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

Decline in revenue. Can't see any consolidation coming

Just pulled back because of near-term concerns on upcoming European regulations, but believes that will ultimately create a tailwind as clients need to adapt a system to manage these new regulations. Trading at a 4-year low. He models a 6% EPS growth. They have an active Buy-back. Good balance sheet. Dividend yield of 3.1%. (Analysts’…

Spinal repair, less invasive. He has met them, and the company is run by a man that was formerly a nurse. 55 operations to date and now it has approval from the FDA.

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.

For short-term investors such as money market types. Simple way to get broad, low cost diversified money market exposure.

In the business of originating and then later bundling and selling mortgages, mostly to some of the larger Canadian banks. With his views on the Canadian consumer, where housing is and slowing mortgage growth, he thinks this company’s business will slow. Would prefer places where you get higher growth in financial services.

The whole group has gotten cheap, but he sees little growth with this one, not until 2020 with some of their U.S. assets. Boasts a 12% discount in its NAV. It's a yield proxy. There are better REITs, but the current price of this is decent.

An independent power producer. They have about 3000 MW of basically US based, but they do have some projects, primarily wind, in Ontario and Manitoba. Trading very inexpensively. They have the ability through their parent Pattern Energy Group (PEGI-Q) to vend in new development projects, so they don’t sustain development risks. They are 89%-90% contracted…

He does not buy or short gold stocks. From a momentum perspective, it fails poorly. With a trend down it will tend to get more selling until it reaches a floor, which it has not. There is not much cash flow and a small yield. It is a volatile stock.

A fantastic story. Have about 5 billion pounds of copper and gold. Cash costs in this environment should be about negative. Sees upside in this one.

He likes management and the asset. They are looking to produce 120,000-150,000 ounces of gold per year. They are all-in sustaining costs of around $740-$790. Have $50 million in cash. They are paying down their debt, which is only about $54 million. A single asset company and in a jurisdiction not everybody wants to be…

Recently did a debt issuance, a little odd in that it was diluted and didn't reduce the debt much. If people know there is an issue coming, it tends not to do well. He likes that this company has world beating, historic competence in high-end nickel technology. Has a sense that the high-end they are…

Hold or Sell? This has had a nice move. If you are underweight the whole gold complex you might want to keep it. If you are a trader, you have had a spectacular move in the last 4 months, you might want to take your initial capital out.

Play on the US housing recovery as well as timber, as they ship to US and Asia. Management bought 3 sawmills in 2006 which have been losing money. Have recapitalized a couple of the mills and are looking for better utilization. With better timber prices, she is expecting it to turn around and will probably…

ELD-T is all international: Greece, China and Turkey. They have had political problems in Greece, and Turkey is not exactly stable. He sold 5 years ago because of the volatility. You are getting way away from gold and it is not portfolio insurance, but execution risk.

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…

(A Top Pick Nov 2/10. Down 0.42%.) Gold deposit in Armenia with about 1.4 million ounces at just under a gram. They should resource out this month. This will be a very low cost, high margin deposit in the 2 million ounce range.

A bit difficult to value when looking at their assets. Started off as a developer in Red Lake, and everybody speculated that Goldcorp (G-T) would acquire them. That hasn’t happened. The geology just didn’t work out the way the company had expected. The company has now gone and done a bunch of other stuff, and…

It has been caught a little in the trade war with the US, due to its cross-border business dealings in steel. The fundamentals still look strong for the company, he says. It is a great management team. He would sell above $30 and would buy around $25. Otherwise he would hold it here. Yield 5%.

Manufactures highly specialized envelopes. 55% market share in Canada. Just made an acquisition. Very focused on reducing costs.

Likes it. Idaho. Sunshine mine is back in production and silver is going up and these guys are starting to make some serious money.

Yukon. Million oz discovered. Large potential to expand.

Only drawback with this is perception, which is they don't have a 43101 resource and not well defined. In some circles, that is true but if you can actually get the ore and spend shareholders money to produce a profit, that's what you should do.

