Questor share tip: Weir is down but not out Weir revealed that orders in oil and gas slumped 26pc on a like-for-like basis in the first quarter. However, order input at its minerals division rose 18pc, which was ahead of expectations. Power and Industrial orders were also strong, up 35pc, or 27pc on a like-for-like basis. This meant the group maintained its full-year guidance. Miners have been weak recently as concerns about Chinese demand increase. There have been comments from executives at companies such as BHP Billiton implying a softening of demand. Also, commodity prices have now wiped out all of 2010"s gains, showing the weakest performance since the commodity rout of 2008. Industrial production in China was the weakest in three years, prompting one commodity analyst to say that when this combined with Europe woes it "moved the near-term risks to most industrial commodity prices to the downside." Questor feels very strongly that the long-term prospects of Weir outweigh the short-term issues in some of its markets. Each of its sectors is in a long-term bull market as the global population rises and demand for energy and basic materials rises. The shares are now trading on a December 2012 multiple of 9.9 times, falling to 9.3 and yielding 2.4pc. Questor last tipped the shares at £17.17 in April and they are 11pc below this level. Although they are likely to be volatile, Questor maintains a buy on this quality company.