Breakwater Resources (BWR.TO) Buy, Sell or Hold

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Breakwater Resources (BWR.TO)

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BUY

Zinc producer and tends to be the “go to” name. Favourably disposed to zinc over the next few years.

COMMENT

Chart shows trending along the 50-day moving average with support there. Also shows big jumps in May and October with strong volume. Moving averages are below the stock price. Just had a nice pullback back to its last support indicating profit taking. Should move up again in 3-4 months. If not moving up by February there is a problem.

BUY

Fundamentally, zinc looks like one of the brighter areas in base metals. Looks like China is going to be a net importer of zinc. Both Farallon Resources (FAN-T) and Breakwater Resources (BWR-T) have great leverage to zinc.

BUY

Best way to play a recovery in zinc prices. Pretty reasonable production profile. Debt is under control.

BUY

(Market Call Minute) In the process of being restructured. You need patience.

HOLD

Big drop from its 2007 high and went into a base building period followed by an up-leg in the spring, bit of a correction and just had another up-leg. Probably going into some kind of a corrective period again. In general it is a good stock with rising 200 and 50 day moving averages.

RISKY

His hierarchy in base metals is copper first, followed by zinc. This is probably the purest, highest leverage (operating and financial) risk is way for a pure play on zinc. 2.3 X more volatile than the TSX composites index.

DON'T BUY

Zinc area has improved. This stock got carried away in the past and he doesn't think it will get to its old highs. Would rather own Teck Resources (TCK.B-T).

TOP PICK

Zinc has been strong and expects it to continue. This one provides the best leverage. Had a good run and has now pulled back nicely. Have the capacity to expand production. Have a mill in Quebec that can be brought on very quickly with very little capital.

DON'T BUY

Used to know quite well, then price came way down and it didn’t do well. Bas so many shares outstanding that he doesn’t find them interesting.

WEAK BUY

High-cost production of zinc. Stock went from $3 down to pennies over the last 2 years because of the collapse in zinc. Zinc has come back to life and if it can get to the $.90-$1 per pound, it should trade back in the $.30-$.35 range. Comes with a lot of risk.

DON'T BUY

Zinc producer. Have a collection of mines in Canada and Central America. High cost producer so subject to the vagaries of commodity markets. Would be reasonably cautious on zinc prices at this point. Need higher prices to have a higher upside.

DON'T BUY

Finding support around the 50 day moving average. Doesn't look like it's going anywhere fast.

BUY

Major selloff from 2007 but then started to base building and now has a rising 200-day moving average. Any kind of a weakness will bring it back to roughly $.28 but stock is ready to start rising again with a possible $.75 target. Very little resistance between now and $.75.

HOLD

(Market Call Minute) You have to like zinc, not his favorite.

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Breakwater Resources (BWR.TO)