It would appear that they have got themselves into a whole mess of trouble. There are a lot of questions as to what is going on here. He had concerns that the high-grade mineralization was not being properly constrained and therefore being blown out across the whole thing. Currently it is under Cease Trading order.

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.

This has done an incredible job of production and getting their costs down. We have a real use of natural gas for electricity air conditioning generation across North America, so gas prices are up. This is not the day that you want to buy gas stocks.

If you are a retiree and looking for income, this is a company that you definitely should look at. She has a lot of respect for the management team. Have done very well by investors historically. They are doing a rights offering to existing shareholders to bring some equity into the business, because they essentially…

There are 3 pressure pumpers in Canada and are involved in the hydraulic fracturing of reservoirs as part of the completion process after the well has been drilled. This company has struggled with the debt and has been selling their US business. At this point in the cycle, he wouldn’t be too constructive on this…

This company has struggled to gain investor interest and he believes it will continue to do so despite the high yield. It is about 50% light oil so its exposure to wide differentials is limited. He thinks the dividend is sustainable. Yield 9.2%.

Energy is tricky with a four year bear market. However, valuations are starting to get cheap enough. He does not own this. One of the largest producers. He just sees better opportunities in the space. (Analysts’ price target is $47.55)

She owns little Canadian oil in general. The past week oil stocks have recovered to reflect WCS prices rise. Some money has flowed back. She hasn't committed more money in this space yet. Wants to see what global oil will do for the balance of 2019.

An oilfield services company. Longer-term, he likes this. They are the Western Canadian leader in the coil tubing service business. Long-term, there is a good opportunity in this space. In the short term, he would be a little bit cautious on the entire services space. Profitability is pretty muted.

They are doing all the right things. They had assets sales. They are strong at monetizing assets. One of the stronger performing energy names.

It had a good quarter recently. He would put this lower in his rankings as there are others that are just a bit better. It yields less than ENB-T, where the risk is lower. Yield 5.7%

Trucking and well completion services. Pre-eminent logistics player on oil sands. Expected them to make acquisitions by this time. Long-term, great company to own. 3.4% yield.

How does volume play into your analysis? Volume is conviction. If you just get one day, it could be an institution buying, which may or may not mean anything. If there is a successive period of days where the volume is picking up and the stock is moving in the direction you want, it can…

(A Top Pick Apr 7/17, Down 29%) They did a good job of paying down debt. He thinks they will now move on to phase II of the current project and will bring up production. They will more than double production. It will continually bring on more cash flow. He thinks the stock is cheap.

They are 9,200 boed and 71% natural gas. They are working at reducing debt and building a position in the Cardium area. He has a $2.40 per share target in the next 12 months and he holds it personally. Yield 0%. (Analysts’ price target is $1.75)

They produce oil in Colombia. He likes the balance sheet and the production growth. Management is educated in the region. He thinks this is a good holding for the energy space. They may be a good take out target in the future.

Western Canadian oil is not so much driven by Canadian investors, it is the global or even the US investor that incrementally pushes these things and where the money comes to do financing. We have so much oil and the US is so successful about Fracing that oil will probably go to $80-$85. If he…

Global pipeline coatings. As a Canadian we should all be very proud of this company. There are not many Canadian companies that are a world leader in what they do. Has held this as a Long position many times. The downside is that they are going through a rough patch right now. Management feels that…

(3 Top picks are in the energy services sector, a lagging indicator of oil/gas.) Supply a lot of equipment and manufacturing to the service side. Cheap. Has a lot of potential torque. Virtually debt free.

(A Top Pick Jan 05/18, Down 69%) He sold out of this when it became apparent oil prices were not going to finish above $70 per barrel by year end. He sold this at $4.25. They announced last week a divestiture making them debt free and it trades below book value. They have bought back…

He says this company is trading below book value, when historically it has traded at 2 times book. He still worries about low oil prices and how it impacts next quarterly earnings. He would buy this under $2.

Has a lot of admiration for the CEO, but the company walked into several sharp objects in 2017, and their credibility has been hit. It’s going to take some time to demonstrate their execution capability. For the time being, it is difficult to see the stock outperforming others. He would rather buy names that are…

WCP-T is a good mid-cap energy company, but he is not excited about the space right now. He is not looking to add in this environment, but when he returns WCP-T would be a great company. His largest holding is VET-T.

