Couche-Tard, Eagle Energy Inc and More Earnings Reports this Week (Mar 18-22)

In a patent dispute with Citrix (CTXS-Q), which looks like it is going their way but the same thing happen to him or five years ago when one of the judges derailed the whole process. Now back on track, but Citrix has a lot of firepower and money so they can delay it. Long, drawn…

There had been concerns in the semi-conductor space and the produce very sensitive temperature monitoring devices for semiconductors. They deal with the five big producers around the world. New management has led to increased orders and now cash is growing. The stock is reasonably priced, he thinks. A great company and well managed -- likely…

This has an igneous phosphate deposit, as opposed to the sedimentary type of deposit that comes from Morocco. They have a positive feasibility study and a very high CapX, and are working through the permitting cycle. What they need is one of the big agricultural companies to do a buyout and develop it. It’s not…

Cobalt is a partner commodity in the production of lithium batteries. Earnings are expected to be negative in 2019. Cobalt prices have risen sharply, causing manufacturers to find a way to move away from using it -- nickle may replace it (as an aside Sherritt could be a potential benefactor of this). He would consider…

The best of the best. High quality company. Sells at a premium but it is worth it. Best capital allocator in the space. The Administrative expense ratio to Cash flow is 0.12%. Very lean company ran for the benefit of shareholders. (Rick Rule)

They've been around for a while and own a lot of the Ring of Fire's nickel deposits. Ontario was supposed to open infrastructure so these deposits would get mined. It's a government and infrastructure play. But NOT has a lot of debt, with no cash flow. Government involvement can work out long-term. (Joe Mazumdar)

Agnico-Eagle (AEM-T) came in a while ago and made a 9.9% stake in this company. The stock went up, but it really hasn’t done much since then. Then Barrick (ABX-T) came in and said they really liked the deposit and wanted to do a joint venture. This is a much better approach that is better…

It's been stuck at these levels for a long time, but likes recent volumes. No problem buying this one. (Elliott Fishman)

Too small. Nice people. Nice deposit. he doesn't like big risk for small reward. (Rick Rule)

Sees no change to the dividend theory. The 3 Irish business millionaires actually control the company and are holding it long-term for the dividends. The company has some costs going on disadvantaging it. The diamond sector itself has not produced really stellar performance. This is a “wait and see”. (Michael Smedley)

There are no generalist investors left, only a few specialist investors. The sector has been left for dead. When the tide turns the capital will go into WPM-T first. He has a holding to be positioned for the next bull market. They have 5% free cash flow yield. The large caps have slimmer margins. (Jon…

Have a good open-pit project in the Yukon with a good production profile. You own this as a take-out target. They are doing a lot of exploration around the area to prove the upside potential and de-risk any development issues. (Joe Mazumdar)

Mongolia. Optimistic themselves. Can’t give advice. (Michael Smedley)

Shale gas in the US. A spin out from Bankers Petroleum (BNK-T). There is a lot of potential excitement but it just doesn't have the same management quality team. Just too risky in the market at this point. (Peter Hodson)

(A Top Pick Nov 6/14. Down 75%.) One of their key assets is an oil/gas services business, so it has come under a lot of pressure. This is a high risk/high reward situation. Still very much a binary outcome. It is either going to come under a lot of pressure with bankruptcy risks, or the…

NexGen vs. Fission He owns both Fission and NexGen. They're far from infrastructure in the Athabasca Basin and would be challenged if it wasn't for their deposits being large and of quality (and next to each other). They could get built as a pair. The Fission deposit is borderline-tier one deposit, whole Nexgen's is. The…

Pengrowth (PGF-T) and Perpetual (PMT-T)? Had some challenges with their balance sheet over the last couple of years with the collapse in oil prices. This one would be a little riskier. If you really see a big jump in commodity prices, this probably has a lot more upside than Pengrowth (PGF-T). (Jim Huang)

