Ithaca Energy Inc. (IAE.TO) Buy, Sell or Hold

Ithaca Energy Inc. (IAE.TO)

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48 watching

BUY

He thought they would accept a bid. Likes company and management. They make a pretty good case for why they did not sell it. He bought more yesterday. Very well run company. Give it a couple of years.

SELL

If he owned this, he would be looking to go elsewhere. Because of seasonality though, he would not go into another energy stock.

HOLD

(Market Call Minute.)

SELL

If there is no takeover, the price could drop to $2. To try and make $.30 or to lose $1.10, he doesn't like the trade-off.

HOLD

Currently in play and we are 6 to 8 weeks away as a guess. The NAV by his estimate is about $3.60 which would still give you 16%-18% upside in a short time frame.

BUY

Likes it. Management did a good job recently. OK government report indicates that smaller companies like this one will benefit. Can buy a Canadian stock and participate in the world.

BUY

3 firms circling to take it over thinks takeover will be 3.50 or higher.

BUY

Received a takeover bid from multiple parties. We have to wait for year-end results and reserve reports. Sits on a tremendous amount of tax losses. Fair value of stock is $3.50, so you have descent upside. It seems it will get taken out.

HOLD

He missed the boat on this one. Think it will be taken out and will probably be higher than the current price of $3.15. Think it will come to a conclusion in the next 90 days.

HOLD

Exclusively focused in the North Sea and the company is projecting 20,000 barrels a day by the end of 2013. There is an offer out for this one and he thinks they are soliciting bids from other parties. Expect the company will be sold in the range of $3.25-$3.50.

HOLD

Recently had a bid but no details have been released. An attractive company that will receive other bids. Has good growth in its own right. $3.25 or a little higher would be a reasonable takeout bid.

HOLD

Has had an unnamed offer for $3 but he would be tempted to continue to hold. Doesn't think they will accept this offer so either the offeror will up the bid or another bidder might enter the fray. His target on this has been $4. It is a huge increase in production coming from 5000 to about 25,000 barrels a day over the next 18 months.

HOLD

Company is expected to have decent earnings growth in future. Bringing on new fields in the North Sea and the UK. This would be of interest to about 5 potential buyers so he would continue to hold. Trading at about 8X PE.

SELL

(Market Call Minute) Be careful. Close to fair value. Sell to take profits, 10% upside remains.

BUY ON WEAKNESS

North Sea drilling. Canadian company, virtually name only. While their NAV is well through $3, they've had a number of delays. Particularly they’re waiting on a ship coming out of Dubai that has to pass through Straits of Hormuz. The longer this takes, they lose $.05 a share of cash flow from the new Athena. On the positive side, they’re producing at the rate of 5000 barrels a day. Athena will get them up to about 10,000. Would buy this one under $2 and sell it close to $2.75-$3.

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Ithaca Energy Inc. (IAE.TO)