It is a busy week for AGMs with several big companies hosting investor meetings. It is also a great time for some analysis using cutting-edge artificial intelligence on how bigger investors in these stocks feel about them, both those who are of the longer term buy and hold persuasion, and the shorter term, more tactical trader.
We are including links to reports compiled by artificial intelligence specialist Irithmics which are updated in real time and will remain live for 10 days after the companies’ AGMs. These represent detailed analysis of how big investors like fund managers and pension funds are feeling about the company. It is possible to track changing views over time.
There’s been a steady flow of negative news over the last month out of Antofagasta; the miner reported that copper production was down 5% in the first quarter compared with Q4 2020. Production is in line with expectations, the miner said, and reflects lower reduced grades at its Los Pelambres mine. One of the big issues is a fresh wave of Covid cases in Chile and the prospect of a national lockdown as the government there moves to counter it. Chile is also 12 years into a mega drought which is raising questions about the availability of water for mining operations. Tough questions will be put to the management we suspect.
Rentokil Initial (LSE:RTO)
It’s better news if you are invested in Rentokil Initial with revenue reported to be up 12.8% at the pest control business. The company’s hygiene division has been a direct beneficiary of the pandemic, as you would expect. It saw a 48.1% year on year increase in revenue. Pest Control revenue growth was up 10.5%. Investors will be looking for Rentokil Initial to deliver a stellar year as many of its products and services will be in demand. Management will be keen to assure investors that they can justify a higher share price – the stock has been dropping like a rock since a peak on 19 April. Despite some heavy selling last week, there has been something of a mini rally going into the AGM.
BP shares had been doing quite well in the last couple of weeks, but the stock has had trouble breaking a resistance level at 320. It is possible that much of the enthusiasm around a re-opening of the economy has been priced in. Events in India are demonstrating that the virus is still very much in the driving seat in many parts of the world, and a return to ‘normality’ for oil demand may still be some way off. BP continues to struggle with some fund managers who are having to divest themselves of fossil fuels stocks, and it is going to be tough for some portfolio managers to justify their ESG commissars that BP is now a clean energy play. BP is putting in big efforts in that direction, but it has long way to go yet.
Irithmics is providing more detailed analysis for corporate clients, their investor relations teams, advisors and asset managers. For more information, corporates and IR teams are encouraged to contact www.irithmics.com. Note that charts are dynamic and will be continuously updated until 10 days after the AGM.
- Three Quick Facts: Antofagasta, Rank Group and Adnams (19 Aug 2021)
- Three Quick Facts: Rentokil Initial, Diageo and Smith & Nephew (29 Jul 2021)
- Three Quick Facts: Whitbread, Jet2 and BP (27 Apr 2021)