RE: this one has performed likecibc loves it. while they reduced their price target, in early november, from $14 to $13, they have named it as their top pick for yield focused investors.
- they have a nav of $15.36 on it
- "nal has a reasonable balance sheet, with an estimated total debt to cashflow ratio of 2.3x (versus the group average of 2.1x; with 61% of its 550 million credit facility currently drawn (versus the group average of 50%)"
no mention of any possibility of a divy cut.
cibc also released, today, their 102 page Resource Play Watch Report. If I find anything interesting pertaining to NAL I'll post it.
This is starting to feel a lot like DAY. I dont necessarily buy the "share price was walked down by the chinese to get DAY on the cheap" conspiracy theory, but if nae gets a takeout offer soon I'll have to rethink my aversion to conspiracy theories.
One thing I did notice, again according to cibc, 30 days ago there seemed to be 7 outperforms, 19 holds, 1 underperform and 2 sells on nae. Yesterday those numbers were 2 outperforms, 11 holds, 1 underperform and 1 sell. I'm not sure why 30 days ago there were 29 analysts following nae but as of yesterday there were only 15, according to cibc.