The Short Report – 19 Dec 2019

Weekly Reports | Dec 19 2019

See Guide further below (for readers with full access).

Summary:

Week ending December 12, 2019

Last week the ASX200 recovered half of the losses suffered in the two-day sell-off in early December that was sparked by negative trade news. All was forgiven this week, with a “deal” being agreed upon.

As was the case the week before, there was little movement in short positions last week with just a couple of exceptions. Almost all of the red and green below represents minor bracket creep.

The two exceptions are Kirkland Lake Gold ((KLA)), which has risen to 22.6% shorted from 20.8% and Resolute Mining ((RSG)), which has risen to 9.0% from 7.8%. See below.

Otherwise, we might note that having dropped down in shorts the week before on its announced capital raising, Bank of Queensland ((BOQ)) is back on the climb again, and has been joined at the bottom of the table by peer Bendigo & Adelaide Bank ((BEN)).

Metals X ((MLX)) dropped off the 5% plus shorted table last week. Yesterday the stock plunged -28% after a downgrade to tin production guidance.

With regard the ASX top 20 short position table below, as of tomorrow Newcrest Mining ((NCM)) will replace South32 ((S32)).

This is the last Short Report for 2019. The Short Report will return in January.


Weekly short positions as a percentage of market cap:

10%+


KLA    22.6
GXY   17.3
SYR    15.8
ORE    13.8
SDA    13.8
ING     12.8
GWA  12.3
JBH     11.8
NXT    11.8
NEA    11.3
BGA   11.1
CGC    10.7
MIN    10.7
DMP   10.4
WEB   10.2
BKL    10.1
MTS    10.0


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