I’m holding Syrah. I had read and believed the different broker opinions were really good and yet since I bought, they have come back around 30% especially in the last few days.
What are your thoughts on at least partly recovering once the shine comes of oil and iron ore?
A: I don’t think that the market was reacting to the run in iron ore and oil – but rather, to a relatively disappointing production and forward guidance report by the company (Syrah Resources – SYR) issued on 30 January.
According to FN Arena, the brokers still like the stock long term – a target price of $2.72 compared with a current price of $1.44.
I don’t have a strong view about the company/industry – I would put in the “speculative” category.
