Group – open offer raises £2.1m… but what was target? And...

Time Out (TMO) has updated that “6,135,967 new ordinary shares were taken up under the open offer, including open offer shares applied for pursuant to the excess application facility, raising gross proceeds of approximately £2.1 million”. The shares have currently responded trading at around 40p...

PREMIUM CONTENT

Biffa – there's still brass in muck...

You may recall back in September I rhapsodised about waste company Biffa (BIFF) observing - after pacing through its capital markets day presentation - that 'the company is exposed to themes such as tighter regulation, recycling and participation in energy from waste'. A quick look at the shares over the last nine months showed that my hopes of a three quid share price proved correct. Having done all the difficult work, I really should have got back in the stock after it nearly halved at the time of the March lows. Anyhow, here we are in June with the share having regained about half the decline and today's full year numbers update is really in two parts – as are so many corporations reporting up to 31st March…

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Crash
PREMIUM CONTENT

Private equity and debt - massive tax reform needed

The economic low tide of Covid-19 has shown many businesses to be naked below the waist, with insufficient equity to protect their sensitive parts. It is a good moment to consider why so many firms run this risk, and if a change in government policy might be in order. I believe that it is.

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PREMIUM CONTENT

Two copper producers which offer value and good potential upside

Over the past couple of months it has generally been a good idea to avoid resource stocks unless you’re either buying for the long term or are happy to try and trade high volatility, but one metal that is showing signs of strength is copper.

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IMB
IMB
PREMIUM CONTENT

Imperial Brands – cuts dividend… but as we expected and still an Income buy

We recommended shares in tobacco and ‘next generation’ products smoking company Imperial Brands (IMB) amidst the market instability in early April – noting trading performance resilience although we regarded a dividend cut as almost inevitable. The company has now announced results for its half-year ended 31st March 2020 – and there’s subsequently been a new addition to the shareholder list...

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SHI
SHI
PREMIUM CONTENT

SIG offers longer term recovery potential if it can ride out the coming months

Covid-19 has had a big impact on many companies and quite a number of them now look priced to pretty much completely fail and go bust.

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WTB
WTB
PREMIUM CONTENT

Do I pony up for more Whitbread stock?

Normally a preliminary results announcement would be of the uppermost interest when thinking about the daily newsflow grind around a FTSE-100 company. However, for Whitbread (WTB) today its own preliminary update is superseded by a rights issue announcement from the owner/operator of the Premier Inn franchise. A rights issue! In the current era of placings, it felt like a blast from the past to have a table showing the indicative timing of events...

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Malvern International – hopefully my November warning was heeded...

In November as the shares fell below 1p, I cautioned on learning and skills company Malvern International (MLVN) with its decline from 2 months previous “traditional second half weighting a good start” with already net debt and a net current liabilities position. Now “Proposed Fundraising”...

MKS
MKS
PREMIUM CONTENT

Marks & Spencer – 'Never the Same Again'...

Confession time first. I do own some Marks & Spencer (MKS) shares…they are though right at the bottom of my SIPP and equate to approximately 0.2% of portfolio value. Clearly I should get rid or stick to my own rules of having no position smaller than 1% nor greater than 10% (hello Barrick Gold!). If truth be told, I have been considering whether I should quintuple (or more) my holding. Today's full year (to the end of March) results seem like a good chance to consider when I pull the trigger…to buy or sell...

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IMB
IMB
PREMIUM CONTENT

Chillax Imperial Brands shareholders, your dividend is not (completely) up in smoke...

As everyone except a few delusional souls such as Bernie Madoff in his pomp have noted, this investment game is not easy. Today's ongoing lesson for me is Imperial Brands (IMB), where, if you had asked me yesterday – the day before its first half results, I would have predicted a playbook something akin to (1) the company says life is not easy but sort of workable akin to its revised guidance of a month or two ago (check), (2) it would cut the dividend citing the need to reduce debt but the absolute yield would still be attractive (check) and; (3) the shares would go up as panicky investor types would get the other side of their fears and realise there is an interesting and out-of-favour defensive total return story (hmm)...

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PREMIUM CONTENT

Intu plays the zombie card...

Is there much more to say about Intu Properties (INTU)? I last directly wrote about the stock a couple of months ago, and for over a couple of years I have been pushing the bear tune. My essential thought is that even at today's share price - which I see on a decent up day on the markets has advanced 5% - I am still aggressively avoiding the stock and regard the likelihood that it remains overvalued as very high. Today's announcement concerning the impact of the coronavirus we all see on commercial property realities - 'breaches of covenants' and 'material uncertainty for any asset disposal or additional funding process which intu might pursue to address these covenant issues' - is the hard and harsh truth...

