Westshore Terminals Inc.

WTE-T

TSE:WTE

18.71
0.27 (1.42%)
Westshore Terminals is Canada's premier, most technologically-advanced coal export terminal, located in the Metro Vancouver area. With an export capacity of 33 million tones per year, Westshore Terminals handles around 250 ships per year.
More at Wikipedia

Analysis and Opinions about WTE-T

Signal
Opinion
Expert
TOP PICK
TOP PICK
November 29, 2019
This could be a take over by a private equity name. The largest coal export facility on the west coast of North America. It has no debt. The market is worried by the Teck contract, but he does not think it will be an issue. He thinks this is a $30 stock and the dividend will go up. A potential 30-40% upside. Yield 2.95% (Analysts’ price target is $25.75)
This could be a take over by a private equity name. The largest coal export facility on the west coast of North America. It has no debt. The market is worried by the Teck contract, but he does not think it will be an issue. He thinks this is a $30 stock and the dividend will go up. A potential 30-40% upside. Yield 2.95% (Analysts’ price target is $25.75)
Robert Lauzon
Deputy Chief Investment Officer, Middlefield Capital Corporation
Price
$21.900
Owned
Yes
TOP PICK
TOP PICK
October 25, 2019
A higher risk name, but has great value here. The largest coal loading facility on the West coast in Canada. Trades at 8 times earnings, where infrastructure plays should be trading at 12-13 times. It should be a $30 stock. It carries no debt and should allow the dividend to increase going forward. Yield 3.00% (Analysts’ price target is $25.00)
A higher risk name, but has great value here. The largest coal loading facility on the West coast in Canada. Trades at 8 times earnings, where infrastructure plays should be trading at 12-13 times. It should be a $30 stock. It carries no debt and should allow the dividend to increase going forward. Yield 3.00% (Analysts’ price target is $25.00)
Robert Lauzon
Deputy Chief Investment Officer, Middlefield Capital Corporation
Price
$21.320
Owned
Yes
TOP PICK
TOP PICK
October 25, 2019
A higher risk name, but has great value here. The largest coal loading facility on the West coast in Canada. Trades at 8 times earnings, where infrastructure plays should be trading at 12-13 times. It should be a $30 stock. It carries no debt and should allow the dividend to increase going forward. Yield 3.00% (Analysts’ price target is $25.00)
A higher risk name, but has great value here. The largest coal loading facility on the West coast in Canada. Trades at 8 times earnings, where infrastructure plays should be trading at 12-13 times. It should be a $30 stock. It carries no debt and should allow the dividend to increase going forward. Yield 3.00% (Analysts’ price target is $25.00)
Robert Lauzon
Deputy Chief Investment Officer, Middlefield Capital Corporation
Price
$21.320
Owned
Yes
BUY WEAKNESS
BUY WEAKNESS
October 24, 2019

We are seeing headwinds in both met-coal and thermal coal. Thermal coal is on its way out. It is a good asset with a strong balance sheet but he would only add at a discount to account for the risks of coal and that TECK.B-T may be dropping some of their capacity for alternatives.

We are seeing headwinds in both met-coal and thermal coal. Thermal coal is on its way out. It is a good asset with a strong balance sheet but he would only add at a discount to account for the risks of coal and that TECK.B-T may be dropping some of their capacity for alternatives.

Varun Anand
Portfolio Manager, Starlight Capital
Price
$0.000
Owned
Unknown
HOLD
HOLD
October 15, 2019
$46.73 is his model price. It can cover its dividend. Hold and wait. It's a cyclical stock, a coal company.
$46.73 is his model price. It can cover its dividend. Hold and wait. It's a cyclical stock, a coal company.
Brian Acker, CA
Chief Executive Officer, President and Chief Inves, Acker Finley Inc.
Price
$20.770
Owned
Unknown
SELL STRENGTH
SELL STRENGTH
September 20, 2019
A terminal on the BC coast, primarily involved in coal. There have been issues with some of the customers financial position. It was a safe way to play coal prices. He would continue to hold for now, but sell into strength. The dividend was cut in half, back in 2015. Yield 3% (Analysts’ price target is $25.00)
A terminal on the BC coast, primarily involved in coal. There have been issues with some of the customers financial position. It was a safe way to play coal prices. He would continue to hold for now, but sell into strength. The dividend was cut in half, back in 2015. Yield 3% (Analysts’ price target is $25.00)
Bruce Campbell (1)
President, Campbell and Lee InvMngmnt
Price
$20.720
Owned
No
WAIT
WAIT
September 13, 2019

In the industrial base metal space in Canada, there is WTE-T and LIF-T. Both are very fairly priced right now. A highly commodity focused and cyclical business. This space is best to buy into when stock prices have been really hard hit. Global growth for steel trade is becoming a concern. It is not a good time to enter. The yield on LIF-T is 3.8%.

