SWK - Swick Mining Services
- Thread starter benwex
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definitely interested in this stock. have been following it for some time and like the direction. seems to have a pretty high P/E but still way below its 52 week high. I am certainly contemplating a move in this direction sooner rather than later. don't hold any at the moment but hold a close competitor.
all my research indicated positive sentiment.
I'm know I'm not giving you much info but fundamentals look sound.
all my research indicated positive sentiment.
I'm know I'm not giving you much info but fundamentals look sound.
Hey all
I waited until the clear break above 45c on high volume (bought in avg price 52.5c) and it quickly went to 70c before retracing a little. It was up again today though and looks to be leveraged exposure to the recovery if you believe in it.
Personally I don't really believe in the recovery but if the director is buying more shares, the company represents good value, and is raising capital to expand the business rather than pay off debt like BLY (why I bought shares in them I'll never know), then I'm in for a couple thousand of them.
I bought BLY just as they broke resistance around 44c but then they went into a trading halt a few days later and subsequently tanked thereafter. You win some you lose some I guess!
I waited until the clear break above 45c on high volume (bought in avg price 52.5c) and it quickly went to 70c before retracing a little. It was up again today though and looks to be leveraged exposure to the recovery if you believe in it.
Personally I don't really believe in the recovery but if the director is buying more shares, the company represents good value, and is raising capital to expand the business rather than pay off debt like BLY (why I bought shares in them I'll never know), then I'm in for a couple thousand of them.
I bought BLY just as they broke resistance around 44c but then they went into a trading halt a few days later and subsequently tanked thereafter. You win some you lose some I guess!
SWK's recent announcement of a third North American drilling trial is a promising development. Worth remembering that SWK have a good record of converting trials to contracts.
Directors, particularly Swick family members have been steadily adding to their holdings for several months now. One of the better indicators of future performance, in my experience.
Directors, particularly Swick family members have been steadily adding to their holdings for several months now. One of the better indicators of future performance, in my experience.
Looks like there is some activity going on at Swick. SP is still low at 0.46, but the volume is interesting. On any given day over the past few months, about 200 thou shares trade. Over the last couple of weeks however, there have been 10 times that volume shifting. At least one of those sales has been directors buying up.
I dont understand how there can be so much volume trading without an accompanying change in share price. Sure, on some days the SP has moved */- 6%, but overall, the price has only moved from 0.40 to 0.46, and to me, given the volume, that is negligible.
I always thought that volume was a good indicator, a portent of things to come. Am I wrong? Does the recent trading at SWK merely represent one insto getting out, another buying in? Or will the SP take off in the next few weeks?
I dont understand how there can be so much volume trading without an accompanying change in share price. Sure, on some days the SP has moved */- 6%, but overall, the price has only moved from 0.40 to 0.46, and to me, given the volume, that is negligible.
I always thought that volume was a good indicator, a portent of things to come. Am I wrong? Does the recent trading at SWK merely represent one insto getting out, another buying in?
Or will the SP take off in the next few weeks?I havn't analysed recent SWK market volumes but seem to remember that the company made a placement of shares at 40c recently to parties including certain directors. Might be worth checking to see if some of these have been "re-cycled" back into the market.
Where can I find details about substantial trading activity?
I did some searching using Etrade and the ASX site, but could not find much of interest. Is there some other site which publishes trade information? Is it a free site of does it cost $$$?
I found out that one of the directors, K J Swick bought 1,008,080 shares on 14 April, which accounts for about 40% of the 2.7 mil trades yesterday.
Another 2.7 mil shares traded on 12 April, and I think that might be UBS buying in.
So it could be just shuffling shares between directors, with a bit of institutional buy-in.
I did some searching using Etrade and the ASX site, but could not find much of interest. Is there some other site which publishes trade information? Is it a free site of does it cost $$$?
I found out that one of the directors, K J Swick bought 1,008,080 shares on 14 April, which accounts for about 40% of the 2.7 mil trades yesterday.
Another 2.7 mil shares traded on 12 April, and I think that might be UBS buying in.
So it could be just shuffling shares between directors, with a bit of institutional buy-in.
Hi, tarbaby.
You're on the right track in checking the SWK page on ASX but remember that you'll only get notifications of director dealings and substantial shareholder (defined as 5% of issued capital) movements. Anyone buying or selling below this threshold won't be notified but could still be significant, eg 4.95% of SWK would still be a big number!
Cheers
You're on the right track in checking the SWK page on ASX but remember that you'll only get notifications of director dealings and substantial shareholder (defined as 5% of issued capital) movements. Anyone buying or selling below this threshold won't be notified but could still be significant, eg 4.95% of SWK would still be a big number!
Cheers
Wysiwyg
Everyone wants money
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I dont understand how there can be so much volume trading without an accompanying change in share price. Sure, on some days the SP has moved */- 6%, but overall, the price has only moved from 0.40 to 0.46, and to me, given the volume, that is negligible.
I have been in and out in that price range. Won't be stuffed around with concrete resistance anymore. Alright if you want to play games and have time to kill. Another strange one.
