Opinions by Michael Giordano | StockChase
339
Michael Giordano

VP Investments & Portfolio Manager

ON STOCKCHASE SINCE May 2012



Opinions by Michael Giordano


Signal Opinion Expert Chart

2013-11-18

N/A
A Comment -- General Comments From an Expert 

Markets. Resources continue to underperform.  This is a reflection of the general economy.  Low interest rates should filter down to the resources and have a beneficial effect.  Europe is coming back from a two year slow down.  Was positive one quarter ago.  It will bounce around here for a bit, but lowering of interest rates should bode well, so it has bottomed.  $100 plus for oil one year plus.

Michael Giordano

VP Investments & Portfolio Manager, 

Price: $0.020
Owned: _N/A

Must be logged in to use chart

2013-11-18

N/A
A Comment -- General Comments From an Expert 

Silver.  Thinks it will be challenged here.  Investment demand is the key driver of demand and it is declining.  Industrial demand is picking up.  Longer term it should go up to $22-24, however.  Be careful in this space short term.

Michael Giordano

VP Investments & Portfolio Manager, 

Price: $0.020
Owned: Unknown

Must be logged in to use chart

2013-11-18

BUY
Alamos Gold Inc (AGI-T)

Gold producer in Mexico.  Efficient operator.  Mexico is a good jurisdiction.  It is tied to the price of gold, which will be challenged short term.  Mid to long term it could be up 10% in a year or two.

precious metals
Michael Giordano

VP Investments & Portfolio Manager, 

Price: $14.060
Owned: Unknown

Must be logged in to use chart

2013-11-18

TOP PICK
Axiall Corp (AXLL-N (Acquire)

Will benefit from low feed stock prices going on in North America.  Nat Gas goes into manufacturer of their plastics, chemicals, resins and then ultimately building products.  Low input costs and healthy demand for their products for the recovery in the US housing prices.  A play on housing AND Nat Gas.  1.5% dividend.

INDUSTRIAL PRODUCTS
Michael Giordano

VP Investments & Portfolio Manager, 

Price: $44.240
Owned: Yes

Must be logged in to use chart

2013-11-18

BUY
Bellatrix Exploration Ltd. (BXE-T)

(Market Call Minute) In process of buying Angle Energy but they have deep pockets with their Korean investors.

oil/gas
Michael Giordano

VP Investments & Portfolio Manager, 

Price: $6.790
Owned: Yes

Must be logged in to use chart

2013-11-18

BUY
Cliffs Natural Resources (CLF-N)

He just took a position last week.  Likes outlook on met coal and metals.  China should be positive for these producers.

Mining
Michael Giordano

VP Investments & Portfolio Manager, 

Price: $27.500
Owned: Yes

Must be logged in to use chart

2013-11-18

WEAK BUY
Canadian Oil Sands (COS-T (Acquired)

Price of crude has the most impact on oil sands.  This will move with the price of oil.  Decent dividend of 6.6%.  Prefers other oils in his top picks today. 

oil/gas
Michael Giordano

VP Investments & Portfolio Manager, 

Price: $21.050
Owned: Unknown

Must be logged in to use chart

2013-11-18

HOLD
Copper Fox Metals (CUU-X)

Tech Resources is going to fully fund their project called Shaft Creek.  Stock got beaten over concern how they would fund it before Tech stepped in.

metal mines
Michael Giordano

VP Investments & Portfolio Manager, 

Price: $0.440
Owned: Unknown

Must be logged in to use chart

2013-11-18

BUY
ENTREC Corporation (ENT-T)

(Market Call Minute) Pulled back nicely.  Mover of heavy equipment in Western Canada and will benefit as LNG and oil sands production increases.

Michael Giordano

VP Investments & Portfolio Manager, 

Price: $1.450
Owned: No

Must be logged in to use chart

2013-11-18

PAST TOP PICK
First Quantum Minerals (FM-T)

(Top Pick Oct 9/12, Down 8.73%) Discount is sufficient for him to step into this name here.

integrated mines
Michael Giordano

VP Investments & Portfolio Manager, 

Price: $18.850
Owned: Yes

Must be logged in to use chart

2013-11-18

BUY
Canyon Services Group (FRC-T (Dead))

Specialized oil services company.  Pull back a little but mid to long term this is a good company to be in because Fracking activity should increase.  The LNG rush that should happen in the next 3-5 years should benefit them.

