I have been watching this stock, do not really know what to think. Maybe met coal will turn with iron ore going into the end of the year. Good luck with it.
A Bloomberg article has MS predicting a rally in iron ore as high cost miners have shut down. Vale estimates it will be $100. Iron ore price headed up and the stock buyback will lift CLF's share price back over $20.
If they sell assets and keep the chromite project, that tells me they are moving to diversify their holdings which is a smart long term investment. So far all I hear is they are moving to sell coal, Asia Pacific and Wabush.
No, been monitoring the Canadian and Australian news networks as this type of volume and price movement has been in advance of breaking localized news.
They gave you 3 chances today to cover your short position, now it is taking off. My thought is there is an asset sale that will be announced and some have advanced notice of it.
and CLF will see the success. As they sell assets and excess inventories, they will expand the program further. Buybacks like this works better than increasing dividends.
When you write junk that is not true, I will call you out. The reason CLF is down is not because of its performance, it is a simple classic short attack and I expect you and some others will try to throw out "facts" to support this short attack. And when you do, I will be quick to perform a fact check.
X income 2013: ($1.672 billion) 2012: ($124 million) 2011: ($53 million) 2010: ($482 million) and the last quarter of 2014: ($18 million)
CLF had some losing quarters in impairment charges but continue to increase their cash position. If you really look at the published income statements, CLF is in a much better position than X.
You are talking positive cash flow and Bob is talking net profits after depreciation, depletion and amortization. Bottom line is any mine that can generate cash at the current iron ore price has great value as it will lock in long term low cost for any steel company that is looking long term.
Not even realistic. But if CLF used any asset sales to buyback shares, that would have a major impact on the short position and the value of those shares CLF would be sitting on.
Yes it does, however the shares they buy are held by the company as assets and therefore it is a net, net on their leverage.
What is really hurting BHP and RIO is the selling of iron ore reserves at these low prices which is depleting future profits.
Too bad the old management didn't realize this a year ago, they would still be in control and the share price would be in the $30's.
Robert knows I am right and has reason to be worried, the reason he comes up with junk like this. As I have said before, better to ignore him and his other ID (smickersmack).