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Gold/Mining/Energy : ASARCO (AR) -- Ignore unavailable to you. Want to Upgrade?

To: Jyoti sharma who wrote (24)12/22/1997 8:50:00 PM
From: Patrick J. Saunders  Read Replies (1) | Respond to of 58
 
Jyoti,
Copper prices are down, I would expect a rebound after the Asian
concerns die down a bit. PCU is a better pick now than AR, because
of its dividend. Also, PCU will probably rebound (price wise)
with increases in copper, more so than AR. What do you think? Pat



To: Jyoti sharma who wrote (24)12/22/1997 8:52:00 PM
From: Sterling  Read Replies (1) | Respond to of 58
 
Jyoti,

I like Asarco for several reasons:

1. Low cost producer with forward sales hedged against further
copper declines.
2. Stock buyback and shedding of non-producing assets.
3. Good buy point in the chart at this level.
4. Dividend is reasonable.

But what happens to the price if the dividend is cut (as with FCX)?
I think it might be a better buy in the $18 - $19 range. Does that
sound possible?


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