Keyword results: debt

PREMIUM CONTENT

The more I look at the Canadian Overseas death spiral convertible bond financing, the worse it looks

I recently wrote a piece criticising Canadian Overseas Petroleum (COPL), and as a result appeared to upset some people on the bulletin boards – not that I really care! – and having now looked more closely at its latest financing deal, I’m even more convinced that it is a company to avoid like the plague.

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CPI
CPI
PREMIUM CONTENT

If you got lucky with Capita shares four of five months ago, you should exit stage left now

Just under eight months ago HERE  I gave Capita (CPI) - which describes itself as “supporting the justice system through smart technology solutions” - a slightly alternative name.  I remember first using such an alternative name many years ago - and it is certainly neither unique or particularly smart.  But it kind of captures well the company’s struggles over the last seven or eight years where its share price contraction stands at well over 90%. How striking for a company which many will remember its epic 1990s (and initially beyond) performance.  

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PREMIUM CONTENT

Despite a rampy resources report, I'd continue to avoid Canadian Overseas Petroleum

Canadian Overseas Petroleum (COPL) seems to have been getting a fair bit of attention today after releasing an incredibly rampy resources update for its Wyoming asset, with the focus being on oil in place rather than actual reserves and what might be extracted.

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WG
WG
PREMIUM CONTENT

Wood Group - a Buy (again)?

Last year we banked a more than 40%, less than 7 months, offer-to-bid gain on Wood Group (WG.) at 300.3p. That proved good timing with the shares eventually falling back towards 150p before then recovering to above 250p again. However, they are now available at a 155p offer price and are again a Buy.

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VOD
VOD
PREMIUM CONTENT

The deep yawn continues at Vodafone

I talked about the “boring world of Vodafone” (VOD) back in April HERE. I am sure that some investors are excited about the stock’s year-to-date movement, but the last five, ten, fifteen or twenty years has been a bit of a shocker. I have (correctly) not owned the stock for ages but (finally) is it starting to change?

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PREMIUM CONTENT

AIM Dog Barkby – Year-End Update And “Strategy Update” Uh-oh!

AIM-listed Barkby Group (BARK) has released a trading update for its year ended 2 July 2022, along with an update on strategy. The former sees an unaudited bottom-line loss of £0.8 million whilst the latter implies there has been a strategic review – uh-oh!

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PREMIUM CONTENT

I think the Pets at Home share price drop due to the RBC downgrade was overdone - long term buy and hold

The way the markets are currently it feels like there is plenty of risk in buying anything, even in the sectors that are expected to remain strong in the coming months.

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ARS
ARS
PREMIUM CONTENT

Asiamet has been my worst mining investment with constantly missed deadlines - should I bail & give up?

Asiamet Resources (ARS) has turned out to be my worst ever investment in a mining company, in terms of percentage loss anyway, and has been a great example of what happens if as a company you continually miss deadlines.

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PNN
PNN

You Won't Live Long Denying Yourself what this Company Sells. So It's Probably a Safer Investment than Most

Hello Share Masters. We can’t live without water. Or sewage. Which means big water suppliers should keep our investment safe whatever the effects of inflation and the higher cost of living. Pennon Group (PNN) has been doing ok recently. Its latest figures show underlying revenue rose 22.9% to £792.3 million for the full year. The operating profit, the more important number, came in at £237.2 million.

Some Techno Companies Aren't On Fire Now but this Expanding Outfit could Be a Long-Term Winner

Hello Shares Splashers. Many of the techies haven’t been having a great time of it recently. Valuations have fallen as inflation starts to bite. But one company in the semiconductor business may have better prospects than most. It makes the components for mobile phones, broadband and so on. In its favour is a wider range of techno products than many of its peers. This makes the share more defensive. And investment in the techies is still attractive as it is, after all, the game of the future.

CNE
CNE
PREMIUM CONTENT

I think that Capricorn Energy shareholders are getting a bad deal from this merger with Tullow - Sell

I’ve been a fan of Capricorn Energy (CNE), formerly Cairn, for some time now and my investment there has done pretty well, but I probably won’t be holding for much longer now that it has announced a merger with Tullow Oil (TLW).