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KRM
KRM

KRM22 – equity investment commitment it is “pleased to confirm”. Really?...

Previously writing on capital markets risk management technology-focused KRM22 (KRM), with the shares above 50p I questioned a trading update and a director share acquisition providing confidence. Now an equity fundraising announcement...

DTY
DTY
PREMIUM CONTENT

There's dignity in Dignity's announcement but nothing for stock pickers...

You all know I have been bearish about funeral provider Dignity (DTY) for a long time, from my inaugural January 2018 posting as the shares fell from a teens quid share price here noting that the bottom of the page is not the bottom of the chart, to here back in March where, with the shares having a '3' in front of them, I switched to a 'popcorn' rating. Since then the shares have fallen further and now trade with a '2' in front of them. I should have continued listening to my own advice: the bottom of the page is most certainly not the bottom of the chart. I do have to give Dignity some credit with reference to today's update...

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RTO
RTO
PREMIUM CONTENT

Rentokil looked expensive even before Covid-19, and far more so now - sell

Pest control and hygiene company, Rentokil Initial (RTO), wasn’t looking particularly strong even prior to the arrival of Covid-19 and was trading at a very racey valuation, in my opinion.

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Gold

Video: Gold Miners are Orders of Magnitude Undervalued Relative to Gold

Fund manager Mark Yusko argues that we have the highest amount of leverage at all levels today, which is very similar to 1929. The 1929 crash was terrible, with markets falling 47%, then rallied back and then collapsed again. America today has an addiction problem, and that addiction is debt. Debt has to be defaulted on or inflated away, which is the path they choose in the 1930s.

Bear
PREMIUM CONTENT

Sell sub prime auto loan shark Credit Acceptance Corporation

The tug of war going on in the markets now between reality and full on Modern Monetary Theory makes the stock market all but uninvestable until it is clear which side prevails. At the moment the latter seems to have the upper hand, but it is early days and I suspect that reality is not done yet. On the short side, many zombie companies which have been propped up since the GFC with artificially low interest rates are now sensing a new lease of life as they rush to the seemingly limitless Covid trough, as moral hazard abounds. There are always exceptions however...

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INL
INL

Today’s Primary Bid Offer is more big league than usual – Inland Homes, I am almost tempted

Folks often carp that Primary Bid  offers are at the scuzzier end of the AIM casino. That charge cannot be levelled today. Inland Homes (INL) is a proper company and this is a serious, largely institutional, fund raise.

BP
BP
PREMIUM CONTENT

I kind of wish BP had cut its dividend

I must be super grumpy today because I was actually unhappy that BP (BP.) did not cut its dividend today. I do not have a position so its dividend largesse or not is directly kind of irrelevant to me, but indirectly its continued effort to pour income down the mouth of its loyal shareholder base will have been welcomed by every single pension fund of size out there – and no doubt a decent slug of ShareProphets readers. My problem though is that it just tells me that it is an oil integrated supertanker still in search of a strategy...

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Beggar

Video: Michael Pento: Prepare Now Before the Real Crash Begins

You think the marketr meltdown of the past six weeks has been bad. You ain't seen nothing yet! that is the belief of analyst Michael Pento who is Michael is convinced that we are heading into “The Greater Depression” as the world is awash in 17 trillion dollars in negative-yielding debt. He says, “We are no longer living in reality; this is a fantasy created by massive monetization of debt from central banks.”

TRN
TRN

Trainline's rapid growth will be derailed and the market cap looks ludicrous - short

Most of the shares I cover here are from a longer term investment perspective, or ones which I think will go a lot lower and are best avoided.

EVE
EVE

Eve Sleep, Debt and Semantics

I had a twitter spat today regarding the difference between Debt and Liabilities and was called a host of names and told I was stupid etc, etc. ZZZ. Twitter is not the best place to discuss stocks with the faithful who have a rudimentary understanding of balance sheets and throw around Investopedia definitions and accounting terms and consider that an argument. The company in question was Eve Sleep (EVE).

AIR
AIR
PREMIUM CONTENT

Air Partner – a currently very rare “well ahead of both budget and the prior year”...

Aircraft charter and aviation safety & security consulting and training company Air Partner (AIR) has updated including “the unaudited management accounts for February and the flash report for March show that each month generated profits well ahead of both budget and the prior year. The current indication is that the group has delivered around £2.4m of underlying profit before tax in the first two months of the year” – and the shares have currently responded above 50p, up from sub 20p as recently as early last week…

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ZEN
ZEN
PREMIUM CONTENT

Zenith Energy funding deal looks very ‘spoofy’ - avoid

I’ve always gone on the basis that if something doesn’t feel quite right when it comes to non-binding deals being announced, then at the very least it is worth questioning the likelihood of completion. Of course, that isn’t always the case and some non-binding letters of intent, or memorandums of understanding, do in fact proceed as outlined, but my first thoughts when I saw today’s news from Zenith Energy (ZEN) was that it looked very ‘spoofy’...

