If you want to recoup some of your losses - sell Cliffs now and buy these stocks - or add your favorites
I just thought I'd start a positive thread. Looks like everyone needs it, and in any case, no sense crying over spilled milk (and a lot of milk has been spilled here)!
These are my favorite picks in the mining space. Add yours here too, if you have some favorites of your own.
No hype, and do your own DD before buying - I would buy deep in the money LEAPS on the first two, if you have the stomach for some risk. I've been watching Cliffs for awhile and I am glad I never felt compelled to pull the trigger on it. Came close though.
VALE - If you want a similar, but more diversified play. Not a bad value at current prices.
TCK - One of my all time favorite miners, have been buying and selling this for some time. I'd prefer to buy this under $30 if I'm taking a cash position, but that will require some patience on your part. May have some more headwinds to deal with this year, but anything that causes a PPS drop here presents a buying opportunity.
TC - Smaller cap with a lot of the risk baked out at this point, and a huge upside when it's new property commences operation in Q-4.
@ Retoba - I have been following mining stocks for over 6-7 yrs and know most companies inside out, so I would have to dishearten you by saying mining sectors are DEAD money for now. I have owned Alcan, Equinox Mineral, Quadra FNX, RBI, GCE,IMN, LUN, HBM, FCX, ELD, TCK and 50% of my holding co's have been acquired. China is in standstill and this world has enough supply to feed the demand for a long time. I am a mining engineer and on the way to pursue CFA so it is easy for me to #$%$ values.
I did own CLF but sold half of my position at $38 and rest half at todays opening. With dividend cut, secondary offering, reduced margin ... there is nothing much left out there. CLF can easily go to $20 and I might again take a position