Have bought OST options as I think its bottomed out and is starting to head up. News have affected the speed of the rise but I think that it was going to head up anyway.
Any comments?
:bong:
GreatPig
10th-January-2005, 08:51 PM
Looking at the chart it certainly appears to be heading up, but then compare it to the circled area of late 2003 - a very similar price move followed by a further fall.
So who knows where it will go.
Cheers,
GP
RichKid
11th-January-2005, 12:12 AM
Yes GP, interesting move there last year, so if this falls it'll go sideways before regaining the uptrend (sp may have got ahead of the trend here), or it may join the general trend directly since the furnace problems are over now. Everyone's taken their eyes off OST and looked to Bluescope instead. OST just closed that recent down gap fast so it may take a breather in a bit and consolidate again, let's see...
silent knight
11th-January-2005, 01:02 PM
GP you've made a very interesting point. :) On your chart, however, note that the rise previously that you circled was on small volume.The rise in OST over the last three days has been on increasing volume. As I hold OST I'll be watching the volume after reading your post.
RichKid
11th-January-2005, 01:18 PM
Volume will have to increase significantly imo for this to be a convincing run but I do think the current run is to continue, it may pause at minor resistance along the way, the short term trend is still strong, I hold OST btw. Nothing to get excited about till it rejoins the long term trend (level prior to furnace problemes). Once they announce an increase in prices sometime this year there will be another rise, also div due before long and resources are in favour with the market as a lot of other sectors are approaching full value. Let's see what this week brings for OST's technicals.
RichKid
19th-January-2005, 10:58 AM
Nice run so far, hitting resistance around 2.85, doji yesterday but nice volume. I expect a brief retreat and than the gap will be taken out. 10c at a time in my opinion and then we'll see what the market really thinks at $3.10.
Also note that OST and a few other Aussie co's are tendering for work after the Tsunami, it's been in the news. We've given $1b dollars and a lot of that will be claimed by Aussie co's. We're like the yanks in Iraq (except we didn't cause the chaos and we aren't into starting wars to make money), we give aid money but our local co's gobble it up so it returns to Australia in someway. Might be an unexpected positive for the stockmarket this year.
rozella
19th-January-2005, 11:14 AM
Profit report is expected early February......its on my buy list for today ??
rozella
RichKid
19th-January-2005, 11:28 AM
Profit report is expected early February......its on my buy list for today ??
rozella
This is not a tip but I am waiting to see if todays candle confirms a reversal in trend (short term imo). So it may go a bit lower, I was a bit surprised at the steep rise last week but it was closing gaps so it's understandable. Once it breaks 2.85 it'll jump quick. As for the profit report it looks like the market marked it down too much (went to 2.38 or so), maybe OST can surprise and if there are price increases included then it'll certainly help.
DTM
19th-January-2005, 11:33 AM
I got out yesterday at 2.83 although in hindsight it may have been too early.
:(
RichKid
19th-January-2005, 11:55 AM
I got out yesterday at 2.83 although in hindsight it may have been too early.
:(
Hi DTM,
You said earlier that you bought options- do you mean you sold the options when OST hit 2.83? Were they ETOs? I think there may be a bit more of a pullback so you may be able to get in again. It's the next gap up that'll see this one fly quick imo.
DTM
19th-January-2005, 12:33 PM
Hi Rich
They were January 1.75 call options bought when it was $1.71 Monday last week and sold with 40% profit. I could have sold at 50% profit but decided not to hang around as XAO was turning around at that point.
I will look for the retracement and hopefully re-enter at a good price.
Thanks for the tip ;)
RichKid
3rd-February-2005, 12:24 PM
Looks like OST has managed to stay above 2.70 but can't seem to close that gap yet, still clawing it's way to the next level at 2.90. chart looks like the tough side of a mountain climb, very jagged, lots more work to be done by OST to rejoin the longterm trend. Current short term uptrend still holding. But it could retrace to below 2.70. My opinion is that with reporting season on us, with strong demand still continuing and with a bouyant resources market OST should be ok. Let's see what they announce- that'll have a big impact, especially the product price rises.
RichKid
17th-February-2005, 12:03 PM
Profit result from New Zealand subsidiary announced, very positive and positive view on earnings for next half too for NZ operations:
Any other holders have any news, still sideways for OST. Maybe waiting to see what effect the furnace problems had on earnings, I think OST will surprise.
