Most Anticipated Earnings: IAG-T, BDT-T and more Canadian Companies Reporting Earnings this Week (Nov 04-08)

Opinion about SLF-T: Trevor Rose’s Insights - Trevor’s most-liked answers from 5i Research SLF reported an underlying EPS of CA$1.79, in line with expectations of CA$1.78. Underlying Return on Equity (ROE) declined slightly to 17.6% from 18.1% in the same quarter last year. The financial leverage ratio remains healthy and in line with historical averages.…

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 BTB.UN-T: Most exposure is in Quebec. Lots of office space exposure. But could see a business turnaround. Would recommend buying and holding. 

Opinion about MR.UN-T: Focused on commercial properties in Edmonton. Faced a lot of pressure as we all started working from home. It appears to be being taken private by the parent company. 

Opinion about IFC-T: Impressive management. The entire space is subject to the unpredictability of catastrophic losses. But this company has done great, able to manage all the risks. Post-pandemic inflationary environment helped (replacement costs went up, so premiums did too). Recent results were fine, but stock dropped. Could have just exhausted itself for now. May have…

Opinion about CIGI-T: (A Top Pick Nov 06/23, Up 63%) There's still upside. CIGI has benefited from rate cuts, since CIGI is in real estate. Peer CBRE announced strong results two weeks including double-digit revenue growth. There seems to be pent-up demand in the market. They use economic downturns not only to buy companies, but…

Opinion about IAG-T: (A Top Pick Nov 13/20, Up 33%) Has started buying back shares and paying dividends. Financials should do well as the yield curve steepens. Valuation is not as compelling as before. Middle of the pack. Has moved to US banks and non-financial banks in Canada.

Opinion about ELF-T: Stockchase Research Editor: Michael O'Reilly ELF offers investments and insurance and includes Empire Life.  It trades at 4x earnings, under book value, and supports a ROE of 14%.  Recently reported earnings demonstrated a 57% in net income and growing cash reserves.  We recommend setting a stop-loss at $12.00, looking to achieve $17.50…

Opinion about BEI.UN-T: One of the larger Canadian apartment REITs. Mostly in Alberta, where there's no rent control. So with population growth, it can raise rates faster. But if economic slowdown in Alberta, this name feels it faster. Pivot in Canadian immigration policy put the whole apartment sector under pressure.Well run. Alberta's economy is doing…

Opinion about DIR.UN-T: Value 9/10, fundamentals 8/10. Looks like strong momentum since April bottom. REITs have been hit; hopefully seeing a turnaround as rates come down. In NA and Europe. Below 50- and 200-day MAs.  (Analysts’ price target is $14.00)

Opinion about CRT.UN-T: Likes it technically, pushing higher. Series of higher highs and higher lows. Looks as though it wants to break out. If you think we're heading into a defensive environment (his view), then this will work like a bond. Boring, but gives your capital some protection and spits out dividends. Yield is 5.98%.…

Opinion about AD.UN-T: Good track record, meaningful insider ownership. Didn't like that it pays out most profit in distributions. Rather than retaining capital to grow, raises equity to do acquisitions. He likes companies being self-financed.

Opinion about ISC-T: (A Top Pick Feb 19/25, Up 20%) (Note the short timeframe.)  Steady business. Lots of FCF, nice dividend. Good run, but still cheap.

Opinion about FC-T: An alt-mortage lender, typically at 10% and mostly are construction loans on land bought by developers--much riskier. They maintain an 8% yield, so are a pure yield play. Whenever they need to grow, they issue more stock, so you don't get capital gains. 

Opinion about MFC-T: Stock's been flat and stuck at these levels for the last little while. There may have been a downgrade yesterday. Thinks it's undervalued. Great dividend yield, dividend should remain steady and increase. Steady growth company; sees ~8% going into the next few years. Price-to-book is 1.6x, fairly cheap relative to some peers.Wait…

Opinion about GWO-T: (A Top Pick Aug 14/24, Up 31%) Are totally different from MFC and SLF which have businesses in China and India. GWO instead has business in Europe where they can buy attractive companies. Is an income stock. Trades at only 11x PE, with strong growth. A core holding. Pays a dividend around…

Opinion about GRT.UN-T: Unique feature of large bays and international tenants, rather than smaller businesses. Europe, US, and Canada. Under extra pressure because of leases to MG; he sees no real risk there, as MG is very well run with low debt, actual exposure is ~3%. Industrial market has been punished unreasonably, good value for…

Opinion about CHP.UN-T: Most of the rent collected comes from Loblaw. Likes real estate and Loblaw, but has better ideas in real estate (AP.UN) and owns Loblaw outright. If you own it for the dividend, it's OK. Yield is 5.3%.

Opinion about CRR.UN-T: (A Top Pick Aug 06/24, Up 16%) Are exposed only 10% to the general economy. Meanwhile, real estate prices are falling, which leads to attractive acquisitions. And lower rates are a tailwind. Offers a safe, steady dividend with some growth.

Opinion about KMP.UN-T: Very well managed. Company size is in the top 5. Originally focused on the Maritimes, which has seen a lot of population inflows. Expanding into other markets in Ontario such as Kitchener-Waterloo. Likes that they're experienced developers, always improving. Energy-efficient, new construction. Not facing high-rent pressures of others.

Opinion about FRU-T: More defensive than other names in the space, as you're not taking on the capital-investment risk to develop resources.

Opinion about UNC-T: Making changes to be able to invest more in foreign stocks. Wait to see how they do.

Opinion about DHT.UN-T: Applied similar royalty approach from mining sector to pharmaceutical business. Allows for new development in pharmaceutical business. Capital light business. Second listing in the world of this nature. Very cheap valuation, trading ~1.3x book value. Excellent long term prospects. 

