Norman LevineAur ResourcesAUR.TOBUY ON WEAKNESSJan 25, 2006
About as pure a copper play as you can get. You have to believe that copper, which has gone up a great deal, will continue to do this. Maybe some further upside, but he would wait for a correction before putting new money in.
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.