Noranda Income Fund (NIF.UN.TO) Buy, Sell or…

Noranda Income Fund (NIF.UN.TO)

1.44

-0.02 (1.37%)

as of Feb 16, 2023, 7:58:05 pm Market Open.

18 watching

BUY

A fund that doesn’t get talked about a lot but it is a pretty solid group of people that own it. Really inexpensive, and pays a nice dividend of 9.36%, which is sustainable. He thinks it has a bright future in front of it.

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BUY

Not a direct mining company but a processor. Great zinc smelter on the East Coast and is really, really undervalued.

BUY

Zinc processor. High quality assets. Decent company but he is cautious over the long-term. Should be stable earnings until 2017 when they renegotiate the contract. In the next 3-4 years you can rest assured the dividend is safe.

BUY

Represents pretty good value at this level. Doesn’t see any risk of a dividend cut. 10.4% yield.

DON'T BUY

Not well followed. Zinc processor. Used for Galvanized steel. Has a contract for their customer. When the contract runs out in 2017 what is going to happen to this one.

COMMENT

Generally speaking, commodity related income is risky income. At the end of the day you are dealing with commodities and whether it’s prices or volumes, you can get bit on these things so he would be careful of this.

BUY

Basically a processing manufacturing company in the zinc business. Distribution is safe at 8%.

BUY

Large zinc processing company in Canada. 50% of zinc is used for galvanized metal, such as nails. Low cost facility in Quebec, close to US market. Earns money through processing agreement, which generates 80% of earnings. This removes commodity risk. A risk is what happens in 2017 when the agreement runs out.

HOLD

(Market Call Minute.) Primarily zinc processing.

SELL

Doesn't think the 24% yield is sustainable. Not seeing many good things in their fundamentals. Chart is not bad. Found a bottom, retraced and is holding its own however, today's movement does not look very good.

COMMENT

Zinc processor. Yield of about 22% and he is currently assessing this.

COMMENT

Basically gives exposure to a smelter in North America. Very unlikely more will be built in North America. Earns margins on processing metals. Cash flow has been reasonably steady. Payout is relatively high. 40% yield tells you more about the markets outlook on commodities rather than the company itself.

DON'T BUY

Zinc processing facility in Quebec. Not favourable on the price of zinc going forward. Distributions will depend on the cash flow they can generate.

BUY

Zinc refinery in Quebec. Stock does not swing widely with the commodity price. Very stable, visible cash flow stream.

COMMENT

Based on the results of a smelter in Quebec. They are continuing to find new supplies for that refinery. Running close to 100%. Doubt if they will be allowed to expand. Very stable.

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Noranda Income Fund (NIF.UN.TO)