Nova Chemicals Corp. (NCX.TO) Buy, Sell or Hold

Nova Chemicals Corp. (NCX.TO)

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5 watching

SELL

Represented unbelievable value but had near-term risk of default. If you own, you have a risk that the buyer walks. He would take the money is there are a lot of other opportunities.

COMMENT

One of the giants of ethylene production. Very cyclical. Big debt and low pricing problems. Thinks it should be looked at as it may be a fabulous buy for the next cycle.

HOLD

Market is very fearful right now that the company is going to go bankrupt. As a big debt load and chemical prices, specifically ethylene, have collapsed. There are strong rumours that the Alberta government might step in. Wouldn't panic and Sell. The prudent thing to do would be to take half off the table.

DON'T BUY

A frustrating name. Essentially 2 businesses with polyethylene being good but styrenics has never really paid off. We prefer others.

COMMENT

Gets tarred with an industrial chemical company. When investors are looking for liquidity they sell anything. Should respond on the upside as the market gets going. Costs are coming down because of lower oil prices.

WAIT

This is dependant on the commodity cycle. It has more to go on the downside.

COMMENT

Chemical stocks have suffered dramatically along with all things related to commodities. Selling pressure in this one may be over. From a risk/reward perspective you have to pay a lot of attention. When chemical prices turn, they turn with a vengeance.

DON'T BUY

200 day moving average is currently falling. Broke below it in October of 2007. Not yet ready.

BUY

Compared to their competition they have some sweetheart deals in Alberta for their raw material, mostly natural gas. Looks like it has bottomed for now and the yield is OK.

BUY

(Market Call Minute.) Likes the story very much.

COMMENT

Has been a real disappointment. There has been fabulous performance from virtually every basic material stock in the TSX while this one has lost people money over the last several years. There is a lot more by you than what the share price shows. Could possibly be a takeover at some point.

COMMENT

Has come under a lot of pressure recently. A very difficult business to time properly because of petroleum prices moving around. At this price, it's a name that he would have a look at. He has been thinking about buying it himself. Very volatile. If you own and it got up to the $35/$36 area he would be a seller.

COMMENT

They use natural gas to make ethylene for producing plastics. They have sold off because all of their products are economically sensitive. Trading at 8X earnings, which is low. If you believe there is going to be a recession, you do not want to own a deep cyclical company such as this.

DON'T BUY

Being impacted a lot by the strong Cdn$. Feedstock and energy prices going forward will be a big worry for them. There is a fairly tight styrene market, but have not been able to pass the increased prices on. An extremely hard company to read.

HOLD

You have to think about the feed stock prices on this. Has some good cost advantages based on their location in Alberta. Earned $2.05 in 06 and is estimated to earn $2.10-$2.15 over the next couple of years.

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Nova Chemicals Corp. (NCX.TO) Frequently Asked Questions

What is Nova Chemicals Corp. stock symbol?

Nova Chemicals Corp. is a OTC stock, trading under the symbol NCX.TO (previously NCX-T on Stockchase) on the undefined (undefined). It is usually referred to as or NCX.TO

Is Nova Chemicals Corp. a buy or a sell?

In the last year, no analyst issued a Buy, Sell, or Hold rating on NCX.TO (previously NCX-T on Stockchase) on Stockchase. Read the latest expert commentary for Nova Chemicals Corp..

Is Nova Chemicals Corp. a good investment or a top pick?

Nova Chemicals Corp. was recommended as a Top Pick by Michael Sprung on 2007-08-31. Read the latest stock experts ratings for Nova Chemicals Corp..

Why is Nova Chemicals Corp. stock dropping?

Earnings reports or recent company news can cause the stock price to drop. Read stock experts' recommendations for Nova Chemicals Corp..

Is Nova Chemicals Corp. worth watching?

Nova Chemicals Corp. is covered by Stockchase experts and is worth watching.

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Jim Cramer - Mad Money

CNBC

Richard Orrell

RN Croft Financial Group

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Stan Wong

Private Wealth Management, ScotiaMcleod

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Nova Chemicals Corp. (NCX.TO)