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I3E
I3E
PREMIUM CONTENT

BREAKING: I3 Energy has acquired assets which make a massive operating loss - this is insanity

As usual the bulletin boards seem to be flooded with people saying what a great deal I3 Energy (I3E) has just secured, having announced today that it had acquired Toscana Energy Income Corporation (TEIC).

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PFD
PFD
PREMIUM CONTENT

Despite its high level of debt Premier Foods is a buy

Picking shares that are worth buying at the moment is a real minefield as the situation with Covid-19 is changing all the time. It would be very easy just to sit here and say ‘sell everything’ and you could probably stick a pin in a list of stocks at the moment to pick a sell recommendation, and the chances are that it would go down, at least in the near time!

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PREMIUM CONTENT

Cineworld looks likely to become a victim of Covid-19

With the current state of the markets there isn’t a lot that I would exactly be rushing to buy at the moment, as I think that even the good companies that have strong enough balance sheets to survive relatively unscathed, could well go a fair bit lower yet.

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KIE
KIE
PREMIUM CONTENT

Woodford’s last gamble, Kier, releases interims

I said many times that Kier Group (KIE) would be Neil Woodford’s last gamble and so it proved. Having been a heavy buyer all the way down from around £10 he threw every last penny he could muster as he always knew best. But he did not know best and this morning’s interims statement shows that even with new management on board there is a very long way to go before investors see anything like real profits and dividends again.

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Iconic Labs shares suspended for incompetence but that is the least of its problems

It never ceases to amaze me just how irate and even abusive some investors get towards anyone who doesn’t think that their investment in a company is going to make them a fortune. That was certainly the case last August when I covered a company called Iconic Labs (ICON) here with a piece I titled ‘Iconic Labs death spiral financing won’t work out well for existing investors’. Today the shares, having already collapsed as predicted were suspended as the company fessed up to monumental incompetence.

HGM
HGM
PREMIUM CONTENT

Gold looks set to remain strong and Highland Gold is my favourite producer

Gold stocks seem to be very much on the radar at the moment, with the price of the yellow metal looking very strong against a back-drop of worldwide concerns over coronavirus and investors looking for a safe haven.

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PDL
PDL
PREMIUM CONTENT

Sometimes with recovery plays like Petra Diamonds it becomes clear you've got it wrong and it is time to cut your losses

Whenever you buy a share which you view as a potential recovery play, you have to accept the risk that of them will do everything but actually recover, and if the situation worsens then it is time to cut your losses and sell.

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Profits Wobble for this Mining Giant But Things could Pick Up with Commodity Prices

Hello Share Scrimpers. Like me, you probably tolerate companies in your portfolio that you can’t be bothered to do anything about – either to sell or buy more of. One such firm for me is Glencore (GLEN), the big Footsie miner. There always seems to be some excuse why it’s not flying along. And yet the alarm bells are rarely there for me to call it a day...

PREMIUM CONTENT

A persistent seller of illiquid Pharos Energy shares is providing a buying opportunity at a knock-down price

Looking at the chart for Pharos Energy (PHAR) I wouldn’t blame you for coming to the conclusion that it is best avoided as it has been on a steady downwards trajectory for several years and with little sign of any relief.

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SSE
SSE

A Giant Utility Ditching Retail Activity and Gas could Power into a Sparky Future

Hello Share Chasers. Once the Tories surged back into power, you might have expected companies previously threatened by nationalisation to enjoy a big jump in their share prices. Well, there was some improvement, but not exactly a big jump in most cases. So it’s possible that the utilities, for example, could see some more jolly share action before long...

BT
BT
PREMIUM CONTENT

The road has been very rocky for BT Group but I can see potential both in the shorter and long term

BT Group (BT.A) has seen its share price drop quickly over the past few months, and following the publication of its quarterly results yesterday and news on Huawei it is trading at close to its lowest share price in recent years.

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Gold
PREMIUM CONTENT

Gold – Jordan Roy-Byrne, a stockmarket correction and what I am up to

Jordan Roy-Byrne of TheDailyGold.com continues to be uber-bullish on gold and precious metals in general, even if he always seems to be a short-term bear. His latest thoughts can be found HERE and HERE and perhaps suggest that he was a little too bearish as gold corrected from last year’s race higher. But his market calls have been spot on since I started following his commentary and with a latest call that stockmarkets are in for a correction we should sit up and take notice. Unfortunatey, he does not see gold taking out the 2019 high any time soon, however.

