Argonaut still value this at 35 cps with a PE of 5.2 on FY21 estimated earnings.
There has been persistent selling for some time, but I am puzzled as to who it is given the outlook. Six substantial shareholders (mainly Directors and ex-Directors) hold 77.8 million shares or 62%. Four have raised holdings and 2 are unchanged.
Of the top twenty one holders four have raised holdings, 12 unchanged, 3 are new so raised holdings and only 2 reduced holdings over last year.
National nominees fell 378493 (and still hold 3.7 million) and Moat investments fell 1.2 million (and still hold 937500). So unless a lot of small holders are selling presumably these 2 have been offloading. Around 1 million traded in August so could still be seller around.
VMX Price at posting:
15.5¢ Sentiment: Hold Disclosure: Held