Opinion about ERE.UN-T: Doing the right things, but public market is not rewarding it. Selling assets piecemeal until the REIT is liquidated, now about 50%, and distributed income to investors. Hold on, still lots of value. Could buy comfortably here as it's trading below $2.50 per share, but assets arguably are worth $3.

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 DRR.UN-T: Focused on assets in US. Has never traded above its IPO price. Pursuing strategic alternatives; if you own it, see how those go.

Opinion about PAY-T: (A Top Pick Jan 15/24, Down 41%) Probably his worst pick ever on the show 🙁  Big disappointment. Lost biggest customer, which made up ~60% of revenue, and he'd underestimated the likelihood of that happening. Company sold at a good price to FISV.

Opinion about HOT.UN-T: 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…

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 IGM-T: Stockchase Research Editor: Michael O’Reilly With $144 billion in assets under management, we reiterate IGM as a TOP PICK.  Cash reserves are growing while shares are bought back.  It trades at 11x earnings, under 2x book and supports a respectable 12% ROE.  The robust dividend is backed by a payout ratio under…

Opinion about CAR.UN-T: Decent dividend. He actually has 3 REIT positions (including XRE and NWH.UN) because they're value plays right now, all pay dividends, and are a bit overlooked. His view is that markets may be in for more volatility, so you want stocks with lower beta. Buy here at the bottom of its range,…

Opinion about DFY-T: Focused on efficiencies and growth. Looking to buy Travelers Canada, which would make it the fourth largest in Canada and give them good scale. Trades at 2.4x book value. Time to take some profit.

Opinion about CIX-T: (A Top Pick Sep 11/24, Up 81%) Taken out at $32.

Opinion about GSY-T: The CEO left suddenly which un-nerved some investors. Last week's numbers were fantastic. It is moving into the next stage and sub-prime lending. Has kept loan losses at a reasonable level. It is adding an auto lending division which is very profitable. He sees growth in the next phase. You could trade…

Opinion about EIT.UN-T: It is a basket of common stocks including big U.S. companies. He is not sure about it but it is doing well for the caller. Income is the focus.

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 TSU-T: Has done very well since its spin-off years ago. Any insurer can generate earnings. If TSU revives their reserves down the road it will wipe out any earnings they've accumulated and any retained capital in that business. In insurance, Berkshire-Hathaway and Fairfax. Insurance stocks are more expensive, because they are counter-cyclical and…

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 CF-T: Management wants to buy it out but there are two conflicting groups of shareholders. The employee shareholders want the lowest price possible while the outsider shareholders want the highest price possible. This type of conflict is not good. Value it as a whole, not on the split-up of parts.

Opinion about GCG.A-T: (A Top Pick Jul 14/22, Up 43%) Sold off one division for lots of money. Significantly undervalued, worth $60. One of the big banks could come calling. Amazing management. Share buybacks. Huge, regular dividend increases.

Opinion about AX.UN-T: Diversified with office, retail, industrial in both Canada and US. Institutional investors tend not to like diversified REITs. Over their skis on the balance sheet, so forced to sell assets and a lot of the best ones. Has become more of an office REIT in challenged markets.When REITs come back into favour,…

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 HOM.UN-T: Performed well, but up against a lot of new construction in their markets. Difficult to raise rents in 2024. Trades at discount to NAV. If you like a stock levered to the US economy and US dollar, not a bad name. If you own it, hold. Earnings won't necessarily inflect materially this…

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 MRD-T: (A Top Pick Nov 23/23, Up 2.9%)Stockchase Research Editor: Michael O’Reilly Our PAST TOP PICK with MRD has triggered its stop at $12.  To remain disciplined, we recommend covering the position at this time.  This will result in a net investment loss 4%, when combined with our previous guidance.   

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 GDC-T: Prefers Melcor Developments (MRD-T). When there have been housing difficulty like there has been, it’s extremely difficult for stocks like these.

Opinion about OLY-T: (A Top Pick Mar 21/24, Down 3.9%)Stockchase Research Editor: Michael O'Reilly Our PAST TOP PICK with OLY has triggered its stop at $98.  To remain disciplined, we recommend covering the position at this time.  

Opinion about ONEX-T: (A Top Pick Dec 31/24, Down 4.4%)Stockchase Research Editor: Michael O’Reilly Our PAST TOP PICK with ONEX has triggered its stop at $108.  To remain disciplined, we recommend covering the position at this time.  When combined with our previous guidance, this will result in a net investment gain of 6%.

Opinion about BBU.UN-T: Private equity arm of Brookfield. Projects all across the world. Could do quite well going forward.

Opinion about MKP-T: Lending in real estate finance. Very interest-rate sensitive. If you think interest rates are going to rise, as in 2022, then it will underperform significantly. Will do better if rates fall. Thinks the BOC has a bit more to go on that, so there could be a bit more upside.But the stock's…

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 DC.A-T: It has a collection of assets in the real estate sector which could be interesting. The CEO owns a lot. Watch governance in this space. He looks at it every couple of years.

Opinion about TIH-T: Trevor Rose’s Insights - Trevor’s most-liked answers from 5i Research EPS of $1.52 beat estimates of $1.49; revenue of $1.37B beat estimates of $1.35B. EBITDA of $248M beat estimates by 13%. Sales rose 1.2% but operating income did fall year over year. Tariffs are causing some customer uncertainty, but investors seem to…

Opinion about CJT-T: The chart shows a downtrend, being a laggard, but lately is starting to catch up. You can nibble at here. If we're starting a new economic cycle now, it will be positive for CJT and the economy. Expect weakness in a pullback coming. Play the long game and start adding to this…

Opinion about ALC-T: It isn't in his data base. The host mentioned its yield is just under 5% and it has a market cap of 660 million.

