Troll on. This ain't the real nschwartz_99. That would be me. But thank you Yahoo for this wonderful system.
How about that! Div .23 is exactly the estimate from my previous post based on their CAD. Also, the combined div of NCT and SNR appears to be about 58% of what I was receiving from the pre-spin shares of NCT. Appears to be large cut. Can't say I understand this. Couple with higher taxes, this spin of SNR doesn't seem to be computing for shareholders. Have not done the calculation because I can't easily find the pre-spin presplit adjusted trading prices for NCT, but I think the combined price of NCT+SNR may also be lower than the pre-spun SNR.
From complete SEC 10Q, found this:
9 months ended Sept 30:
Net cash provided by operating activities $ 44,992,000
(From Cash Flows from Operating Activities; does not include CF from Investing or Financing Activities)
Basic and diluted shares outstanding (a) 66,399,857
Cash flow per share = .68 per share / 3Q's = .226 per Q, which I assume would be cash available for distribution (or possible divy). Maybe they've added to this in Q4 with new investments? Anyway, at their present rate thru 3Q's , this would equate to a present yield at 16.39 of 5.5% (roughly .90/share annually). Maybe why the stock has been sinking.
I don't see anything in YAHOO news about this and I just checked NCT website and didn't see anything there either.
Your source for this?
Venting. The DJI is up 421 points and SNR down 1.14% today. But my apologies, NCT was up TWO CENTS.
This will certainly help pay all the taxes obligations we have accrued.
Thanks, mreitcmbs. In the SEC release posted there was no balance sheet, only income statements, so didn't see the cash. Certainly hope you're right and they can increase the payout with additional investments. And would they really payout 100% of their FFO or not?
Agree it's hard to understand why they should pay out less post split in divs between NCT and SNR than pre-split, but it may happen. That would be disappointing considering all of the taxes we got in the split. Those of us who bought NCT several years ago and have zero cost basis (like me) are even going to pay a (long term cap gain) tax on ROC with NCT shares for 2014 plus the SNR dividend distribution. I calculated a $42,729 ROC = long term taxable gain for my NCT shares plus a $40,407 SNR div distribution (ordinary income!) based on the estimtated formula they gave out. All that would have been ZERO had they not made the split. That's a lot of divies to make up. The hope is both NCT and SNR will command higher PPS's than as one company. I suppose the main way one even benefits from some marginally better PPS with both companies is to have the ability sell the higher priced shares, but then be faced with even more tax, particularly older owners with zero cost basis. I guess the hope is that long term both companies will command much higher prices. Don't know, but here's hoping!
Looked at the SEC Form 10Q release posted under SNR news items. Trying to ballpark Q div from this, Q ending Sep 30 shows roughly $11M net income loss, with depreciation of roughly $28M, or let's say approximately $17M of cash flow from which a dividend could be paid. If 100% of this were paid, dividing $17M by 66M shares is roughly $.25-.26 per share. I don't see other non-cash items in the brief statement. I guess this roughly equates to their CAD or FFO. Assuming this is more or less a typical Q as I don't see any large extraordinary items. Don't know if they would pay 100% of the $17M, but that equates at a $17 PPS to a 5.9% yield if they paid at an annual rate of $1.00 per share. Seems like the stock would be pretty fully valued where it is now and could face even more downside pressure at this yield. Guess SNR is not considered an equity REIT, but a real property owning REIT and these REIT types seem to generally trade at lower div yields with better premiums and senior housing seems also to be a favorable investment growth area, so that's working in our favor. Seems however that upside in the stock is going to be tough right now and we need to see some guidance, the Q4 earnings and CC to know what kind of div return we will see.
Any other thoughts?
I really don't think selling a "few million" shares explains this. XOMA trades 4M shares plus per day, so the BB trade would seem relatively small. IF it did affect the price of the stock driving it down (after it had risen so far above $5), why would you want to sell a large chunk it the open market and drive the price back down? To increase your own loss?!! My guess is that Baker Bros. are long term investors and wouldn't have bought a secondary at $5.25 this year unless they intended to stay in this long term. And if they soldl XOMA shares, they got cash, so you can't transfer "the stock" into another "Life Sciences" fund, can you? You've got cash so you would have to buy back the XOMA shares you sold and drive the price back up. Makes no sense to me.