One of the 1st ones to unlock a zone in the Cardium, and now the industry is following them. Their results have been getting better and better and better. Production per share has been very, very strong. This is one that can compete with the US names.

(Market Call Minute.) Just acquired one of her junior companies and she intends to take the shares and hold.

(A Top Pick Apr 05/18, Down 42%) He got stopped out. Crude prices have not rallied, so the stock has not improved. Energy is great value at the moment, but this would not be his first entry back into the space.

Has come back to support levels. At this stage, he'd be a buyer. If you already hold it, you'd be careful, as you wouldn't want it breaking support.

It hit upon hard times with an extremely highly leveraged balance sheet, but management has kept the company alive. They have significantly de-risked the company but it has shrunk. The balance sheet is very much improved. This is a very high risk/high reward kind of play.

They did a good deal with VII-T. They build long term assets before the stock got beat up. It has recovered nicely. If the price of oil comes down then it is possible after the winter we could see lower prices of $4-5. Hold off and wait until about late Q2 of this year.

Has a propane division as well as heating oil in the US, as well as some chemicals. Sold their US construction distribution business, and the balance sheet is better because of that. With a colder weather in Western Canada, he expects them to have good results. Also, expects them to raise their dividend over time.…

His Top Picks today are speculative and high risk and fairly illiquid, so don't use "Market Orders". Early stage. Have a lot of exploration projects.

Main focus is a play in Northern Alberta, Esteem River (?). Have about 40 sections of land, which contain a lot of oil so wells they drill are very economic. Some of the wells have paid back in less than 6 months. Have more than 150 locations to drill in future. Broke even last quarter…

There is fierce competition in the entire food sector.

When they went public he thought it was a great concept – publically owned liquor stores, but it has not done much. Cannabis would give it a bit of a lift but for now it is an income play. You won’t make a lot of money. You can do better with a telco, pipeline or…

They make bikes, baby furniture, baby equipment, car seats, etc. The family that is involved in it owns a significant stake. He sees better days ahead. It is trading at a reasonable valuation. Dividend yield of about 4%.

A safe, defensive investment. They have 1,100 stores, so they're by far the leader in Canada which is less competitive than the US. The share price is down a lot, but is trading at 19X earnings now instead of the previous 30x. They could buy Dollar City in Latin America (an option for them in…

Sold his holdings as he felt the company wasn't sufficiently forthcoming. If you own, continue to hold for the long-term, three years. Fully priced.

His kids enjoy their toys, TOY's brands have fallen off quite a bit in the market and the new ones likely won't excite.

Growth rates have come down. It is a box office name. They have diversified but BO is still 75% of their revenues. in the end they are modeling 11% earnings growth. Trading at 19 times 2019 earnings. Dividend is safe-ish.

Retail markets is a tough area to be in right now so you should plan to hold for 5 years or more. Good quality retailer but will struggle with everybody else. About 8% dividend yield.

Uses natural gas to boost the efficiency of large engines. He has been hearing how great they are for at least 22 years. The company has done a really poor job in bringing out shareholder value. They like to raise money and have raised a lot over the years, but have never been profitable and…

An ETF that tracks Canadian crude oil prices. He predicts $35 West Texas crude. He would buy into dips below $40.

(A Top Pick July 8/13. Down 3.85%.) For people trying to collect dividends, preferred shares do sell off in the summer, especially in August but he thinks the selloff has been overdone. For fixed income portfolios, where you are not going to trade, but are going to hold them for perhaps 5 years, this is…

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

Has been beaten up and you are getting double gearing to basket of producers. You are not taking single company risks.

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…

The pain in the preferred share market was mostly the result of the huge number of Reset Preferreds that came onto the market within the last 5 years, so a lot of these preferreds did not reset their dividend for 5 years, and a lot of them did it this year because it was their…

The chart looks like an electrocardiogram, which is not all that enticing as an investor. He is currently 0% weighting in the energy patch. Uses this so that he is not exposed to any one particular name that could hurt him. He finds the energy space very frustrating.

