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General Category => Shares => Topic started by: devan on October 23, 2013, 10:06:23 am
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anyone care to guess how low it will go??
Seems a bit of a steep drop. I know about the 16% loss in production, but does it really warrant such a huge drop in the share price??
Is there something else going on here?? maybe more bad news I am unaware of??
Want to know if I should buy more now or wait a few days for the price to drop more??
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devan, KIO has been a long time favourite of mine, but - that was a long time ago and I don't miss them, just who they used to be. (Sounds like a song).
Consensus is 'Hold' but it has lost 23% value in the past year and 14% the last 7 trading days. I think it will remain flat to more downside over the next year. But don't let me influence you, that's just what I would have done. Good luck either way.
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thanks Moneypenny. I am looking at it for a long play, as its a pretty decent divi payer. I agree though that it has lost some of its luster, but still think its got value in the long haul. Will probably wait to see if it breaches R400 before I get in.
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8)
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Anyone still holding KIO? I'm down 32% and not sure if I should bite the bullet and sell or hold to see if it picks up again:(
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I am still holding. also lost about 30%, but I have no intention to sell. Actually thinking if I should get more :)
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haha, ok. It pays good dividends so that helps a little bit. What's your reasoning for buying more? The dividends or that the price might go up?
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Kumba hit new intraday low yesterday at 29202.
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Its dividend yield is around 10% right now and I anticipate the price of the share will go up, but that is long term.
We have to wait for the chinese to need more iron ore for the price to go up ... the fact that bhp and some others have decided to put more ore into the market has not helped, as there is now an oversupply, but I am sure there will be a leveling out soon enough
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This http://www.moneyweb.co.za/moneyweb-markets/jse-declines-as-iron-ore-producers-walloped (http://www.moneyweb.co.za/moneyweb-markets/jse-declines-as-iron-ore-producers-walloped) pretty much confirms what you just said.
I'll keep it for now as I think it's close to leveling out and let's hope China continues to grow a little bit quicker than it's doing at the moment ;)
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with pretty good data coming from the USA in the past few months, I am sure china will start the machinery again and be in need of resources in the not too distant future.
If only I knew where it might level off, then I can get some more :)
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Peter01, u need to figure out why it is going down.
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London - Concern about a slowdown in China hammered stocks and commodities on Monday while signs of differences between major economic powers on the need to stimulate growth further clouded the outlook.
Asian shares fell as investors worried a key measure of Chinese manufacturing, due on Tuesday, could indicate activity was contracting.
The slide was carried over into Europe, where fears over Chinese demand hit miners' shares.
Chinese steel and iron ore futures hit record lows, down 4 percent, plagued by excessive supply and demand worries.
Brent crude oil fell below $98 a barrel, hit by similar factors.
Three-month copper on the London Metal Exchange was down 1.4 percent at $6,741 a tonne. - Reuters