Weekly 52-Week Low (or 52-Week High): BSX-T, TBL-T, IB-X, GOLD-T and More 52-Week Highs and Lows (Jun 25-Jul 01)

Opinion about ARG-T: Trevor Rose’s Insights - Trevor’s most-liked answers from 5i Research We think ARG is doing the right things. Debt was an issue in prior cycles, and it has cut/eliminated its dividend in the past. Now, it is in strong financial shape and very cheap at 8X earnings. It has been cash flow…

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 CCO-T: Likes uranium, the world needs more, and Canada has lots. The world particularly likes uranium from geopolitically stable countries.

Opinion about FM-T: Looking at it with renewed interest. Political situation has changed, license may be reinstated. That's critical to this company going forward, but also critical for Panama. Multi-decade reserve life, produces 1.5% of world's copper. Cautiously optimistic. Potential outsized upside for a risk-hungry investor.

Opinion about HBM-T: Copper and gold. Significant FCF. Market's waiting to see what happens with its massive copper project in Arizona. Will probably need to find a partner on this one, would boost production by 50%. He hopes for shovels in the ground in 2026, then 2-3 years before first production comes online.He's watching it…

Opinion about NDM-T: Embroiled in environmental issues. But new life under the Trump administration, so all bets are off. Gold and copper in Alaska. Stock's almost tripled since the election. Current project is massive, ~$6B. Nice to be able to get permitting, but how are they going to finance it?

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

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

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

Opinion about KLD-X: (A Top Pick Jul 19/24, Up 73%) Just this week announced a new discovery, too early to say if it will be economic. So it has one discovery in the bag and two in the mail, which is unusual. Because it uses other people's money for exploration, it's not on the share…

Opinion about FWZ-X: Trevor Rose’s Insights - Trevor’s most-liked answers from 5i Research The company claims to have the highest grade deposit of tungsten in the world, in Canada (Yukon and NWT), so in a safe jurisdiction. But as a developer it has no revenue, losses and negative cash flow. It does have $37M cash,…

Opinion about BBD.B-T: (A Top Pick Jun 21/24, Up 28%) Gaining altitude. Technological leadership in medium- and long-range aircraft. Order book looks pretty robust, production slate is full. After-market parts and service provide stable revenue. Airplanes can be repurposed for military use, and Canada's recently upped defense spending commitments.Long and complex supply chain, and tariffs…

Opinion about BDGI-T: In an excellent position. Most operations are in US. Business is really booming. US election gave management clarity on how to allocate capital. Despite tariff concerns, what they're making is long-term, critical investments. If it stays cheap, possible takeout by private equity or a strategic acquisition.

Opinion about CLS-T: Already trading 30% above what analysts think it's worth a year from now. In momentum mode. If you're going to trade and buy at the breakout here, you have to be very sensitive to a correction at some point as seen in the chart in February. That's the environment we're in when…

Opinion about EIF-T: Really likes the name, good business. Making all-time highs, expensive here. Doing all the right things, growing its dividend. Often the only airline in a Northern Canada region, so it's a monopoly. Owner/CEO is the real driving force, and she wants more clarity on the continuity plan. Yield is 4.2%.

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

Opinion about 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 AGF.B-T: Over the decades, they made poor acquisitions and should have accepted buy-out offers. It's now a shadow of itself, though is well run and generates cash. The only way to maximize value is to sell it (or raise the dividend each year).

Opinion about BK-T: Only downside is the fee. Just like an ETF, there are more holdings in the wrapper. For a small account, it makes sense. For a larger account, just buy the banks individually. You have to read the prospectus to see what the fee level is to see if it's worth it for…

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

Opinion about DF-T: Dividend 15 Split Corp. (DFN-T) or Dividend 15 Split Corp. II (DF-T)? Both are Split shares. The preferred share is the low risk preferred share dividend. He wouldn’t buy both, because you are looking for either growth or income. He would use one or the other and build that in your portfolio.

Opinion about DFN-T: These split shares company give you some leverage. The total return over 20 years has been 8% vs. the TSX which has done no better. Has some good dividends here, but is volatile--when the market goes bad, this really goes bad. 

Opinion about DGS-T: Very concentrated stock portfolio, leverage of 2:1. Pays out a lot in income. A bit of smoke and mirrors here, but not in a nefarious way. Twice as volatile in general as underlying markets. When things are good, they're really really good. And when things are bad, they're really really bad.If you're…

Opinion about EFN-T: Company based on effective management of auto fleets for corporate accounts. New apps and technology is allowing for better management of business. Recent share price strength good for long term investors - but would wait to buy on weakness. Overall a strong business. 

