Morgan Stanley Drops Pebble Mine Shares

The global investment banking firm, Morgan Stanley, has dropped 99% of its shareholdings in Northern Dynasty, the Canadian company behind the proposed Pebble Mine—a massive copper and gold mine that threatens the world’s largest wild salmon fishery at the headwaters of Alaska’s Bristol Bay.

LINK (via Earthworks)

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2 thoughts on “Morgan Stanley Drops Pebble Mine Shares

  1. There’s so much on that page that makes no sense to me. First, it states that the valuation of the 3K shares Morgan Stanley owns is $12K (around 40 cents a share) yet the upper right correctly states the share at $1.43, making the current investment more like $42K.

    Second, the 99% dropped analysis was based on MS owning 35.M shares in February and 30K now. But the Institutional Ownership graph indicates that they must have sold those February shares a while ago (as they owned little to none earlier this month), then bought a bunch back THIS MONTH, the 17th and 18th, only to dump them on the 19th. Looks more like computer trading than a statement.

    What am I missing? I admit to being a financial neophyte (with the bank account to prove it), but these numbers are confusing. What it does seem to me is that, in the grand scheme of things, Morgan Stanley’s dumped investment was just a million-and-a-half clams (or five, depending on the valuation question). That’s pretty much small change in the scheme of things.

    But don’t get me wrong, it’s GREAT to see and, hopefully, a symbolic event that has legs. We need to put a stake in the heart of this thing. But this data is a mess. Just like its subject.

  2. Never mind my ramblings. Should have looked closer. Their forty-cent valuation was based on stock price in March (when the data for this was pulled). I hate seeing that the value has more than tripled since then. Not a good sign. And the graph has JULY dates on it so who knows what that’s all about.

    I stand by my contentions that the dumped investment is chicken feed in the scheme of things AND that this thing needs to be given a dirt nap.

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