RE: TSX down 287 pts today or 3.37 %Even if the dividend is at risk, there is no reason for this stock to trade at these levels. Based on their current Book Value and Earnings, we should see this stock at higher levels.
Assuming earnings of 0.75 a share for the next 15 years, the stock is worth $18.46 a share (discounted cash flow analysis).
At $1.00 earnings, its worth $20.30.
The market is telling us that their assets are overstated, and/or earnings will be less than $.50/share for years to come.
I think that programmed selling overtook the market (and this stock). This stock should recover nicely tomorrow ($16.50 IMHO).
A buying opportunity is upon us.