Inmet Mining (IMN.TO) Buy, Sell or Hold

Inmet Mining (IMN.TO)

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PAST TOP PICK

(Top Pick May 2/08, Down 54%, 6%if you used his $75 stop loss) If you don’t have the discipline you are going to have problems. About all you can do is play the volatility.

WAIT

Despite good increases in volumes of sales, costs have been squeezing them even more. Also been hit with higher taxes. Trading at a reasonable multiple of about 1.5X BV. Earnings over the next couple of years should go from $8.40 to well over $9 assuming the materials sector hangs in. Not a bad time to look at it but try to buy at $48.

TOP PICK

Significant copper, 250,000 ounces of attributable gold, large cash war chest. Just announced they are going to be making a bid for one of their joint venture partners in Panama. Very cheap.

COMMENT

Copper, zinc and some gold. You need exposure to the commodity sector and having a company that has 2 or 3 is not a bad idea. (Zinc is a problem commodity right now. Forecasted to have an oversupply for the next couple of years.)

HOLD

Had to put Los Cruces mine on hold because of issues with the water authority. Ultimately it will come back into production. Stock will move sideways for now. Great exposure to copper and zinc. Looking to 2009/2000 it has one of the best growth profiles of the larger cap mining companies in Canada.

TOP PICK

Likes copper as a metal. This one’s been beaten down. Their new mine in Spain had an environmental issue but it can be dealt with. Cheap at 6X earnings.

COMMENT

Down 10% over the last year. Even if you are in a hot area you can still not benefit if they are not delivering. Some operational problems in Spain. If they can successfully address these and can deliver what they have in the last couple of years, the price should recover.

TOP PICK

This is a short term trading idea. Has a nice trend with a good support level. Very volatile. Just looking to make $10 but if it continues and there is momentum he'll continue holding. Would be careful if it dropped below $75.

PAST TOP PICK

(A Top Pick Apr 12/07. Up 27.3%.) The model price is $125.44, a 55% positive differential. Still a Buy.

TOP PICK

Copper is currently $8,000 a ton and global stockpiles are at fresh lows. Down 30% from its peak and has $13 a share in cash. Trades at 6X forward earnings. Possible takeover target.

TOP PICK

You have to have base metal exposure because demand around the world is rising. Copper prices have been falling so share prices of this company have dropped. PE is ridiculously low at 6X earnings, not including cash. Good exposure globally in stable countries. A perennial takeover target. Good price.

BUY

Starting to worry about a stagflation environment. Mining shares would be an area that would generally do well so having money in this area would be a good idea.

BUY

Copper is were it has it's most value right now, although they produce zinc and others as well. Good value, plus a commodity at this price.

COMMENT

Potential takeout target but there are fewer of those recently. If he were interested in metal companies, it would be in larger, more global types. Has reduced his metals exposure because they are economically sensitive. A concern on a US recession could create weakness. If he were owning one, this would be one he could own.

COMMENT

Has had a heck of a run today. Would have been a better buy a couple of weeks ago. Targets are closing in on the $100 area. Looking for big copper production from them.

Showing 76 to 90 of 181 entries

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Inmet Mining (IMN.TO)