Could be a number of things..
- Someone posted the other day that some of the US majors were trying to muscle in on BSL are selling into???
- Steel companies haven't got a good history for holding Shareholder value. Eg Arrium went under, BSL almost did the same.
- Confusion that BSL sells Iron Ore ( I doubt that one as I think traders are smarter than that)
- Some might think that Steel prices will fall as Iron Ore has already done.
- Someone is manipulating the price to buy more shares cheaper.
- I think the ACCC civil action is still ongoing
- BSL isn't regarded any different to other steel companies.
The history of BSL shows it is very hard to predict when & why the share price will move. I probably didn't answer your question however there are a heap of positives out there that I don't believe have been fully recognised in the share Price.
- Little debt
- Massive profits (Steel prices still moving higher and Iron Ore costs reducing)
- Sell mainly into domestic markets (Australia, USA, Asia where their production facility are.)
- Targeted expansion in key markets
- Sound strategy - good management
- Buybacks - Less than 500 millions shares now
- Had to pay out some decent dividends(unfranked) to get rid of cash. Once they can give out franked dividends I believe the share price could double. All IMO.
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Ann: FY2021 Full Year Results ASX Release, page-31
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Last
$20.61 |
Change
-0.050(0.24%) |
Mkt cap ! $9.069B |
Open | High | Low | Value | Volume |
$20.44 | $20.70 | $20.41 | $13.23M | 642.6K |
Buyers (Bids)
No. | Vol. | Price($) |
---|---|---|
2 | 12948 | $20.60 |
Sellers (Offers)
Price($) | Vol. | No. |
---|---|---|
$20.64 | 5177 | 2 |
View Market Depth
No. | Vol. | Price($) |
---|---|---|
2 | 12948 | 20.600 |
1 | 2476 | 20.590 |
2 | 13012 | 20.580 |
3 | 3210 | 20.570 |
2 | 13928 | 20.560 |
Price($) | Vol. | No. |
---|---|---|
20.640 | 5177 | 2 |
20.680 | 12 | 1 |
20.690 | 2894 | 1 |
20.700 | 4211 | 3 |
20.710 | 10368 | 4 |
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