Is Panmure Gordon (PMR) a Recovery Opportunity?
Panmure Gordon (SP=19.5p, MCAP=£30.1m) seems to be undergoing a recovery, having seemingly completed a sloping (and untidy) inverted Head & Shoulders pattern, see below...
The resistance level at about 19.5p, had previously given support (in late 2008/early 2009), as can be seen on the longer term graph (below)...
Panmure Gordon - Key Metrics
What stands out on the Sharescope "Key Metrics" (below), is the fact that a large part of the MCAP seems to comprise cash (£11.687m as at 30th June 2012, see the PMR Interim Results).
Recent News
With the improvements noted in the interim report and recent good news (see above), coupled with a rising share price and strengthening OBV, Panmure Gordon looks like it's worthy of consideration by us DIY-Investors. What do you think?
Ohhhhhh Mick,
ReplyDeleteThe bain of my share portfolio!!! I have held these shares since they took over Durlacher a few years ago. Durlacher was a good little tech company but was hit by the tech bust bubble when Panmure took over.I have long watched this stock and in truth am very much in despair over it, especially as the management don't seem to know what they are doing half the time. I appreciate the fact that you think they are a good recovery play but my reasoning is such that for every step forward they take they shoot themselves in the foot and take five steps back.
Hi Allen,
ReplyDeleteIt will be very interesting to see, if I'm right, whether you manage to recoup some of your losses. From a 'new investment' point of view, it does seem to have some merit - particularly looking at the news over the past few months, coupled with the SP Graph.
As ever, in this game, no such thing as certainty!