Weir Share Discussion Threads

[apad] 09/5/2012 12:56

GI
I wasn't agreeing with you about everything!
Although I also hold ABC:-)
apad

[greek islander] 09/5/2012 12:00

APAD
At the moment agreeing with GI not proving to be good. GI having very bad time with his stocks. Only ABC doing okay. Looking forward to Naxos in June away from the stock market.

[apad] 09/5/2012 10:15

Going against the trend. Bought more again this morning.

Raised my average buying price to 1200.

Agree with GI in principle.

Timing has never been my good point though...

apad

[johnv] 09/5/2012 10:13

Sanks wont be with us till 3pm when hes mum picks him up from school.

[phil140158] 09/5/2012 10:09

In the words of Duncan Bannatyne - I'm oout! SB stopped out for a £2.5k loss. What will I tell the wife? Should have listened to Sanks! Back to work then!

[brain smiley] 09/5/2012 10:06

Last updated:May 3, 2012 9:45 pm

Weir faces threats from mining cutbacks

By Bryce Elder

Weir Group hit a seven-month low on Thursday on fears of reduced spending by mining companies.

The pumpmaker, which is London's most heavily shorted blue-chip stock, was under pressure after Rio Tinto and BHP Billiton indicated they were scaling back expansion. Mining equipment accounts for between 10 and 12 per cent of group earnings, according to Panmure Gordon.

"The unthinkable is happening and Weir may have to fight fires on two fronts," Panmure told clients. "The first is the imminent collapse in the pressure pump market in North America and the second looks to be the emerging threat of a freeze in miner capital expenditure."

Ahead of a trading update from Weir next week, there was also gossip circulating that the group may be considering a large acquisition. However, Weir's current debt load led analysts to doubt the speculation.

A sharp downturn in resources spending similar to that seen in 2009 would push Weir's 2013 net debt to 1.23 times operating earnings, said Panmure. "This looks manageable, so we do not expect the storm to rage on a third front," it said.

Weir closed 3.8 per cent lower at £16.16 as stock held by short sellers reached the highest on record. More than 20 per cent of the free float was out on loan, equivalent to 18 days' average volume, according to Data Explorers.

[elmfield] 09/5/2012 10:01

the market looks ahead, and it does not like what it sees.

[tratante] 09/5/2012 09:58

Anyone would have thought they had issued a profit warning, but their biggest division minerals is expected to be ahead of expectations, industrial power ahead, oil and gas aftermarket ahead etc etc.

The market is irrational, but you can't beat it!

[elmfield] 09/5/2012 09:58

looking ahead, to many unknowns.

[greek islander] 09/5/2012 09:40

Much as I expected with weaker areas of the company offset by stronger ones. However, the Morgan Stanley overreaction is depressing and will have a major impact on the share price No doubt. Looks like a slow recovery over the next twelve months is now all we have to look forward to. I need to read the RNS in more detail now.

[apad] 09/5/2012 08:43

Looks like I was a bit previous. A stream of AT sells.
apad

[apad] 09/5/2012 08:09

Increased holding
apad

[apad] 09/5/2012 07:33

Debt increase attributed to acquisition and debt was about £25,000 per employee (my quirkish metric, phil), which is not excessive.
apad

[phil140158] 09/5/2012 07:27

The only bad news I can see is "new frac pumps down to 15% of oil and gas revenues compared to 30% in 2011" and "nett debt is higher" - BUT - this is more than offset by increased activity in minerals and power and industrial! Given the "macro-economic" conditions, I don't think the IMS could be any better than that! If the share price falls, WEIR will be Granny's 2012 ISA.

[tratante] 08/5/2012 08:22

I know nothing about such things, but interesting that IC came out with such a strong buy recommendation last week when they only needed to wait a week to comment in the full knowledge of the IMS.

We will know tomorrow.

[greek islander] 07/5/2012 18:28

Tratante
Interesting headline. If it's the case and Weir equals original company expectations then the share price should indeed rise substantially. We shall just have to wait and see,

[sanks] 07/5/2012 01:37

The drip below £10 is crystal clear on my Panasonic Scientific calculater
Hope it helps
Sanks

[plattjo2] 06/5/2012 12:12

Bad press in SaterdaysScotsman. Down by up to 200p

[pugugly] 06/5/2012 10:50

APAD: But ML recommendation (Toms of 3rd May) still a BUY with price target of £23.

[apad] 06/5/2012 10:32

From the Telegraph:

Weir's own house broker, Bank of America Merrill Lynch, has downgraded its forecasts for 2013.

Last week, analyst Alex Toms said, due to more cautious comments regarding SPM than expected, it has cut its earnings per share estimate for next year to 9pc below consensus forecasts. A Weir spokesman declined to comment.

apad

[sanks] 05/5/2012 08:09

Shame realy how the lambs are lead to the slaughter.
Not being able to see the wood for the trees is criminal in this game, but to be ignorant as to what the market is telling you, will see the average nobularjockey finish trading for good with zero capital left.

I told many genuine nobular ones when this was at its highs of a beautiful vibrant colourful suckulant shagful short this was...and how right i was, with respect.

Now i tell you this feels like its technically poodaad, henced a drip below £10 is within sight.

I have told the same to the poodaays on TLW, of which i closed my positions yesterday, and like the rampant poodaays on here, they continue to ramp.
I have also told the nobular ones on RB of the bubbled price, and have taken short doggie positions accordingly. Like the nobs here, they also refuse to listen.

The markets are a good place to make money. You are guaranteed to find buyers of bubbles, with sheep like mentality bringing more rampant poodaays who entice more sheep.

Keep it up boys....but like EMG has recently shown...there's always another new floor tomorrow.

Let me know if i'm helping
Sanksalot

[apad] 05/5/2012 08:06

phil,
Judging by the volume, I think there were a lot of positions closed on Friday.
My view of WEIR is so confident that I don't care whether the price rises or falls after the rns as I've got a decent holding and it'll either increaase in value or I'll buy more.
God's breath did I really type that!
apad