RichKid
22nd-February-2005, 10:11 AM
OST has opened strongly on profit annct. As mentioned earlier I'm still looking for a multi-day close on volume above 2.90 to signal that this sideways movement is over. Various brokers have price targets above $3.
My dial up connection is too slow to download the report. Could someone tell me what the dividend is and when it goes ex-dividend. I bought in months ago when it was $3.15 and am still holding. Thanks.
RodC
22nd-February-2005, 03:05 PM
6 cents fully franked to be paid 21st April.
The record date is March 18.
Rod.
rozella
22nd-February-2005, 03:13 PM
The 14th March is a non-settlement day, so exdiv is on 11th March.
rozella
sam21poddy
22nd-February-2005, 03:27 PM
Thanks for the info. With only a 6c dividend I can't see it running up enough for me to recover my costs but 6c is better than nothing.
emily
22nd-February-2005, 04:25 PM
I think this ones going for $3, the continuously demand of steel by china makes OST still strong. i would hold this one
emily
RichKid
22nd-February-2005, 04:34 PM
OST also has its own iron ore operations so it wont be affected as much by iron ore price hikes, gives it a competetive advantage. OST is also considering a raw materials surcharge in line with other steel co's (eg BSL). Now that the profit annct is out of the way I can't see why this wont start motoring towards $3. The furnace is supposed to be stable and no further problems are expected.
Only bad news is that ramp up of Magnetite operation has been put off for 12 month to next year due to increasing costs.
RichKid
22nd-February-2005, 06:45 PM
OST also has its own iron ore operations so it wont be affected as much by iron ore price hikes, gives it a competetive advantage. OST is also considering a raw materials surcharge in line with other steel co's (eg BSL).
Just read another article on comments by outgoing boss Dr Every, I got it wrong, they don't expect to raise prices (like BSL for example) as iron ore prices don't affect OST as OST own their own supply, hence may end up having an advantage over other steel co's in pricing. This appears to be the only steel co with quality mgmt and operations (unlike SSX) that has not been ramped up by the market. http://www.smh.com.au/news/Business/Steel-iron-ore-boosts-OneSteels/2005/02/22/1109046910664.html
RichKid
28th-February-2005, 01:41 PM
An article on iron ore price rise and steel profit margins, looks like Onesteel will benefit as it has its own iron ore and could even raise prices if required. The longer it ranges in this price channel the stronger the breakout imo.
I'm inclined to see this as a diamond pattern now, either reversal (in which case it will break strongly towards 2.50, assuming it breaks from around current level) or it'll break to the upside and continue beyond $3. Overall direction is up so that's where I think it'll go. Volume is steady but it really is struggling to breach 2.80, the close above 2.90 is what I'm waiting for to have more confidence in this one. The ex-div date will see some predictable weakness so things may get rough in the next few weeks.
Any other OST watchers/holders have any views? I think the iron ore price hikes have scared the market despite the fact that OST has it's own iron ore mine- a real competetive advantage in this climate. Once the new CEO takes over mid year I think we'll see this one start to really motor up.
RichKid
11th-March-2005, 10:49 AM
Big ex-div drop in OST today, around mid 60s now, next support is at 2.60 if it breaks 2.65 imo. Let's see how this ends, may be another weak day on Monday.
RichKid
21st-March-2005, 10:16 PM
Long term chart (complete history) to put things in perspective. I expect it to wander around the central axis (no line drawn) of the spiral channel. Spikes above channel top boundary are not supported by volume, may be good times to sell in future to make that extra bit of profit. Still need to see another six months (or 12mths) of price action to be sure of the exact trend, will have to go on existing data for now. Worst case scenario atm is bouncing off lower trend support (channel). A few top reversal patterns recently. Gaps to be closed in the next few weeks.
RichKid
21st-December-2005, 05:55 PM
OST seems to have established support after that recent pivot ("spring"?) as it moves higher into that recent range. So have we seen the end of the correction/retracement? I think we have but I'm watching to see if it respects the recent lows. The lows coincided approximately with previous highs (eg see the peak in the chart immediately before this post).
