atrue.. no steak dinner yet..lol. SP sunk like skunk. We have to wait now till Q-2 earnings date to see if it gets to $5 and stays there.
CLF stock price is not affected by markets or other miners' stock price. It does its own bloody thing and its a good trading stock only if you know how to trade.
We need to spend some $500B redoing the Infrastructure That can use a lot of steel and that means a lot of IO too. Our roads, bridges, RR tracks and BLDG are in such bad shape and need replaced or repaired.
Volume of USIO needs to get over 20 mil tons at least and hope it does with all these new businesses This is Very IMP for their Cash Flow and if CLF is going to chip away at debt slowly.
A lot more Steel production in USA and More contracts with Steel companies in USA and Canada. If Trump becomes president , It will happen in USA. That will perk up US IO volume. in 2013-14, US IO volume was around 22 mil tons. and it can happen again.
Per year so that CLF can pay down debt slowly. Until The debt comes down under $1B, This stock will trade between $3 and $7.. assuming it has consistently earnings QTR after QTR. If SB IO keeps going up,
Perhaps the APIO Unit may bring in some $300 mil-$400 mil on a sale that can be used for debt
reduction. Getting any cash from Canadian assets is too fluid to consider now.
I sold some 1500 shares out of 10k at over $5.40 and wished had sold all . I bought back some 2000 back @ $3. This stock will not move much up till middle of July when it gets closer to the Q-2 E. date. Perhaps good time to buy now Calls with strike price $4 and expiration date in early August
They will sign with MT for sure. The biggest Cliffy problem is still the debt of $2.5 B and WS is Not sure how CLF is going to handle it and thats holding the SP back.
Q-2 E. revised up from a Loss of $0.21 to a Profit of $0.01.. I think this will get even better.
Year 2016 E. revised from a Loss of $062 to E. of $0.68. This is a HUGE E. REVISION. People here get on the CLF Gravy Train.
Zack's Current Rating... 3 (Hold)
You have to subscribe to get live IO prices daily..Go on Google and Type Today's Iron Ore prices and it will guide you where to go. I think Macro business is one place you can go to.