| DON'T BUY | 8.210 | Michael Simpson, CFA | Zinc processing facility in Quebec. Not favourable on the price of zinc going forward. Distributions will depend on the cash flow they can generate. | 2008-05-14 | |
| BUY | 10.200 | Patrick Kim | Zinc refinery in Quebec. Stock does not swing widely with the commodity price. Very stable, visible cash flow stream. | 2007-11-02 | |
| Comment | 11.030 | Andrew Guy, CFA | 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. | 2007-07-27 | |
| BUY | 11.340 | Michael Decter | Likes the zinc business generally. There is a possibility that it gets bought in with the acquisition of Noranda. Good solid business. 9% distribution. | 2007-06-20 | |
| PAST TOP PICK | 10.600 | Michael Sprung | (A Top Pick Jan 6/06. Down 10.2%.) Primarily smelting of zinc. Largest in North America. Some question on the loss of clients, but so far are maintaining their earnings and distributions. | 2006-12-08 | |
| PAST TOP PICK | 12.550 | Michael Sprung | (A Top Pick Mar 23/06. Down 1%.) This is a play on smelting which is currently in short supply. Will be a very steady producer over the next few years. | 2006-07-18 | |
| WEAK BUY | 12.590 | Michele Robitaille | Nice, steady, stable performer. Had a run-up earlier this year on the basis that an increase in distributions would be forthcoming. Relatively fairly valued. Great, long-term holding. | 2006-04-26 | |
| BUY on WEAKNESS | 13.120 | Robert Lauzon | Has a 30 year subordination agreement of the cash flow so a stable trust. Present price may be a little ahead of itself. Would buy below $13. | 2006-03-24 | |
| TOP PICK | 13.170 | Michael Sprung | They have a zinc processing plant in Quebec and his outlook for zinc is very positive. Approximate 8% yield. On a P/E basis, it is trading at about 15 X’s. | 2006-03-23 | |
| HOLD | 13.200 | Kevin Hall BComm, CFA | Very stable and very predictable. Zinc processor. Have very good long-term contracts in play. Won't be a big growth trust. Fully valued. | 2006-02-17 | |
| DON'T BUY | 11.700 | Ross Healy | Not a fan of income funds as, long-term, they have some risk that really worry him. This one has a decent yield but hasn't gone anywhere. In a good market, this would ring alarm bells. | 2006-02-06 | |
| Comment | 11.990 | Ben Stadelmann | It's in the wonderful space of commodities. A well-run company. This is an income fund, and if the price of commodities goes down, how will this affect the cash flow and future distributions. | 2006-01-30 | |
| TOP PICK | 11.800 | Michael Sprung | Likes basic commodities right now, particularly the materials. Outlook for copper and zinc are particularly good. This one is really a play on zinc. They have the 2nd largest smelter in North America located in Quebec. Payout ratio is about 70% which is good. Margins on smelting our particularly good at this time. | 2006-01-06 | |
| BUY | 10.750 | Kevin Hall BComm, CFA | Very stable and very predictable distribution. They have no commodity price exposure. Won't have much growth in it. Will be somewhat sensitive to rising interest rates. | 2005-10-28 | |
| BUY | 11.150 | Michael Sprung | Well organized and constructed. Likes the outlook for materials going forward. Has had a bit of a hiccup lately along with all of the trusts. Longer term, this one is capable of producing a fairly consistent cash flow. | 2005-10-11 | |
| BUY | 12.110 | Greg Guichon | Sold their position in this trust. Saw other trusts that had a better growth profile. This one has a very stable distributions. | 2005-09-09 | |
| BUY | 12.530 | Michael Sprung | Likes the longer term commodity outlook here. Fairly well priced at the moment. 8% yield. | 2005-06-24 | |
| STRONG BUY | 12.360 | Robert Lauzon | Has a long term agreement with Noranda (NRD-T) to process their zinc. Low volatility and not affected by zinc prices. 8.5% yield. Great Buy. | 2005-06-17 | |
| BUY | 12.110 | Kevin Hall BComm, CFA | Have been buying when it fell below $12. A very stable income trust. Has a lot of subordination built into it. 25/30% of the fund is owned by Noranda. Very little, if any, exposure to the commodity price. The one knock against it is that it is a one facility type of fund. | 2005-05-06 | |
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| VAGUE | 12.370 | Kevin Hall BComm, CFA | Noranda, the parent, owns 25%. There is a 15 year supply agreement to supply raw zinc to Noranda, so if Noranda is sold, the income fund is protected. | 2005-02-04 | |
| DON'T BUY | 9.740 | Peter Brieger | Reserve life is limited. Prefers Noranda Mines. | 2003-01-15 | |
| WEAK BUY | 9.940 | Sandy McIntyre | Very efficient plant. Easy transportation. Not bad. If you are bullish on zinc, buy Noranda direct. | 2002-08-12 | |
Experts that have talked about Noranda Income Fund
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