This report is not a personal recommendation and does not take into account your personal circumstances or appetite for risk.
Trade Parameters
Technical Observations – For
Technical Observations – Against
Attractive technical set-up on terms of downtrend. Potential for return to channel floor, to revisit the share price lows of the last few months. Shares sensitive to South African Rand (weak helps, strong hinders) as well as political instability. Potential for trading update to disappoint (like in May and early Aug). Company has already said H2 will be impacted by maintenance shutdowns.
Consensus is very bullish (zero sell ratings), but as they say “if everyone’s a buyer (or already holding), who’s left to buy?” Potential thus for downgrades (Holds down to Sell?), especially given the shares’ downtrend and target prices being so skewed to the upside. Too much? Most bearish broker target suggests downside to summer lows.
Next Event: Trading update, 11 Oct; Capital Markets Day, 17 Oct
Latest Broker 12-Month Consensus: 47% Buy, 47% Hold, 7% Sell (full breakdown on request)
Source: DowJones Newswires, Reuters News, Bloomberg or Company Press releases
| Share | 1wk | 1m | 3m | 6m | 1yr | 2yr | 3yr | 4yr | 5yr |
| Perf % | -0.3 | -1.1 | -2.3 | 5.7 | 29.6 | 48.2 | 88.4 | 87.6 | 236.3 |
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