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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$21.33 |
Change
-0.040(0.19%) |
Mkt cap ! $9.386B |
Open | High | Low | Value | Volume |
$21.24 | $21.34 | $21.08 | $35.15M | 1.653M |
Buyers (Bids)
No. | Vol. | Price($) |
---|---|---|
2 | 2039 | $21.31 |
Sellers (Offers)
Price($) | Vol. | No. |
---|---|---|
$21.33 | 3526 | 1 |
View Market Depth
No. | Vol. | Price($) |
---|---|---|
1 | 2000 | 21.310 |
2 | 1071 | 21.240 |
1 | 12362 | 21.220 |
3 | 2422 | 21.210 |
1 | 2718 | 21.200 |
Price($) | Vol. | No. |
---|---|---|
21.330 | 3526 | 1 |
21.340 | 4672 | 3 |
21.350 | 4995 | 2 |
21.370 | 6066 | 3 |
21.390 | 4995 | 1 |
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