Is a light and medium oil producer. This was a $15 stock 5 years ago. It is very cheap. Their dividend is very sustainable at $57-60 oil values. It is undervalued but there may be other opportunities elsewhere. It is an example of how the small cap companies are challenged in Canada. You probably want…

He stayed away because they went to the states to make acquisitions.  He did not know why the Americans would not already take these assets.  He stays away from it. (Robert Lauzon)

29% debt to book value. $2.81 is their book value. He thinks they will increase production in the fourth quarter. (Guest's target: $2.50). (Josef Schachter)

(A Top Pick Feb 12/18, Down 36%) They are going to double their production in the next few months. They are delisting from Canada in the next few months. You can trade on the AIM but costs are higher than the venture. Small investors are getting out of the stock. (Josef Schachter)

The million-dollar question: so where the price of uranium will go, because it's been dead for so long. Don't put new money into it. A long-term play, not short-term. (Elliott Fishman)

It will be the turnaround story for 2019. They are cutting costs in the pharma business. They have these surgery clinics that are up for sale. The market is speculating that they will get a really good price for them. They will pay down most of their debt. They may become more of a takeover…

This is a small company that he has focused on as a Top Pick in the past.  The turnaround for the company is definitely taking traction now.  They recently did an acquisition that will take it into better opportunities.  He thinks this stock could get to $3-$5.  (Jason Del Vicario)

Thinks the newspaper business is going to have some fundamental issues going forward that are going to be fixable. None of the younger generation take newspapers. (Brendan Caldwell)

It has been very well managed and has been one of the better performers.  He is staying away from restaurants as they are expensive and have very little growth.  This is one of the better ones, however.  If you are happy with the dividend then hold on to it. (Stephen Takacsy, B. Eng, MBA)

A success story, expanding their acquisition over the years. It's priced as a growth stock and beyond valuations he would consider. They've done well with convenience store with strong margins. U.S. fuel margins rose higher than the street expected, too. But if you own this, perhaps move into something more conservative--take some profits. (Michael Sprung)

He sees about 20% upside from here. He would

Have to be careful with tech companies in this space. Something becomes a darling, and the market thinks everything will move in this direction. Doesn’t see this happening. Doesn’t want to bet on one technology here. Natural gas is seen as a bridge fuel. But with energy moving in a greener direction, what will happen…

$100 was a breakout. Now we're at the bottom of a head and shoulders. The top will be the next big test up. Anything above $100, continue to hold. No reason to panic. It's doing the consolidation it needs to do. (Elliott Fishman)

This snow mobile marker was the crown jewel carved out of Bombardier. It is probably worth looking at and is a well run business. He has been waiting for a reason to buy -- maybe it is now. (Fabrice Taylor)

(A Top Pick June 23/08. Down 44.2%.) Deere dealerships. Expected agriculture to not get hit with the down draft. Still bullish on agriculture. Makes more than $2 a share but earnings are expected to go down this year. Extremely cheap. Yield of 8.9%. Bullish on Western Canada. Good management. (Jean-Francois Tardif)

Seasonality is Dec.2-April 15 when it beats the benchmark by 21%. These tech-related stocks are starting to bottom lately, but not outperforming during the market low. That said, it is a rounded bottom since Q4 2018 and is curently holding its lows. If it can prop higher, this could be a tremendous buying opportunity. The…

It's stronger than a few years before. They have innovative technology used in construction and design. They're big in healthcare and office design. The new managers must aim for less volatility and diversify their customer base, which he believes they are executing. Given their 30-40% growth rate and trading at 17x, this isn't expensive. Also,…

Likes the management team; it’s just the business model that he doesn’t really like. Generally they have a portfolio of about 12 investments, and if he is going to invest in something along that basis, he would make those investments himself. Unless there is something particular in those portfolios that he can’t replicate himself, he…