In the industrial base metal space in Canada, there is WTE-T and LIF-T. Both are very fairly priced right now. A highly commodity focused and cyclical business. This space is best to buy into when stock prices have been really hard hit. Global growth for steel trade is becoming a concern. It is not a good time to enter. The yield on LIF-T is 3.8%.

Bill Harris, CFA
Portfolio Manager, Avenue Investment Management
Price
$20.830
Owned
Unknown
TOP PICK
TOP PICK
August 21, 2019
An infrastructure asset. A cold terminal that is used to load ships to Asia. Trading at a low multiple. They had faced headwinds with one of their customers going bankrupt but they were bought up so they are now good. Pays a good dividend around 3%. Has performed poorly but it is a good entry point right now.
An infrastructure asset. A cold terminal that is used to load ships to Asia. Trading at a low multiple. They had faced headwinds with one of their customers going bankrupt but they were bought up so they are now good. Pays a good dividend around 3%. Has performed poorly but it is a good entry point right now.
Robert Lauzon
Deputy Chief Investment Officer, Middlefield Capital Corporation
Price
$21.440
Owned
Yes
SELL
SELL
August 13, 2019

It's been sideways since 2016--dead money. Find something that pays the same dividend but with an upwards chart, like CN and CP.

It's been sideways since 2016--dead money. Find something that pays the same dividend but with an upwards chart, like CN and CP.

Javed Mirza
Technical analyst, Canaccord Genuity
Price
$21.160
Owned
No
TOP PICK
TOP PICK
July 26, 2019
I75% of their volumes head to Asia. WTE is in the top 5% of his stock valuations. 20% ROE, 8x EBITDA, a good 3% yield with a low payout. He expects share buybacks or more dividends. Well-positioned for cyclical growth recovery. (Analysts’ price target is $24.70)
I75% of their volumes head to Asia. WTE is in the top 5% of his stock valuations. 20% ROE, 8x EBITDA, a good 3% yield with a low payout. He expects share buybacks or more dividends. Well-positioned for cyclical growth recovery. (Analysts’ price target is $24.70)
Jason Mann
CIO & Co-Founder, Edgehill Patners
Price
$21.190
Owned
Yes
HOLD
HOLD
July 8, 2019

It is a large terminal that exports coal. He would hold the company. They just finished a capital expansion phase. The dividend is set up to be increased quite a bit. The con side is that it comes down to coal. There is met. coal and thermal coal. TECK.B-T (met. Coal) is about 10% of their business. They hinted at driving some capacity away from WTE-T.

It is a large terminal that exports coal. He would hold the company. They just finished a capital expansion phase. The dividend is set up to be increased quite a bit. The con side is that it comes down to coal. There is met. coal and thermal coal. TECK.B-T (met. Coal) is about 10% of their business. They hinted at driving some capacity away from WTE-T.

Varun Anand
Portfolio Manager, Starlight Capital
Price
$21.810
Owned
Unknown
PAST TOP PICK
PAST TOP PICK
July 4, 2019
(A Top Pick Jul 25/18, Down 5%) There was some concern about losing contracts. He likes it and they have no debt and are a great infrastructure play.
(A Top Pick Jul 25/18, Down 5%) There was some concern about losing contracts. He likes it and they have no debt and are a great infrastructure play.
Michael Simpson, CFA
Senior Vice-President, Sentry Investments
Price
$22.280
Owned
Yes
TOP PICK
TOP PICK
July 4, 2019

It has great assets in BC. It has no debt and a famous investor owns 30 percent of it. TECK.B-T may move their volumes to a terminal that they co-own next March. He thinks they can't move all of their volume. They have the ability to increase their dividend and they have no debt. (Analysts’ price target is $25.38)

It has great assets in BC. It has no debt and a famous investor owns 30 percent of it. TECK.B-T may move their volumes to a terminal that they co-own next March. He thinks they can't move all of their volume. They have the ability to increase their dividend and they have no debt. (Analysts’ price target is $25.38)

