| TOP PICK | 64.510 | Charles Oliver | 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. | 2008-07-07 | |
| Comment | 67.510 | David Baskin | 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.) | 2008-06-10 | |
| HOLD | 68.120 | Stephen Carlin | 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. | 2008-06-03 | |
| TOP PICK | 69.500 | David Baskin | 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. | 2008-05-27 | |
| Comment | 73.530 | Gavin Graham | 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. | 2008-05-20 | |
| TOP PICK | 79.330 | Jeff Parent | 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. | 2008-05-02 | |
| PAST TOP PICK | 83.900 | Brian Acker, CA | (A Top Pick Apr 12/07. Up 27.3%.) The model price is $125.44, a 55% positive differential. Still a Buy. | 2008-04-03 | |
| TOP PICK | 78.000 | David Baskin | 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. | 2008-02-19 | |
| TOP PICK | 76.360 | David Baskin | 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. | 2007-12-18 | |
| BUY | 76.360 | Norman Levine | 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. | 2007-12-18 | |
| BUY | 99.250 | Dennis Dasilva | 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. | 2007-10-30 | |
| Comment | 97.650 | David Burrows | 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. | 2007-10-04 | |
| Comment | 94.880 | Robert Floyd | 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. | 2007-09-06 | |
| PAST TOP PICK | 83.960 | David Baskin | (A Top Pick Aug 24/06. Up 87.1%.) Sitting on a pile of cash. Has a new mine coming into production. Trading around 5 X earnings. Still a takeover candidate at about $120.. | 2007-08-23 | |
| TOP PICK | 85.300 | Brian Acker, CA | 50% upside. In his portfolio and he got hit this month with the recent drawback. His model price is $120. | 2007-08-22 | |
| DON'T BUY | 75.950 | Robert Floyd | Sees this as a candidate for profit taking because it has done so well. The outlook for some of the commodity prices is slowing down quite dramatically. | 2007-08-10 | |
| Comment | 88.480 | Bill Belovay | Has quite a bit of organic growth in their Copper operations. Operating in Panama at the moment. Highly diversified mining company. | 2007-07-03 | |
| Comment | 88.480 | Bill Belovay | Has quite a bit of organic growth in their Copper operations. Operating in Panama at the moment. Highly diversified mining company. | 2007-07-03 | |
| BUY | 67.650 | Dennis Dasilva | Copper in Europe and Africa. Likes its discount to net asset value and what it trades and as a multiple to earnings and cash. Good leverage in terms of cost structure. Undervalued. | 2007-04-05 | |
| Comment | 55.800 | Laura Wallace | Copper and zinc are the metals that are probably the most extended, so on a short to medium-term basis, the stock could be vulnerable. The resource boom is a secular trend, so would keep some money in the area. | 2007-03-14 | |
| HOLD | 60.980 | David Baskin | Still holding his base metal companies. If you own, take profits. Demand from Asia is still strong. | 2007-02-13 | |
| HOLD | 58.980 | Chris Smith | Seems to be behaving fairly well. Has corrected back. Copper has seen the worst of the damage we are going to get. Good operator. Globally diversified. | 2007-02-07 | |
| Comment | 58.200 | Michael Sprung | A great success story. Very strong copper producer, but also has interests in gold and zinc. They have good assets. Valuation may be a little bit high at the moment. | 2007-01-29 | |
| BUY | 55.170 | Brian Acker, CA | He has the model price of $107.54. | 2007-01-17 | |
| Comment | 55.770 | Steve MacInnes | Doesn't meet his environmental social governance criteria. The pullback in the metals is a buying opportunity. You may have to treat it as a trading vehicle. Feels analysts are underestimating the earning ability of these companies. | 2007-01-11 | |
| PAST TOP PICK | 62.130 | Bill Belovay | (A Top Pick June 26/06. Up 59.8%.) Have quite a bit of growth profile ahead of them, 36%-37% over the next 1.5-2 years. | 2006-11-29 | |
| BUY | 54.770 | Peter Hodson | Volatility because of sector rotation by investors. Investors are not sure if they want to be long or short on copper. This is a great company. | 2006-11-20 | |
| BUY | 52.150 | Michael Sprung | Has been a great company to be in. Into a number of metals. A well diversified play. | 2006-11-14 | |
| HOLD | 53.100 | Robert Floyd | Base metals have done so well that he is taking money off the table as they report. Traditionally is their seasonally strong time but he is looking for a slow down and not sure if India/China will be strong enough to overpower any North American decline. | 2006-11-13 | |
