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Seven Bull Stocks In Basic Materials - Q3 Update

 September 16, 2011 09:55 AM

Newmont Mining Corp.   (NYSE:NEM)

Newmont Mining Corp. is one of the world's largest gold producers. It is also engaged in the production of copper, principally through its Batu Hijau operation in Indonesia. On April 7, 2011, NEM announced a comprehensive plan for the development of its current global portfolio of assets that would increase annual gold production to approximately 7 million ounces and copper production to 400 million pounds annually by 2017. Yesterday, Yanacocha, a subsidiary of Newmont Mining, said it will nearly double its production of gold by 2017.

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Yesterday, the stock gained $0.12, or 0.19 percent, to close at $64.29. This compares with a 52-week range of $50.05 to $66.61. By the end of Q4, I expect the stock to test $85.00. Buying at current levels could lead to a profit loss ratio of 1.3 to 1.

Southern Copper Corp. (USA)   (NYSE:SCCO)

It is the sixth-largest copper producer in the world. Its long-life reserves and above-average ore grades, low-cost structure, vertical integration, and geographic diversity add to its attraction. Southern Copper also operates underground mines that produce zinc, gold, and lead, as well as a coal mine that produces coal and coke.

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Yesterday, the stock gained $0.25, or 0.80 percent, to close at $31.59. This compares with a 52 week range of $27.29 to $50.35. By the end of Q4, I expect the stock to test $40. Buying at current levels could lead to a profit loss ratio of 1.35 to 1.

Monsanto Co.   (NYSE:MON)

Monsanto is a leading global provider of technology-based solutions and agricultural products that improve farm productivity and food quality. Its operating and net margins are in the top deciles of its peers. Monsanto generates revenue through two business divisions: seeds and genomics (72.5 percent of total revenue during fiscal year 2010) and agricultural productivity (27.5 percent).

The strength of its seeds business in the U.S. and Latin America combined with the well-received implementation of its agricultural productivity strategy make it well-positioned to conclude fiscal 2011 at a high-teens ongoing earnings growth target and translate that growth into greater free cash flow.

Yesterday, the stock gained $0.88, or 1.27 percent, to close at $70.35. This compares with a 52-week range of $47.07 to $77.09. By the end of Q4, I expect the stock to test $85.

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