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CMR - Compass Resources

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Having sold out of CMR in the mid $5 I am stunned to see it fall to mid $4 over the past week. Nothing has changed fundamentally except the progress towards production so to see a what was a favored stock fall this far is a mystery.

Markets never lie but I suspect todays drop was traders locking in losses prior to the end of the tax year and a little bit of panic selling thrown in. Whatever, I see it as a buying opportunity at these prices and couldn't resist getting back in.

Personal opinion only but way oversold at it's current price...good accumulation time.
 

Tax loss selling??????

It has a annual return of 35.15% this year, 3.30 was the opening value in June 06.

I agree nothing has changed and it could well be oversold, but I highly doubt todays movement was spurred by tax loss selling speeves.......

Cheers
 
A fair amount of volume in Feb - Apr at $5+. All will have made a loss in the past month. One way to mitigate that loss will be to sell prior to 30 June against profits from other more profitable stocks. Why carry a loss over into the tax year when you could effectively reduce the loss against your top tax rate?
 

Speeves, I definitely understand the concept of tax loss selling, but I just personally don't think that CMR is a target.

CMR is just looking weak....... To me it looks more like a few stops were triggered at a crucial level.

If you want to view tax loss selling, view SIP, CDR, RMD, etc..... Most tax loss sellers are longer term holders. The longer term holders in this stock are well in the money.....

Cheers
 
Whilst at work I was powerless to amend my entry order @ $4.59 . What has suprised me about this share ,is the fact that it has been tightly traded ( or held).To see it crumble in late trading to what? $4.46????? is clearly nervousness on the shareholders behalf.
Personally with production (to date) is running on schedule ,I fell content to hold,but do feel a bit of a fidget over the price paid today. I'm locked in for now!
 
CMR great recovery today on such a slow weirdish type day waiting for wednesday fed meeting in the U.S for some direction i guess, up 5.83% not to shabby at all. bang closed above the 4.70 marker nice bounce.
 
I think the major factor in the SP drop is due to the delays in production. The company still has amazing prospects.
 
6 mil shares sold Friday which capped the price.
I topped up with another 8000.
I don't think it'll hang around these levels for very long.
 
Did I miss something again today CMR shot up 52 cents ....It must be bad news on the horizon again.......:
 
Stocks like these are gonna perform well during volatile times such as what we are seeing now. Commodities will be the choice and should see gains in August for quality companies, I predict.
 
Well I sold out last week for better opportunties. Management is out of favour with the market.

Is anyone still following this stock?
 
Yes I'm still holding ,and if the share price drops I will buy more of this stock. From memory I think the errors of this share is when the production will commence with new plant being built,at present its running behind schedule.Naturally if there are further delays ,pressure will effect this share,unless China swings into a downturn then lots of shares will be buried ......
So yes watching and holding
 
I am still in and thinking seriously of doubling up based upon strong market vibes supporting what my broker has been saying for the past year (i.e. share price should reach $1.50 most likelt through a takeover offer).

He is pretty good at picking a winner with past successes including ZFX, JBM, AED & STS. His more recent recommendations including GWR & RDR with suggested price targets of $5+ & $1.30 respectively.
 
Thanks 3V and GF.

GF - can I ask which broking firm you are using? Also the sp reaching $1.50? It's $3.77 now.
Were you advised as to who might make the TO offer? Some sort of TO has been slated for a while, but thus far it's only been a possiblility with no rumours emerging to my knowledge. I would be interested to find out more of course so if you could point me in the right direction, that would be appreciated.
 
I apologise to all & withdraw my earlier post. Whilst I do hold CMR, I was talking about CTS. Big mistake. Too much vino, I think.
 
Hey 3VOAS,

Did you top up? I can't seem to be able to buy. Still in a down trend and not looking healthy.
 
No I have not topped up ,but am ,or lets say I have considered buying them for my wife's portfolio.....I took the plunge with AFG instead .......I still think this share will move early next year ,currently as I understand there are problems ,but hopefully will be ironed out. After veiwing the share screen these last 2 days ,I get the impression the market is sliding down (obviously just look at the ASX).
Re: CMR ....I got in at $4.59.....but still content to hold!
G'luck
 

Do you still hold CMR??

Looking to buy back in. Haven't held in the past but it looks like a good thing at todays prices.

Keen to hear anyone's feedback regarding Compass Resources
 
Ive brought CMR recently
I thinks its good buying at these levels!!!!!
Westpac Broking also have it as there pick of the week to buy
 
I tend to agree, at the current price it certainly seems under priced given that there are valuations in the $6+ area. Poor sentiment has driven the SP down way below an fair valuation due to disappointment over management errors. The fundamentals for the company are still in place and this will be a major producer by the end of this year so you would have to think a rebound is on the cards....eventually, although I wonder if it has any further to fall first.
 
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