Nick Radge
5th-March-2006, 10:36 AM
Here is some analysis on OST.
The chart will take a few seconds to download. If the commentary starts beforehand, simply wait for the chart to appear, select STOP, then PLAY.
www.projectstreamer.com/users/reefcap/OST_weekly/
Nick
This post may contain advice that has been prepared by Reef Capital Coaching ABN 24 092 309 978 (“RCC”) and is general advice and does not take account of your objectives, financial situation or needs. Before acting on this general advice you should therefore consider the appropriateness of the advice having regard to your situation. We recommend you obtain financial, legal and taxation advice before making any financial investment decision.
Past performance is not a reliable indication of future performance. This material has been prepared based on information believed to be accurate at the time of publication. Subsequent changes in circumstances may occur at any time and may impact the accuracy of the information.
BraceFace
5th-March-2006, 11:46 AM
Nice analysis Nick, I'll be watching this one with interest over the next few weeks.
GreatPig
4th-May-2006, 08:58 PM
Looks like a head and shoulders here. Downside target around $3.40 by my reckoning.
Cheers,
GP
MARKETWAVES
8th-May-2006, 02:33 PM
4 CHARTS ----
PROBABLE ELLIOTT WAVE COUNT........ SUPPORT AT $3.20 Can it hold ?
--------------------------------------------------------------
TRADE AT YOUR OWN RISK… The purpose of these charts is to point out significant highs and lows based on Fibonacci Retracement lines and Elliott Waves which are highly subjective. This information is for educational purposes and should not be considered trading recommendations. All trading decisions are your own sole responsibility …
MARKETWAVES
8th-May-2006, 02:37 PM
pg-2.........................
MARKETWAVES
8th-May-2006, 02:39 PM
Pg-3-----------------
Low Stochastics ------
Fridays close made a Tweezer Bottom Candle Stick formation...
MARKETWAVES
8th-May-2006, 02:48 PM
pg-4 .........................
Looking for that break above $4.10
-------------------------------------------------------------------
RichKid
8th-May-2006, 03:14 PM
4 CHARTS ----
PROBABLE ELLIOTT WAVE COUNT........ SUPPORT AT $3.20 Can it hold ?
--------------------------------------------------------------
TRADE AT YOUR OWN RISK… The purpose of these charts is to point out significant highs and lows based on Fibonacci Retracement lines and Elliott Waves which are highly subjective. This information is for educational purposes and should not be considered trading recommendations. All trading decisions are your own sole responsibility …
Thanks for the great charts MW, always appreciated, not many EW people on this site. That's a bit of a messy chart- price action isn't as smooth as it could be. Thanks for the various takes on the count. OST has had a strong day today but it needs to keep going on higher volume to breach that 4.10 level you speak of, then come the all time highs. Just above $4 atm.
MARKETWAVES
9th-May-2006, 05:55 AM
Well , its now
3;00pm US local east coast time
OST HAS HELD UP NICELY -out of this Tweezer Bottom Formation Candlestick Formation .
The outllook here is still for a brake above 4.10 - - -
OST HAS HELD UP NICELY -out of this Tweezer Bottom Formation Candlestick Formation .
The outllook here is still for a brake above 4.10 - - -
-------------------------------------------------------------------------
OST did break above it but failed to hold, still relatively positive but it'll need to get a move on instead of ranging or I'd be inclined to think it's run out of puff, looking toppish imo.
RichKid
25th-May-2006, 02:44 PM
Looking toppish to me, sellers in numbers imho, volume declined on this last leg and then a blow-off top. Two possible views of OST below, I think the more bearish view has better proportions...so a major Wave 2 unfolding? It may retrace to below $3 to maintain proportions, maybe a spike low or something??. The last two months of price action has been hard for me to figure out, just a learning exercise atm.
RichKid
31st-May-2006, 12:31 AM
Just started using www.Egoli.com.au ProCharts as it has fibonacci tools. Here's the result, a monthly chart.
OneSteel could forge world presence
VISION 2010
March 17, 2007
ONESTEEL is at the crossroads. Its future for the next five to 10 years will be decided next week by the ACCC, when it adjudicates on the proposed merger with Smorgon Steel.
If the ACCC rejects the merger (and there is no successful appeal), OneSteel will still enjoy a big rise in profits in the next two years as a result of its iron ore developments in South Australia.
