Most Anticipated Earnings: FRU-T, TKO-T and more Canadian Companies Reporting Earnings this Week (Nov 10-14)

Opinion about ONEX-T: Stock's gone nowhere for a fair bit of time. Latest move from 2023 is quite positive, and broke out above $100. With volatility in the markets, these guys pick up great assets and make something of them. Why not capitalize on their expertise? Global, gives you private equity exposure to companies you…

Opinion about FRU-T: (A Top Pick Sep 13/24, Up 19%) One of the largest weights in his income fund. Today yields 7.3%. XOM is its largest client in the Permian. Roughly 35 years of drilling inventory between Canada and the US. Canadian production stagnating, increased growth in US. As both oil and nat gas prices…

Opinion about FIH.U-T: One of his highest-conviction investment ideas. Trades at a discount to NAV. A stock to buy for the next decade. India is the largest democracy on the planet, very young demographic, fast-growing economy. Lots of pro-growth and pro-business reforms happening. Portfolio of $3.5B worth of different investments, both public and private. Crown jewel…

Opinion about IIP.UN-T: Owns shares in business. Current share price a very good time to buy. Would recommend being patient, and holding for the long term. 

Opinion about ECN-T: Trevor Rose’s Insights - Trevor’s most-liked answers from 5i Research ECN is, at least, up 58% in the past year (down 16% YTD). Considering its economic exposure and small size, its decline is not really out of line with others. That being said, it is hard to be too bullish here. Consumers…

Opinion about BPF.UN-T: Trevor Rose’s Insights - Trevor’s most-liked answers from 5i Research BPF.UN is a small company, and may not be a 'blue chip' large company such as FTS. However, it just raised its distribution, is cheap, pays a 6.57% yield and has good management. We would be OK owning it for a small…

Opinion about FF-T: (Market Call Minute.) Great execution with a $500 million market cap. Thinks it is ahead of itself. It is expensive.

Opinion about E-T: Very high margins, using nat gas instead of diesel for generators in its power division. Power division is growing quickly. Chart is beautiful, more room to run. Anticipates a $4-5 stock.

Opinion about INO.UN-T: Quirky vehicle that needs to find a better home. Assets in France. Too small to be in the public market. Would be better off privatized, which should happen. Seeing nice recovery in occupancy and valuations in European office.

Opinion about ACD-T: (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…

Opinion about IVQ.U-T: High risk, high return. Thinks highly of management. Good job growing portfolio. Exclusively in US, but listed in Canada. Healthcare sector. Not obvious what the catalyst will be for the stock. More security owning the debentures. Can be binary as to whether cashflows will support current distribution. Not for the risk-averse.

Opinion about CAE-T: Broke resistance from 2021, and that's great to see. Breakouts are great -- they mean that all the sellers around the breakout point are gone. Now stock can move on to newer highs, which it's doing. Good-looking chart.

Opinion about NWH.UN-T: Lost their way from original Canadian investment model when it went overseas. For a mid-cap stock to be successful, you have to do one thing and do it well. Wouldn't touch it until it exits foreign operations entirely.

Opinion about DRM-T: Likes real estate in general. In particular, likes those that are building their businesses; not the ones that are just collecting rents, paying dividends, and going sideways. CEO is great and is investing in the company. Turning around. Sector will benefit from lower interest rates. Looked at this one, likes it, but not…

Opinion about PRV.UN-T: Likes it. Wouldn't go smaller, as this one's already quite small. Has a nice industrial component, focused more on Eastern Canada. That market's been very stable. Recent transaction in Winnipeg, and he likes that market. Since Covid, people are working online more; so "secondary" cities such as Halifax, Winnipeg, and Saskatoon are…

Opinion about MFC-T: With a global lens, you don't need to be invested in lifecos. Within the Canadian context, life insurance is a common way to play. This name is attractive, capital structure is good, far more de-risked than 10-15 years ago.