Michael Simpson, CFA
Senior Vice-President, Sentry Investments
Price
$22.280
Owned
Yes
DON'T BUY
DON'T BUY
June 19, 2019
He does not follow this one closely and believes the share price outlook is not great. It is tough to grow the business of a coal terminal, he thinks.
He does not follow this one closely and believes the share price outlook is not great. It is tough to grow the business of a coal terminal, he thinks.
Ryan Modesto
Managing Partner, 5i Research
Price
$22.800
Owned
No
PARTIAL SELL
PARTIAL SELL
March 27, 2019
It depends on your outlook for global growth. Pays a decent dividend and its volumes are holding up. But this stock is below its price 10 years ago. Perhaps take profits.
It depends on your outlook for global growth. Pays a decent dividend and its volumes are holding up. But this stock is below its price 10 years ago. Perhaps take profits.
Gavin Graham
Trustee, Pointbreak ETFs
Price
$20.170
Owned
Unknown
DON'T BUY
DON'T BUY
March 19, 2019
It broke massive support around $21 and has fallen. Since 2016, it has a definite pattern of huge swings up and down, but it didn't rise up in the last three months, which is not good. He's bearish.
It broke massive support around $21 and has fallen. Since 2016, it has a definite pattern of huge swings up and down, but it didn't rise up in the last three months, which is not good. He's bearish.
Keith Richards
Portfolio Manager, ValueTrend Wealth Management
Price
$18.350
Owned
Unknown
DON'T BUY
DON'T BUY
January 28, 2019
They have prime real estate for the terminal. It is a one-commodity play – metallurgical coal. It has been a good buy on dips, but he thinks there are better opportunities out there.
They have prime real estate for the terminal. It is a one-commodity play – metallurgical coal. It has been a good buy on dips, but he thinks there are better opportunities out there.
Stephen Takacsy, B. Eng, MBA
Chief Investment Officer & Portfolio Mgr, Lester Asset Management
Price
$21.870
Owned
No
BUY
BUY
November 28, 2018
Likes it. A unique asset. It's economically sensitive to grain and coal shipments. Good valuation. High ROE. 9x EBITDA and 2.6% dividend with a low payout ratio.
Likes it. A unique asset. It's economically sensitive to grain and coal shipments. Good valuation. High ROE. 9x EBITDA and 2.6% dividend with a low payout ratio.
Jason Mann
CIO & Co-Founder, Edgehill Patners
Price
$23.950
Owned
Yes
DON'T BUY
DON'T BUY
October 24, 2018

A stock price can pull back for many reasons: the market itself or your initial analysis was wrong. It happens to everyone. When to cut your losses? What are the prospects of this company going forward vs. other investments. Westshre had a good last quarter, but they are volatile. They are exposed on the west coat to coal shipping. Pays a modest 2.6% dividend. He has no plans to buy it. He doesn't know if it has downside risk, but its upside is limited.

A stock price can pull back for many reasons: the market itself or your initial analysis was wrong. It happens to everyone. When to cut your losses? What are the prospects of this company going forward vs. other investments. Westshre had a good last quarter, but they are volatile. They are exposed on the west coat to coal shipping. Pays a modest 2.6% dividend. He has no plans to buy it. He doesn't know if it has downside risk, but its upside is limited.

Michael Sprung
President, Sprung Investment Management
Price
$24.620
Owned
No
SELL
SELL
October 1, 2018

You buy this stock for coal exports heading to the west coast. This is a play on that demand. It has come off sharply, with trade tensions being an issue. If you're uncomfortable with this, sell it and take your losses. Pays a 2.3% yield. Coal is not fashionable and this is not a yield play.

You buy this stock for coal exports heading to the west coast. This is a play on that demand. It has come off sharply, with trade tensions being an issue. If you're uncomfortable with this, sell it and take your losses. Pays a 2.3% yield. Coal is not fashionable and this is not a yield play.

Gavin Graham
Trustee, Pointbreak ETFs
Price
$26.950
Owned
Unknown
COMMENT
COMMENT
August 22, 2018

They've extended their coal contracts which has given the market some confidence in it. Pays a good dividend. Still negotiating with major customer Tech Resources, but he doesn't see Tech moving to another terminal. This is alright, trading at 2x book and 15x earnings. Doesn't know if they will increase the dividend.

