• Road to riches

    Taxpayers keep funding structures with big plans but who knows what efficacy, says Mandi Smallhorne.

  • Don't fall for Ponzi scams

    An expert unpacks the tell-tale signs to watch out for.

  • Inside Labour

    A smokescreen of misleading rhetoric won't make SA's problems go away, says Terry Bell.

Loading...
See More

RMB Holdings 'worth a punt'

Aug 17 2010 11:37 Marc Ashton

Company Data

FIRSTRAND LIMITED [JSE:FSR]

Last traded 56
Change 2
% Change 3
Cumulative volume 7866648
Market cap 0

Last Updated: 30-03-2015 at 04:19. Prices are delayed by 15 minutes. Source: McGregor BFA

RMB HOLDINGS LIMITED [JSE:RMH]

Last traded 71
Change 2
% Change 3
Cumulative volume 1010456
Market cap 0

Last Updated: 30-03-2015 at 04:18. Prices are delayed by 15 minutes. Source: McGregor BFA

DISCOVERY LIMITED [JSE:DSY]

Last traded 124
Change 1
% Change 1
Cumulative volume 801425
Market cap 0

Last Updated: 30-03-2015 at 04:18. Prices are delayed by 15 minutes. Source: McGregor BFA

Related Articles

Discovery mulls expansion in US

Discovery to boost RMB profit

Sanlam, Discovery in spotlight

Discovery Invest heads for R10bn

Discovery outperforms peers

Discovery lauded for R1.5bn UK deal

 
Johannesburg - RMB Holdings [JSE:RMH], the JSE listed-investment group holding interests in FirstRand [JSE:FSR], Discovery Holdings [JSE:DSY] and direct insurer Outsurance, is a buy at its present price levels, said analysts.

In a note to clients on Tuesday, stock brokerage Barnard Jacobs Mellet Holdings [JSE:BJM] said RMB Holdings has fallen more than its peers in the banking and financial services sectors. Since trading at 3 560c per share late July, the counter has slipped to around 3 110c.

"The stock is covered by four analysts - two with number one ratings - who have given it an average target price of 3 600c, 13% above last night's close. We would advocate buying at current levels," BJM said.

Steve Meintjes, head of research at stockbrokerage Imara SP Reid, is another analyst who assigned RMB Holdings an "add" recommendation. He said the recently announced merger of insurance groups Metropolitan Holdings [JSE:MET] and Momentum (a FirstRand subsidiary) is a catalyst for potential growth.
 
RMB Holdings also proved popular with asset managers in the first six months of 2010, with unit trusts being net buyers of 1.7 million shares in the counter. Some of the big buyers included the RMB Balanced and Value funds as well as the Nedgroup Investments Optimal Income Fund.
 
The group is currently trading under cautionary, which was renewed last week. Shareholders were advised that the group was reviewing a potential restructuring, which could affect the price.
 
When the group reported interim results for the period to end-December 2009, the intrinsic value of the listed investments was 3 194c. This indicates that the share is trading at about the same value as its listed investments, and does not recognise its R2.7bn in cash holdings.
 
 - Fin24.com

NEXT ON FIN24X

 
 
 

Read Fin24’s Comments Policy

24.com publishes all comments posted on articles provided that they adhere to our Comments Policy. Should you wish to report a comment for editorial review, please do so by clicking the 'Report Comment' button to the right of each comment.

Comment on this story
0 comments
Add your comment
Comment 0 characters remaining
 

Company Snapshot

We're talking about:

SMALL BUSINESS

Johannesburg has been selected to host the Global Entrepreneurship Congress in 2017. "[The congress] will ensure that small business development remains firmly on the national agenda and the radar screen of all stakeholders, the Small Business Development minister said.
 

Money Clinic

Money Clinic
Do you have a question about your finances? We'll get an expert opinion.
Click here...

Voting Booth

People who fall victim to Ponzi scams are:

Previous results · Suggest a vote

Loading...