scroll

MM’s view on SGM

Advanced Search

Our Q&As are emailed in our Saturday Morning Report, find the answer to this question below.

Ask a question

The Latest Q&A

Question asked 19/01/2021

MM’s view on SGM

Was wondering what your thoughts are on SGM.” – Robert W.

Answer

Morning Robert,

Metal recycling company Sims Ltd (SGM) looks great and its one of our misses of 2020, we called it higher but underestimated just how strong its advance would be. I feel a period of consolidation is probably close at hand, but MM will be keen buyers if the stock falls below $13.

SGM

MM is bullish SGM.

Add To Hit List

chart

Sims Ltd (SGM)

LAST UPDATED 19/01/2021 11:43

Latest Reports

Afternoon report 26/04/2024

The Match Out: ASX (nearly) gives up week’s gain in tough Friday session

The local market dropped ~100 points on the open, failing to see any reprieve following two weaker sessions out in the US since our close on Wednesday. After dropping back below 7600 the index traded in a reasonably tight 30-point range for the rest of the session, failing to join in on the rally across the region and what’s showing on the US Futures ahead of their Friday session. BHP managed to take 31pts off the market alone today, weakness coming after they lobbed an all scrip bid for Anglo American (AAL LN). Despite the soggy end to the week, the ASX200 finished marginally higher, +8pts / +0.11%.

Morning report 26/04/2024

What Matters Today: With rate hikes back on the table, are retail stocks too expensive?

The ASX consumer discretionary (retail) stocks have demonstrated their need for a strong bond market. In the short term, we remain concerned they’ve disconnected slightly from the influential credit markets. Futures markets are starting to price in the risk of rate hikes in 2024, with some well-respected economists becoming increasingly hawkish. Judo Bank’s Warren Hogan is calling for three hikes to 5.1%; previously, he was looking for cuts in 2025, but the recent hot inflation data has seen him reverse this outlook. We feel the call for rates to hit 5.1% in 2024 is too aggressive, but we cannot see Michele Bullock considering rate cuts until the inflation genie is firmly back in the bottle.