Author Topic: NIF-UN.TO - Noranda Income Fund  (Read 2085 times)

Lakesider

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Re: NIF-UN.TO - Noranda Income Fund
« Reply #10 on: May 22, 2019, 09:16:09 PM »
I was thinking about adding when the price dipped but my stupid brain passed because the price is much higher than what I originally paid.

If this is paying a dollar out in free cash it could still have a long way to run.


samwise

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Re: NIF-UN.TO - Noranda Income Fund
« Reply #11 on: May 23, 2019, 06:11:28 PM »
I was thinking about adding when the price dipped but my stupid brain passed because the price is much higher than what I originally paid.

Same. I would buy 3xFCF any day. But I bought a bit of this at 1.2, sold at 1.5 and 2.1. Now buying more at $3 is mentally stressful. Price history should not matter. Anyway this is still about a 5% position for me now, and I am holding on for now, since the fundamentals do seem to have improved.

BTW if they do want to pay off the ABL, that might be 4 years of FCF. They didn't sound in a hurry to resume dividends, but some will be forced on them to keep the income fund status.
« Last Edit: May 23, 2019, 08:02:11 PM by samwise »