Trade Alerts – Pinnacle Investments (PNI), Moelis Australia (MOE), Geopacific Resources (GPR)

Sell Alert - Pinnacle Investments (PNI)

Pinnacle Investments (PNI) was out with a good result early in the month and after a quick rally, shares have been weaker over the last week. The set up short term is unappealing so we are taking a profit. The fortunes of PNI have been helped by a strong market and while we remain broadly positive the market, we are also looking at a number of opportunities into weakness so having spare capacity is key. Technically PNI looks ripe to cover the gap to $8.

Sell Alert - Moelis Australia (MOE)

Moelis reported well last week, with EBTIDA only falling marginally to $60m for the full year. The second half showed their leverage to recovering financial markets, the initial reason we bought the stock last year. For now though, our thesis has largely played out and a good result saw MOE fail to breakout of its range above $5.10. We see this as an opportunity to sell MOE for a profit.

Sell Alert - Sell Geopacific Resources (GPR)

GPR has been a bumpy ride in the Emerging Companies Portfolio, initially doubling before giving back all of the rally over the last ~6 months. They are still exploring and building out the resource however concerns remain about PNG mining and the gold price is weakening.