I have learned to do opposite of what Jim Cramer says. He and his Seeking Alpha are bunch of jackasses
This guy is so gutsy and not afraid of Analysts , WS or Barrons. He has a vision and 30 years experience in Metals industry and knows a lot of High level people in Mining/ Metals business. He will eventually sell some non-core assets at the "Right Price" and concentrate on just US operations and eventually take the stock price to $30 in next 12 months. CASA wants their money. Remember their cost for their 8mil shares of CLF is $25.40/sh.. and LG is their man.
CLF @ $10.70 as of now up 4.7%
Book Value is fictitious. Its based on calculating BL and wabush mines at a very high value. Thet cant get even 20% what that they calculated in today's market if they sell it. AP assets value is also lowered. So the Book value may be closer to $20 than $34.5
So until yesterday all was well and just today WS and Analysts all of a sudden realized that P is not growing? yes, GAAP basis they had a $0.01 loss but they did beat WS est of $0.08 operating earnings and also on sales big, and their Q-4 operating earnings predictions are above est. so I don't get it. Now that the MNGT realizes that They need positive GAAP basis earnings,it will be positive in Q-4 may be by 2 cents .L ook at LNKD, AMZN, GPRO and many others so called go go growth stocks , they all are trading at a huge P/E and continue to do so and WS is NOT bothered by it. I think P will get back to $25 when all selling is done in hysteria .
There will be NO bankruptcy for the Company. If one exists it may happen for CLF Canadian Subsidiary if they can't find Equity partners by the end of the year and Must shot down BL. US Steel Canada filed for Bankruptcy one time and now doing a booming business. It will not affect the parent company . So STOP trying to scare people here ..solar. You are just #$%$ because you sold your Cliffs shares at a big loss.
No..these analysts deserved whats coming to them. They have bashed CLF merciless for the last 2 years during the past and the present MNGT. They can all go to hell for saying CLF stock will go down to $5..$4 or even $2 and company may be Bankrupt. They had NO RESPECT for CLF and that also includes S&P, Barrons and WSJ too.
Nothing more. They have nothing concrete to post here.
surf.. I think its all speculation. it true , I think CLF and Gonclaves will take and run with it. One thing for sure Goncalves is under a lot of pressure to divest the non-core assets. He may have some info but likely to sandbag till Earnings time.
Cliffs is the only US IO company and supplies 60% of IO for our economy to US steel companies for meeting Auto,housing roads bridges and nameless other infrastructure needs.
It is NOT going away and US operations are very profitable. Past MNGT made some big mistakes in buying INT Mines at a very inflated prices and as a result we suffer. bu we are at a very low stock price and I do hope the new MNGT will fix it by cutting workforce, CAPEX, boosting efficiency and selling non-core unprofitable assets even in this low IO price environment and by concentrating on LT US steel contracts and new business here,and forgetting Seaborne IO price competition.
Q-3 earnings will tell us a lot as to the direction we are taking and I think company will beat analysts estimates of $0.05 handily. CASA is losing big and they are just as much under pressure to improve the stock performance. as their cost is $25.5/sh. Some one named Mr. Connell bought 5.22%stake in this company per today's news,.so they must have some confdence in this company too. It takes time and i do hope the stock will begin to move up and we may see $12-$13 by the earnings time of 10/27. So just RELAX and perhaps buy more under $10?
Sorry but this is all OLD news . However Aussie assets are profitable and will be easier to sell. But what I hear from my sources is that he is NOT going to sell it unless he gets a fair (right) price..
I wish I had never heard of CLF....but how can you avoid it . It was a Go Go stock in 2011.. in its glory days especially if you lived in Cleveland area.
Not gonna do it. It might go to $10 perhaps if Dow went down over 100 points.. but NOT much lower .LG is now in control.
Positive EBITDA. This is very good news.
US IO Operations( $245 mil) and AP IO Operations ($46 mil) generated nearly $300 mil total EBITDA.
NA MET Coal generated positive $6 Mil EBITDA. in Q-3
For BL Mine they have a partner with 17% equity and need 30% more equity partner(s).. 3 with 10% each, or even just one with 30% or a combination of 2 wirh 30% Equity . If that happens they can work on Phase II expansion and will be CF positive.. otherwise it mat be sold at a right price but will not be expanded beyond Phase I. w/o equity partners. BL mine has a very high purity 66% Fe content and little Silica IO which is very attractive for Steel Mills, and some Steel companies still interested in putting up equity.. until then it will remain unprofitable and LG is looking for some sort of a resolution to this unprofitable mine by the end of the year
Wabush is shut down. Th is mine will be completely off the books and CLF portfolio by the end of the year
Overhead cost have been reduced from $185 mil to $165 mil and will be further reduced to $150mil in 2015
All this look so positive and by Q-2 of 2015 CLF ,I think will generate earnings at a rate of $3.00/sh in 2015. They paid down debt by $100 in q-3 2014, and it now stands at $3.0 B. I expect CLF stock price to hit $25 by the end of Q-3 ,2015. So all Longs here have patience and good luck.
they thought they can do it and got control.They are no different that Kirsch etc. Its time they realize that Seaborne IO is their DEATH TRAP. Answer Get rid of INT asset fastest at whatever you can salvage.. take write downs and move on. Every day I wake up and see this stock down another 2 %o sell .Why they must hire 3 bankers to sell these assets .Just hire only one ..the best one and tell him sell it all NOW NOW!!. wasting money on 3 bankers who will take their time to prolong the sale means more money CLF will spend that they dont have.