Bill CarriganAur ResourcesAUR.TODON'T BUYJun 06, 2005
A trend line across the lows would show that it has bounced off the lows and we now head up to the top of the trading channel. Not too excited about the resources stocks. Expect they will rally but some will fail to make new highs.
Numbers were a little bit below expectations. Adding acquisitions. Extremely strong balance sheet. Feels it can trade back up in the mid-$20's. Could be a takeout.
It is facing the rapid decline in copper prices. You will probably see some element of earnings being reduced. Seems to be holding here reasonably well. If you’re reasonably optimistic, like he is, some of the metals are looking a little more interesting.
Paying a special dividend towards the end of the month. Outlook for copper is a little more guarded at this stage. If there is a re-acceleration of the economy, the stock can spring back to life and trade in the mid-$20's. Would take a little money off the table at that time.