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SGM, SIMS METAL MANAGEMENT LIMITED
blacksheep
post Posted: Jan 23 2019, 01:01 PM
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In Reply To: blacksheep's post @ Jan 21 2019, 10:16 AM

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no doubt shorters will be piling in over the course of the next few days


Two notable shorts noted in last two days. Total short positions as at 17/1/2019 = 4.93% - should increase substantially when these below are factored in

QUOTE
Tue 22nd Jan, 2019 1,104,152 202,720,452 0.54% 3,268,652 33.78%
Mon 21st Jan, 2019 1,477,412 202,720,452 0.72% 7,252,447 20.37%

https://www.shortman.com.au/stock?q=SGM

Sp currently $9.175

This is what analysts had to say in recent days

QUOTE
** Shares of Sims Metal Management fall as much as 3 pct to A$8.91, their lowest since Sept. 21, 2016
** Credit Suisse cuts target price on the stock of the metals and electronics recycler to A$12.90 from A$14.45; retains "outperform" rating
** Sims and competitors are competing with price for feed volume, suggesting that volume leverage on fixed costs is more important than buy-price under current market dynamics - Credit Suisse
** More than 2.2 mln shares change hands, compared with the 30-day average volume of about 990,000
** Five of nine analysts covering the stock rate it "buy" or higher, 3 "hold" and 1 "sell"; median PT A$12.70 – Refinitiv data
** Stock fell more than 36 pct in 2018

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The herd instinct among forecasters makes sheep look like independent thinkers. Edgar Fiedler

If the freedom of speech is taken away then dumb and silent we may be led, like sheep to the slaughter. George Washington
 
blacksheep
post Posted: Jan 21 2019, 10:16 AM
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Having a bad day following profit warning - SP down 14.61% @ $9.35 - no doubt shorters will be piling in over the course of the next few days. Total short positions as at 14 January 2019 = 4.82%
https://www.shortman.com.au/stock?q=sgm

QUOTE
Sims' management expects underlying earnings to be about $110 million, compared to $125 million in the first half of the previous financial year.

Chief executive Alistair Field said the period had been challenging for all recycling companies "and will continue to be so for the near future".

The biggest decline was an 88 per cent drop in earnings from Europe metals, down to $1.4 million from $11.6 million the previous year. Sims said challenges in the Turkish economy and requirements for higher quality ferrous scrap created headwinds. Earnings from the SA Recycling division dropped 33 per cent from $25.1 million to $16.8 million

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--------------------
The herd instinct among forecasters makes sheep look like independent thinkers. Edgar Fiedler

If the freedom of speech is taken away then dumb and silent we may be led, like sheep to the slaughter. George Washington
 
early birds
post Posted: Feb 22 2013, 09:22 AM
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In Reply To: early birds's post @ Jan 22 2013, 01:31 PM

sooooo disapointed with this one, even the sp doing well after yesterday,
i won't touch it even i like this one a lot!
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sold it 9.70ish a while ago, and saw it drop to 8.95ish, then all the way back!
i feel dumb founded. this is the one that i like but hate their manager team. now CEO is gone, and stock rocket it up even with current shaky market and shitty results!

puke.gif



 
early birds
post Posted: Jan 22 2013, 01:31 PM
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In Reply To: early birds's post @ Jan 21 2013, 09:19 AM

With Sims Metal shares off another 1.8 per cent so far today, following on from Monday's 5 per cent slide on news of a $60 million exposure to fraud in the UK, holders of the stock can't draw much solace from this morning's broker notes.
For Macquarie, it has retained its 'underperform' rating on the stock:
"We have stated previously that we will need to see an inflection point in ferrous scrap earnings to get more bullish on Sims. We now couple this requirement with needing to satisfy concerns around Sims' internal governance and controls. Retain Underperform."
Commbank Securities also has an 'underperform' rating on the shares, and highlighted the potential for a write-down of goodwill against its US business, which accounts for half of total goodwill on the books:
"The US metal recycling industry is suffering from excess shredder capacity and low scrap generation growth," it told clients today. "This has resulted in more competition for scrap flows and significant margin contraction.
"In our view, rationalisation of underperforming assets is required to restore balance and profitability. But so far, industry efforts have been mainly concentrated on reducing headcount."
As a result, it has slashed its fiscal 2013 earnings a share forecast to 23.7 cents from 43 cents for the shares


Read more: http://www.smh.com.au/business/markets-liv...l#ixzz2IfgwiO2a
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sooooo disapointed with this one, even the sp doing well after yesterday,
i won't touch it even i like this one a lot!



 
early birds
post Posted: Jan 21 2013, 09:19 AM
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Scrap metal recycler Sims Metal Management fears managers of its British operations could have defrauded the company.
Sims says it has discovered that the carrying value of inventory at its Recycling Solutions business at Long Marston and Newport in Britain was overstated by about $60 million.


Read more: http://www.smh.com.au/business/markets-liv...l#ixzz2IYpJFJ7L
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just i thought this one gonna take off, it comes out with this shitty, seems the leaking just won't stop!! weirdsmiley.gif
i'm done with it!! weirdsmiley.gif



 
early birds
post Posted: Jan 18 2013, 11:16 AM
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In Reply To: early birds's post @ Jan 3 2013, 02:19 PM

still can't punch through 10 mark!! little tired!!

unsure.gif



 


early birds
post Posted: Jan 3 2013, 02:19 PM
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In Reply To: early birds's post @ Dec 19 2012, 10:37 AM

$9.75 is over come! given the strength for steel price, won't be long we can see a big up grade for SGM!!
i target it $12ish for few short term{ few months}



 
early birds
post Posted: Dec 19 2012, 10:37 AM
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In Reply To: early birds's post @ Dec 11 2012, 02:21 PM

11:00am: Scrap metal recycler Sims Metal Management has downgraded its first half earnings forecast by 20 per cent.
Just four weeks ago Sims forecast its underlying earnings before interest, tax, depreciation, and amortisation (EBITDA) in the six months to the end of December to be in the range of $110 million to $120 million.
But it said continued challenging market conditions had forced it to reduce its forecast. Sims now expects EBITDA in the range of $87 million to $97 million in the six months to December.
Sims is the world’s largest listed metal recycler. A short time ago, Sims shares were down 21 cents, or 2.3 per cent, at $9.10.


Read more: http://www.smh.com.au/business/markets-liv...l#ixzz2FSAdAdkY
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i really hate frequent downgrades! you do it once ---sharp and clean! not this bits piece shittyy drible! weirdsmiley.gif
8.25 is my bottom line. lower than that. i'm out! i still like this stock and think it will see the sun shine next year! they have very little debt, this is the thing that i like it!---no threat of fund raissaing!
hope they can resume buy backs next year!!



 
early birds
post Posted: Dec 11 2012, 02:21 PM
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In Reply To: early birds's post @ Nov 20 2012, 01:52 PM

9.21 as the day's high, i hold the little stake.



 
early birds
post Posted: Nov 20 2012, 01:52 PM
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In Reply To: early birds's post @ Nov 15 2012, 10:10 AM

a insider buying!!
8.50, my last try!!
weirdsmiley.gif



 
 


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