One-time gain spurs Dundee’s earnings

Article Excerpt

DUNDEE CORP. $13 (Toronto symbol DC.A; Aggressive Growth Portfolio, Finance sector; Shares outstanding: 73.8 million; Market cap: $959.4 million; Price-to-sales ratio: 0.9; No dividends paid; SI Rating: Average) is a holding company with subsidiaries in three main areas: wealth management, real estate and resources. In the three months ended March 31, 2010, Dundee earned $23.9 million, or $0.27 a share. That’s a big improvement over the $8.2 million, or $0.11 a share, it lost a year earlier. In the latest quarter, Dundee realized an $18.6-million gain on the sale of securities. In the year-earlier quarter, it wrote down $9.0 million of securities. That was the main reason for the improved earnings. Dundee is a hold. hold…