I have been a long term investor in this mining stock and have added to my position twice in the last 3 years.  They mine iron ore in North America (Great Lakes and out west) and are expanding partnerships globally (Australia and South America).  They have been taking a hit lately like many other mining stocks.

 

They are debt free with a very low PE. I believe they are becoming undervalued.  I recently read a newspaper article that suggested they may be a ripe target for a takover by one of the bigger players in the iron ore space down the road. 

 

I am again this week adding to my previously obtained number of shares on this premise.  A slowing economy may have some impact on steel production needs in the US?  The article suggested their planned ore sales in the US will be stable well into next year.

 

Happy stock hunting!

 

Kutz