If CVN has 673M shares on issue at 35 cents, that's a market cap of $235M. And they seem to be (roughly) adding about $10M net a quarter to their cash balance, give or take, with perhaps potential for this to go higher although falling oil prices will affect this as well. They have $31M in cash, which is about 5cps cash.
PPP has 588M shares on issue at 22.5 cents for market cap of $132M. And they seem to be roughly adding about $20-25M net a quarter in cash, although this will decline as Tui production goes down. They have about $70M in net cash which is a little over half their mkt cap. They will shortly start to generate a reasonable amount of interest per quarter as well.
I like what CVN are doing, and I think they are a progressive company, but in this very harsh market peer comparisons are going to be very important. CVN does have good mgmt going for it whereas PPP has no-one at the wheel at all.
However, CVN at 75 and 80 cents, that was ridiculous folks. I know someone with a whole lot who should have sold out at that level. The value was not there.
I think CVN is starting to become reasonable value in the low 30s, but on a fundamental basis was significantly overvalued for quite a while there. I think the massive decrease in recent days is almost wholly margin related where people are being forced out.
Interesting times. Hard market. The deleverage effect of the last 6 months is sucking wind out of the markets, for sure. And this leverage will not return as most of the major banks have severely scaled back their margin lending.
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Last
17.3¢ |
Change
-0.013(6.76%) |
Mkt cap ! $304.1M |
Open | High | Low | Value | Volume |
17.5¢ | 17.8¢ | 17.0¢ | $2.569M | 14.77M |
Buyers (Bids)
No. | Vol. | Price($) |
---|---|---|
4 | 135795 | 17.0¢ |
Sellers (Offers)
Price($) | Vol. | No. |
---|---|---|
17.5¢ | 1089305 | 15 |
View Market Depth
No. | Vol. | Price($) |
---|---|---|
3 | 124295 | 0.170 |
16 | 1157000 | 0.165 |
16 | 978950 | 0.160 |
10 | 571629 | 0.155 |
10 | 660868 | 0.150 |
Price($) | Vol. | No. |
---|---|---|
0.175 | 980022 | 13 |
0.180 | 5200899 | 21 |
0.185 | 4420685 | 30 |
0.190 | 2211058 | 15 |
0.195 | 1085149 | 12 |
Last trade - 13.56pm 19/07/2024 (20 minute delay) ? |
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CVN (ASX) Chart |