P. 1
ValuEngine Detailed Valuation Report for AZC

ValuEngine Detailed Valuation Report for AZC

|Views: 0|Likes:
Published by ValuEngine.com
Advanced academic research that brings you superior investment strategies in an actionable format. The most comprehensive and useful report available. ValuEngine's three models: Valuation Model, Forecast Model and Ratings Model are incorporated to give you a well-rounded analysis from three different perspectives. Consensus EPS trend and Earnings Surprise statistics provide additional insights. Also, detailed Company Profile, ValuEngine Fair Valuation; 1-3-6 month and 1-2-3 yr forecasts, ValuEngine 1-5 Engine Rating, Multi-stock comparison, Financials, Earnings Estimates, Risk Assessment, Data Summary and much more.
Advanced academic research that brings you superior investment strategies in an actionable format. The most comprehensive and useful report available. ValuEngine's three models: Valuation Model, Forecast Model and Ratings Model are incorporated to give you a well-rounded analysis from three different perspectives. Consensus EPS trend and Earnings Surprise statistics provide additional insights. Also, detailed Company Profile, ValuEngine Fair Valuation; 1-3-6 month and 1-2-3 yr forecasts, ValuEngine 1-5 Engine Rating, Multi-stock comparison, Financials, Earnings Estimates, Risk Assessment, Data Summary and much more.

More info:

Published by: ValuEngine.com on Jan 06, 2011
Copyright:Traditional Copyright: All rights reserved
List Price: $25.00 Buy Now

Availability:

Read on Scribd mobile: iPhone, iPad and Android.
This book can be read on up to 6 mobile devices.
See more
See less

01/06/2011

$25.00

USD

pdf

VgluEngine

TM

DETAILED RESEARCH REPORT
Jan. 05, 2011

AUGUSTA RSRC CP(AZC)
VALUENGINE RECOMMENDATION & BASIC INFORMATION
4 ©ValuEngine.com 2011 4 4 3

3.000 2.500 2.000 1.500 1.000 .500 .000

RECOMMENDATION NEGATIVE underperform NEUTRAL match POSITIVE outperform

Volume (million)

Price
Rank btm 21% top 24% btm 38% btm 27% btm 20% top 46%

VALUENGINE RATING

2 2 2 1

RECOMMENDATION FACTORS Value Overall Rank Fair Value 1Yr Target Price P/E Ratio Last 1-Y Return Market Cap(bil) $4.03 $3.58 n/a -13.21% $0.48

0 0 2008 Close Price 2009 Model Price 2010 Volume Sell Hold

Buy

VALUENGINE RECOMMENDATION
ValuEngine has issued a HOLD recommendation for AUGUSTA RSRC CP on Jan. 05, 2011. Based on the information we have gathered and our resulting research, we feel that AUGUSTA RSRC CP has the probability to ROUGHLY MATCH average market performance for the next year. The company exhibits ATTRACTIVE expected EPS growth and market valuation.

BASIC INFORMATION Last Trade Trade Date Market Cap(bil) Trailing P/E Forward P/E PEG Ratio P/S Ratio M/B Ratio Sharpe Ratio 5-Y Avg Ann Return Volatility EPS Growth Annual Dividend Dividend Yield LT Debt/Equity Beta VALUATION ANALYSIS AZC Industry Sector Today's Fair value: $4.03 10.44% undervalued Mining-misc 49.84% overvalued Basic Materials 32.03% overvalued $3.61 01/04/11 $0.480321 n/a 120.33 n/a n/a 3.21 n/a n/a 92.24% 175.00% n/a n/a 0.28 2.66

RECOMMENDATION OVERVIEW
ValuEngine's stock recommendations are based on the proprietary ValuEngine one-year forecast return (1YFR) model output for each individual equity. A stock is rated Strong Buy, Buy, Hold, Sell, Strong Sell based on the Forecast One Year Return. The breakdown for each rating is as follows: • Strong Buy: More than +10% 1YFR • Buy: Between +5% and +10% 1YFR • Hold: Between -5% and +5% 1YFR • Sell: Between -10% and -5% 1YFR • Strong Sell: Less than -10% 1YFR ValuEngine's Strong Buy-rated stocks have an averaged annual return of 19% since 2001. For more details on the ValuEngine One Year Forecast Target price and its components, please go HERE.

FAIR MARKET VALUATION PRICE
Based on available data as of Jan. 05, 2011, we believe that AZC should be trading at $4.03. This makes AZC 10.44% undervalued. Fair Value indicates what we believe the stock should be trading at today if the stock market were perfectly efficient and everything traded at its true worth. For AZC, we base this on actual earnings per share (EPS) for the previous four quarters of -$0.04, forecasted EPS for the next four quarters of $0.03, and correlations to the 30year Treasury bond yield of 4.44%. There are an additional 10 firm specific and interest rate related parameters, each playing a role in the valuation analysis. For more details on ValuEngine's Fair Value Model, please go HERE.

FORECAST ANALYSIS 1-Month 3-Month 6-Month 1-Year 2-Year 3-Year Target Price $3.62 $3.60 $3.60 $3.58 $3.52 $4.03 Exp. Return 0.32% -0.18% -0.20% -0.91% -2.46% 11.56%

FORECASTED TARGET PRICES
The predictive variables used in Valuengine's forecast target price models include both proprietary and well-established forecasting variables derived from credible financial research studies and publications. Our forecasting models capture, among other things, several important tendencies that stock prices consistently exhibit: Short-term price reversals, Intermediate-term momentum continuation, and Long-term price reversals. We use a distinct forecasting model for each time horizon and for every industry. We then apply the most advanced statistical/econometric techniques to ensure that our stock return forecasts are as reliable as possible. For more details on ValuEngine's Fair Value Model, please go HERE.