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HSW
HSW
PREMIUM CONTENT

Hostelworld has had a rough patch but pays a good dividend and could turn things around - buy

Although my main focus is in the oil and mining sectors, I do also follow quite a few shares which don’t fall into this category, with Hostelworld (HSW) being one of them.

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PREMIUM CONTENT

Verseon: Another Woodford Dog goes to the great kennel in the sky

This morning yet another AIM cancellation was announced: that of Neil Woodford uber-dog Verseon (VERS). Having failed to raise cash from a placing, failed in its bid to jump on the crypto-currency bandwagon and having failed with its fatally flawed proposal to do a sale-and-leaseback of its headquarters because that would have left the company with no cash, no income and no assets, shareholders voted through its AIM cancellation as from 7am this morning.

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AHT
AHT

My Old Money-Maker Still Goes Strong, but What happens if Construction Markets Slow Down?

Hello, Share Lovers. One of the temptations of reviewing a share I sold some time ago is to take a jaundiced view of its future. But in the case of Ashtead (AHT), I think I can be objective. After all, this is a company which made me a lot of money before we parted company...

NG
NG

Electricity Giant Could Still be a Reliable Divi Play in Shockingly Difficult Times

Hello Share Takers. With the market so unpredictable in these pre-election days, perhaps I should take a look at an old favourite even if I have reviewed it fairly recently. My view: that I should not dump this share any time soon, despite a slight threat of nationalisation, has not weakened...

Bearcast
PREMIUM CONTENT

Tom Winnifrith Bearcast: When he is not republishing defamatory tweets about me, Roger Lawson makes partial sense on debt

I apologise for the lack of articles today, Gary Newman is on a book deadline, Chris Bailey is engaging in his dirty secret and I am olive harvesting. A few words on that and then I look at comments that Roger Lawson of ShareSoc makes on debt and also on Victoria (VCP). On this occasion he is only partially wrong, which must be seen as a result.

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Pets At Home's Share Price Races Ahead, but there May Be More to Come

Hello, Share Trundlers. Maybe I’m wrong, but I hazily remember one of the country’s most respected bears offering a jaundiced view of Pets at Home (PETS) at the Global Group UK Investor Show. But that was some years ago and now things have changed...

MWG
MWG

Modern Water – “pleased to announce” new business… but what’s to follow?

Modern Water (MWG) “is pleased to announce that it secured the sale of its largest by volume All-Membrane Brine Concentrator technology, to be used in South Korea's first deep seawater salt production project” – and the shares have currently responded more than 7% higher, to 1.5p. However, Nigel Somerville previously warned on this company; bullshit packed RNS, placing at 1.25p to raise just £141,696 - prepare for a GM and more confetti!

With the High Street Under Siege, British Land May Not Be the Best Share Out There

Hello Share Twiddlers. I think I've commended British Land (BLND) to your further inquiry in the past. But stories change and I’ve modified my optimistic view. I feel the latest set of - half-year - numbers isn't too encouraging. The company lets out property to retailers. And we all know the High Street has been beset by closures and liquidations recently. For British Land, net rental income fell by nearly a tenth to £243 million...

SXX
SXX
PREMIUM CONTENT

You still cannot be Sirius - Strategic Review Progress Update

So there is a Plan B right? Well sort of. But it changes nothing at Sirius Minerals (SXX). It is still almost certainly a total wipeout for shareholders whatever the company says about an update on its “strategic review.”

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Why I'm Going Lukewarm on my Biggest Shareholding

Hello, Share Swappers. There aren’t many share analysts who talk down their own book. But when the need arises, I’m prepared to do it. My biggest holding is in Royal Dutch Shell B shares (RDSB). But though I normally suggest you look at this huge company with a view to buying, I am now curbing my view...

SOU
SOU
PREMIUM CONTENT

Terrible deal for Sound Energy - it remains a bargepole stock

It has been fascinating watching Sound Energy (SOU) play out over the past few years, but probably less so if you’ve actually been invested in it!

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LOK
LOK
PREMIUM CONTENT

Are Marie Kondo and I are both wrong about self-storage...and Lok'nStore?

Back in April I observed that the thought of paying up for self-storage at a name like Lok'nStore (LOK) for me was beyond the pale. As it happens I am far from being a hoarder and live my life a little bit closer to the ideals of the Japanese organising consultant Marie Kondo...but it seems I am far from the norm…

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GSK
GSK

Changes Made At this Pharma Jumbo Could Be a Tonic for its Shares

Hello, Share Dibbers. The jumbo pharma GlaxoSmithKline (GSK) is undergoing changes. And if you think the company is making the right decisions, then then you might consider a closer look. The City has been pleased with the latest quarter results and though my own holding has not risen much over the years, perhaps that could change now...

