RE: Pretty PictureSeems obvious;
companies that buy back their shares are viewed positively
Companies who are sitting on a lot of cash have been in favour for a long time and will remain in favour as long as 'cash is king'. The cash component is over $5 per share; meaning the rest of the company is valued at $3 per share?!!!
The Lundin deal was a slimy bit of business that the old board tried to push through against shareholder's support. Luckily it ended well with a $100 million dollar profit to HBM.
The stock has been lagging so it has some ground to make up and therefore has potential to move up rather than down.
At $8 it's a steal; below $8 it's a screaming buy. I'm betting we'll see $10 before we see $7.