General Maritime Corp (NASDAQOTCBB:GMRRQ)
The Company provides international transportation services of seaborne crude oil. The Company's fleet is comprised of both Aframax and Suezmax vessels.
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Pure speculation.
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Just a pure speculation play. Low downside risk, good upside potential, very ugly chart during difficult years.
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2 bagger. in the works
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Following the rest of the fools.
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Following my fellow fool's!
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It's about time to break from the decline...........
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This stock has been driven to point that if it doesn't go belly up should return 500% over the next 3 years. Selling ships to pay off debt is not a good sign but if it can survive. Turmoil in the Middle East should keep prices higher to return to profitability.
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Trouble in Sues Canal could easily push shipping stocks way up,Israel is today threatening to fire on Iranian shipping.
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Its a value pick. Used to be trading in 20's and 30's - bad economy and they take a hit, but we still need to import oil don't we? They're not going anywhere and oils going up. I think the they've hit bottom.
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Good upside?
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Undervalued, and probably down on bad news. Will be picking this up on Monday. Expect a pop soon. : )
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They just bought a new Genmar Hercules vessel, and also had approved a $372 million senior secured credit line. Stock price is currently at - 3.5 P/E. The average price of their stock should be around $ 7.5 at least. Even though they had cut their dividend, it is still in good position and very attractive.
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Cheapest stock right now in the shipping sector with a 9%dividend yeild and a good chance of takeover.
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value hunt
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The Only Company With All Ships That Will Meet Tough New Government Reulations.
In The Process Of Buying More Ships To Meet A New China Demand.
Will Crush Estimates For Year Becasuse Of Oil Drilling Motoreum In The States.
July Target $13.50
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Pays 1 dollar dividend and good prospects for shipping.
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Betting on a global economic recovery within 2010. Demand for energy and resources will first feel the effect than manufacturing and construction.
*crude oil
*petroleum
*natural gas
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adverse supply/demand factors; no particularly differentiating factors to help it
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Should be worth double figures IMO.
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Weak crude demand, declining inventory at sea, and a lousy economy will not help this middle-of-the road tanker company.
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