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Tenaris ADR Rep 2 Ord Shs T.TS.B


Primary Symbol: TS

Tenaris S.A. is a holding company, which is a steel producer with production facilities in Mexico, Argentina, Colombia, United States and Guatemala. The Company supplies round steel bars and flat steel products for its pipes business. It operates through Tubes business segment. The Tubes segment includes the production and sale of both seamless and welded steel tubular products, and related services primarily for the oil and gas industry, principally oil country tubular goods (OCTG) used in drilling operations, and for other industrial applications with production processes that include in the transformation of steel into tubular products. It operates in geographical areas, such as North America, South America, Europe, Middle East and Africa, and Asia Pacific. Its products and services include OCTG, Premium Connections, Rig Direct, Offshore Line Pipe, Onshore Line Pipe, Hydrocarbon Processing, Power Generation, Sucker Rods, Coiled Tubing, Industrial and Mechanical, and Automotive.


NYSE:TS - Post by User

Post by DonPlata33on Feb 03, 2020 9:04am
215 Views
Post# 30633392

Hamilton property sold for 25,5 million!

Hamilton property sold for 25,5 million!Hi guys,

The valuation of this company is beyond insane! The market cap at $ 0.40 is 32.5 million. Just as a reminder:
Torstar is completely debt free (even free of pension liabilities through the CAAT merger) and had 52 million in cash, 27 million in tax credit receivables (presumably converted in cash in the first half of 2020) as of the end of Q3 2019 and now 25.5 million through the sale of the Hamilton property in Q1. Just with a short back of the envelope calculation, this makes a total of about 105 million! Besides a negative cash flow situation and without valuing the other holdings (VerticalScope; Blue Ant etc.) this valuation doesn't make any sense, I'm speechless. The Voting Trust structure and this management/Board are holding this company and its shareholders down. They represent a huge negative present value compared to a company in the same situation, but with voting shares traded publicly.
25.5 million for the Hamilton property is a very good price and way above my own estimate!
Normally the stock should explode today! But what is normal with this company....

All the best and keep the faith,

Don
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