"...Armco Metals Holdings will benefit directly and substantially from the new VAT rebate policy. Effective on July 1, 2015, the Company's main products ferrous scrap and waste plastics will have a 30% and 50% of VAT rebate, respectively. The Company's revenue from selling ferrous scrap and waste plastics in the first quarter of 2015 amounted $15 million..."
this is unheard of. Something has to give.
I completely agree with your estimate of $5.40 per share. The numbers don't lie. If you guys remember as I stated last week Q1 was becoming less important as it was obvious it would be much better than last years Q1 by 85% to be exact and the news for Q2 coming out of China is extremely promising. They have no erased that horrible Q1 last year from the trailing PPE so let's see what happens. I actually think they will end up $300M to $350M easily this year in revenue. It appears the numbers are headed that way.
yes. very well documented history of picking winners and for the record (albeit not large shares) UBS AG just issued a report and they increased their position 750% (not a typo).
"Mysteel survey on domestic major steel mills in May 2015
From this survey on mills' production arrangement in May, it can be noted that steel mills are arranging production even more actively in May from Apr, as the planned capacity utilization rate in May is 2.5% higher than the actual rate in Apr. The daily output volume of the five major types of steel products would gain 64,000 tonnes in May from the previous month..."
Sentiment: Strong Buy
every press wire in the country is picking up AMCO...
Afternoon Buzz – Armco Metals Holdings, (NYSEMKT:AMCO), Windstream Holdings, Inc. (NASDAQ:WIN), Stepan Company (NYSE:SCL),Rent-A-Center, (NASDAQ:RCII)
Apr 28, 2015Mark AnthonyBusiness & Finance
On Tuesday, in the course of current trade, Shares of Armco Metals Holdings, Inc (NYSEMKT:AMCO), skyrocketed 39.82%, and is now trading at $1.59.
Armco Metals, declared that its auxiliaries will possibly benefit from the recent export tariff changes by China government, which export tariffs of 94 commodities closely related with the iron and steel industry will be adjusted starting from May 2015, according to the declaration from the Ministry of Finance of China on April 23, 2015. Iron and steel granules and powders, tungsten, and molybdenum will be exempt from export tariffs, and wrought aluminum products will have a zero tax rate. Export tariffs on 90 commodities in the list will be eliminated and the other four commodities will receive a tax reduction. Export tariffs before the adjustment range up to 25% depending upon the commodity.
During 2014, in response to the excess production capacity in the industry and constantly declining price of iron ore, the company significantly reduced its import-based trading business by 57% as contrast to 2013, and raised our trading business of exporting metal products. The company believe that the elimination and reduction on the export tariff for the commodities may provide it with additional opportunities to grow its trading business.
Armco Metals Holdings, Inc. is engaged in the sale and distribution of metal ore and non-ferrous metals throughout China and is in the recycling business in China. Armco Metals’ customers comprise some of the fastest growing steel producing mills and foundries throughout China.
Do you really think a profitable company, with a great outlook, just traded 60% of it's float and there isn't a great news leak? You would be a fool to think otherwise. It may drop back down today (most likely will) but someone knows something big! This just doesn't just happen!
Armco Metals Holdings (AMCO) Rips to Session Highs
11:58 AM ET, 04/28/2015 - StreetInsider
Armco Metals Holdings (NYSE: AMCO) has ripped to session highs Tuesday. The stock is up just over 50 percent on heavy volume. While AMCO last reported public float of about 6.08 million shares, short interest at 94,462 shares shouldn't be much of a worry for traders.
Yes. I agree with you. There will be profit takers late in the day. The real test is closing today and open tomorrow.
It's already traded about 12% to 13% of the float. If it#$%$ 20% plus float this after noon we might get between $1.50 to $1.75 today unless someone starts dumping. The news yesterday was nice and a couple more news updates could get us to recovery.