Opinion about POW-T: Trevor Rose’s Insights - Trevor’s most-liked answers from 5i Research It is hard to ignore the strong momentum shares of POW have had. Trading at 11X forward earnings with results that continue to look strong, we would be fine with owning the name. Even if it starts to level out from here,…

Opinion about SRU.UN-T: Dividend close to 7%. Very defensive, and so distribution is high. Flipside of being defensive and with high occupancy rates is that growth of 1-1.5% is below inflation. Higher leverage means income doesn't translate to earnings potential. Better opportunities, especially in necessity-based retail.

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

Opinion about DIV-T: 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%.

Opinion about AI-T: (A Top Pick Mar 11/24, Up 14%) More conservative than TF, and he owns both. Core position. Nice dividend. Not trying to shoot the lights out, just want to collect the income and reinvest.

Opinion about KBL-T: Laundry, primarily for hospitals (a guaranteed business, and guaranteed to increase with demographics). Mainly Canada. Made a major UK acquisition (more in hospitality, economically cyclical) earlier in the year, and the equity issue pushed down price of stock. Small, sleepy company. Doesn't usually do a lot of acquisitions or equity issues. Last quarter…

Opinion about MHC.U-T: Mobile homes, a great asset class. Lots of pricing power.

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 HR.UN-T: Hostile takeover. Diversified REIT that doesn't work very well anymore, as it tends to trade at the multiple of the least-liked sector it owns, and it has a lot of office. If you own, hold on, as today's press release indicated interest from multiple parties (and so a higher bid may come…

Opinion about NXR.UN-T: Industrial properties in Western Canada, London, and Montreal. Not quite big enough for the index, but it's close. Some really good assets. If they can just get over the hump to the $1-1.5B market cap, then this could become an in-favour REIT with institutions. Thinks they can do it if they can…

Opinion about FSZ-T: It has been weaker in recent months with some challenges with institutional profits. Fees are tied to the asset management business and there has been pressure on fees in the industry. It will have to grow its mandates and investments longer term. Pays a nice dividend.

Opinion about GO.U-T: Very niche, Upper East Side of Manhattan. Very high end, luxury apartment buildings. Just went public on the TSX, even though it owns only US assets (we've seen this before). Digestion phase, as it went public at $15 but now trades around $11.85. Just to close that gap is 27% upside. Best multi-family…

Opinion about APR.UN-T: Billy Kawasaki’s Insights - Billy’s most-liked answers from 5i Research. They invest in income-producing automotive dealerships. If there is an increase in demand for cars, the dealerships will pay rent and more dealerships will open up. DEmand for cars has only slightly increased, and it is more a supply constraint right now.…

Opinion about PLZ.UN-T: Most assets are in Quebec and the Maritimes. Strip plazas in smaller markets. Historically stable, not a lot of growth. Difficult to raise rents in these small markets, but high construction costs have prevented tenants from moving. So cashflow is growing faster than it has in a long time. Low-risk optionality to…

Opinion about AX.UN-T: Diversified across type and geography. Recent announcement would see it effectively sold at 44% discount to integral value. Distribution moving from monthly to quarterly, and much lower. Definitely avoid.

Opinion about SRV.UN-T: (A Top Pick Dec 14/23, Down 11%)Stockchase Research Editor: Michael O’Reilly Our PAST TOP PICK with SRV.UN has triggered its stop at $14.50.  To remain disciplined, we recommend covering the position at this time.  

Opinion about KNT-T: Stockchase Research Editor: Michael O'Reilly As the Papua New Guinea gold producer inaugurates a major plant processing expansion, we reiterate KNT as a TOP PICK.  It trades at 14x earnings and supports an impressive 44% ROE.  We recommend trailing up the stop (from $13.50) to $16.00, looking to achieve $23.00 -- upside…

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

Opinion about FOM-T: Materials are currently being revalued. Commodity prices improving. The multiple investors are prepared to pay is expanding. The value of what's in the ground is expanding. Owns a bit of this name. Likes the friendly jurisdiction. Company is big enough for almost any institutional investor to purchase. Not the leader in the group,…

Opinion about ODV-X: 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. 

