Good morning to all. Today is moving day for SSM. Any way you look at it SSM is oversold, no question.
SSM according to analysts is trading at PE ratio of around 2 while the sector as a whole trades at a PE ratio of around 4.
SSM market cap currently at 45mil, it should be 90mil. Now 90mil divide by 173mil shares makes sp 52c. Even if SSM announce a profit forecast of 20mil IMO its cap should be at least 60mil and that equates to a SP of 35c.
In the next 2-3 years a major portion of spending in the Aus economy will be undertaken by government dept's and that we be mainly spent on infrastructure. No sane person can honestly say SSM won't get a nice piece of that action.
In the absence of evidence to the contrary, I say SSM oversold and today is moving day.
on sky business last night, page-12
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Last
$1.34 |
Change
-0.005(0.37%) |
Mkt cap ! $822.2M | |||
| Open | High | Low | Value | Volume |
| $1.34 | $1.35 | $1.32 | $877.1K | 658.1K |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 3 | 6846 | $1.33 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $1.34 | 59 | 1 |
View Market Depth
| Last trade - 16.10pm 19/07/2024 (20 minute delay) ? |
| SSM (ASX) Chart |