It’s been a great ride but technically overheated over $6.14. So I’m out and used profits to add to FCX and BHP.
I was mistaken on my hopes of the dividend reinstating. The earnings report will most like identify why.
I may buy back after earnings which I understand will be more on the negative side.
IMHO - well over $11.00 by 8/5/16.
If you reviewed and monitored the last few 10K’s, 8K’s, and legitimate Upgrade Reports with recent upticks in Ore prices you’ll have a better understanding why IMHO dividends may be reinstated before the end of 2016; if turnaround continues as it has.
There is a good chance we’ll see $11.00 to $18.00 or higher by August 2016.
Earnings are expected to be announced 07/28/16 end another surprise as previous estimate was projected at $0.00, high and low estimates are $0.13 and -$0.14. April’s report was a positive surprise and July’s should be too. IMHO EPS should be considerably higher again with recent events including up-tic in ore prices.
Having turned the corner with clear signs greater profits again while generating more cash this year and years to come, reinstating divided payments IMHO will most likely be revealed.
Last $0.15 dividend was declared on 11/12/14 and CLF closed at $10.71, on 8/13/14 closed at $17.41, 5/21/14 closed at $16.23.
IMHO things look more promising than recent history for CLF shareholders.
I am long and holdings in CLF now overweighed in my portfolio.