Strongco (SQP-T) or Finning (FTT-T)? Finning has a better long-term track record. Both are good long-term holdings. Heavy equipment is very much driven by economic cycles but wouldn't be too excited at this time. (Jason Donville)

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)

It'll be flat this year. It's very illiquid, so likely way cheaper than it ought to be. Good balance sheet. Cheap at 8x earnings. The payout ratio is safe. You can buy and win with this. (Greg Newman)

(A Top Pick April 25/16. Up 16.15%.) A small investment management firm. Historically they have done very well in investing in both public and private oil companies, and buying and selling assets. They delivered a special $2 dividend to shareholders in June. He is a little less bullish on this now. Trading at a slight…

This is going to be a tough company for the retail investor to own into. There are obviously some very good personalities behind this company, but there are not a lot of earnings right now. They have a lot of investments that are in non-public companies or almost like venture capitalist type of investments. There…

Loved the REIT sector a few years ago. He watched this one a little bit but it didn’t fit into his qualifications. When you have a sector that is in a recovery mode and you have some that are not only laggards but are real dogs, you have to take a really strong look at…

Base metals are forming a bottom anyway.  It is reasonable to assume SCP will do better than it has done in the recent past.  He has only contemplated buying it. (Michael Smedley)

They pick up vintage, expensive handbags they find in Asia then sell them here in kiosks. Interesting business, but has performed poorly. He didn't buy it. (Bruce Campbell (2))

A dominant land registry business with a contract with the Saskatchewan government lasting 15 years. Their technology division provides registry software around the globe. Also have a services business to supply info to corporations. High barriers to entry and generates a lot of free cash flow. Trades at a discount valuation. 5% dividend. A steady…

It is highly leveraged and the payout ratio is close to 100%, recently they cut the dividend and there was management turnover.  There were a lot of complicated transactions, some of which were not arm’s length. (Andy Nasr)

The parent is discounted on a NAV basis relative to the underlying assets. He does not like the sub-underlying companies, especially on the investment service side. He would prefer to hold their preferred shares. The yield is well covered. Yield 5.5% (Ryan Bushell)

It is a well established business. It is diversified. There is the wealth management business. The dividend is safe. The broad mutual fund business is under pressure. Buy it for yield but not for growth. See Canadian banks. (Kash Pashootan)

Interest rates won't rise much, which should help this. He likes APR's concept of owning the land on car dealerships which continue to pay APR (and its stockholders). He doesn't see a decrease in car sales. (Zachary Curry )

It's a preferred share ETF. It provides income. It's a hybrid between a stock and a bond. This gives you a good position in a Canadian taxable account. (Mike Philbrick)

Inovalis (INO.UN-T) or Dream Global (DRG.UN-T)? There is probably too much duplication to own both. These assets are a little more spread out, and concentrated in France. Instead of buying Canadian names that have exposure to Europe, he is actually going directly into Europe and buying some names. (Andy Nasr)

They were successful last quarter. They are very levered to assets. It trades at 10 times with a 7% yield. Management is incented to raise the dividend. (Analysts’ price target is $14.54) (Lyle Stein)

He bought it as a value play with sum of the parts worth more than it was trading at.  They are trying to sell some of the parts.  Thinks they will sell all the parts and distribute the cash.  $4-$5 breakup value.  It is taking longer than he thought to break it up. (Stephen Takacsy,…

(A Top Pick March 29/17, Up 33%)  They license health care products from outside of Canada.  They have been very good at providing consistent return on equity as well as earnings growth.  This year will be an interesting time.  They are sitting on almost $20 Million as a war chest and adding to it every…

Robotic surgery. Intuitive Surgical (ISRG-Q) has a monopoly. This company thinks they have a better system. Have to go through FDA procedures. If it works they’ll be able to share the giant market. Have a long road ahead of them. (Peter Hodson)

(Market Call Minute.)Reversing of bad cholesterol in clinical studies. A little early for him but has potential. Speculative. (Peter Hodson)