Most Anticipated Earnings: USA-T, LABS-T and more Canadian Companies Reporting Earnings this Week (Mar 24-28)

Trevor Rose’s Insights - Trevor’s most-liked answers from 5i Research We think MAG fits the bill. Its Mexican (safe) mine only recently went into production, and 2024 will be the first year of material revenue/cash flow for the company. The stock is acting well this year as it gets re-rated as a producer. It is…

People are concerned about the deleterious elements in the ore. Thinks the grade is so high that people will be willing to accept the smelter penalty. When people realize they can still make money, either share price goes up or it gets taken out.Superb relationship with host First Nations -- both royalty holders and shareholders.…

It's one of his anchor stocks. It's been lagging in price, but so have many silver companies. He still likes this among Mexican-based silver producers. It has just started a gold mine in the US which helps diversify away from silver. They keep adding mines and value, and will have leverage to the prices of…

Uranium Stocks. Of the Juniors he likes this one and it has the most potential and the least risk in terms of balance sheet. Bringing a couple of assets into commercial production. He would not jump in after today’s run but otherwise it looks good.

Will respond to copper prices if those prices move up. Tier 2 assets. Impressed with financial backing of the company. Not considering buying.

It has a great management team and the Yukon is a friendly place to develop. Infrastructure is the issue. Smaller mining operations can deal with this, but lack of power and transportation are challenging. Where copper prices are, this is still too levered -- you need copper prices to go higher.

It's time will likely come, but he has a hard time understanding the geology of the project. He doesn't own stocks where he doesn't understand the geology. He holds OR instead. 

Primary asset is an Alaskan property Livengood. Have been in the process over the last 3-4 years of proving it reserves. Interesting way to play gold because of volatility of a junior so be careful what you allocate to it. High potential development and pretty well developed infrastructure setting. Obvious takeover target if reserves prove…

Trevor Rose’s Insights - Trevor’s most-liked answers from 5i Research CNC is a small ($205M market cap) nickel miner. Nickel as a commodity is expected to be in a shortage over the mid to long-term with minimal supply growth outside of China and Indonesia. It is pre-revenue and issues shares to fund its operations. It…

They have two plays. It is pressured because of debt load. Production came down in the third quarter and should now increase. They should knock debt down with the sale of two non-core assets next year. It needs a catalyst before the market will revisit this story.

One of the few companies in the world that's cashflow positive in the vanadium business. Worldwide growth in specialty steels. He keeps holding because he loves out-of-favour commodities.

He owns this. It went through a major acquisition last year to consolidate their holdings in Northern BC. This mine will become productive in the next couple of years. The issues they have had are being resolved. He will continue to hold it.

(A Top Pick Mar 03/20, Down 28%) It operates in Quebec called Fenelon. The resource is there and they are very well-finance (Eric Sprott owns over 20%). Also, Kirkland Lake's CEO sits on the board and owns shares. Perhaps, the market is impatient, which has pressured shares, but WM is careful in moving forward.

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…

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”.

(Market Call Minute.) In a big gold system and he likes it.

Owns shares in company.Be patient in terms of returns.Present gold prices will not generate returns for shareholders. Higher gold prices important for shareholders to see return on capital. Good proxy for higher gold prices. 

They have had several management issues, including an interview with the CEO by the Globe that the company disavowed. The Ontario windstorm hurt their crop. These issues have depressed their stock price and may make the company a takeover target. The company does business in Europe as well as Canada. Marchand recommends waiting to see…

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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.

Chart shows a up pattern on the beginning of the year. Even though it had a nasty day today, the uptrend has not been violated. Has to get through about the $1.25 area before it can be considered a breakout. If you know the fundamentals and this matches them, it could be okay. (See Top…

(Market Call Minute.) Great execution with a $500 million market cap. Thinks it is ahead of itself. It is expensive.

Likes management. Note that there is nothing immediately happening. It’s not something to chase, but just accumulate over the summer. Turkey is not bad at all, it is a democratic system. Their mining code is working. He thinks they have permitted 10 mines in 10 years. This company is technically very, very competent. Sitting on…

Trevor Rose’s Insights - Trevor’s most-liked answers from 5i Research Recent news has been generally positive, with the commencement of a draft guideline supporting domestic nickel preference and strong enforcement mechanisms implementing IRA Foreign Entity of Concern requirements. It also struck a $115M deal for a nickel ore processing plant that will supply Tesla. Its…

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

Hoping to bring a second silver mine into production in Morocco, which has boosted investor-friendly fiscal regimes. Spectacular recent drilling results, not that the market has cared. He needs more results and more consistency to model the deposit. No country is without political risk, and he compares the reward to the (political) risk.

Long-running saga. Barring a significant change in federal and state government, doesn't see it happening, as environmental sensitivity is too high. You could sit on the vine and wait, or move on to a currently viable project.

A palladium-copper developer in northwestern Ontario. Rates of return are just below 30%. This will be hard to finance, though they scored funding from Export Development Canada. Can they get equity financing. That's the key question.

(A Top Pick Oct 28/24, Down 15%) It's rangebound. He bought it closer to the bottom, but hasn't risen as hoped. He'd trade at $6. He'll give it the benefit of the doubt, unless it falls beneath support. He's collecting a nice 8% dividend, though.

A cash cow, owning many TV channels and make movies. But shares are down, because it's a small cap and there's pressure on TV ad revenues. Still cheap. Quebecor owns 70% and could easily privatize it around $5-6, which he thinks will happen one day. Generates a lot of cash. For patient investors only.

