Weir Share Discussion Threads

[philanderer] 07/4/2022 11:01

UBS cuts Weir Group price target to 2,010 (2,120) pence - 'buy'

[philanderer] 28/3/2022 09:40

Goldman Sachs raises Weir price target to 2,000 (1,920) pence - 'buy'

[philanderer] 18/3/2022 12:03

Weir is top buy for 2022, says Berenberg


Mining services group Weir (WEIR) is a top buy for Berenberg this year, which thinks there is more outperformance to come.

Analyst Joseph Bloomfield retained his ‘buy’ recommendation but reduced the target price from £22.40 to £21.90 on the stock, which slipped 1.25%, or 23p, at £18.64 yesterday.

He said the group’s full-year results ‘provided us with the first full-year snapshot of the group as a mining equipment pure-play’.

‘While 2021 served up its own challenges, both macro and company-specific, we think that Weir weathered the storm well,’ said Bloomfield.

‘Looking ahead, we remain bullish: end-market momentum remains positive, margins withstood the cyberattack and are now trading towards the 17% target, and we believe that the group is well placed to navigate the inflationary pressures.’


citywire.com

[philanderer] 17/3/2022 10:12

Berenberg cuts Weir Group price target to 2,190 (2,240) pence - 'buy'

[km18] 02/3/2022 15:56

Weir encompasses departments engaged in engineering businesses. The firm is also known for the provision of slurry handling equipment and associated aftermarket support for abrasive high wear applications used in mining markets. Given these emerging engineering and stimulating mining initiatives, the group optimised operating profit to £296.2m from £228m in 2020. As a result, EPS growth reached 31.9%, hence the firm is providing ample returns on investment to shareholders. Furthermore, the firm is able to fund its operating, investing and financing activities effectively, illustrated by the P/FCF ratio of 24.5.



Keep up to date with Wealth Oracle AM

[philanderer] 02/3/2022 13:07

Results well received.

[philanderer] 11/2/2022 11:53

Jefferies raises Weir Group to 'buy' ('hold') - target 2,090 (1,800) pence

[philanderer] 09/2/2022 10:15

Goldman Sachs raises Weir Group to 'buy' ('neutral') - price target 2,030 (2,020) pence

[philanderer] 08/2/2022 10:55

JPMorgan cuts Weir Group price target to 1945 (2160) pence - 'overweight'

[philanderer] 19/1/2022 10:30

GOLDMAN SACHS RAISES WEIR GROUP PRICE TARGET TO 2,020 (1,940) PENCE - 'NEUTRAL'

[philanderer] 03/12/2021 14:02

JPMORGAN RAISES WEIR GROUP PRICE TARGET TO 2,160 (1,920) PENCE - 'OVERWEIGHT'

[philanderer] 05/11/2021 11:01

RNS:

The Weir Group has agreed to acquire Motion Metrics, a leading Canada-based global mining technology business, for an initial consideration of £89m1 payable in cash upon completion, subject to customary net debt and working capital adjustments.

Motion Metrics is the market leading developer of innovative Artificial Intelligence (AI) and 3D rugged Machine Vision Technology used in mines worldwide. Its technology helps miners increase safety, efficiency and sustainability of their operations. As part of the agreement, Motion Metrics Vancouver headquarters will become Weir's global centre for excellence in AI and Machine Vision technology.

[philanderer] 29/10/2021 10:08

Buxton backs Weir after cyber attack


Weir (WEIR) may have been ‘frustratingly weak’ recently but Jupiter’s Richard Buxton, who holds the stock in his £829m Jupiter UK Alpha fund, is still backing the specialist mining engineer for the long term.

While a recent trading statement was ‘very encouraging’ thanks to strong order flow, Buxton said: ‘Unfortunately, it did have a ransomware cyberattack that put it offline for a few days.’

The financial impact from lost revenue and correcting weaknesses that led to the attack has come in at £20m.

‘It was a one-off and not its fault but it took the market by surprise,’ said Buxton.

‘It will continue to benefit from an environment where mining companies are spending more on renewing their equipment.’

Speaking on a quarterly fund update, the Citywire A-rated manager said Weir was a natural beneficiary from the shift in greener resource extraction thanks to its technology that allows miners to crush and grind without water.

‘It had an unfortunate incident recently but on a longer-run basis, it is very well positioned,’ he said.

The shares were up 0.3%, or 6p, at £17.54 on Thursday, with the stock now down more than 10% over six months.

[philanderer] 12/10/2021 10:07

BERENBERG INITIATES WEIR GROUP WITH 'BUY' - TARGET 2060 PENCE

[philanderer] 11/10/2021 08:48

JPMORGAN CUTS WEIR GROUP PRICE TARGET TO 1,920 (1,970) PENCE - 'OVERWEIGHT'

DEUTSCHE BANK CUTS WEIR GROUP PRICE TARGET TO 1,900 (1,925) PENCE - 'HOLD'

[philanderer] 08/10/2021 22:49

Market report:

Despite its IT troubles, analysts at broker Shore Capital said Weir was still 'well positioned to take advantage of market dynamics in the long-term'.

They added: 'Population growth, the convergence of living standards in developing economies, urbanisation, ore grade decline and decarbonisation all point in Weir's favour as demand for essential mining commodities is growing/required, especially for battery metals given the significant expected transition into renewables.'

The view was echoed by analysts at Peel Hunt, who said despite the 'very serious' cyber-attack Weir had also outlined 'an encouraging trading backdrop' which reinforced their confidence in the stock.

[philanderer] 08/10/2021 09:27

Not as bad as I thought :-)

[philanderer] 07/10/2021 23:00

The overall impact will reduce expected profits from £ 270m to £ 230m to £ 245m, Weir said.


ALGO BOT NEWS @algobotnews

Jefferies says 'unfortunate' ransomware attack to impact Weir Group EBITA

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Ransomware attacks, in which hackers freeze a target's computer systems, steal data and threaten to destroy or publicize it if they aren't paid, have accelerated in recent years, paralysing hospitals, schools, businesses and more.

Weir now expects full-year profit before taxation and amortisation to be between 230 million pounds (US$313.2 million) and 245 million pounds, as delay in shipments due to the attempted hack led to revenue deferrals.

The company said that so far there was no evidence any personal or sensitive data had been compromised or encrypted.



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The minerals division is expected to carry the brunt of the impact due to its engineering and supply chain complexity relative to the energy services business unit. The direct costs of the cyber incident are expected to amount to £5 million.

“Our forensic investigation of the incident is continuing, and so far, there is no evidence that any personal or other sensitive data has been exfiltrated or encrypted,” Weir said in a media statement.

“We are continuing to liaise with regulators and relevant intelligence services. Weir confirms that neither it nor anyone associated with Weir has been in contact with the persons responsible for the cyber-attack.”

[philanderer] 07/10/2021 22:44

Maybe 1250p .


GLASGOW’S Weir Group has issued a profit warning after being subjected to an attempted ransomware attack.

[philanderer] 07/10/2021 19:04

Sh1te, that's not good releasing that update after the market close.

Big mark down tomorrow morning.... 1400p ??

[philanderer] 06/10/2021 13:54

xd tomorrow morning for the 11.5p dividend

[philanderer] 22/9/2021 13:47

Morgan Stanley analyst Robert Davies raised the firm's price target on Weir Group to 2,200 GBp from 2,190 GBp and keeps an Overweight rating on the shares.