I'm happy the price is down so low, given they are buying back shares. I believe they plan to buy 10M in total? At 42c rather than 52c there's a saving of $1M. Let's not blow it on undeserved bonuses Chris!
The negative sentiment is probably due to the the Federal Government paring back its ITC spend.....all for the sake of Political capital, rather then economic sense.
I'm happy with the last 6 months (less so with the previous 24). I think they've done the right thing. That Field Services business was a millstone.
Low prices are the norm currently. Has little to do with economic reality and much to do with fear. I expect it will continue for some time.
Having said that, I'm sure the recovery will be 6 months old by the time it becomes evident to most people.
The bloke in Omaha has been in a buying frenzy the last 4 months. He'll win again, in the longer term, and all the doom-sayers will likely miss the boat.
UXC Price at posting:
42.5¢ Sentiment: Hold Disclosure: Held
