Started a position in CLF today. Assumption 2013 eps will be between $2-3 per share, and dividend will drop to $1 per share for 2013. Based on selling covered calls to Jan/14, I have a basis of slightly less than $20/share with 10% plus return potential. I am neither a rabid short or insane long, but
like potential and excess capacity currently in this stock. Would plan to accumulate more if further investigation of company and industry confirms this action (current shorts position concerns me).
Based on a long term perspective in investing in this cyclical, volatile company what do the board members think a reasonsable price is to start averaging into this stock. Thanks for all comments...
you quit reading. if you read all the lines, you would find that $64 million was from income taxes BENEFIT. Negative income taxes, it ADDED to the bottom line. Income taxes usually reduce.
I thought you had done your homework. what you have just indicated that this is the first time you have looked at the financials.
you would also find that the JV was a loss.
show me the math error, and I will acknowledge it.
I have no problem taking responsibility. It is easy to do. Just please point it out.
If you are referring to SG&A for 9 months being $202 million, I already showed it to you.
The latest Q shows this quarter and 9 months to date. You have to look at the 9 months to date figures to find the number.
Until then, ROTFLMFAO
as a very conservative investment I feel your position will make you 10% period no more no less if the stock goes to 50 you make 10% if the stock goes to 20 you make 10% if it goes below 20 you start to lose gain until below 18 you lose money Not much for the risk/reward ratio but it works most of the time. I got into a call/put spread buying CAT 85 calls and selling CAT 85 Puts for jan 14 and did well for one week and took my profits
the surprise will be a stronger building economy in USA and much more stimulus infrastructure spending in China, Brazil which will send iron ore prices much higher than the consensus of 120.00 for iron ore. Met Coal seems to be on a nice rebound as well in pricing. If Walter or other coal assets draw any bidders, CLF could easily become a target as well.