Stock Watch - Stock Picks - Glencore and Ethos Gold Corp
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Greg Katzenellenbogen from Sanlam Private Wealth chose Glencore PLC as his stock pick of the day and Graeme Körner from Körner Perspective chose Ethos Gold Corp
Katzenellenbogen said: "I'm going again for Glencore, they are in the resources and I do believe that from a supply/demand point of view that copper will be under pressure. The copper price is moving quite nicely and I think Glencore is the best place to take advantage of a strong rising copper. I believe at these levels there is still some significant upside to the stock.
Körner said: "I'm going for Ethos once again, they came out with results to December a little while ago, steadily deploying the capital and is now up to around 80% deployed and committed. The portfolio is building nicely with a couple of portfolio assets not doing well but on balance far more are doing well. They are very seasoned and you are buying a very well diversified private equity book at a 30% discount NAV (Net Asset Value) and there is still cash sitting in there. What I also like is a few days ago we started seeing some of the Directors buying quite aggressively as well, I get the feeling that the shareholder base is stabilised and I think there is a window of opportunity to pick some up before it resets"
Katzenellenbogen said: "I'm going again for Glencore, they are in the resources and I do believe that from a supply/demand point of view that copper will be under pressure. The copper price is moving quite nicely and I think Glencore is the best place to take advantage of a strong rising copper. I believe at these levels there is still some significant upside to the stock.
Körner said: "I'm going for Ethos once again, they came out with results to December a little while ago, steadily deploying the capital and is now up to around 80% deployed and committed. The portfolio is building nicely with a couple of portfolio assets not doing well but on balance far more are doing well. They are very seasoned and you are buying a very well diversified private equity book at a 30% discount NAV (Net Asset Value) and there is still cash sitting in there. What I also like is a few days ago we started seeing some of the Directors buying quite aggressively as well, I get the feeling that the shareholder base is stabilised and I think there is a window of opportunity to pick some up before it resets"
