Over at The Motley Fool, Rupert Hargreaves has pondered whether Eurasian Natural Resources is a good buy (or a “goodbye” — my pun, not his) at today’s ~270p-per-share. Fundamentally (another pun) he thinks it’s not a good buy.
Meanwhile over at Spread betting Magazine, ENRC was listed as a “Conviction Buy” at 334p-per-share at the end of last month, so presumably it’s even more of a “conviction buy” now. Yes, I know I have connections with Spread Betting Magazine, but it wasn’t one of my recommendations. Then again, it could be, because I last sold ENRC (by stopping out) at a higher price, so today’s price afforded me the opportunity to re-purchase the same stock at a discount. Sell high, buy low.
The 2009 low price of ~183p-per-share worries me, but…
A trader friend of mine reckons there’s some good profit to be made on ENRC and some of the other beaten-down miners over the coming year; perhaps regardless of what happens over the next few days or weeks.
To buy or not to buy: the choice is yours.
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Disclaimer: this posting is for general education only; it is not trading advice.