OST - OneSteel Limited
- Thread starter DTM
- Start date
-
- Tags
- onesteel onesteel limited ost
- Joined
- 2 June 2011
- Posts
- 5,341
- Reactions
- 242
- Joined
- 2 February 2006
- Posts
- 14,009
- Reactions
- 2,891
Once called a dog -- legal action by dogs upset by the comments have caused OneSteel to be known as 'parc', politely reversed.
OneSteel have done badly on the steel side in recent years but a lot better on the iron ore sales side, however, they paid an untimely high price for WPG's South Australian iron ore areas at Hawks Nest and Peculiar Knob.[these assets were once available from Felix Resources for not much but OST declined to take an interest 4 years ago - unfortunate]
Still OST at $1 are probably worth a punt on a possible steel and iron ore price revival.
OneSteel have done badly on the steel side in recent years but a lot better on the iron ore sales side, however, they paid an untimely high price for WPG's South Australian iron ore areas at Hawks Nest and Peculiar Knob.[these assets were once available from Felix Resources for not much but OST declined to take an interest 4 years ago - unfortunate]
Still OST at $1 are probably worth a punt on a possible steel and iron ore price revival.
- Joined
- 5 March 2008
- Posts
- 951
- Reactions
- 141
Apart from this being a dog, it is at it's equal lowest price of 82c which was achieved in Nov 2000 and March 2001. The only lower price recorded was on the very first day of trading in Oct 2000, when it went as low as 75c, but ended up closing at 98c (these prices allow for any stock splits on an adjusted basis).
With EPS, cashflow/s and divs/s at about double the 2001 level, allowing for the expected downgrade in earnings, this is now fairly priced. I would expect it to stabilise at around this price on a fundamental basis.
On a technical basis, the thought of touching things and barge poles comes to mind. However if there was a general market pullback that took this down to ~60c, I could be very tempted.
brty
With EPS, cashflow/s and divs/s at about double the 2001 level, allowing for the expected downgrade in earnings, this is now fairly priced. I would expect it to stabilise at around this price on a fundamental basis.
On a technical basis, the thought of touching things and barge poles comes to mind. However if there was a general market pullback that took this down to ~60c, I could be very tempted.
brty
- Joined
- 2 June 2011
- Posts
- 5,341
- Reactions
- 242
Dare I say this thing might actually be showing some value. Underlying profit of $130m for the half.
tech/a
No Ordinary Duck
- Joined
- 14 October 2004
- Posts
- 20,400
- Reactions
- 6,317
Nice pick up.
Just bought this on 13/3 at $1.11c
Stop just below B/E
Hasn't had much following.
Technically awakening and low risk trade was
too hard to resist. Going well.
CLICK TO EXPAND
- Joined
- 1 October 2008
- Posts
- 3,733
- Reactions
- 391
It certainly blew out on Friday which was quite a surprise.
I have been following it closely however I was concerned about the high volume selling on the 29th of Feb after it's resurrection, that made me doubt it would blow out as it did on Friday
Must have put too much weight in that day!!
What was the thinking that got you in at 1.11
I'm supposing you watched it hang above that resistance for a few days, after the big sell day, figured the sellers were not still coming in hard and took a shot on a following dip?
Thanks Techa
I have been following it closely however I was concerned about the high volume selling on the 29th of Feb after it's resurrection, that made me doubt it would blow out as it did on Friday
Must have put too much weight in that day!!
What was the thinking that got you in at 1.11
I'm supposing you watched it hang above that resistance for a few days, after the big sell day, figured the sellers were not still coming in hard and took a shot on a following dip?
Thanks Techa
surprised this one hasnt been discussed for awhile. Seems to have turned a corner since bottoming out in jan which the sp has now doubled and trending upwards nicely. I took a punt on them at $1 on the back of a TA recommendation for a $1.5 target although the expected timeframe for that was like a week and its been a few now.
- Joined
- 2 February 2006
- Posts
- 14,009
- Reactions
- 2,891
OST should see recent lower thermal coal prices as advantageous as well as reports of firming steel prices. Now going for iron ore at the massive reserves at Hawks Nest, SA.
