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Mirant - MIR


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Is anyone following MIR?


Mirant sells electricity, which it generates through coal-fired, and oil and gas generating facilities.  They are a wholesale generator of electricity, not a utility. Hedge fund manager John Paulson owns more than 12% of the company.


Shares trade at 0.6x book and 0.7x sales. They have high margins, return on equity and assets. Historic P/B is ~1.5x and P/S ~ 2.0


Although I don't see a catalyst to drive the stock price up, it appears to be under-valued.


I own a few shares and am considering adding to the position.  Appreciate any thoughts...




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