Quadra FNX Mining Ltd (QUX.TO) Buy, Sell or…

Quadra FNX Mining Ltd (QUX.TO)

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COMMENT

Copper play. Nice group of assets. He prefers the bigger names like Inmet Mining (IMN-T) or Teck Resources (TCK.B-T) but this one does look cheap. Copper has recovered nicely. There should be lots of upside on this.

PAST TOP PICK

(A Top Pick July 2/08. Down 45.2%.) Small copper producer. There is a lot of leverage to the rising price of copper. Still some significant upside left.

BUY

Excellent leverage to Copper. Just announced a couple of problems and stock probably reacted negatively to this. Might not be a bad place to start Buying. Thinks both problems are fixable. Great growth profile. Good management.

PAST TOP PICK

(A Top Pick July 2/08. Down 56.78%.) From a seasonal perspective, he would take some off the table but longer-term he likes copper. Good growing production profile. Should be significant upside over the next 2-3 years.

PARTIAL SELL

Has had a great run and if you own, he would trim some. Long-term he still likes the copper story. This one will grow nicely over the next few years.

DON'T BUY

Copper had a huge jump but might have been ahead of itself. Thinks there is more upside in the next 12 months. This company has a lot of leverage so you really have to like copper to own this.

BUY

On the chart, copper has turned and it looks like it wants to go to $2.20. You could use this as a trade rather than a long-term investment as there is room to move. Use a fairly tight Stop. Prefers bigger companies such as Freeport-McMoran (FCX-N), which he thinks is an easy walk to around $50.

BUY

Copper focused and copper seems to be frozen for the next month. Have cash and will be able to access the equity market. Over a 3 to 5 year time horizon, under $5 is a good price.

BUY

Under a lot of pressure recently. Lots of cash on the balance sheet. Had some negative re-pricing on some contracts. Trading very close to its cash value. Thinks it is set to do well.

TOP PICK

Likes copper. There is a growth scare in the market right now but later this year and into 2009 copper will be very strong and probably one of the best performing commodities. Have one operating mine in Nevada with another coming on stream at the end of this year. Also have a project in Chile that could add some future growth down the line. Cheap at about two thirds valuation of its peer group.

BUY

Copper producer in the US. A Buy and Hold. Good production profile. One mine has just come on stream and another one will be starting in a year and a half or so so there is good production growth profile.

TOP PICK

Copper is the metal that he has the most constructive view on. There hasn't been a proper supply side response and demand continues to grow. This one is based in the US, so does not have political risks. Has gold as a by-product.

COMMENT

One of the cheapest copper stocks. Also have some molybdenum projects. Their production costs for copper are a bit higher than the average, so if the price of copper stays at $3, they will continue to do well. Whether you buy or not depends on your view of copper.

DON'T BUY

Most of the mining stocks look much the same. This one has been in an uptrend since March and then had a trend line violation. There has been quite a run on commodities and he thinks we are starting to get a rotation away from commodity sensitive stocks into disinflationary stocks.

BUY

The company has executed well. They have solved production problems. It is a very cheap stock , great price to pay.

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Quadra FNX Mining Ltd (QUX.TO)