Balanced Portfolio - Stanmore Resources (SMR)
Buy Add 2% (Raise total allocation from 2% to 4%)
Date: 23/02/2024
*** GENERAL AVICE ONLY***
Stanmore Resources (SMR) Stanmore Resources Limited (SMR) owns and operates the Isaac Plains Complex in Queensland’s prime Bowen Basin region which includes the Isaac Plains Mine and processing facilities, the adjoining Isaac Plains East (operational), Isaac Downs Project (under development) and the Isaac Plains Underground Project. SMR also holds a number of additional prospective coal tenements located in Queensland’s Bowen and Surat basins.
SMR has pulled back recently from the $3.80 area down to $3.40. SMR has found support at these levels, so looking to add to the position on this current pullback to lower the average entry. SMR reports earnings next week, so look to buy/add today around the $3.55 level.
PE: 2.7
Mkt Cap: $3.4B
Stanmore Resources (SMR) – Total Portfolio Allocation 4%
Entry: $3.55 | Target: $4.20 | Stop: $3.10
Disclaimer: The recommendation given is general advice only. It does not take into account your personal objectives, financial situation, or specific needs. This information should not be your sole resource when making such decisions. We strongly recommend you to seek the advice of financial, taxation, and legal professionals before finalising any investment decisions.