Imminent Rate Cuts

Bank of England had better cut rates and all stock picks are a mix of 80% BUY, 10% HOLD and 10% SELL.

1. BUY Goldstone Resources

Top stock pick this week BUY Goldstone Resources by Hot Stock Rockets with a tip performance of 22%.

Goldstone Resources is a gold producer and explorer in the Ashanti Gold Belt in Ghana. It has re-opened the former open pit mine, the Homase Mine and exploration targets which includes the former underground mine, the Akrokeri Ashanti Mine that was abandoned in 1909, due to an inrush of water.

Goldstone Resources share price listed on AIM in 2004 at 285p, reached an all time high of 290p 5 months later and is today at 2p.

In the news this week for an issus of options which you can read here in this RNS which allocates 56 million share options to its directors and a senior manager to align their interests with shareholders and drive better performance. These options are divided into three segments, each with distinct vesting conditions tied to immediate access, production milestones, and cost-saving targets at the Homase Mine. This strategic decision is the first of its kind in over ten years and represents about 8.53% of the company’s total issued share capital.

In the article Hot Stock Rockets is positive about the company’s prospects regarding the Homase mine and the company’s current and what he sees as potential value.

In Stockomendation Hot Stock Rockets and SP Angel say BUY. There are no active short positions.

2. BUY Just Group

Second stock pick this week is BUY Just Group by Jefferies with a tip performance of 9%.

Just Group is a specialist UK financial services group that focuses on segments of the UK retirement income market.

Just Group share price launched at 193p in 2013, reached an all-time of of 269p 4 months later and is today at 120p.

On 30 July Deutsche Bank raised its target price from 105p to 110p.

In Stockomendation Jefferies says BUY, JP Morgan says WATCH, Gordon Best says WATCH and Jefferies says HOLD. There are no active short positions open.

3. BUY IG Group

Third interesting stock pick this week is BUY IG Group by Shore Capital with a tip performance of 8%

IG Group Holdings plc, trading as IG Group, is a United Kingdom-based online trading provider, offering access to spread betting and CFD trading, which allow traders to bet on the direction of equities, bonds and currencies without owning the underlying assets.

Founded in 1974, IG Group share price launched on LSE in 2005 at 116p, reached an all-time high of 955p in 2016 and is today at 944p.

The stock started to soar on 25 July at 12 month trading announcement which you can view here in this RNS. The trading update reported 9% uplift in revenues and 32% profit increase in 2H24.

In Stockomendation four out of five analysts say BUY they are Shore Capital, Deutsche Bank, Harvey Jones and Harshel Patel and Barclays says OVERWEIGHT. There is one active short position open by Squarepoint, view that here.

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Disclaimer: The contents of this article should not be considered financial advice. Pricing data correct as at 1st August 2024.