Is this a monster in the making?

Does anyone have this on their radar? What do you make of it, IPO sp at 540p Dec 2007, now 1123p. Am I too late to get in? I think sp is playing catch up with other major miners. Kaz already own 20% of the company.

http://www.enrc.com/index.asp
Check out the presentation there are some impressive numbers and their huge assests.

350p on the way by end of week

Just taken a nice profit on this.

Shame it's rise doesn't match that of KAZ but I'm just glad to be ahead of the game for a change!

Well, now I think 350p is a bit too generous for ENRC.

Tried to short this day trading when it was +14%.

No market again :-(

Eurasian Natural Resources Corporation (LSE: ENRC) announced that it had acquired a 25% stake in Shubarkol Komir JSC, a Kazak thermal coal producer, for US$200 million in cash. Shubarkol Komir produced approximately 6.1 million tonnes of coal in 2007, making it one of the largest producers in Kazakhstan, and has around 1.4 billion tonnes of measured and indicated coal resources.

The acquisition is considered a related party transaction, as three of the founding shareholders of Eurasian Natural Resources hold a majority stake in Shubarkol Komir.

As part of the acquisition, Eurasian Natural Resources has also entered into an off-take agreement, and has a call option to acquire all or part of the remaining shares at the same price it paid for the 25% stake.

Dr. Johannes Sittard, Chief Executive Officer of ENRC, said, 'The acquisition of Shubarkol provides for the further strategic development of the Group in the region. In addition, it strengthens the integrated business model of ENRC through securing a reliable and cost effective supply of relatively high quality thermal coal and semi-coke, thereby further enhancing the Group's position as a low cost producer.'

Not much to go on from Brokers but I have found this one which is fairly recentish and they have a 500p SP target for Eurasian so it would suggest the stock is substanialy undervalued at the moment .

Lets hope the upcoming results rectify that......

23.01.09 :+12, (319.5) RBS cuts Eurasian Natural Resources price target to 500p from 775p; rating buy.

New Broker Buy Note...

31 Mar'09 - 07:52 - 507 of 507


Merrill lynch upgrade-

Upgrade to Buy, price objective GBp700

We upgrade ENRC to BUY from Neutral and set a new price objective of GBp700,
up from GBp400, inline with our FY2010E NPV. While the market outlook for
chrome, ENRCs main product is clearly depressed, we feel that this is now
largely discounted in the share price. We consider the possibility that the
stainless steel market finishes destocking sometime in the next 12 months
resulting in an improvement in demand for ferrochrome. This would, at the very
least, be positive for volumes; the company is presently operating at a 35-50%
capacity reduction in chrome and iron ore. ENRC has low cost assets and a
strong (net cash) balance sheet and we believe is well placed to weather the
demand weakness. 2009E EPS +15% to US$0.47.


FY2008 results inline with BAS-MLe and consensus
FY2008 results were very much inline with our forecast. EBITDA was US$4.2
billion, +117% YoY and -1% vs. BAS-MLe. Underlying EPS US$2.05, +111%
YoY and +1% vs. BAS-MLe. No real surprises, chrome volumes are down but
there has been a small demand surprise to the upside in China. Iron ore volumes
are presently reduced because of decreased demand from MMK, ENRCs main
customer. Alumina volumes have held up because of internal consumption and
stable demand from Rusal (for now). Unit costs better than we expected.


$1.8bn net cash, potential for international M&A
At the companys results presentation, management highlighted the potential for
the company to take advantage of its strong balance sheet and depressed asset
prices to grow via M&A. The group is willing to consider other commodities
(copper seems like an obvious choice) and other geographies, particularly those
where the majors may not be willing to accept political risk. We read this as Africa and CIS countries. While our view on any potential transaction would depend on the particular assets being acquired and price being paid, we are broadly in agreement with the sentiment i.e. now is a time to be buying mining assets

And this aswell.....

More Broker upgrades for enrc..

01.04.09 :+9.25, (448.5) in a review of the sector, Morgan Stanley cuts Antofagasta PLC to equal-weight from overweight, cuts BHP Billiton PLC to underweight from equal-weight, raises Anglo American PLC price target to 1315p from 1235p; rating equal-weight, raises Aquarius Platinum price target to 190p from 145p; rating underweight, raises Eurasian Natural Resources price target to 580p from 575p; rating overweight, raises Vedanta Resources price target to 710p from 700p; rating equal-weight, raises Xstrata Plc price target to 385p from 330p; rating equal-weight, raises Kazakhmys PLC price target to 380p from 372p; rating equal-weight and raises Lonmin PLC price target to 665p from 525p; rating underweight

Worth a read....


http://business.timesonline.co.uk/tol/business/markets/article5977562.ece

http://www.telegraph.co.uk/finance/markets/questor/5051625/QUESTOR-ENRC-can-exploit-the-downturn-so-hold-on-for-now.html

27-Mar-09 Eurasian Natural Resources ENRC Merrill Lynch Buy 503.00p 400.00p 700.00p Upgrade

Slow out of the blocks as usual, if Brokers targets are anything to go by ENRC is well undervalued presently,..