They've extended their coal contracts which has given the market some confidence in it. Pays a good dividend. Still negotiating with major customer Tech Resources, but he doesn't see Tech moving to another terminal. This is alright, trading at 2x book and 15x earnings. Doesn't know if they will increase the dividend.

Michael Sprung
President, Sprung Investment Management
Price
$27.110
Owned
Unknown
TOP PICK
TOP PICK
July 25, 2018

The largest coal handling facility in the Western hemisphere. No debt with $58 million in cash. Most of the coal goes into steel manufacturing and they have blending capacity and will be doing another expansion, which will drop their payout ratio. A great infrastructure play that cannot be duplicated. Yield 2.6%. (Analysts’ price target is $26.50)

The largest coal handling facility in the Western hemisphere. No debt with $58 million in cash. Most of the coal goes into steel manufacturing and they have blending capacity and will be doing another expansion, which will drop their payout ratio. A great infrastructure play that cannot be duplicated. Yield 2.6%. (Analysts’ price target is $26.50)

Michael Simpson, CFA
Senior Vice-President, Sentry Investments
Price
$24.090
Owned
Yes
PAST TOP PICK
PAST TOP PICK
July 23, 2018

(A Top Pick Aug 29/17, Up 1%) It is a good underlying business but got caught up in the trade wars. He sold it. He continues to follow this business and might repurchase if the trade wars calm down.

(A Top Pick Aug 29/17, Up 1%) It is a good underlying business but got caught up in the trade wars. He sold it. He continues to follow this business and might repurchase if the trade wars calm down.

Colin Stewart
CEO & Portfolio manager, JC Clark Investments Ltd.
Price
$24.250
Owned
No
TOP PICK
TOP PICK
December 8, 2017

A very straightforward simple business. They own a coal loading terminal off the coast of BC, one of the largest in North America. A very stable, simple business. They basically get coal sent in from rail yards across North America, and earn a fixed fee for every ton of coal they load onto a ship. The majority of their customers are locked into long-term contracts. For the last couple of years, they’ve been spending a lot of capital upgrading equipment. When they did that, they cut the dividend significantly. The Capital Spend is going to be done in 2018, and they’ll be in a great position to ratchet up the dividend. Trading at 9X EBITDA which is cheap. Dividend yield of 2.5%. (Analysts’ price target is $26.)

A very straightforward simple business. They own a coal loading terminal off the coast of BC, one of the largest in North America. A very stable, simple business. They basically get coal sent in from rail yards across North America, and earn a fixed fee for every ton of coal they load onto a ship. The majority of their customers are locked into long-term contracts. For the last couple of years, they’ve been spending a lot of capital upgrading equipment. When they did that, they cut the dividend significantly. The Capital Spend is going to be done in 2018, and they’ll be in a great position to ratchet up the dividend. Trading at 9X EBITDA which is cheap. Dividend yield of 2.5%. (Analysts’ price target is $26.)

Veeral Khatri
Partner and Portfolio Manager, JC Clark
Price
$25.830
Owned
Yes
SELL
SELL
December 1, 2017

Recently sold. It had a dip and struggling to get back up. The chart is a bit hard to interpret as it looks like it could be a choppy ride and could possibly range between about $30 -20. If you own the stock and happy with the dividend so long it doesn’t reach $20, you should be OK. Dividend 3.4%.

Recently sold. It had a dip and struggling to get back up. The chart is a bit hard to interpret as it looks like it could be a choppy ride and could possibly range between about $30 -20. If you own the stock and happy with the dividend so long it doesn’t reach $20, you should be OK. Dividend 3.4%.

Keith Richards
Portfolio Manager, ValueTrend Wealth Management
Price
$24.950
Owned
No
SELL
SELL
November 27, 2017

Hold or Sell? A great business. It has a moat as there is never going to be another terminal to hold coal in BC. They are making a lot of hay now because of the big demand for metallurgical coal. He doesn’t own this because it is a one company customer, being married to Teck Resources (TECK.B-T), which runs into trouble every few years. A brilliant asset, but you need more diversification. Would prefer something like Brookfield Infrastructure (BIP.UN-T) instead.

Hold or Sell? A great business. It has a moat as there is never going to be another terminal to hold coal in BC. They are making a lot of hay now because of the big demand for metallurgical coal. He doesn’t own this because it is a one company customer, being married to Teck Resources (TECK.B-T), which runs into trouble every few years. A brilliant asset, but you need more diversification. Would prefer something like Brookfield Infrastructure (BIP.UN-T) instead.

