Top stock picks for November
By Motley Fool Staff - November 1, 2013 Tim Roberts: Atlas Iron (ASX: AGO)
Atlas is my pick in the iron ore sector. Despite an 18% rally for the month, the stock remains undervalued compared to its peers. Atlas released its quarterly report during the month; key highlights included:
•Record 2.5 million tonnes shipped during the September quarter
•EBITDA of $91 million during the September quarter
•Gross cash reserves of $378 million
•Mining costs of $49-53 per tonne (ready to be shipped)
The strength of the quarterly results provides confidence Atlas will achieve or beat FY14 guidance of 10 million tonnes of shipped iron ore. While China continues to grow, I will continue to recommend Atlas as a buy.
ago is top pick for november
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