4257 days ago
I spent two years working along Sam Bottell as he worked with minesite.com and oilbarrel.com and he is a good, honest and clever chap. Now that he is starting his career freelance writing as well as an organiser of the UKInvestor Show I have no hesitation in helping him along via this blog as a guest contributor. As such I bring to your attention a share sell tip on FTSE 100 listed copper giant Antofagasta. Sam writes...
I have been bearish about Antofagasta (ANTO) twice on these pages, twice suggesting that the shares were overvalued. The publication of calendar 2012 results on March 12th improves the story a little but not dramatically. The shares have fallen sharply since my original bear calls and as such some might speculate that the copper giant offers bottom fishing appeal at £10.29, valuing the FTSE 100 mining giant at £10.144 billion.
4308 days ago
I spent two years working along Sam Bottell as he worked with minesite.com and oilbarrel.com and he is a good, honest and clever chap. Now that he is starting his career freelance writing as well as an organiser of the UKInvestor Show I have no hesitation in helping him along via this blog as a guest contributor. As such I bring to your attention a share sell tip from TradingResearch Point on Antofagasta. I happen to agree with his conclusion.
A calendar 2012 trading statement published on January 30th by FTSE 100 listed Chilean copper miner Antofagasta (ANTO) did not disappoint us bears. If anything it gave us further encouragement. It is not just that the 2012 numbers were mildly disappointing but that the 2013 guidance is very weak and with the macro outlook for copper unhelpful this is not going to be a good year for the company. Having advised selling at 1328p on January 10th the stance is unchanged now, even though the shares have already fallen back to 1127p.
