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Share Name Share Symbol Market Type Share ISIN Share Description
Steppe Cement Ltd LSE:STCM London Ordinary Share MYA004433001 ORD NPV
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  0.50 1.96% 26.00 25.00 27.00 26.00 25.00 25.50 265,489 11:06:58
Industry Sector Turnover (m) Profit (m) EPS - Basic PE Ratio Market Cap (m)
Construction & Materials 64.4 8.4 3.2 8.0 57

Steppe Cement Share Discussion Threads

Showing 2426 to 2450 of 2775 messages
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DateSubjectAuthorDiscuss
18/9/2019
11:14
Bobhope 10% at these prices
oakey1
18/9/2019
11:06
Bought some more too
oakey1
18/9/2019
11:05
A bit of a newbie on here bought a tiny amount 5k shares. Looking to buy more, are the dividends paying 6% or 10%.
bobhope18
18/9/2019
10:47
Great price - am envious as I have no cash to top up.
king suarez
18/9/2019
10:19
Went in at 29.3p.
brasso3
17/9/2019
19:30
My first purchases were badly timed at 31p and 33p just before the drop to 24p. I would like to get my average closer to 30p.
brasso3
17/9/2019
19:27
You and me both. Price is all wrong, afaiac
mattjos
17/9/2019
19:18
Hoping for a top up opportunity here at 28p if it tests the support line.
brasso3
13/9/2019
18:25
President Tokayev holds the keys to the gate that leads to the West via Central Asian countries. Xi, China's president for life, needs access through this gate in order to secure and inland route to the oil fields of Iran, instead of relying just on a sea route that could be blockaded by Western forces led by the USA. XI multi billion dollar Belt and Road initiative, will make Kazakhstan the wealthiest Central Asian country. Tokayev also holds the keys to the gate through which Eastern European vehicles must travel when delivering goods to China.
azalea
13/9/2019
18:22
Steppe Cement Zero net debt, all excess cash to shareholders Steppe Cement has performed strongly YTD, with its share price rising 44%. This was driven by a notable improvement in financial performance, which allowed the company to bring its net debt to zero as of 1H19 and to pay hefty dividends. Meanwhile, the market backdrop could get tougher in the medium to longer term due to excess cement capacity in Kazakhstan and shrinking export opportunities in Uzbekistan. Therefore, we are turning more conservative and project a flat-to-slightly-declining trend for EBITDA and net income from 2020. Still, the company’s cash generation and low leverage imply dividend yields at 14%, which is more than enough to justify our positive stance on the stock, we believe. Our unchanged 12-month Target Price of GBp 40 implies an ETR of 43%. Buy reiterated. Well-prepared for potential headwinds. The recent favourable market environment has helped Steppe Cement bring net debt to zero as of 1H19. Even though net debt was again at USD 5.1mn in late August, this was due to the distribution of USD 8.3mn as dividends, and we believe that the number will be close to zero again by the end of the year. This makes Steppe Cement well prepared for any potential headwinds that might result from rising supply due to capacity expansion in Uzbekistan and Kazakhstan. Kazakhstan: excess capacity. Kazakhstan’s cement capacity stands at some 15mnt and is set to expand somewhat, which will likely send capacity utilisation to the mid-sixties. Given our projected 2018-23F demand CAGR of 2% and shrinking export opportunities, this will likely increase pressure on the domestic market and limit the ability of incumbents, including Steppe Cement, to increase volumes or prices under our base case scenario. Uzbekistan: shrinking opportunities. The projects to build some 15mnt of new cement capacity on the top of the current integrated plant capacity of some 9mnt would over the next couple of years likely close the local demandsupply gap of 3-4mnt, even accounting for execution risks. We believe that this would largely shut this lucrative export market for Kazakhstan. Attractive dividend yields. It is our view that this worsening backdrop will likely render meaningless any cash reinvestment or accumulation. Meanwhile, Steppe Cement’s relative efficiency, especially vs. wet producers (still one fifth of the total capacity in Kazakhstan), and low debt will probably help defend its market share and generate stable positive cash flows. These assumptions point to attractive potential dividend yields of some 14% in the medium term – and even at a half of our EBITDA forecasts, Steppe Cement would be able to return a 4-5% yield. Valuation and risks. We derive our 12-month Target Price from a DCF model (WACC 15.6%, TGR 2%). The key downside risks are lower dividends, ‘irrational217; pricing by competitors, as well as the overall economic environment and cement market trends. Vladimir Bespalov, Equities Analyst +7 495 663 46 51 // vladimir.bespalov@vtbcapital.com
wilo101
13/9/2019
16:41
Kazakhstan News Articles... httPs://astanatimes.com/ Kazakh GDP grows 4.3 percent over eight months, says PM (12/9/2019). Kazakh, Chinese leaders agree to develop long-term strategic partnership (12/9/2019). Kazakhstan seeks high-tech, agricultural cooperation with China, says Tokayev during Beijing Business Council meeting (11/9/2019).
