Globe says Zechner believes Yamana is undervalued

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2009-10-07 09:17 ET - In the News

The Globe and Mail reports in its Wednesday, Oct. 7, edition that J. Zechner Associates chairman John Zechner recommends buying Yamana, which he considers cheap. Anwar Ali writes in The Globe's BNN Market Call column that Yamana stock jumped 85 cents to close Tuesday on the Toronto Stock Exchange at $12.05.

The stock has a 52-week range of $4.29 to $13.01. Mr. Zechner says, "Yamana remains one of the more undervalued stories among the mid-tier gold producers with strong copper byproducts and excellent production growth." In his general outlook Mr. Zechner says: "Our bullish outlook reflects our positive view of the impact of stimulus programs, low interest rates, the amount of money 'on the sidelines,' and that we are past the worst of the economic cycle. But markets have gained over 50 per cent from their March lows and economic data won't improve quickly, leading us to reduce exposure to financials. We're overweight positions in the resource sector."

The stock was trading at $10.49 on June 17 when The Globe's Scott Adams said Yamana appeared to be inexpensively priced. The Globe reported on April 15 that Sprott managers Charles Oliver and Jamie Horvat were bullish on Yamana. It was then trading at $9.90.

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Globe says Uranium One won't deplete you of profits 2009-10-06 07:12 ET - In the News The Globe and Mail reports in its Tuesday edition that Middlefield Capital manager Rob Lauzon believes Uranium One is nicely priced. Anwar Ali writes in The Globe's BNN Market Call column that Uranium One stock advanced 17 cents to end Monday on the Toronto Stock Exchange at $2.65. The stock has a one-year range of 60 cents to $4.07. Mr. Lauzon says: "Uranium One currently trades below our net asset value estimates. It's one of the few publicly traded uranium equities with near-term production growth visibility." In his general outlook Mr. Lauzon says: "Given the strength in equity markets, investors will be less forgiving in the coming quarters on any signs the recovery is stalling. The economy must now validate the equity market rally. Despite recent weakness, we expect resource equities to lead markets higher supported by continued low interest rates and favourable demand/supply balances. We would overweight oil and natural gas in portfolios, while maintaining a position in gold as it has proven to be a haven in both deflationary and inflationary environments." Marquest Asset Management manager Andrew Cook recommended buying Uranium One in the BNN column on April 28. The stock was then trading at $3.42.