Opinion about ECO-T: He is one of the largest shareholders in this. They now have 2 commercial mills up and running with their DuraBind products. They make the binding that goes into IKEA-like furniture. Not into IKEA yet, but there is a good chance they will be. IKEA has announced that they want all their…

Opinion about PPL-T: About 70% of the business is take-or-pay -- no volume risk or commodity price risk. Another 20% is on fee-for-service contracts, where there is volume risk but no commodity exposure. Rest has commodity exposure to nat gas and oil. Over 10 years, has been competitive with the TSX. Compounding total shareholder returns just…

Opinion about BDT-T: Trevor Rose’s Insights - Trevor’s most-liked answers from 5i Research EPS of $0.50 slightly missed estimates of $0.504 and sales of $850.77M missed estimates of $946.31M. The quarter was impacted by temporary project delays as its clients adapted to rapidly chaning market conditions. Its next quarter is expected to be impacted by…

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 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 MAL-T: Stockchase Research Editor: Michael O'Reilly This Canadian aerospace manufacturing company has formed broad agreements recently with India and Korea.  Recently reported earnings showed a 70% increase in quarterly income, allowing cash reserves to grow while debt was retired and shares bought back.  It trades at 24x earnings and 1.2x book.  Its dividend…

Opinion about WJX-T: Medium-quality, in the competitive industrial space. Not a long-term compounder. Exposed to all kinds of risks including tariffs. Capital intensive; real FCF not as high as it appears. 

Opinion about DE-X: He was in on the IPO a few years ago. Wood-burning stoves is a large business for them, plus agriculture and some industrial. They acquire and integrate small businesses in order to lead the market. It pays a high dividend. During Covid, business in some parts spiked, but after Covid, their YOY…

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 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 NTR-T: Lots of geopolitical things happening. When stock shot up from Russian invasion, sold some but still retains a 1/2-2/3 position. Likes it long term. BHP is bringing on Jansen, but it's behind (and second phase may be mothballed). Good diversifier. Nice yield.For new clients, buying a half position. Ideally, want to buy…

Opinion about WSP-T: His choice in the space. About 23% compounded annual shareholder return over last decade. Bigger than peers, more global, in better verticals. Into water and environmental remediation -- things with faster growth curve. Serial acquirer.

Opinion about GFL-T: (A Top Pick Sep 11/24, Up 23%) Wonderful business run by really good people. Recurring cashflows. Trades at lower multiple than major competitors and growing faster. Lots of chances to improve operations.

Opinion about SJ-T: Railroad ties are a steady business. The correction into last April was a great buying opportunity. The chart broke out in early 2023 and has been an uptrend. Likes the chart a lot. (Analysts’ price target is $84.50)

Opinion about PBH-T: His firm likes to hold stocks forever, or at least for 5 years. Really likes management -- focused on sustainably growing dividend, so doesn't take on too much risk all at once. Stock popped on recent earnings. 

Opinion about MX-T: 8/10 on value. EPS down 32% YOY, revenue forecast to be down 5%. Moderate buy on the street, with significant upside target of 38%. Well below 50-day MA and below 200-day MA. Wait for a solid turnaround to see conviction that it's trending upward. Decent dividend yield.Reports July 30, hinting at potential…

Opinion about CURA-CSE: He has no exposure in the sector. In a holding pattern. Needs the catalysts of legalization and updated banking practices for tax write offs. But who knows how long this might take. Move on.

Opinion about SPB-T: Recent acquisition got them into compressed natural gas and renewable nat gas. Belief is that propane has matured, but alternative energy is emerging as a growth area. Erratic earnings. Plunged substantially. Total compounded shareholder return for a decade is just over 1%; over 20 years, it's 0.5%. You're trading income for capital. Yield…

Opinion about NFI-T: He owns it in the Canadian portfolio. There is a supply shortage of buses and it has a new big order from Toronto. There have been some liquidity challenges but they are abating. They make any kind of bus but the electric ones carry the biggest price premium so they can make…

Opinion about IFP-T: The lumber industry in Canada has been in the line of sight for tariffs for the past decade. Housing prices have depressed the price of lumber for the past 2 to 3 years. One he likes in this sector is Doman Building Materials which is more of a processor of lumber. It…

Opinion about CHR-T: Owns shares in company. Has done well the past year. Expecting further upside going forward. Dividend is expected sometime soon. Subcontracting business from Air Canada very good for reliable revenues. Price multiple not as high as it should be. 

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…

Opinion about CKI-T: Trevor Rose’s Insights - Trevor’s most-liked answers from 5i Research The stock has really jumped over the last month and the most recent news we see is relating to CKI renewing its NCIB (share buyback plan). CKI plans to buyback 5% of outstanding shares over the next year. Results vary significantly period-to-period…

Opinion about WEF-T: Trevor Rose’s Insights - Trevor’s most-liked answers from 5i Research WEF has rallied with interest rates, which help the sector, but is still down 26% for the year and 37% over 52 weeks. Note the dividend was cancelled in November 2023 and none is paid currently. This week WEF announced it would…

Opinion about BOS-T: Company performing very well. Rubber products very profitable. US growth continues with defensive spending. Management team performing well with good strategic review. Expecting company to focus on traditional rubber compounding business - will increase cash flows. 

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 SWP-T: He sold his shares a few years ago, because SWP would need a lot of capital to move their plant (to meet higher demand). The results have been pretty good, but the prices have also risen. Also, they face competition and need more capital to complete further expansion. So, they have taken…

Opinion about BBD.B-T: Pleased with performance. Continues to like. Runup this month due to contract to deliver 50 aircraft. Pure play on private aviation. A generation or half a generation ahead of competitors in medium- and long-range aircraft. It's the best on a range of metrics, and its money-is-no-object customers don't comparison shop. After-market parts…

Opinion about GTII-CSE: Trevor Rose’s Insights - Trevor’s most-liked answers from 5i Research With continued negative stock momentum, some debt, and not a lot of growth expected (estimated EPS this year less than 2021) it is hard to get too excited about GTII. There has been some insider buying which is a good sign, but…

Opinion about EIF-T: It has done well creating long term value for shareholders. It is good at acquiring and integrating assets. Doesn't own but likes it.