Barry Schwartz
CIO & Portfolio Manager, Baskin Wealth Management
Price
$24.770
Owned
Unknown
COMMENT
COMMENT
November 16, 2017

A really good asset. Terminals at ports are kind of scarce assets. Long-term, they are good investable assets. This one primarily serves the coal market. With the downturn in coal there was some panic and worries they would lose a lot of business. The stock really got battered, but has had a nice rebound back.

A really good asset. Terminals at ports are kind of scarce assets. Long-term, they are good investable assets. This one primarily serves the coal market. With the downturn in coal there was some panic and worries they would lose a lot of business. The stock really got battered, but has had a nice rebound back.

Alex Ruus
Portfolio Manager, Arrow Capital Management
Price
$24.730
Owned
Unknown
BUY
BUY
October 26, 2017

They have a great asset. They have coal storage and a shipping terminal that is irreplaceable. They take volume rather than pricing risk. The balance sheet is clean and it pays a decent dividend.

They have a great asset. They have coal storage and a shipping terminal that is irreplaceable. They take volume rather than pricing risk. The balance sheet is clean and it pays a decent dividend.

Colin Stewart
CEO & Portfolio manager, JC Clark Investments Ltd.
Price
$24.500
Owned
Unknown
TOP PICK
TOP PICK
August 29, 2017

This has very high barriers to entry. They own a key coal loading and storage terminal on the West Coast of British Columbia. The stock sold off recently because of some concern and rumour that there is going to be a ban by the previous provincial government on thermal coal exports. When that happened, there was a lot of insider buying. Trading at 9X EBITDA. Dividend yield of 2.5%. (Analysts’ price target is $27.)

This has very high barriers to entry. They own a key coal loading and storage terminal on the West Coast of British Columbia. The stock sold off recently because of some concern and rumour that there is going to be a ban by the previous provincial government on thermal coal exports. When that happened, there was a lot of insider buying. Trading at 9X EBITDA. Dividend yield of 2.5%. (Analysts’ price target is $27.)

Colin Stewart
CEO & Portfolio manager, JC Clark Investments Ltd.
Price
$24.800
Owned
Yes
COMMENT
COMMENT
May 31, 2017

The largest coal handling facility in North America. This was recently in the news when the former BC Premier announced that she might not allow coal shipments from the US. A very quality, large infrastructure asset. If this keeps getting beaten up by the market, there might be an opportunity. Dividend yield of 2.9%.

The largest coal handling facility in North America. This was recently in the news when the former BC Premier announced that she might not allow coal shipments from the US. A very quality, large infrastructure asset. If this keeps getting beaten up by the market, there might be an opportunity. Dividend yield of 2.9%.

Michael Simpson, CFA
Senior Vice-President, Sentry Investments
Price
$21.750
Owned
No
DON'T BUY
DON'T BUY
May 18, 2017

Return on Capital went from 13% in 2015 down to 8% in the 1st quarter. In the long run, it had some good returns through the years, but is clearly in a downturn right now. The valuation doesn’t look that great.

Return on Capital went from 13% in 2015 down to 8% in the 1st quarter. In the long run, it had some good returns through the years, but is clearly in a downturn right now. The valuation doesn’t look that great.

Matt Kacur
President, FSA Financial Science and Art
Price
$19.090
Owned
Unknown
COMMENT
COMMENT
May 12, 2017

Thinks of this as extremely steady. The business will improve for the next couple of years. It is basically shipping coal from Alberta/British Columbia to China. The coal business is picking up again. You don’t own this for capital gains, you own it for the highly, highly certain dividend. It will do well for the next couple of years.

Thinks of this as extremely steady. The business will improve for the next couple of years. It is basically shipping coal from Alberta/British Columbia to China. The coal business is picking up again. You don’t own this for capital gains, you own it for the highly, highly certain dividend. It will do well for the next couple of years.

Rick Rule
Pres. & CEO, Sprott USA
Price
$20.670
Owned
No
PAST TOP PICK
PAST TOP PICK
March 30, 2017

(Top Pick Apr 6/16, Up 60%) He bought it when the world was coming to an end for met coal. That has all changed now and the business looks a whole lot better. It has a good return on equity with a reasonably good price momentum but he finds there is better place to fund better valuation.

