"I have been waiting to get to this point for four years", CEO Lourenco Goncalves said of the dividend in a conference call with investors Friday morning.
The call occurred after the company reported a third-quarter profit of $437.8 million, slightly below expectations. After giving a routine rundown of the quarter, Goncalves went on the attack during a question-and-answer period.
He then promised to touch base with Korn - who apparently was not on the call - at a Goldman Sachs conference, and suggested he bring along an unidentified colleague who studies commodities for protection.
The CEO seemed particularly perturbed with one analyst, whom he did not name.
"We are going to screw these guys so badly that I don't believe that they will be able to only resign".
Later, Goncalves called out Goldman Sachs analyst Matthew Korn, asking him, "Why don't you ask a freaking question?"
In afternoon trading, the shares were down 88 USA cents, or 7.7 per cent, to $US10.60.
"Matthew Korn from Goldman Sachs, you can run, but you can't hide", he said. "They will have to commit suicide", Goncalves said. The company's USA iron ore pellet sales volume in the third quarter of 2018 was 6.5 million long tons. The average estimate of five analysts surveyed by Zacks Investment Research was for 66 USA cents per share. Goncalves said that basic earnings of 67 cents a share was the correct measure to use. Goldman Sachs declined to comment or to make its analyst available for an interview.
The CEO defended his comments on the call.
The incident was reminiscent of Tesla CEO Elon Musk's scolding of analysts on a call in May, which sent the vehicle maker's stock down in after-hours trading.
The company's third-quarter adjusted EBITDA - earnings before interest, tax, depreciation and amortization - was $250 million, up 66 percent over past year.