一隻奇怪的美股GNI

daynight 發表於 2014-1-8 21:07  

剛才閒閒沒事用篩選器找到一隻美股GNI，
一按盈再表發現很奇怪(ROE平均160，IRR23，PER3)。
去查歷史股價，
2014.1.6突然由60幾元暴跌到35元，
現在又跌到26元。
上網google了半天，也看不出啥特別原因。
有同學可以解惑嗎 ?

polyperry 發表於 2014-1-8 21:19  

http://seekingalpha.com/article/1928511-great-northern-iron-now-worth-less-than-21-will-fall-to-0-in-15-months
Great Northern Iron Now Worth Less Than $21, Will Fall To $0 In 15 Months

GNI is a royalty trust that, according to itsown website, will terminate,worthless, on April 5, 2015. As the stock last went ex-dividend on December 27, 2013, there are now only 5 quarterlydividends remaining, plus a final distribution to be paid just beforetermination…
After that the shares expire worthless, and thetrust's property and mineral rights pass to the reversioner, ConocoPhillips…
In short, the remaining distributions from GNIwill total approximately $20.89 ($10+$2.50+$8.39) or maybe "slightlybetter."…

It certainly doesn't make sense to pay any morethan that, and yet the shares are selling for $67. Anyone who pays the currentprice and holds until termination is guaranteed to lose about two-thirds oftheir investment.

mikeon88 發表於 2014-1-8 21:41  

巴菲特班真是臥虎藏龍，
隨便丟一支股票來問，
都有人接。
吾佩服。

polyperry 發表於 2014-1-8 21:48  

有趣的 royalty trust...

A royalty trust is a type of corporation, mostly in the United States or Canada, usually involved in oil and gas production or mining. However, unlike most corporations, its profits are not taxed at the corporate level provided a certain high percentage (e.g. 90%) of profits are distributed to shareholders as dividends. The dividends are then taxed as personal income. This system, similar to real estate investment trusts, effectively avoids the double taxation of corporate income.