pecuniarum copia
13/9/2019
14:32
Was in Beijing this week, did you all see the picture of Xi and Tokayev and the new long term strategic partnership of The PRC and Kz and the 2 of them together? Tokayev speaks fluent Chinese
wilo101
13/9/2019
14:30
The 1st Half is always almost irrelevant as the season crescendos in July through August and cash pours in until the season closes by October/November, then one repairs and maintains and produces and stockpiles all winter for next season which starts in earnest after the snow melts in April
wilo101
13/9/2019
14:27
6p divi? A shame that those (including myself) who purchased for a very strong 10%+ yield were confronted with a (forced) seller which resulted in a 30% capital loss
sportbilly1976
13/9/2019
13:22
H2 2018 generated operational cash flow of $16.4m ($21.3m FY less $4.9m at HY). If there is a repeat of that performance over the summer trading period then either debt will be fully paid off in the next 6 months, or there could be a doubling of the dividend to 6p - or perhaps a bit of debt reduction and an smaller dividend increase. Either way, based on 2018 performance, 6p will be on the cards next year imo. Just need market conditions to remain on par (we already see H1 2019 cash generated of $7m v $4.9m from prior year so over a 40% increase).
king suarez
13/9/2019
13:10
Its not that the FY 2019 dividend will not at least match the 2018, the suggestion was that by introducing an Interim dividend, it would make the shares attractive to potential investors who are seeking a regular income. The next interim report will show that the outstanding loan of USD5.1m used to finance the purchase of the 300 rail wagons including the maintenance contract, will have halved.
azalea
13/9/2019
07:54
9 million debt, and they just paid an 8.3 million dividend, and people are complaining they don't pay more dividends. I thought investment was supposed to reward the patient.
zangdook
13/9/2019
07:46
Thanks King I thought I must have got it wrong The accounts not brilliantly set out for simpletons like me
ntv
12/9/2019
13:36
@NTV, Think you may have miss-read/interepreted slightly? My reading: 30 June 19 Debt 10.7 (total debt, not net debt) Cash 10.8 Net cash +0.1 31 August 19 Debt 9 Cash 3.9 Net debt (5.1) Change in net cash/debt position -5.2m + dividend paid 8.3m = $3.1m cash generated in July/August combined - we don't know the change in receivables/payables as we don't have those balances as at end August yet. Looks like cash flow is increasing from end June onwards, as we would expect due to increase in production/sales in H2 summer months (see last year H1 2018 v FY 2018 results).
king suarez
12/9/2019
13:27
hxxps://jimmywilson612.wixsite.com/ukstockwatch/post/steppe-cement-stcm Here is my 2 cents on STCM - I think investors need to see how far we've come over the past few years. As an example: 2016 Interim results - Debt (minus cash) stood at $28M 2019 Interim results - Debt (minus cash) stood at $5.1M This offers more flexibility for the directors to invest to grow, buy a competitor, share buyback or dividends.
jimmywilson612
12/9/2019
13:15
@ Saucepan it's not saying there will be a bigger hit to come - the biggest hit was taken in H2 2018. The USD/KZT is only important in that about half the debt is denominated in USD. As a UK resident the GBP/KZT rate is at least as important. If the GBP was to strengthen substantially against the KZT then net earnings will be worth less in GBP terms.
pigeonfeeder
12/9/2019
13:02
Not sure if I have got this right so that I am hoping someone with knowledge can correct me if I am wrong @30th June net total debt $10.7m but they had cash of $10.8m so real debt was $21.5m? @31st August nett total debt $5.1m after paying the dividend of $8.3m so Iam assuming that even after paying the dividend they appear to have reduced debt $5.6m so I make it a cash inflow of $13.9m but am forgetting basics to do with stock movements or slowing of paying of creditors? TIA
ntv
12/9/2019
11:04
Just a horrible spread, but that's to be expected.
kennzo2020
12/9/2019
09:40
I would imagine a few traders jumped out with no news of an interim dividend causing a drop, this is a very volatile share as you know. If you believe the story, which i do, then nice to have the opportunity to increase.
fozzie
12/9/2019
09:34
I've been watching this stock with interest for a while and its triggered both my interest and alert numbers..... Could be the time to move in.
kennzo2020
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