Rainmaker (T:RNK) Announces Q1 Results - $0.09 EPS Message Board

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Gold/Mining/Energy : Rainmaker (T:RNK) Announces Q1 Results - $0.09 EPS

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To: Praxis who wrote (11)	2/10/1998 6:18:00 PM
From: Praxis	Read Replies (1) of 73

Global Securities has initiated coverage on RNK with a buy rating. Earnings expected to be in at .30/sh with .35/sh in 98(basic). Rev. for nine months ended Sept.30 increased 67% to $18.4 mil. No debt on balance sheet and cash of $7.8 mil, plus annual cash flow of $10 mil, it is also buying back 500,000 shares in a normal course issuer bid which will take 4.8% of the total outstanding. The stock seems awfully undervalued, especially last week. This seems like a nice long term growth stock to me, anybody else have an opinion on this? Marcel Brichon is forecasting a 12 month target of $6, with these figures I get a target of $7.20. I guess he is just being really conservative with his estimates. I hear they have a backlog into 00.

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