Petrominerales Ltd. (PMG.TO) Buy, Sell or Hold

Petrominerales Ltd. (PMG.TO)

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19 watching

COMMENT

Broke a trend line in early 2011 and is now in another down trend line. It is below its 200 day moving average. Starting to make some base at around $18. If you own, put a stop/loss at around $16.50 and wait for it to potentially go to $19. If that does, it may begin and new up leg.

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DON'T BUY

Has done well trading the stock but wouldn't touch it now. Downward trend looks like it is bottoming out but will go down below $17. There are other oil/gas stocks that are starting to perform well. Would start to look at it when it hits $21-$22.

HOLD

Good production growth in Columbia.

HOLD

Have been hurt more than domestic producers. It is oil focused so you have the full benefit of strong oil prices. Very high prospectivity.. Not drilling 100000 barrel per day wells. They are 5000 barrels per day. It is a name that is starting to get very interesting to him. Good growth profile.

COMMENT

Chart shows a downtrend from early 2011. Last year wasn't a good place to be. If you own, put a Stop in at $15.20. Had a good day today and is starting to move into the space where the market kind of wants to go. There are a few charts out there that look better than this.

COMMENT

Frustrating company. ROC shows up really strong but it just seems to be ignored. He prefers Freehold (FRU-T) as it gives a very nice distribution and a play on the upside.

HOLD

The bloom is off the rose for some of the Colombian producers but this has the potential to go back. This is a good one. Hold on until you get into the $20's and then start lightening up.

DON'T BUY

The worst time to sell any stock. All the Columbia stories have come off. PMG really throws off a lot of cash. He would want to see bit of a base.

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BUY

Had a pretty good last quarter. Valuation is much better and you could wade in and be relatively safe. Downside would be fairly modest at this point but considerable upside.

COMMENT

Slow down is a combination of several factors. 1) Slowdown in the market after it had a huge run up with people taking profits. 2.) Oil prices have come off. 3.) Heavy oil producer creating some concern. 4.) In Colombia that has a bit of political turmoil. Solid company with a big future ahead of it.

PAST TOP PICK

(A Top Pick June 9/10. Up 13.07%.) Sold his holdings at $34.44.

PAST TOP PICK

(A Top Pick March 30/10. Up 4.72%.)

COMMENT

Petrobank Energy (PBG-T) recently spun out their shares. Oil price is getting at the high end of his comfort range. Success they’ve had in drilling comes with high declines. Have an incredible drilling inventory in front of them but stock price is high and if anything goes wrong the stock price will collapse. Not a value investment anymore.

DON'T BUY

Pretty expensive right now and going through a high decline rate period. You should wait and see how production settles down.

DON'T BUY

Doesn’t like owning it. Has very short term rallies.

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Petrominerales Ltd. (PMG.TO)