Opinion about EMX-X: Uses geographic knowledge and entrepreneurial acumen to stake large-scale exploration projects around the world, and then farms them out to other people and gets the carried interest (which eventually turns into a royalty). From time to time, it buys operating royalties. Selling at a discount. Absolutely no need to issue new shares because…

Opinion about WRN-T: 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.

Opinion about FDY-T: Looks like an interesting exploration/development company.Will watch company to see how results pan out.Financial certainty a concern.Might buy shares down the road.

Opinion about ITH-T: 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…

Opinion about AMX-X: $45 million market cap. It has a gold project in western Quebec and hitting some high-grade at less than a meter, 600+grams/tonne. Their issue is continuity: will this grade continue? Now, it is an interesting play. Brent Cook: It's a narrow, high-grade vein but could be diluted which is a concern.

Opinion about LGD-T: 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…

Opinion about LGO-T: 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.

Opinion about WM-T: (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…

Opinion about AOT-X: 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.

Opinion about DIAM-T: They have option agreements with major partner Rio Tinto, but these have been under dispute for the past year. It's worth tens of millions of dollars. The stock has fallen because of this battle; investors have lost patience. He owned this before the legal battle and didn't want to wait for it…

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

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Opinion about AYA-T: Whole sector's been quite good, though chart shows something happened late September to this name. You always look at the producers, not the commodity itself, to tell you where gold's going. If you're up significantly, consider taking some off the table.

Opinion about ALS-T: She likes the royalty models which don't have the risks of operating mines. Its copper, potash, etc. covers the structural growth sectors. She sees 24% upside from here. It has steady cash flow, low net debt and a weaker U..S. dollar is good for it. It scores 9 out of 10 for…

Opinion about MPVD-T: 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”.

Opinion about PAAS-T: Is bullish metals. Is one of the largest silver producers, based around the world, with strong production. Is increasing output in Latin America. A little sensitive to commodity price swings. 

Opinion about HBM-T: He bought it a while ago when he saw a copper shortage. Plus, HBM has a gold kicker. They have a leading property in Arizona that could be mined for copper. But it's a cyclical stock that can move up or down big. He sees the copper story still unfolding. He has…

Opinion about USA-T: Junior speculative. Not profitable. At the price for gold and silver today, if a company's not profitable you have to ask why. He doesn't play penny stocks, and certainly not in the junior mining area. A very challenging asset class; he learned his lesson 35 years ago.

Opinion about MARI-T: 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…

Opinion about ORE-X: In Western Africa, this miner is looking for funding. It is not the exciting part of the cycle as they are in the de-risking mode. Investors are looking for projects that double resources. Institutional investors are not yet stepping in the space.

Opinion about NOA-T: A cheap play in the space. See his Top Picks.

Opinion about LAM-T: 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…

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 DSV-T: Owns it as a management play. Good silver development project albeit in Mexico, where there are permitting difficulties. Recent pivot to buying one of the Tier 2 Newmont assets changes the picture of the company; gives management a chance to do what they do well, developing mines in Abitibi district. They can use…

Opinion about SKE-T: It is re-starting its Eskay Creek Gold-Silver Project. The cost of production and gold reserves are phenomenal so there is a quick payback on money spent and it can continue to expand. There is immediate and long term upside. Its price will move up and down with the price of the commodity.

Opinion about GEO-T: Trevor Rose’s Insights - Trevor’s most-liked answers from 5i Research Geodrill offers drilling and exploration services with 19% growth expected next year but the growth rate does tend to be volatile year to year. Shares are cheap at 8X forward earnings but the industry can be cyclical so a lower valuation is…

Opinion about LIO-X: Fiji is an interesting place. They have raised $85 Million last year when it was tough. If they get this thing going it will build up confidence. They are putting a relatively small scale gold mine into production while doing exploration. They should eventually get bought out.

Opinion about LUC-T: The company has suspended its dividend. They operate diamond mines in South Africa. They are looking into underground, from open pit. The cost is more expensive than thought. The price of diamonds has been reduced, though retail prices won’t change.

