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.
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.
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.
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.
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.
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.
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.