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| Share Name | Share Symbol | Market | Stock Type |
|---|---|---|---|
| Blackrock World Mining Trust Plc | BRWM | London | Ordinary Share |
| Price Change | Price Change % | Share Price | Last Trade
|
|
|---|---|---|---|---|
| -7.00 | -1.39% | 497.00 | 16:35:29 |
| Open Price | Low Price | High Price | Close Price | Previous Close |
|---|---|---|---|---|
| 510.00 | 498.00 | 510.00 | 497.00 | 504.00 |
| Industry Sector |
|---|
| EQUITY INVESTMENT INSTRUMENTS |
| Top Posts |
|---|
Posted at 27/8/2024 18:37 by xtrmntr BlackRock World Mining revenues plunge amid dividend droughtThe 6.3%-yielder's revenues fall 28.6% as mining company dividend cuts filter through, but managers Evy Hambro and Olivia Markham say tone toward sector is generally positive.BYJAMIE COLVINBlackRock World Mining Trust (BRWM) has been knocked by dividend cuts and warned of further market volatility amid a weak outlook for China and rising geopolitical tensions.Newly appointed chair Chip Goodyear, a former BHP chief executive, warned investors in the £1bn trust that China, the largest global consumer of commodities, had fuelled concerns over the growth outlook given its ailing economy, which has hampered demand for metals.The 6.3%-yielder's half-year results show that over the six months to the end of June, revenues plunged 28.6% to 11.95p per share year-on-year as many mining companies slashed their dividends in the wake of softening commodity prices last year, a weaker dollar and higher costs.BlackRock managers Evy Hambro and Olivia Markham said the first half had been 'frustrating'. A generally positive tone toward the sector saw gold and copper prices hit all-time highs and buoyed merger and acquisition (M&A) activity, but this was not reflected in performance, with net asset value (NAV) softening by 1.9%.The composite reference index, made up of the MSCI ACWI Metals and Mining 30% Buffer 10/40 index, returned 0.6%, while the FTSE 100 jumped 7.9% and the consumer prices index gained 2%.Shareholder returns totalled 1.1%, which included the fully covered 5.5p dividend, as the discount narrowed from 3.3% to 0.6%. Goodyear noted the board would consider share buybacks, having not bought back any stock since the shares fell below par last year.He added that there were reasons for hope in the commodities sector, with miners playing a key role in the delivery of materials required for infrastructure investment, while AI depends on minerals and metals.'Despite the pick-up in M&A activity, we are pleased to see mining companies continue to show strong capital discipline, which should ensure there is an appropriate split of available cashflow between shareholder distributions and growth,' Goodyear said.Gold and copper shineThe copper price reached an all-time high in May, finishing the half up 11.7%, driven by investments into the grid, electric vehicles, wind and solar power, and traditional Chinese demand drivers switching from being property-linked to low-carbon infrastructure and manufacturing. Among base metals, aluminium rose 6.1%, nickel gained 4.1% and zinc added 9%.Gold jumped 12.6% to a then-all-time high of $2,427 (£1,834) per ounce, driven by geopolitical tensions and central bank purchasing, particularly from China. Retail investors appeared more cautious, with gold exchange-traded fund holdings declining over the period, which Hambro and Markham said was perplexing given its role as a safe haven asset.Silver climbed 20.7% as the market recognised its relative price attractiveness versus gold along with its industrial demand in the solar sector, the managers said.On the other hand, the prices of iron ore, lithium and thermal coal fell on weaker demand and, in the case of lithium, supply threats that undermined long-term price assumptions.Hambro and Markham increased exposure to precious metals companies to reflect their positive outlook on gold and the expected improvement in earnings from gold companies. Gold makes up 23% of assets, according to the July factsheet. Copper is another key exposure, at 24% of the portfolio.'Prices for both commodities have been strong, and key for performance will be how these translate into earnings for the companies,' they said. 'Too often higher prices end up being lost to the pressures of poor operating performance, inflation, taxation or consumed in reinvestment by the companies. It is our expectation that the management teams have the processes and skills to mitigate these negative impacts.'Diversified mining company Glencore (GLEN) is the largest holding, at 7.7% of assets, followed by Australian miner BHP, whose hostile offer for Anglo American (AAL), another holding, was rejected during the period, and Rio Tinto (RIO).Shares in the trust rose 1.3% to 538.89p per share on Tuesday morning, putting them on a 6% discount to the June NAV of 572.21p. |
Posted at 19/8/2024 11:56 by masurenguy Copper's Long-Term Prospects Look FavourableOne of the reasons for recent market volatility was the rising odds of a recession in the US. Copper is often regarded as a leading indicator for the global economy because it is used in so many industries. Interestingly, the copper price peaked in May and has fallen as much as 22% since then. In the short term, it appears that copper supply is overwhelming demand. That may be a warning sign for the global economy but the longer-term picture is different with a potential supply deficit on the horizon. If that’s the case the current weakness may be offering investors an opportunity. Simply Wall St. |
Posted at 06/2/2024 22:11 by sunbou That is at the high end of Stifel's estimate, reported here: |
Posted at 27/12/2023 14:56 by wallywoo I bgt in here last week at 575. Very often this has a very good January, February performance. Perhaps it is the large final dividend that investors buy in to.Whatever the reason the downtrend looks to have broken upwards, so hopefully will have a good run over next few weeks. |
Posted at 25/5/2023 09:31 by fordtin Thanks xtrmntr.Try changing the beginning of the link from h to H. it gives the following result; |
Posted at 25/5/2023 07:36 by xtrmntr https://podcasts.app |
Posted at 10/3/2023 11:33 by spangle93 Short Kepler study on commodities, and recommendation for this trust (among others) |
Posted at 26/12/2022 10:46 by xtrmntr https://www.proactiv |
Posted at 25/7/2022 12:01 by rogerbridge ESG costing investors a packet. |
Posted at 16/7/2022 06:47 by masurenguy BlackRock income cut by a fifth as global downturn takes holdThe world’s largest asset manager reported a bigger fall in quarterly profit than had been expected last night as turmoil in global markets shrank its fee income and as retail investors redeemed their savings. Private investors withdrew roughly $10 billion from BlackRock in the quarter to the end of June, the first drop since the beginning of the pandemic in March 2020, although the money manager had $89.6 billion in total net inflows from clients. Net income at BlackRock fell by 22% to $1.08 billion in the three-month period, while revenue declined by 6% to $4.53 billion. Its assets under management, which ended last year at a record $10.01 trillion, the most recorded by any fund manager, stood at $8.49 trillion by the end of June. Complete article: |
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