Modern Shovel Maker w Deep value?So, what's the deal here?
Solar has a very positive outlook, this company supplies the raw materials for Chinese companies.
2.7b market cap
3.2b CASH (most generated in 2022 2.4b) ... in total $41/share of cash
no debt
buying back another 10% of float this year and would expect that to continue yoy (this year was a 700m buyback plan for approx 20% of float) as they have said they will continue to buy back shares if they feel they are undervalued.
Geopolitical and Single market risk: China.
New suppliers coming online increased competition reduced Avg Sell Price by 50% (but still healthy margins).
What am I missing? I feel like this name has deep value considering the cash on hand is literally higher than the market cap.