Opinion about GFG-X: Some of the people behind Gold Standard Ventures, are behind this one as well. If you follow success in this industry, you will do relatively well. They raised a lot of money for Gold Standard Ventures and it has done well. It is probably in the 8th-9th inning before it gets bought…

Opinion about MAU-X: Not so sure it's still undervalued. Believes in management's vision to use this company as a West African consolidator. 

Opinion about NEO-T: Trevor Rose’s Insights - Trevor’s most-liked answers from 5i Research EPS of 8c beat estimates of 6.8c; revenue of $121.6M beat estimates of $120.3M. EBITDA of $17M beat estimates by 19%. Revenue slightly decreased year over year but EPS soared from 1c last year. Production is ramping in Europe and the chemicals…

Opinion about LNR-T: A core holding. It reports tomorrow. They can make $10-12 per share. They have great technology. They make every Ford transmission. As for Trump tariffs: it takes 5 years to build a car plant + 5 years to train workers. A solid business. 

Opinion about PBH-T: Trevor Rose’s Insights - Trevor’s most-liked answers from 5i Research PBH does not have the best record; it has missed seven of the past 12 quarters. But it did 'beat' in the most recent three quarters. The stock has finally caught a bid, and it is managing tariffs and other issues well.…

Opinion about WTE-T: Lots of uncertainty in the space with proposed rail merger in US. May be hurt if volumes start to be diverted to other ports. Guesses it will probably be fine, but wait and see. Stock's been bouncing in a range. Decent dividend.

Opinion about LCFS-T: Flagship renewable diesel project coming online next year.

Opinion about IAN-CSE: 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…

Opinion about TTNM-T: He does not own it because he has a lot of TFII-T. TTR-T struggled with balance sheet issues which seem to have been cleared up. It is a wait-and-see for him.

Opinion about CCL.B-T: Have a good track record of making acquisitions to enter new markets. The balance sheet is clean and are buying back shares. As they buy more companies, shares will rise. (Analysts’ price target is $92.55)

Opinion about FTT-T: (A Top Pick Apr 12/24, Up 22%) Correlated with copper, and it set up nicely with where we were in the business cycle. Big breakout over the last 2 months. Good-looking chart with higher highs and lows. Sees further upside into August.

Opinion about CHE.UN-T: Trevor Rose’s Insights - Trevor’s most-liked answers from 5i Research Chemtrade is looking interesting with good momentum and growing off of a low multiple at 9X forward earnings alongside a 5% yield. The company reported a solid earnings report recently and EPS saw a big beat at $0.44 vs $0.30 expected. They…

Opinion about MAL-T: Stockchase Research Editor: Michael O'Reilly We reiterate MAL, the Canadian based aerospace company with global market reach as a TOP PICK.  Just over one-third of revenue is derived from defense spending.  They are providing key engine components for South Korea and are involved with the Gripen fighter that Canadian is considering for…

Opinion about MRE-T: Auto stocks are really struggling, both Canada and US, and they're right at the epicentre of this whole tariff battle. Beware the value trap -- something's gone down, looks cheap, but hasn't started going up yet. Chart doesn't look as though it's bottomed out yet.Though cheap, it could still go lower. Whole…

Opinion about BDT-T: One issue is that every once in a while they take a fixed-price contract and lose $$ on it. A risk that keeps the valuation low. Sector should have some growth with planned infrastructure spending. Needs a bit more consistency in execution and meeting estimates.It's just OK. He prefers the larger companies…

Opinion about GRA-T: Billy Kawasaki’s Insights - Billy’s most-liked answers from 5i Research. Momentum is solid. The fundamentals are improving along with profitability. Debt relative to cash is also improving. Market cap has reached $520M with insiders owning 10%. Not profitable yet although revenue is ramping up. Expensive but revenue growth looks good. Unlock Premium - Try 5i…

Browse a daily summary of experts opinions on stocks and stock investment information.

