Posts Tagged ‘MEG’
More: MPI & ORE
Yes, I am so loving the new look of COL’s online trading platform. Unfortunately, there have been a lot of complaints with regard to the quality of performance of this new platform this morning. Friends who were eager to watch the market were very frustrated with the glitches… the irksome delays. I just hope that they would fix it soon… like tomorrow. It did work though when I accessed it earlier but it was unusually slow.
Anyway, below (image) are a few of my favorite stocks these days. I’m happy that MPI is getting a bit cheaper, a very good opportunity for those of us who want to take advantage of the PPP initiated by the government. First support is at 4.247/sh, then at 4.223/sh. I’m a VERY willing buyer below 4.20/sh, and planning to go long on this stock. It’s currently trading at 18.7X P/E.
We reiterate our BUY rating on MPI with FV estimate of Php4.67/sh based on SOTP valuation. We expect MPI to be a major beneficiary of the government’s PPP initiatives given its focus on infrastructure and its strong financial capabilities. – COL
On the other hand, I have been accumulating ORE shares since the year began. I still believe that it’s a buy within the range. Although, ORE’s chart seems to suggest that it’s slowly losing steam, at least in the short term. For one, the short-term GMMA is getting narrower and narrower. Moreover, the MACD currently lies below the 9-d signal. First support is at 7.871/sh. It could get cheaper. Try to bottom-fish. 
Today's closing
In other news, I checked the transactions made by Broker 209 today. It did accumulate around 40M MEG shares with an average buy of 2.0957/sh.:)
It might also be interesting to note that Macquarie Securities accumulated around 177M OV shares at an average buy value of 0.053/sh today. Most of you who have been following the blog know that I have been very long on OV; and, I never really fail to nibble some more shares every time it dips below 0.053/sh. I really believe in this exploration company. For one, it’s currently trading at only 8.88X P/E; note that on the average, industry peers trade at an average of 22X. A caveat: the Galoc Oil Field’s approximated production life is only capped at six years. This means that profits would end once it halts production. 
On a lighter note, according to COL’s most recent Company Report on OV, “successful exploration of onshore Mindoro and offshore Palawan are necessary to ensure sustainability of OV’s profitability in the longer term.” 
** Keeping my fingers crossed for MAB and LCB, the EO will be out very, very soon.
What do you think?