NOG
NOG
PREMIUM CONTENT

Nostrum Oil and Gas – Debt for equity swap due...or worse?

The share price of Main market-listed Nostrum Oil and Gas (NOG) has declined from 780p back in August 2014 to 10p on 11th October and has now recovered to 26.5p. With a market cap of some £50 million but production around 30,000 boepd it initially looks like a bargain. But, as is all too often with such investment cases, it’s drowning in debt with little sign of ever being able to pay this back. A debt for equity swap seems the only way forward to me. At best...

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GMS
GMS

Gulf Marine Services – “Contract Award”… so why a share price decline?

“Contract Award” announcement from Gulf Marine Services (GMS) including Executive Chairman Tim Summers commenting “we are encouraged by the steady emergence of new tenders in our core Gulf market, which will allow GMS to focus on building towards full utilisation of all classes of vessel in our fleet”. The shares are however slightly lower to 8.85p…

NCC
NCC

This Manchester Giant Should Profit from the World War on Criminal Hackers

Hello Share People. At parties and other get-togethers, when I ask people what they do, it seems everybody works in IT. Yet a big cybersecurity firm has complained that a lack of qualified computer operators has been holding it back. However, NCC Group (NCC) says it has now fixed the problem...

PREMIUM CONTENT

Central Asia Metals remains a conviction buy and will surge higher if commodity prices improve

Central Asia Metals (CAML) is a company which I have followed for a number of years, and although the share price hasn’t seen much movement during that time, anyone who has followed my previous buy tips should still have done okay from it.

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JKX
JKX
PREMIUM CONTENT

JKX has the potential to generate substantial amounts of cash flow if gas prices improve: BUY

I always find it surprising that private investors are prepared to take big risks on the drilling of oil and gas wells, yet they won’t touch certain shares due to geo political risks.

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UU
UU

Water, Water Everywhere and this Useful Utility should Stay Afloat

Hello, Share Scribblers. While not generally a fan of utilities, I do keep a long-time holding of United Utilities (UU.), which manages water and sewage in the North West of England. A recent trading statement shows the company is holding up well...

Collapsing-Reactor

Neil Woodford Redemptions Watch: a big up-day as Boris goes for tunnel vision

Yesterday was, apparently, a big day in that Boris Johnson’s Brexit plans made it into the Euro-tunnel for negotiations. The UK markets went into a buying frenzy as suddenly the world is going to be saved. Thus the FTSE100 put on 0.8%, the FTSE All-Share (Neil Woodford’s benchmark for his Equity Income and Income Focus funds) put on a slightly more impressive 1.37% and the FTSE 250 raced away by 4.19%. Meanwhile Woodford’s unit trusts put on 4.27% (Equity Income) and 5.07% (Income Focus) in NAV per unit. All hail hero Boris.

IMB
IMB
PREMIUM CONTENT

Are my positive views on Imperial Brands up in smoke?

Looking back a couple of months to my appearance on Tom's radio show many of the views I expressed there have aged pretty well. Long/buy calls such as Barrick Gold (GOLD in the US) and easyJet (EZJ) have performed appropriately whilst dogs such as Metro Bank (MTRO) and Dignity (DTY) keep woofing. I remain amazed that shares in bad boy St James's Place (STJ) have so far shrugged off a bunch of disaster stories about its overcharging culture...you can guess my continued negative thoughts on that one. However, one share which I mentioned and has not behaved as I would have hoped in the last couple of months is Imperial Brands (IMB)...

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Bearcast
PREMIUM CONTENT

Tom Winnifrith Bearcast: the folly of debt, Thomas Cook, Sirius, my local boozer & taxpayers cash

Capitalism has got itself into a mess by becoming addicted to debt. The answer is not more debt. That is lesson one of Thomas Cook (TCG). Those who blame the Government for not bailing it out, or Sirius (SXX) or my local boozer misunderstand how capitalism works. Folks have to lose money and jobs must be lost for all of us to prosper.

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PREMIUM CONTENT

Neil Woodford updates on funds as at 31 August: what a total bag of junk!

Yes, folks, it’s that time of the month again when Neil Woodford updates us on his funds, and what is in them. The good news is that both unit trust (Equity Income and Income Focus) had net cash as at 31 August…….and Woodford Patient Capital (WPCT) didn’t.

