DON'T BUY
The price reflects the perception of the market in regards to their properties and payouts. He doesn't see any immediate problems, but if there is a hit in commodity prices that may affect things. A number of others, that have better properties or better balance sheets and are selling at a more reasonable valuation level.
SELL
Used to own it, sold it last year because the pricing of coal is very uncertain. Purchasers of coal are from Asia who are erratic in their purchases. This is the type of coal used to make the pipes in the oil industry which is priced more erratically then the heating coal.
COMMENT
Goal is something to have in your portfolio, although he hasn't bought IMG. Earnings forecast going forward is quite flat, although their production is going up. The problem is due to the raising cash costs for producing the gold.He likes GoldCorp instead.
BUY
Is dominated by Power Financial. He owns Power Financial, because the earnings are identical, it's just a little cheaper. Both are very good companies. Next generation of management in in place. Will go from the $250 level to $280 in the coming year and $350 the following year.
SELL
Doesn't own, but wishes he had. Thinks it's now a little over priced. Take some profits.
COMMENT
No longer own. In evaluating energy income trusts, they ask, what are their reserves, how successful the company and management has been at finding and replacing those reserves, what is the quality of the balance sheet, ie does the company have the ability to survive a downdraft in the future.Likes to see a production profile that's increasing.
BUY
One of the best yielding stocks on the TSX, yields around 5% or better. The current pull back is an opportunity.
DON'T BUY
Haven't owned for a long time. Many problems with their accounting systems. Investors haven't been able to depend on the numbers they are seeing. On the fundamentals, there are more and more strong competitors entering the market.
PAST TOP PICK
July 28,2006 Then $18.69 Still holding it. Like it very much. Has a nice balance between oil and gas. Hold for the long term.
PAST TOP PICK
Then $44.78 In a business that they really like. They cater to the professional market.
PAST TOP PICK
Then $36.50 Still a fair amount of upside. Still holding.
BUY
The distribution is fairly safe at this time. Has gone through some transitions over the last couple of years. Herring to Tuna. Management is consistent, and financials are consistent. Feels the price of the product will increase to cover the cost of transporting goods.
SELL
Their whole business has been modified over the last couple of years. Thinks it's too expensive right now.
COMMENT
The market has really picked up on carbon. One of the major gas producers in North America with excellent properties in the North West.
HOLD
Likes it. Business model is excellent. Some of their business segments, they've had a margin squeeze, but that is a short term problem.