Opinion about LAS.A-T: Good business. Packaged food and juice. Success in US growing through acquisition. Pressure from input commodity costs. Things seem to have stabilized from Covid margin pressures. Strong balance sheet. Not overly liquid. Fairly reasonable valuation. On his radar; if it pulled back, might take a position.

Opinion about CAS-T: Huge new facility is coming onstream, and fundamentals in containerboard are more solid than in the very competitive tissue market. Facility over budget, so will take a while to get a return. Focused on debt reduction.

Opinion about DBM-T: Supplier to HD. Has gone down on recessionary fears. One of the big holdings in his income fund. Canada and US need to build more houses. Well run. Not a risky business. Big fat dividend yield of almost 9%.

Opinion about ANRG-T: It took on a lot of debt after the IPO in 2021 and almost failed but are now re-capitalized and can turn around. The new chairman continues to buy stock. It is in the renewable natural gas sector where organic waste is turned into energy. Has $260 million in backlog and revenue…

Opinion about CRP-T: (A Top Pick April 3/14. Down 12%.) A fully integrated agricultural company with a railroad to their elevators along with production of legumes and wheat. Thinks it should deliver quite nicely this summer because of what is going on in California. Feels drought is going to haunt us from a food inflation…

Opinion about SXP-T: Trevor Rose’s Insights - Trevor’s most-liked answers from 5i Research EPS of 9c missed estimates of 17.5c; revenue of $72M missed estimates by 2%. EBITDA missed by 11%. SXP is down significantly over the last twelve months by ~42% and recent earnings pointed towards declining profits and revenues. Revenue fell $6M. Earnings…

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

Opinion about EXRO-X: Trevor Rose’s Insights - Trevor’s most-liked answers from 5i Research The company saw a big pop in 2021 on EV hype for the Coil Drivers it sells. It has never really had significant revenues or positive free cash flows. If EV demand booms the stock could do better, but overall we are…

Opinion about FLY-X: Trevor Rose’s Insights - Trevor’s most-liked answers from 5i Research. Profit of 1c per share beat estimates of -1c. Revenue of $7.2M beat estimates by 11.4%. EBITDA was positive $1.17M vs an expected loss of $305,000. Sales rose 186% so certainly a nice improvement. Margin was 67% up from 49.5%. Profit was the highest…

Opinion about HRX-T: Very strong Canadian company that doesn't get enough attention from the markets. Last quarter starting to prove business prospects. Landing gear in very high demand within airline sector. Trading at discount to other names in the sector. Very high barriers to entry within the business. Margins continue to expand - will be…

Opinion about CL-CN: CURELF-N vs. CL-X. He really made a focus on the US for cannabis. He thinks the US MSOs have a tremendous amount of room to go. CURELF-N is one of the leaders. CL-X just did a deal in California, which is one of the biggest markets out there. He likes both of…

Opinion about WEED-T: Good for marijuana exposure. Speculative, but quality. 

Opinion about TBL-T: There were a couple of subtle things went on with the trust conversion which discouraged a lot of investors. An illiquid stock. Most of their exposure is in B.C. and Alberta where housing is still very strong. Thinks we're at the peak of a cycle so don't have it as a long…

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 TPZ-T: Top of the heap for what he'd want to own in terms of O&G royalty companies and infrastructure.

Opinion about KEY-T: LNG projects are growing and it will be one of the companies that benefits from the increased volume of natural gas. It made a big acquisition and has stable cash flow as a mid-stream company. Has a great future with another decade of growth.

Opinion about MEG-T: Thoughts on the offer? Both SCR and MEG held in taxable account. He's not an M&A guy. If you want a really good answer, ask somebody else 😉  A board will often reject something like this because they think it should be higher. And maybe a competitor will come along with a…

Opinion about IPCO-T: Also a Lundin Group company. Consistent in buying back shares. Stock's substantially undervalued. Heavy oil producer. Potential beneficiary of de-bottlenecking Keystone. No dividend. (Analysts’ price target is $20.27)

Opinion about PXT-T: Yield is 13%. Dividend not sustainable. Great candidate for tax-loss selling, and buy another high yielder (such as WCP) with the proceeds. WCP has meaningfully better assets, reliable management, with no Colombian geopolitical risk. 

Opinion about SOIL-T: Trevor Rose’s Insights - Trevor’s most-liked answers from 5i Research At less than 4X earnings, the stock is one of the cheapest within the sector (no dividend). The stock is down 21% YTD and 35% over one year. Debt is pretty high at 2X cash flow. Revenue has grown nicely, but earnings/cash…

Opinion about VET-T: It is trading where it should. There are headwinds with European gas prices. It has struggled quite a lot but the last quarter was reasonable. You should probably sell it for something with more growth.

Opinion about CEU-T: Had a 60% correction from peak to trough earlier this year. Just now moved above the 200-day MA, and starting to see volume increase. A bit of a hedge if we do see energy move. If he's correct about starting a new cycle, it's the time to be adding small caps in…

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 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 PNE-T: Nothing wrong with the assets or management. It's just the market cap. Current environment is not conducive to meaningful outperformance by small caps. Small-cap model in Canada is essentially obsolete, they just can't afford to drill. Consider taking the tax loss. See his Top Picks.

Opinion about PRQ-T: 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.

