New 52-Week Highs and Lows (Nov 21-27)

He looked at it recently. They run a core recruiting business in CEOs/CFOs, and launched a new division in mid-market recruiting like middle-management. The latter has been growing well. Shares have ripped higher then come down. He's watching this for another quarter or two.

Fundamentally a strong company.Recent increase in shares makes name expensive.Waiting for shares to fall before buying.Long term is a good investment.Very strong assets and management. 

It was all " gung ho" about 2 years ago. It is difficult to find out what is going on. Management have been rather shy for a long time. Overall revenues have not risen dramatically for a long time. There are a lot of competitors. He needs to look more closely into the company.

A tricky one. Have a very small mine in Ireland that they are trying to put into production as well as a small jewellery division. There is no clear indication of what they are trying to be. Gold deposit is very small.

Stock vs. Stock. FIE-T vs. CMR-T. CMR-T is a money market fund. FIE-T is a multi holding income strategy holding all kinds of assets, so there will be more volatility. When markets are up go into CMR-T and FIE-T when they are down.

It’s slowly moved up from $28. The pullback is a natural phenomenon after the pop. Lots of volume. He would buy it here.

Stockchase Research Editor: Michael O’Reilly We reiterate, HR-UN, one of Canada's largest REITS holding $11.4 billion in assets in North America, as a TOP PICK. Its strategic plan is refocusing on growth orientated residential and industrial properties. It trades at 4x earnings and under book value.  The yield is good and backed by a payout…

A good dividend play. The yield is at 4.6%. People tend to focus on the tech side of green stocks, but this has utilities that have consistent income. They are a potential takeover target for Brookfield so the price has recently shot up. Could get decent returns.

AGI vs. FVI Likes both. Down from peak. Lots of exploration work, massively increased high-grade gold reserves. Finding new gold deposits around the globe has been very difficult. So when they double their reserves at home, in Canada, that's even better. Stick with it.

Just completed an expansion. A bit more debt leveraged. Fortunes rise and fall with copper, especially with a recession scenario. China's problems aren't helping. Should be back to $3 in next 3-6 months, $4 in a year. Operational issues in Q1. Second half should improve. Sit tight. You could dip your toe in Q4.

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

Transformed company from 4-5 years ago. Not a good investment. Looking elsewhere. 96% retail ownership implies speculative asset. Tough business to operate in (mining). Consistently losing money.

Gold is supposed to be the inflation hedge, but that hasn't happened. He owns no gold, because it pays no yield. Gold is a personal preference. Owning a little is fine, but in bars to be stored in a bank. Don't buy the funds, because you must pay a fee.

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.

(A Top Pick Dec 13/22, Up 19.2%)Stockchase Research Editor: Michael O’Reilly Our PAST TOP PICK with ELD has achieved its target at $13.50.  To remain disciplined, we recommend covering half the position at this time and trailing up the stop (from $10.50) to $11.50 at this time.

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

Too much political risk. Too much financing risk. Nice deposit.

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

Very cheap valuation right now. Cyclical company that will perform well as economy recovers. Strong balance sheet and financials. Soft landing in the economy will be great for business.

Trevor Rose’s Insights - Trevor’s most-liked answers from 5i Research.  EPS was 31c, up from 24c the prior year, but short of estimates of 37c. Revenue was $78.8M, up 19% and matching estimates. The dividend was raised 17%. The company plans to focus on cost savings and integration of its acquisitions this year. With the stock way up YTD…

(A Top Pick Oct 23/19, Up 10%) A bit of a lagger but he continues to like and hold it. They had some Covid issues but everything is coming together, especially with their leverage. They stayed alive during the worse by mining low grade. They have started mining high quality gold.

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

CCL.B-T A great label maker. A fantastic story over the years. He would never recommend selling it. You also have IPT-T and have been selling weak with all the hurricanes in the last weeks. They create a lot of value but there is better value with IPT-T. He holds this over CCL.B-T because IPT-T are…

The Barkerville district has a lot of prospectivity. Their individual drill results are excellent but under the control of the Osisko company. He doesn't own it, because has a hard time getting the drill holes to tie together. That said, the district has a lot of promise and the exploration team is strong. The stock…

Thinks there is another mine in this company. This is a story that is going to unfold and he likes it.