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PDL
PDL
PREMIUM CONTENT

Petra Diamonds results have done nothing to change my opinion of the company - I now hold myself

When a share keeps on falling you have to decide whether the decline is terminal or how good the chances are of a recovery at some point. In some cases you will just be throwing good money after bad, and just because the shares have traded at a higher level in the past doesn’t mean that they will necessarily do so again if the fundamental changes to the business are terminal. But we also see cases where there is a temporary decline followed by quite a strong recovery, especially where the business is reliant on factors that are cyclical – such as in the natural resources sector as commodity prices fluctuate – or where it has suffered from shorting or a persistent seller, or even a combination of all of these...

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ENQ
ENQ
PREMIUM CONTENT

EnQuest is showing long term recovery potential - speculative buy

There seem to be a number of mid-sized oil producers which have fallen out of favour with investors for quite some time now, and I’d definitely have to include North Sea-focussed EnQuest (ENQ) high up on that list...

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Gold
PREMIUM CONTENT

Gold – all the “Experts” are mega-bulls……except ShareProphets fave Jordan Roy-Byrne, and what I am doing.

I like Jordan Roy-Byrne’s analysis – even though he’s a technical analyst. Part of that is because he doesn’t draw magic squiggly lines and predict what the CEO of a company will have for breakfast next Tuesday. Part of it, however, is that he’s not just a technical analyst – he learns from history too (something I wish the great and the good at Westminster would follow), and looks at fundamentals too. So with all the gold so-called experts seemingly in mega-bull mode (and we’ve featured a good many on ShareProphets), for balance I thought I would share some of his thinking, because he’s no bull right now – although be in no doubt, he is in the longer term.

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PREMIUM CONTENT

Red Flags at Night: Woodford Patient Capital hit as Link slashes yet another valuation

Link Fund Solutions is, we are told, responsible for the valuation of Woodford Patient Capital’s (WPCT) portfolio of unlisted and other dogs, with the help of valuation firm IHS Markit. Since the gating of Neil Woodford’s Equity Income Fund (WEIF), Link has got its hatchet out several times and the official NAV per share of WPCT has dropped sharply from 89.61p as at the end of May to yesterday’s lowly figure (as at the close of play on Thursday) of just 72.85p. The last notified hacking was on 23 August (Industrial Heat) and saw 3.4p per share wiped away at the stroke of a pen. Last night at no-one-is-watching o’clock (6.20pm) another 4p disappeared from view. It is death by a thousand cuts.

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JSE
JSE
PREMIUM CONTENT

I'm finding it hard to find any reason not to invest in Jadestone Energy!

It is hard to see why the share price of Jadestone Energy (JSE) has dropped recently as there seems to be little reason for it to have done so, and on that basis it definitely deserves closer attention...

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CAB
CAB
PREMIUM CONTENT

Cabot Energy has been thrown a temporary lifeline - but I still wouldn't touch the shares

Cabot Energy (CAB) suddenly seems to have become very popular for such a small AIM oil company, and given the recent news on a forthcoming discounted fundraise, I’m surprised that people are paying a huge premium to that.

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ProPhotonix – RNS Reach does prove a portend; now “reviewing all funding and strategic options available”

Earlier this week I cautioned on ProPhotonix (PPIX), new laser diode ‘delight’, but it’s an RNS Reach having questioned its financial strength. Now first half of 2019 results – and the shares currently at 2.25p, approaching 30% lower…

Collapsing-Reactor
PREMIUM CONTENT

Neil Woodford Redemptions Watch: a modicum of outperformance……except at WPCT (ouch!)

Neil Woodford’s benchmark for his Equity Income Fund (WEIF) and Income Focus Fund (WIFF), the FTSE All-share index, dropped by 0.41% yesterday but the good news for Neil is that WEIF and WIFF posted gains in NAV per share, with WIFF up by 0.26% and WEIF up by 0.23%. Hurrah – for one day only, he’s beaten the benchmark!

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MRS
MRS

Oooo Er MRS, the comedy shit show continues – shares in Management Resource Solutions suspended

Shares in this posterboy for the AIM Cesspit fell in morning trade. Pure coincidence natch! Nothing to see here officer, move along quickly please. At 2.20 PM the Oxymorons at AIM Regulation suspended trading in a company we have pointed out is drowning in debt and red flags and is almost certainly worthless on many occasions as you can see HERE. At 4.01 PM Management issued a statement. You cannot make this shit up. Only on the AIM Cesspit.

PPC
PPC
PREMIUM CONTENT

President Energy can weather the ongoing wider economic problems in Argentina – speculative buy

President Energy (PPC) has taken a hit recently based on the fact that the bulk of its current oil and gas production comes from Argentina – but longer term that could present a buying opportunity...

