Stock price when the opinion was issued
At a 52-week low today, but he hasn't and won't sell any shares. It looks like steel prices have bottomed--and shouldn't have fallen this far. Their M&A activity is also pressuring shares. Also, the Nippon Steel deal will be blocked; the US Steel deal was botched from the start. Hang onto it--it's below book value. Their M&A will add value. It isn't just a cyclical play.
If you're in a trade war and the world is slowing, commodity stocks (precious metals, steel-oriented) probably get weaker. That's the period we're in now. Probably a buy sometime soon, when we start thinking about recovery on the other end of this. Too early right now to dip a toe.
Pretty good company, one to play at some point.
He bought more. Has great faith in management who will turn things around, though it will take time. Steel prices have risen, but CLF has to wait for their existing contracts to end before they can raise their prices. Also, given tariffs, demand from the car industry here should increase with higher volumes.
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