It’s a tough deposit. Erratic mineralization with the Uranium. He doesn’t think a lot of the deposit. Prefers others.

Almost entirely natural gas based company. Paying for premium on carbon capture technology involvement with Entropy. Not enough opportunity to justify investment. Better opportunities in oil weighted companies.

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

Not as bullish on energy services (not as much drilling). Good job at paying down debt. Capital allocation will ensure less activity in drilling services.

Exposure to medium and heavy grade oil.Small cap that not many large investors care about.Dividend is 10% and is very strong (sustainable above $70).Older assets with abandonment liabilities.Good name for next 1-2 years if you want yield.

Very strong management team with Murray Edwards.Trading at premium.Excellent dividend yield that is very strong.Great energy company for the long term shareholder.Low risk investment. 

Concern that company is inventory light.Duvernay asset better than people believe. Tier 2 economics present a good investment case.~13 years of inventory on Duvernay assets.Pledging 50% of free cash flow returning to shareholders next year.Good long term investment.

One of the largest fleets of generation 3 and 4 deeper coil tubing. Two businesses: coil tubing and tools. Both are being run efficiently. Margin pressure in the sector. Great little story that will be a big beneficiary of LNG drilling. No debt. 5-year bull market target of $3. 2023 will be a pivotal year…

Well run. Their theme is acquire land, develop it, drill it as efficiently as possible to bring up cashflow to realize NAV, sell it when it's de-risked. Management owns about 20% of it. Continues to like it, especially if you want a Canadian gas name.

One of the better stocks in the energy space. Relative strength is really accelerating. Energy's a big part of the TSX, so you always want to own some. Doesn't mind adding exposure, has the defensive dividend. 

Likes all transportation, especially this one.

Second largest investor in company and still owns shares.60% gas , but lots of condensate production.20+ years of inventory.Currently expecting 100% upside on stock.Committed to return at least 75% of capital to shareholders.

Companies with challenged balance sheets (high debt in this case) face difficulty in banks continuing to finance growth. He would not own this one.

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.

Not a great company to own.Value trap that has geopolitical risk.Better names to own in sector.Very risky buy.Inventory depth not as great.

For full disclosure, she is on the Board of Directors of Blackpearl. International Petroleum has made an offer to acquire. It is expected to close in mid December. She would not be buying a stock that may only be around for a few weeks. Management is very strong and will be going to International Petroleum.

Global maker of pipeline coatings. Owns shares in portfolio. Expecting company to do well with strong energy prices. Demand for energy pipelines will grow.

One of the more conservatively run oil service companies. A smaller oil service business. He likes some of the stuff they do in their rig matting and gas compression businesses. They have an acquisition strategy, and in this environment they may see some opportunities that could be accretive to shareholders. Balance sheet is pretty clean.…

Depreciation is real. The more you pump, the faster the equipment wears down. Well service activity is much higher than 2-3 years ago. Rig counts are moving up, pricing is higher, and TCW will benefit. Sweet spot in the cycle right now, but he has concerns about length of cycle. Any near-term softening in nat…

(A Top Pick Jun 03/22, Down 31%) Active on M&A has been tough on shares.Overhang on share count being reduced post Deltastream acquisition. Paying down debt at high rate.Exposure to Clearwater oil play (most economic oil play in North America).Still 100% upside.

(A Top Pick Feb 09/21, Up 9%) Continues to hold.

Pretty well managed. Consistently grows cashflow over time. Pretty favourable on it, though a bit expensive now. He owns other names that he's comfortable with.

There are aspects that will detract institutional ownership. There are some promotional aspects. The name is cheap and are paying down debt. It is not a name he is looking at. The quantitative and qualitative aspects need to match and for him it does not meet his requirements.

This had been on his Short List of about 10 companies. There is absolutely nothing wrong with it. He thinks you could get an 8%-10% rate of return. It just didn’t seem to have that key catalyst driver that could make it exciting. (See Top Picks.)

Natural gas prices have been clobbered. Prices usually decline this time of year. Surplus of nat gas. Astute management. Potential deals for LNG. Nat gas prices may not hit prior robust levels, but any boost will benefit ARX.