This is even WIERDER! Just checked the short interest, and 13.92% (10,500,300 shares) are shorted. That would appear to be about ONE-HALF of the number of shares not held by insiders, funds, and institutions, again who are presumably long term investors on the LONG side who wouldn't be shorting the stock. This makes NO sense. Something is rot'in in the State of Denmark.
Just found on MSN Money the info below:
(I had to re-work this after copy and paste so I hope it does screw up when I post it.)
Mutual Fund Ownership Institutional Ownership
Institutional Ownership 28.39%
Top 10 Institutions 26.52%
Mutual Fund Ownership 13.74%
5% / Insider Ownership
Mutual Fund Name:
Global X Uranium ETF(9.12%)
Dynamic Focus+ Resource Fund(2.02%)
GEIGER COUNTER LTD(1.31%)
SMP Uranium Fund(0.29%)
Why with insiders and institutions and funds owning over 70% of the shares of XOMA should there be such high volume every day and crazy gyrations up and then down in the stock. This seems counter intuitive. One would expect less turn over, lower volume, with such a large number of shares held by presumably long term investors. Maybe the smaller number of shares not in long term hands increases the volatility as there are fewer market participants, but then one would also expect the every day volume to be much lower.With over 4 million shares per day or even 5 million plus like yesterday, this is weird as it would appear to be a large percentage of the float shares not in longer term investors hands(funds and insiders), but in traders. This is really weird.
Then why are not insiders accumulating larger positions at these low prices with some open market purchases, which will also give credence to the market that the PPS is really undervalued?
Also, wonder why under Yahoo's "OWNERSHIP - Major Holders" there are NO "Top Institutional Holders or Top Mutual Fund Holders" listed. Surely there must be a number.
Listened to the CC. Clearly they are frustrated about how the market is valuing the company. Think they did what they could in the presentation to make a good case and laid to rest any need to raise equity in the coming year.
It IS frustrating that URG seems to command the lowest valuation of the uranium players. Today, when the market hits all the uranium producers, URG gets the largest hit, even after a nice CC. I think the most convincing move to have the market re-think URG is for some of the insiders to make fairly substantial share purchases. At the price of the stock, it's not a mega amount of money and it would send the best signal possible. Jeff Klenda has 1.8M, but Wayne Heili only 233K.
(Disclosure: long 164,600 at average cost of .97.)
What is the reasoning behind a shift to nuclear? One would think that lower oil prices would want to make them use their own oil resource to generate power if the world is awash in oil and it is difficult to export. I don't understand the reason why they would consider nuclear.
I think we have to hope that the necessity to lower C02 is the main driver in the world to help nuclear.
at my post, nschwartz, under previous posts, "Thaks to Dar..." about some important info concerning cancer treatment. I didn't see my name pop up under "Latest Post" after I posted the message which is there.
I would recommend also looking at alternative medicine for approaches to cancer. For starters, look at Budwig Treatment Center and also Bill Henderson, How to Live Cancer Free, who lost his wife to conventional cancer treatments, and devotes his life to alternative approaches. Joanna Budwig was a German scientist, nominated even for a Nobel Prize, lived to age 95 and did not die of cancer. There is a complete Budwig Treatment Center in Europe. She developed a researched system using a blended mixture of flaxseed oil and cottage cheese that enabled the Omega-3's in flaxseed oil and flaxseed to be absorbed into cells much better than normal Omega 3 pills and oils taken orally. This Budwig Rx along with dietary changes becomes a powerful anti-cancer treatment. I do every day a preventive cancer treatment (just the best way to absorb Omega 3's) using for breakfast this cottage cheese/flaxseed oil blended technique with some fresh berries. Believe me there is a lot out there outside of standard cancer treatments that can be very helpful. Wishing you the best.
OK. Because you would not give the source of the Soros info, I just called UEC and was referred to their investment man who I telephoned and he briefly researched a Bloomberg site and informed me that, in fact, Soros did sell his 112,000 shares in a Sept. 30 filing. You were correct, but because you don't take a few extra secs to give the source of info, how is anyone to believe you. I was surprised that Soros had such a small stake in UEC, particularly after the way MoneyMap Press suggested otherwise.
You don't have to post the exact link, right? You could make a statement where you found this news, the source, spell it out in detail, and exactly identify where this came from! It only takes a moment to write this. So do it or don't be believed.