oil/gas field services
Michael Giordano

VP Investments & Portfolio Manager, 

Price: $10.930
Owned: Unknown

Must be logged in to use chart

2013-11-18

HOLD
Hudbay Minerals Inc. (HBM-T)

Got beaten up with the copper stories.  Operations continue to do well and generate excellent cash flows.  New Peru mine is going to be a large producer in one to two years.  Downside is pretty minimal at this point.

precious metals
Michael Giordano

VP Investments & Portfolio Manager, 

Price: $7.930
Owned: Unknown

Must be logged in to use chart

2013-11-18

BUY
Inter Pipeline (IPL-T)

In process of expanding pipeline capacity at the oil sands.  Thinks that its growth is not all priced in right now.

oil pipelines
Michael Giordano

VP Investments & Portfolio Manager, 

Price: $26.050
Owned: Unknown

Must be logged in to use chart

2013-11-18

BUY
Legacy Oil and Gas Inc. (LEG-T (Dead))

(Market Call Minute) Western Canada oil producer, all light oil.  Prefers some others slightly better.

oil/gas
Michael Giordano

VP Investments & Portfolio Manager, 

Price: $6.450
Owned: No

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2013-11-18

HOLD
Largo Resources Ltd. (LGO-T)

Has a deposit in Brazil very close to production.  Continues to be challenged here.  You have to hang in with this one.  Small cap so high risk.

metal mines
Michael Giordano

VP Investments & Portfolio Manager, 

Price: $0.230
Owned: Unknown

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2013-11-18

SELL
Labrador Iron Mines Holdings Ltd. (LIM-T (Dead))

Such a small mine that they can’t get the cost down to a reasonable amount so they aren’t making any money.  Investors are selling.

metal mines
Michael Giordano

VP Investments & Portfolio Manager, 

Price: $0.240
Owned: Unknown

Must be logged in to use chart

2013-11-18

TOP PICK
Long Run Exploration (LRE-T (Dead))

Likes dividend plus growth assets.  25,000 bpd producer.  Various Western Canada locations.  Dividend 7.7% yield, just announced and under 100% payout.  Have streamlined their spend to accommodate the dividend model.

oil/gas
Michael Giordano

VP Investments & Portfolio Manager, 

Price: $5.340
Owned: Yes

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2013-11-18

COMMENT
Lightstream Resources (LTS-T (Delisted)

15.5% dividend because of high debt level.  Production is strong.  May have to tweak the dividend because payout ratio is about 130%.

oil/gas
Michael Giordano

VP Investments & Portfolio Manager, 

Price: $6.130
Owned: Unknown

Must be logged in to use chart

2013-11-18

BUY
Lundin Mining Corp. (LUN-T)

Likes it.  Able to pick and choose assets.  Mines they currently operate have a very low cash cost.

metal mines
Michael Giordano

VP Investments & Portfolio Manager, 

Price: $4.390
Owned: Unknown

Must be logged in to use chart

2013-11-18

DON'T BUY
Obsidian Energy (OBE-T)

In the process of right sizing itself.  Selling assets to pay down debt.  Other companies have done this successfully, however these guys have not done it well at all, given the performance of the stock.  Better companies to be in.  We are 6 months away from knowing where they are going to be.

oil/gas
Michael Giordano

VP Investments & Portfolio Manager, 

Price: $8.510
Owned: Unknown

Must be logged in to use chart

2013-11-18

HOLD
Renegade Petroleum Ltd. (RPL-X (Dead))

Main driver is that it is under strategic review so will sell either part or all of itself.  They are over 100% payout ratio so it would be good if they cut it.

Oil and Gas (Integrated Oils)
Michael Giordano

VP Investments & Portfolio Manager, 

Price: $0.990
Owned: Unknown

Must be logged in to use chart

2013-11-18

BUY
Raging River Exploration (RRX-T)

(Market Call Minute) Viking oil producer.  Made a recent acquisition and is growing nicely and has excellent net backs at these oil prices.

