Kinross Gold, Northland Power Inc and More at 52-week Highs (Sep 16-22)

Opinion about AIM-T: Event driven investment (not long term) based on cash on the balance sheet. Lots of cash on the balance sheet. Estimate sum of parts share value is $7 when currently trading at $4 on the markets.

Opinion about EFH-T: Involved in nonstandard automobile/motorcycle insurance as well as home insurance. BV of around $14.37 but Tangible Book is $13.50. No debt. Overly capitalized by over $35 million. Stable management. Basically Canadian, but their big driver is Europe. 25%-30% growth. Will probably earn about $1.30 next year. Have an option of putting in…

Opinion about FSV-T: Compounded its way to extremely high valuation. Well run. Great serial acquirer. Trying to get into renovation and disaster restoration. Lumpy segments. Thinks roofing will be a home run.

Opinion about DOC-X: Did very well during the pandemic, a market darling then. But their acquisitions didn't make sense to him and they have caught up with them with poor integration. The hype is over and shares have plunged since 2020.

Opinion about AMM-T: (Market Call Minute.) In a big gold system and he likes it.

Opinion about BSX-T: They have a large Brazilian gold deposit. The problem here are indigenous people challenges there and a government contract that pays out a crazy amount to the managers. This payout is not aligned to the shareholders' interests. Then again, it's a cheap stock vs. gold in the ground.

Opinion about CIA-T: Trevor Rose’s Insights - Trevor’s most-liked answers from 5i Research EPS came in at $0.24 beating estimates of $0.20. Revenue came in at $506.89M beating forecasts of $486.08M and displayed growth of 31% year-over-year. Profit more than doubled on a year-over-year basis coming in at $126.46M. The board approved the company's $470.7-million…

Opinion about CS-T: (A Top Pick Mar 04/24, Up 7%) Will grow 30% in 2025 due to continued growth in core asset. FCF becomes an inflection point in 2025. Bit of geopolitical risk in Chile. Looking for a partner for its next major project to drive growth from 2030 on.

Opinion about EDV-T: Owns shares in company. Troubled by CEO replacement, however assets in West Ghana are valuable. Will continue to hold. Has lots of value in company. 

Opinion about FM-T: Looking at it with renewed interest. Political situation has changed, license may be reinstated. That's critical to this company going forward, but also critical for Panama. Multi-decade reserve life, produces 1.5% of world's copper. Cautiously optimistic. Potential outsized upside for a risk-hungry investor.

Opinion about FVI-T: Cheap on any fundamental basis. Jurisdictions it operates in keeps a lid on it. Pretty good at the acquire-and-develop business model. His one criticism is that instead of having one Tier 1 asset, it has a collection of Tier 2s. Very strong development pipeline; FCF looks good 3 years out, even with…

Opinion about LAC-T: Not bullish on Lithium, but company is well run. Expecting prices of Lithium to fall. Too much interest at these levels. Waiting for weakness. 

Opinion about NCP-T: A small, very speculative land holder in Canada. Higher nickel prices may push this stock higher

Opinion about NGD-T: Collection of Tier 2 assets. Never been fond of Ontario assets. He likes higher quality. Could do very well with a rising price for gold, which tends to favour the marginal over the lower-cost producer.

Opinion about PG-T: Hold until sale to Equinox, or buy more? He holds both to benefit from long-term effects of inflation. He thinks the takeout is great. EQX is well run, a buy, with a $12 price target.

Opinion about PVG-T: (A Top Pick Dec 07/18, Up 36%) A volatile stock, but he likes the golds, holding 10-20% in a portfolio. Gold has a long runway.

Opinion about ROXG-T: (A Top Pick Dec 15/20, Up 12%) Taken over. He got out when the deal was announced, as the acquirer wasn't somewhere he wanted to put his money.

Opinion about SBB-T: (A Top Pick Mar 03/20, Up 14%) Are developing gold in Nunavut in a fully-permitted, high-grade, open-pit project. The knock is that it's in a northern frontier which means higher costs to fly in and out supplies, and it's less easy to work up north. He's owned this stock for years and…

Opinion about TI-T: They have had a fantastic track record on the exploration front. They bought a shut in zinc mine and then the price of zinc dropped. He would stay away from it until they delineate new zones they can extract ore from.

