Chris Fernyc
Portfolio Manager at Bissett Investment
Member since: Apr '05 · 21 Opinions
Rating
Big Win
Win
Neutral
Loss
Big Loss
Stock Opinions by Chris Fernyc
WAIT
A very interesting product. Market demand and feedback seems to be very positive. His big concern would be with valuation and validation of the business model. A little bit unsure as to where it's trading compared to what it's intrinsically worth. Would like to see 1/2 more quarters to see if the trend is truly stable.
oil
gas field services
BUY
A unique business model. They acquire seismic data and then licenses it back to exploration companies. Their library of data is pretty much 100% margin business. Now a trend for companies to go for more 3 dimensional seismic so they are having to invest in the new material. Still to be proven that their 3D library will have staying power.
oil
gas
TOP PICK
Over the last few years has tended to grow a very good market share of the fruit bar business. Long track record of profitability. Vary stable. Debt free with nearly $1 a share in cash. Imports some of their base products from the US, so a stronger Cdn$ is helpful. Presumes they will be consolidated by a larger company.
food processing
DON'T BUY
TOP PICK
A technology/drilling company. They only have a fleet of about 20 drilling rigs, they are the #1 driller in terms of the number of meters drilled and in the top 5 in terms of total due to their technology. They have a quicker, lower cost solution for coal bed methane and shallow gas drilling. Growing their fleet out by about 50% per annum.
oil
gas field services
TOP PICK
Part pharmaceutical and part drug development. Very profitable. Strong balance sheet and lots of cash flow. Generates about US$1.50 free cash flow every year. In a very stable gastro-intestinal market. They're also in-licence some drugs which gives them some pretty good upside. Trading at about US$14 with $1 a share free cash on the balance sheet.
biotechnology
pharmaceutical
TOP PICK
Thinks there's very solid upside over the next year and a half. If there's going to be media consolidation, this is an obvious target. Have 3 main assets, a 51% interest in a film distribution trust, a whole suite of specialty broadcast channels in Canada and 50% owners of the CSI TV series.
Broadcasting
Advertising