Contact ValuEngine:
ValuEngine, Inc. 41 University Drive, Suite 400 Newtown, PA 18940, U.S.A. (800) 381-5576 (T) support@ValuEngine.com www.ValuEngine.com

Copyright © 1998 - 2011 ValuEngine Inc

1

AZC's average P/S is n/a. If its forecasted EPS growth is negative but its forward 4 quarter EPS is positive. AZC earned -$0. For each given stock.04 per share in its recent 4 quarters. and P/S ratio (price to trailing 4 quarter sales). Arizona. This is sometimes confusing to newcomers to ValuEngine. PLM and UEC. Comparables' P/S Comparables ANO GMO MDM PLM UEC Current P/S 2. Rosemont currently hosts a large copper/molybdenum reserve that may account for about 10% of US copper output once in production in 2011.VgluEngine BUSINESS SUMMARY TM DETAILED RESEARCH REPORT AUGUSTA RSRC CP(AZC) BUSINESS SUMMARY. the best time to buy would be below $7.03 for its 4-quarter-forward EPS. Let's take them one by one: • Valuation rank 77: 23% of stocks are more undervalued • Momentum rank 20: 80% of stocks have higher momentum • Sharpe Ratio rank -9999: 10099% of stocks have a higher Sharpe Ratio • 5-Year Average Annual Return -9999: 10099% of stocks have higher average annual return • Volatility rank 16: 84% of stocks have less volatility • EPS growth rank 91: 9% of stocks have greater projected EPS growth • Size rank 55: 45% of companies have higher market capitalization • P/E rank 27: 73% of stocks have lower P/E ratios • Price/Sales rank -9999: 10099% of stocks have lower price/sales ratios • Market/Book rank 36: 64% of stocks have lower market/book value ratios 2.00% 0. AZC's current price sales ratio is n/a. AZC earned -$0. EVALUATION & RANKINGS Valuation 12-Month Return 5-Y Avg Ann Rtn Volatility EPS Growth Market Cap(bill) Sharpe Ratio P/S Ratio M/B Ratio P/E Ratio Value -10.24% 175. PEG is the most informative as it reflects both the price/earnings ratio and expected future EPS growth. The best time to sell would be above $8.34 n/a n/a n/a n/a Fair Value Comparable Stocks' Avg P/S Comparable P/S-Based Fair Value n/a n/a Copyright © 1998 .21 n/a Rank 77 20 n/a 16 91 55 n/a n/a 36 27 1. P/E (price to forward 4 quarter earnings ratio). we apply the PEG to give a fair value assessment if both its trailing 4 quarter EPS and forecasted EPS growth rate are positive. DATA SUMMARY & MARKET RATIO BASED VALUATION MARKET RATIO BASED VALUATION Portfolio managers and professionals traditionally rely on market ratios to gauge whether a stock is fair valued or overvalued. divided by the consensus analyst forecasted next year EPS growth). In other words a high rank is always better. The analyst consensus estimate is $0. MDM.44% -13. AUGUSTA RESOURCE CORPORATION is a base metals company focused on advancing the Rosemont Copper deposit located near Tucson. AZC's current price sales ratio is n/a. Among the three. and (ii) the average market ratio today of five comparable stocks in the same sector and from companies of similar size.00%).06 (or valuation above 100. will propel Augusta to become a solid mid-tier copper producer within the next three years. we resort to the P/S to assess its fair value. To establish a valuation standard. the more positive the influence each measurement has on the overall attractiveness of the stock. Each of these quantitative measurements is ranked on a scale of 1 to 100. Otherwise. The following assessment is based on multiplying the historical P/S with recent 4 quarter sales per share for AZC.2011 ValuEngine Inc 2 .48 n/a n/a 3. On this page. These two alternative perspectives should give you a good idea about where this stock's valuation stands today. The company is traded on the American Stock Exchange and the Toronto Stock Exchange under the symbol AZC. Valuation Based on AZC's Past P/S Over the past 5 years. The current P/S average of these comparables is n/a. The exceptional experience and strength of our management team.21% n/a 92. we present such a valuation based on one of three market ratios: PEG (price to trailing 4 quarter earnings ratio.03 for its 4 quarter forward EPS. combined with the developed infrastructure and robust economics of this project. GMO. and on the Frankfurt Stock Exchange under the symbol A5R. Fair Value Historical Average P/S P/S-Based Fair Value n/a n/a EVALUATION & RANKINGS SUMMARY Just as important as the percentages shown for our ten predictive variables for each stock is the way they are ranked against the 7000 plus stocks in our database. we use both (i) the average historical market ratio of the stock over the past 10 years (or however long there is data available for the stock).86 (or valuation below 95.00%). we apply the P/E to give a fair value for the stock as of today. The analyst consensus estimate is $0. Generally the higher the ranking. Valuation Based on Comparables' P/S AZC's comparables are ANO. The following assessment is based on multiplying comparable stocks' average P/S today with AZC's recent 4 quarter sales per share . OPTIMAL BUY-SELL Based solely on the Historical Mispricing of AZC.04 per share in its recent 4 quarters. while P/E is better than P/S.