Opinion about DEF-X: A silver play in Mexico, one of the last great potential silver discoveries, i.e., an extension of the vein in terms of the length, width and depth. A great play and a good speculation.

Opinion about REG-X: He's a fairly big shareholder and a fan of management. Absolutely believes Peru project will become a mine. Copper price has done well, and gold price has done extremely well. Ongoing regulatory and capital challenges. Expects stock volatility, but much higher over next 3 years. You'll need to be patient.

Opinion about GMX-T: It is not a mining company, but a project generator. The CEO has done this for 25 years. He then sells off projects to companies that try to turn them into mines. He gets stock and a royalty in exchange. He has about a 160 properties. Some day the CEO will want…

Opinion about HBM-T: Copper and gold. Significant FCF. Market's waiting to see what happens with its massive copper project in Arizona. Will probably need to find a partner on this one, would boost production by 50%. He hopes for shovels in the ground in 2026, then 2-3 years before first production comes online.He's watching it…

Opinion about MMX-N: One of the highest quality mid-cap royalty stocks in the space. Closer to the lower end of the trading range. More of a buy than a sell. He's delighted to own it.

Opinion about TKO-T: Does not own shares. Prefers companies companies with lower costs and higher return on capital. 

Opinion about CMMC-T: Just completed an expansion. A bit more debt leveraged. Fortunes rise and fall with copper, especially with a recession scenario. China's problems aren't helping. Should be back to $3 in next 3-6 months, $4 in a year. Operational issues in Q1. Second half should improve. Sit tight. You could dip your toe…

Opinion about CXB-X: Does not own shares, but could be a good option for short term traders. Unsure on direction of company. 

Opinion about K-T: Whole bunch of decent assets, including a new one in Ontario. Stock will either go up of its own volition, or get taken over. Stock's performed well due to good cost containment. Good production growth and pipeline. Firing on all cylinders.

Opinion about STA-X: (Top Pick Nov 8/12, Down 76.12%) He got out in the 4th quarter last year. They were the donut around the deposit. With Gold falling off and the market changing, there is now no rational reason to own it.

Opinion about AT-T: Too small for his fund. He's neutral on it. Analysts' 12-month target of $4.60. Digital media AI solutions for advertisers. Cutting edge. Phone providers have privacy concerns on this type of app. You could buy in thirds here, $2.50, and 2.

Opinion about MAXR-T: (A Top Pick Oct 07/20, Down 7%) Not long after making the recommendation the stock benefited from a lot of ETF buying. They exited on the strong buying on a much higher gain. Since then, the ETF buying has evaporated and the stock price has come back down.

Opinion about AIF-T: Are now a pure-play tech company after selling non-tech businesses. With that cash, are buying back shares. They globally lead in software for data analytics valuing and monitoring commercial real estate assets (banks, insurance companies and property managers are clients). 75% of revenues are recurring and high margin. Trades at a huge…

Opinion about ILA-X: Provides a service very similar to Alphabet (GOOGL-Q), which is provided for free. When your competitor is providing your services free, it is tough to be competitive.

Opinion about MRS-X: Trevor Rose’s Insights - Trevor’s most-liked answers from 5i Research. MRS closed a small financing last week, but there has been no other news. Trading volume picked up a bit, but dollar value of trading remains quite low. Still, it is up 68% YTD with a January small cap bounce. Unlock Premium - Try…

Opinion about BU-T: Extracts protein from vegetables like canola, peas, and soy. Has 285 patents. There is negligible revenue despite the company being around for more than 20 years. Difficult to apply fundamental analysis. Too speculative for him. Need to see revenue and profit.

Opinion about MDI-T: Very international. Largest exploration drilling company in the world, just bought the second-largest. The world needs copper. Gold prices are up. He's been accumulating. Headwinds of negative sentiment, but it's a great holding.

Opinion about TIH-T: Long-term wonderful company. Very little debt. Sells, rents, and leases equipment. If economy slows, can fall back on revenues from servicing equipment. Increases dividend ~10% a year. A stock with a lot less volatility, which can grow slowly over time. Decent time to buy right now.His 3 Top Picks today are based…

Opinion about INP-X: They do canola mainly. At these prices the stock is so cheap. He sold because he was not seeing enough capital being deployed in Canola streams.

