Just read a report by S&A Resources who say that IAM's current debt is 639-million and its cash position is 665-million, or a positive 26-million. Don't know how accurate this report is , but it does tend to support bluefalcon who was indicating a slightly lesser amount. On the sidelines waitng for $3.90.
Why do u rely on reports; same data available free on Yahoo Quotes under the " Key Stat " Tab:
Total Cash (mrq): 665.70M
Total Cash Per Share (mrq): 1.77
Total Debt (mrq): 639.20M
Total Debt/Equity (mrq): 16.77
Current Ratio (mrq): 3.86
Book Value Per Share (mrq): 9.90
I expect that after the earnings report due out Monday evening ( Aug 12) tjat Net Cash ( Cash minus debt )
will go negative for the first time; then I will load up if the stock drops ( after last week's run up; thanks to the Marc Faber recommendation)
It makes sense to include “short-term investment” to cash number. This way “Cash and Short-Term Investments” totaled $762M at the end of Q1, while total debt was $639M. It can be noted that cash likely declined by about $100M during Q2; exact number will be reported next week.