FNX Mining Company Inc (C:FNX)
Shares Issued 84,019,238
Last Close 5/22/2007 $30.20
Wednesday May 23 2007 - In the News
Also Aur Resources Inc (C:AUR) In the News
Also First Quantum Minerals Ltd (C:FM) In the News
Also HudBay Minerals Inc (C:HBM) In the News
Also Inmet Mining Corp (C:IMN) In the News
Also Teck Cominco Ltd (C:TCK) In the News
The National Post reports in its Wednesday, May 23, edition that BMO Financial Group analyst Don Coxe is one of the biggest bulls around on base metals and other commodities. The Post's Sean Silcoff writes that puts Mr. Coxe at odds with a lot of skeptical market watchers. They believe that after a few hot years, prices for zinc, copper and nickel will fall, and fall hard. Mr. Coxe does not believe it. Neither does his disciples Steve Laciak. In fact, Mr. Laciak has invested a full 20 per cent of his portfolio in base metal companies. He believes that firms in the business of extracting base metals from the ground have just started basking in high metal prices and earnings. And he believes that the market does not love them nearly as much as they will, eventually. "I believe that the pricing will stay strong and these stocks will be revalued upwards," Mr. Laciak says. He cites Aur Resources, First Quantum Minerals, FNX Mining Company, HudBay Minerals, Inmet Mining, and Teck Cominco as those most likely to benefit from an increase in valuation multiples. Those stocks currently trade for between five and seven times earnings, net of cash. Mr. Laciak predicts the multiples will rise to above 10.
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