Some analyst have not adjusted their estimates into 2014. We really need to get through Q4 to get the effects of that huge impairment charge last year on the published PE before all the analyst get on board. At $35 a share, CLF should record a sub 10 PE.
Too many of their clients have short positions that they need to cover, by raising their targets, they are telling their clients they need to make their move now.
If you pull up the future contract prices on China's DeLian Exchange, at mid point of 2014 the contract goes for $151 a ton for iron ore. Again, you going by the market's expectations or some analyst that can't even get a 3 month projection right?
There isn't much steel that goes into an airplane, but this does point to all of Asia's needs to upgrade their airport system as their economies expand. China realizes that upgrading all their transportation is key to moving them forward to a developed economy.
This is great news! Do you even know how far out CLF's long term debt goes out in time. Their last $800 million bond expires in 2040! You have them paying off their total debt 20 years ahead of schedule.
I am holding my positions, with the huge number of shares held short, now is not the time to sell as we have yet to see the main body of short covering.
What CLF needs to do is spin off a freight / transportation division, let them raise capital to develop the transportation system to service the entire Ring of Fire while maintaining a large share of the new company. Other miners in the area can buy into it as well.
Since you got all of this off a phone, it is clear you don't need an optometrist.
Great insight to the stock.
Thanks for the news, it is good news in the right direction.
According to GS, Q3 earnings are approaching record levels, Dow 50,000 could be a reality.