But after that it will need to do something radical to develop a growth path and may find it harder to cope with the low carbon emissions environment likely to dominate long-term strategies in the world steel industry in the coming decade.
There will be great institutional pressure on the company to enjoy its strong cash generation rather than embark on high-growth strategies.
But if the merger is approved (and the odds are it will, particularly as the ACCC has already approved the merger of the companies' pipe and tube operations), OneSteel will acquire a suite of growth options that have been built up by Smorgon chief executive Ray Horsburgh.
Whereas Smorgon, with its big family stake, would be tested if it tried to fully pursue all its growth plans, the combined OneSteel/Smorgon balance sheet has the size to go much further and can raise equity if required.
However, next week's ACCC decision may not totally settle the issue. Apart from the question of appeal, BlueScope, which owns 19.9 per cent of Smorgon, could still play hard ball. BlueScope makes flat steel products whereas OneSteel and Smorgon make long products mainly used in the building industry.
BlueScope refused to approve the original merger proposal because it was unhappy with the arrangements for the OneSteel and Smorgon steel distribution businesses. The current plan is to merge all the assets of the two companies, excluding the Smorgon distribution business, which will remain in the Smorgon listed public company. Smorgon shareholders will receive OneSteel shares for their non-distribution assets.
Under this plan, only a simple shareholder majority is required to approve the deal, so whereas BlueScope had the power to block a full merger, the Smorgon family stake in Smorgon will ensure shareholder approval. OneSteel's latest half-yearly earnings equalled an annual profit rate of around $196 million or 34.5c per share. But within two years the decision to enter the iron ore export trade, which also improves the economics of the Whyalla steel plant, is expected by analysts to increase earnings to around $260 million - 45c per share on capital before any Smorgon merger.
The Smorgon merger will not boost earnings per share in the first year because of implementation costs, but OneSteel chief executive Geoff Plummer expects to achieve net synergies - after market share loss - of around $70 million, which could translate into a further $50 million profit increase in two years.
The main reasons for the expected merger profit rise is a reduction of head office costs, the ability to close one or two plants and the economies in the supply chain which will stop the Hume Highway being flooded with OneSteel and Smorgon trucks carrying steel in opposite directions.
Smorgon and OneSteel say that although they will be the only Australian producer of long steel products, imports have 20 to 30 per cent of the market and there is no meaningful tariff protection.
If the merged company lifted prices substantially above world levels, imports would pour in, although the local company's ability to supply when the customer wants the product is a clear advantage. At this stage, global steel demand and supply are about in balance, but if there was an Asian downturn and China and other Asian countries had substantial excess steel capacities, then the Australian market could be flooded with low-priced steel.
But while that is a potential threat, the success or failure of the merger in the long term will depend on what OneSteel CEO Plummer and his people do with the Smorgon growth options, which go to the heart of future world steel development.
The world steel industry is in the front line in the global warming issue and the Australian government that wins the next election will be under pressure to act, but Plummer says: "There is no point in Australia doing things unilaterally. If all you do is tax the Australian supplier, you won't change the total demand. All you will do is shift the problem offshore."
On the other hand, if there are world global carbon measures, which affect most industries, then all steel producers will suffer, with the danger of a significant world downturn.
But, in Plummer's words, if any global carbon tax "is introduced in an orderly way", then OneSteel, being more energy efficient than most of its Asian rivals, should be better placed while the ability to recycle scrap steel will become more important. Here Smorgon is a potential world leader.
Some 30 per cent of Smorgon's sales are in Asia, mainly reflecting its scrap exports from Australia, but the company recently bought into recycling in Thailand and has begun recycling on the west coast of the US.
In a greenhouse-affected world both US and Asian steel recycling will require substantial capital investment.
The merger is not completed, so Plummer is cautious and says that while he needs to better understand the Smorgon recycling operation, the greenhouse issues mean that world recycling "will be a stronger business, so I think it would be one we would want to invest in".
Plummer says that while Smorgon is small in America at the moment, US recycling "is an area where there is going to be significant amount of change and consolidation. That creates opportunities".
Plummer is a potential buyer in the US consolidation, not a seller.
Smorgon technology has also developed a light steel beam that will increase the penetration of steel in home and other building markets.