Opinion about IPO-T: Trevor Rose’s Insights - Trevor’s most-liked answers from 5i Research IPO is a small cap oil and gas company. It is down about 10% over the last year, but has been trending up year-to-date. IPO also pays out a high yield at 7.7% and is cheap on a forward price-to-earnings basis at…

Opinion about SHLE-T: Trevor Rose’s Insights - Trevor’s most-liked answers from 5i Research The stock is exceptionally cheap at 4X earnings but that has not prevented a 13% YTD decline. The balance sheet is a bit levered but nothing too concerning. Insiders own 14% and have been net buyers in 2025. It's interesting, but very…

Opinion about GXE-T: Company share price is reflective of lack in interest in small energy names (market cap too small). Company needs to sell itself in order to generate value. Better options for investors out there. 

Opinion about JOY-T: They brought in a partner this summer to help develop the East Duvernay. They still have too much debt. She is watching it but not recommending it. Not everything is cheap in this sector, still have to selective.

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 TRP-T: He owned it for a while. Had a big run-up last year but thinks it is pretty much done now with a lot of insider selling. Tends to have big swings.

Opinion about OVV-T: Stockchase Research Editor: Michael O'Reilly OVV is generating over a $1 billion in cash flow, allowing the company to buyback shares, retire debt and still see cash reserves grow according to recently reported earnings.  The company continues to integrate assets into their prolific Montney portfolio.  It trades at book value and 19x…

Opinion about PSI-T: (A Top Pick Jul 30/24, Down 10.4%)Stockchase Research Editor: Michael O'Reilly Our PAST TOP PICK with PSI has triggered its stop at $15.  To remain disciplined, we recommend covering the position at this time.  

Opinion about CJ-T: Bought at $8.50, now at $6.64. Sentiment remains challenged in the space (a common theme today), even though the Energy Index is up about 20% YTD. People are hiding in large caps, with few funds coming to small- or mid-caps. Hard to see it outperforming. Yield is 10.7%, pretty hard to replace.…

Opinion about KEC-T: Trevor Rose’s Insights - Trevor’s most-liked answers from 5i Research Trading is thin, despite its $480M market cap. Sales had a big drop, to $114M from $159.5M, as prices declined. EPS fell more than half to $1.09 vs $2.57. Production of 24,707 fell slightly. With lower prices, the only way to improve…

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 RBY-T: Doesn't believe in quality of assets. Company too new to determine whether a good investment. Good management, but not buying shares. Exploration oriented company.

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 MCB-T: Trevor Rose’s Insights - Trevor’s most-liked answers from 5i Research MCB provides services and equipment to the energy sector, such as drilling equipment and replacement parts. It also makes heavy-duty trailers. It is small at a $116M market cap, and cheap at 11.5X forward earnings. It has a decent dividend yield of…

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 OYL-X: Did a shareholder vote and Pacific Rubiales (PRE-T) will be assuming the management of the company. Drilling off the coast of Guyana. Got to about 1000 feet of the target. Because of gas creating a lot of pressure, they couldn’t finish the drilling. Potential is still there and could be a world-class…

Opinion about PMT-T: 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).

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 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 HWO-T: Trevor Rose’s Insights - Trevor’s most-liked answers from 5i Research Splitting the company into two to separate the PNG business makes sense to us. The return of capital could be as much as 76c per share. This all sounds attractive...BUT....it is already a very small company. With less capital, and a split,…

Opinion about ORA-T: Had some execution problems in a number of their mines. Also recently lost their CEO. Since then, he has dramatically reduced his position. At some time he will increase his holdings but there is no rush at this time.

Opinion about VNP-T: Based in Montreal. Supply specialty semiconductors and performance materials. Customers such as a manufacturer of solar panels. FSLR in the US, one of VNP's biggest customer, guided down. Stock dipped. Need to get a handle on tariff impact. Not growthy enough for him.

Opinion about K-T: He prefers Kinross because it has a little more growth but both are excellent. As to the price of gold he thinks it holds with no big moves higher or lower.

Opinion about PAAS-T: Probably the premier silver company. 

Opinion about ARTG-X: Billy Kawasaki’s Insights - Billy’s most-liked answers from 5i Research. Has lots of cash but does not have revenue. They have interesting assets. Good potential with $200M in cash to develop its properties. Management is working aggressively to quickly build out the company. Unlock Premium - Try 5i Free

Opinion about ERO-N: Trevor Rose’s Insights - Trevor’s most-liked answers from 5i Research ERO in June reached commercial operations at its Tucuma mine, which is good, but often results in some investors selling on news. Then, the copper market this week was sent into turmoil with Trump's import tax plan. ERO has received a couple…

Opinion about DPM-T: Dundee is nowhere as large as Barrick, Franco Nevada or Agnico Eagle, which comprise a third of the Canadian materials sector, but it has outperformed it so far in 2024. Dundee shares have rallied 8.5% in this time period while Barrick is down over 16%. Also, Dundee holds more potential upside. Consensus…

Opinion about LIF-T: Pretty-high-quality iron ore deposit right here in Canada, long-life asset. Some concerns from tariffs around the steel business. Nice dividend. With share price off, good time to look at it.

Opinion about EDR-T: Silver has disappointed investors over the last 3 years; all are in the penalty box. He's attracted to silver. Portfolio comprised mainly of second-tier mines, and he prefers larger mines at the lower end of the cost curve. When the market turns around, and it will, EDR will participate.

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

Opinion about FNV-T: Likes commodities right now. It was stuck forever around $200, and now we've seen a classic breakout and it's pulling back. Assuming the neckline is $200, if it can hold $200 and bounce off it positively, he'd buy. Great-looking chart as long as it can hold the neckline.

Opinion about AGI-T: Likes last year's acquisition of Argonaut. Good path to boost production by 11% compounded rate of growth by end of the decade. None of the intermediates or seniors can match this. All in low political risk jurisdictions. Yield is 0.35%. (Analysts’ price target is $50.97)

Opinion about BTO-T: Gold should at least maintain these levels due to central bank buying. Underappreciated by the market, as everyone was worried about geopolitical risk. Growth is coming on in less risky areas, including in Canada. Discount to NAV. Good operators. Yield is 2.28%. (Analysts’ price target is $6.61)

Opinion about OR-T: (A Top Pick Mar 11/24, Up 67%) Everybody loves gold now. Still only trades at 1.1x NAV. Cheaper on valuation than AEM, and still growing. Gossip that one of its downed mines might come back, so that's a catalyst. He'll always have an allocation to gold. See his Top Picks.

