Share Name Share Symbol Market Type Share ISIN Share Description
Hummingbird LSE:HUM London Ordinary Share GB00B60BWY28 ORD 1P
  Price Change % Change Share Price Shares Traded Last Trade
  +0.25p +0.93% 27.25p 79,516 14:00:22
Bid Price Offer Price High Price Low Price Open Price
26.50p 28.00p 27.50p 27.25p 27.25p
Industry Sector Turnover (m) Profit (m) EPS - Basic PE Ratio Market Cap (m)
Mining -3.95 -1.15 95.9

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Date Time Title Posts
17/8/201819:06Hummingbird Resources4,806
17/8/201813:50Hummingbird Resources (moderated)193
15/7/201815:04Hummingbird Resources 201818
30/5/201813:52HUMMINGBIRD RESOURCES - multi asset gold company48

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Hummingbird Daily Update: Hummingbird is listed in the Mining sector of the London Stock Exchange with ticker HUM. The last closing price for Hummingbird was 27p.
Hummingbird has a 4 week average price of 26.10p and a 12 week average price of 26.10p.
The 1 year high share price is 40p while the 1 year low share price is currently 26.10p.
There are currently 351,826,899 shares in issue and the average daily traded volume is 705,492 shares. The market capitalisation of Hummingbird is £95,872,829.98.
ukgeorge: Darola, yes the current gold price weakness is undoubtedly partly to blame for the current poor share price but, the share price has declined for the last 12 months. So blaming the gold price/sector performance is not correct imo. Also comparing the likes of say Rand Gold, Barrick etc is not a relevant comparison either given that Hum has passed through what is arguably the most important period in a mining companies life cycle (building the mine and reaching commercial production). The risks at Hum have dropped significantly since reaching commercial production and it is difficult to understand why the share price has not re rated. A few factors that are to blame LOM (being addressed) Share options (unknown if they will repeat) AISC (worries it could climb, due to high strip ratio) Higher oil prices (should they consider hedging (a little late)) Fall in gold price (could hedge, risky game) Worries about Sulphide ore (new mill $4M, fingers crossed all goes well) Bunker Hill ($2M so far) Up for debate If they takeover $30M ish Development cost $90M Complete change in commodity Diversified miners are valued on a lower ratio than gold miners (yes Hum is valued at f all) Gold funds suddenly can't invest What is next
lurker5: Re Align Research I see that Darola, despite 10 years as a 'investor', still can't spot dud 'research' ! Clue No 1. What sort of nerd states a 'target' share price to two decimal places ? Clue No 2. What sort of nerd forgets to deduct $60m of Cora debt from his 'Sum of Parts' ? Clue No 3. What sort of nerd has so little experience that he thinks a SoP is ever achieved in practice ? And why would anyone pay right up to a 'target' price ? So why would it ever be hit ? Clue No 4 What sort of nerd includes a $33m 'value' for Dugbe when a) he admits a partner will have to come in and take away part of any value and b) he uses an 'average' EV/oz of a set of 'peers' all at more advanced stage with better quality 'resources' and where most are well below his 'average', but which latter is inflated by including a tremendous 'outlier' - Mombore - which has all permits, is far more profitable, and in a better jurisdiction. Clue No 5. What sort of nerd quotes approvingly of a Dugbe 29.4% irr (not that exciting) and doesn't understand that the 10% 'free carry' for Liberia that he mentions will reduce that to 25.8% (marginal for a miner) and the NPV10 by a massive 20% from $184m to $148m ! - quite a big drop, but unrecognised. Many other clues to nerdism too numerous to mention, but not least that a theoretical NPV value has never, ever, been achieved or even closely approached in practice (for which there is a very good reason never admitted by the analysts who put them up) by any of the 70 or so junior miners I have followed closely during the last 15 years even including the 2011 bull run. And last but not least, why didn't HUM jump for joy when its broker put up an even bigger 'target' a year or so ago ? - Why ? - because the savvy know that such 'targets' are bogus ! The analyst puts them up to satisfy either his client company or his broker employer touting to sell the shares to the non-savvy. To achieve a juicy looking one he will inch up by dodgy means every single element of a SoP! I know, because I worked in that world for many years. It is, of course, possible that Gonka will come partially to the rescue of a sharply declining cash flow from Yanfolila over the next few years and a consequent falling HUM share price. But its not certain yet, and there are other uncertainties for HUM meanwhile. So we should all commiserate with poor old Align if its 'conviction' led it to buy the shares in July at 30.5p ! And it is, of course, possible that gold might also come to the rescue. But a recovery will have to see a really determined and sharp, and such a a 'violent' uptrend has been regularly forecast as 'imminent' for almost as long as I can remember ! By popular demand I'll out similar nerdism in HUM's latest presentation when time permits.
