JustforFun7
RE: “they are a copper miner and junior copper miners don't get that sort of P/E multiple.”
Unfortunately, your statement does nothing more than to reveal your ignorance.
Earlierthis year, shortly after ML was selected for inclusion in the TSX Composite Index, they were also included in an even more select index, S&P/TSX Capped Diversified Metals Index. The Index includes the cream of the crop, and is limited to a membership of only 19 companies.
(For comparison sake, the chart at the bottom shows ML's one-year performance vs. a ramdomly selected sample from its peer group.)
Here is the full list:
AVM.TOANVIL MINING LTD COM NPV8.93
ELR.TOEASTERN PLATINUM COM NPV2.44
EQN.TOEQUINOX MINERALS COM NPV3.96
FDG-UN.TO FORDING CDN COAL TRUST UNITS75.96
FM.TO1ST QUANTUM MINLS COM NPV67.24
FNX.TOFNX MINING CO INC COM NPV20.30
FRG.TOFRONTEER DEVELOPME COM NPV4.89
HBM.TO HUDBAY MINERALS IN COM NPV12.20
IMN.TOINMET MINING CORP COM NPV63.15
IVN.TO IVANHOE MINES COM NPV11.40
LUN.TOLUNDIN MINING CORP COM NPV5.48
MDI.TOMAJOR DRILLING INC COM NPV45.52
ML.TOMERCATOR MINERALS COM NPV10.06
QUA.TOQUADRA MINING COM NPV21.40
S.TOSHERRITT INTL CORP COM NPV13.47
SVM.TOSILVERCORP METALS INC4.95
TCK-B.TOTECK COMINCO LIMITED CL B
TCM.TOTHOMPSON CREEK MET COM NPV16.60
TIM.TOTIMMINCO LTD24.61