Opinion about TXG-T: (A Top Pick Jun 28/24, Up 102%) Trading ridiculously cheaply as one pit was running out. However, a new mine (70% gold, 30% copper) came in on time and on budget and has taken reserves into 2038. So they won't miss a step in production. Still at a big discount to the…

Opinion about RUS-T: His fundamental analyst on this name rates it "outperform" and doesn't see 50% tariff ramifications as huge. Higher highs, higher lows. Since tariff tantrum, has really started to pick up and try to push higher. Likes the setup. If he's right about the rally into August, should retest recent highs around $46.…

Opinion about OSK-T: (A Top Pick Mar 03/20, Down 6%) Operate a Quebec mine which coming along, and produces 6 million high-grade ounces underground. They're targeting September for their resource update, and the feasibility study in 2022. The right people are in place. He thinks there's more exploration to come in this mine. He used…

Opinion about WDO-T: (A Top Pick Jul 24/25, Down 6.4%)Stockchase Research Editor: Michael O'Reilly Our PAST TOP PICK with WDO has triggered its stop at $16.  To remain disciplined, we recommend covering the position at this time.  This will result in a net investment loss of 6%, when combined with our previous guidance.   

Opinion about SSRM-T: One of the most senior producers of silver. Silver is better than gold, as the bulk of silver production comes from copper mines. Silver just crossed $24, and there's lots of upside. SSRM has a $28 price target. He wants something that will benefit once inflation is realized.

Opinion about ASTL-T: Amid new tariff threats. Go back to the 2017 timeframe and look at the last time he did this with steel and aluminum. Cheap for a reason. Need a high tolerance for risk and volatility to put a position on right now. These names are down, compared to US names that are…

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 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.

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

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 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 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 MGM-X: Doesn't like the sole risk exploration. If the story develops the people behind the company have the financial connections. The terrain is legendary gold ground. he can not make the data work for hi to buy it.

Opinion about ABX-T: Problems in Mali, and company's short-term performance depends on that outcome. High operating costs in Nevada goldfields. Has decided to be a mining company rather than a gold mining company, which an increasing amount of revenue coming from copper. Much growth will come from Pakistan project, which he likes but the market…

Opinion about WPM-T: AEM, WPM and FNV need to be in every single precious metals portfolio.

Opinion about CCO-T: Caught up by sellers in the momentum stocks. Long-term picture for nuclear power is really strong. Demand for power will continue to grow, and this is one of the links in that chain. Stock's pulled back a bit, and he'd be a buyer.

Opinion about LUG-T: Highly ranked stock acting extremely well. RSI doing well. Stock's currently in an uptrend, and gold is trending upward. Gold is consolidating around $3000. 

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 IMG-T: Consistent theme across his Top Picks will be companies that are going to rerate, due to new projects or a shift in business.This one has benefited from strong gold prices, but real upside will come from the Cote gold mine around Sudbury. It will start to operate at full speed by end…

Opinion about AG-N: A fan, but doesn't own. Recent acquisition will help use free cashflow against tax-loss carryforwards. Won't buy until he sees resolution of issue at Jerritt Canyon. Big fan of CEO and track record.

Opinion about DML-T: Expects the uranium market to do extremely well for next 5 years. Has a permitted mill, which is hard to obtain. Second-best asset in the Athabasca Basin, after CCO. Only reservation is that its project is deep, rather than on surface, using technology he's not familiar enough with to be confident of…

Opinion about SSL-T: Mistakes in capital deployment were made about 3 years ago. Believes Turkiye mine will go into production, and cashflow will really change this company. Now using FCF to pay down debt rapidly. Either share price goes up, or company is taken over.

Opinion about FOM-X: (Top Pick Jan 10/12, Down 5.00%) In general resource stocks have been difficult. It is with the crowd. Massive VMS deposit adjacent to Hudbay. At some point it will be developed and patience is required. Hudbay could expand by buying this one.

Opinion about SVM-T: Part of syndicate that brought company to markets. Financials in China a little opaque, but company has been generous to shareholders through dividends and buybacks. Would recommend buying. 

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 ERD-T: The fact that TECK.B is a shareholder speaks well for it, and he should pay attention to that. Explores and develops copper and gold in Mongolia.

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 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 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 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.

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 ELR-T: Shut down production recently. This type of situation is what usually happens at the bottom of a cycle, although this one may not be around to enjoy the upside of the cycle.

Opinion about KRN-T: (Market Call Minute.) Feels the potash market is oversupplied.

Opinion about CVO-T: Good job overall, well run. Exposed to some of the AI trends. Sizable competition for what they do. He's conservative on whether it can differentiate itself in the coming years. Must show it can get the big, multi-year contracts.

Opinion about NVEI-T: Has lagged the Canadian tech sector. Used to own, wouldn't be back in soon. On its recent partnership with ADBE, he tends to own the big payment systems like MA and Visa, big beneficiaries of the resurgence in the economy. 

