My point is, in rebuttal to your comment they are over valued, Black Rock paid up to 59c for their holding [$2.95], which was before POSCO deal, before MC optimisation, before Ausbil became a substantial holder, before reserves at James Bay and MC were extended, before Galaxy announced binding offtake agreements for a minimum 200,000 tons PA with multiple customers.... you get the picture.....
You say Black Rock holds GXY because "It presumably fits into their portfolio for a good reason," Well, the only reason I know for the sharks in suits to hold a stock is to make money.
19/10/2018 Galaxy Resources Target Cut 4.4% to A$4.30/Share by Citi 06/11/2018 Galaxy Price Target Raised 2% to A$2.90/Share by Morgan Stanley 07/11/2018 Galaxy Resources Price Target Cut 12% to A$4.30/Share by Bell Potter 14/12/2018 Galaxy Resources Price Target Raised 2% to A$2.95/Share by Morgan Stanley 25/01/2019 Galaxy Resources Price Target Cut 28% to A$2.70/Share by UBS 29/01/2019 Galaxy Resources Upgraded to Outperform from Neutral by Credit Suisse 06/02/2019 Galaxy Resources Price Target Cut 15% to A$2.50/Share by Morgan Stanley 01/03/2019 Galaxy Resources Price Target Cut 4.8% to A$3.00/Share by Credit Suisse 01/03/2019 Galaxy Resources Price Target Cut 7.4% to A$2.50/Share by UBS
Tell us why it's over valued....
GXY Price at posting:
$2.02 Sentiment: Buy Disclosure: Held
