Goldman analyst told ‘you can run, but you can’t hide’

As shares of the largest U.S. iron ore producer fell as much as 10 per cent Friday, its CEO closed his analyst call by targeting Goldman Sachs’ analyst Matthew Korn.

Cleveland-Cliffs Inc. CEO Lourenco Goncalves questioned Korn for saying in a report that the company “modestly missed estimates.”

“Matthew Korn from Goldman Sachs, you can run, but you can’t hide,” he said.

“I will see you at the Goldman Sachs conference, very soon. And bring your commodity desk guy, because you owe me that for last year.”

It was the end of a call in which Goncalves raged against analysts that he said don’t understand his company and short-sellers betting against it.

The statements come after Tesla CEO Elon Musk pledged to ”burn” short-sellers in an analyst call in May.

An analyst on the call asked if he would consider opening a Twitter account like the Tesla CEO did.

In an interview later, Goncalves demurred. “Of course not,” he said.

“Look, this is a real company here. We make money. We don’t need publicity. We will continue to generate profits over and over and over again. Our profits are real, and all the publicity I get is well-deserved and supported by real results. That’s us.

“The Goldman Sachs guy should know better,” Goncalves said.

“The reason why the number of our shares diluted increased is because our stock price appreciated so much that the right way to account for the convertible is the way we did. So it’s just a calculation. We did not issue stock, we did not dilute the shareholders.”