As of last quarter WIRE reported an inventory of 60M and a net recievable of nearly 3 times that. I agree with you that they doubled the value of thier inventory, but that would only account for a 25% upswing in assets. Not to mention that this will be a one time gain for the recent upswing in copper prices (they can't get this gain again from previous increases, only future increases).
Great piece of the Encore Pie, but not the engine.
Still waiting on someone to help me think out loud about this quarters estimated reports (in it I doubled the value of inventories just as Firebird is suggesting...is that better encorewirefan?)
Confident that they'll beat estimates, not kill them like last time. Taking a rolling 12 months' estimate and with a moderate PE ratio as a quick analysis, I value Wire at about $55.00. Hopefully, solid earnings will shake out the shorts and others will realize how good this company is now and going forward.