PEM - Perilya Limited
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Ouch ! broke the $3 mark. For me this is over sold and represents great value. Still mining lead which has made up for any shortfall in the price of Zinc. No lead from the DOW so the market will go sideways unless metal prices go south again tomorrow.To buy or not to buy...that is the question
PEM could fall to $1.50 and still be lining up with a 5-7 year upward trend.
There is massive gapping from $3.40 south.....
Thus why I think its very volatile.
It's hard to pick a bottom for stocks like these, because they move so quickly when they do.
Confirmed downtrend for last 12 months you'd say. Well off all time highs.
EPS still looking good going forward. Counts for nothing when people are selling up though...
There is massive gapping from $3.40 south.....
Thus why I think its very volatile.
It's hard to pick a bottom for stocks like these, because they move so quickly when they do.
Confirmed downtrend for last 12 months you'd say. Well off all time highs.
EPS still looking good going forward. Counts for nothing when people are selling up though...
I agree and actually jumped in today 2.9. Healthy company that's been oversold over the last few months.
Very true. PEM has been very tightly linked to zinc in its trade.
In that light, zinc price was up again overnight. More than 4 percent. That is several rises in a row now- infact it has turned around and climbed ever since China did its allowance in its market of allowing a thirteen percent drop to muster support for it, which worked.
Also PEM, looks like being able to diversify into copper, somethign ZFX would liek to do. Have you heard the interview about Mount Oxide that was out yesterday? Looks like the area is good not just for copper but also cobalt and may be good for more extensive mining as well as open cut.
If I had the money I would probably be buying in around now. Within a week anyway. But the share represents great value for money right now in my view.
In that light, zinc price was up again overnight. More than 4 percent. That is several rises in a row now- infact it has turned around and climbed ever since China did its allowance in its market of allowing a thirteen percent drop to muster support for it, which worked.
Also PEM, looks like being able to diversify into copper, somethign ZFX would liek to do. Have you heard the interview about Mount Oxide that was out yesterday? Looks like the area is good not just for copper but also cobalt and may be good for more extensive mining as well as open cut.
If I had the money I would probably be buying in around now. Within a week anyway. But the share represents great value for money right now in my view.
http://www.mineweb.net/mineweb/view/mineweb/en/page36?oid=40698&sn=Detail
More positive news for PEM
But guess what share price still falling...
What does this mean, other than very frustrating times. or does it mean get some margin loan happening....
Speaking out loud.
Still trading on a silly forward looking PE ratio.
More positive news for PEM
But guess what share price still falling...
What does this mean, other than very frustrating times. or does it mean get some margin loan happening....
Speaking out loud.
Still trading on a silly forward looking PE ratio.
Ken;229060[url said:
I purchased PEM late last week and sold today. I made a small profit (paid my brokerage). To be honest I forgot why I sold!!! .....oh I remember, was to buy more Allco Finance after the citigroup cash injection which was designed to calm those exposed to the sub-prime fallout. (correct me if I'm wrong)
I've just had another look and PEM still seems like a good thing. (guess that's why I purchased last week huh) Etrade research shows, 4 strong buys, 3 moderate buys and one hold.
I've only been trading for 18 months but I learnt early on, that most of the people in the Market are sheep. I don't mean that in a rude way, but often it takes someone to make the first move. If the price stays the same or lower this week I'll probably buy back in. I don't think we'll have to wait long for PEM to turn around. I think a positive increase in a commodities price could be all it takes.
My 2c
Yes very good to see that news- also reported here. Very glad they are on track with that sale as expected in their outlook for this quarter.
http://www.news.com.au/adelaidenow/s...55-913,00.html
"THE first shipment of zinc silicate ore from Perilya's Beltana mine has been loaded at Port Pirie, bound for China.
Perilya said yesterday one of the largest users of zinc silicate in the world had pre-paid for the 10,000 tonne shipment, with a second shipment planned for January....
Currently, 160,332 tonnes of high grade zinc ore at an average grade of 39.2 per cent zinc and 80,112 tonnes of low grade zinc ore at an average grade of 16.1 per cent has been mined and stockpiled on site, ready for shipment to Port Pirie.