Just beat earnings and have increased production. Cheap valuation compared to peers. But it's getting more expensive heading into 2021. There's no growth here, but that goes with the entire oil patch. The real issue is will they survive. Their balance sheet is getting better, but still high for a blue-chip name. You'll be saved…

Not a good investment with current management team. Other energy companies available with better opportunities.

Well respected CEO with Jim Riddell.Tightly held company within Riddell family.Company roughly debt free.Seeing meaningful upside. Potentially 100% upside in share price.

(A Top Pick Feb 10/22, Down 16%) Income-producing stock. Financing acquisitions with debt is not particularly great in this environment. At current price, great income stream at 6% yield. Low volatility. Brookfield's now involved, so it's a core investment for him.

Have some interesting prospects on some properties. Have some financial partnerships with South Koreans. Looks like it is forming at bottom here. Not his favourite, but it meets his initial tests so it is starting to gain some attraction.

Has been really hurt by the execution of this very difficult play they are in. Company is going through some high costs, to make sure this very extreme area in northern Alberta, is all pipelined in. There are good reasons why two very, very good, smart, rich people have got ownership of this company. He…

Trevor Rose’s Insights - Trevor’s most-liked answers from 5i Research. Debt becoming a concern. Delivery and take-out only sources of sales. Special dividend paid this quarter. Dividend reinstated at a lower rate.

Trevor Rose’s Insights - Trevor’s most-liked answers from 5i Research. No longer backed by Aurora. Multiple attempts to redesign stores. Multiple products sold at steep discounts. Deteriorating margins.

In general terms still on a downtrend. Bearish big picture. Could get back into the 20 dollars.

DOL vs. ATD Both are timely, great secular growers. If he really had to choose, he'd pick ATD because of the more attractive valuation of 15-16x. DOL is in the mid-high 20s multiple, but it's justifiable because it has a faster organic growth rate. ATD has a more under-levered balance sheet, a capable serial acquirer.…

This has great assets globally. The biggest sourcing platform for organic foods. It is really hard to get an organic designation. It takes 3 years for a farm to convert. They spent a lot of time putting together assets and it hasn’t been managed well. The company did a strategic review, brought in an investor…

Big pullback, then a double bottom, sideways trading, then stock broke out. Negative news today, but it's still holding in sideways trading channel. As long as we don't break below recent lows in the range, chart shows higher highs and higher lows, an uptrend. Now in sideways consolidation, a "pennant" in technical terms, which typically…

Too many good shows on competing streaming services. Kids don't go to a movie every Friday the way he used to. Doesn't know what the catalyst is. Dividend gone. Balance sheet probably not in good shape, pandemic did lots of damage. All depends on quality of movies. Media companies all losing money. No growth tailwinds…

He owned it at $3.81 and sold it at $3.00 and is glad he did. Management is getting old and stodgy. As the stock has been thrashed following the share buyback program, he thinks the balance sheet still looks okay, but the cash position is not as good. Last quarter they lost a lot of…

We've reached the tipping point where we're sick of really dirty oil. But don't get greedy with this now. Can't recommend buying it at current levels after such a big run.

This ETF tracks Canadian oil prices. There is only $9 million of capital in this fund – be very, very careful.

Not interested at current pricing. Waiting for interest rates to rise. Not a good time to buy.

Why such a large correction? Preferred shares are a big part of this fund, and they took a hit because of higher interest rates.

HPB Energy Bull+ ETF. Immediate leverage to oil price moves. If you have a very good near-term bet that you want to make on oil this would be the way to go but if you are looking for an investment in the oil patch that has a long-term investment implications, then you should go to…

He would rather have direct access to floating rates. In Canada there are very few original floating rate preferreds left. One of the highest quality is the Brookfield BAM Preferred B or Preferred K and generally they are in the market and trading 17, 18, so they are at a big discount to their par…

For recent years, he's been off and on preferred shares. Preferreds are volatile. When interest rates plunged 2-3 years ago, this asset class got reamed. HPR pays a big dividend, but also offers huge volatility. Also, it lacks the growth of stocks but carries the volatility. He had a terrible experience with this. Look at…

Big runup, and then a sideways consolidation. Easy money's been made in energy. Oil likely to move lower and be in a sideways, choppy trading range. For the bulk of this year, and into 2024, energy stocks will go sideways and be relative underperformers. For example, if market's up 10%, energy might be up 8-9%.…

An EM ETF? He's used this in the past and recommends it, if you're looking for a single EM ETF.

