AMTD in, EZM out, and NXG interesting..
Quick break from work ... My last post mentioned OXPS and AMTD as potential buys. I decided to wait on OXPS and bought AMTD at $17.11. I had a chance to buy in OXPS at ~$26.5 but I read a bearish S&P report that it will stiff competition from the other brokers and its margins will compress over the next 12 months. Hoping this isn't a mistake, but OXPS now in a holding pattern..
EZM popped from a close of $2.1 yesterday to a high of $2.46 mid-day with the commodities price spike today (Copper was above the $3.8 mark at one pt). As much as I like EZM, this bounce is unnatural (yeah, the alarm hit my head pretty hard this time around). Sold at $2.44, looking to buy back in the $2.1's. Still believe this is a potentially good company.
NXG is a stock that I used to own (and made a very bad mistake on, which I'll write about in a future point). Today, they announced they will acquire AZK for C$3 in a share swap. NXG is down ~4% in a fairly bullish day for commodities stocks. However, if NXG can pull this off without being rejected or thrown into a bid war, NXG may be a good play. One of the biggest worries investors have with NXG is that their Kemess-South property will run out before their Young-Davidson or Kemess-North can be brought up to production. With AZK's upcoming production at the Casa Berardi mine later this year, this will fill the gap and line up a set of producing properties for NXG. Add in NXG's great management, this could become the first stock that I will buy and hold onto for long term. I am waiting to see how this shakes out. AZK is now trading above the takeover price ($2.91 or ~C$3.25 in afterhours), so NXG may be pressed to raise the bid. I hope NXG had been accumlating AZK before this announcement..
EZM popped from a close of $2.1 yesterday to a high of $2.46 mid-day with the commodities price spike today (Copper was above the $3.8 mark at one pt). As much as I like EZM, this bounce is unnatural (yeah, the alarm hit my head pretty hard this time around). Sold at $2.44, looking to buy back in the $2.1's. Still believe this is a potentially good company.
NXG is a stock that I used to own (and made a very bad mistake on, which I'll write about in a future point). Today, they announced they will acquire AZK for C$3 in a share swap. NXG is down ~4% in a fairly bullish day for commodities stocks. However, if NXG can pull this off without being rejected or thrown into a bid war, NXG may be a good play. One of the biggest worries investors have with NXG is that their Kemess-South property will run out before their Young-Davidson or Kemess-North can be brought up to production. With AZK's upcoming production at the Casa Berardi mine later this year, this will fill the gap and line up a set of producing properties for NXG. Add in NXG's great management, this could become the first stock that I will buy and hold onto for long term. I am waiting to see how this shakes out. AZK is now trading above the takeover price ($2.91 or ~C$3.25 in afterhours), so NXG may be pressed to raise the bid. I hope NXG had been accumlating AZK before this announcement..
posted by bill at
5/23/2006 04:57:00 PM
1 Comments:
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