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AVO
AVO
PREMIUM CONTENT

Advanced Oncotherapy – fundraise via equity and debt ( bit more needed by Christmas, headline misleads)

AIM-listed Advanced Oncotherapy (AVO) announced a fundraise on Wednesday – great news! Or is it? I wonder how much cash it will actually have when all the money comes in – and why, AFTER the fundraise, did researcher-for-hire Hardman produce a report telling us all what a bargain the company is? Then there are loan and outstanding salary conversions and the total – £18.4 million – is still short of a year’s spending, and won’t all arrive until the end of September. It looks a bit desperate – especially when the loan to top up the equity raise will cost up to 15% a year in interest.

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GFS
GFS
PREMIUM CONTENT

Spin City at G4S

Just one of those days in the crop of larger cap regulatory news disclosures today. I cannot get excited about either William Hill (WMH) or WPP (WPP) but the market appears relatively enamoured, so this brings us to a stock that historically I have loved to hate: G4S (GFS)

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PREMIUM CONTENT

Who is crazy enough to be buying MySale after such a big spike - sell

When the share price of a small company suddenly rises by more than 240% on no apparent news I am always left wondering who on earth is actually buying after such a huge rise. Often those who are end up getting severely stung, especially when the company itself issues a statement saying that it notes the share price rise and clarifies the current situation and that there is no current reason for it, and that is exactly what seems to be playing out with MySale Group (MYSL)...

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PDL
PDL
PREMIUM CONTENT

Petra Diamonds remains a speculative buy and could still turn the business around

Petra Diamonds (PDL) is a company that I covered back in March and so far I have been wrong about it having potential as a speculative investment, as the share price has just taken another big drop.  

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PREMIUM CONTENT

Hammerson – head still stuck in the declining NAV sand

I noted back in February that property group Hammerson (HMSO) had ludicrously turned down a Hail Mary bid approach - at approximately a 70% share price premium to the then share price - and was consequently (correctly) being hassled by activist investors. Roll forward five months and all of this counts for double with the shares driven lower by further property sector pessimism…

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Rivals Make It Hard for Sainsbury to Boost Low Profit Margins so the Share Price Could Wobble

Hello, Share Scramblers. Of all the British supermarkets, I suppose I have the least expectations of Sainsbury (SBRY). And I’m rather glad I dumped my shares a couple of years ago. A look around my local branch, while not being that reliable, doesn't inspire me too much. There seem fewer customers these days...

SOU
SOU
PREMIUM CONTENT

I remain to be convinced that any asset sale will justify the valuation of Sound Energy

A couple of weeks ago I covered Sound Energy (SOU) and its recent disappointing drill results which appeared to cement its fall from grace as a favourite amongst private investors. At the time the share price was around 8.7p and I mentioned the fact that some of the placees from the recent equity fundraising of $2.7 million net at 10p would likely be looking to try and create a spike to sell into. Since then I have seen all sorts of rumours on social media, including one that a single shareholder took £3 million of placing shares – which is more than were actually issued!

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IMB
IMB
PREMIUM CONTENT

Imperial Brands goes progressive on its dividend...and the market likes it

I found it interesting that the comment that was written to my article about the challenges of high headline dividend yields asked about my views on Imperial Brands (IMB). I took the view that for the tobacco giant it actually was more of an opportunity than a threat because I could not see the scope for the dividend to be cut because of what I perceive as the strengths of its cash flows. And actually this is how it seems to be working out...

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SHI
SHI
PREMIUM CONTENT

SIG proving you can't cost cut your way to growth

I think it was after some great storm which had ripped up a few thousand roofs that I first became aware of SIG plc (SHI), which describes itself as a 'leading European supplier of building materials'. A fund manager colleague of mine was all over it like a rash and I remember one old-hand responding at the time 'SIG is easy...you buy at one quid and sell when you have made a decent turn'. Looking at the company's share price chart over the last decade, this advice has been pretty spot on…

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GNK
GNK

Fierce Competition Could Curb the Ambition of Jolly Greene King

Hello, Share Counters. Some time ago now I commended jolly Greene King (GNK) to your further scrutiny, but now I’m not so sure. I probably wouldn't buy shares in the big pub/caterer today. The latest figures - full year up towards the end of April 2019 - are rather disappointing...

TLW
TLW

Tullow Set to Recover in the Wake of Oil Price Rally

Hello Share Peepers. Having dumped most of my smaller oil companies to concentrate on giants like Shell (RDSB) and BP (BP.), I still find myself with the second-tier oiler Tullow Oil (TLW). About ten years ago I was nursing huge paper profits on this one. But there has been a gradual erosion, so now I’m back to par...

SOU
SOU
PREMIUM CONTENT

If it Sounds too good to be true, it usually is! Sound Energy Post Mortem

Sound Energy (SOU) has proved to be a great example of why private investors shouldn’t get too far ahead of themselves and start ordering a new Ferrari, based purely on early results in any company drilling for oil and gas.

