Buy the weakness get in before the 2Qearnings pop and good guidance with further debt reduction you will be rewarded. Stars have been lining up and LG and his mgt team have done all the right things for a strong foundation to build on.
Thank goodness they issued equity when they did. $600 million at $10.75 per share was a stroke of genius. The increased dilution is part of the reason for the short term pain in price performance though
China iron ore 62% traded down 2.33 at 57.91 a ton Have a good long weekend
Can anyone confirm that CLF cant pay a dividend until the negative equity is removed from the balance sheet, CLF had 831 mil negative equity at the end of q117. The only way to get rid of this is more equity issue or earnings. This is a significant issue to the resuming of a small dividend.....any experts that can comment?
As bad as things seem and regardless of what I have said about CLF maybe heading into the 5s, there is no reason for this to happen. CLF was trading in the 5s last time ore was in the 50s, but it was in much worse financial condition. LG has stabilized the balance sheet and the company is in very good financial shape, so logic would dictate this shouldn't happen. I reckon the street doesn't see things this way and will take it down with the rest, but still makes no sense to me.
Here is the deal and you won't like it! Nixon wire tapped the dem party. Illegal but only serious to him and his party. Clinton lied to congress. Illegal but only serious to him and his party. It may be proved that Trump colluded with the enemy to sway the election. This undermines our very democracy that separates us from the world. Serious to everyone, the country and the very things we fight and and die for. It's a big deal. Maybe not to partisans who want to sweep this under the floor and want to believe this is just politics. It's not and it spells trouble for the market and our way of life. I told you ............. you won't like it!
Zack Equity Research recently said CLF has committed to increase the SH value thru Dividends and Share purchase. I hope this can happen. Even a little dividend can stop Shorts in their tracks.
The SP will move up only when investors and WS realize that CLF has NOTHING to do with China's IO price . It has its own contracts with US Steel companies and some 20 mil production of US IO is sold out.. As long as they have APIO Operations, this will NEVER happen. WS will always equate CLF with IODEX Iron Ore price. LG Must realize this and SELL APIO Operations at just about any given price and NOT wait till it runs out in next 2 to 3 years. He can still get may be some $200 mil for that operation. and it will be a great DIVORCE from Seaborne IO price and only then the CLF price will go up We don't have a person like Bill Ford who fired Mark Fields because not hat the Company was doing bad but the Stock was not doing good . CLF's earnings will be fine but stock is doing lousy and there is NOONE in CLF like Bill Ford who can fire LG and SP suffers.
Let's REAM the shorts. Who's in?
china iron ore 62 % trading down 28 cents at 60.24 a ton
The sp is going to fluctuate between earnings just like it has always done.. it's dominated by short term traders and shorts. Value investors have not found it yet due to previous loopy earnings and high debt (which has been fixed) Give LG a break he did unnatural acts to save this co from BK , reduced debt from 5b to projected under 1b at ye, cash flow negative to positive all under 2 yrs
What LG can do, beside running CLF business, to show he has a concerned about the company stock price are: - Buy stock with his own money, and yes he did. - I remember a stock I followed long ago, MSTR. This stock was beaten down badly, to single digit from triple digit, by the shorts. The CEO, Michael, publicly advice shareholders, via a news letter, to pay attention to the short tactics and how to deal with it, and along the way, expressed his confidence in this company business.
I think this might boost the moral and shareholder confident in the company.
However, CLF is notoriously volatile and hence attracts a large crowd of "day traders" with jittery fingers ... jump in and out with couple cents gain/loss ... and obviously the shorts have the upper hand here ...
What I really hope for is 5-10 cents per day ... no big spike ... yes, boring ... but the day traders will abandon it ... and the stock will be judged by its true potential.
Ross said the department expected to conclude its investigation by the end of June, before the 270-day deadline that typically is set for a Section 232 probe. Commerce has also opened a similar investigation into aluminum imports.
May 24, 2017 USW Calls Entire Iron and Steel Sector Important to National Security;
CONTACT: Holly Hart (202) 778-4384; email@example.com
(Pittsburgh) – United Steelworkers (USW) International President Leo W. Gerard today appeared at a public hearing for the Section 232 Investigation into the effects of steel imports on U.S. national security. In his testimony, President Gerard called for treating the entire iron and steel sector as important to national security.
“From the materials utilized by our military to the materials necessary to build, maintain and repair our critical infrastructure, our national security is increasingly at risk because of the relentless economic attacks on our steel industry.
USW Calls Entire Iron and Steel Sector Important to National Security;
Urges Canadian Exemption from Any Measures Due to Economic and Strategic Relationship
"The 6.250% bond due October 1, 2040, has been range bound the past month or so. The bond had been over 88 and then down to approximately 76 before rebounding with the last trade at 77.85. The stabilization of the 2040 bond is encouraging and might suggest that the common stock could stage a rebound"
Looks like they might finally be planning on paying out proceeds from the bloom lake sale.
The following was posted May 20th.
Petitioners' Motion for the Issuance of an Order approving the Allocation Methodology and other relief
We may get a chance to see if CLF seperates from seaborne ore pricing today. Ore is down in China, but X us up on an upgrade. So there will be the tug of war between ore pricing and the X relationship with CLF
There wont be any issues with Democrats passing an infrastructure bill. They like spending money, it provides jobs, and its going to be an election year. What are they going to do "I opposed bringing in 5000 high paying jobs to rebuild those lousy roads in my district because Trump talked with some Russians?" that's a loser. I am more concerned about the Republicans and their hang up on it not adding to the deficit. There are things you need to do and this is one.
1k bought @ 6.20. IMO the near term bottom is closer to 6.0. Maybe next week.
Apparently a bunch of traders had bought thinking something good would come from todays meeting. The price action in the morning supports this. When it didn't happen they dumped out as soon as they could, and as such the price has gone south. Just shows how dependent CLF is dependent upon protections. If these don't happen I don't see CLF doing much. If they do its going to take off. And I still contend if and when the infrastructure bill passes ore is going to go through the roof and I wouldn't be surprised to see CLF trading around 20 at some point