MCY Mercury NZ ( MRP Mighty River Power)

[peat]

Wolf, I threw a few numbers around in the pre-float thread.
http://www.sharetrader.co.nz/showthr...r-float/page86

post #90 and #95 on 23/7/12 not an actual val, just some historical trends . Conclusion was ROE trending down, revenue static . There is more data available now of course

[Wolf]

Cheers peat. Anyone know a broker firm that has done some forecasts? I don't really know much about the energy industry and have come to the conclusion that i cant create an accurate forecast. (yea i know stick with what you know) but i've got them so i'm trying to get my head around a fair price.

What is interesting is tangible book value:
From the 2013 annual report after taking away intangible assets i get net assets of:

Total Assets- Intangible assets- liabilities
5802055 - 52045 - 2620307 = 3,129,703

Can't find units anywhere so assuming this is in Millions.

Total shares 1.4b

3.1b / 1.4b = $2.21

At a close of $2.18 it is trading below that...


Have i made a mistake somewhere?

Disc: New to value investing, figures may be incorrect.

[bryndlefly]

on the ASB securities site the top volumes list shows $9,536,132.62 turnover today, but on the details tab for MRP it says $49,153,643 turnover. Am i reading something wrong? Either way a pretty high turnover, i can't find any announcement about it.

[winner69]

It was $49 million

A lot of things happened at the end of the day .... including index changes

[Xerof]

wots your P&F chart showing now winner? must have turned bullish?

[winner69]

wots your P&F chart showing now winner? must have turned bullish?

That was for MELCA ... and that even has a green X after today

I dial MRP up on the Clever Point and Figure Charts on the iPad latter to have a look

[Xerof]

Oh yeah, sorry, so it was

[Harvey Specter]

I agree. Boards should not treat holders as moron and should fully reason using any and all maths as to why they consider it better than other options. This would also give us some assurances that boards actually know what they're talking about and can do the jobs holders appointed them to do.

I am sure their number one reason is:

"The current share price is depressed due to the absolutely ridiculous proposal set out by Green/Labour which we do not beleive will be implemented even if the general population are stupid enough to vote them into power in 2014"

However, if they had said that, the buyback would have been labeled "political" more than it already was.

[Vaygor1]

I am sure their number one reason is:

"The current share price is depressed due to the absolutely ridiculous proposal set out by Green/Labour which we do not beleive will be implemented even if the general population are stupid enough to vote them into power in 2014"

However, if they had said that, the buyback would have been labeled "political" more than it already was.

Here here HS. Very funny and sadly, very true. I think there are more reasons than just the Labour/Green policy, but it must be a contributing factor to the depressed share price imho.

If by some tear in the fabric of space-time continuum they are voted in then I doubt they will implement...... But if they did, I would see it as an opportunity.

History demonstrates that in any given year that the government tinkers with the power sector, market fear drives (in this case MRP's) share price through the floor; ie time to buy. What happens next is that the generating companies and lines companies make an absolute fortune during the transition period of switching from the old to the new mechanism/pricing model. At the end of that period, following announcement, the share price will go gang-busters; ie time to sell.

[warthog]

Short memory HS. The current National Govt took the punter's money and then set the price knowing full well that what the opposition's policy would be.

Exactly, Belgarion.

Ditto Meridian.

Contact - x punters
Mighty River - x/2 punters
Meridian - x/4 punters

Where punters, as a decreasingly significant grouping in the electorate, can be dismissed (by the government and others) as short-term speculators under water because of greed.