Bought a few today.Oversold imo
Millennium Iron Corp (C-NML) - In the News
Globe says BMTC Group, others have cash and no debt
2012-11-22 08:48 ET - In the News
Shares issued 179,011,646
NML Close 2012-11-21 C$ 1.01
From In the News (C-GBT) BMTC Group Inc
The Globe and Mail attempts to identify cash-rich companies with no debt along with a few added measures of safety in its Thursday edition. The Globe's Ian McGugan writes in the Number Cruncher column that he employed the services of S&P Capital IQ sales director Jamie Hynes. They considered only companies with zero debt. They looked for firms with total cash and short-term investments of at least 10 per cent relative to total assets. Companies had to have a market capitalization of more than $100-million. Revenue and free cash flow needed to be greater than zero. To make sure these companies were not stockpiling cash because of obvious product challenges or legal problems, Mr. Hynes also added two qualitative factors: each firm had to have an average analyst recommendation of "hold" or better. As well, companies involved in lawsuits or legal issues over the past 12 months were excluded. Cash-rich companies with no debt that made it onto Mr. McGugan's recommended list are BMTC Group, Calvalley Petroleum, Alamos Gold, Sandvine, Silvercorp Metals, Aurizon Mines and New Millennium Iron. Mr. McGugan advises readers to do their own research before buying any of his recommended stock picks.