| BUY | 56.400 | Ian Nakamoto | Reserves of zinc are almost nonexistent. | 2006-11-07 | |
| PAST TOP PICK | 55.400 | Peter Gibson | (A Top Pick Sept 20/05. Up 185%.) Still undervalued. Has one of the lowest P/E’s because of the spectacular profit growth. | 2006-11-03 | |
| HOLD | 55.900 | Chris Smith | Focused primarily on copper. Getting a little concerned on how far this has gone. What is going to drive base metal stocks further, has to be a re-rating of the multiples. If you own, you might consider taking some profits. | 2006-10-25 | |
| PAST TOP PICK | 53.500 | Bill Belovay | (A top Pick June 26/06. Up 38.8%.) Still likes. | 2006-10-24 | |
| BUY | 53.000 | David Baskin | World shortage in zinc and cannot be easily made up. Hud Bay (HBM-T), Eurozinc (EZM-T) and Inmet (IMN-T) have tremendous leverage to base metals. The demand for raw materials coming out of emerging-markets is astonishing. | 2006-10-23 | |
| BUY | 50.950 | John Zechner | This one depends on your outlook of commodity prices, but with the disappearance of some of the big names, people in Canada are desperate for midsize producers with growth and exposure to metals. Potentially a takeover target. | 2006-10-16 | |
| TOP PICK | 45.680 | David Baskin | All 3 Top Picks are tremendous cash flow generators that are not getting any respect from the market. They have copper, zinc and gold. Believes that base metals near or at the top of the cycle, which is why this is trading at only 6 X earnings. Tremendous amount of cash on the balance sheet. A possible takeover target. | 2006-08-24 | |
| PAST TOP PICK | 46.180 | Peter Gibson | (A Top Pick Aug 5/05. Up 142%.) Believes we are only 60% of the way through a commodity and economic cycle and these stocks tend to perform better later in the cycle. Valuation looks great. Has spectacular margin and volume/asset turnover improvements. | 2006-08-18 | |
| BUY | 42.000 | David Baskin | This one gives you exposure to base metals. | 2006-07-27 | |
| TOP PICK | 38.410 | Bill Belovay | A long-term hold. In copper and zinc, which he likes very much. Will be doubling its copper production over the next 2 years. Very good management. Very credible deposits. Good growth profile. Could be a takeout. | 2006-06-26 | |
| BUY | 39.960 | Ross Healey | His current fair market value is very high at around $170, but commodities are way up on spikes and prices won't hold long-term. Interesting company, and lots and lots of value. | 2006-05-29 | |
| TOP PICK | 45.550 | Bill Belovay | A well diversified company with copper, zinc and gold. Won't be around for too long. Someone is going to buy this company. Has solid cash earnings. | 2006-05-11 | |
| BUY | 42.650 | David Baskin | Leverage on copper is four to one, and this is why the stock has done so well. Also, 20% of their output is zinc with a little bit of gold as a by-product. Not trading at a high multiple of what its earnings are likely to be this year and 2007. | 2006-04-18 | |
| BUY | 35.820 | David Baskin | Copper and zinc are at record prices and gold is doing well. This is the reason for the growth in the stock. Not overpriced. | 2006-03-27 | |
| PAST TOP PICK | 31.700 | David Baskin | Up 14%. Still a believer in this stock. Company is a copper, gold and zinc producer. Company is a strong performer. Copper and zinc prices are very solid. They are holding. | 2006-02-28 | |
| BUY | 30.810 | David Baskin | Copper and zinc are at all-time highs. The company is doing very well as a result of this. | 2006-01-19 | |
| BUY | 30.500 | Gavin Graham | There is more upside to this one. Likes the base metals. Has some good new properties coming on. | 2006-01-09 | |
| TOP PICK | 27.670 | David Baskin | The price of copper is at an all-time high. Trading at 8 X earnings. Should go into the mid-$30’s. | 2005-12-19 | |
| WAIT | 28.000 | Peter Gibson | Has gone up a little too quickly for him. Its gold and copper look interesting, so likes it longer term. | 2005-12-09 | |
| TOP PICK | 19.250 | Peter Gibson | Primarily gold and copper exploration company. Has the highest level of profitability it's recorded in 10 years. Rate of growth is spectacular. | 2005-09-20 | |
| TOP PICK | 19.000 | Peter Gibson | Mining company and exploration development, mainly copper and gold. Copper prices expected to stay fairly high. Looking for gold at $480 an ounce, probably by year end and higher next year, based on the US$ devaluation, weakness in Europe, questions about the Euro's existance, large savings in Japan. ROE level's around 23% and growing rapidly. | 2005-08-05 | |
