I don't follow this one as close as I should. But I am interested in why your view for the future is negative? It always helps to hear different views, since I might have missed some important considerations.
My calculation was that with the CNs becoming history, buybacks continuing, NA3 ramping up then Malabar after that, that our prospects would be positive even with only reasonable coal prices. I figured the anti-fossil fuel politicking would essentially put a moat around current producers. Barrier to entry is lifting by the day.
While PE ratio will probably be DS for a long while, they will be printing an increasing amount of profit each year. Probably.
Do you see it as a dividend trap, where the only way is down? I caught a few of those when I first started investing. Even bought into CLH after reading about it from that shoeless guy. Timing was bad. Never saw a dividend. Lost most of the capital.
I guess the macro factors are quite unstable, and are unlikely to improve soon. DC seems intent on triggering WWIII, to distract from the BCF revelations.
GLTAH.
NHC Price at posting:
$5.17 Sentiment: Hold Disclosure: Held
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