New Thread as requested by Wirral Owl.

6 Months Chart:-



10 Day Chart:-



Cheers

Ash

Avocet Mining upgraded to BUY from hold at Investec, target price raised to 91p from 71p.

MoneyAM
27/4/09

Broker has upgraded its valuation to include Avocets planned acquisition of Oslo-listed Wega and higher gold price assumptions of $900/oz for 2009.

Taken a small punt on this, thought for a long time that this is undervalued.

Very red on trades at the mo, not encouraging one to buy.

Just keeps banging on that 80p barrier every time...if only this could break that then the sp could fly !, probably needs gold to climb up to $930 an ounce.

or perhaps produce more gold ... will wega do the trick ... I am giving it a run.

Hoping i get a short term term move within the sideways trend here and also a breakout from 90p.

Fingers crossed.

A new broker note out,

out late yesterday and is a reiteration.....

Avocet Mining PLC

FORECASTS
2010 2011

Date Rec Pre-tax () EPS (p) DPS (p) Pre-tax () EPS (p) DPS (p)

Arbuthnot Securities [R]
16-09-09 BUY 11.27 4.44 17.47 7.69

company look good for traders that like gold shares. have a read let me no wt you think

http://www.minesite.com/fileadmin/content/pdfs/Brokers_Notes_August_09/Brokers_Notes_Sept_09/Brokers_Notes_Oct_09/AVM%2028-10-2009.pdf

micky .... not sure what i think in all honesty ..... my initial thought, sight unseen, was that this was some silly little tinpot E&P company .... however, i see that it is actually a modest though profitable producer with some money in the bank .... on the other hand, the share doesn't move a lot, notwithstanding the current level of gold ..... further, institutional holdings are quite modest, but trading volumes are quite good and the spread modest .... for sure you could do worse, but equally surely, there must be better bets - e.g. CEY

Thank you cynic as always your point's of views are all ways welcome and well put , and yes your right about CEY it's a great company, And I've been keeping an eye on it , from 70p ..........wish i had paid attention to you then when you told to buy........lol ;-) have a good week-end .........CEY = 122p where do you see this short to mid term ? also not holding to well with gold dropping !!

Rated by Shares as one of the 2 best gold plays (POG is the other)
Any comments?

Could be about to rise 20p or so....the graph is shaping that way....

i'ld rather have POG (and CEY)

Well yes...it is just not possible to cover them all...CEY is already valued at a hefty market value.....compare it to this and AVM looks undervalued.

So much for my rise...down 10p since then.

Well the Brokers like this stock and Im not suprised on such a cheap rating. P/E of just over 13 into 2011 results, way too cheap IMO .

Avocet Mining PLC

FORECASTS 2011 2012
Date Rec Pre-tax () EPS (p) DPS (p) Pre-tax () EPS (p) DPS (p)

Numis Securities Ltd
06-09-11 BUY 63.35 29.19 1.86 19.87 5.59 6.21
Evolution Securities Ltd
30-08-11 ADD 29.50 9.69 21.88 8.29
Canaccord Genuity Ltd
22-08-11 BUY
Westhouse Securities
01-08-11 HOLD 34.00 6.30 8.50 6.30
Fairfax IS
27-07-11 BUY
Broker Name Withheld 3
27-07-11 BUY 37.83 11.90 32.34 11.10

2011 2012
Pre-tax () EPS (p) DPS (p) Pre-tax () EPS (p) DPS (p)

Consensus 44.24 21.20 3.84 24.10 8.19 6.25
1 Month Change 3.60 1.06 -0.17 4.34 1.20 0.02
3 Month Change 5.43 8.02 3.84 8.70 1.66 6.25


GROWTH
2010 (A) 2011 (E) 2012 (E)

Norm. EPS % 6,311.98% -61.36%
DPS % % 62.97%

INVESTMENT RATIOS
2010 (A) 2011 (E) 2012 (E)

EBITDA 42.07m 63.64m 57.50m
EBIT 11.40m 34.72m 26.01m
Dividend Yield % 1.37% 2.23%
Dividend Cover x 5.53x 1.31x
PER 847.02x 13.21x 34.19x
PEG f 0.00f -0.56f
Net Asset Value PS 96.61p p p

what is going on today - a drop of 10% so far.

..Questor share tip: Avocet beats guidance

By Garry White | Telegraph – Fri, Jan 27, 2012 07:16 GMT

When it comes to production guidance, the best thing mining companies can do is under-promise and over-deliver. This is what Avocet Mining (Xetra: 900745 - news) has done.

Avocet Mining 226p +14¼ Questor says BUY

The gold mining company, which owns 90pc of the Inata gold mine in Burkina Faso, issued a production update on the final quarter of last year that smashed expectations. Avocet produced 46,102 ounces of gold in the three months ending December 39pc more than the previous quarter. Guidance was for 40,000 ounces.

This brought total production for the year to 166,744 ounces, compared with guidance of 160,000 to 165,000 ounces. For 2012, the guidance is a conservative 160,000 ounces.

The company has had a busy couple of years selling off its South East Asian gold mines for £200m to focus on West Africa. As well as Inata, the group has a pipeline of exploration projects in Burkina Faso, Guinea and Mali.

Avocet is ramping up Inata production and this is going to consume most of the cash that it throws off over the next couple of years. However, gold prices are likely to stay at elevated levels for some time.

Indeed, the prospect of more quantitative easing in the US, as hinted at by Ben Bernanke, Federal Reserve chairman, on Wednesday, sent the gold price once again above $1,700 an ounce. Guidance for the cash cost of producing each ounce at Inata is $800 to $850 an ounce this year.

Most gold miners have underperformed over the past year or so but the view is building that they could have a better 2012. This includes Avocet. Indeed, last week Nomura named Avocet as one of its top three picks in the sector.

The group should continue to throw off cash and, although one should never buy a share on bid hopes alone, some analysts regard it as a prime acquisition target.

Avocet does not currently pay a dividend and it is likely to use its cash flow to invest in new projects, so Questor does not expect any payments soon.

The shares are trading on a December 2012 multiple of 14.1, falling to 8.1 in 2013.

Last tipped at 190p on June 28 last year the shares are up 19pc compared with a FTSE 100 (Euronext: VFTSE.NX - news) up less than 1pc since that date.

The shares are a buy.

..

Obviously Garry White doesn't know anything about Avocet... serious profit warning coming through...SELL.

Shares in Avocet Mining continue to tumble...

Shares in Avocet Mining continued to fall in early trading in London and were down more than 4%.

On Friday its shares plunged by more than 35% after it issued a profits warning ahead of its results for the half year due on 1 August.

The company now expects its gold production for this year to be reduced from 160,000 ounces to between 135,000 and 140,000 ounces following lower-than-expected output for the year to date and a reassessment of mining for the remainder of the year.

Two brokers issued downgrades on the company. Numis downgraded Avocet Mining from buy to hold and cut its target price from 230p to 130p. Westhouse Securities reduced the company from a strong buy to neutral with the target price down from 262p to 102p.