| BUY | 18.800 | Martin Hubbes, CFA | Prefers over Inco (N-T) as they can get more growth. | 2005-08-02 | |
| VAGUE | 18.210 | Laura Wallace | Copper is considered a very good indicator of economic strength because it's used so much in building. Between this and Falconbridge (FAL.LV-T), if she bought, would prefer Falconbridge because of the nickel exposure. | 2005-07-25 | |
| PAST TOP PICK | 16.510 | David Baskin | (A Top Pick Apr 21/05. No change.) Still likes it. Copper's at an all time high. Still buying. | 2005-06-23 | |
| WEAK BUY | 15.730 | Brian Acker, CA | Regarding cyclicals, you are not going to see a valuation increase that you saw before. The mean estimates on earnings for this company is $2.30. These earnings will go on their balance sheet so a year out, the price target would be $20.70. Never buy a cyclical on a P/E basis. Still looking at a great rate of return, but you'll just have to be patient. | 2005-06-09 | |
| BUY | 15.290 | David Baskin | Some base metal stocks that offer upside are Inco (N-T), Teck Cominco (TEK.SV.B-T) or Inmet Mining (IMN-T). | 2005-05-24 | |
| TOP PICK | 16.530 | Robert Lyon | A dirt-cheap stock. Copper stocks have been beaten up a little too hard. New Spanish acquisition will not be in production for a couple of years and this could add between $1 and $2 per share. No debt. Pristine balance sheet. Trades at under 3 X EBITDA. | 2005-05-04 | |
| TOP PICK | 16.600 | David Baskin | Primarily a copper play. Had problems with their mine in Turkey which caused them to miss their last quarter. Copper prices are at an all time high. A screaming Buy. Cash on the balance sheet. Very strong. Believes they will solve their problems. | 2005-04-21 | |
| TOP PICK | 18.100 | David Baskin | A huge play on copper. Stock is down because of some geological problems in Turkey and fell short of targets. Trades at a very low multiple of earnings. Has a wonderful balance sheet. Terrifically strong position. Making lots of cash. | 2005-04-11 | |
| WEAK BUY | 18.500 | Ross Healey | It's basically politics and geology versus fair market value. Lots of upside to the company, but sometimes politics and geology are not compatible. | 2005-04-07 | |
| DON'T BUY | 19.850 | John Zechner | Not too bullish on metal stocks. This one has struggled in this cycle. Not a lot of growth at this time. Wouldn't be his first choice in any case. | 2005-03-09 | |
| BUY | 19.070 | David Baskin | problems with mining copper, but price of copper is continually increasing. A fan of IMN. | 2005-02-28 | |
| STRONG BUY | 16.500 | David Baskin | A ggod time to buy copper stocks. Near a multi year high and continues to be in demand. Inmet is a screaming buy under $17. | 2005-02-08 | |
| DON'T BUY | 21.150 | Glenn MacNeill, P.Eng. | Good management and good assets, but not undervalued. Reflects the copper markets at the moment. Prefers others because of the valuation. | 2004-12-29 | |
| TOP PICK | 18.490 | David Baskin | Last quarter was kind of lousy because they ran into some ecological problems in a couple of their mines. Copper prices continue to be very strong. Should have a really terrific quarter. | 2004-12-16 | |
| DON'T BUY | 19.550 | Mark Jackson, CFA | The real issue, although it has some quality copper projects, growth is going to be difficult to come by. They tried to do an acquisition/merger with Aur Resources. Would prefer others like First Quantum Minerals. | 2004-12-07 | |
| BUY | 19.550 | David Baskin | Likes. Expect to trade out of this group in 6/8 months. | 2004-11-15 | |
| BUY | 21.200 | David Baskin | A great company. Have just purchased the 45% of their Turkish copper mine form that government. | 2004-10-12 | |
| PAST TOP PICK | 18.350 | David Baskin | (A Top Pick June 17/04. Up 7.5%.) Still likes. Inventory levels of copper are still low. | 2004-09-09 | |
| PAST TOP PICK | 19.020 | David Baskin | (Past top pick June 17/04. Up 6%.) Had some problems with their quarter, some shipments got deferred so their quarter numbers looked a little soggy, stock dropped so he bought more. | 2004-07-29 | |
| BUY | 17.690 | Ian Nakamoto | Has continued to produce very good results, but the year-to-date stock price performance has been very huge. People have had very high expectations and has slowed down a bit. Relatively inexpensive. | 2004-07-27 | |
| BUY | 17.090 | John Zechner | Likes the deal they are doing with Aur. Also likes their positioning in zinc and copper. Likes the metal markets over the next couple of years. | 2004-06-23 | |
| TOP PICK | 17.170 | David Baskin | (Past top pick May 14/04. Up 4%.) A play on base metals and will be volatile. Major merger coming with Aur Resources creating a huge debt-free company. | 2004-06-17 | |
