Falconbridge Ltd (FAL.TO) Buy, Sell or Hold

Falconbridge Ltd (FAL.TO)

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BUY

There are 2 very cheap stocks in the metals sector. Falconbridge (FAL.LV-T) trading at about 4 X cash flow and Sherrit (S-T). Have always liked this stock.

HOLD

Nickel prices are looking good and copper is continuing to do well.

PAST TOP PICK

(A Top Pick Mar 21/05. Up 8%.) The only name he has in base metals. An inexpensive stock.

BUY

His model price is $40, but doesn't think it will ever reach this. Has a short term taget of about $32.

TRADE

Copper is considered a very good indicator of economic strength because it's used so much in building. You also have the nickle which gives youy a double exposure, so, if she bought, would prefer this one over Inmet (IMN-T).

DON'T BUY

Just ready to report and the earnings should be pretty decent as nickel and copper prices have been very high in the last quarter. Metal stocks have been one of the most disappointing groups in that prices are high but the stocks don't follow through. Won't do as well from now on, based on the price.

BUY

It's better that there will be a consolidation of all assets under one roof. Probably a little boring relative to some of the other major mines, but it is rated more cheaply in the market, so there is a catchup process here.

DON'T BUY

On its way to becoming Noranda-Falconbridge. Likes nickel, but it's closer to the end of the cycle. Would prefer Inco (N-T).

BUY

The deal with Noranda (NRD-T) is a great deal as it brings two companies that should be together, together. Well run. Very cost effective.

HOLD

Q: Should I sell on the open market or tender to Noranda (NRD-T)? A: Tender it to Noranda. This will put you into a new company which is bigger with some good potential and a more attractive company for a take-over target.

HOLD

Recommended that minority shareholders accept the offer to merge with Noranda (NRD-T). You won't have much of a choice as they will control it soon.

BUY

Likes the deal between this and Noranda (NRD-T). It will be great for both companies. The overall dynamic is very positive.

WEAK BUY

With talk of a takeover, it's really trading in line with Noranda (NRD-T). Would like to see a pull back. To participate in the gains of these 2 companies, would recommend looking at Brascan (BNN.LV.A-T) which is enjoying all those earnings coming in.

TOP PICK

(A Top Pick Jan 7/05. Up 26%.) One of the more inexpensive stocks. Treading water at the $21/22 range. Even if the Ming deal went through, would hope to get $24.50 which is a 16% rate of return. Brascan releasing is good as he feels it will be a great performer on its own.

HOLD

Stock reflects the current price.

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Falconbridge Ltd (FAL.TO)