Energy is entering strong seasonality from mid-February to early April. The chart shows we're poised to move up. There's undersupply of oil. Oil fundamentals are good.

Stockchase Research Editor: Michael O’Reilly A Canadian preferred share ETF that is laddered up to five years managed by BMO. This includes rate resets that benefit from rising interest rates. It has a low MER of 0.5% and an attractive yield. Preferred shares have generally been under pressure as interest rates have gone up, so…

(A Top Pick August 8/17, Up 8%) This holds what’s left over from the XIU 60. Wanted to get into some smaller stuff to get better diversification, and focus on this rather than the broader-based indices.

Management pretty astute. Expanding fairly aggressively in Ontario. Lots of opportunities. Yield is over 5%, relatively safe. Good at measuring credit in the small business sector, and delivering personal service to small business clients. Reasonably good buy if you have a longer term focus.

(A Top Pick Jan 26/23, Down 7.8%)Stockchase Research Editor: Michael O’Reilly Our PAST TOP PICK with AX.UN has triggered its stop at $8.80.  To remain disciplined, we recommend covering the position at this time.  

Interesting transaction. Takeover at a discount, which is atypical and disappointing. Hard to assess this deal, not enough detail.

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

Trevor Rose’s Insights - Trevor’s most-liked answers from 5i Research. Trading at high discount to NAV. Significant cash retention compared to peers. Diversified cash flow streams. Bid competition to slow acquisition growth.

His preference to owning its subsidiaries. Simplified company structure. Pretty nice dividend, just over 6%. Longer term, you can hold this one. Discounted price makes it a buying opportunity.

Blockchain miner. Blockchain is like the internet in 1995-96. Once it gets going, you can't stop it. Technology moving forward is diversifying. Investors can participate in the building of the network. $20 target. No dividend. (Analysts’ price target is $22.99)

They had a project where they had lent out some money to the big Urban Corp. real estate company, which defaulted on their loans. Fortunately, the loan was secured by some real estate. Terra Firma just announced getting full repayment of the principal plus interest for that property. Now it will be a function to…

Does not own stock of company, as unsure what cryptocurrency future is. If crypto prices remain strong, will be good for company. Hard to value company.

Uses their GPS system to figure out where trains are, and to more accurately schedule trains and service vehicles for people working on the rails. Reported on Aug 14 and earnings were down 10%. That was against a 32% increase in sales. In the coming quarter, earnings are expected to be down 75% year-over-year. Great…

He rarely talks about Gold. He thinks it is a strong sector bet. It is been out of favor for so long that mines have closed, productions have closed, mergers and acquisitions happened. Central Banks are now massive buyers of Gold. they want to get out of the US dollar. The Fed is not raising…

They are doing distinctive infrastructure, where they are digging trenches to get that last mile to the home. They are doing this in the UK, and have a large contract with one company. He really likes the story, but is waiting to see some revenues and earnings drop to the bottom line over the next…

(A Top Pick Nov 11/21, Down 21.3%)Stockchase Research Editor: Michael O'Reilly Our PAST TOP PICK with WJX has triggered its stop at $22. To remain disciplined, we recommend covering the position at this time. We will look for better opportunities.

Changing its name and listing on the NASDAQ. Not the big salvation that most people think. Not familiar with the company details.

He's looking at the space, which is attractive. Off the highs. Business is materially tougher, but we need it. Regulatory issues and scrutiny on EXE. Labour situation also difficult. Likes the price, but wants to see more on the business fundamentals.

There is so much concern on quality of earnings and when the companies will be profitable. He wants to see the industry mature. He likes it long term. The health side of this could be revolutionary over the next couple of decades.

A new CFO about six months ago is resulting in a change in their business operations. He thinks this is a lottery ticket if you already own it. He would wait until year end -- if it does not do well, take the tax loss then. Right now the company is running radio silent.