Genworth MI Canada Inc. (MIC-T) Stock Predictions - Stockchase
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Genworth MI Canada Inc. (MIC-T)

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Genworth MI Canada Inc.

MIC-T

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Genworth MI Canada Inc. (MIC-T) SAVE Apr, 24, 2019, 4:57 pm

41.37 0.46 (1.12%)

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PAST TOP PICK
Genworth MI Canada Inc.(MIC-T) 

September 17, 2018

(A Top Pick Jun 28/17, Up 30%)  This is the non-bank financial that he likes a lot.  They do not insure high risk mortgages and this was an issue with Home Capital and it caused the stock to sell off at the time he recommended this one.  It is still cheap overall with a PE of 9 times.  It has a solid balance sheet, and he still likes it.  The concerns that kept it cheap are now behind them.

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(A Top Pick Jun 28/17, Up 30%)  This is the non-bank financial that he likes a lot.  They do not insure high risk mortgages and this was an issue with Home Capital and it caused the stock to sell off at the time he recommended this one.  It is still cheap overall with a PE of 9 times.  It has a solid balance sheet, and he still likes it.  The concerns that kept it cheap are now behind them.

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Jason Mann

CIO & Co-F, Edgehill Patners...

Price Price
$43.850
Owned Owned
Yes

TOP PICK

There has been a cloud over anybody in the mortgage business. This one is a little different. They are a mortgage reinsurer, but they don’t insure Alt A or subprime mortgages. They also have the ability to push back an underwriter if there was fraud. Trades at 6.4X Price to Free Cash Flow with a double-digit return on equity and 8X PE. Dividend yield of 5%. (Analysts’ price target is $37.50.)

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There has been a cloud over anybody in the mortgage business. This one is a little different. They are a mortgage reinsurer, but they don’t insure Alt A or subprime mortgages. They also have the ability to push back an underwriter if there was fraud. Trades at 6.4X Price to Free Cash Flow with a double-digit return on equity and 8X PE. Dividend yield of 5%. (Analysts’ price target is $37.50.)

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Jason Mann

CIO & Co-F, Edgehill Patners...

Price Price
$35.910
Owned Owned
Yes

DON'T BUY

It has been pounded down along with everything else.  You are playing that the real estate market is not going to collapse.  See Top Picks.

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It has been pounded down along with everything else.  You are playing that the real estate market is not going to collapse.  See Top Picks.

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Ross Healy

Chairman, Strategic Analysis C...

Price Price
$33.820
Owned Owned
Unknown

COMMENT

This is in a bit of a tug-of-war. CHMC has always been the dominant incumbent mortgage insurer. Given political concerns about elevated risks on housing, the government has been trying to offload some of their balance sheet risks and limiting mortgages, and that has accrued to the benefit of companies like this. It has a reasonably strong credit and bonds are BBB rated. The stock is trading below BV. A respectable yield. This is too fraught with risk for him to get all that enthusiastic at this stage.

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This is in a bit of a tug-of-war. CHMC has always been the dominant incumbent mortgage insurer. Given political concerns about elevated risks on housing, the government has been trying to offload some of their balance sheet risks and limiting mortgages, and that has accrued to the benefit of companies like this. It has a reasonably strong credit and bonds are BBB rated. The stock is trading below BV. A respectable yield. This is too fraught with risk for him to get all that enthusiastic at this stage.

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Brian Madden

Senior VP , Goodreid Investment ...

Price Price
$36.700
Owned Owned
No

COMMENT
Genworth MI Canada Inc.(MIC-T) 

November 10, 2016

They just reported, and increased their dividend significantly again. The share price drop kind of puzzled him. It may have been a bit of an indictment, with the federal government and regulators saying that they were worried about the Canadian mortgage market. People may have sold down their shares on that news. Feels there will be a slowdown in Canadian housing, which will slow down the number of mortgages written, and thus the number of mortgages insured. The share price could go down further, and this is a company he would be looking at. Dividend yield of 5.8%.

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They just reported, and increased their dividend significantly again. The share price drop kind of puzzled him. It may have been a bit of an indictment, with the federal government and regulators saying that they were worried about the Canadian mortgage market. People may have sold down their shares on that news. Feels there will be a slowdown in Canadian housing, which will slow down the number of mortgages written, and thus the number of mortgages insured. The share price could go down further, and this is a company he would be looking at. Dividend yield of 5.8%.

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Ryan Bushell

President, Newhaven Asset Manag...

Price Price
$30.360
Owned Owned
No

TOP PICK

He bought it after the change in mortgage rules.  They are the second largest provider of mortgage insurance.  He thinks there will be no housing bubble crash.  The risk reward for the 6% dividend yield is much more to the upside.  They will be fine if employment in Canada does not go down.

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He bought it after the change in mortgage rules.  They are the second largest provider of mortgage insurance.  He thinks there will be no housing bubble crash.  The risk reward for the 6% dividend yield is much more to the upside.  They will be fine if employment in Canada does not go down.

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John Kim

Portfolio , Aston Hill Financial...

Price Price
$28.030
Owned Owned
Yes

COMMENT

The largest independent mortgage insurance provider. The stock had a big drop today. Part of the concern of the street is that Ottawa is asking some of the lenders to bear part of the risk, particularly on certain mortgage sizes. He has not been particularly interested in this name.

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The largest independent mortgage insurance provider. The stock had a big drop today. Part of the concern of the street is that Ottawa is asking some of the lenders to bear part of the risk, particularly on certain mortgage sizes. He has not been particularly interested in this name.