01 Apr 2009 - 06:36

April 1 (Reuters) -* Morgan Stanley raises Eurasian Natural Resources price target to 580P from 575P; rating overweight

Look way too cheap..

EARNINGS PREVIEW: ENRC FY08 EPS Seen Doubling On Year3-23-09 7:53 AM EDT | E-mail Article | Print ArticleEurasian Natural Resources Corp PLC (ENRC.LN): FY08

Earnings

Due:March 25 at 0700 GMT

Company Survey of 9 Analysts
Average EPS: US$200.9 (US$0.97 in 07)
Average Ebitda: US$4.15B (US$1.906B in 07)
Profit before tax: US$3.886B, (US$1.321B in 07)
Average Revenue: US$6.94B, up 69% (US$4.106B in 07)

700p target, we have a long way to go... added on intra day weakness..

Upgrade to Buy, price objective GBp700
We upgrade ENRC to BUY from Neutral and set a new price objective of GBp700,
up from GBp400, inline with our FY2010E NPV. While the market outlook for
chrome, ENRCs main product is clearly depressed, we feel that this is now
largely discounted in the share price. We consider the possibility that the
stainless steel market finishes destocking sometime in the next 12 months
resulting in an improvement in demand for ferrochrome. This would, at the very
least, be positive for volumes; the company is presently operating at a 35-50%
capacity reduction in chrome and iron ore. ENRC has low cost assets and a
strong (net cash) balance sheet and we believe is well placed to weather the
demand weakness. 2009E EPS +15% to US$0.47.
NH
FY2008 results inline with BAS-MLe and consensus
FY2008 results were very much inline with our forecast. EBITDA was US$4.2
billion, +117% YoY and -1% vs. BAS-MLe. Underlying EPS US$2.05, +111%
YoY and +1% vs. BAS-MLe. No real surprises, chrome volumes are down but
there has been a small demand surprise to the upside in China. Iron ore volumes
are presently reduced because of decreased demand from MMK, ENRCs main
customer. Alumina volumes have held up because of internal consumption and
stable demand from Rusal (for now). Unit costs better than we expected.

NH
$1.8bn net cash, potential for international M&A
At the companys results presentation, management highlighted the potential for
the company to take advantage of its strong balance sheet and depressed asset
prices to grow via M&A. The group is willing to consider other commodities
(copper seems like an obvious choice) and other geographies, particularly those
where the majors may not be willing to accept political risk. We read this as Africa
and CIS countries. While our view on any potential transaction would depend on
the particular assets being acquired and price being paid, we are broadly in
agreement with the sentiment i.e. now is a time to be buying mining assets

Goldfinger, your ratings are out-dated

ENRC downgraded to hold from buy TODAY at RBS.

Shorted ENRC at 643p.

Broker note from RBS:
"We raise our target price to 11/share; upgrade to Buy.
We continue to value ENRC at its NPV plus a 20% premium, resulting in an NPV-based valuation of 9.56/share. However, we have also incorporated a 2011F PE-based element to our valuation, to incorporate shorter-term earnings leverage. At 12x our 2011 EPS forecast, we can see ENRC trading as high as 13.60/share in 12-18 months time. We set our target price at 11/share (up 29%), and upgrade the stock to a Buy rating"

Good news alround, buy rating from UBS and output up, hopefully sp will rise and put me back in profit......

Mining giant Eurasian Natural Resources (ENRC) said production volumes in the three month ended 31 December further improved on the levels of the previous quarter, in line with expectations.

Ferrochrome production increased 56.7% compared to last year and 5.7% from the previous quarter. Output increased to 351,000 tonnes during the period from 224,000 tonnes last year.

Iron ore extraction was up 74.1% year-on-year, while saleable ore jumped 79.5%.

The strength of its businesses and their low cost advantage allowed the group to achieve a strong recovery from the downturn at the end of 2008, said chief executive Felix Vulis.

Going forward, we remain focussed on managing production levels in response to market demand, Vulis added.

16:42, Monday 12 December 2011

LONDON (ShareCast) - Kazakhstan-focused miner, Eurasian Natural Resources (ENRC), is said to be examining allegations of corruption at a Kazakh iron ore subsidiary but denied on Sunday that it was the subject of a formal investigation by Britain's Serious Fraud Office (SFO), Reuters reports. ENRC has had a troubled year in the board room following the removal of two city stalwarts from the management team. Sir Richard Sykes and Ken Olisa left after criticising interference from ENRC's owners, who include the Kazakh-Israeli billionaire Alexander Mashkevitch. ENRC is one of a growing number of FTSE 100 (Euronext: VFTSE.NX - news) commodity companies from the former Soviet Union, leading to the oft-expressed opinion that Britain's leading equity benchmark is no longer British