Western Canadian Coal Corp. (WTN.TO) Buy,…

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Western Canadian Coal Corp. (WTN.TO)

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RISKY

Speculative buy but attractive. Theme is rising metallurgical coal prices that would be the catalyst. Good entry point.

BUY

This coal company has emerged in the front line after looking like it was going bankrupt a couple of years ago. Long-term view of about 8 million tons. He is a believer in coal.

DON'T BUY

Buying coal stocks depends on a view of the economy. This one is highly volatile. He prefers to be defensive at this point. Contract prices for metallurgical coal will be sent in the next 2-3 weeks and will probably be $225-$230, which implies a trade of around 5X next year's earnings.

HOLD

Ran up on rising prices of coking coal. Now down partly because of market’s pessimism on base metals and materials. Looking for a bottom before he gets back into it. Great leverage and fantastic balance sheet.

DON'T BUY

Coal depends on the outlook for steel more than anything else. Traders currently are feeling pretty bearish about steel and therefore about coal. It could be a while before this spikes back up.

HOLD

Metallurgical coal. China needs this and Australia can’t supply because it can’t get its infrastructure right. This one is emerging as the foremost company.

DON'T BUY

There is some more upside in it. He has taken some off the table. On a risk/reward basis, it is not as attractive to him.

COMMENT

Wants to become a top tier international producer of PCI and metallurgical coal. China is importing 10X more iron ore this year meaning their steel demand is insatiable so they need coal. Doesn't see the demand stopping.

BUY ON WEAKNESS

Leveraged to PCI and metallurgical coal. Because of the demand for steel, especially in China, met coal prices have really gone up. Speculative.

HOLD

Shows up well in his ranking system. Blew away earnings in the last quarter making $.09 while the estimate was $.01. Looks a little overbought at this point. Would prefer it at the 50 day moving average of about $4.85.

BUY

(Market Call Minute.) Likes the coal space quite a lot.

COMMENT

Iron ore prices have just gone up over 90%. With the steel industry back on fire, the whole derivative trade on steel is coming back so iron ore and coal are doing very well. Doesn't like to see expansion so he would be a little careful this year.

DON'T BUY

Coal producer. Have done a good job of taking mines that were not attractive and turning them around operationally. The risk is commodity risk and it is now more to the downside than the upside.

BUY

News out of China on coal is incredibly positive. You have to get in now. Could be a much different story in a month.

BUY ON WEAKNESS

Metallurgical coal. Would wait for a pullback to perhaps $4 before entering. Decent company, but small enough that a pullback or disappointment in prices could result in some pressure on the shares.

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Western Canadian Coal Corp. (WTN.TO)