(Top Pick Apr 6/16, Up 60%) He bought it when the world was coming to an end for met coal. That has all changed now and the business looks a whole lot better. It has a good return on equity with a reasonably good price momentum but he finds there is better place to fund better valuation.

Jason Mann
CIO & Co-Founder, Edgehill Patners
Price
$25.990
Owned
No
COMMENT
COMMENT
February 3, 2017

Probably reasonably priced. If looking for income, you could probably move on to some of the other areas where you have very safe dividends. Dividend yield of 2.5%.

Probably reasonably priced. If looking for income, you could probably move on to some of the other areas where you have very safe dividends. Dividend yield of 2.5%.

David Cockfield
Managing Director, Northland Wealth Management
Price
$25.780
Owned
No
COMMENT
COMMENT
October 26, 2016

This has gone lockstep with Tech Resources (TCK.B-T) this year. Demand for coal has gone up with the steel production side of things. Probably a good one to own for distribution.

This has gone lockstep with Tech Resources (TCK.B-T) this year. Demand for coal has gone up with the steel production side of things. Probably a good one to own for distribution.

Bruce Campbell (2)
President & Portfolio Manager, Stone Castle Investment Management Inc.
Price
$27.000
Owned
No
HOLD
HOLD
August 18, 2016

A great infrastructure play operating on the west coast of Canada. Demand from Asia has dropped off but is picking up. There are take or pay contracts on coal with a number of companies. Hold it even though coal is being phased out because there are still countries that are using it.

A great infrastructure play operating on the west coast of Canada. Demand from Asia has dropped off but is picking up. There are take or pay contracts on coal with a number of companies. Hold it even though coal is being phased out because there are still countries that are using it.

Michael Simpson, CFA
Senior Vice-President, Sentry Investments
Price
$20.350
Owned
Unknown
TOP PICK
TOP PICK
April 6, 2016

A coal terminal, but they care more about volumes than the price of coal. A top holding for him on valuation and improving price momentums. They bottomed shortly after they cut their dividend at the end of last year. Since then they have had quite a run, but he doesn’t think the run is over. ROE is still really strong at 30%. Trading at 5X EBITDA, and 8X PE. Dividend yield of 3.7%.

A coal terminal, but they care more about volumes than the price of coal. A top holding for him on valuation and improving price momentums. They bottomed shortly after they cut their dividend at the end of last year. Since then they have had quite a run, but he doesn’t think the run is over. ROE is still really strong at 30%. Trading at 5X EBITDA, and 8X PE. Dividend yield of 3.7%.

Jason Mann
CIO & Co-Founder, Edgehill Patners
Price
$16.750
Owned
Yes
DON'T BUY
DON'T BUY
February 4, 2016

People had thought this was fairly well protected even though they were a hub for coal, as a lot of the contracts were “take or pay”, but unfortunately a lot of the companies with those contracts have been forced to come back to the table to renegotiate. What had been thought of as stable underpinnings has proven to be not entirely there in some cases. Trading at about 10X with a yield of close to 5%. He would be looking for a lot healthier environment for coal than what we are currently seeing.

People had thought this was fairly well protected even though they were a hub for coal, as a lot of the contracts were “take or pay”, but unfortunately a lot of the companies with those contracts have been forced to come back to the table to renegotiate. What had been thought of as stable underpinnings has proven to be not entirely there in some cases. Trading at about 10X with a yield of close to 5%. He would be looking for a lot healthier environment for coal than what we are currently seeing.

Michael Sprung
President, Sprung Investment Management
Price
$13.100
Owned
No
DON'T BUY
DON'T BUY
January 29, 2016

Coal shipments have not been great, as well as having the world turning against coal. This has come down substantially because of that. Not a particularly attractive long-term investment. He holds a little and is looking forward to selling it on any kind of a rally.

Coal shipments have not been great, as well as having the world turning against coal. This has come down substantially because of that. Not a particularly attractive long-term investment. He holds a little and is looking forward to selling it on any kind of a rally.

David Cockfield
Managing Director, Northland Wealth Management
Price
$13.110
Owned
Yes
COMMENT
COMMENT
January 28, 2016

This has not done well, because it ships coal. Due to slowing demand from China, they are not shipping as much, and some of its customers are in financial difficulty. This is a wonderful asset and is an asset that is going to last forever. It has inflation protection. But right now we are at the bottom and things can get lower and worse. If you believe China or India are going to pick up the slack, then you want to be in the resources.

