Made a floor at 37 Don't think they really want to buy any shares back with modified Dutch auction. I don't blame them. Last time they bought back stock was around 45 or so and now 37 so clearly it didn't work. That was back in august so good 5 months has passed. Dividend increase would help but not much. Look where Russell metals yield is (I own that one also) you could bump up dividend and yield will move from 3 to 5.
I think bottom line is where one thinks steel market headed in next few years. To me looks very bullish and forward ebitda and earnings for Stelco look great with both trading under one. The only variable than is time. As time marches on the stock price will move towards where it should trade. Under 1 for future P/E ratio or ebitda ratio is not sustainable long term.