BMO Research is initiating coverage of Taseko Mines with an Outperform rating. Taseko is a copper and molybdenum producer with operations and projects located in British Columbia, Canada. Taseko is an expanding copper dominated producer expected to produce 35,000t in 2009, increasing to over 45,000t in the next two years. Relative to its copper peers, Taseko trades at a discount on a number of metrics. The recently strengthened balance sheet and low-cost growth make the stock appealing. Profit over the next year is forecast to more than triple to US$60M in 2010, with the shares currently trading at an attractive P/E of 4.3x and an EV/EBITDA of 2.2x.
You can obtain a copy of the full report by emailing BrianBergot@Tasekomines.com and request copy
Thank you Peter for the the update.
Can someone please explain how the P/E of 4.3x works. I know it sounds good but I dont know what it means?
Also what is EV/EBITDA of 2.2x and how does this work?
-David
Investopedia is a very useful financial dictionary site which can help you out long term. Cheers.
http://www.investopedia.com/dictionary/default.asp
David
EBITDA
Earnings Before Interest, Taxes, Depreciation appreciation
Mark Leibovit, chief market strategist, VR Gold Letter had two top picks yesterday with BNN interview
http://watch.bnn.ca/the-close/june-2009/the-close-june-25-2009/#clip187264
NAK – easily $10-15.
CEF – $16-20
Peter, thank you for the update.
Any take on potash juniors WPX, KCL, API, and RAY?
Potentially Gold Market Moving Development ?
The House Of Representatives appears ready to pass the ‘Energy Tax Increase’ if it hasn’t already and that could be beneficial to Gold. Expect higher prices for everyting and a decline in the American Standard Of Living, benefiting overseas competitors.
A Congressman sent me a lengthy analysis of expectations, quoting studies that it will send electricity rates soaring along with Gasoline & derivatives, Natural Gas too. It will worsen the U.S. competitive position, destroying or sending a net 2.5 Million jobs overseas ‘EACH YEAR’ after a small increase in ‘Green Jobs’.
True it’s unclear if the bill has support of the Senate but there’s nothing that this ‘Renegade’ government could do to surprise me. You’d be mistaken to think that I harp upon politics just to annoy people. This ‘Energy Tax’ is just one of numerous developments that are destined to destroy the American economy. Before long, everyone will see that we are living with a monster called The American Government.
I’ll never understand how the people of America permitted this to happen. So sad.
Nice pop on CXX today at the end of the day. Up 17% with not to crazy of volume. I hope that will continue into next week. I guess not a lot of people selling at these levels. I know I was accumulating all the way down to $.18, and now I have a nice position with a dca of $.205. Let’s go CXX.
The “pop” your seeing in the sector is end of quarter dressings. Look at the slow volume, along with seasonal slow period, makes for a dull and “drip, drip, drip, market for the precious. Look at your charts, see the April Low? Now thats what your goal should be going forward. Hit your April low on your favorit flavor and pull them triggers.
There is a company in Oz hitting +7% copper consistently from surface over 150 metres with over 200,000 metres drilled already. That’s not a typo, seven percent copper. In all likelyhood will be next monster copper mine on planet earth. A stones throw from infrastructure, Xstata’s Ernest Henry Mine and Mount Isa Mines. I have no doubt one of the majors will take it over when all is revealed for billions of dollars and it’s capped like a minnow at present. Check the website for information and pictures of the copper drill cores. Truly astonishing.
Cudeco Limited
http://www.cudeco.com.au/
Stephen, thank your reply.
Lionhunter, I’m not ready to pull te trigger on Cudeco.
What do you make of the behavior of Barry Dawes and Wayne McCrae?
http://business.smh.com.au/business/getting-to-the-bottom-of-cudeco-20080504-2at7.html
Hi Brad,
Very unorthodox, unconvential and unique modus operandi from both CDU management and supporting brokers. Personally, Id like them to be more forthcoming but I suppose that they are trying to extract maximum value for their shareholders and protect them from a sub par takeover from one of the majors. I don’t think anyone can deny that Rocklnads truly is a remarkable copper deposit. How big it is and how rich it is,
is anybody’s guess. Tier 1 asset IMHO.
Suppose you just need to have some faith.