We are trimming our 5% holding in Evolution Mining (EVN) back to a 4% target. In practical terms, the position is higher given 32% open profit. We view this as a prudent approach ahead of their upcoming quarterly.
MM are trimming EVN in the Active Growth Portfolio, targeting a 4% portfolio weighting around $3.80
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We are taking profit on our 3% position in Paladin Energy (PDN) after it hit our target above $1.50 yesterday. We are bullish the Uranium space in the medium term, and plan to re-enter at a later stage. NB: The position is being retained in the Emerging Companies Portfolio.
MM are selling PDN in the Active Growth Portfolio (only), taking profit around $1.48
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We are buying into South32 (S32), a stock we have had on the radar for months. We are starting to see momentum/interest come back into the stock that is ‘cheap’ on most metrics, particularly following the sale of Illawarra Coal, for a great price.
MM are buying South 32 (S32) in the Active Growth Portfolio, targeting a 4% weighting around $3.17
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