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Oil-Rig
PREMIUM CONTENT

Windfall tax on oil companies is unlikely to help convince investors that the UK is a stable place to do business and other sectors seem more deserving of one!

The new ‘windfall’ tax on UK oil and gas producers has been all over the news this week, and whilst many of the public seem to be celebrating the fact that these ‘evil’ companies and their investors are going to take a hit, I’m not so sure the new rules are quite so great.

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Gold
PREMIUM CONTENT

The View From The Montana Log-Cabin As Gold Tries To Rally

Gold closed the week at $1854 – a small improvement on last week’s $1847, but not yet enough to cure the sell-off in Gold stocks (although they did improve this week). So when are we going to see the great explosion I have been looking for since the start of the Covid crisis? I don’t think it will be long.

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AET
AET

The detail of the Afentra deal in Angola look good to me and I'm very happy to be holding

A couple of weeks back I wrote a piece here about how I was excited about the prospects of a small AIM oil company, Afentra (AET), where I hold a stake myself and which had just announced that it had potentially secured a stake in two blocks, subject to final due diligence. The company has now announced that it has entered into a sale and purchase agreement with the vendor, Sonangol, and has released a lot more information on the finer details of the proposed transaction – including the fact that it is expected to be funded from existing cash balances plus debt, and with no equity dilution to existing holders in order to complete the deal.

888
888
PREMIUM CONTENT

BUY 888 Holdings following completion of the funding of its acquisition of William Hill

The share price of 888 Holdings (888) has remained pretty weak during the completion of its acquisition of William Hill, and as a result of revenue in the final quarter of 2021 showing a substantial fall.

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888
888
PREMIUM CONTENT

888, William Hill and mad deal excitement

Are you excited to read that the FTSE-250 company 888 Holdings (888) – which regards itself as “one of the world’s leading online betting and gaming companies” – has pushed its share price up over 25% today after announcing progress with its efforts to buy the international (non-US) business of William Hill? After all we all know that online betting and gaming is seeing more and more demand. But will it be paying too much in an area which is already highly competitive?

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IMB
IMB
PREMIUM CONTENT

Still a buyer of shares in Imperial Brands

For a non-smoker it is a bit of a surprise that I am such a fanboy of Imperial Brands (IMB) shares. So what about today’s pre-close trading update?

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PREMIUM CONTENT

Another great set of results from Central Asia Metals and it remains a long term buy and hold

Central Asia Metals (CAML) is one of those companies which I think is consistently undervalued by the market, and although it carries some degree of geo-political risk, I believe that too large a discount is applied for that.

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Gold
PREMIUM CONTENT

The View From The Montana Log Cabin As Gold Moves Higher Again - $4000 by 2024?

Jordan Roy-Byre of TheDailyGold.com  is getting very excited about the prospects for Gold and Gold stocks, saying this week that now could be the last chance to buy cheap and that he thinks that we are in a bullish consolidation ahead of a major break higher in the next 2-5 months. Given that he is perhaps the most bearish Gold-bull around, it is a big call.

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ENQ
ENQ
PREMIUM CONTENT

The market reacted negatively to the EnQuest full year results but I can see long term potential - buy

EnQuest (ENQ) has just released its results for 2021 and the market didn’t seem to like them, judging by the reaction of the share price, which I find surprising as I think they actually made pretty good reading.

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KOS
KOS
PREMIUM CONTENT

As much as I like the future prospects of Kosmos, top slice whilst oil prices are so high?

Kosmos Energy (KOS) is one of those companies that has never seemed to be very popular on the London market but it has performed extremely well as oil and gas prices have risen.

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Gold
PREMIUM CONTENT

The View From The Montana Log-Cabin As Gold Corrects From Assault On Record High

Gold ended the week at $1922 – down from last week’s $1991 as the assault on the record high petered out. The Fed raised interest rates, the Bank of England hiked rates again, the Ukraine war continued with more horrific attacks and inflation was still there rearing its ugly head.