Opinion about NPK-T: Billy Kawasaki’s Insights - Billy’s most-liked answers from 5i Research. There is risk with the scale of production, which is quite ambitious. Some risks are operational and the other is country risk, as it is in Brazil. Likes the overall market position. Should watch position size as it is a more risky…

Opinion about QST-X: Trevor Rose’s Insights - Trevor’s most-liked answers from 5i Research At only $10M market cap, simply the cost of being public is a big drag to the company. It has some cash, but cash flow is weak, and it would take a very strong turnaround to get investors interested in such a…

Opinion about BLDP-T: Renewables at lower cost rates don't work; you need the subsidies. But what does work are large-scale hydrogren projected. Not sure about small-scale like Ballard.

Opinion about TWM-T: 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…

Opinion about TSL-T: (A Top Pick May 08/18, Down 36%) They were doing things to turn things around. They made net income last year and then Trump tariffs killed them. But they said they are going to turn around the tariffs. He is going to look and see if it is time to buy back…

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 AFN-T: Frustrating, he sold. Numbers good, but continues to have lots of problems in its farm business. Commercial side's been pretty strong. Some of its geographies have been weak. Guided down. Not worth it, look elsewhere.

Opinion about DYA-X: Interesting technology, but not investible right now. A gadget that installs on commercial vehicles to reduce emissions and increase fuel efficiency. "A science project" for 17 years of R&D. Losing money, negligible revenue, diluting shares, burning cash. He prefers more established companies. One to watch down the road.

Opinion about CFF-T: Forestry space He owns no names. The stocks are okay but face trade disputes and an economic slowdown that will hit housing stocks. The stocks have been beaten up.

Opinion about KEL-T: Has deep assets, which they won't sell for 9-12 months, as they add others. He can't own every midcap, though this is good.

Opinion about CFW-T: Oilfield services firm that has big fracturing technology presence. Horizontal drilling and shale boom not as strong. Very dependent on energy prices. Lots of assets that must be carried on the books. Not investing at this time. 

Opinion about CNE-T: A Colombian natural gas producer which enjoys a favourable U.S. price of US$3.60. Production will rise as more customers and pipeline capacity are found. There's a shortage of natural gas in the country. It pays a nice dividend of 5.6%. He has a $5 target. Buy below $3.40. (Analysts’ price target is…

Opinion about MEG-T: MEG & CVE Cleaned up refining operations. MEG assets are a great fit. Great levered play on oil, but there are better such plays.Done deal now, so MEG shareholders essentially own CVE. So the question becomes do you want to own CVE? He'd rather own a name with more natural gas exposure,…

Opinion about BNE-T: Their debt has always been an issue. Trading at in-line levels for their multiple. Does not check his boxes in his fund.

Opinion about NVA-T: Although he doesn't own it personally he likes it. The last quarter was good with decent production and a reduction in Capex. It is basically in a Western sedimentary basin.

Opinion about BIR-T: He lkes the size of the company but it has leverage issues. Could be a beneficiary of consolidation in the U.S. He wants to see long term past success of management. 

Opinion about ZDC-X: (A Top Pick Jul 09/25, Up 40%) (Note the short timeframe.)  Continues to expand in US, building a production facility down there. Production and geographic footprint (to east and west US coasts) are expanding.

Opinion about ORC.B-X: Trevor Rose’s Insights - Trevor’s most-liked answers from 5i Research The stock is VERY cheap and management has been in the business a long time, with some good successes at prior companies. However, the company is quite small ($65M) and its operations have more risk than Canadian producers, which are also very…

Opinion about QEC-T: 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…

Opinion about PEY-T: Good chart, nothing negative to say. Solid upward trend developing. Natural gas does well this time of year. Seeing more demand for nat gas. Nuclear's great but we need to get there, and natural gas is the way.

Opinion about CEU-T: (A Top Pick Nov 05/24, Up 19%) Activity has stabilized, and company's been able to pass through pricing and that supports healthy margins. Fundamentals: 8/10. Sees potential upside of 20%.

Opinion about TOT-T: Well-run company. Always trades at a bit of a discount to the sector because of the nature of the business. Not a bad one to get into.

