Hargreaves Services Share Discussion Threads

[gargoyle2] 31/3/2014 15:01

Looking at the 12 month chart.. time to buy again at around 800p?

[beeks of arabia] 28/3/2014 09:51

Sharesave scheme letter has arrived. 7.33 a share.I will be purchasing them this year. Seems a good price and well below the current trend line.

[ginna117] 21/3/2014 09:14

SSI are looking for a 200 million investor , I wonder who that could be .
Ginna

[gargoyle2] 21/3/2014 07:56

Carbon tax freeze good news for Hargreaves Services

The UK's leading coal producer and distributor Hargreaves Services (HSP.L) received a small boost from Wednesday's Budget as the chancellor announced a freeze on carbon tax.

Jefferies analyst Justin Jordan reiterated a 'buy' recommendation and placed a target price of £10.30 on the shares.

'[The] Budget delivered a modest positive for the UK coal industry with a freezing of UK carbon tax,' said Jordan. 'We view it as a welcome step in recognising the longer-term future of coal within the UK energy mix.'

He added that the company also appointed former SSI UK chief Phil Dryden to group business development director to target further international expansion.

'While key risks remain for production at its UK surface coal mines and global coal/coke prices, we view the freezing of the UK's carbon tax as a welcome first step in recognising the longer term presence of coal within the UK energy mix.'

The shares slipped 4.5p of 0.5% yesterday. They have fallen 2% this year.

[gargoyle2] 20/3/2014 09:32

Jefferies reiterates buy rating with 1050p target.

[gargoyle2] 20/3/2014 08:11

Here's a piece about HSP's new head of international:

[castleford tiger] 22/2/2014 14:37

Too cheap. keep buying.
Tiger

[scobak] 13/2/2014 10:09

I'm sticking with them. I am confident that the company has a good future even with the uncertainty of coal in the UK. There is a big world out there to trade with. HSP is well managed and those managers have significant skin in the game.

[gargoyle2] 11/2/2014 12:39

Jefferies reiterates its buy recommendation, with 1030p price target:

[gargoyle2] 11/2/2014 10:21

All buys today, as far as I can see. Someone happy to offload at the 875/880p range. A couple of big (50k each) buys earlier at 869ish.

[wjccghcc] 11/2/2014 10:13

The problem here is Monckton IMHO. With the closure of the Tata Soda Ash plant, half their market will disappear. Combine that with many of their overseas customers limiting their off take from long-term contracts and you have to wonder if it's viable beyond 2015 when the Tata contract expires.

On the plus side, I doubt it contributes much to profits but on the downside I'd guess it will cost a lot to close it down.

[deanowls] 11/2/2014 09:37

Covered in pauly pilots blog today.

[deanowls] 11/2/2014 08:47

Very good results and pushes the divi upto 3% which makes it more reasonable with hopefully further to go at the year end, sounds very positive, just need to break over the 9 quid barrier now.

Something I have been wondering is, does HSP own the Maltby land, e.g rights to develop or build on it?

[gargoyle2] 11/2/2014 07:30

From a quick review of the headline numbers, these look like cracking interims.

[gargoyle2] 29/1/2014 11:01

Rising nicely over the last 3 weeks or so. Hoping for a break through 9 quid on or around the interims in 2 weeks time (11 Feb).

[sar10] 22/1/2014 19:41

This share seems like its been in a holding pattern whilst the big boys make their moves recently. Some serious buying and selling by the ii's over the last few weeks, maybe we'll start to see what direction we are heading now.

Fwiw I still think this share is massively undervalued but we shall see.

Gla

[ginna117] 09/1/2014 08:29

Rumours are hsp to take a slice of SSI steel Redcar
Dyor
Ginna

[thorpematt] 22/12/2013 20:26

HSP tennis:-





800p

900p

800p

900p

[aishah] 18/12/2013 09:49

Stop-lossed out.
Hargreaves warns on coke market

[castleford tiger] 17/12/2013 18:45

I KNOW its only a small part of the business but sales of domestic fuels in Nov and December are down 80%.
Let me put that another way.
HSP may have sold the first batch of stock but end user is not buying.
Gas/coal/wood in general heating fuels are up to 80% down on last year alone in the first 2 months of what is really a 5 month season.
That's business that's gone. Import coal prices are lower.
Were HSP HOLDING STOCK?

Something is spooking the market because with EPS well over 125p the price looks cheap.

tiger

[wjccghcc] 17/12/2013 13:38

True sar, but remember a large part of their revenue is from distributing so large revenues but small margin. However the good part is they're not really exposed to fluctuations in the coal price as they still take their cut (although it will impact overall demand). The issue with Monckton is they actually produce coke so have large fixed costs - a small reduction in coke pricing or coke demand can have a large impact on the bottom line.

They do have a long-term contract until end 2015 for the soda ash plant, but unless they settle, Tata could put the subsidiary into administration and the contract becomes meaningless.

[dvb99] 17/12/2013 12:52

good management, share is cheap - i have topped up

[sar10] 17/12/2013 12:21

Re Monckton. From last years full report:

Production at Monckton remained steady whilst revenues decreased by £3.3m from £56.4m to £53.1m. Coke sales fell by £4.5m from £54.1m to £49.6m, whilst by-product income fell by £0.5m to £4.1m through a combination of lower volumes and lower power prices.

So Monckton only accounts for approx 53 million of a total of 843 million revenue for last year. Although not good, not the end of the world, and nothings happened yet!