22 April, 2008 (16:00:00 AEST)
BOUGAINVILLE COPPER RISES 7.1% ON HIGH VOLATILITY April 22, 2008 16:00:00 AEST
Bougainville Copper (BOC), Australia's 3rd largest Copper company by market capitalisation, traded between an intraday low of 98.0c and a high of $1.05. This suggests a trading opportunity between peaks and troughs. The stock rose for a second day on Tuesday. The share price jumped 7.0c (or 7.1%) to $1.05. Compared with the All Ordinaries Index which fell 35.8 points (or 0.6%) on the day, this represented a relative price change of 7.8%.
PRICE VOLUME DYNAMICS
Moving Average Price (MAP): The price to 200-day MAP ratio is 1.01, a bullish indicator. In the past 200 days this ratio has exceeded 1.01 one hundred thirty-four times suggesting further upside. The stock is trading above both its MAPs at $1.04 for the 200-day MAP and 88.36c for the 50-day MAP, a bullish indicator. The 200-day MAP has increased to $1.04. An increase is another bullish indicator.
Relativities: Since open its percentile rank in the Australian market was 91. In the Australian market of 2,091 stocks, the stock has a 6-month relative strength of 69 which means it has outperformed 69% of the market. Also, the relative strength percentile is improving at 69 for 6 months, 85 for 3 months and 94 for 1 month.
Volume and Turnover Period: There were 92,400 shares worth $93,111 traded. The volume was 1.9 times average trading of 49,279 shares. The turnover rate in the 12 months to date was 3.1%. This average length of ownership of the stock at 30.4 times the average holding period of 1 year 23 days for stocks in the S&P/ASX 200 Index suggests a larger number of core investors, making a long-term investment safer.
% Disc to High and % Prem to Low: The last price is at a discount of 45.9% to the 12-month high of $1.94 and a premium of 48.9% to the 12-month low of 70.50c.
Volume Weighted Price (VWP): The price is at a premium of 5.3% to the 1-month volume weighted average price of 99.70c. Given that this premium has exceeded 5.3% sixty-five times and been under 5.3% fifty-three times in the last year, the upside:downside probability is estimated at 65:53 or 1.2:1.
Beta is 1.3.
COPPER, GOLD, SILVER AND PRICE PERFORMANCE RANK IN INDICES AND SECTORS
The stock is in 2 indices, 5 sectors and 3 commodities.
The copper price in US$ per pound was 4.32 or US$8,642 [AUD 9,168] per tonne. It plummeted $US0.11 or 2.5% on the day. Trailing one week, it weakened $US0.02 or 0.4%. Trailing one month, it soared $US0.43 or 11.0%. Trailing one year, it advanced $US0.32 or 8.0%.In the Australian market of 2091 stocks, 53 sectors, 20 indices and 14 commodities, the copper price in AUD has a 6-month relative strength of 86 and a 1-day relative strength of 19. This indicates it is beating 86% of the market (rank 221 out of 1533) in the last 6 months and is trailing 81% of the market (rank 1243 out of 1535) in the last 24 hours.
The gold price in US$ per troy ounce was 918.5 [AUD 974.4]. It crashed $US27.5 or 2.9% on the day. Trailing one week, it declined $US8.0 or 0.9%. Trailing one month, it weakened $US7.25 or 0.8%. Trailing one year, it soared $US227.1 or 32.8%.In the Australian market of 2091 stocks, 53 sectors, 20 indices and 14 commodities, the gold price in AUD has a 6-month relative strength of 91 and a 1-day relative strength of 17. This indicates it is beating 91% of the market (rank 133 out of 1533) in the last 6 months and is trailing 83% of the market (rank 1271 out of 1535) in the last 24 hours.
The silver price in US$ per troy ounce was 17.86 [AUD 18.9]. It crashed $US0.7 or 3.8% on the day. Trailing one week, it advanced $US0.41 or 2.4%. Trailing one month, it increased $US0.33 or 1.9%. Trailing one year, it soared $US3.99 or 28.8%.In the Australian market of 2091 stocks, 53 sectors, 20 indices and 14 commodities, the silver price in AUD has a 6-month relative strength of 94 and a 1-day relative strength of 14. This indicates it is beating 94% of the market (rank 99 out of 1533) in the last 6 months and is trailing 86% of the market (rank 1322 out of 1535) in the last 24 hours.
The stock's rise of 7.1% went against the trend set by the following indices and sectors (rank by percentage price change of stock for 1 day;6 months in sector/index in brackets):
Base Metals Sector (rank 6;20 out of 83) which was down 623.4 points or 7.1% to 8,196.3,
Copper Sector (rank 4;18 out of 73) which was down 610.2 points or 7.0% to 8,168.3,
Mining & Oil Sector (rank 48;162 out of 573) which was down 568.1 points or 6.4% to 8,321.2,
Total Australian Market (rank 125;448 out of 2117) which was down 325.4 points or 5.5% to 5,590.7,
S&P/ASX 200 Materials Index (rank 40;125 out of 468) which was down 180.2 points or 1.1% to 15,758.6,
Diversified Metals & Mining Sector (rank 12;38 out of 143) which was down 106.3 points or 1.1% to 9,359.7,
All Ordinaries Index (rank 10;97 out of 425) which was down 35.8 points or 0.6% to 5,628.4
RELATIVE VALUATION INDICATORS [RVI]
Bougainville Copper vs Copper Sector [Copper Sector Average in Brackets]
Worse than Sector Average: Return on Equity of 0.9% [42.7%]; rank 16 out of 74 Copper stocks; Return on Assets of 0.8% [22.7%]; rank 16 out of 74; Year-on-year growth in EPS of -11.4% [20.0%]; rank 7 out of 11; P/E of 267.8 [8.5]; rank 12 out of 14.