Oil and Gas (Integrated Oils)
Michael Giordano

VP Investments & Portfolio Manager, 

Price: $6.140
Owned: Yes

Must be logged in to use chart

2013-11-18

BUY on WEAKNESS
Spyglass Resources Corp (SGL-T (Delisted)

14.2% dividend.  There was some concern about the high dividend.  High debt levels, plus lower cash flows mean that they should lower the dividend so they can meet their debt obligations.  Short term it could take a hit but longer term it should do well. 

oil/gas
Michael Giordano

VP Investments & Portfolio Manager, 

Price: $1.880
Owned: Unknown

Must be logged in to use chart

2013-11-18

SPECULATIVE BUY
Stornoway Diamond (SWY-T)

It is hard to finance junior diamond miners.  But once they line up all the partners, thinks this could be a potential mine, but high risk.

precious metals
Michael Giordano

VP Investments & Portfolio Manager, 

Price: $0.810
Owned: Unknown

Must be logged in to use chart

2013-11-18

BUY
Twin Butte Energy (TBE-T (Not list)

(Market Call Minute) Recent acquisition has lowered their payout ratio and increased net backs.  Lowered percentage of heavy oil to light oil.

oil/gas
Michael Giordano

VP Investments & Portfolio Manager, 

Price: $2.210
Owned: Yes

Must be logged in to use chart

2013-11-18

BUY
Teck Resources Ltd. (B) (TECK.B-T)

Has some leverage in the oil space now.  Buy given the outlook on global economies.  Demand for Copper and Met Coal will pick up from here.  Dividend is safe.

precious metals
Michael Giordano

VP Investments & Portfolio Manager, 

Price: $27.170
Owned: Unknown

Must be logged in to use chart

2013-11-18

TOP PICK
Torc Oil & Gas Ltd (TOG-T)

5500 bpd growing to 9500 bpd production through an acquisition.  A nice combination of dividend payer and growth model.  He is confident in the management.

oil/gas
Michael Giordano

VP Investments & Portfolio Manager, 

Price: $10.230
Owned: Yes

Must be logged in to use chart

2013-11-18

PAST TOP PICK
Whitecap Resources (WCP-T)

(Top Pick Oct 9/12, Up 59.74%) Continues to be a core holding, healthy dividend.  Buying companies on the cheap.  Continue to get oil out of the ground from these companies.  Down right now because of oil but thinks it will come back.

Oil and Gas (Integrated Oils)
Michael Giordano

VP Investments & Portfolio Manager, 

Price: $11.660
Owned: Yes

Must be logged in to use chart

2013-11-18

HOLD
Western Potash (WPX-T (Dead))

(Market Call Minute) Hold until they get the financing.

Mining
Michael Giordano

VP Investments & Portfolio Manager, 

Price: $0.390
Owned: No

Must be logged in to use chart

2013-11-18

PAST TOP PICK
Yamana Gold Inc. (YRI-T)

(Top Pick Oct 9/12, Down 45.61%)  Gold has been a challenge to trade.  The lack of inflation has depressed gold.  There are better places to put your money but to be in the space, this is one of the better names to be in.

precious metals
Michael Giordano

VP Investments & Portfolio Manager, 

Price: $9.550
Owned: Yes

Must be logged in to use chart

2013-10-08

N/A
A Comment -- General Comments From an Expert 

Economy. IMF lowered their growth outlook for the global economy from 3.1% to 2.9% for 2013 and 3.20% to 2.6% for 2014. This is because of the Washington induced uncertainty that has come out which is creating uncertainty globally. This is not the 1st time that Washington has had challenges in terms of debt ceilings or budgets. If the market sells off between 3%-7%, it is a healthy level to get back in.

Michael Giordano

VP Investments & Portfolio Manager, 

Price: $0.020
Owned: _N/A

Must be logged in to use chart

2013-10-08

N/A
A Comment -- General Comments From an Expert 

Crude oil. Believes $103 price is sustainable. Geopolitical tensions (Syria) pushed the prices north of $110 a barrel and then once the Russians and Syria struck a deal so that the US would not invade, the price pulled back to $103 level. $95 to $105 level is healthy for oil. As global economies recover this bodes well for oil.

Michael Giordano

VP Investments & Portfolio Manager, 

Price: $0.020
Owned: _N/A

Must be logged in to use chart

2013-10-08

BUY
Canada Carbon Inc (CCB-X)

Likes the graphite space quite a bit. There is a move towards using graphite in electric vehicles and batteries, so the space is doing quite well. Have 4 deposits in Ontario with good proximity to infrastructure. Excellent management team.