Opinion about GIB.A-T: Investor's down. Sell, or buy more? Family controlled. This whole sector of IT consulting has been for sale YTD. People want to own leading-edge tech, and this isn't it. US is its biggest geography and US government its biggest client base. Concerns of government belt-tightening didn't come to pass.Pretty good company. Compounded…

Opinion about DND-T: Better opportunities elsewhere in higher-probability stocks. Very competitive business. He doesn't understand the analysts' price target average, and that's what lures people in. (Analysts’ price target is $36.40)

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 DRT-T: Customized, prefabricated environmental office interior solutions. High net cash position. Significant upside because of their flexible business model. Surge in office reconfiguration taking place across North America. Top management. No dividend. (Analysts’ price target is $3.46)

Opinion about SEV-T: Billy Kawasaki’s Insights - Billy’s most-liked answers from 5i Research. Backlog reported looks better with $4-5M in revenue expected in the second half of this year. They have received a large new order from China. They also secured a $5M in equity financing. Risks are high with market cap at $28M and…

Opinion about ART-X: 3D holograms. A year ago, it was 12-14 cents. Fallen off the radar, such a shame. Cutting edge. Product is pricey. Lots of pharma companies use it.

Opinion about LSPD-T: Bought recently on weakness. Tried for corporate restructuring, but nothing's happened. Focusing on a higher-end but smaller customer base, which is taking time to implement. Tech company trading at 2x revenue, starting to generate operating cashflow. Cheap valuation, buying back a ton of stock. Worth at least a trade.

Opinion about DND-T: Better opportunities elsewhere in higher-probability stocks. Very competitive business. He doesn't understand the analysts' price target average, and that's what lures people in. (Analysts’ price target is $36.40)

Opinion about TC-T: Sold because its ROIC returns started to get a bit wonky. In fact in last 3 years, ROIC has been negative. Satellite internet access has eaten the lunch of fibre. Hard to form a moat around its domain business. Wait for ROIC to be in excess of 20% for at least 3…

Opinion about SYZ-T: It is Calgary based but the management team is in the U.S. It is involved in government education and charity software. It has had some difficulties in the past but is back to being undervalued and growing with the management team change. He is looking for revenue growth of 20 to 30%.…

Opinion about CSU-T: The challenge he always had with CSU is the continuous rush to buy small companies that don't add value. He wants to see spin-outs and silos to get rid of non-core businesses.

Opinion about T-T: Telecom is showing a slow bounce back but growth is slower right now and don't expect fireworks in capital gains appreciation. Cash flow is expected to improve but the debt load is a little higher. She owns it for the dividend of over 7%.

Opinion about DCBO-T: The price target is a high $74. He's stayed away, because it's a crowded space including the big players.

Opinion about TIXT-T: It has dropped 90% since its IPO. A buyout from Telus has been proposed so you could hold it until the deal closes for a bit more.

Opinion about QTRH-T: They dominate US market share in electronic toll roads, and lead in weight-in-motion in trucks. This space is getting more technology driven. They had low-margin contracts a few years ago, but those are turning around, so we will see wider margins. Recent quarters are guiding towards that under new management. They have…

Opinion about PZA-T: Monthly dividend of 7.75 cents. Pretty range-bound, between $12-15, for a couple of years. Looks as though it's pulled back into the middle. Steady stock, steady and mature business. More of a yield play. Yield is 7%.

Opinion about QSR-T: She's nervous about the consumer, particularly in Canada. Highly indebted consumer is being more cautious on discretionary spending. If it were just Tim's, she'd be OK with it because she likes the trade-down economics. Burger King is still closing stores, lots of competition and margin pressure.

Opinion about PET-T: (A Top Pick Nov 12/24, Up 40.9%)Stockchase Research Editor: Michael O'Reilly Our PAST TOP PICK with PET is progressing well.  To remain disciplined, we recommend trailing up the stop (from $29) to $32 at this time.

Opinion about SOY-T: Trevor Rose’s Insights - Trevor’s most-liked answers from 5i Research We think investors can wait. With a highly leveraged balance sheet, very weak momentum, economic concerns and a history of mixed results and losses, we do not think it is the type of stock to own in the current market environment, especially…

Opinion about TSAT-T: (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.  

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 SIS-T: Doing a really good job prior to tariffs. A lot of products are FDA-regulated and not subject to tariffs. Moved some production to the US. Needs-based products to help people age safely at home. Price increases can be passed along to customers.

Opinion about CGX-T: It was a darling, a great business years ago that generated tons of free cash flow. He once owned it. Then, it was supposed to be bought, but bad luck saw Covid hit and the deal died. Great management and still a good business that generates cash, but times have changed--there are…

Opinion about LEV-N: He sees it as a short. The stock has moved down for two years. The revenue growth has been impressive but not even close to profitable.

Opinion about ADW.A-T: Stores may or may not be impacted by Ontario government rolling out more retail locations. The Pellers stepped down from the board, possibly planning a bid to privatize the company but he's not really sure.

Opinion about BYL-T: Notoriously volatile. BYL has had a rough ride in recent years, but has fixed their balance sheet after selling their money-losing mobile business based in Korea. Are now focused on embedded antennas, infrastructure and satcom. They just announced a big stadium deal in South American for their wireless antennas, in which they…

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 BCE-T: Telcos in NA are a mixed bag right now. He'd be a seller. Other things outside of telecom to do with your money.

Opinion about STN-T: Banner earnings report. Revenues are growing faster than analysts expected. Into environmental architectural projects, especially in Canada and US. Up 25% YTD. Long-term compound annual return would be ~15%. Right spot, right time.

Opinion about SAP-T: (A Top Pick Feb 05/25, Up 15%) (Note the short timeframe.)  In Canada, it's retail. But south of the border it's more food services and is #3, and the US is dragging down its profitability. If it can return to half of former levels in US, it will be a very cheap…

Opinion about CTC-T: Traditional bricks and mortar business that will face competition from eCommerce. Undifferentiated shopping experience that is not enjoyable. Discretionary product offering makes it difficult to retain customers. Would not recommend investing at this time. Housing slowdown in Canada will also be hard on the business. 