Smorgon has established a plant in the US and others are expected in Asia.
This will be another major international growth option.
It is paradoxical that over the last four years Smorgon's greatest weakness has been that its steel was based on recycled scrap rather than iron ore.
Steel makers such as OneSteel, with their own iron ore, had a huge advantage.
But depending on technological developments and what actually happens in response to greenhouse, in the long term recycling may prove to be more economical than the carbon-based conventional steel making.
OneSteel has the opportunity to buy Smorgon because the disparate Smorgon family are no longer a cohesive unit and many family members want to sell. And because it is on the exchange, Smorgon shareholders can participate in their growth options, with the backing of a stronger company. Individual Smorgon family members will be able to sell their OneSteel shares, whereas any Smorgon family selling of Smorgon Steel sent the stock spiralling down.
The global steel industry is undergoing fundamental change with steel makers becoming more regional and more market driven. Nevertheless, China, as the powerhouse in the Asian region, will have a big influence on the future of smaller regional companies like OneSteel.
Plummer says: "I think the Chinese advantage is not one of cheap labour. It's actually cheap capital and, for a centrally controlled economy, it's actually surprisingly bureaucracy free, if you're Chinese and you know how to work the bureaucracy."
While the Chinese have access to cheap capital and little regulation, Plummer points out that Australian capital and regulation are much more complex.
On capital he says: "What I've learnt is that I can't please all of the investment community. There's some people who want high dividends. There's some people who don't want cash back. They want it reinvested in high growth. There's some people who like to have diversified businesses to spread risk. There's some people who want to have businesses that are extremely focused.
"What I think we've got to do as management is make sure we're clear about what is our value proposition to the investment community and we've got to stick to that and then deliver it.
"We can't try and please all of the investment community."
In some ways, Australian regulation is more difficult than China. For example, OneSteel tried to introduce a national safety program but found that it had to be adapted for every state.
"It's to do with bureaucracy and not whether it is a better system," Plummer says.
"We really pride ourselves on our safety performance and how well we go. But we have to change it in each state. Well-intentioned governments try to encourage green building codes in areas where it is actually questionable whether it achieves the intended purpose."
And then, to top it off, the Australian tax office pursues large companies, often without logic. For example, Plummer points out that the tax office is trying to fine OneSteel over the way it treated GST, even though the treatment the company used in good faith did not cost the tax office a cent.
In competing in Australia, OneSteel has the home ground advantage and produces end products like reinforced mesh, which it can supply to builders at a specified time much more easily than importers. But, on the global market, Australian companies really suffer, if their home business is forced to divert time and money to either conflicting regulations between states or mindless games played by bureaucrats in Canberra.
Nevertheless, a combined Smorgon/OneSteel company has an opportunity both in Australia and on the world stage which few other Australian manufacturers could contemplate.
nomore4s
29th-May-2007, 10:43 PM
I have been looking for this thread for a while:banghead:, am unsure why I couldn't find it:confused:
Have been on this ride since Nov 06 @ $4.20. am a bit surprised no one else seems interested in it considering its run.
Broke out of the longer term channel(green) in April, but drooped through the blue support line last week but had a good recovery today, will be interesting to see if it is a bounce or whether it will hold at around the $6.50 mark. Seems to be higher volume this month as well.
noirua
29th-May-2007, 11:03 PM
I have been looking for this thread for a while:banghead:, am unsure why I couldn't find it:confused:
Have been on this ride since Nov 06 @ $4.20. am a bit surprised no one else seems interested in it considering its run.
Broke out of the longer term channel(green) in April, but drooped through the blue support line last week but had a good recovery today, will be interesting to see if it is a bounce or whether it will hold at around the $6.50 mark. Seems to be higher volume this month as well.
That chart certainly looks as if OST have jumped on an escalator. Added a few with tipsters going for it.
Portman Mining were brought in a few years ago to sell iron ore pellets from Whyalla and may be part of this drive forward.
nomore4s
21st-June-2007, 10:35 PM
Good day today with very high vol and closing on its high.
