Correct Hubot, it is a bargain IMO. It is producing and exploring. While there may be reductons forecast in dividend all that needs to happen is for a significant conflict to spark up in the middle east or any area geopolitically connected with oll and gas, and history suggests that three things will happen:
1. The price of oil and gas (wholesale) will rise virtually immediately.
2. The share price of producers will raise virtually immediately.
3. So long as the wholesale price of oil and gas remains elevated, the income and correspondingly profit of producers will increase.
An issue with many company forecasts, and to an extent broker forcasts, is they cannot take account of or only take limited account of geo-political risks, but in oil, gas and gold those risks are pivitol to profitability. Stability can break and conflict can make companies.
In my view, this year is risk on, with the risk more likely tilted towards price escalating geo-political flareups than stability. As Jamie Dimon observed a week ago, it would not be off the cards for oil to go to USD$150 a barrel if there is hagh conflict this year.
3 months ago WDS was over $32. Now it is $27.12. That 15% drop is not because of any fundamental adverse change in WDS, but market inflcuences.
I have bought a few more today.
GLTA.
Correct Hubot, it is a bargain IMO. It is producing and...
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Last
$24.25 |
Change
0.760(3.24%) |
Mkt cap ! $46.04B | |||
| Open | High | Low | Value | Volume |
| $23.69 | $24.25 | $23.61 | $128.2M | 5.333M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 1 | 2000 | $24.20 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $24.25 | 21197 | 4 |
View Market Depth
| Last trade - 16.10pm 07/11/2024 (20 minute delay) ? |
| WDS (ASX) Chart |