Opinion about CTC.A-T: Kind of an up-and-down stock over its history. Resistance about a year ago, and looks to be attempting to bounce off that. Now you have to look for the next level of overhead resistance, which may be ~$195. Moves right now show it's very probably a near-term trade. How high and how…

Opinion about QBR.A-T: It's cheap, and surprised shares haven't moved higher. They will buy wireless assets from Shaw to become the #4 player in Canadian telcos. Valuation is lower than its peers.

Opinion about QBR.B-T: (A Top Pick Jan 23/24, Up 3%) Benefiting from the Freedom Mobile purchase. Able to expand in Ontario and Western Canada without deploying too much capex. Very high ROE and free cashflow, allowing them to lower debt and obtain investment-grade rating on bonds. Aggressively buying back shares. Best-performing telecom stock this year.

Opinion about PRMW-T: Trevor Rose’s Insights - Trevor’s most-liked answers from 5i Research. Pure-play water exposure; sustainability trend. Strong position globally; renewed water focus. Attractive valuation; good dividend. Debt recently lowered but still high. Unlock Premium - Try 5i Free

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 GOOS-T: Good proxy for health of consumers in Canada. Luxury item that is discretionary. Hard to excited about this style of business. Not seeing major spending from average population. Better options for investors out there. 

Opinion about KBL-T: (A Top Pick Jul 29/24, Up 9%) Sleepy company, not much marketing, not covered by many analysts. Very frugal and well managed, only coming to market when required (as they did for transformative UK acquisition this past spring). Popped on recent earnings.

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 HLF-T: Trevor Rose’s Insights - Trevor’s most-liked answers from 5i Research HLF hit a multi-year high as the Mrs. Pauls and Van de Kamp acquisition looks solid. It continues HLF's plan to diversify its global supply chain, and it already co-manufactures for the brands. There will be a small 1c negative impact to…

Opinion about ICE-T: This hardly trades at all. Insiders own a very big chunk of it, about 75%. They own ice rinks and an adult hockey league. Revenue has been mostly flat for the past 5 years. There is about $45 million in net debt on a $50-$60 million market cap company. Pays a 2%…

Opinion about FTS-T: Likes the regulated utilities. 

Opinion about TA-T: (A Top Pick Apr 29/25, Up 31.4%)Stockchase Research Editor: Michael O'Reilly Our PAST TOP PICK with TA is progressing well.  To remain disciplined, we recommend trailing up the stop (from $13.00) to $14.50 at this time.

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 BIP.UN-T: There has been a pullback so this is good entry point. Business is good and the last quarter beat expectations. It is constantly putting money to work. The stock yields 5.5%. It is a steady compounder and she sees good upside potential.        Buy 8  Hold 3  Sell 0 (Analysts’…

Opinion about INE-T: This is how he'd play the renewable energy trade. Thinks rates will go higher next year, which makes him cautious. If that's the case for rates, a lot of the bond proxies like utilities and REITs are going to come under pressure. A bit more upside potential, but for a trade.

Opinion about H-T: Likes the regulated utilities. 

Opinion about AQN-T: The chart for AQN tells the story for the sector.Seeing signs of improvement. Both AQN and NPI have moved above 200-day (40-week) moving average, a positive. Especially so because a lot more quant funds are moving $$ in the markets, and one of the triggers they look at is whether or not…

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 BEP.UN-T: The chart for AQN tells the story for the sector.Seeing signs of improvement. Both AQN and NPI have moved above 200-day (40-week) moving average, a positive. Especially so because a lot more quant funds are moving $$ in the markets, and one of the triggers they look at is whether or not…

Opinion about EMA-T: Likes the regulated utilities. 

Opinion about TRUL-CN: It's a vertically integrated medical marijuana company that is dominant in Florida with a growing presence in the US northeast. They grow, process and sell at their own stores. They just opened their 73rd this week. They've been turning a profit since 2017 and keep posting good numbers. Too bad it trades…

Opinion about AND-T: (A Top Pick Sep 18/23, Down 7%) The segment that it's in will continue to grow, and this company is well positioned. As a medium-term play, opportunities to the upside.

Opinion about CRRX-T: (A Top Pick Nov 09/21, Down 51%) The largest provider of pharmaceutical services in Canada. Growing organically and by acquisition. Has higher labour costs - margins should be compressed short term but not longer term. Good management.

Opinion about JWEL-T: Bottomed back in 2023. Since then a defined uptrend, with higher highs and higher lows. Chart looks good, stock remains in a trading range. Next upside target is ~$40.50.

Opinion about WELL-T: Tends to spike on a few catalysts, then falls off if there's no follow through. His position isn't large. Good runway to analysts' price target. Building out clinical side of business and the SaaS side. Needs more catalysts. Wishes he'd traded it instead of invested. (Analysts’ price target is $8.70)

Opinion about GUD-T: Numbers are OK, but not fantastic. Better names in the sector. Lot of respect for management. May not be able to recapture the glory days of buying rights to distribute older drugs.

Opinion about CPH-T: It could become the next Paladin. It has great management and ownership along with a good outlook. It made a big acquisition in the U.S. and if the first two quarters go well the stock could go up.

Opinion about DR-T: Has pulled back a lot. It holds US medical property. It has suffered inflationary pressures, but will diminish in 2023 and the stock will recover. Don't sell it in the current Dutch auction.

Opinion about EDT-T: 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.

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 VHI-T: Trevor Rose’s Insights - Trevor’s most-liked answers from 5i Research EPS of 3c missed estimates of 4c; revenue of $23.8M beat estimates by 8%. EBITDA of $6.3M beat estimates by 13%. ARR (annual recurring revenue) ose 8%. Total revenue rose 47%. Momentum was good and the acquisitions are integrating well. Organic growth…

Opinion about CRRX-T: (A Top Pick Nov 09/21, Down 51%) The largest provider of pharmaceutical services in Canada. Growing organically and by acquisition. Has higher labour costs - margins should be compressed short term but not longer term. Good management.