OST looks to be forming a ascending triangle after being in a bit of a trading channel between about $6.30 and $6.75. May have even broken up out of the micro triangle but needs to break & hold above $6.75 to really confirm the break out of the channel, above $6.80 would be better of course.
kangaroo19
6th-August-2007, 10:52 AM
Are there any holders of smorgon steel shares out there? Just wondering as to what is happening with our shares, and when do we get allocated the one steel shares? At the moment, i have nothing in my commsec account!
Cheers
nomore4s
6th-August-2007, 11:09 AM
Are there any holders of smorgon steel shares out there? Just wondering as to what is happening with our shares, and when do we get allocated the one steel shares? At the moment, i have nothing in my commsec account!
Cheers
Here you go Kangaroo, I vaguely remember that there was something in the scheme booklet (I know I read it somewhere) in regard to selling the coverted OST shares on a pro rata basis (not sure if that's the right terminonlogy:confused:), maybe ring SSX or OST for clarafication, I sold out of my SSX on Thursday. Good luck.
RELEASE
3 August 2007
Smorgon Steel Group Limited
SUSPENSION FROM OFFICIAL QUOTATION
The securities of Smorgon Steel Group Limited (the “Company”) will be suspended from
quotation at the close of trading on Friday, 3 August 2007 following lodgement of the
Court order approving the merger of the Company and OneSteel Limited.
For further information in relation to the merger please refer to the Company’s scheme
booklet released to ASX on 22 June 2007 and its recent announcements.
Security Code: SSX
James Gerraty
MANAGER ISSUERS, MELBOURNE
Bruza
18th-December-2007, 08:56 AM
Hi all,
Newbie here & fairly new to investing in shares.
Wondering how you guys are feeling about OST. I bought a small parcel in September, & again early last month (Wrongly thinking they had gone down & it would be a good time to buy more)
I am in mainly blue chips with a long term outlook, so I know I have to suffer some downturns on the ride, but ost seems to be just going down, with no positive news that I can find.
Any comments will be appreciated.
Real1ty
18th-December-2007, 09:37 AM
Hi all,
Newbie here & fairly new to investing in shares.
Wondering how you guys are feeling about OST. I bought a small parcel in September, & again early last month (Wrongly thinking they had gone down & it would be a good time to buy more)
I am in mainly blue chips with a long term outlook, so I know I have to suffer some downturns on the ride, but ost seems to be just going down, with no positive news that I can find.
Any comments will be appreciated.
Bruza
I really like OST but i think you will find that they are moving down with everything else in the market atm.
IF we were in clearer times and i had a more positive outlook on the Aus market, i would definitely buy OST shares.
One thing to remember with them is their earnings will be far higher in the second half of the year.
The Smorgan merger was a fantastic move imo and with them now being one of the few steel producers that actually have their own iron ore supply, not too mention exporting iron ore, they should also benefit from the new negotiated ore prices, once they are settled.
The synergies from the Smorgan merger is already above what they estimated and also now with the dropping of a lot of imported steel, they should benefit there also.
I believe you have a very good stock there and i will be a shareholder with you also, i'm just not sure when.
Dutchy3
13th-August-2008, 08:02 PM
Took a short in this one today ... could it be that the mining dream has passed through REM sleep and a bit of reality now feeds to associated/downstream stocks?
mark_au
21st-January-2009, 12:40 PM
Hi Guys
I have a small holding of OST, They seem to be a well managed company.. though they have taken a hit in the current market along with everyone else.
As the world economy slows it seems that there is less demand for iron/coal/steel etc However to what extent do you all think this is balanced against the ramping up of local infrastructure projects, many of which will require steel /reo mesh etc etc. My gut feeling is that OST could trundle along quite nicely with the infrastructure projects being brought forward..(Unless thats already factored into the price)??
Thoughts???
.
noirua
7th-April-2010, 12:27 PM
Just purchased some shares at $4.12 on 'The Bulls' thoughts of a takeover and the sudden recovery in the sector. Coal prices have risen and this is a negative, but iron ore sales and the recent purchase of a scrap steel plant all look good for OST.
noirua
3rd-June-2010, 07:49 AM
The weakness in the sector and fire at Whyalla certainly decked OST. Down from above $4 to around $3 it's going to take a bit of a convalescence for OneSteel to recover.
