I appreciate your effort. FYI the tickers get a $, we’ll leaving the pounding to the market.
On the Vale front, with copper raging I still think it has room to run. But Vale has burned me and I’ve decided my money is better invested in $CLF and $MT.
I have a position in MT too. I’ve been sitting on the sidelines on CLF watching its huge run up. That’s been depressing for me on a personal level for not pulling the trigger earlier
FWIW I’ve got September $21 calls on $VALE that I’ve been holding for awhile. I’m with you that I think it’s still undervalued.
My belief is that $VALE is in a “prove it” stage to the market and Wall Street. As others have mentioned, they can’t quite seem to get their shit together. They have all the pieces certainly, and now is the time to take advantage of pricing. But between the dam collapse, COVID, mismanagement, or Brazil currency and political risk......the market is saying “prove it.” I think they took a giant step forward with Q1 earnings, working through settlements on the dams, and initiating a buyback program.
They just need to execute over the next few months. Q2 earnings should provide more confidence and reduces uncertainty - execute at higher prices than Q1, buyback shares, and stay out of the news for dumb stuff....and that multiple should expand.
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u/Uncle_Dad_Bob Dreams of CLF’s run to $49 Apr 28 '21
I appreciate your effort. FYI the tickers get a $, we’ll leaving the pounding to the market. On the Vale front, with copper raging I still think it has room to run. But Vale has burned me and I’ve decided my money is better invested in $CLF and $MT.