There seems to be an oversupply of steel right now, but this stock has an extremely high cash position and a very low p/e. I will take a look at this again tomorrow. I had several stocks down even more than SID today, but I will consider taking a position here.
I already have a good position but if it dips in the low 8's I will be adding some more. The Olympics and the World Cup still need their stadiums, airports, etc... so some of the steel will be bought from them.
"""but this stock has an extremely high cash position"""
Right. Yahoo! Key Statistics shows $5 per share in cash, for a stock selling @ $8.78. If this were a US company, I'd look at the most recent SEC filing to double check the unreliable Yahoo, but no SEC filings on an ADR.
So, can somebody tell me how to look at SID financials without learning to speak Portugese?
if there is an ADR that is trading on the US exchanges, they have to file a 20-F with the SEC. So there is a filing in English and with US GAAP as the accounting measures. Go to their website and download the PDF's.