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.
Could be a number of things..Someone posted the other day that...
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Last
$20.51 |
Change
0.350(1.74%) |
Mkt cap ! $9.025B | |||
| Open | High | Low | Value | Volume |
| $20.15 | $20.62 | $20.08 | $24.72M | 1.207M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 4 | 19859 | $20.50 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $20.52 | 2656 | 1 |
View Market Depth
| Last trade - 16.10pm 05/07/2024 (20 minute delay) ? |
| BSL (ASX) Chart |