| VAGUE | 16.900 | Lawrence Roulston | Both Aur and Inmet are merging which is positive. There should be synergies as well as a following by institutional levels. He doesn't follow either of these companies. | 2004-06-09 | |
| BUY | 17.300 | Bill Harris | Good leverage. Doesn't think it's over yet but is taking a break here. Well-run. | 2004-06-04 | |
| BUY | 17.500 | David Baskin | Feels that all the base metals offer really good opportunity. Prices have come down. Inventories are low. | 2004-06-02 | |
| VAGUE | 15.620 | Bruce Campbell | Merging with Aur which will make it a major copper producer. | 2004-05-18 | |
| TOP PICK | 16.240 | David Baskin | The merger with Aur gives you a really strong company. Copper fundamentals are pretty strong right now. Likes both managements. A screaming buy. | 2004-05-14 | |
| VAGUE | 16.300 | John Embry | Both Aur and Inmet are fine companies and likes both managements. This merger will create a major Canadian copper company. Copper prices could pull back further. The question is, do you buy now or later. | 2004-05-11 | |
| BUY | 15.600 | Rob Callander | The Aur and Inmet merger will be great. After this merger is complete, they will probably do a further merger. | 2004-05-10 | |
| BUY | 17.730 | Laura Wallace | Like other metals stocks, got whacked. Copper is an economically sensitive metal. Has good leverage to copper. Well-run company. | 2004-05-04 | |
| BUY | 17.980 | David Baskin | There has been a selloff on all the base metals in the last few weeks. This has been based on sentiment and profit-taking, not fundamentals. A very solid company. | 2004-04-13 | |
| BUY | 17.980 | Mark Jackson, CFA | Feels that the fundamentals for commodities still have support with a stronger growth in the US economy. The drop in price is a good opportunity to buy. | 2004-04-13 | |
| BUY | 20.750 | David Taylor, MBA, CFA | A fellow portfolio manager loves his company and claims it is cheap. | 2004-04-06 | |
| DON'T BUY | 20.750 | Ian Nakamoto | Treading water at the moment. Extremely low P/E. well-run. Prefers Falconbridge. | 2004-04-06 | |
| HOLD | 19.050 | Michael Smedley | The question is, how far can the metals go. Probably a good hold for the long-term. | 2004-03-23 | |
| BUY | 21.450 | David Baskin | A terrific company. Should do very well. The earnings that came out in February were absolutely terrific. Feels this Company will go from strength to strength. | 2004-03-01 | |
| BUY | 16.510 | Mike Weir | They have a large amount of cash. Not dependent on one single metal. Should do quite well going forward based on a better expectation of a commodity outlook. | 2004-01-26 | |
| BUY | 17.710 | Peter Hodson | Copper inventories are getting squeezed right now. Have a lot of cash. Also likes Aur Resources | 2004-01-23 | |
| BUY | 17.980 | Gavin Graham | Metals stocks could be taking a breather for a while. Asia will continue to create a strong demand. | 2004-01-14 | |
| DON'T BUY | 18.560 | Benj Gallander | Too expensive for their interests. They don't follow it anymore. | 2004-01-09 | |
| TOP PICK | 15.950 | Mike Weir | They have long life assets. They have an opportunity for growth in Turkey. Have a lot of cash. | 2003-12-22 | |
| BUY | 14.400 | David Burrows | An attractive company. Has had a huge move up so there is risk of pullback. | 2003-12-03 | |
| BUY | 11.280 | Robert Lyon | Pretty good copper and gold producer. Have restructured and their costs have come down. Litigation with Barrick gold seems to be going their way. Should be a good bet over the next 18/24 months. | 2003-11-10 | |
| DON'T BUY | 7.150 | Benj Gallander | On their watch list, but not of interest to them at this time. | 2003-07-17 | |
| BUY | 6.750 | Robert Lyon | Made some good changes in the past few years. Cleaned up their assets. Very strong balance sheet. If copper moves, it should move up too. | 2003-05-05 | |
| DON'T BUY | 5.600 | Bruce Campbell | Should win lawsuit with Barrick. Prefers Aur. | 2002-12-11 | |
| BUY | 4.800 | Robert Lyon | Waiting for a court case to end. Some upside left in copper. | 2002-03-07 | |
| PAST TOP PICK | 2.390 | John Embry | (Was a top pick on Aug 1 down 2.5%) Still likes. Very cheap. | 2001-11-07 | |
| DON'T BUY | 2.390 | Fred Sturm | Inexpensive, but will not be a leader in gold. | 2001-11-01 | |
| PAST TOP PICK | 2.450 | Ray Steele | (Was a top pick on May 1 almost even) Sold in June. Still likes mines. Cyclical. | 2001-10-03 | |
Experts that have talked about Inmet Mining
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