Mining Services Stocks

[galumay]

Am I the only one to see early signs of demand in this sector?

There are certainly more dogs than darlings. I'm interested to see the two big names, MND and WOR climbing off recent lows. Both stocks have gone XD and yet their prices are being bid up.

I hold both MND & NWH as contrarian investments in a train crash of a sector, there is no recovery in reality, MND's H1 was not as awful as it might have been and they did maintain a dividend. There will be a few yield chasers in there supporting the price.

You need to have patience and a long term view to hold these babies!

 

[peter2]

yeah, got to love those yield chasers. They'll chase a 0.43 div and ignore the subsequent 1.00 price drop.

What about WOR, damaged sector with a damaged commodity?

 

[VSntchr]

Am I the only one to see early signs of demand in this sector?

There are certainly more dogs than darlings. I'm interested to see the two big names, MND and WOR climbing off recent lows. Both stocks have gone XD and yet their prices are being bid up.

MND dropped from 9.80 to 8.40 post the dividend...which was a bit extreme IMO...so just a bit of a short term correction to the upside here

 

[skc]

Am I the only one to see early signs of demand in this sector?

There are certainly more dogs than darlings. I'm interested to see the two big names, MND and WOR climbing off recent lows. Both stocks have gone XD and yet their prices are being bid up.

The sector has been strong of late (i.e. past 2 sessions), but there have been plenty of up spikes in this drawn out downtrend. Question is whether this is THE ONE...

There was an article on the Fin Review quoting some large Canadian mining services outfit looking for acquisition in Australia, particularly in the oil and gas area. WOR fits that bill pretty good and probably explains majority of the rally / short covering.

 

[notting]

The sector has been strong of late (i.e. past 2 sessions), but there have been plenty of up spikes in this drawn out downtrend. Question is whether this is THE ONE...

There was an article on the Fin Review quoting some large Canadian mining services outfit looking for acquisition in Australia, particularly in the oil and gas area. WOR fits that bill pretty good and probably explains majority of the rally / short covering.

WOR More like insider trading before today's big contract announcement that had no figures to go with it so people are still hoping it's a boomer so the up trade continued today on the thought, 'well if the insiders were so happy as we don't know the full deal yet then let' back them.'
Soon to reverse.
Not nearly time for The One. The world will look very different when that happens!

 

[peter2]

WOR and MND seem to be holding on, while many others are "slip sliding away".

IMD, BOL, EHL, NWH, BKN Their charts look horrible.

 

[leyy]

WOR and MND seem to be holding on, while many others are "slip sliding away".

IMD, BOL, EHL, NWH, BKN Their charts look horrible.

Add LYL to the list too

 

[peter2]

This sector is having a nice rally along with the price of oil.

The prices in MND, WOR, MAH, RCR, UGL, SVW, ASL, BLY, MLD are well off their recent lows.

As I'm a chart trader I'll be waiting for higher lows or a broad sideways range (basing pattern) for my buy signals. It's good to see that there is demand for this sector and it signals an improved outlook for a rally in the broader market.

 

[Paavfc]

TPP blue chip management..

 

[ThirtysixD]

This week I bought into CMI for my partner and I.

I thought it was good value at 2.5 EV/EBITDA.
34m Cash after divesting TJM at the beginning of the year.
Highly leveraged to the mining industry (coal in particular) but electrical division is still profitable.
Special dividend or acquisition is highly likely.