Buy, Sell or Hold: Canaco Resources (CAN-X)

Canaco Resources (CAN-X)

0.00

0.00 (0.00%) 1d

COMMENT

This is trading at discount to cash now. Market had been expecting them to come out with a resource and when they did, the resource was a lot smaller, a lot lower grade and the management team has lost credibility.

SELL

Tough one. Has done really well. Raised a lot of money. In his letter he says to sell the stock.

BUY

Gold explorer/developer in Tanzania. One of the best performers in 2010 but a poor performer this year. A lot of this has to do with the risk trade coming off, especially for explorers. Very good asset. Key catalyst is probably coming in the 1st quarter of 2012 when there is a resource update when he expects they will be in the 2-3 million ounce range. In the 2nd quarter he is looking for a prefeasibility study.

STRONG BUY

Only problem is that you can’t drill it fast enough. Drill results continue to be outstanding. Problem is general market conditions. Especially at this level they are a buy. Tanzania.

COMMENT

Just broke its 200 day moving average. Could see support come in at the $3.40 level but could even go to $2. On smaller players, you have to expect a lot more volatility. If you see some volume come in around here, you might want to take a partial position.

TOP PICK

Gold exploration/developer in Tanzania. $1 billion market cap and he is looking for its initial resource by year end of several million ounces. Significant potential.

COMMENT

Have done very well buy is becoming a pretty steep valuation. Real interesting discovery in Tanzania. Has yet to go through it section by section and tie it together into a body that can be mined economically. Also have a discovery in Ethiopia that could add a lot of value but he hasn’t seen enough data to comment on it.

BUY ON WEAKNESS

Announced 2 or 3 days ago that on lands they have in Ethiopia, they have a poly metallic high-grade deposit.

WAIT

Great exploration story over the last couple of years. Recently a couple of groups have show ownership of nuisance claims. Company is dealing with them. Thinks they will get resolution by the next quarter.

HOLD

There has been a great little rally in the Junior and mid-cap gold sector over the last 2 months.

BUY ON WEAKNESS

Gold play in Tanzania. Have come up with some great drill results and have been successful with follow-up drilling. Has run a little ahead of itself on the valuation but would like to get in at a lower price.

TOP PICK

Gold. Came out with some fantastic drill results in Tanzania, 37 m with 12.5 g. Looks like they are going to have 3 million ounces ultimately. Open pit and low CapX.

Showing 1 to 12 of 12 entries

Canaco Resources(CAN-X) Rating

Ranking : 1 out of 5

Bullish - Buy Signals / Votes : 0

Neutral - Hold Signals / Votes : 0

Bearish - Sell Signals / Votes : 0

Total Signals / Votes : 0

Stockchase rating for Canaco Resources is calculated according to the stock experts' signals. A high score means experts mostly recommend to buy the stock while a low score means experts mostly recommend to sell the stock.

Canaco Resources(CAN-X) Frequently Asked Questions

What is Canaco Resources stock symbol?

Canaco Resources is a OTC stock, trading under the symbol CAN-X on the (). It is usually referred to as or CAN-X

Is Canaco Resources a buy or a sell?

In the last year, there was no coverage of Canaco Resources published on Stockchase.

Is Canaco Resources a good investment or a top pick?

Canaco Resources was recommended as a Top Pick by on . Read the latest stock experts ratings for Canaco Resources.

Why is Canaco Resources stock dropping?

Earnings reports or recent company news can cause the stock price to drop. Read stock experts’ recommendations for help on deciding if you should buy, sell or hold the stock.

Is Canaco Resources worth watching?

In the last year, there was no coverage of Canaco Resources published on Stockchase.

What is Canaco Resources stock price?

On , Canaco Resources (CAN-X) stock closed at a price of $.

Stockchase, in its reporting on what has been discussed by individuals on business television programs (in particular Business News Network), neither recommends nor promotes any investment strategies.

We paraphrase the experts by hand, we watch the shows and write down what we understood from the experts’ comments. We are human and can make mistakes, help us fix any errors. If you see something that you know is not right or if there is a problem with the site, feel free to email us at : hello@stockchase.com.

Canaco Resources (CAN-X)

Canaco Resources(CAN-X)

Canaco Resources(CAN-X)

Canaco Resources(CAN-X)

Canaco Resources(CAN-X)

Canaco Resources(CAN-X)

Canaco Resources(CAN-X)

Canaco Resources(CAN-X)

Canaco Resources(CAN-X)

Canaco Resources(CAN-X)

Canaco Resources(CAN-X)

Canaco Resources(CAN-X)

Canaco Resources(CAN-X)

Canaco Resources(CAN-X) Rating

Canaco Resources(CAN-X) Frequently Asked Questions

What is Canaco Resources stock symbol?

Is Canaco Resources a buy or a sell?

Is Canaco Resources a good investment or a top pick?

Why is Canaco Resources stock dropping?

Is Canaco Resources worth watching?

What is Canaco Resources stock price?

Latest Buy Signals

Today's Top Picks

Popular Articles

Latest Sell Signals

Most Recent Experts

Stockchase Insights

Jim Cramer - Mad Money

Dan Rohinton

Richard Fogler

The Panic-Proof Portfolio (Stockchase Research)