2011 ValuEngine Inc . in comparison with the Industry -5. -------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- Valuation Rank The ValuEngine Valuation Rank measures the relationship between a AZC -10.44% 77 company's stock price and its Fair Value. Sector 63.37% 66 100. AZC is substantially lower than the S&P 500 0.21% 20 performance of a stock over the recent 12 months. relative to the universe. AZC Industry 104.85 39 market book value. which is in line Sector 4. A higher rank corresponds to a lower Industry 3.24% 16 stock. Each of these quantitative measurements is ranked on a scale of 1 to 100.45% 57 industry rank of 61. -------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- M/B Ratio Rank The Market/Book Rank is a measure of a stock's market to book ratio AZC 3. AZC is substantially lower than the S&P 500 12.84% 32 the more undervalued the stock.39% 61 has an EPS Growth Rank of 91. AZC has a Volatility Rank of 16.36% 63 With a 12-Month Return Rank of 20. With a rank of -9999. which has a rank of 59. With a Valuation Rank of 77. S&P 500 n/a n/a -------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- P/E Ratio AZC Industry Sector S&P 500 n/a 40. A higher rank indicates a better return performance. Generally the higher the ranking.34% 99 -------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- EPS Growth Rank The ValuEngine EPS Growth Rank indicates a stock's expected EPS AZC 175. With a P/E rank of 27.73 n/a Rank 27 36 47 n/a The ValuEngine P/E Rank signifies the relative standing of a company on its P/E ratio.58 21 assigned a rank of 100 while stocks with the highest P/S ratio are Sector 9. Sharpe ratio is the stock's average annual return Industry 0.00% 91 growth rate.48 55 market capitalization.03% 38 significantly higher than the average of its industry group. which has a rank of 56.90% 54 coverage universe. AZC is substantially lower than the industry.89 42 with the industry rank of 39.01% 64 With a rank of -9999.04 56 (over the last five years) divided by its annualized volatility over the Sector 0. a higher 12-Month Return rank indicates a stronger performance. which is slightly lower than the Sector 75. -------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- 12-Month Return Rank The ValuEngine 12-Month Return Rank reflects the relative stock AZC -13.17% 27 stocks. In other words a high rank is always better. Stocks in the top P/E percentile are each assigned a rank of 1(highest P/E stocks) while those in the bottom P/E percentile are assigned a rank of 100 (traditional value stocks).11% 46 industry's rank score of 66. which S&P 500 0. -------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- Volatility Rank The ValuEngine Volatility Rank reflects the volatility associated with the AZC 92.95% 38 industry Rank of 27.54 41 ranked 1. -------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- P/S Ratio Rank The ValuEngine Price/Sales rank signifies the relative position of the AZC n/a n/a company based on its P/S ratio.This is moderately higher than the Sector 105. A higher rank denotes a larger market Industry 6. sector. Sector 5. AZC is in line with the industry P/E rank of 36. AZC is substantially lower than S&P 500 n/a n/a the industry rank of 21. The higher the Valuation rank. the more positive the influence each measurement has on the overall attractiveness of the stock. -------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- 5-Y Avg Ann Rtn Rank The ValuEngine 5-Years Average Return Rank reflects a stock's AZC n/a n/a average annual return over the last 5 years. On a scale of 1 to Industry 97. A higher Volatility Rank indicates a lower volatile percentile of Industry 89.9 37.21 36 relative to the stock universe.17 64 same 5 years. At a Price/Sales rank of -9999. AZC is Sector 32. Sector 5.99 59 capitalization within ValuEngine's stock universe.VgluEngine TM DETAILED RESEARCH REPORT AUGUSTA RSRC CP(AZC) VALUENGINE RANKINGS Just as important as the percentages shown for our ten predictive variables for each stock is the way they are ranked against the 7000 plus stocks in our database. Stocks with the lowest P/S ratio are Industry 17. which carries S&P 500 n/a n/a a Valuation Rank of 32. The below data points show how the rank for each data point for AZC relates to the overall industry. Industry 49.02 58 industry.28 62 AZC is in line with the industry. AZC has a Market/Book rank of 36. A high rank indicates a high growth rate expectation. S&P 500 n/a n/a -------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- Market Cap(bill) Rank The ValuEngine Size rank signifies the company's size in terms of AZC 0. 3 Copyright © 1998 . With a Size rank of 55. S&P 500 n/a n/a -------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- Sharpe Ratio Rank The ValuEngine Sharpe Ratio Rank measures the risk return tradeoff AZC n/a n/a offered by a stock. and S&P 500 averages. S&P 500 18.35% 56 has a rank of 54.