Opinion about FEC-T: (A Top Pick Jun 15/23, Down 16.7%)Michael O’Reilly Our PAST TOP PICK with FEC has triggered its stop at $10.  To remain disciplined, we recommend covering the position at this time. This will result in a net investment loss of 18%, when combined with previous recommendations. 

Opinion about TXP-T: Trevor Rose’s Insights - Trevor’s most-liked answers from 5i Research Q1 production was 7,015 b/d (80% gas), up 80% from the prior year period. Production fell 18% largely due to natural depletion. Cash flow was $6.1M vs $10.5M on the production decline but also due to lower prices. Debt fell, but is…

Opinion about KEY-T: Natural gas and nat gas liquids. Huge supply of gas, so price has been depressed. Likes nat gas as a transition energy, and likes the mid-streamers like this one. Transportation, storage, blending, etc. Had gotten offside in marketing, but they have a handle on that now. He'd buy on this dip. Big…

Opinion about CUP.U-T: Fortis owns 60%. Challenge is that hurricane comes through every once in a while. Good system. Rates of return are higher than you can get in Canada. He owns Fortis

Opinion about GRN-T: Likes the sector, lots of runway. Renewable natural gas. Governments are increasing demand. On his radar. Will look at again when risk appetite in the market returns.

Opinion about NPI-T: (A Top Pick Nov 28/24, Up 28%) His dividend choice of the 3 Past Top Picks. At that time, had operational issues and no permanent senior leadership. Global assets amidst a positive outlook for power demand. Now has a great new CEO, delivering on growth projects. Will reevaluate at investor day in…

Opinion about MXG-T: Trevor Rose’s Insights - Trevor’s most-liked answers from 5i Research MXG reported sales of $27.2M, a 6.1% increase year-over-year driven by higher realized power prices, and partially offset by lower generation volumes. Net profits were largely flat year-over-year, and some of this was due to lower net realized gains on commodity swaps.…

Opinion about H-T: Likes the regulated utilities. 

Opinion about DND-T: Cut losses? No, keep holding. Superstar that collapsed. Latent value that current management is not accessing. If you're patient, someone will find a way to surface some value. Intrinsic value higher than current share price. 

Opinion about CMG-T: Spiked up on the close last week. Everything looks really good about this for the long term, everything says you should own some. RSI against S&P since 2022 has been really good, up and to the right. Buy some today with a partial position, then add a second component on a further breakout,…

Opinion about KSI-X: Trevor Rose’s Insights - Trevor’s most-liked answers from 5i Research We like KSI, and we even covered the name in one of our latest podcast episodes (link to our discussion on KSI can be found here). KSI is a $630M healthcare SaaS company that provides solutions for data and document management. Good sales…

Opinion about ALYA-T: Just went public in June. Plays into same space as CGI. Small minnow in big pond, but very smart. Built business on acquisitions. Interesting, because they're picking out smaller and mid-size, and they have a long runway.

Opinion about DBO-T: A disappointment. Pandemic has been the nail in the coffin for movie theatres and DBO's motion systems. Simulation and industrial segments have been profitable. Treading water right now. Long road ahead. Wait and see before stepping in.

Opinion about TGO-T: (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…

Opinion about BR-T: 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.

Opinion about SPN-X: This does mobile marketing for big brands, where you use your phone to run loyalty programs and purchase validations. Down 53% in the last year, because it got caught up in the downdraft in the TSX Venture. It would be higher today, except that their financing was the worst kept secret on…

Opinion about Y-T: (A Top Pick Nov 22/18, Up 12%)Convertible 8% 2022 bonds He owned the Yellow senior bonds, but then moved into these convertibles. Most of their revenues are in digital, but that has struggled. New management has cut costs a lot until free cash flow now stands around $100 million this year. Their…

Opinion about RAY.A-T: Is fairly illiquid, but profitable and pays a 6.6% dividend. Price targets are high, so there's a runway ahead. But two-thirds of the business is concentrated in Canada, and a big risk is if song royalties rise. It's profitable though. He's watching it.