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Jerome Hass

Portfolio , Lightwater Partners...

Price Price
$31.170
Owned Owned
No

COMMENT

A value stock, but that has been the case for many years, and has been somewhat of a value trap despite management’s decent execution. This is not a growth business anymore. If you are concerned about Canadian real estate, this is definitely a name to be concerned about. As well, they have exposure to Western Canada, and how that is going to impact their results. 5.1% dividend yield should be safe.

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A value stock, but that has been the case for many years, and has been somewhat of a value trap despite management’s decent execution. This is not a growth business anymore. If you are concerned about Canadian real estate, this is definitely a name to be concerned about. As well, they have exposure to Western Canada, and how that is going to impact their results. 5.1% dividend yield should be safe.

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Steve Belisle

Senior Por, Manulife Asset Manag...

Price Price
$32.710
Owned Owned
Unknown

DON'T BUY
Genworth MI Canada Inc.(MIC-T) 

December 15, 2015

A default mortgage insurance broker. The chart on this shows lower highs and forming a descending triangle. It is now breaking below this pattern, which is actually bearish because it has broken support. If you are betting on this, you are betting on the housing market in Canada as being strong. There are a lot of questions around that right now.

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A default mortgage insurance broker. The chart on this shows lower highs and forming a descending triangle. It is now breaking below this pattern, which is actually bearish because it has broken support. If you are betting on this, you are betting on the housing market in Canada as being strong. There are a lot of questions around that right now.

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Brooke Thackray

Research A, Horizons ETFs (Canad...

Price Price
$26.730
Owned Owned
No

TOP PICK
Genworth MI Canada Inc.(MIC-T) 

November 24, 2015

Default mortgage insurance providers.  Likes the dividend yield of 5.66%. Cheap on a PE basis at about 8X. Also, trading below BV. There is a large Short position on this, which could result in a very nice upside as the Shorts are focusing too much on the valuation of the housing market. There are definitely pockets in Toronto and Vancouver, but doesn’t feel this is a problem for this company.

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Default mortgage insurance providers.  Likes the dividend yield of 5.66%. Cheap on a PE basis at about 8X. Also, trading below BV. There is a large Short position on this, which could result in a very nice upside as the Shorts are focusing too much on the valuation of the housing market. There are definitely pockets in Toronto and Vancouver, but doesn’t feel this is a problem for this company.

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Allan Meyer

VP & Portf, Wickham Investment C...

Price Price
$29.680
Owned Owned
Yes

DON'T BUY

If the housing market got really bad (dropped 20-30%) here this company would go to zero.  This is unlikely, however.  This is a very binary type of situation.  It is like picking up nickels in front of a bulldozer.

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If the housing market got really bad (dropped 20-30%) here this company would go to zero.  This is unlikely, however.  This is a very binary type of situation.  It is like picking up nickels in front of a bulldozer.

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James Hodgins

Chief Inve, Curvature Hedge Stra...

Price Price
$30.000
Owned Owned
Unknown

DON'T BUY

Would be really cautious on this. Had a very good run. The story has been leveraged on the government’s CMHC program clawing back and allowing them to really prosper, which he thinks it can do. But, at the end of the day, you’re taking consumer credit risks. From the macro numbers he sees, that gives him pause. Also, it is a little on the expensive side.

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Would be really cautious on this. Had a very good run. The story has been leveraged on the government’s CMHC program clawing back and allowing them to really prosper, which he thinks it can do. But, at the end of the day, you’re taking consumer credit risks. From the macro numbers he sees, that gives him pause. Also, it is a little on the expensive side.

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Patrick Horan

Portfolio , Agilith Capital Inc...

Price Price
$37.750
Owned Owned
No

COMMENT

This tends to increase dividends in the 3rd quarter, so you should look for one in August. Anything related to the mortgage business is tied to interest rates. Although interest rates have come off currently, he believes their ultimate direction is up. That will put pressure on anybody who is related to that business. He would be little bit cautious. Prefers Canadian banks.

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This tends to increase dividends in the 3rd quarter, so you should look for one in August. Anything related to the mortgage business is tied to interest rates. Although interest rates have come off currently, he believes their ultimate direction is up. That will put pressure on anybody who is related to that business. He would be little bit cautious. Prefers Canadian banks.

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Ryan Bushell

President, Newhaven Asset Manag...

Price Price
$39.540
Owned Owned
No

HOLD

Private mortgage insurance.  Finally broke out and did well.  You have had most of the catch up in valuation.  He would be nervous going forward with the Canadian real estate market continuing.

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Private mortgage insurance.  Finally broke out and did well.  You have had most of the catch up in valuation.  He would be nervous going forward with the Canadian real estate market continuing.

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Bruce Campbell

President, Campbell and Lee Inv...

Price Price
$36.580
Owned Owned
No

PAST TOP PICK
Genworth MI Canada Inc.(MIC-T) 

December 27, 2013

(A Top Pick Dec 28/12. Down 65.71%.) 3 Shorts. He is now layering this trade back on now because the spike in rates in May through August pulled forward demand in the housing market.

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(A Top Pick Dec 28/12. Down 65.71%.) 3 Shorts. He is now layering this trade back on now because the spike in rates in May through August pulled forward demand in the housing market.

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James Hodgins

Chief Inve, Curvature Hedge Stra...

Price Price
$36.710
Owned Owned
Yes

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