fsjamescampbell: Why is he still talking to me.......... Ok BT here it is in a nutshell........ Fundamentally HUM is astounding, they have hit every target during financial raise, pre-project planning, project procurement and execution, mining operation cross over with end phase plant construction, mining operation cross over with end phase plant construction and then commissioning, first gold pour in which our very own CEO Mr Dan Betts got stuck in with a shovel and helped to bring the first gold pour to fruition, positive and remarkably fast ramp up stage, announcement on commercial production within 3 month phase in 2018, very positive first full commercial production quarter with 38700oz of gold sold of which 33101 was produced during that first commercial quarter netting $50m to the war chest of which $20m was free cash, reducing net debt down to $15m!!!!!! SP has underperformed for reasons we can only speculate, the likely culprit is retail selling due to fear, boredome and frustration, institutions mopping up said shares at low price due to lack of competition, brokers happy "honour" the big insti as they are likely a huge fund with millions of capital spend in many sectors over the financial markets. BOD - have delivered but comms at crucial times like the site incident has been perceived as poor, as others involved like AMS reported "all is well" HUM took the stance that during their first ever commercial production quarter they would lay low, maybe this turned out to be the best scenario or maybe it didn't. DB made the comment about nt buying shares to the caller on the cc and it came across wrong to PI's because the chap was only asking the question, a fair response in some respects, if DB sells shares it could hurt the sp, but maybe if the share price was above 50p and DB sold some shares it may only knock the share price 15 - 20% which could easily recover over a period. Maybe more updates on the current drill plan via social media, some more tweets from the gold room, tweets and statements about the mining operations, how is KW getting on the topsoil removal and so on. Updates on BH via social media, maybe a statement / RNS stating that "HUM operationally are delivering and they know of no other reason for the recent drop in SP" I suppose that is it in a nutshell BT - Operationally cannot find fault and some!!!! Fettling the market and instilling full confidence in the market with timely social media updates and RNS updates on more sensitive progress - could do better. Retail appear to be selling and a larger buyer is gladly mopping up, new retail investors will return at some point, probably very soon given drilling updates are probably only a few weeks away, Q3 results landing around 8 weeks time and so on. The lower the share price and the more weeks we gather "free cash" will certainly boost the share buy back when this can legally happen as the shares to be bought back will be cheap and HUM will get more for their money, less shares in issue than anticipated and therefore the share price will move forward at a superb rate, interest will be further generated, shares will be more liquid and sentiment will be very high. Solution - Patience, top up on lows, keep accumulating if funds allow given the stonking fundamentals, why? The risk is far lower the closer the bottom you get to, then the turn comes and it doesn't have to go very far forward to bring your losses back in line, then when it gets back to reasonable and true trading levels you are in more profit than you were last time. Retail investors are manipulated through fear of paper loss, what if i don't recover losses, some other stock looks ripe i will try and recover over there and come back and so on and so forth...........its a game, most company fundamentals are poorly researched by the mm's and they look on BB's and social media to judge sentiment, they then play on that either in a positive way to walk up a share or negatively to walk down a share. Its all a game, turn off, believe in the fundamentals, because they are without doubt and without debate some of the strongest fundamentals around for any AIM stock. Thats it BT - The story so far!
