How to buy and sell Sirius Minerals shares

How to buy Sirius Minerals shares

If you want to buy Sirius Minerals shares, you can choose between owning the physical shares or betting on the share price. Share dealing enables you to buy and own Sirius Minerals shares, while derivatives trading lets you speculate on price movements without owning the shares.

You will need the full value of your investment upfront if you want to own the shares. If you choose derivatives trading, you only need a small deposit (called margin), as you’ll trade using leverage. In both cases, your profit or loss will be based on the full position size.

Investing in Sirius Minerals shares

You can use the IG share dealing service to invest in Sirius Minerals shares. Simply open a share dealing account and follow the steps below:

1. Log in to your share dealing account
2. Search ‘Sirius Minerals’ in the ‘finder’ panel
3. Choose a deal price and enter the number of shares you want to buy
4. Buy the shares

After you’ve successfully bought the shares, they will appear in your IG account. Any rise or drop in the share price will also reflect in the account. IG will pay any dividends due to you directly into your share dealing account.

Trading Sirius Minerals shares

If you use derivatives such as CFDs or spread bets to trade Sirius Minerals shares, you can buy (go long) if you think the Sirius Minerals share price will go up or sell (go short) if you think the share price will go down. To buy, follow these easy steps:

1. Log in to your trading account
2. Search for ‘Sirius Minerals’ in the ‘finder’ panel
3. Choose your position size
4. Select ‘buy’ in the deal ticket and confirm the trade

Understanding Sirius Minerals: a brief history

Sirius Minerals was founded in 2003, and it listed on the London Stock Exchange (LSE)in August 2005. The share price at the time of listing was 6.5p. Originally, the business was focused on mining potash in the American state of North Dakota, but this shifted in 2010 when chief executive officer (CEO) Chris Fraser announced his interest in mining in the UK.

Fraser was introduced to Peter Woods and Rick Smith, who first discovered polyhalite in North Yorkshire. And so, in 2011, an application was submitted to the North York Moors National Park Authority to start drilling at its location. By mid-November, the share price had rocketed to 32p.

In September 2013, Sirius Minerals had to put its plans on hold to re-evaluate the project’s environmental impact. The share price dipped to 7p by November of the same year. The company resubmitted its plans the following year, but they weren’t approved until June 2015. As a result, shares were finally approaching the 20p mark again.

Construction and mining started while Sirius Minerals was making plans to get all the capital it required. However, it ran into some trouble in 2019 when it postponed the sale of a $500 million bond, causing the share price to plummet by 39%. This development has cast doubt over the future of the North Yorkshire project.

Sirius Minerals shares: the basics

Sirius Minerals shares are listed on the LSE under the ticker symbol SXX. It is also a constituent of the FTSE 250.

Sirius Minerals has had quite a tumultuous few months – with share prices dropping by roughly 85% from April to August 2019. The share price is largely driven by the status of the North Yorkshire mining developments as it has been struggling to raise the funds it needs for the project.

As uncertainty surrounds the future of the Sirius Minerals share price, it has become a popular option for short-sellers. In May 2019, more than 9% of Sirius Minerals’ shares were being shorted.

Sirius Minerals key personnel: who manages the company?

Sirius Minerals has five senior executives that manage the company.