RE:RE:Fiscal 3rd QuarterAlgoma's inventory went down by $274M over the last 2 quarters, likely had to do with decreased shipments as much as anything. That's nowhere close to the $892M drop in cash over the same period.
I get a kick out of those who get excited about hot rolled coil futures being just over $800.
In the last 6 months of 2021, those same futures averaged over $1,700 (& futures continued at a high level for the 1st half of 2022)
Algoma's average is higher as they also produce plate & cold rolled products.
In calender 4th Q, their average prices went down by 38.9% while costs went up by 22.3%
Was hoping to get back in but Algoma has quickly gone from undervalued to over valued. If you're in it for the long term (6 to 10 years), you will likely do fine. From my perspective, there are a number of high dividend stocks (with room for growth) that are a much better (shorter term) investment.