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Opinions Jerome Hass
GMP Capital Trust IncGMP.TOCOMMENTMay 05, 2017
Jerome HassStock price when the opinion was issued
As of Nov 23, 2020. Market Open.
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Benj GallanderBenj GallanderHe owns the common stock and the preferred share. They have sold off their resource business side of their brokerage business. They are in wealth management only now. TD took a run at them a few years ago and it could be a possibility in the future. He will continue to hold it.
Benj Gallander
Benj GallanderBenj Gallander
Benj GallanderBenj GallanderBenj GallanderThey had a special dividend of 10 cents a share not so long ago. Crypto currency will not be so popular in the future. Their investment in the cannabis space could do well. He likes this one and where they can go. It has a chance to get to double digits but not tomorrow, and also they could get competition.
A lot of these companies have been taken over. TD-T has looked at this one. They are raising money for marijuana and crypto currency stocks. They paid a special dividend last year. It has a lot of upside potential.
Benj Gallander
Preferred B. Recently reported and had a reasonable set of numbers. What caught the public’s attention was the pre-release that Canaccord (CF-T) put out last week, where they had such an exceptional Q1 that they pre-released their numbers and the share price responded accordingly. GMP’s quarter was an OK one, but certainly not like Canaccord’s. However, it shows the potential of both businesses. GMP has really positioned themselves to be a strong leveraged play on the oil/gas and mining sectors. They also have an attractive asset management business that got a lot of focus last summer and fall, with the Richardson operation. A very attractive takeover candidate. He would want to see more evidence of recovery in the mining and oil/gas sectors and to start to see some of their investments come to fruition.