Thoughts on SSM & SFR, please

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 26/05/2023

Thoughts on SSM & SFR, please

SSM has continued to fall since you recommended to sell it some time ago. Good call. Possibly the current selling has a bit to do with the fast approaching EOFY. Is this one you would consider buying back into after 1/7/2023? SFR has fallen in line with the drop in copper prices. At what level would you considering averaging? Thanks

Answer

Hi Ian,

Service Stream (SSM) 62.5c: We do still have it on our radar and have continued to follow its results. Their telco division is doing well, however their utilities business is still struggling so at this stage we see no reason to take SSM out of the too hard basket, but that might change.
Sandfire Resources (SFR) $5.51: We added to our position on Friday ~$5.50 but only by 1% to a 4% weighting. We’d view a 5% weighting as our likely endpoint in SFR.

chart

Sandfire Resources Ltd (SFR)

LAST UPDATED 25/05/2023 11:50

Latest Reports

Weekend report 27/04/2024

Weekend Q&A: Strong inflation crushes hopes of a rate cut in 2024

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%.