Sales of the ore were expected to continue for another two to three years."
Zinc 2479.0000 +104.0000 +4.3789 USD/t Mkt Close, Nov 28
Yes it appears it has finally reversed its trend. However Lead wasn't very impressive:-
Lead 3022.5000 +20.5000 +0.6829 USD/t Mkt Close, Nov 28
We need a better turnaround in lead as well to see it back up near $4.
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PEM - PERILYA LIMITED
Credit Suisse rates PEM as Outperform - A positive for the company is it has begun to ship ore from the Beltana Project, but as the broker notes zinc prices are currently below its forecasts and this implies downside earnings risk.
Despite this the stock remains cheap in the broker's view as even on spot earnings it estimates the shares are trading on a FY09 P/E of around 5x.
Target price is $5.00 Current Price is $2.92 Difference:$2.08 - (brackets indicate current price is over target). If PEM meets the Credit Suisse target it will return approximately 71% (excluding dividends, fees and charges - negative figures indicate an expected loss).
The company's fiscal year ends in June. Credit Suisse forecasts a full year FY08 dividend of 14.80 cents and EPS of 60.20 cents . At the last closing share price the estimated dividend yield is 5.07%. At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 4.85.
Credit Suisse rates PEM as Outperform - A positive for the company is it has begun to ship ore from the Beltana Project, but as the broker notes zinc prices are currently below its forecasts and this implies downside earnings risk.
Despite this the stock remains cheap in the broker's view as even on spot earnings it estimates the shares are trading on a FY09 P/E of around 5x.
Target price is $5.00 Current Price is $2.92 Difference:$2.08 - (brackets indicate current price is over target). If PEM meets the Credit Suisse target it will return approximately 71% (excluding dividends, fees and charges - negative figures indicate an expected loss).
The company's fiscal year ends in June. Credit Suisse forecasts a full year FY08 dividend of 14.80 cents and EPS of 60.20 cents . At the last closing share price the estimated dividend yield is 5.07%. At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 4.85.
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Zinc prices zoom by 15%
MUMBAI: Zinc prices have moved up by over 15% in the week on London Metal Exchange making it the top gainer of all commodities during the week ended December 1.
On LME the 90-day contract closed at $2,590 per tonne from about $2,252 last week. On MCX, zinc December contract closed at Rs 102.95 from Rs 92.35 last Friday. The domestic spot prices also rose due to increased demand by stockists.
http://economictimes.indiatimes.com/Markets/Zinc_prices_zoom_by_15/articleshow/2588655.cms
MUMBAI: Zinc prices have moved up by over 15% in the week on London Metal Exchange making it the top gainer of all commodities during the week ended December 1.
On LME the 90-day contract closed at $2,590 per tonne from about $2,252 last week. On MCX, zinc December contract closed at Rs 102.95 from Rs 92.35 last Friday. The domestic spot prices also rose due to increased demand by stockists.
http://economictimes.indiatimes.com/Markets/Zinc_prices_zoom_by_15/articleshow/2588655.cms
Good to see Credit Suisse rating this stock as one of its 4 hot picks in a recent news article. Also it can only be good for PEM that its holding in Herald is worth more because of the takeover bid for Herald by Bumi. Also recently rated by Huntley's as currently worth 3.55.
We are holding. I can't understand why people are selling unless it is a quick profit take.
We are holding. I can't understand why people are selling unless it is a quick profit take.
UMike
Klutzing in Thai
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Well it got hit hard today.
Wish I sold half my holdings for $3.55 recently.
I too still am very positive about this stock.
michael_selway
Coal & Phosphate, thats it!
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Well it got hit hard today.
Wish I sold half my holdings for $3.55 recently.
I too still am very positive about this stock.
Do you think a short mine life is an issue with PEM?
Earnings and Dividends Forecast (cents per share)
2007 2008 2009 2010
EPS 7.8 22.5 35.8 54.5
DPS 6.0 4.8 15.9 12.7
Thx
MS
