Just a quick note to update you that I bought a small tranche of MFC Industrial (MIL) shares today, following the recent drop and their latest earnings release (the shares are down about 20% since I featured them as the “Idea of the Month” in February).
Business is a bit troubled right now, particularly with their iron ore holdings (they’ve written off their mine in India because the government shut down that mining region) and low gas prices, but I expect this to become a good long-term play on their commodities marketing business and on the undervalued natural gas assets they bought last year. The only real short-term catalyst possibility that I can picture is that they may well partner or sell some of the natural gas assets — like their processing plant, or their undeveloped exploration land — but at a 30%+ discount to book value and with a growing dividend I will look both to build on this position if the price stays appealing, and to be patient with management. More on this in the Friday File tomorrow.
window.tagifier_term_5243 = [{"title":"Friday(ish) File: NVIDIA, Teqnion and more...","permalink":"https:\/\/www.stockgumshoe.com\/2024\/02\/fridayish-file-nvidia-teqnion-and-more\/"},{"title":"Friday File: Arbitrage, Deals, Discount Buys, and Another Brick in the Wall","permalink":"https:\/\/www.stockgumshoe.com\/2022\/09\/friday-file-arbitrage-deals-discount-buys-and-another-brick-in-the-wall\/"},{"title":"\"Energy Armageddon Coming to America\" and some updates on old favorites","permalink":"https:\/\/www.stockgumshoe.com\/reviews\/peak-energy-strategist\/energy-armageddon-coming-to-america-and-some-updates-on-old-favorites-2\/"}];window.tagifier_term_247 = [{"title":"Friday File: Buying Beauty, Selling Ugly","permalink":"https:\/\/www.stockgumshoe.com\/2019\/12\/friday-file-preparing-for-recession-plus-docusign-ulta-and-okta-report-and-i-make-a-few-buys-and-do-some-tax-loss-harvesting\/"},{"title":"Friday File: India, China, the Big Picture for 5G, and a bit of Selling","permalink":"https:\/\/www.stockgumshoe.com\/2019\/05\/friday-file-india-china-the-big-picture-for-5g-and-a-bit-of-selling\/"},{"title":"Friday File: Diving into another Marijuana teaser, plus several add-on buys","permalink":"https:\/\/www.stockgumshoe.com\/reviews\/real-wealth-strategist\/friday-file-diving-into-another-marijuana-teaser-plus-several-add-on-buys\/"}];window.tagifier_term_3621 = [{"title":"Friday File: Possible Panic, Possible Buys and Sells","permalink":"https:\/\/www.stockgumshoe.com\/2018\/03\/friday-file-possible-panic-possible-buys-and-sells\/"},{"title":"Friday File: Altius Checkin","permalink":"https:\/\/www.stockgumshoe.com\/2016\/03\/friday-file-altius-checkin\/"},{"title":"March Idea of the Month: Venture Capital at a Discount","permalink":"https:\/\/www.stockgumshoe.com\/2016\/03\/march-idea-of-the-month-venture-capital-at-a-discount\/"}];window.tagifier_term_338 = [{"title":"Porter's \"Big AI Die Up\" stocks","permalink":"https:\/\/www.stockgumshoe.com\/reviews\/the-big-secret-on-wall-street-this-week\/porters-big-ai-die-up-stocks\/"},{"title":"Answers: Alex Green teases, \u201cMake a Fortune From the #1 Royalty Company in America\u201d","permalink":"https:\/\/www.stockgumshoe.com\/reviews\/the-insider-alert\/make-a-fortune-from-the-1-royalty-company-in-america\/"},{"title":"What's Porter's \"Two Men Destroying America\" Pitch All About?","permalink":"https:\/\/www.stockgumshoe.com\/reviews\/the-big-secret-on-wall-street-this-week\/whats-porters-two-men-destroying-america-pitch-all-about\/"}];