Brewery. Tough for them to compete. Have a strong following in Alberta but his concern would be if their product has a strong enough niche to compete with the big companies.

Billy Kawasaki’s Insights - Billy’s most-liked answers from 5i Research. Has had a good start to the year. UP 19%. Expensive at 17x sales. THey made an acquisition that brought in $24M in revenues. Insiders own 31%. Moving into Europe. Remains speculative but getting interesting. Unlock Premium - Try 5i Free

(A Top Pick Jan 23/25, Down 12.7%)Stockchase Research Editor: Michael O’Reilly Our PAST TOP PICK with DOO has triggered its stop at $67.  To remain disciplined, we recommend covering the position at this time.

(A Top Pick Mar 26/18, Up 97%) They smartly bought some spectrum rights a few years ago, and now they're on the fringe of the 5G spectrum. So the value of their spectrum rights will be realized later this year. He took profits, and would be lightening up on this now as the stock does…

(A Top Pick Dec 14/23, Down 21.5%)Stockchase Research Editor: Michael O'Reilly Our PAST TOP PICK with TSAT has triggered its stop at $11.  To remain disciplined, we recommend covering the position at this time.  

Royalty models do better in bear markets. Costs are nil, so it's a stable business. Well run. Mr. Lube over time has taken market share. Stock's pretty illiquid, make sure it's covering the dividend. Hold or buy. Yield around 8%.

Trevor Rose’s Insights - Trevor’s most-liked answers from 5i Research FC is a relatively small mortgage lender. The stock is cheap at 10X earnings, and it mostly trades for its 9.4% yield. The dividend has not been raised for at least 10 years, but it does pay fairly regular small special dividends annually. There has…

They own U.S. hotels, a high-risk, high-reward stock. He's bearish on hotels, which is struggling with labour costs and keeping labour. HOT.UN has done a good job restoring vacancies, in the low-70s, though their peak was in the 80s. However, they've made up the balance on their hotel rates. Their balance sheet is slightly higher,…

(A Top Pick July 26/13. Up 18.07%.) A niche lender to small businesses. Very, very well run. They raise their dividend almost every year. Insiders own piles of stock. Very conservative. They are finding new ways to grow the bottom line. Have lots of capital, which is all deployed. Expects earnings will continue to move…

Difficult to own. Commercial real estate in Europe. Strategy of owning secondary assets was not the best. Cut distribution. Unless you have a high risk tolerance, don't add to your portfolio.

To manage risk, he sets up his portfolios starting with the biggest, which is FNV. More diversified than OR. He also owns OSK proper.

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.

Very well-run, but is so small that few buy and sell this. Great managers, but no liquidity. He sold his holdings.

Trevor Rose’s Insights - Trevor’s most-liked answers from 5i Research QEC is a very small oil and gas company with market cap at $94.27M. QEC had a flat year in terms of price in 2023 but did display some volatility. Both revenues and net income margins had negative growth in Q3. The balance sheet looks…

Frustrating the last year. In 2023, they were spinning off assets and paying down debt, which was good, but the new CEO has since been building new projects, triggering a sell-off. Meanwhile, they can't sell their renewable assets because US companies are offloading their carbon credits here in Canada. Tons of uncertainty and debt with…

Flagship renewable diesel project coming online next year.

Trevor Rose’s Insights - Trevor’s most-liked answers from 5i Research WED is a Canadian investment company, specializing in providing long-term capital to businesses operating primarily within the global financial services industry. WED has performed strongly this year, up 44.87% year-to-date and 50.6% over 52-weeks. Q3 results were solid with net profit at $23M, growing from…

(A Top Pick Oct 26/21, Up 15%) Stock fell soon after recommending, he sold, now it's recovered. Good company. Supply issues and inflationary pressures have normalized. Pretty good value at 11-11.5x PE. Watches it; could potentially add on a pullback.

We need potash, and demand will spike. Reticent to chase a small name like this. Look to a large cap. He likes NTR, which is reasonably priced, all things considered.

Comparable to Medmen Enterprises. American-based sales of legal cannabis, with operations in six states, including the 48 million people of Massachusetts, Florida and New York. They have one of the 10 licenses in New York and one of the 13 in Florida. This is one of her largest holdings. Â There have been several catalysts…

It is pure extraction. There are probably 3 or 4 of them. They are a leader. There are not too many companies here that are profitable and these guys are one of them. They do toll extracting for clients as well as getting their own Cannabis and extracting from them. They make a great margin.

Figured out a way to use an agent to produce CBD in a lab, which will make it cheaper and more consistent. Still rolling it out into the commercial space. The future.

A large position for him. They bring tech to the healthcare industry, like software. They had a previous business that they grew, then sold to private equity and finished their non-competes, and now they're doing that again with a new product that is starting to produce cash. Margins have risen to 24%, and they target…

There is nothing more powerful than a base breakout, and this had one in February of this year. This one is on a trend line right now and there is absolutely nothing wrong with the chart.

COVID-19 heart issues? The company makes a synthetic CBD. Their original work saw CBD helped to reduce inflammation of the heart. It is expected they will start to re-purpose their product for COVID patients. This would help accelerate testing by about 2 years. This could lead to product being sold in Canada very quickly. A…

It trades only 39,000 shares per day, so it isn't very liquid. (The beta is 0.23.) It still has negative earnings. POET reported on April 26 a fourth-quarter net loss of $3.7 million, or $0.10 per share, vs. a loss of $5 million, or $0.17 per share, a year ago. POET didn't supply sales for…