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Diary of a Top Stocker: Kenmare is a winner and I'm on the launch pad

I'm back with the identity of our last competition winner and exciting news about my Citywire Top Stocks portfolio. 

 
Diary of a Top Stocker: Kenmare is a winner and I'm on the launch pad

Citywire Top Stocks has had its fifth monthly update which means I can finally reveal the name of the winner of our December competition and tell you about the latest changes in the company line-up.

Congratulations to Kenmare Resources and Kathryn Tan

For our third and final competition we asked you to pick the Citywire Top Stock that rose the most in December.

The answer was Kenmare Resources (JEV.L), the Irish miner that operates the Moma mine in north-east Mozambique. Bouyed by hopes that rising prices of titanium may push Kenmare into profit in 2012 the stock mounted an impressive end-of-year rally, rising nearly 30% from 35p to 46p. It closed last night at 47p having given up some ground after Jacob Deysel, its chief operations officer, sold 300,000 shares, about a quarter of his stake at 50p last week.

Kenmare is a popular stock with 38 of the 315 reader forecasts we received plumping for the company. However, although there were many who got close there can only be one winner and indeed there was only one reader who correctly chose 46p as the finishing price. Congratulations to Kathryn Tan who wins an iPad 2.

Kenmare drops out of Top Stocks

Funnily enough Kenmare has just dropped out of Citywire Top Stocks. We probably shouldn't read too much into this as it more than likely simply reflects market movements rather than selling by Tom Dobell, the M&G Recovery  fund manager who has been a long-term supporter of the stock.

The reason for this apparent anomaly is because the competition is based on December data, but this month's update of Top Stocks constituents is based on the top 10 holdings of our panel of five fund managers at the end of November. Kenmare's share price fell that month, which meant it fell out of Dobell's top 10 but then rallied in December to give Kathryn her prize.

You may remember exactly the same happened with our first competition. The winning stock was Domino Printing Sciences (DOPR.L), whose share price had enjoyed an excellent October, giving reader Michael Straker his prize in November when we had to reveal, that after a poor September, it had temporarily been pushed out of Top Stocks and the top 10 of the Artemis UK Special Situations fund run by Derek Stuart.

This trend for one month's fallers to be the next month's riser is something I may well seek to exploit when I get going on my Top Stocks portfolio (more below).

More on this month's changes to Top Stocks

After all that it behoves me to tell you that Domino has fallen out for the second time. Will it be back? I think so.

Also in our drop out box are AstraZeneca (AZN.L) and Centrica (CNA.L), which both joined in October; Barclays (BARC.L), which has been with us since our September launch; and Lloyds Banking Group (LLOY.L), which was added in November.

On the other side of the equation, there are no new entrants this month but four companies re-joining Citywire Top Stocks. We are reunited with:

My Top Stocks portfolio

Lastly, I can exclusively reveal that I have decided to use Barclays Stockbrokers' platform to run the Citywire Top Stocks portfolio.

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4 comments so far. Why not have your say?

Senti Meter

Jan 19, 2012 at 08:35

Barclays portfolio report is still USELESS at it does not have a total of stocks held. What moron produced that report ? and why, after 3 months have they still not made good this simple error or judgement. It wouldn't take much to add it in - I know I was a programmer and have 2 sons who are ! - get a move on Barclays and make your site the TOP dog ! - Many thanks for the article - very useful, as always

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A. Johal

Jan 19, 2012 at 09:38

Good to see the new Top Stocks list again.

Kenmare Resources is certainly a winner alright. Congratulations to Kathryn Tan for getting the price right on the button. Enjoy your iPad2. I just missed out on my forcast at 45.67p. I know there has been quite a few other forcasts very close to the mark. May be there should be a second place price eh !!!

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Graham Barlow

Jan 20, 2012 at 08:45

I bought this stock ages ago at 20p, and was horrified at the result of the Sleep Walking case where the Jury in Dublin awarded the claimant $10 million for humiliation! by the company staff! However the company's business is so good and production dramatically increased they have ridden out this storm. The case may still be in the Court of appeal? No matter how careful you do your analysis ,you cannot anticipate everything!. I am told even the Judge nearly fell off the Bench at the Jury decision!.

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Graham Graemes

Jan 21, 2012 at 12:53

The price for titanium is expected to rise this year so it's a go win situation for Kenmare again. Already we can see that the price of titanium oxide to be sold by Iluka this year will be considerably higher than in 2011. At present holders are top-slicing the stock so IMO if you are going to enter this market just wait a few more weeks to see how the markets are moving AND then do not be tempted in any event to consider selling until the last quarter of this year when there will probably be news from kenmare about it's future expansion policy. ATB

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