Panmure published a new note out this morning on Research Tree: "HFG's share price has fallen 12% since reaching an all-time high of 610p on May 27th. The vast bulk of the fall has however occurred since June 2nd following the publication of the FTSE UK Index Series Annual Review June 2016. HFG will therefore drop out of the FTSE SmallCap Index on June 20th for liquidity reasons. On fundamental and valuation grounds, we see this 12% fall as unwarranted and therefore believe the current weakness in HFG's share price creates an attractive buying opportunity, particularly given HFG's..."
"Standard Life Equity Income Trust (SLET) is a multi-cap UK portfolio made up of manager Thomas Moore’s 50-70 best ideas for achieving a high and growing income with the potential for capital appreciation. The manager seeks attractively valued stocks with strong earnings and dividend growth potential that may not have been fully appreciated by the market. He currently sees better fundamentals in stocks outside the blue-chip FTSE 100 Index, and the trust has a large weighting (60%+) to smaller and midcap stocks as a result. Recent performance has been affected by poor sentiment towards UK domestic stocks in the run-up to the EU referendum; there is potential for this to reverse if, as widely expected, Britain votes to remain in the EU, although a Brexit vote could have the opposite effect." Edison note out this morning, available on Research Tree
The group’s half-year results illustrate the continuing difficult market conditions in oil & gas – its largest end-market. Significant progress with new customer programmes has been seen in the precision engineering and aerospace sectors. Airbus has received its first delivery of coated components for life testing, with several other aerospace components in development or testing. The new US facility is now operational and currently undergoing customer approval. We make no changes to our forecasts, but it is clear that difficult market conditions will continue to suppress trading for at least the next 18 months. Due to new orders recently received, management expect revenues to increase in H2. finnCap's note from this morning on Research Tree
Amino has reported a robust trading update for the interim period to May, detailing revenue and operating profit performance in line with unchanged expectations, and very strong cash flow leading to net cash of £3.1m. The first half included both strong performance and record order intake, giving confidence of continuing growth into the 2H16. With the integration of both Entone and Booxmedia completed, costs savings executed, and revenue growth momentum restored, we look forward to interims on 11 July. finnCap's note out this morning on Research Tree.
"Mark Brewer summarises his initiation report on Premaitha, a molecular diagnostics company that has developed and launched a non-invasive prenatal test (NIPT), targeted initially at ex-US markets. He explains how the company is primarily products-based, addressing the needs of its laboratory customers, and how it is differentiated from other NIPTs by a faster turnaround time, a reduced need to re-run tests (failure rate), the fact that the test is CE marked and that it matches the specifications of National screening programmes. He believes Premaitha is well placed to capitalise on an addressable market worth $7.5-20.0bn. First-year revenues of c£2.5m are indicative of early traction in a European market that is underpenetrated compared with the US (c1.4% vs 25%)." Note from finnCap on Research Tree
"The group has announced an encouraging trading update ahead of its AGM highlighting that overall it is trading “comfortably in line†with expectations. No change to our forecasts, but clearly confidence in current forecasts becomes more assured. Today’s announcement should help provide greater investor confidence and underwrites our enthusiasm for this well-run growth stock." - finnCap's note out this morning on Research Tree.
"The group has now completed the disposal of its Aerospace operations, which unlocks significant hidden value and focuses the group on its Energy & Medical operations, with net cash per share level with its current share price. We expect proceeds will be partly used in a return of capital and partly on acquisitions; both have the scope to enhance EPS materially. We rebase forecasts for the disposal and pending buyback, while maintaining underlying forecasts for Energy & Medical. We see significant upside to the shares on a 1-2 year basis; with upside to forecasts as M&A activity occurs." finnCapp's note published this morning on Research Tree
Note out this morning by SP Angel (taken off Research Tree): Wishbone Gold the AIM listed metals trading and exploration company has agreed a two-year loan facility. The facility from Sanderson Capital partners is to support Wishbone’s gold trading facility. The facility carries an unusually low interest rate of 2%pa plus 0.5% on each trade of precious metals where the facility is utilised supporting a letter of credit or in direct trading. A much larger 10% commitment fee is payable in ordinary shares in Wishbone to Sanderson Capital partners better aligning Sanderson with shareholders
Another note out this morning, this one by SP Angel: Stratex report progress at their Dalafin gold exploration project in Senegal. An infill soil sampling program at Fare has extended the gold anomaly by another 750m. Outcrop sampling gat Baytilaye also shows reasonable gold occourances of ï‚· 1.6 g/t, 1.37 g/t, 1.23 g/t, and 0.92 g/t - also on Research Tree
SP Angel note out this morning: "Royal IHC, the Dutch dredging company is to support FinnAust Mining on the development of the Pituffik titanium mineral sands project in Greenland. Support from Royal IHC is a major advance for FinnAust as the company is able to mobilise and supply significant resources to help FinnAust in progress towards development. The ability to ship this material with relatively simple and little processing should be a key advantage for the Pituffik project. Conclusion: FinnAust is de risking the Pituffik project in a methodical process. The support of such a large dredging company ‘Royal IHC’ is a major step toward the eventual development of the project. Out on Research Tree