SHAREHOLDER RETURNS
Trailing One Week: The stock rose twice (40% of the time), was unchanged once (20% of the time), fell once (20% of the time) and was untraded once (20% of the time). The volume was 1.1 times average trading of 246,395 shares.
Trailing One Month: The stock fell nine times (43% of the time), rose nine times (43% of the time), was unchanged twice (10% of the time) and was untraded once (5% of the time). The volume was 0.7 times average trading of 1,084,138 shares. The value of $1,000 invested a month ago is $1,400 [vs $1,087 for the All Ordinaries Index], for a capital gain of $400.
Trailing One Year: The value of $1,000 invested one year ago is $1,469 [vs $940 for the All Ordinaries Index], for a capital gain of $469. The total return to shareholders for 1 year is 46.8%.
Trailing Five Years: The value of $1,000 invested five years ago is $8,400, for a capital gain of $7,400.
FINANCIALS
Annual Report for the year ended December 31, 2007 (year-on-year comparisons with previous corresponding period)-
Percentage of shares held by top 20 shareholders of 95.91.
Favourable Changes: a 5-year track record of positive earnings; total liabilities to total assets down 0.95% to 0.1; current ratio up 7.08% to 28.3; NTA per share up 0.35% to $A0.4 (37.2c).
Unfavourable Changes: net profit down 7.8% to $A1.5m ($US1.3m); EPS down 7.81% to $A0.0 (0.33c); total liabilities to operating cash flow up 13.78% to 13.6: this compares unfavourably with Joseph Piotroski benchmark of 4.
Steady: total number of shares outstanding steady at 401,062,500.
Major Common Size Ratios: total non current assets to total assets up from 86.25% to 92.66%; fixed assets to total assets at 45.11%; total current assets to total assets down from 7.94% to 7.34%; cash to total assets down from 0.31% to 0.08%.
FUNDAMENTALS
Earnings: The earnings yield of 0.4% is 0.1 times the 10-year bond yield of 6.3%.
P/E: The trailing twelve months P/E is 267.8 times, giving it a percentile rank of 6.1 by P/E. (rank 447 out of 476).
ISSUED CAPITAL
Based on 401,062,500 issued shares the market capitalisation is $421 million.
ACTIVITIES
Mining and production of concentrates containing copper, gold and silver.
TOP MANAGEMENT
The Director is Mr. John Leahy
BUSINESS NEWS ROUND UP
The last 5 snippets from News Bites were:
March 31: Bougainville Copper directors acquire Rio Tinto plan shares
Bougainville Copper Ltd director Robert Staley Burns acquired 544 Rio Tinto shares under the Rio Tinto Ltd share plan, on March 10, 2008. He holds 611 Rio Tinto shares, 6,406 Rio Tinto options and 6,027 Rio Tinto conditional share awards.Director Peter Robert Taylor acquired 1031 Rio Tinto shares.
January 17: Bougainville Copper has no production
Bougainville Copper Ltd says there has been no production for the quarter ended December 31. There has been no production since May 15, 1989.
October 26: Bougainville Copper unable to explain share price rise
Bougainville Copper said it was not aware of any explanation for an increase in share price from 91c on October 11 to $1.17 on October 25. In response to an ASX share price query, the company said it had no information, announced or unannounced, to explain the change.
August 10: BOUGAINVILLE COPPER PROFIT UP 50.5%
Bougainville Copper Ltd profit increased 50.5 percent to K1.6 million ($A645, 000) for the six months to June 30, 2007. Revenue increased by 29.4 percent to K4.9 million ($A1.98 million.) Eps was 0.40toea, compared to 0.27toea for the previous corresponding period. The company has not declared a dividend in respect of the six months ended June 30, 2007.
July 18: BOUGAINVILLE COPPER SAYS NO PRODUCTION SINCE 1989
Bougainville Copper Ltd says there has been no production at the Panguna mine, Bougainville, since May 15, 1989. BACKGROUND: From 1972 until 1989 Bougainville Copper operated a large open pit mine and processing facility at Panguna on Bougainville Island in the north Solomons province of Papua New Guinea.
Currency Conversion: Australian Dollar AUD 1 = US$ 0.9426 [or US$1=AUD 1.06]; Against the US$ the AUD climbed 94.24 basis points (or 0.9%) for the day; climbed 2.0% for the week; added 2.5% for the month; soared 23.9% in the past year.
Source: www.BuySellTips.com
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