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LEK
LEK
PREMIUM CONTENT

Lekoil – how was my crystal ball?

After pontificating on the position of Lekoil (LEK) prior to the results, it merits a review now that the results have been issued. So how did I do with my crystal ball, and where does it leave the company? 

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AHT
AHT
PREMIUM CONTENT

Sell Ashtead unless you love the US of A

Another results statement from construction-related equipment hire company Ashtead (AHT), which I last wrote about back in December. To cut to the chase, my basic advice is the same; as I noted back then…

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KIE
KIE
PREMIUM CONTENT

Neil Woodford disaster Kier turns into omnishambles, shares slide (AGAIN) by 10%

You heard it here first, folks: I said Kier would drop its dividend and today it has for the next two years. But worse still, it has now ‘fessed up that (even after the disaster that was the rights issue which fell to the underwriters) it is over-indebted. This morning’s statement is a horror show from start to finish.

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ASO
ASO

I was wrong about Avesoro - it is now uninvestable after the latest update

A lot of the time there is very little that you can do to avoid bad news coming out of the blue, and even less so where the directors of the company have previously tried to make out that the situation is far more positive than the reality. That would definitely seem to be the case with African gold miner Avesoro Resources (ASO), and if anything proves that I should stick with my gut feeling when something doesn’t quite feel right about a company...

EQT
EQT
PREMIUM CONTENT

Eqtec is drowning in debt - will it ever issue an update with any real substance?

Regular readers of Share Prophets will know that I’m not exactly a fan of Eqtec (EQT) and have been far from convinced by all the very vague news releases coming from the company, and that opinion certainly hasn’t changed as it seems to provide even less these days by way of actual exact details.

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ASO
ASO
PREMIUM CONTENT

Avesoro Resources is a speculative buy at the current share price

Avesoro Resources (ASO) is a good example of what can happen to a share where there is a forced seller and generally low liquidity in the trading of the shares.

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TLA
TLA

TLA Worldwide – after more than 5 months of Australian business sale discussions… “discussions… continue”!

TLA Worldwide (TLA) has updated that “further to the announcement of 19 December 2018, TLA confirms that its discussions relating to the sale of its Australian business continue. In order to allow these discussions to be concluded, the period of forbearance granted by SunTrust Bank has been extended to 29 August 2019. There can be no certainty that any transaction will ultimately be forthcoming, nor can there be any certainty as to the terms of any such transaction”. Hmmm…

VOD
VOD
PREMIUM CONTENT

Sunday is not a day of rest for management at Vodafone, BT Group and FirstGroup

I quite like working on a Sunday as it gives me a chance to feel fully prepped when markets start moving about come Monday morning.  However I am sure there was some spluttering over the cornflakes and coffee for anyone associated with Vodafone (VOD), BT Group (BT/A) and FirstGroup (FGP) given the various mentions all three corporate names garnered in the deadwood press.  Looking at it dispassionately though from the perspective of shareholders, I think we can characterise the news out there as the equivalent of the good, the bad and the ugly. 

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IMB
IMB
PREMIUM CONTENT

Imperial Brands – what will make the shares go up?

I have been a supporter of the shares of Imperial Brands (IMB) for a while now, including noting back in September last year that 'the shares should be in the £30s at the very least. I remain a non-user of their products...but a buyer of their shares'. Well that might be my aspiration...but reality has been somewhat shabby with the shares currently revisiting the sub 23 quid level for the second time in six months. So what is going on?

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CNA
CNA
PREMIUM CONTENT

Centrica is out of favour but has recovery potential longer term

The past couple of years haven’t been great for FTSE100 stock Centrica (CNA), including the share price having halved during that time, but it could have recovery prospects from the current share price...

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VCP
VCP

Victoria plc – “Results To Meet Expectations”… Or Not?...

“FY Trading Update: Results To Meet Expectations” announcement commencing “Victoria PLC (LSE: VCP) the international designers, manufacturers and distributors of innovative floorcoverings is pleased to provide the following trading update”. At the company’s prior year-end, the shares were well above 700p and it was “confident it will deliver another year of significant, earnings-accretive growth in the 2018/19 financial year”, with also “geographic and product diversification, coupled with the low operational gearing inherent in the business, reduces the group's overall operational risk”… The shares are now below 550p. Hmmm…

PREMIUM CONTENT

Intu Properties – continue to avoid after another shocker

I have been a long-term bear on Intu Properties (INTU) and have not been surprised to see over the last few months a variety of corporate challenges which have justified the continued fall of the share price. Let's face it: being the owner of shopping centres is kind of obviously not an easy business to be involved with currently…

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