I NEVER feel compelled to recommend a stock but I have to say that in this market there is an outstanding number of bargains, Im saying right here that a buy and hold on MT at 17 dollars is one of the greatest bargains ive EVER SEEN PERIOD. BUY IT. BUY IT ALL. ITS soooo cheap. And it makes money hand over fist. If you genuinely want a good long term play for your portfolio you cannot do better. He guy who owns it Lakshmi is/was the second richest man in Britain. If I was the CEO of a company like BHP I would go hostile on this baby right now. Period.
Also the profits last year were over 10 dollars per share and its selling at one point at 15. Enough said. Its probably got more cash in the bank than 17 dollars a share.
stock gots a lot of debt. if company falls, stocks worthless and laksmi still has his billions. steel get shits hard in recession. plus recession may turn in a depression. dow is now at 8k and can go to 4k some posters say. if you're fine with all of this
$10.35 per share earnings last year according to Bigcharts. 1.68 PE ratio. Its market capitalisation is currently only 25 Billion. And its cashflow since the purchase of Arcelor is enormous. If I was Carlos Slim this is the company I would be buying RIGHT NOW.
The things that work against this company now are major pluses in my opinion. The key would be to be very aggressive while everythings extremely cheap. Expansion rather than cowering in the corner could reap enourmous benefits in the future. And its so cash accretive that it can easily afford to weahter any downturns in its primary markets indefinitely.
Bottom line is that its lost 150 Billion in market cap since its peak and I beleive it will survive this downturn very nicely...
Actually I think Lakshmi is probably buying at these levels and may even consider privatising the whole company since he holds the majority stake. Thats what I would do here. Then he has 15+ Billion a year of free cash flow. I cant believe how cheap its gotten. Im only young so Ive never really seen a selloff this violent before.