DON'T BUY
Nice yield of almost 5%. Have been expanding aggressively through acquisitions. Have diluting shareholders through a lot of new issues. Prefers International Pipeline (IPL.UN-T), which has a better yield. On multiples they are about the same.
COMMENT
Came out with earnings last week, which were not too bad. Front store sales were up 5.5%-6%, which looked pretty good. Issued a warning on Ontario drug reforms, which potentially could put pressure on margins on pharmaceutical sales. This is put pressure on the stock. Fairly high PE multiple of 16.
DON'T BUY
(Market Call Minute.) There's going to be a lot of pressure on the business jet market as well as weakness in the regional jet area.
BUY
(Market Call Minute.) Oil service company. Small but well managed. Not a bad place to be right now.
BUY
(Market Call Minute.) Extremely well priced. Well managed. A lot of international plays going forward that could lead to significant production increases.
BUY
One of only two base metal companies that we have in Canada. Base metals industry is in remarkably good shape and is on a rebound. This one is still on track with the giant Ambatovy nickel project in Madagascar. Has its backers and has solved its debt problems.
BUY
Likes this one. They are buying the off take of metal mines where a lot of them have silver as a by-product.
BUY
Brilliantly run company. No danger signals or hideous debt signals. Think we will rotate in time out of the slightly prolonged commercial property descent as opposed to housing.
COMMENT
One of a kind with the auctioneering of Caterpillars. Great company. Looks a little sort of peaked out at the moment for a year and doesn't know why it is flat.
HOLD
One of the giant holders of gas filled land. Can't see any downside from this level. Doesn't know what it takes to get it going. 12.25% dividend is sustainable.
COMMENT
Gold. In a very rich mining area in Canada. Great overseas assets. Good core holding. No spice to it.
DON'T BUY
There are other gas stocks that he prefers. In the shale plays in British Columbia. The problem with these companies is the price of gas itself. You have to be patient with it because at some point it turns up but he doesn't see it lifting in the near term.
BUY
The only miners in Egypt in an area, which is abundant and rich in large gold deposits. Have to share 50% of their gold with the country but it is something very big and will grow.
HOLD
If we are coming out of the bear market, which he thinks we are, it should do well
TOP PICK
Large trader in agricultural products. A fragmented business and this is a major corporation in this business. President has persuaded his partners to sell the Turkish company to this company. Big in Australia and have 85 countries around the world that they export to. Cheap.