A director at Svenska Cellulosa AB SCA bought 1,514,710 shares at 166.569SEK and the significance rating of the trade was 100/100. Is that information sufficient for you to make an investment decision? This report gives details of those trades and adds context and analysis to them such that you can judge whether these trading decisions are ones worth following. Included in the report is a detailed share price chart which plots discretionary trades by all the company's directors over the last t...
Rana Gruber reported a mixed set of Q1 results, with accounting and hedging effects as well as volatile iron ore prices, which blurred much of the underlying operational result. We have lowered our 2024–2026e EPS by 1–3% on the results and our updated forecasts for the latest iron ore futures curve and FX changes. We continue to find a 2024e P/E of 7x on current spot rates attractive, while we await the benefits of the company’s upgrade to Fe 65% and potential further upgrades longer-term. We re...
GOGL – Invitation to presentation of Q1 2024 Results Golden Ocean Group Limited (the “Company) will publish its financial results for the first quarter of 2024 on Wednesday May 22, 2024. In connection with the release, a conference call and webcast will be held as described below: Conference call and webcastA conference call will be held at 3:00 P.M. CET (9:00 A.M. New York Time) on Wednesday February 28, 2024. The presentation will be available for download from the Investor Relations section at (under "Presentations") prior to the conference call/webcast. In order to listen to the pre...
We find the recent freight market strength and even stronger share price performance exaggerated given our dry bulk sector outlook. Chinese import demand is in question from the record-high run-rate due to flailing fundamental demand. Elevated asset values versus our rate expectations leave a fragile situation for valuations and we believe the risks outweigh the upside potential medium-term. Hence, we have downgraded to SELL (HOLD) and have cut our target price to NOK140 (142).
UPM-Kymmene Corporation: Managers’ Transactions (Kekki) UPM-Kymmene Corporation Managers’ Transactions 3 May 2024 at 12:30 EEST UPM-Kymmene Corporation: Managers’ Transactions (Kekki) UPM-Kymmene Corporation has on 3 May 2024 received the following notification: ____________________________________________Person subject to the notification requirementName: Mika KekkiPosition: Other senior managerIssuer: UPM-Kymmene CorporationLEI: 213800EC6PW5VU4J9U64Notification type: INITIAL NOTIFICATION____________________________________________Transaction dat...
UPM-Kymmene Oyj: Johtohenkilöiden liiketoimet (Kekki) UPM-Kymmene Oyj Johtohenkilöiden liiketoimet 3.5.2024 klo 12.30 UPM-Kymmene Oyj: Johtohenkilöiden liiketoimet (Kekki) UPM-Kymmene Oyj on 3.5.2024 vastaanottanut seuraavan ilmoituksen: ____________________________________________IlmoitusvelvollinenNimi: Mika KekkiAsema: Muu ylin johtoLiikkeeseenlaskija: UPM-Kymmene OyjLEI: 213800EC6PW5VU4J9U64Ilmoituksen luonne: ENSIMMÄINEN ILMOITUS____________________________________________Liiketoimen päivämäärä: 2024-05-03Kauppapaikka ei sovelluInstrumenttityy...
With the Q1 results below our estimates and consensus, we have reduced our 2024 adj. EBIT by c5%, but raised 2025–2026e by c1% on average. Overall, Q1 had a minor impact on our view of the investment case, and we reiterate our BUY and DKK242 target price. Vestas remains our top-sector pick on the structurally growing wind-energy space.
>Underperform rating (target price DKK 160) - Based on this release and the conference call, we maintain our expectations for 2024-2026 and our Underperform rating (despite a performance of -16% YTD), with an unchanged target price of DKK 160. While it is true that the situation is normalising, we see several risks, particularly with regard to the medium-term EBIT target (expected at 10%), given: The problems encountered by all players in the industry with new (o...
>Opinion Sous-performance (OC 160 DKK) - Post publication et conférence call, nous maintenons nos attentes sur 2024/26 et réitérons notre recommandation sous-performance (malgré une performance YtD de -16%) avec un OC inchangé à 160 DKK. Même si la situation est en voie de normalisation, nous identifions plusieurs risques notamment sur l’objectif d’EBIT à MT (attendue à 10%) à savoir : Les problèmes rencontrés par l’ensemble des acteurs de l’industrie sur les nou...
GOGL – 2024 AGM Results Notification Golden Ocean Group Limited (the “Company”) advises that the 2024 Annual General Meeting of the Shareholders of the Company was held on April 29, 2024, at 16:30 hrs, at Hamilton Princess and Beach Club, 76 Pitts Bay Road, Hamilton HMCX, Bermuda. The audited consolidated financial statements for the Company for the year ended December 31, 2023 were presented to the Meeting. In addition, the following resolutions were passed: To set the maximum number of Directors to be not more than eight.To resolve that vacancies in the number of Directors be d...
Our trip to South Korea and China revealed Chinese shipbuilders are seeking growth to take on Korea’s established yards who are facing constraints. An eagerness to add capacity is one of our takeaways, as well as a gloomy outlook for Chinese real estate, which in our view should inevitably weigh on dry bulk demand.
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