+ Watch GNI
on My Watchlist
Engaged in the leasing and maintenance of mineral properties.
I've lived on the MN Iron Range my entire life, and I'm quite familiar with Great Northern Iron. In fact, many years ago, my dad, (who was Coordination of Mining Development for USSteel's MN Ore Operations at the time), was once offered the head job at GNI's local office, located just a couple blocks from my current home.Many local people, including me, have owned GNI over the years and generally made pretty good money if their holding period was timed in decades.I knew the stock's expiration was coming up, but until I was discussing mining stocks with a local financial analyst today, I hadn't thought of the stock for years. I was shocked to see it trading in the 70's, at least double it's definite value!I see there are some short positions, so I guess either somebody smarter than me figured this out long ago, there must be some non-Foolish fools out there who bought themselves a huge loss?
It's melltiiiing, meltiiiiing I say...
Dividend yield and great fundamentals.
Friends: One to three is sufficient.
3 years to go, 15 per year? End at $45
Evidently there are so many fools invested in GNI that I just might have to short this one in reality. (I don't mean "fool" as a term of endearment.) All shares are going to be canceled on April 6, 2015. At $2.50 per quarter, the remaining payouts come to a total of ... what, $20? Why is anybody buying this?
Trust has less than three years to go before dissolving, paying $14 per year in distributions. $15 per year was the best year ever for the stock. You can do the math - that adds up to a lot less than $75.
Only one way to go for this trust and it is down.
Magic Formula 11-29-12
This is going out of business.
Yet another swing trade that Great Northern Iron Ore Properties is well ahead of reality. I do think I might be early and that it could hit the low $80's before the next dividend, which is generally the "biggest" of the year as it represents the best mining "weather" and as the general commodity trend has been improving.Overall, as discussed many times, those diving in for the apparent "lucrative" dividend need to research trusts with finite lives. This trust has about three years left last time I checked and even at a maximum dividend payout will not return even half of the current share price back to investors. Currently this is swinging up pre-dividend as some knowingly risk getting left as a bagholder to draw another dividend and then unload the shares. This will collapse in the next few quarters.
all the way to ZERO
Not clear how they will recover.
This stock is a death trap. From Rueters: "Great Northern Iron Ore Properties (Trust or GNIOP) will cease to be a going concern and all shares will be cancelled, on April 6, 2015. According to the terms of the Great Northern Iron Ore Properties Trust Agreement, created on December 7, 1906, the Trust terminates 20 years from April 6, 1995, that being April 6, 2015. On April 6, 2015, GNIOP, by its terms, will dissolve, and all of its trusts will be terminated and shares will be cancelled. At the end of the Trust on April 6, 2015, the certificates of beneficial interest (shares) in the Trust will cease to trade on the New York Stock Exchange."The total value of dividend payments and residual value is about $60-80. You were warned!
Trying to pick up some free points due to inevitable decline.
It dissolves in 2years
This royalty trust is ending its operation in 5 years.
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