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Celebrating a small success with extra tuna for all
For reasons which allude me SIV finished up 4.4% on the day.
It had already made up all of the the drop from the late July announcement so sitting on a 23% gain in less than 3 months.
Best Wishes
Paper Tiger
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I will not get the tuna back
For reasons that also allude me, it has given the 4.4% back and is where it was 3 days ago.
The joys of the ASX .
Best Wishes
Paper Tiger
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An AFR headline reports a major fraud at SIV. Article is behind the usual paywall.
Shareprice is down 11.5% today.
Last edited by macduffy; 18-11-2016 at 02:31 PM.
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Just seen this ; missed a golden opp at or below $9(currently $9.73). $3 million fraud.
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Thanks, Tiger. Yet again I forget to consult the obvious source of news - official announcements!
Yes, Jt, a fleeting opportunity missed there. SIV is one of those stocks that I wish I'd bought a few years ago.
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Hoping to dip the silver spoon in to a pot of tasty fare
Half year is out and I sense a possible bargain in the offing.
As a result of the before mentioned fraud event then the headline is:
an EPS of12.85cps as opposed to last years 32.54cps and
a reduced interim dividend of 12.9cps down from 17.0cps.
Full year is expected to be in the 58.9 to 64.5cps range (down from 68.9cps).
Looking past the failings of this year and you are talking of a no growth scenario going forward of 78.6cps+ next year.
Add even modest growth and what is you valuation compared to the share price?
One of the things that baffles me with this share is that repeatedly the results come out as already flagged by the company and the market is really surprised!
Anyway we will see how low the market is willing to go and maybe go shopping.
Best Wishes
Paper Tiger
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Hi PT
I was very interested a while ago - on the surface they have a great track record and look cheap.
However, if you dig deeper their earnings are not so solid - see for example http://findthemoat.com/2016/12/01/silver-chef/
Last edited by DarkHorse; 21-02-2017 at 09:52 PM.
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EPS growth is still on, but the cash flow needs to improve down the track
Originally Posted by DarkHorse
Well I hope you treat these sort of articles with as much caution as you do my posts
Originally Posted by Paper Tiger
...Looking past the failings of this year and you are talking of a no growth scenario going forward of 78.6cps+ next year...
That should have been 68.6cps. A slip of the finger, sorry, I should have noticed .
But you will note that I suggested a no growth start, even if I did get the number wrong.
And then hinted that even a modest growth based valuation would offer upside.
So anyway, I believe under the above criteria it has a value of $8.10 now and $8.78 in a year.
I did stick a sub $7 bid in today, which obviously never got hit .
Best Wishes
Paper Tiger
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More bounce that a Tigger on springs
Well there is never a dull moment with this one is there?
UP 8.8% to $8.43 at close today on good volume:
That puts be back in profit overall and with a 20+% (unrealised) gain on my 3-Mar buy.
I will enjoy the moment.
Best Wishes
Paper Tiger
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