This has not done well, because it ships coal. Due to slowing demand from China, they are not shipping as much, and some of its customers are in financial difficulty. This is a wonderful asset and is an asset that is going to last forever. It has inflation protection. But right now we are at the bottom and things can get lower and worse. If you believe China or India are going to pick up the slack, then you want to be in the resources.

Barry Schwartz
CIO & Portfolio Manager, Baskin Wealth Management
Price
$12.280
Owned
Unknown
DON'T BUY
DON'T BUY
January 6, 2016

Looking at the valuation, this is cheap. They ship coal which is not a great area to be in. The big problem is their Tech Resources (TCK.B-T) contract with which they have to renegotiate, but doesn’t think Tech is just going to roll over and take the same pricing. There might be some pricing pressure which could reduce the dividend. At this point, there is a huge risk. Not too much to be had over the next 6-12 months. Risk is way too high.

Looking at the valuation, this is cheap. They ship coal which is not a great area to be in. The big problem is their Tech Resources (TCK.B-T) contract with which they have to renegotiate, but doesn’t think Tech is just going to roll over and take the same pricing. There might be some pricing pressure which could reduce the dividend. At this point, there is a huge risk. Not too much to be had over the next 6-12 months. Risk is way too high.

James Telfser
Partner & Portfolio Manager, Aventine Management Group
Price
$10.990
Owned
No
COMMENT
COMMENT
December 31, 2015

More of a toll booth; they just push the stock through. Have cut their dividend twice. The issue is that they have a contract with Tech Resources (TCK.B-T) at a certain price and thinks the price is going to be lowered. Also they are expanding their facilities because of Tech and have had a lot of CapX lately.

More of a toll booth; they just push the stock through. Have cut their dividend twice. The issue is that they have a contract with Tech Resources (TCK.B-T) at a certain price and thinks the price is going to be lowered. Also they are expanding their facilities because of Tech and have had a lot of CapX lately.

Paul Harris, CFA
Partner and Portfolio Manager, Harris Douglas Asset Management
Price
$11.650
Owned
Unknown
DON'T BUY
DON'T BUY
December 17, 2015

It is dependent on the coal market. They cut the dividend a while ago and might do it again. They are a one trick pony.

It is dependent on the coal market. They cut the dividend a while ago and might do it again. They are a one trick pony.

Stephen Takacsy, B. Eng, MBA
Chief Investment Officer & Portfolio Mgr, Lester Asset Management
Price
$12.770
Owned
Unknown
COMMENT
COMMENT
December 11, 2015

Just had a dividend cut and the stock was absolutely decimated. Thinks the fall in the stock price is when 2 of their customers said they are no longer going to ship coal. The stock is pricing as though their largest customer, Teck Resources (TCK.B-T) is going bankrupt. Teck’s coal exposure is only about 25% of its business. Also, has copper and other base metals and have no debt with about $40 million-$50 million in cash. For a long-term investor, this is actually not a bad time to start looking at this company.

Just had a dividend cut and the stock was absolutely decimated. Thinks the fall in the stock price is when 2 of their customers said they are no longer going to ship coal. The stock is pricing as though their largest customer, Teck Resources (TCK.B-T) is going bankrupt. Teck’s coal exposure is only about 25% of its business. Also, has copper and other base metals and have no debt with about $40 million-$50 million in cash. For a long-term investor, this is actually not a bad time to start looking at this company.

Andrew Hamlin
VP & Portfolio Manager, Aston Hill Financial
Price
$12.800
Owned
Unknown
COMMENT
COMMENT
December 1, 2015

The CEO, Jim Pattison, is one of the best Canadian investors. Believes he has been buying more of his own stock. This is not his kind of company right now as it is too expensive.

The CEO, Jim Pattison, is one of the best Canadian investors. Believes he has been buying more of his own stock. This is not his kind of company right now as it is too expensive.

Benj Gallander
President, Contra the Heard Investment Letter
Price
$18.250
Owned
No
HOLD
HOLD
November 24, 2015

Large coal export facility in BC. Just cut their dividend because the coal business is in trouble. This rates pretty high in his ratings. It has a low PE. China does need our metallurgical coal, so they will utilize these terminals.

Large coal export facility in BC. Just cut their dividend because the coal business is in trouble. This rates pretty high in his ratings. It has a low PE. China does need our metallurgical coal, so they will utilize these terminals.