Are these purchases perhaps in terms of their recent acquisition? They said they'd buy the shares off the open market to pay for the acquisition, which leads me to believe they think their company is undervalued and their new sub must concur?
period of super outperformance sparked by a rerating of SCN and strong earnings growth is most probably over as indicated by subsiding relative strength since early June - rolling forward PE of 16.4x and a much larger base probably make for ave performance over the next year. omo
another share worth looking at.mtx .i heard that it could double within the next 18 months.just what i heard .nothing substantial.but i could believe it as the copper price is rising . mrf are expecting great results and shou;ld start moving shortly
SCN's issued shares have increased by 40% from the ave. used for its March 2007 ye HEPS calcs - so if earnings rise by 70% this year (a big number) as per my estimates, the one-year rolling forward PE comes to 16.4x. My point is merely that a lot of good news is already priced in at 2450cps. As you can see I also follow SCN closely but think that the counter is expensive, and have thus switched my exposure to Petmin (a coal and anthracite miner) in June - a very lucrative move thus far in both absolute and relative terms!!
The sayings "the trend is your friend" and "follow the money" are definitely true with ADW. Rising volumes and rising price. Look at the fundamentals, HEPS doubling over the last few years, and strong growth going forward. Directors buying Rm of the shares is always a good sign.