Opinion about DCM-T: Small player in packaging, did large acquisition last year. Growing quickly. Very cheap. If you need to own something in the space, look at this name.

Opinion about L-T: He's not into staples right now; missed the big run, as this name did very well. Caught up in the noise around tariffs, though its margins have widened a bit (may have "priced in" inflation, but it actually might be the suppliers and distributors taking the hit). That might be working its…

Opinion about PBL-T: (A Top Pick Feb 19/25, Down 22%) (Note the short timeframe.)  Still likes it. No strong reason for it to be off as much as it is. Steady business, as governments always need $$. Outlook is fantastic, long runway for growth in the iLottery space. Cheap. One of the dominant players globally.

Opinion about FOOD-T: (A Top Pick Apr 28/21, Down 67.4%) Are building online grocery sales now. When he recommended it, he expected another leg up--and shares rose last summer on good numbers. But he sold this around $10 because he was concerned the company was no longer focusing on meal kits and was spending a…

Opinion about STN-T: Sector should have some growth with planned infrastructure spending. In the space, he prefers larger companies like this one in terms of safety, especially as we don't know which way the economy's going to go in the next couple of years. Large companies also have a global footprint, so US tariffs are…

Opinion about ACQ-T: (A Top Pick Sep 21/23, Down 7.6%)Stockchase Research Editor: Michael O'Reilly Our PAST TOP PICK with ACQ has triggered its stop at $23.  To remain disciplined, we recommend covering the position at this time.  This will result in a net investment gain of 16%, when combined with our previous recommendations.  

Opinion about CSW.A-T: Ace Beverage acquisition got him interested. Some really nice growth coming, but not all segments are growing. So it's not going to give him the consistent 10-15% growth rate of a great company. Last quarter showed 9%.

Opinion about CSW.B-T: He doesn’t know the seasonality on this, but the technicals show that it has been in an upward trend for quite a period of time. During the last little while, it has been in a trading range between around $19 and $22. It is not unusual for a lot of stocks in…

Opinion about VCM-T: It is a well run company. He got out of it. They paid out a lot of special dividends and the stock did well, but he got out because most of the catalysts are out of it.

Opinion about KPT-T: Trevor Rose’s Insights - Trevor’s most-liked answers from 5i Research KPT is a $101.6M company that pays a high yield of 7.1%. Its valuation is decent, but its balance sheet has been contracting for several years now. It's considered a consumer staples name, but we are not very impressed by the fundamentals…

Opinion about NLH-X: Doesn't know much about this. Shied away from it for now, because it doesn't trade much. Has the potential to be a bigger small-cap healthcare company, an area that he likes.

Opinion about EXE-T: Doesn't follow it closely. Does, however, follow CSH.UN.Very reasonably valued at 13x when you look at price to FFO. Similar market to CSH.UN, but EXE is a corporation and that makes it unique. (REITs have to pay out more, or there's a punitive tax.) Pays out roughly half of its FFO. Likes…

Opinion about ROMJ-X: Billy Kawasaki’s Insights. A cannabis cultivator out of BC that is a micro-cap. It trades on the TSX Venture Exchange. Current earnings per share is at -0.19. It started trading in September and has largely stayed flat since the IPO. The marijuana space continues to face pressure so it may be wise…

Opinion about BABY-X: Billy Kawasaki’s Insights - Billy’s most-liked answers from 5i Research. A plant-based baby nutrition company. Deal with Walmart has been positive development, giving them higher exposure. Trading at 15x sales, which is expensive considering the current revenu base of $1.8M. Has had a good quarter. Balance sheet looks good and sales should…

Opinion about SIA-T: (A Top Pick Apr 30/25, Up 14%) (Note the short timeframe.)  Likes it long term. Trades more cheaply than CSH.UN.

Opinion about RX-X: 3% conviction level for him. Founder run and owned. 70-80% of its business is from an iron supplement, that's a concern. Combogesic is a new product and not a huge part of its business. Trying hard to add lines of business.