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Stock Opinions by Greg A. Taylor, CFA, BBA

COMMENT
Good play on global recovery with its iron ore, base metals, oil, etc. Has been under a lot of pressure lately with slowdown in China, global economy and Australian mining tax. Australia is talking about lowering the tax from 40% to 30% next year and the opposition parties are against it. Thinks this tax is priced into the stock. 2.68% dividend.
other mines
COMMENT
Has sold off a lot so is cheaper right now. A leverage to play towards coal and gold. 1.3% dividend.
Mining
BUY
One of the few companies that is actually working in this environment. Great company and hard to question anything they do. Haven't had a product stumble over the last few years but there is some question with the iPhone 4 launch. Perfect balance sheet with $40 billion in cash. Trading at 20X next year's earnings.
electrical / electronic
BUY
Gulf problems have highlighted how natural gas is probably the commodity that will win. Longer term it should start gaining share. Very conservative, safe way to play natural gas. Have done very well in managing their capital budget by hedging a lot of natural gas production at more than $6.
oil / gas
COMMENT
Potash and some of the agriculture commodities have come off on the theme of the China slowdown. Expected to be under pressure for the next few years. An interesting way to play this is to watch corn prices, which has been under pressure in the last few months.
integrated mines
BUY
Missed its quarter saw analysts took their targets lower so the bank lost its premium royalty. Fairly good value here. 4% dividend yield. May be a soft quarter coming up.
banks
COMMENT
Put up some decent numbers but the multiple keeps compressing. Viewed as a levered play on equity markets and there are concerns about more equity issues to keep ratios in line. For safety go to Royal Bank (RY-T) but for a leverage play on the market you can go to this one.
insurance
COMMENT
Been under pressure recently because of possible Congress regulations on interest charges, which could affect growth. Put up some good quarters, so probably a fairly good, long-term Buy but you get exposure to the US financial sector and US consumer.
other services
PAST TOP PICK
(A Top Pick July 22/09. Down 22%.)
agriculture
PAST TOP PICK
(A Top Pick July 22/09. Up 16.21%.)
oil / gas
PAST TOP PICK
(A Top Pick July 22/09. Up 103.4%.) Locked in his gains.
metal mines
TOP PICK
Last few quarters have been OK but have been late getting some products out and the street has lost all confidence in management. Trading under 8X earnings. If they execute and get some of their new products out in the 2nd half of the year, get confidence back on their operating system, and it should get back closer to the market multiple.
electrical / electronic
TOP PICK
Good, safe play on the global tech story. Trading at under 10X earnings and has a 3.5% dividend yield. A lot of the CapX has been done so margins should expand over the next few years. Good play on global technology growth.
electrical / electronic
TOP PICK
Dollarama Canadian stores. Non-resource growth company. Not a lot of competition. Their core is in Ontario and Quebec and are working on growing out West.
Consumer Products
BUY
A play on a lower demographic area and should benefit in slower times.
department stores
Showing 1 to 15 of 151 entries