Yes, you can do it in Disk Utility by making a disk image of the CD (use CD format for the image) and then burn that image to a new CD. Not the most elegant way, but it works. If it is simply a data CD it may be easier to just create a folder in Finder, copy the data contents to that folder, and then put in your blank cd-r and copy back from the folder to the cd in Finder, then click the little burn button (looks like a nuke sign) next to the cd. Toast 7 makes it easier, but it costs money.