Even with the pop this morning, you have a stock with a p/e of 12.2 with a 4.97% dividend. That sounds like a value stock, unless of course you believe folks overseas are going to smoke less. And millions born every day.
Europe is still having problems, the last crash March of 2009 PM was at 33.34. Gold stocks went down tons, I have my SJH and sold all my gold last Friday. Just waiting for a hugh correction because of housing, but the main thing there is no jobs, if Obama does another stimulus than I am back into gold. PM is a good stock you won't lose to much but I would rather buy it in the mid 30's.