Mining
Michael Giordano

VP Investments & Portfolio Manager, 

Price: $0.240
Owned: Yes

Must be logged in to use chart

2013-10-08

HOLD
Coastal Energy (CEN-T (Dead2))

Thailand-based producer of onshore and offshore oil. Producing about 20,000-25,000 barrels a day so are generating excellent cash flows because they get Brent pricing. About a year ago, a Thailand-based company was interested in them and recently there are rumours that a Hong Kong-based company is also interested. They are looking at a price of around $21 but he thinks the assets are worth $21-$25.

oil/gas
Michael Giordano

VP Investments & Portfolio Manager, 

Price: $18.210
Owned: Unknown

Must be logged in to use chart

2013-10-08

WAIT
Emera Inc (EMA-T)

Good name. They are in utilities. Nova Scotia utility is their main asset, but they also have pipelines in the East Coast. They are making an acquisition of New England Power of about $540 million, so the short-term concern is that they may have to come to the market to make an equity issue. An equity issue would be the time to step into this name.

mngmnt/diversified
Michael Giordano

VP Investments & Portfolio Manager, 

Price: $29.370
Owned: Unknown

Must be logged in to use chart

2013-10-08

PAST TOP PICK
First Quantum Minerals (FM-T)

(A Top Pick Oct 9/12. Down 15.26%.)

integrated mines
Michael Giordano

VP Investments & Portfolio Manager, 

Price: $17.550
Owned: Yes

Must be logged in to use chart

2013-10-08

HOLD
Fortis Inc. (FTS-T)

Likes this as a utility play. Natural gas utility in BC and have a number of other assets, including real estate and Caribbean utilities as well. They’ll get paid because they generate the power electricity and get paid by contract. They’ll have to fund the acquisition of the New York company but the markets are healthy for equity issues these days. 4% dividend yield. Could flirt with $35 in the next year.

electrical utilities
Michael Giordano

VP Investments & Portfolio Manager, 

Price: $30.940
Owned: Unknown

Must be logged in to use chart

2013-10-08

TOP PICK
Gibson Energy (GEI-T)

Likes the services to the oil and gas companies. With the total CapX programs, about $250 million this year, it will result in additional cash flows.

pipelines
Michael Giordano

VP Investments & Portfolio Manager, 

Price: $24.430
Owned: Yes

Must be logged in to use chart

2013-10-08

HOLD
Lightstream Resources (LTS-T (Delisted)

Believes they have some of the best assets in the Alberta region in their Cardium lands, as well as in Saskatchewan in the Bakken. Dividend yield is something like 13% and this is because they have a very high debt level of about $2.2 billion, which represents about 3.4X debt to cash flow. They have a 90% investment in Trial (?), which is going to be taken over by a Polish company which should help to pay down the debt.

oil/gas
Michael Giordano

VP Investments & Portfolio Manager, 

Price: $7.310
Owned: Unknown

Must be logged in to use chart

2013-10-08

TOP PICK
Trinidad Drilling Ltd (TDG-T)

Rigs in be moved from one area to another. As much as 60% of the contracts are long-term “take or pay” and are positioned in high demand areas. Recently entered Saudi Arabia on a joint venture.

oil/gas field services
Michael Giordano

VP Investments & Portfolio Manager, 

Price: $10.180
Owned: Yes

Must be logged in to use chart

2013-10-08

COMMENT
Teck Resources Ltd. (B) (TECK.B-T)

This is one of his favourite holdings in mining. Diversified with exposure to both copper and met coal and they also have some oil sand leases with their interest in the Fort Hills. This is tied to the global economy. The Chinas of the world continue to grow. They are growing at 7.5% per year, compared to 10% before, however it is still absolute growth.

precious metals
Michael Giordano

VP Investments & Portfolio Manager, 

Price: $26.560
Owned: Yes

Must be logged in to use chart

2013-10-08

BUY
Trilogy Energy Corp (TET-T (Dead))

Likes this name. Big in the Duvernay lands in the deep basin of Alberta. Recently raised a couple of hundred million. Producing over 20,000 barrels per day of oil and gas. Because of the hot Duvernay, he thinks they are in the right spot with the right pockets. Can see this in the mid-$30s in 12 months.

oil/gas
Michael Giordano

VP Investments & Portfolio Manager, 

Price: $27.650
Owned: Unknown

Must be logged in to use chart

2013-10-08

BUY
Talisman Energy (TLM-T (Dead))

