BKN - Bradken Limited

[Miner]

Re: BKN - Bradken

I noted BKN as a buy recommended by Huntley (on 4 and 6 Feb), Inter Suisse, Bell Potter (on 5 Feb).
Directors bought the share at much higher price than what is today.
Market got plunge but this little foundry kept head strong and upright.
I personally believe with Adelaide Foundry expansion there is good show from this company.
IMO $7 is good price now with half yearly result isout.

Good luck

 

[Miner]

Re: BKN - Bradken

Fact is stranger than fiction

Today Commsec Research recommended BKN as BUY/ Outform.
On the same day ASX has reported CBA has ceased to be a major share holder.
Does not match: who ramped whom ? If Commsec is so sure on its research then why they sold off?

Probably as some one said when all brokers agree it as BUY then you SELL. and Vice versa. I have followd this for Bell Potter recommendation - whey they say buy then I sell. They hardly said SELL so I buy using some research and some punt.

Cheers

 

[pajm]

Re: BKN - Bradken

I hold NXS and I remember someone noting on the thread once when CBA sold their holding that were still buying them for their super (don't know how they knew) so not too sure if they are doing same here. CBA have been yo yo with their holding - briefly in Dec. and now again. So.........who knows!?

 

[Muschu]

Re: BKN - Bradken

Hi
I noticed in the Eureka Report [8/2] reference to AFI "picking off some bargains, such as Bradken."
I gather they bought around the $6 mark. [Currently just over $7].
With a 12 m high of over $15 is there any consensus here as to reasonable expectations for 2008?
Thanks
Rick

 

[Muschu]

Re: BKN - Bradken

It seems CBA is once again [rapid turnover] a major BKN holder. Is this correct? I think an announcement of 7/2 said they'd ceased to be a major holder and one of y'day said they were back in again.... Strange world.

 

[Judd]

Re: BKN - Bradken

Muschu,

It is not CBA itself. It is different organisations, possibly with different boards and investment officers, which may be associated with CBA. Best sometimes to look at the actual schedules attached to the ASX announcement rather than relying on the headline .

Cheers

 

[Muschu]

Re: BKN - Bradken

Thanks Judd. I realised that but also wondered, as CBA associates, about renewed confidence from that area re BKN.

 

[Miner]

Re: BKN - Bradken

For the benefit of all I have attached two announcements from CBA in ASX. The announcements were meant for CBA shareholders - so no matter how many associates are there the net owner is CBA share holders.
Commsec recommended strong performer and a bUY for BKN on 7th Feb report. Ironically on 4 Feb they lost the major shareholder status by selling off BKN. Once again on 7 Feb they became again major shareholder. Where is the change of science in 3 days for so good risk managers, bla bla and astute buying. Like any horse trader they behaved and that is why the banks get sucked into sub prime , bad category etc areas making the whole market in turmoil.

Enjoy with two reports and surely many of us have seen it.

 

[oldblue]

Re: BKN - Bradken

Three directors have announced increases to their shareholdings.

Only a few thou but good to see them putting their money to good use.

 

[Judd]

Re: BKN - Bradken

For the benefit of all I have attached two announcements from CBA in ASX. The announcements were meant for CBA shareholders - so no matter how many associates are there the net owner is CBA share holders.
Commsec recommended strong performer and a bUY for BKN on 7th Feb report. Ironically on 4 Feb they lost the major shareholder status by selling off BKN. Once again on 7 Feb they became again major shareholder. Where is the change of science in 3 days for so good risk managers, bla bla and astute buying. Like any horse trader they behaved and that is why the banks get sucked into sub prime , bad category etc areas making the whole market in turmoil.

Enjoy with two reports and surely many of us have seen it.

What on earth are you on about? It is nominee companies, Citicorp, National, and the like which are doing the buying/selling (Refer to the schedules attached to the notices). It is NOT CBA itself. Stop misleading or, preferably, just reading the headlines and nothing else.

 

[Miner]

Re: BKN - Bradken

What on earth are you on about? It is nominee companies, Citicorp, National, and the like which are doing the buying/selling (Refer to the schedules attached to the notices). It is NOT CBA itself. Stop misleading or, preferably, just reading the headlines and nothing else.

Dear Judd

Thanks for reading my post.
I would take extra caution on a report saying misleading when the reports are exactly reproduced.
The holdings were announced by CBA and not created by me.

If you do not like the announcements PLEASE do not read them. But PLEASE do not call it was misleading.

I have an excellent vocabulary to say some thing else to respond you. However my school teacher always advised me that "human does not bite a dog even a dog bites a human"
Enjoy the forum

 

[tony montana]

Re: BKN - Bradken

any news on the front out there about bradken...there must be something positive about this stock

 

[Miner]

Re: BKN - Bradken

I was advised by BPS broker that BKN due to very high debt equity ratio is not favoured by many people at this moment though technical capability is very good. Further with stronger dollar value (my opinion) BKN cost of production is high. They I believe have a chinese operation but overall a bit pricy.

Regards

 

[pajm]

Re: BKN - Bradken

Makes me wonder miner about brokers saying about high debt equity ratio when I consider AFIC holding. BKN came on my radar as a result of AFIC initial holding in 2005. They sold and came back in January this year, and I topped-up as a result. There is a good article in Melb. Age today with Bruce Teele from AFIC. He mentions how they got out of ABC, Centro and some of Asciano over past 12-18 months as a result of debt levels related to expansion - good calls. AFIC are conservative, so hopefully they have got it right with BKN. I back them accordingly but will monitor though to see if they continue to hold.

 

[tony montana]

Re: BKN - Bradken

six weeks since any posts on this stock and its gone up by 25% in that time with no announcements.... cant wait to see what will happen when some good news come out about bkn.

 

[oldblue]

Re: BKN - Bradken

BKN up 45c today on no news. In fact, no news since the confirmation of profit guidance a few weeks ago.
Any thoughts out there?

 

[pajm]

Re: BKN - Bradken

Not too sure oldblue. Market a funny beast at the moment. Hoping it may have run over 8 with that recent run but stalled, reflecting overall market turning sth. again.

 

[prana]

Re: BKN - Bradken

It's not a strange world. Holdings get xferred from one trust to the other come June, to offset against gains and losses. Many funds are measured on yearly gains and losses. Like it or not, that's your call. Even better, sometimes, massive losses see even lower Junes, and a small rebound in July.

 

[oldblue]

Re: BKN - Bradken

It's not a strange world. Holdings get xferred from one trust to the other come June, to offset against gains and losses. Many funds are measured on yearly gains and losses. Like it or not, that's your call. Even better, sometimes, massive losses see even lower Junes, and a small rebound in July.

I don't know that that's got a lot to do with BKN's SP. No sign of unusual turnover which you would associate with window-dressing by Funds.

 

[prana]

Re: BKN - Bradken

oldblue - I was being a muppet and replying to Feb/March posts re change substantial holdings ... feel free to ridicule, I'm happy to be the clown of the day :