Titanium Metals (TIE) up 13% since the Stockmasters buy recommendation

Shares of Titanium Metals Corporation (Public, NYSE:TIE) are up 9% on the day and 13% since our buy recommendation on November 4th.

We told you they were going to gain soon from Boeing's reliance on Titanium, and news today confirmed our prediction:

(PR Newswire) Titanium Metals Corporation ("TIMET") announced today that it has entered into a new, long-term titanium supply agreement with The Boeing Company ("Boeing"). The new supply agreement will be effective on January 1, 2011 and will expire on December 31, 2015. As part of entering into the new supply agreement, TIMET and Boeing amended the terms of their existing supply agreement which expires December 31, 2010. The new supply agreement provides for, among other things, mutual annual purchase and supply commitments, the extension of the global titanium scrap recycling program and the utilization of the TIMET Global Service Center Network.

Bobby D. O'Brien, President, noted, "TIMET and Boeing have a solid relationship that has developed and expanded over the past 40 years. This new agreement extends that relationship and allows us the opportunity to build upon the long standing strategic partnership between our companies."

Steven L. Watson, CEO and Vice Chairman of the Board of Directors of TIMET, noted, "Through our focused efforts over the past few years, we have added significant capacity and flexibility to our operations, increasing our ability to respond to future industry growth and demand. Through these efforts and this new agreement, we are pleased to continue to be a key supplier and strategic partner in Boeing's current and future programs."

Stockmasters, this is great news for TIE. If you haven't added any shares to your portfolio, we strongly recommend that you do. We believe TIE will hit $20 in the mid-term.