It’s a sign of the times that US investors are finally seeing some of the opportunities in Canadian energy names. This has a bunch of assets globally, including Canada with their Duvernay/Montney along with the UK North sea. The prize is the Southeast Asian assets that they have. If this goes, it will go at North of $15.

oil/gas
Michael Giordano

VP Investments & Portfolio Manager, 

Price: $12.890
Owned: Unknown

Must be logged in to use chart

2013-10-08

TOP PICK
Vermilion Energy Inc (VET-T)

Likes its operations in Canada, Australia and Western Europe, particularly because of the international diversification. Dividend yield of 4.6%. Simple payout ratio of 35%. The “all in payout ratio” is at 100% and allows for better cash flow as well as stable and reliable growth in dividends.

oil/gas
Michael Giordano

VP Investments & Portfolio Manager, 

Price: $56.940
Owned: Yes

Must be logged in to use chart

2013-10-08

PAST TOP PICK
Whitecap Resources (WCP-T)

(A Top Pick Oct 9/12. Up 58.99%.)

Oil and Gas (Integrated Oils)
Michael Giordano

VP Investments & Portfolio Manager, 

Price: $11.860
Owned: Yes

Must be logged in to use chart

2013-10-08

PAST TOP PICK
Yamana Gold Inc. (YRI-T)

(A Top Pick Oct 9/12. Down 41.87%.) 2.7% dividend yield.

precious metals
Michael Giordano

VP Investments & Portfolio Manager, 

Price: $9.940
Owned: Yes

Must be logged in to use chart

2013-08-14

N/A
A Comment -- General Comments From an Expert 

Economy. Was very excited when Europe just announced that they had finally gotten out of a recession after a 2 year slowdown. Also, US economy is motoring ahead both with housing sales at a five-year high and good auto sales. That bodes well for the global economy. China, on the other hand, has dictated to the market that it is more comfortable with a 7% to 8% growth, even though that is down from their high of 10% before. Therefore, world economies are doing well, which justifies the move there has been in the market.

Michael Giordano

VP Investments & Portfolio Manager, 

Price: $0.020
Owned: _N/A

Must be logged in to use chart

2013-08-14

N/A
A Comment -- General Comments From an Expert 

Resources. It is time to take a bit of risk and dip your toes in. Economies are doing well and therefore this will require a lot more energy to run the economies and a lot more base metals to construct houses, manufacture autos, etc. The materials sector, year to date, is down a whopping 28%-30%. Energy sector is basically flat. He sees investors shifting into the more cyclical plays. Even in the past 2 weeks, the TSX has outperformed the Dow and S&P, which is a reflection that investors are looking at the energy sector and materials sector. Best opportunities are found in companies that have a global scale. For example, Mexico is looking to expand their oil/gas operations. Companies with a global platform are able to put their money’s into different countries to capitalize on the opportunities.

Michael Giordano

VP Investments & Portfolio Manager, 

Price: $0.020
Owned: _N/A

Must be logged in to use chart

2013-08-14

COMMENT
Argonaut Gold (AR-T)

Have 2 producing mines, both in Mexico and producing about 100,000 ounces of gold per year. In order to expand and diversify, they bought Prodigy Gold with a major asset in northern Ontario so there are growth assets in Mexico and North America.

Mining
Michael Giordano

VP Investments & Portfolio Manager, 

Price: $8.220
Owned: Yes

Must be logged in to use chart

2013-08-14

HOLD
Arc Resources Ltd (ARX-T)

Gas weighted and has been affected by the lower natural gas prices that are realized in Canada. US has enough natural gas that they don’t require as much import from Canada. That, coupled with the tolling that pipelines have been charging, makes it harder to get natural gas out of Canada. As a natural gas company it is a good one to hold onto. Nice 5% yield and generates good cash flows. Have hedged out nat gas prices at well north of $4.

oil/gas
Michael Giordano

VP Investments & Portfolio Manager, 

Price: $25.550
Owned: Unknown

Must be logged in to use chart

2013-08-14

COMMENT
Athabasca Oil Sands Corp (ATH-T)

The Keystone pipeline is secondary to what this company is doing. Have a bunch of oil sand assets, mostly in Alberta, which they are able to extract value from. Recently sold off a joint venture interest to PetroChina and waiting for ultimate approval of Dover. That way they can put the asset to PetroChina in exchange for $1.3 billion cash, which amounts to about $3.25 per share. Have good assets which they are going to joint venture as well.

oil/gas
Michael Giordano

VP Investments & Portfolio Manager, 

Price: $7.970
Owned: Unknown

Must be logged in to use chart

2013-08-14

COMMENT
Champion Iron Limited (CIA-T)

A junior iron ore exploration company that operates in the Labrador trough in Northeast Québec/Western Labrador. Canadian National (CNR-T) announced they were not going to go ahead with the expansion of a rail line. Companies like this were dependent on that rail line to get their material out. Alternatives now include having to cut a deal with existing rail lines. Properties are fine, but with a lack of infrastructure and weakness in iron ore prices the stock was clobbered, it’s a Hold at best.

