This post is part of a special annual report -- Top Stock Picks '09 -- in which TheStockAdvisors.com asked 75 leading newsletter advisors to select their favorite investment for the new year.

"We own several stocks in our portfolio that are selling for less than their book value and with a P/E ratio of less than 5 -- but the prize among bargains is Teck Cominco (NYSE: TCK), our most promising stock for 2009," says Neil Macneale.

In his 2 for 1 newsletter -- which initially buys stocks when they announce 2-for-1 splits, he says, "It would be hard to argue this company is not literally being given away."

Macneale explains, "I bought this stock for the 2-for-1 portfolio over a year and half ago and its stock price has declined by about 90% since then.

"The Canadian mining company produces copper, zinc, gold, and metallurgical coal. All assets are in North America except for most of its copper operations, located in Peru.

"With a PE ratio bouncing between 1 and 2, and a Price-to-Book ratio at around 0.3, you are getting a well-established (1906), well-run asset play for less than its book value, even if existing plant and reserve values are slashed by over 50%.

Yamana Gold Inc. (NYSE: AUY) recently released FY 2006 earnings as well as an update on its latest mining operation. Overall, the news is very positive. Yamana Gold operates mines in Honduras, Argentina, Nicaragua and Brazil, including its flagship Chapada mine in Goias, Brazil.

Processing operations at Chapada commenced in November 2006, ahead of schedule. The ore processed thus far has been above estimate in terms of amount and higher in grade. Copper in concentrate is 27.7-28.4% in grade. Gold is 26.3-29.1 grams per ton. At these numbers, Yamana expects to produce 180,000-200,000 ounces of gold and 130-145,000,000 pounds of copper in FY 2007, both above estimates.

Because the Chapada mine came into production earlier than scheduled, Yamana already received its first payment of almost $27 million for the first concentrate shipment. Larger concentrate shipments for both copper and gold will be shipped by the end of 1Q 2007. Presently, spot market prices for both gold and copper remain favorable for Yamana.