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Thursday tips round-up: Henderson, Moneysupermarket, Melrose

Thu, 25th Feb 2010 05:54

Investors have applauded Henderson's New Star deal, more than doubling the share price from 50½p in January 2009 to yesterday's close of 122.1p. The price has eased since January amid predictions of a forthcoming market correction and renewed worries that a double-dip recession will weaken consumer confidence. A buy for economic bulls, according to the Times.Moneysupermarket insists the special dividend, the second this year, reflects its confidence but long-term investors may be forgiven for saying they have heard it all before. The shares, up 2½p at 72p last night, remain cheap ? although not with the July 2007 issue price of 200p ? for a dot-com stock. But there is a reason for that. Avoid, says the Times.Melrose Resources, the Edinburgh-based group which yesterday said that it had met its production expectations for 2009, trades at 0.76 times Numis's estimated net asset value. That is below the company's peer group of small and mid-cap E&Ps. They pay a dividend - a rarity in this sector. Besides Romania, analysts are awaiting news from Egypt, which could also help to drive performance. Melrose is one to watch. Buy, says the Independent.Ferrochrome miner International Ferro Metals (IFM) was first tipped by the Telegraph at 56½p last August but by December, with the shares having lost more than half their value, the tip was labelled an "utter disaster" and its timing "utterly wrong". The stock has gained 33pc since the gloom of our December analysis, but investors should hang on for the brighter outlook. Hold, says the Telegraph. Disappointingly, New World Resources ? which is majority-owned by Zdenek Bakala, a Czech businessman ? has negotiated metallurgical product prices only for the first quarter of 2010, at €103 per tonne for coking coal, a mere 18 per cent rise on 2009, when the market looked much bleaker. However, there has been some eyebrow-raising over corporate governance issues in its links with Ferrexpo. Kostyantin Zhevago, who owns 51 per cent of Ferrexpo, sits on the NWR board. For now, best avoided, writes the Times.The Independent agrees and says that the company claims its safety performance is improving. But there were still five fatalities in its mines in the last 12 months, one of them the day before the results were published. Add to that the fact that the share price has already roughly doubled since last summer, and New World Resources is a sell.Please note: Digital Look provides a round-up of news, tips and information that is impacting share prices and the market. Digital Look cannot take any responsibility for information provided by third parties. This is for your general information only as not intended to be relied upon by users in making an investment decision or any other decision. Please obtain a copy of the relevant publication and carry out your own research before considering acting on any of this information.

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7 Nov 2013 11:34

International Ferro Materials Sales Volumes And Production Up In Third Quarter

30 Sep 2013 14:32

International Ferro Metals Widens Losses, Increases Production 20%

30 Sep 2013 11:43

STOCKS NEWS EUROPE-UK small caps dip 0.3 percent

The FTSE Small Cap index slips 0.3 percent, outperforming the wider market by some margin, with the midcaps off 0.7 percent and the blue chips 0.9 percent weaker. Avon Rubber climbs 4.5 percent after the manufacturer of respiratory protection products says that strong fourth-quarter tradin

24 Jul 2013 08:25

STOCKS NEWS EUROPE-UK small cap index gains lag the blue-chips

The FTSE Small Caps Index is up by 0.2 percent while the FTSE AIM All Share Index edges 0.1 percent higher, with both underperforming a 0.6 percent rise on the blue-chip FTSE 100 while the FTSE 250 mid-cap index rises 0.2 percent. International Ferro Metals jumps 11.3 percent after reportin

30 Jan 2013 15:29

South African ferrochrome output cuts expected to boost prices

* 350,000 tonnes removed from market - traders * Eskom may extend electricity buyback deals By Agnieszka Flak and Harpreet Bhal JOHANNESBURG/LONDON, Jan 30 (Reuters) - Ferrochrome production cuts in South Africa are likely to persist into the second quarter, boosting prices at

24 Jan 2013 07:17

IFL to shut one furnace to aid S.Africa's Eskom

JOHANNESBURG, Jan 24 (Reuters) - Ferrochrome producer International Ferro Metals said on Thursday it would shut one of its furnaces between Feb. 1 and March 31 to help South African power utility Eskom manage a tight electricity supply. The company also said it would supply its customers us

11 Jan 2013 12:46

International Ferro Metals gains on furnace repair

International Ferro Metals advanced Friday after confirming that operations at its two furnaces had returned to normal following the replacement of the electrode paste in late December. The company announced in November that the furnaces were experiencing productivity issues due to recurring electr

11 Jan 2013 10:01

STOCKS NEWS EUROPE-UK small caps higher in morning trade

The FTSE Small Caps index is up 0.4 percent in morning trade, mirroring gains by the FTSE 250 index, also ahead 0.3 percent, while the FTSE 100 index is down 0.1 percent. International Ferro Metals adds 6.8 percent as the ferrochrome producer says operations at both its furnaces in South Africa have

3 Dec 2012 07:16

Monday broker round-up UPDATE

ARM Holdings: Exane BNP Paribas upgrades from neutral to buy. Ashtead Group: Bank of America starts with a target price of 460p and a buy recommendation. AstraZaneca: Berenberg raises target price from 3080p to 3100p; hold recommendation kept. Balfour Beatty: Investec reduces target price from 21

11 Sep 2012 09:13

Resource round-up: International Ferro, Magnolia, Sefton

International Ferro Metals, the AIM-listed miner of ferrochrome (an essential ingredient in stainless steel), rose strongly on Tuesday after saying that the ramp-up of its Sky Chrome project to a record 73,000 tonnes per month was achieved last month. The plant provides low-cost chrome ore for the s

7 Jun 2012 11:59

Resources round-up: Goldstone, Caza, Anglo Asian Mining...

Exploration company Goldstone has confirmed the wide depth extension of its gold resource at Homase/Akrokerri in West and Central Africa after 46 holes were drilled, totalling 13,200 metres. Included in these, one hole intersected gold mineralisation of 15.7m at 1.4 g/t including 4.5m at 3.3 g/t, wh

25 Apr 2012 15:09

Resources round-up: International Ferro, Forum Energy, Regency Mines

International Ferro Metals, the AIM-listed integrated ferrochrome producer, moved back into overall profitability on a monthly basis for March, with 37.5 per cent of targeted production cost savings achieved during the quarter ended March 31st. During the period net borrowings decreased from ZAR 4

1 Mar 2012 11:11

International Ferro in electricity agreement with South African utility firm

International Ferro Metals (IFL), the AIM-listed integrated ferrochrome producer, has reached an agreement with South African utility company Eskom to assist with the power utility's electricity supply requirements by participating in its electricity buy-back programme for an agreed period. IFL wi

20 Feb 2012 11:15

International Ferro Metals rises on reduced losses

International Ferro Metals has managed to stem losses at its operations in the North West Province of South Africa. The company has reported production of ferrochrome down 15% in the final six months of 2011 compared to the same period of 2010. Sales fell 3% over the prior year. Revenues came in

24 Jan 2012 09:27

International Ferro Metals' shares jump on production rise

International Ferro Metals, the South African ferrochrome producer, saw production rise 15% in the final three months of 2011 compared to the same period of 2010. Ferrochrome is an essential ingredient in the manufacture of stainless steel. International Ferro Metals made 54,142 tonnes of the subst

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Thursday tips round-up: Henderson, Moneysupermarket, Melrose

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