ARG.TO (ARREF)
I brought a small position in this undervalued copper minner at $1.085. Here is what I like.
1) They earned .06 in q1 that is in USD for starters. Secondly they had almost a 800k write down that was one time in nature, and almost a 500k foreign exchange loss, which would of put earning more near .07 fully taxed.
2) Given cost guidance, and where the price of copper is now being almost 13% higher than q1 average copper prices. I expect earnings to be in the .08-.10 USD range rather easily.
Conclusion: If copper prices Hold I expect a eye popping comp in q2, and I expect this stock could run to new Highs on this. I think this is the cheapest way to play copper right now. Time will tell if I'm right, but this was one of the new stcoks I got a bit excited about lately, that is few and far between, as I see significant upside as I feel this stock is much cheaper than it's peers in my opinion. All is just my opinion, and I could always be wrong though.