I bought in completely wrongly and bought more stock last Friday and will sit and wait. Not sure OST has the heart to recover that much in the short term - needs a big sector rally and a takeover rumour, well, or two.
skc
3rd-June-2010, 09:23 AM
The weakness in the sector and fire at Whyalla certainly decked OST. Down from above $4 to around $3 it's going to take a bit of a convalescence for OneSteel to recover.
I bought in completely wrongly and bought more stock last Friday and will sit and wait. Not sure OST has the heart to recover that much in the short term - needs a big sector rally and a takeover rumour, well, or two.
Quite a few negative reports out there on Whyalla's future thanks to the RPST
At least OneSteel have fixed their furnace at Whyalla and now the negatives are only on the 'Henry Super-tax bombshell'. OST with producing mines will be hit at the iron ore face - 'Shame on you Henry'.
http://www.thebull.com.au/articles/a/12068-onesteel-furnace-working-normally.html
noirua
9th-September-2010, 01:47 AM
OneSteel have slumped from over $4 that started with the Whyalla furnace fire. Low steel prices weighed on OST but iron ore sales bailed them out of trouble. On a yield of 3.8% with iron ore prices holding up - sure enough BHP did agree a slightly lower price with the Chinese - it looks as if OneSteel will achieve a better result to 2011.
Downside looks minimal as we look to the next quarters figures, one to look at in the ASX100.
ocsum
29th-November-2010, 12:04 PM
I bought OST shares back in 07,which I though were a real goer,being new and naive (still am)and have now seen them slum dovn to $2.50.
Now looking to sell and try to recoup some money back in a more postive moving stock.
Trader Paul
29th-November-2010, 12:59 PM
:)
Hi folks,
OST ... from the highs in April 2010, the price slide has been relentless,
but technically, we are now seeing signs of a bottom forming, with the
slide since mid-November continuuing on reducing volumes.
Looking ahead, our astroanalysis will have us alert for a positive
time cycle, that should bring a positive spotlight squarely onto OST,
expected around 03-06122010 ... :)
have a great day
paul
:)
=====
Jgr64
27th-February-2011, 05:24 PM
I wonder whether the masive rebuilding programs from the floods in Queensland (and to a lesser degree the earthquake in Christchurch) might translate into a positive year for One Steel ?
If its bottomed out from its slide since April 2010, is now the time to jump in ?
nulla nulla
27th-February-2011, 05:38 PM
Inside Business (ABC 24) 5:30pm 27-02-2011. The Australian Steel industry isn't looking good going forward.
marioland
8th-November-2011, 01:36 PM
OST continues to focus on cash generation and improving returns while investing for growth. Operations are vertically integrated with a focus on cost control, cash generation, improving working capital management and improving business performance.
Trading at .94c with 5.38 P/E and a 10.5% dividend yield it's a good bargain to be had at the moment.
Chasero
8th-November-2011, 01:54 PM
OST continues to focus on cash generation and improving returns while investing for growth. Operations are vertically integrated with a focus on cost control, cash generation, improving working capital management and improving business performance.
Trading at .94c with 5.38 P/E and a 10.5% dividend yield it's a good bargain to be had at the moment.
I wouldn't touch a stock that's been downtrending for years but I agree, at 0.94c it is a bargain.
Long term holders must be spewing tho
skc
8th-November-2011, 03:08 PM
OST continues to focus on cash generation and improving returns while investing for growth. Operations are vertically integrated with a focus on cost control, cash generation, improving working capital management and improving business performance.
Trading at .94c with 5.38 P/E and a 10.5% dividend yield it's a good bargain to be had at the moment.
Where's that PE figure from? They issued earnings update last week for H1 NPAT $55-75m. If one was to double that figure for full year it's ~8.2 to 11.2 cps. At 94c the forward PE is no where near 5.4.
marioland
8th-November-2011, 03:57 PM
Where's that PE figure from? They issued earnings update last week for H1 NPAT $55-75m. If one was to double that figure for full year it's ~8.2 to 11.2 cps. At 94c the forward PE is no where near 5.4.
Sorry, it was P/E Ratio from Bell Direct website.
McLovin
9th-November-2011, 10:55 AM
Sorry, it was P/E Ratio from Bell Direct website.
It's the historic p/e ratio.
noirua
14th-November-2011, 10:38 PM
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.
brty
22nd-November-2011, 05:55 PM
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.