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Hi, tarbaby.
You're on the right track in checking the SWK page on ASX but remember that you'll only get notifications of director dealings and substantial shareholder (defined as 5% of issued capital) movements. Anyone buying or selling below this threshold won't be notified but could still be significant, eg 4.95% of SWK would still be a big number!
Cheers
Old Blue
I believe any transaction by a director irrespective of its holding is reportable in ASX.
For example even when the directors get dividends converted into shares are reported.
The options lapsed by the directors are reported
Any dilution in their holding due to their no sale or buy but purely from the issue of capital to sophisticated investors are also reported
Cheers
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KJ Swick is the principal holder and the company is named after his surname.
There are some mobs like Keith Wilson who report the directors transactions in their insider traders magazine/ website but it is a paid subscription. They also do not provide full description.
THe best way will be to view on a daily basis on ASX on the company of your choice.
Exactly.
The 5% threshold relates to the "substantial shareholder" definition.
All changes to directors' holdings have to be reported including, as you note, reinvestment of dividends, take up/lapses of options etc.
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Down to 17.5c, yet NTA of ~ 45c.
Positive comparisons on this time last year, and prospects look reasonable with solid pipeline and diversifciation overseas, yet the stock continues to drop.
Anyone have any thoughts on this stock?
Positive comparisons on this time last year, and prospects look reasonable with solid pipeline and diversifciation overseas, yet the stock continues to drop.
Anyone have any thoughts on this stock?
Porper
Ralph Nelson Elliott
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Technically it's a dog. No volume, steep downtrend, just broken through minor support. Hard to find a worse stock on the ASX as of now. 10 foot and barge pole comes to mind. There are lots of strong trending stocks around now...smaller cap stocks participating in the recovery of the broader market meaning lots of opportunities.
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It is joyful that since 2010, there were two posts on SWK .
I have been following SWK and even if the report on 27 Feb sounds rosy I will be cautious.
Net debt has gone up 149% .
Why there is no illumination on this. Cash has gone down by 45% and cash in hand is only $11 M
DYOR
Do not hold
I have been following SWK and even if the report on 27 Feb sounds rosy I will be cautious.
Net debt has gone up 149% .
Why there is no illumination on this. Cash has gone down by 45% and cash in hand is only $11 M
DYOR
Do not hold
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Up 10% today...
Cost re-focus results in strong quarterly performance for Swick Mining Services
Western Australia-based contractor Swick Mining Services (ASX: SWK) has followed up its December performance with strong unaudited results for the first three months of 2019, driven by a strategy of re-setting market rates and targeting lower operating costs.
The company’s drilling business posted a 58% increase in earnings before interest, tax, depreciation and amortisation (EBITDA) of $7.3 million from $4.6 million in the previous corresponding period.
Revenue for the business was also up on the previous period by 7%, from $32.9 million to $35.1 million
At a group level, Swick reported a consolidated EBITDA of $6.4 million (unaudited) – up 58% from $4 million in the previous corresponding period – and an EBIT of $1.2 million (unaudited), up from a small loss.
Cash from operations for the period was $7 million – up 77% increase on the previous period and representing a 110% conversion of EBITDA to cash at the group level. More...
Cost re-focus results in strong quarterly performance for Swick Mining Services
Western Australia-based contractor Swick Mining Services (ASX: SWK) has followed up its December performance with strong unaudited results for the first three months of 2019, driven by a strategy of re-setting market rates and targeting lower operating costs.
The company’s drilling business posted a 58% increase in earnings before interest, tax, depreciation and amortisation (EBITDA) of $7.3 million from $4.6 million in the previous corresponding period.
Revenue for the business was also up on the previous period by 7%, from $32.9 million to $35.1 million
At a group level, Swick reported a consolidated EBITDA of $6.4 million (unaudited) – up 58% from $4 million in the previous corresponding period – and an EBIT of $1.2 million (unaudited), up from a small loss.
Cash from operations for the period was $7 million – up 77% increase on the previous period and representing a 110% conversion of EBITDA to cash at the group level. More...
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That the stock price has gone essentially sideways for 10 years does make it a less than exciting stock.
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This stock was a permanent recommendation from the Trident report and I've been holding for about 6+ years. Who else covers the stock?
greggles
I'll be back!
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DDH1 Limited to acquire Swick Mining Services Ltd for $115 million enterprise value, representing equity value of 35c per share. Swick shareholders will also receive Orexplore shares under the proposed ($12 million seed funded) Orexplore demerger.
SWK hasn't traded over 35c since 2013, and has never been a stellar performer as a listed entity, so this deal is probably a reasonable one for SWK shareholders. Although it is worth noting that it is a scrip transaction, not cash. SWK shareholders wil receive 0.2970 DDH1 shares for each Swick share they hold.
SWK hasn't traded over 35c since 2013, and has never been a stellar performer as a listed entity, so this deal is probably a reasonable one for SWK shareholders. Although it is worth noting that it is a scrip transaction, not cash. SWK shareholders wil receive 0.2970 DDH1 shares for each Swick share they hold.
