St Vanadium titanium Continuous 5 trading Citic Securities said there are 90% space

NetEase Finance December 22 *st vanadium Titanium today to collect the 5th trading board!　　Received 11.52 yuan, today again volume transactions 1.353 billion yuan, compared with yesterday's turnover shrank. Yesterday, *st vanadium titanium total day transactions amounted to 3.407 billion yuan, a record of the shares since the new highs, at the same time, there are 41.23 million shares or 452 million of billions of letters. Industry analysts point out that this is due to *　　St Vanadium titanium to 10.97 yuan trading price after opening, has been higher than 10.55 Yuan two cash right 0.42 yuan, and in April 2009 before the purchase of the arbitrage agencies, such as banking products and financial investors such as Shanghai automobile involved in the amount of more than billion, in the target price to achieve after the crazy sleeve is caused. "Pangang department" in April 2009 before the end of the integration, ICBC, BOC, CCB, Everbright Bank total maximum of 8.4 billion yuan of financial funds flocked to buy Pangang steel vanadium (*ST vanadium Titanium predecessor) stock, SAIC and related arbitrage agencies also have billions of yuan to participate in it.　　The ultimate goal of these institutions is to achieve risk-free arbitrage through the exercise of two options, because at that time, about 9.7 yuan in the stock price, from 10.55 Yuan 8.76% Gap, plus *st of the commitment of vanadium and titanium dividends, the annual return of more than 5%. In this context, as BOC, CCB, etc. in its related financial plans have made it clear that when the purchase of "Panzhihua Iron and steel" stock market prices higher than future maturity will sell all stocks.　　Thus, from the point of view of early locking of revenue and accountability to financial clients, some of the arbitrage funds were chosen yesterday to deliver profits. Yesterday *st vanadium and titanium shares at 10:30 after the card, Stock price at 10.97 yuan trading price, but the opening only a minute to be 483 million yuan to cast the single pressure, but trading board has not been opened, at 10:50 by more than 600 million yuan trading volume smashed open trading board, but at that time the lowest price of 10.76 yuan is still higher than two times the price of cash options, the stock price was then sealed again by a large single rose stop plate, early stock price although there　　Repeatedly, but the afternoon has been sealed in the trading board, closed 41.23 million shares of the letter, showing the exit outside the confidence of the capital. *st vanadium and titanium from steel stocks "changed" as a resource stocks, the valuation system changes. The current a-share market iron ore enterprise 2011 Average PE 92 times times, PB is 12 times times, much higher than the steel industry in 2011 PE19 times, PB1.5 times the level.　　According to the profit forecast of *st vanadium and Titanium, 2011 net profit will reach 1.85 billion yuan, with December 20 closing price 10.97 yuan calculation, namely 2011 PE is 33 times times, at present company's PB is less than 4 times times, both data are lower than the iron ore industry average level.　　Several domestic securities companies have given "buy" rating, optimistic about the company's share price, of which Citic Securities to give *st 20 yuan of the target price, more than the current market still has more than 90% space, Xiang-wealth securities is given more than 30 yuan target price. Industry analysts point out that institutional funding is a strong and arbitrageThe capital war will continue, but the *st of vanadium and titanium will appear to be on the upward trend. Related news: St vanadium titanium continuous 4 Trading yesterday more than the tens of billions of arbitrage funds fled Anshan Iron and Steel Co., Panzhihua Iron and steel injection 9.9 billion mining assets