00% PLM 49.44% 89.47 0.18% -0.75 0.02% 51.2011 ValuEngine Inc 4 .84% 195.12% 50.11% 51.35% 0.95% n/a 26.00% UEC 0.65% -3.91% 43.61% 49.24% 93.74% -2.61% 51.30% n/a 82.67% 51.13 n/a 0.16% MDM 52.05% 49. Sharpe Ratio AZC GMO MDM UEC PLM n/a -0.98% 48.VgluEngine Valuation AZC GMO MDM UEC PLM -10.14% 0.97% n/a Rank 16 15 n/a 8 n/a RISK ASSESSMENT: CHANCE OF LOSS AZC One-Month Three-Month Six-Month One-Year Two-Year Three-Year 49.76% 16.66% -1.88% 49.01% 49.00% PLM 50.26% 1.62% 50.43% 45.42 5.48% 49.48% UEC 50.66 n/a 1.88% GMO 52.72% 51.11% 1.35 0.60% 51.52% UEC 49.50% -10.56% GMO 1.77% -4.52% 50.89% 48.85% 2.99% 50.38% 49.54% -3.21 4.51% 49.84% MDM 47.12% GMO 47.39% 50.28% 48.66% 48.46% 11.16% n/a n/a 33 n/a 95 n/a One-Month Three-Month Six-Month One-Year Two-Year Three-Year AZC 50.91% -2.22 n/a Rank n/a 42 n/a 77 n/a P/S Ratio AZC GMO MDM UEC PLM n/a n/a n/a n/a n/a Rank n/a n/a n/a n/a n/a M/B Ratio AZC GMO MDM UEC PLM 3.09% 57.69% 47.44% -30.55 Rank 36 23 21 21 32 P/E Ratio AZC GMO MDM UEC PLM n/a n/a n/a n/a n/a Rank 27 25 29 23 26 Copyright © 1998 .40% 48.95% 50.33% 48.31% 52.21% 183.30% 14.20% 49.34% 51.62 n/a Rank 91 76 n/a 90 n/a Market Cap(bill) AZC GMO MDM UEC PLM 0.57% -1.16% 50.46% -2.20% -0.66% 51.39% -4.99 5.69% 47.69% 49.32% -0.84% 49.11% EPS Growth AZC GMO MDM UEC PLM 1.08% -5.00% 51.98% n/a 118.57% 54.43 0.54% 46.89% Volatility AZC GMO MDM UEC PLM 92.39% 48.34% 48.93% 12-Month Return Rank AZC GMO MDM UEC PLM -13.34 Rank 55 55 54 50 50 * Comparables are companies in the same Sector and Industry and of approximately similar market capitalization value.18% n/a TM DETAILED RESEARCH REPORT AUGUSTA RSRC CP(AZC) COMPARISON OF SIMILAR STOCKS* & RISk ASSESSMENT Rank 77 5 n/a 5 n/a FORECAST COMPARISONS RETURN FORECAST: EXPECTED RETURN AZC One-Month Three-Month Six-Month One-Year Two-Year Three-Year 0.75% 47.80% 50.46% 53.99% MDM 1.25% 52.13% -0.31% 50.49% 50.15% 20 98 99 82 11 RISK ASSESSMENT: CHANCE OF GAIN 5-Y Avg Ann Rtn Rank AZC GMO MDM UEC PLM n/a -11.48 0.64% 2.31% 52.54% 52.21% PLM 0.27% 27.46% 47.63 3.

7 0 0 0 0 0 4.3 0 0 0 46.4 10.5 0 0 2.3 0 0 69 115.3 0 ---0 0.1 0 0 51.8 0 7.3 17 -46.3 0 ---0 0.4 0 0 64.4 -28.6 200812 8.5 84.8 0 0.2 0 21 115.1 0.6 0 0 0 0 0 3.9 200412 0.5 1.4 0 0 0.8 --0.5 31 --31.3 Current Portion of Long-term Debt Current Portion of Capital Leases Accrued Expenses Income Taxes Payable Other Current Liabilities Total Current Liabilities Mortgages Deferred Charges (taxes/income) Convertible Debt Long Term Debt Non-Current Capital Leases Other Long-Term Liabilities Minority Interest (liabilities) Total Liabilities Preferred Stock Common Stock.9 0 -2.1 0 0 0.5 0 0 17.9 0 0.2 0 98.9 0 5 0 53.2 0 123.6 7.6 0 0 46.5 0 0 10.6 1.2 13 -19.9 0 0 0.4 0 0 0 0 0 0.2 0 0.4 0 0 88.9 --35.9 0 0 0 ---0 1 2.6 0 1.2 0 1.6 200612 8.6 0 0 0 0 5 0 0 0 41.6 0 0 0 58.3 0 4.2 0 0 48.8 --12.2 9 --28.9 0 0 0 1.2011 ValuEngine Inc 5 .6 0 0 0 3.6 200512 1.7 0 ---0 0.5 -50.3 0 0 0 0 0 0.4 17.9 0 -5.5 0.4 0.6 51.3 0 -2.4 0 0 14.6 142.4 0 0 0 0 0 0 0 0.3 200712 23.5 0 0.1 0.8 17.1 --33.1 0 0 0 0 0 1.7 0 0 0 5.1 0 14. Plant & Equipment Investment & Advances Other non-current Assets Deferred Charges Intangibles Deposits & other assets TOTAL ASSETS Notes Payable Accounts Payable TM DETAILED RESEARCH REPORT AUGUSTA RSRC CP(AZC) ANNUAL FINANCIALS (All items in Millions) 200912 6.6 0 96.4 5.3 0 0 83 88.3 0.7 0 1.3 0 2.1 0 0 0 1.2 0 0 26.5 142.8 0.3 0 0 0 0.8 0 0 0 ---0 0 0. Plant & Equipment Accumulated Depreciation Net Property.4 0 0 0 1.4 0 3.2 0 0 0 0 54.9 0.9 -9.1 -3.3 0 0 0 0 0 0 0 0.9 14.5 200212 0 0 0 0 ---0 0 0 --0.4 42.5 0 0.2 0 0 0 0 0 0.6 0 12.3 0.VgluEngine BALANCE SHEET Cash Marketable Securities Receivables Inventory Raw Materials Work in Progress Finished Goods Notes Receivable Other Current Assets Total Current Assets Property.5 0 37.4 0 2.6 1 200312 0 0 0 0 ---0 0 0 --0.4 0 0 0 0 0 0.4 0 0 0 0 0 0 0 0.2 0 0 0 0 0 1 0 0.7 3.9 3. Net Capital Surplus Retained Earnings Treasury Stock Other Equity Total Shareholders' Equity Total Liabilites & Shareholders Equity Copyright © 1998 .5 0 ---0 6.