Mining
Michael Giordano

VP Investments & Portfolio Manager, 

Price: $0.225
Owned: No

Must be logged in to use chart

2013-08-14

TOP PICK
Computer Modelling Group Ltd (CMG-T)

Basically an international computer software and consulting company that is able to simulate the reservoirs for oil/gas companies giving precise locations for drilling. Has grown about 20% per year in the past and he is expecting 12%-15% growth. Yield of 2.94%.

computer software/processing
Michael Giordano

VP Investments & Portfolio Manager, 

Price: $24.400
Owned: Yes

Must be logged in to use chart

2013-08-14

TOP PICK
Canadian Natural Rsrcs (CNQ-T)

Oil/gas company with international operations, both in the North Sea and West Africa. The Canadian operations in the oil sands continue to generate excellent returns. 10th consecutive year that they have increased production. Had a hiccup when the Primrose East had seepage from their cyclic steam operations. This caused a $3.5 billion hit on their CapX. One of the largest reserve bases in its group. Yield of 1.62%. Price to cash flow is very cheap at 5.1X compared to 6.1X of the comp.

oil/gas
Michael Giordano

VP Investments & Portfolio Manager, 

Price: $31.160
Owned: Yes

Must be logged in to use chart

2013-08-14

BUY
Canadian Oil Sands (COS-T (Acquired)

(Market Call Minute.) With oil prices north of $100, this only needs $75 oil to break even. Spinning out cash flows.

oil/gas
Michael Giordano

VP Investments & Portfolio Manager, 

Price: $20.480
Owned: Yes

Must be logged in to use chart

2013-08-14

BUY
Colossus Minerals Inc. (CSI-T (Dead))

They have the large Serra Pelada platinum group metals/gold mine in Brazil which is probably 90% complete in terms of getting up and running. Will be producing a lot of high density metals as well as gold. Likes this company.

precious metals
Michael Giordano

VP Investments & Portfolio Manager, 

Price: $0.800
Owned: Yes

Must be logged in to use chart

2013-08-14

BUY
Copper Fox Metals (CUU-X)

Teck Resources (TCK.B-T) have exercised their option on the Shaft Creek deposit in BC so they can let them pay for the continuation of the development. This company has a large resource and a partner with deep pockets.

metal mines
Michael Giordano

VP Investments & Portfolio Manager, 

Price: $0.610
Owned: Unknown

Must be logged in to use chart

2013-08-14

BUY
Duluth Metals Ltd. (DM-T (dEAD))

(Market Call Minute.) Major operations in Minnesota. Platinum group metals based precious metals.

precious metals
Michael Giordano

VP Investments & Portfolio Manager, 

Price: $1.300
Owned: No

Must be logged in to use chart

2013-08-14

BUY
Denison Mines Corp (DML-T)

Uranium company focused in the Athabasca region of northern Saskatchewan. Own 22% of an operating mill. Cleaned up the company by selling all their US assets and focusing just in Canada. Priming itself to be a producer. Likes this name. We need higher uranium prices for the entire sector to pick up.

non-base metal mining
Michael Giordano

VP Investments & Portfolio Manager, 

Price: $1.260
Owned: Yes

Must be logged in to use chart

2013-08-14

PAST TOP PICK
Encana Corp (ECA-T)

(A Top Pick August 3/12. Down 14.1%.) Has a new CEO. Natural gas prices have dropped precipitously since last year but, this is the 3rd largest natural gas producer in North America. Have cleverly hedged 75% of their production at well over $4. Also, instituted cost cuts of about $100 million per year. 9% of their production is in more oily names, which generates 30% of cash flow. Still likes.

oil/gas
Michael Giordano

VP Investments & Portfolio Manager, 

Price: $18.090
Owned: Yes

Must be logged in to use chart
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