Pays a pretty decent yield, currently at about 4.65%. Basically it holds the emerging-market bonds. You could easily make the argument that the bonds of these countries are going to become more and more worthy down the road because the countries are becoming more competitive, more productive and debt levels are coming down.

He likes the equal weight approach. He is looking for a trade here. You could see a bit of a lift on this one.

Will the rise in value of this ETF continue? The TD Bank and Bank of Montréal launched some structured products into the market that were linked to the payouts of the preferreds, and they were wildly successful. The demand for these preferreds went through the roof. He doesn’t think this is sustainable and he sold…

If you are looking for a growth story in Canada, not including energy, you'll have to look at midcaps. Avoids volatility.

The whole banking sector is quite positive. The chart shows a little head and shoulders. If it can break above $32, it would probably run away pretty nicely. He likes the whole financial sector. (See Top Picks.)

This started as a Western Canadian focused REIT and has expanded into the US. Their payout ratio is a little higher than others, but overtime this is an investment that will pay well and he has faith they will work to lower the leverage on the balance sheet. Yield 8.4%.

(A Top Pick Sep. 1/17, Down 6%) It had a nice yield but lost some altitude. Mall REITs have been doing this because of the AMZN-Q tsunami of the retail industry. They are mostly in Quebec now and it is the strongest province we have right now. CUF.UN-T is trading at a nice discount to…

It is a smaller cap REIT. The payout is high. Most of the earnings are US$ translated back to CAD$, which just appreciated over the last three months. The market is pricing this depreciation in the yield into the stock. He is not expecting a dividend cut, but it is a possibility. AIR B&B’s have…

Diversified commercial REIT. Relative to other names in the same space, it is reasonable value. Can continue buying properties at higher values because financing rates have come down. Came out with decent results and shot up over last 4 or 5 sessions.

PWF-T vs. POW-T. The parent vs. the subsidiary. He would go to PWF-T. We saw a bit of a pull back. He prefers the banking sector even more than these. He would not step into either one.

If you can't buy the coin directly this is a very interesting leveraged play. It is one of the biggest bit coin miners out there. Two years from now the net asset value of the company could double. (Analysts’ target: $7.85).

(Real estate lending) Getting equity like returns with a debt like structure. Have positive earnings per share now and just recently did a financing to build up their loan book. Down the road it is going to be a great little company. The people behind it are very well-heeled and probably are looking at this…

He has never invested in it. When the company was raising funds, it was doing so at sizable discounts, which caused some concern. He does not yet understand how this technology will play out, so they are sitting on the sidelines. He is not sure this company could be a long term sustainable crypto-miner. He…

On his Watch List and he might be buying soon. The oil/gas seismic is part of their business, but they have had more of a growth in the trucking area where they have a solution for fleet management and tracking. This adds a lot of efficiencies.

They now have over $1 billion in terms of the value of the gold on hand. You are buying physical gold that this company is storing for you. They are also growing globally. Thinks the growth rate is going to be quite fast. He is interested both in the stock and what they are doing.

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…

Feels the market has been improving for them a little bit lately, with the increasing activity in oil/gas and some of the mining sectors. A cyclical company. Right now it is probably a good company to own. Management would be pretty determined to retain their dividend. Yield of 6.8%.

He held this in the past. It looks dangerous. He would wait for it to get down to the $1.35 level. It is almost micro cap and these companies can run into problems. Use the 100 day moving average. (Analysts’ price target is $2)

They have been paying out too much in dividends so the book value has been slipping. It looks like the company is rolling over. The fair market value is 13% under where it is trading. He sees more downside than upside.

He does not buy companies that have not been around for 10 years. He does not dip into Marijuana stocks. You need to look at management and look at their track record. Many of these companies are going to fail.

His 2nd largest holding. Currently have a lawsuit underway against Saint-Gobain & Philips. Separate from the lawsuit, an analyst has a $4 target. If they are successful in the lawsuit, it could add another $1.25 to the stock.