fsjamescampbell: Thoughts on the following you think it would help the current situation?? I reckon a special dividend would help. its not about the money because with 200k shares and a special divi at say 1.5p that gives £3k - i would simply buy more HUM shares with win! Its a kind of simple initial share buy back. With 350m shares in issue to that would only cost HUM around £5.25m or $6.8m which is around 50% of the general quarterly free cash amount. They could announce it prior to the end of Q3 with a payment date mid Q4. I am pretty sure that is would not only generate interest but it would bolster confidence that HUM are returning value to shareholders. They are certainly hitting all targets operationally, but with surplus cash and an amount that isn't going to stress the free cash balance it would certainly prove to be a much needed boost. Sometimes all it takes is for a little thinking outside the box. It is hard to see a high profitable company's share price take on a continues 6 month slide when all they have continued to report is good news..........actually great news! Well done to Dan Betts, Bert Monro and all the management team for the continued excellent delivery out in the field. It really is a comfort to know that fundamentally everything is more than sound. But knowing the market is also a skill and many awful AIM companies play the AIM game to maximise MCAP and share price levels. I am HUM long and very strong but i think some battling in the market is needed because 26.75p and an MCAP of around $120m when they generated $50m in revenue and $20m in free cash in just their first full Q of production, well 26.75p is completely out of alignment with achievements over the last 12 - 18 months. Endeavour CEO picked up the first ever gold coin from yanfolila and they could well pick up the first highly valuable and cash generative gold producing company for an absolute steal. This has to be a concern and it has to be mitigated as each day we are being rifled the reality of a takeover is becoming ever closer and more and more attractive!
lurker5: UKG - which is only $41m to HUM in the year, and will take nearly four years to clear the liquidity deficit and build up liquid assets to equal the current market cap (Fixed assets will be worth nil eventually). That doesn't take account of sharp fall in cash flow in 2020 as mining moves to Komana West pit so will take a lot longer. HUM has been keeping very quiet about that. Its why those who do thorough analysis think Hum is still expensive. Also shows how dangerous to use very simplistic measures like a current level of cash flow or apparent balance sheet total assets and profit for a company due for sharp fluctuations in both and with a very short life. Hopes for Yanfolila extended life are just that at present, and savvy investors won't give credit for it unless at a much lower share price. I agree with those who think a fall to the low 20's is likely.
lurker5: PeterP So What do you think a A professional investor would be ? Someone who understands balance sheets, business analysis, investment analysis, how to value a share, what influences a share price, what alternatives to HUM or exposure to gold might be out there ? - and who can recognise a dodgy recommendation by Doh!fort ? In HUM's case they would comprise those who were in to ride up the initial ramp up and have now hopped it; and/or have looked at HUM more recently and passed by on the other side. What's your definition, and who/where do you think they are ?
jonnycash1: Thanks for your views. Perhaps the elections on July 29 are a focal point. The situation seems to getting worse and that may be a factor for HUM share price. When something looks to good to be true, it is. My problem is why is this stock so cheap. I don't know, but there will be a reason. If I knew what that was, I would be more inclined to buy in.
rickyhatton: 1. The AGG deal is effectively a "free" acquisition of 1m+++ oz gold to HUM. AGG get an uneconomical stand alone project going nowhere into production using hums capex and mine, and retain 50% of Kobada, with initial 30% of net cash flow. AGG are given a bit of cash to fund the DFS. And permission to issue a few more shares to fund the DFS, if necessary, with hums contribution capped at next to nothing. The real hum contribution is the returnable capex, but not kicking in until 2019, so as hum have said, no dilution to shareholders. 2. Hum pays net cash (premium above value of current AGG SP) of CD$1.2m for 40m AGG shares Hum pays net (premium in hum shares above current SP) CD$1.47m for 49m AGG shares (Hum have 40m (protection) warrants valid for 36 months that will likely not need to be exercised and have guarantee that it will be repaid through cash flow even if they have to be exercised) AGG fund DFS (this is capped to cost Hum an additional net max of CD$0.33m buying AGG shares above current share price to maintain 20% interest in AGG) So total net cost to hum is only $CDN3m ( this net cost could go up or down depending on AGG share price) 3. Hum fund up to $35m (?us or cdn) of capex all returned through 70% of net cash flow, then reverting to 50% of net cash flow 4. Hum get 50% of Kobada's 2.2m gold oz. ( 40% if government take 10%) Stonking deal for hum, giving major longevity of production, and increased production through concentration plant feeding ore at circa 20g/t
noirua: The loan book is a drag on the HUM share price as well as waiting to late 2017 for the first gold dore pour. There is a bottom reversal signal on the candlestick chart which is encouraging. HUM however has been reluctant to move out of the near 12 month sideways movement positively.
bsharman3: Isn't it ironic that the HUM share price doesn't rise when the gold price rises but falls when the gold price falls..
Hummingbird share price data is direct from the London Stock Exchange
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