General & Admin.5 0 1.2 0 -0 -0 -0 --0 200212 0 0 0 0 0.1 -0.1 0 0.5 -1.5 -----0.9 -3.5 0 -20 -39.1 0 2.3 32.1 0.1 -0.3 0 0 -0 -0.4 0 -0.8 -1.1 1.4 1 -5.1 -7 0.1 --0 200312 0 0 0 0 0.3 0 0.1 -0.2 -5.1 ---0 0 200812 0 0 0 0 10.5 0 -2.1 -5 0 0 0 0 -5 -0.5 -5. Depletion.7 0 0 0. Amort.2 -0.9 -10.Net Net Cash from (used by) Operating Act.6 -21.Diluted.8 12.1 0 0 0. net EPS .2 0 -0.2 0 0 0 0 -0.3 7.4 -0. Depletion.9 0 0 0 0 -5.9 0 -5.2 59.3 0.8 0 9.4 17.2 0. Increase/Decrease in Prop.2 -0.2 -2.3 0 0.7 8.9 -5. Depl.7 14 14 -0.9 -0.5 -4.4 14.1 -0.1 0. Net Cash from (used by) Invesment Act.9 0 -0.5 81.9 0 0 -32.9 -1..2 0 0.3 5. Non-Operating Income Interest Expense Pretax Income Provision for Income Taxes Minority Interest Investment Gains (Losses) Other Income Income Before Extraordinaries & Disc Extraordinary Items & Discontinued Net Income Average Shares used for Diluted EPS Average Shares used for Basic EPS Income Before Non-Recurring Items Income From Non-Recurring Items EPS .1 0 0 0.7 0 -0.1 -12. Net Change in Cash & Cash Equivalents Copyright © 1998 .2 -0.3 0.Diluted.6 -17.4 -7 -0.2 -17.1 -0.7 -35.1 0.8 -5.2 35.9 0 0 0 0 -5.2 0 -1.2 0 -0.4 0 -0.3 0 -0.4 -0.1 1 -0.9 0 -0. Expense Income Before Depr.5 39. Plant. Depreciation.1 -0.1 -9.3 -0 0 0 -0 -0.2 0 -0. Issuance (purchase) of Equity Shares Issuance (repayment) of Debt Securities Increase (decrease) in Bank & Other Payment of Dividends & Other Cash Other Cash from (used by) Financing Net Cash from (used by) Financing Act.1 0 -0.9 0 0 30.3 -18.Basic.1 -0.2 -15.2 37 -1.1 -0 0 200612 0 0 0 0 4.9 0.4 0 0 0 -0 39.1 0.3 -0.3 0 -0 -0 -0 --0 Research & Development Expense Selling.6 -7.1 1.7 -----0.2 -18.7 0 -0.4 -5.3 -4 0 -0.1 0 0 0 0 1.6 0.1 0 0 0 -6.1 -0.2011 ValuEngine Inc -5 0.7 0 0 0 0 -0.1 -0 0 200512 0 0 0 0 2.3 42.VgluEngine INCOME STATEMENT Net Sales or Revenues Cost of Goods Sold Gross Profit TM DETAILED RESEARCH REPORT AUGUSTA RSRC CP(AZC) ANNUAL FINANCIALS (All items in Millions) 200912 0 0 0 0 5.4 -4.1 0 2 -3 -15.4 -0 6 .3 0.3 0 0 0 0 -0.2 0 -0 0 -0.1 0 0.1 -0.3 0.1 0 0 0 -0.4 -5.1 0 0.1 -0.6 -4 0 -0.4 0 0 -2.9 0.7 0 -0.9 6.Acc & Pd Dividends (common) Dividend per share (common) CASH FLOW STATEMENT Net Income (Cash Flow) Depreciation.2 ---0 0 200712 0 0 0 0. Acquisition/Disposition of Subsidiaires Increase (decrease) in Investments Other Cash inflow from Investment Act.2 0 -0. before non-recurring Preferred Dividends .8 -0.2 -5.2 0 0 0 3.1 -0.8 8.9 59.3 0 29.4 0.3 -2.3 17.1 0 -4.2 0 -0.1 -0 0 200412 0 0 0 0 0. Other Adjustments .3 0 0 0 0 -18. Amortization-CF Net Increase(decrease) in Cash from(used in) Discontinued Oper. Amort.6 30.3 0 0 -11 -26.2 -0.8 81.9 0 0.2 7.8 -7.2 0 0 -0. net EPS .1 -5. & Equ.5 -4 0 0 0 0 -4 0 -4 32..