Opinion about LOT-X: One of the few stocks that has been going up. Have drilled some good holes in Québec. Good high-grade widths at depth were previous drilling was off to the side but not great. It only has 3 holes into it and they are currently drilling off to the sides. Until it is…

Opinion about EFL-T: Trevor Rose’s Insights - Trevor’s most-liked answers from 5i Research. EFL is a manufacturer of lithium-ion cells and battery systems, which are crucial for the transition to electrification of vehicles. EFL’s operating results have been good in recent quarters and the stock is now trading at 24x times' EV/EBITDA. In the 2Q,…

Opinion about WELL-T: Trevor Rose’s Insights - Trevor’s most-liked answers from 5i Research The quarter was good. The question referenced was asking what it would take to get the stock moving more. We answered that debt and cash flow need to improve to get a higher valuation.  We are comfortable with the outlook and current…

Opinion about LNF-T: How do you feel about the consumer? This name is based on sentiment and consumer's comfort with buying big-ticket items. Dominant player in Canada. He wants companies that can grow 20+% a year, and he struggles with being able to sell 20% more couches, etc. Conservative choice. Don't buy right now.Just because…

Opinion about NWC-T: Trevor Rose’s Insights - Trevor’s most-liked answers from 5i Research NWC reported earnings, and sales missed estimates. EPS was 53c vs 53c last year and estimates of 57c; revenue of $641.4M rose 3.9% year over year but missed estimates of $650.7M. Comparable sales were +3.5% vs 3.8%. EBITDA rose 10% to $78M…

Opinion about WBR-T: Billy Kawasaki’s Insights - Billy’s most-liked answers from 5i Research. Sales were 3% less than expected. EPS was better, at 4.8cents. Revenues grew 15% thanks to pandemic restrictions being eased. EBITDA rose 67%. A good recovery quarter. Ok buying this for small cap allocation. Unlock Premium - Try 5i Free

Opinion about WN-T: Owns the majority percentage of Loblaw, so does well when Loblaw does well. Defensive. No longer that cheap. Good name to hold in this type of environment, but wait for a pullback.

Opinion about TRIL-T: Pfizer bought it today, and TRIL shares tripled from $6 to $18 in the blink of an eye. That's why he always advises investing in small drug companies; sometimes they pan out.

Opinion about NPI-T: (A Top Pick Jun 10/24, Down 5%) She's more in favour of it now than a year ago. The chart shows that the stock's slowly starting to take off. Sees an upward trajectory from here. Projects continue to come in under budget and ahead of schedule.

Opinion about CWEB-T: Wellness drives CBD demand and there's more competition entering this space. The CBD market continues to expand into drinks and food. He used to own this, but sees better opportunities. But CWEB is one of the U.S. leaders in this crowded space, so it's okay. You want to be in this space.

Opinion about XLY-T: Their model is based on getting royalties off the cannabis companies they produce. They've done some smart deals and have been able to put pressure on producers who needed money. Not sure why it moved so down today.

Opinion about SOX-T: In the construction space his favorite is WSP Global. SOX is similar and he thinks they may be a value trap as there is some concerns about the dividend, the strength of the balance sheet and their ties to the energy sector.

Opinion about JE-T: They sell energy contracts. They have under gone several management changes over the years. He is not a great fan of this business model.

Opinion about TRZ-T: Air traffic is a growing business, and this company services the smaller end of the market. A dangerous business, as it requires a lot of capital and can be hit by black-swan events like the pandemic. Low-quality play. Speculative.See his Top Picks.

Opinion about TBP-T: This has limited history, but it is a $1.50 stock that is acting quite well. It’s too early in its history for him to have too much of a comment on it. It certainly looks like it is going higher, and he would watch it.

Opinion about ATE-T: Part of their trial was suspended. Some of the patients had above normal liver enzymes. However, other arms are proceeding. The findings will show whether it has less liver toxicity. Have enough cash to go on for 2.5 more years.

Opinion about GBU-X: They own the Rosia Montana gold mine in Transylvania. Have been trying to get permitted for approximately the last 10 years. This is going to continue to be an uphill battle. The resource is tremendous but he feels this is stuck in the jurisdiction where they don’t want the mine to go…