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PREMIUM CONTENT

Capital Metals could be on the verge of production - a speculative buy or not?

Capital Metals (CMET) has been covered in the past on ShareProphets, both positively and negatively, and, on behalf of a reader,  Tom Winnifrith asked me to take a look and give my latest thoughts on this Sri Lankan focussed miner. You see, we do read your emails.

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DFS
DFS
PREMIUM CONTENT

Still happy with Imperial Brands, still avoiding DFS Furniture

I was a little bit worried this morning, not because it was the Ides of March or anything like that but about how the Imperial Brands (IMB) share price might react to its announced observation of a “financial impact of an exit from Russia and the previously announced suspension of operations in Ukraine on our full-year guidance for FY22”.

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SHI
SHI
PREMIUM CONTENT

Stay excited about “born green in the 1950s” SIG!

Have you enjoyed the last week in the financial markets?  It certainly has been volatile but such is life in the stock market world and – as I have observed before – if you see volatility as more of a threat than an opportunity, get somebody else to manage your investment portfolio as it will make you a lot less stressed and a lot wealthier.  Meanwhile for us obsessed with the world of the financial markets the key always remains how you react.  And that brings me this morning to the just announced FY21 numbers of SIG (SHI).

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PREMIUM CONTENT

I know which out of Capita or DS Smith shares I feel lucky about (punk)

After the excitement of Wednesday’s market moves comes Thursday…which unsurprisingly after the down and up volatility of the last few days is a bit more boring. We could all probably do with it, although a regular bout of volatility is the markets for you (and I would have it no other way). As for today’s corporate updates, two strike me as being particularly noteworthy, Capita (CPI) and DS Smith (SMDS)

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MTC
MTC

Mothercare – its “Statement re Russia” very poor on various levels...

Mothercare plc (MTC) has made a “Statement re Russia”. As a “global specialist brand for parents and young children”, what does it have to say?…

PREMIUM CONTENT

For those who like taking big risks, Polymetal offers potentially huge upside if the situation in Ukraine is resolved - speculative buy

Currently the conflict in Ukraine is a huge risk for any companies operating there or in Russia, and even more so with further sanctions being put in place and proposed.

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PREMIUM CONTENT

IGas offers future potential as a diversified energy play - speculative buy

IGas Energy (IGAS) has been performing well recently in terms of the share price, but following the latest trading and reserves update it has taken a bit of a hit and pulled back more than 14%.

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Gold
PREMIUM CONTENT

Postcard from the Montana Log-Cabin: Inflation, Inflation!!

The all-important inflation data for January in the US has come out. Anyone still taken in by the Fed’s “transitory” description of the thief in the night will be sorely disappointed and the pie-in-the-sky wishful thinking that saw people thinking that inflation might moderate in the face merely of threats of rate rises have had a bit of a shock.

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PREMIUM CONTENT

John Menzies – possible offeror hits back at ‘opportunistic’ and ‘fundamentally undervaluing’, arguing “a compelling opportunity”...

The National Aviation Services business of Agility Public Warehousing Co. has noted the “Rejection of Unsolicited Approach” announcement from John Menzies plc (MNZS) yesterday and argues its possible 510p per share offer “represents a compelling opportunity for shareholders to realise full value for their investment in cash” and that it “is a disciplined investor… we urge Menzies’ shareholders to consider carefully… our offer”. So what to make of this?…

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PREMIUM CONTENT

Cineworld – trading statement ignores the elephant in the room

Cineworld (CINE) reckons that as the world emerges from the scamdemic its trading is improving helped by some really great movie releases. I am not quite so sure about that and today’s trading update misses out the most critical number investors need to see, the movement in the vast debts in which this company is drowning. That omission tells you all you need to know.

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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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PREMIUM CONTENT

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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PREMIUM CONTENT

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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PREMIUM CONTENT

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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PREMIUM CONTENT

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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PREMIUM CONTENT

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.

  • 493 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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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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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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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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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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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
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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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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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