3 Current Portion of Long-term Debt Current Portion of Capital Leases Accrued Expenses Income Taxes Payable Other Current Liabilities Total Current Liabilities Mortgages Deferred Charges (taxes/income) Convertible Debt Long Term Debt Non-Current Capital Leases Other Long-Term Liabilities Minority Interest (liabilities) Total Liabilities Preferred Stock Common Stock.5 0 4.9 -56 0 -5.9 0 0 0 44.5 0 92.2 0 0 0 0 54.3 0.6 0 0 0 42.6 0 0 0 0 0 9.6 142.8 118.3 0 0 0 0 0 4.4 16.2 0 123.2 0 163.2 --33.2 0 0 0 3.7 0 0 57.4 17.3 0 4.7 0 0 0 0 46.3 -43.2 0 98.4 0 ---0 0.3 0 0 69 115.4 0 0 64.9 0 0 0 0 0 7.1 --33.6 0 0 0 3.8 122.5 0 37. Plant & Equipment Investment & Advances Other non-current Assets Deferred Charges Intangibles Deposits & other assets TOTAL ASSETS Notes Payable Accounts Payable TM DETAILED RESEARCH REPORT AUGUSTA RSRC CP(AZC) QUARTERLY FINANCIALS (All items in Millions) 201009 14 0 0 0 ---0 1.6 200909 15.6 16.5 142.3 0 0 0 46.4 10.3 0 0 0 52.7 0 1.5 0 59.2 0 1.5 0 0. Net Capital Surplus Retained Earnings Treasury Stock Other Equity Total Shareholders' Equity Total Liabilites & Shareholders Equity Copyright © 1998 .7 0 ---0 0.2 0 0 0 47.5 0 ---0 0.2 0 0.4 41.1 0 0 81.5 84.6 0 0 0 0 3.6 0 0 61.6 0 2.9 17.1 114.6 7.VgluEngine BALANCE SHEET Cash Marketable Securities Receivables Inventory Raw Materials Work in Progress Finished Goods Notes Receivable Other Current Assets Total Current Assets Property.3 0 ---0 0.2 0 21 115.2 --32.3 17 -46.6 201006 5.5 149.1 0 0 55.7 0 192.3 0 ---0 0.1 15.6 0 12.6 0 9.8 201.3 -39.3 0 0 0 44.3 201003 15.7 0.6 71 118.5 0.5 200812 8.2 96.6 144.3 0 0 0 46.7 0 32.6 200906 1.5 0 0 0 3.6 0.9 0 25.5 42 0 0 0 0 44.2 144.5 0 1.9 --35.5 0 0 0 ---0 3.5 3.5 0 0 0 49.6 0 1.7 165.8 201.3 0 7.5 4.3 165.2 17.4 0 29.1 --35.7 0 96.2011 ValuEngine Inc 7 .2 122.5 0 0.6 0 0 0 0 5 0 0 0 41.6 18.7 173.9 0 -5.2 --35 0 0 72.1 200912 6.2 0 0 48.5 200903 2.5 -50.8 -57 0 -5.2 72.1 0 0 0 51.8 0 1.2 0 40.8 0 47.7 17.6 --35.4 0 0 0 50.2 0 ---0 0. Plant & Equipment Accumulated Depreciation Net Property.6 19.8 0 155.1 173.6 0 0 0 58.6 -40.1 0 4.7 --32.4 42.5 121.4 18 -54 0 -5.5 0 2.2 0 0 91.1 0 122.1 8.6 0 0 0 48.

4 0.1 -0.5 0 -20 -39.4 61.3 0 0 -15.2 121.Diluted.4 0 0.8 -3.9 0 -0.6 8. Amort.2 -4 -0.4 0 0 -2.9 -3.1 -0.5 0 0 0 0 -1.1 0 -1. before non-recurring Preferred Dividends .7 -1.2 -1.2011 ValuEngine Inc -4.2 37 -1.8 29.2 8. Amortization-CF Net Increase(decrease) in Cash from(used in) Discontinued Oper.1 0.1 -1.6 -1.9 4 8.5 -1.3 -2..1 0 0 0 -1.5 3. Amort.6 7.4 8.1 -0.Net Net Cash from (used by) Operating Act.6 -2.4 0 0 -2.4 0 -1.1 0 0.3 0.3 30. Issuance (purchase) of Equity Shares Issuance (repayment) of Debt Securities Increase (decrease) in Bank & Other Payment of Dividends & Other Cash Other Cash from (used by) Financing Net Cash from (used by) Financing Act.2 0 -1 0 -2.7 9. Expense Income Before Depr.1 0 0 0 0 -9..4 --------0 0 200912 0 0 0 0 1.6 -8.3 -2. Acquisition/Disposition of Subsidiaires Increase (decrease) in Investments Other Cash inflow from Investment Act.7 0 0.7 -0.2 0 0.2 0.1 -18. Other Adjustments . Depletion.8 35.1 0 0.5 0 -1.7 0 0 8.3 0 29.2 0 0.3 -1.4 0 -0.2 0.9 --------0 0 200903 0 0 0 0 1. Non-Operating Income Interest Expense Pretax Income Provision for Income Taxes Minority Interest Investment Gains (Losses) Other Income Income Before Extraordinaries & Disc Extraordinary Items & Discontinued Net Income Average Shares used for Diluted EPS Average Shares used for Basic EPS Income Before Non-Recurring Items Income From Non-Recurring Items EPS .6 -0.2 0 0 0 0 -2. Depletion.2 -0.9 -2.5 0.8 0 0 -32.2 -50.2 36. Net Change in Cash & Cash Equivalents Copyright © 1998 .6 0 -1.4 0 -0.2 -15.5 -2.1 -0.5 0 -1.4 0 0.1 1. Net Cash from (used by) Invesment Act.2 0 -0 -0 -0 -0 0 201003 0 0 0 0 1.3 12.2 -4.9 0 0 30.4 0 0 -0.5 -0.6 0 0 0 0 -1.9 121.4 39.9 0 -0.6 0 0.3 -3.Diluted.4 0.3 0 -0.8 0 9.7 0 0 -24.1 0 0.Basic.8 1 0 -3.4 -0.9 -18.1 --------0 0 200909 0 0 0 0 1.VgluEngine INCOME STATEMENT Net Sales or Revenues Cost of Goods Sold Gross Profit TM DETAILED RESEARCH REPORT AUGUSTA RSRC CP(AZC) QUARTERLY FINANCIALS (All items in Millions) 201009 0 0 0 0 1.7 -35.9 0 0 0 0 -0.8 0 -9.1 0.1 -10.6 -25.9 0 0 0 0 -0.2 0 -2.2 0 -1.7 126.6 0 0 -18.3 -1.9 0 0 -32.1 -6.5 -4.7 -1. Increase/Decrease in Prop.6 0 -1.1 126. & Equ.4 -5 0.9 -2.4 8 .2 -8.9 0 -0.7 -1.1 0 -1.2 -1.9 0 0 -3.6 0.2 0 0 -2.8 32 0 -0.8 -7.2 68.2 0 -0.8 8.3 0.1 0 0. Depreciation.4 -1.5 --------0 0 Research & Development Expense Selling.1 -6.Acc & Pd Dividends (common) Dividend per share (common) CASH FLOW STATEMENT Net Income (Cash Flow) Depreciation.1 0 -1.1 0 0 0 0 -1.4 0 0.5 -3 -0. General & Admin. Depl. net EPS . net EPS .9 0 0 -49.5 -15.1 -0.6 30.9 --------0 0 200906 0 0 0 0 1.4 -0.1 -1.1 0 -0 -0 -0 -0 0 201006 0 0 0 0 1.8 -2.5 --------0 0 200812 0 0 0 -1.6 -33.6 -21. Plant.6 -0.5 -2.

