Noront Resources
High-grade Ni-Cu-Pt-Pd-Au-Ag-Rh-Cr-V discoveries in the "Ring of Fire" NI 43-101 Update (March 2011): 11.0 Mt @ 1.78% Ni, 0.98% Cu, 0.99 gpt Pt and 3.41 gpt Pd and 0.20 gpt Au (M&I) / 9.0 Mt @ 1.10% Ni, 1.14% Cu, 1.16 gpt Pt and 3.49 gpt Pd and 0.30 gpt Au (Inf.)
Monday, October 20, 2008
Presented by
Dundee recommends exiting Canadian asset managers
Reuters Published: Monday, October 20, 2008
Dundee Securities recommended investors to exit "most of the stocks" in the Canadian asset management sector citing a decline in securities valuations which has resulted in lower assets under management levels for the industry.
The brokerage, which has a negative stance on the sector, slashed its ratings and price targets on four companies.
"We are now forecasting additional negative investment performance through the rest of the year, reverting to only modest gains in 2009," analyst John Aiken said in a note to clients.
Dundee expects net sales in the sector to trail off through the rest of the year as market volatility and concerns about near term cash requirements force some retail investors to exit.
The brokerage said it will take some time for the asset managers' profitability to re-align with a lower level of assets under management.
"In the near term, fixed costs and absorbing expenses to maintain competitive management expense ratios, will reduce profitability levels until cost reduction programs can be implemented," Mr. Aiken added.
© Thomson Reuters 2008
Please
login
to post a reply
irish1111
City
Toronto
Rank
President
Activity Points
18412
Rating
Your Rating
Date Joined
03/17/2008
Noront Resources
Symbol
NOT
Exchange
TSX-V
Shares
326,029,076 As of Jan 17, 2017
Industry
Metals & Minerals
Website