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Canadian Overseas Petroleum Limited

UK capital markets rules overhaul and all stock picks are a mix of 71% BUY, 17% HOLD and 12% SELL.


1. SELL Canadian Overseas Petroleum

Top interesting stock pick this week is SELL Canadian Overseas Petroleum Limited (COPL) by Tom Winnifrith in ShareProphets with a tip performance of 57%.

COPL is an international oil and gas exploration, development and production company actively pursuing opportunities in the United States with operations in Wyoming.

Canadian Overseas Petroleum Limited share price listed at 1,800p in 2014, its highest ever price, and is now at just 0.3p, its lowest ever price.

Tom Winnifrith seems to have a personal problem with this company and does not hold back in his commentary nor outlook that COPL will be bankrupt in 2024.

Latest news in the headlines is a notice of default on debt and a potential JV terminated with shares plunging even lower in the past week: the 12 month change is minus 92%.

Tom Winnifrith is the only analyst with a rating in Stockomendation, he says SELL and there are no active short positions.


2. AVOID Cyanconnode

Second interesting stock pick this week is AVOID Cyanconnode Holdings by Steve Moore in ShareProphets with a tip performance of 14%.

Cyanconnode is a Cambridge based ‘narrowband radio frequency mesh’ manufacturer and designer, or IoT sensors & networks in lay language.

Cyanconnode Holdings share price listed at 4,816p in 2005, reached an all-time high of 5,461p in 2006 and is today at 8p, its lowest ever price.

This week in an announcement it said it expects full year revenue forecasts to be met citing ‘a period of rapid growth’ due to the ‘Indian smart metering market’ however Moore notes continuing losses: “it remains cash collection and net cash flows very much still to prove and, at a £29 million market cap, continue to avoid.”

Steve Moore is the only analyst with a rating in Stockomendation, he says AVOID and there are no active short positions open.


3. HOLD Springfield Properties

Third interesting stock pick this week is HOLD Springfield Properties by Russ Mould in The Telegraph - Questor with a tip performance of 7%. The Gibraltar based sports betting and gambling company owns bwin, Coral, Ladbrokes, PartyPoker and Sportingbet.

The Scottish housebuilder was founded in 1956 and owns subsidiaries Walker Holdings and Tulloch Homes.

Springfield Properties share price listed at 116p in 2017, reached an all-time high of 170p in 2021, an all-time low of 53p in 2023 and is today back slightly up at 88p.

Mould says the shares look cheap due to a bad year in 2023 and 2024 looking not much better: “Crest Nicholson, Bellway and MJ Gleeson – look cheap relative to mid-cycle, let alone peak, earnings and their net assets. Springfield does too.”

In Stockomendation Russ Mould and Peel Hunt say HOLD, Royston Wild says BUY. There are no active short positions open.


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Disclaimer: The contents of this article should not be considered financial advice. Pricing data correct as at 21th December 2023.