foreign. Data Summary and much more. Please call (800) 381-5576 to speak with a sales representative or email support@valuEngine.S. The most comprehensive and useful report available. Below is a brief description of some of our additional products and services. ValuEngine Premium Web Site Stock Analysis Service: A subscription to our website allows access to ValuEngine's proprietary real-time quantitative analysis tools for more than 5. and database capabilities to your desktop. you can differentiate your firm from the competition by offering of time-proven. forecast. or an Independent Broker/Dealer with hundreds of financial advisors. sign up here: www.valuengine.500 U.valuengine. The Weekly includes quantitative market and sector overviews of the entire ValuEngine U.S.. Forecast Model and Ratings Model are incorporated to give you a well-rounded analysis from three different perspectives. VEI provides the finance professional with a fast. VE also offers long-only portfolio newsletter products as well as specialized industry and sector reports. IT. call us at 1-800-381-5576.valuengine. Treasuries. please go to our website at www. and consistent computerized research department whenever and wherever needed. You can sign up for a free 14 day no-risk trial period: www. objective. newsletter publishers. and U. To download a free demo. financial advisors.com/nl/mainnl ValuEngine Institutional (VEI): VEI is a software package designed to meet the demanding requirements of Finance Professionals. and web-site owners.com. a Research House. and strategy-implementation needs. Active traders should consider Chief Market Strategist Richard Suttmeier's ValuEngine Morning Briefing while those looking for a diversified portfolio of both long and short ideas should check out the ValuEngine Forecast 16 Market Neutral Strategy Newsletter. or send us an email at support@ValuEngine.com. development. To receive this free newsletter every Friday. ValuEngine 1-5 Engine Rating. Copyright © 1998 .com/pub/main?p=33 The ValuEngine Weekly Newsletter: The ValuEngine Weekly Newsletter features market research. ValuEngine Fair Valuation. brokers. Also. high-performance research to your clients. VEI will dramatically increase your productivity. More report information: www.000 individual stock reports--like this one--is included with every VEI subscription. Tell us your financial objectives and specify your universe constraints and ValuEngine can provide everything from back testing and strategy development to front and back-end automation services. analysis.com/pub/main?i=0 Consultancy Services: With ValuEngine's 10 years of experience to help you maximize your professional investment strategy.S. go to the Newsletter portion of our website: www.valuengine.valuengine. Financials. please visit our website at www.ValuEngine.com/rep/mainrep To find out more about ValuEngine's many independent and objective investment products and services. ValuEngine private-label products can be customized for funds managers. Whether you are a Fund Manager. Multi-stock comparison.VgluEngine TM DETAILED RESEARCH REPORT AUGUSTA RSRC CP(AZC) VALUENGINE SERVICE DESCRIPTIONS Thank you for your interest in ValuEngine! ValuEngine Detailed Valuation Report: Advanced academic research that brings you superior investment strategies in an actionable format. To view sample issues of our many newsletters or to subscribe. and mathematical brainpower on staff to provide Funds and Institutions with complete solutions to their research. ValuEngine has the research. The ValuEngine Weekly Newsletter also includes tips and tricks for getting the most out of VE's quant-based investment tools. and ADR stocks which trade on U. indices.2011 ValuEngine Inc 9 . The software provides access to our proprietary market neutral portfolio strategies and the ability to extract the entire universe database of ValuEngine model outputs each day. VEI deploys the power of ValuEngine's quant-based valuation. an Independent Financial Advisor.com. Risk Assessment. detailed Company Profile.com/nl/WeeklyNewsletter ValuEngine Premium Newsletters: ValuEngine offers a variety of premium newsletter products designed to meet every style of investment. Full access to more than 4. and commentary from ValuEngine Chief Market Strategist Richard Suttmeier and Senior Analyst Steve Hach.S. Earnings Estimates. Markets. ValuEngine's three models: Valuation Model. portfolio creation/optimization. stock universe as well as VE data points for hot stocks and industries. 1-3-6 month and 1-2-3 yr forecasts. Chief Market Strategist Suttmeier provides technical levels for key commodities. accurate. Consensus EPS trend and Earnings Surprise statistics provide additional insights. customization.

