Looking @peer HTS and others this preferred is undervalued at least 10%. For patient investors this is a chance very rare to make money with little risk. Illiquidity only drawback so use limit orders always.
sure you can buy it for 20 cents...so what? The market clearly knows there won't be a higher bid. You bet on that but it is just a bet.
it is really becomig a joke...it reminds of the high-tech small caps in 2002....enterprise value had to become negative to lure buyers...we are almost there!
sorry but in the long-run P/BV means eveything, it is the only indicator that matters. Naturally some companies because of past performances may fly higher and stay there for a while but then....as we see in this case...they have to face the truth of BV. I am quite fine with the preferreds since prices are discounting absurd threats.
The problem is liquidity is shrinking. C6oeur Mining is down to its last $205m of liquidity probably with limited further access to the financial markets as its public debt has fallen to 57c from 80c on the dollar three weeks ago. The company is raising its production plans and reducing costs for 2015 but with silver and gold prices down 10% and 8%, respectively, compared with its Q2 sales prices, the bar to achieve positive free cash flow and protect the balance sheet is getting higher. In the last silver downturn in the early 2000s, Coeur was able to mothball higher-cost operations and focus on just its highest-grade mines. However, after the La Preciosa and Wharf purchases, the company now has $548mn of debt. Corporate liquidity seems to be approaching the $150mn minimum level mentioned on the last conference call.
unfortunately all commodities are trash at the moment. China is the n.1 responsible ...or scapegoat? No place to hide.
The company looks incredibly cheap but just because estimates are way too high. It seems to trade on a p/E of 17x and an ev(ebitda of 3.6 for 2017 but the reality is different. Break-even palladium (Pd) and platinum (Pt)
prices for SWC (based on AISC guidance) at approximately $690/oz Pd and $1,030/oz Pt which are higher than spot. I was inclined to buy but then I think we must see a bottom in spot prices first. If Pd is driven by auto demand in China we are still in a downward trend.
Yes, let's see. Anyway I think everyone (including the professional investors) have deserted the secor and thrown the baby out with the bathwater. I want some guru to explain me why the lower dividend NYMTP is trading 1$ above the higher dividend NYMTO!! There are other examples of this kind of inefficiency in the market, especially in the not rated high yield sector. There are corporates (same company, same maturities, minor differences in covenants) trading 20 points above others only for liquidity reasons. Cash is king and we are in a random walk street,