Opinion about FFN-T: Leverage allows them to provide such a large dividend. Typically 2:1 leverage, so you get double the bang for the buck. Lots of volatility, big ups and big downs. When markets are working, work great. Up to the board of the fund as to what distribution they pay out.Over 20 years, you'd…

Opinion about FTN-T: Leverage allows them to provide such a large dividend. Typically 2:1 leverage, so you get double the bang for the buck. Lots of volatility, big ups and big downs. When markets are working, work great. Up to the board of the fund as to what distribution they pay out.Over 20 years, you'd…

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 LBS-T: LBS vs. FTN An interesting structure, but they have their own at his shop. One is a play on ENB. Very optimistic about the potential for ENB to continue raising its dividend. He also has a real estate split with a mix of long-term value REITs and industrial exposure to access the…

Opinion about NA-T: Probably warrants a fresh look in the wake of its merger with CWB, a fantastic and very synergistic deal. Makes it a scale player nationally with lots of cross-selling opportunities. Capital markets business is excellent. Reports mid-week next week. Small business in Cambodia has been tricky, but not enough to move the…

Opinion about PIC.A-T: This fund has 5 banks, and they split the capital shares, and the preferreds represent the dividends. A very good income producing pick, because it is about a 6% yield. If you think banks are going to continue to go up, which he does, you will continue to get a high dividend.

Opinion about SII-T: A play on natural resources. Believes we're in a precious metals bull market. This name is a financial services brand name for gold and silver (as well as for uranium). Also active in many other materials, including the Sprott Physical Uranium Trust. Expanding from precious metals to the whole natural resources complex.Assets…

Opinion about TD-T: Will have to work through the pessimism of US blunder. The discount on that was excessive. Will continue to make good ROE and drive the business forward, regardless of whether the Canadian economy slows down in the next year or two.

Opinion about KXS-T: An excellent tech company, one of the few tech stocks up this year because their products are in demand now. Margins are already improving. Will announce a new CEO soon which will be another catalyst. They have the best technology but sales execution was weak, but they can fix this. Is a…

Opinion about MDA-T: Friday saw NASA cut funding for a lot of space programs, significant impact on MDA. On his radar. Really impressive contract wins, revenue growing pretty quickly, sector's been hot. He's invested in companies that depend on government and has been burned before. Be careful.

Opinion about MSFT-NE: Buying the dip. The bottom came out of the group recently, and people abandoned the thesis. But it was just a short-term aberration. Solid company. AI buildout just gets better for this company. Yield is 0.7%.If he's going to get decent growth on this stock, doesn't want it negated by any movement…

Opinion about NVDA-Q: Used to make 75% gross margins, but those have jumped to 90%. If it goes back to historic gross margins, even if sales continue, you'll see a huge degradation in profit. Sweet spot in terms of demand. Market thinks it can do no wrong. Worries that demand will abate or just normalize.…

Opinion about MFI-T: She's anticipating economic weakness, hesitant even on the consumer staples space. Consumers in Canada have seen a lot of price increases in the last 24 months; spending same $$, but taking home less. Questions ability to continue to pass on those price increases. 

Opinion about PET-T: (A Top Pick Nov 12/24, Up 24.2%)Stockchase Research Editor: Michael O'Reilly Our PAST TOP PICK with PET has achieved its target at $32.  To remain disciplined, we recommend covering half the position at this time and maintaining the stop at $26.

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 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 TNZ-T: Trevor Rose’s Insights - Trevor’s most-liked answers from 5i Research TNZ reported Q3 EPS at $0.71 which beat analysts’ estimates of $0.007. Revenue came in below forecasts of $16.6M at $15.05M, nearly doubling year-over-year. Fund flow from operations (FFO) was $4.8M or $0.16 per diluted share versus the same period a year…

Opinion about ZDC-X: Trevor Rose’s Insights - Trevor’s most-liked answers from 5i Research ZDC is a high risk but high growth company with analysts expecting the top-line to grow by 73% in 2025. At 6X forward sales, some of this growth is priced in but regardless, the company has some tailwinds behind it. The company…

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 IB-X: Had owned this in the past. They operate in an interesting area and have a very interesting alloy, a combination of aluminum and others. They can make and cast extreme precision parts. The company expects to be profitable in the next couple of quarters. Have done a lot of things to improve…

Opinion about SGML-X: Trevor Rose’s Insights - Trevor’s most-liked answers from 5i Research The sector has rolled over somewhat with concern on slowing EV sales globally. It still has negative cash flow but we admit it is getting interesting for those who like the sector and have some patience. We do not like the executive…

Opinion about GOLD-T: Well-run. When the gold price moves, this will too. Own it if you believe this will happen and are patient. Long-term.

Opinion about DM-X: It is now focusing on Mobile EV charging. It had previously sold Covid test kits. Has a $32 million market cap. It is a difficult business to make money in, is not profitable, and there are better options. (Analysts’ price target is $0.12)

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

Opinion about LCX-X: A small cap with no buyers. He owns 10% of the company. The stock has been creamed, even though they did everything they promised. They could sell the company and he strongly wants that. The team has done nothing wrong, but small-cap energy in Canada is dead.

Opinion about RECO-X: A $1.3B market cap with no test rate from a well. There is also geopolitical risk. Wouldn't invest in this when there are better opportunities in Canada. There could be some hype but what are you getting for really? Too risky.

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…