intermediate-term momentum continuation. STOCK RATINGS: The terms below are used to rate a stock's 12-month performance: 1. ValuEngine.com Engine Rating and Average Annual Return (Jan 2001 . or will be. no part of his or her compensation was. director or advisory board member of the companies discussed in this report. ValuEngine adheres to professional standards and abides by formal codes of ethics that put the interests of clients ahead of their own. among other things. certifies that with respect to each security or issuer that the analyst covered in this report: a). represented by the model price. This is a consolidated version of the firm's five class rating system: most favorable and favorable ratings are buys. is. 6. Quotes provided by Zacks. such as a company's trailing 12-month Earnings-Per-Share (EPS). The VE Engine Rating is an assessment of a stock's overall attractiveness. are all used to create a more accurate reflection of a company's fair value. The opinions of ValuEngine are subject to change at any time without notice and without obligation of notification. Sell: Expected to underperform the SP500 producing below-average returns. neutral ratings are holds and the categories unfavorable and most unfavorable are sells. Buy: Expected to outperform the SP500 producing above average returns.500 companies. shortterm price reversals. 5. ValuEngine has not managed or co-managed a public offering for any companies in the above report in the past twelve months. 4. and 2 and 1 rated are expected to underperform. related to the specific recommendations or views expressed by that research analyst in the research report.500 stocks under coverage achieve a 5 rating. in whole or in part. Hold: Expected to perform in line with the SP500 with average returns. ValuEngine does not offer brokerage or investment banking services. financial situation. Inc. and long-term price reversals over six time horizons for every industry to ensure forecasts are established relative to a stock's proper peer groups. Together with eleven additional variables. or its affiliates do not beneficially own 1% or more of any class of common equity securities of the subject companies. The research analyst over this company or members of his/her household do not have a financial interest in these companies discussed in this report. three-factor approach. The information contained herein accurately reflects the opinion of ValuEngine at the time the report was released. It is based on the one year forecast target price. 2. which is the final evolution of VE's equity modeling. distribution. or reproduction is strictly prohibited. Inc. all of the views expressed accurately reflect his or her personal views about those securities or issuers. For additional information about ValuEngine's financial research and financial modeling on over 5. Inc. the analyst consensus estimate of the company's future 12-month EPS. 7.2011 ValuEngine Inc 10 . to buy or sell any securities or related financial instruments. The author. ValuEngine's stock forecasts examine. The result is state-of-the-art fair market valuation and price forecasting technologies. 5 and 4 rated stocks are expected to outperform the overall markets. ValuEngine. Fundamental variables. 2. as well as the probability of meeting and exceeding any given portfolio or stock investment target. or affiliates of ValuEngine do not hold positions in the securities of the companies mentioned in this report.VgluEngine TM DETAILED RESEARCH REPORT AUGUSTA RSRC CP(AZC) VALUENGINE'S METHODOLOGY ValuEngine's research combines the most advanced academic concepts with real world Wall Street practice. Copyright © 1998 . 3. does not make a market in this security. ValuEngine does not provide investment banking or consulting services to the companies mentioned in this report. 3 rated to roughly match market performance. Advanced statistical/econometric techniques are used to run thousands of simulations estimating the probability of a double in stock price. None of ValuEngine's management. according to VE. only 2 percent of ValuEngine's 5. has not received compensation from the companies discussed above in the last 12 months. No warranty is made as to the accuracy of the information contained herein. but this can vary depending upon market conditions. ValuEngine paints a detailed picture of a company's fair value. 3. The following are specific disclosures made by ValuEngine with regards to this research report: 1. On average. DISCLAIMERS This report is intended for informational purposes only and does not constitute a recommendation. ValuEngine does not receive any compensation from companies mentioned in this report. or an offer. the analysts involved. or particular needs of any specific recipient. officers. ValuEngine. ValuEngine's stock valuation employs a sophisticated. Inc. nor a member of the research analyst's household serves as an officer. This information is intended for the sole use of clients of ValuEngine.valuengine. and b). Each research analyst primarily responsible for the content of this research report. please click www.Oct 2010) 25 Avg Return (%) 20 15 10 5 0 1 2 3 4 5 Engine Rating DISCLOSURES ValuEngine offers equity recommendations and related return estimates to investors and their advisors. The report has no regard to the specific investment objectives. directly or indirectly. Any other use. It uses a three-class Buy-Hold-Sell rating system. and the 30-year Treasury yield.

You're Reading a Free Preview

Download
scribd
/*********** DO NOT ALTER ANYTHING BELOW THIS LINE ! ************/ var s_code=s.t();if(s_code)document.write(s_code)//-->